XML 84 R21.htm IDEA: XBRL DOCUMENT
v3.20.1

EQUITY AND COMPREHENSIVE INCOME (LOSS) | 6 Months Ended
--- | ---
Apr. 30, 2020
Equity [Abstract] |
EQUITY AND COMPREHENSIVE INCOME (LOSS) | EQUITY AND COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in equity for the three and six months ended April 30, 2020 (Dollars in millions, shares in thousands):
| Three Months Ended April 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capital Stock |  |  |  | Treasury Stock |  |  |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Greif, Inc. Equity |  | Non controlling interests |  | Total Equity
| Common Shares |  | Amount |  | Treasury Shares |  | Amount |  |  |  |  |  |  |  |  |  |
As of January 31, 2020 | 48,269 |  |  | $ | 162.7 |  |  | 28,573 |  |  | $ | (134.7) |  |  | $ | 1,548.7 |  |  | $ | (412.9) |  |  | $ | 1,163.8 |  |  | $ | 58.9 |  |  | $ | 1,222.7 |
Net income |  |  |  |  |  |  |  |  | 11.4 |  |  |  |  | 11.4 |  |  | 4.4 |  |  | 15.8 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (48.7) |  |  | (48.7) |  |  | (3.6) |  |  | (52.3) |
Derivative financial instruments, net of immaterial income tax expense |  |  |  |  |  |  |  |  |  |  | (23.1) |  |  | (23.1) |  |  |  |  | (23.1) |
Minimum pension liability adjustment, net of immaterial income tax expense |  |  |  |  |  |  |  |  |  |  | 1.3 |  |  | 1.3 |  |  |  |  | 1.3 |
Comprehensive loss |  |  |  |  | . |  |  |  |  |  |  |  | (59.1) |  |  |  |  | (58.3) |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | (2.2) |  |  |  |  | (2.2) |  |  |  |  | (2.2) |
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.66 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (26.1) |  |  |  |  | (26.1) |  |  |  |  | (26.1) |
Dividends paid to noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (7.7) |  |  | (7.7) |
Long-term incentive shares issued | 153 |  |  | 5.0 |  |  | (153) |  |  | 0.3 |  |  |  |  |  |  | 5.3 |  |  |  |  | 5.3 |
Share based compensation | — |  |  | 0.5 |  |  | — |  |  | — |  |  |  |  |  |  | 0.5 |  |  |  |  | 0.5 |
Restricted stock, directors | 28 |  |  | 1.0 |  |  | (28) |  |  | — |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
As of April 30, 2020 | 48,450 |  |  | $ | 169.2 |  |  | 28,392 |  |  | $ | (134.4) |  |  | $ | 1,531.8 |  |  | $ | (483.4) |  |  | $ | 1,083.2 |  |  | $ | 52.0 |  |  | $ | 1,135.2 |
| Six Months Ended April 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capital Stock |  |  |  | Treasury Stock |  |  |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Greif, Inc. Equity |  | Non controlling interests |  | Total Equity
| Common Shares |  | Amount |  | Treasury Shares |  | Amount |  |  |  |  |  |  |  |  |  |
As of October 31, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8) |  |  | $ | 1,539.0 |  |  | $ | (433.7) |  |  | $ | 1,133.1 |  |  | $ | 58.0 |  |  | $ | 1,191.1 |
Net income |  |  |  |  |  |  |  |  | 43.7 |  |  |  |  | 43.7 |  |  | 8.2 |  |  | 51.9 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (49.8) |  |  | (49.8) |  |  | (5.6) |  |  | (55.4) |
Derivative financial instruments, net of immaterial income tax expense |  |  |  |  |  |  |  |  |  |  | (22.9) |  |  | (22.9) |  |  |  |  | (22.9) |
Minimum pension liability adjustment, net of $7.5 million of income tax expense |  |  |  |  |  |  |  |  |  |  | 23.0 |  |  | 23.0 |  |  |  |  | 23.0 |
Comprehensive loss |  |  |  |  | . |  |  |  |  |  |  |  | (6.0) |  |  |  |  | (3.4) |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 1.1 |  |  |  |  | 1.1 |  |  |  |  | 1.1 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (0.1) |  |  | (0.1) |
Dividends paid to Greif, Inc. shareholders ($0.88 and $1.31 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (52.0) |  |  |  |  | (52.0) |  |  |  |  | (52.0) |
Dividends paid to noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (8.5) |  |  | (8.5) |
Long-term incentive shares issued | 153 |  |  | 5.0 |  |  | (153) |  |  | 0.3 |  |  |  |  |  |  | 5.3 |  |  |  |  | 5.3 |
Share based compensation | — |  |  | 0.5 |  |  | — |  |  | — |  |  |  |  |  |  | 0.5 |  |  |  |  | 0.5 |
Restricted stock, executive | 3 |  |  | 0.1 |  |  | (3) |  |  | 0.1 |  |  |  |  |  |  | 0.2 |  |  |  |  | 0.2 |
Restricted stock, directors | 28 |  |  | 1 |  |  | (28) |  |  | — |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
As of April 30, 2020 | 48,450 |  |  | $ | 169.2 |  |  | 28,392 |  |  | $ | (134.4) |  |  | $ | 1,531.8 |  |  | $ | (483.4) |  |  | $ | 1,083.2 |  |  | $ | 52.0 |  |  | $ | 1,135.2 |
The following table summarizes the changes in equity for the three and six months ended April 30, 2019 (Dollars in millions, shares in thousands):
| Three Months Ended April 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capital Stock |  |  |  | Treasury Stock |  |  |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Greif, Inc. Equity |  | Non controlling interests |  | Total Equity
| Common Shares |  | Amount |  | Treasury Shares |  | Amount |  |  |  |  |  |  |  |  |  |
As of January 31, 2019 | 48,241 |  |  | $ | 161.5 |  |  | 28,601 |  |  | $ | (134.8) |  |  | $ | 1,471.9 |  |  | $ | (379.4) |  |  | $ | 1,119.2 |  |  | $ | 52.3 |  |  | $ | 1,171.5 |
Net income |  |  |  |  |  |  |  |  | 13.6 |  |  |  |  | 13.6 |  |  | 7.5 |  |  | 21.1 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (12.7) |  |  | (12.7) |  |  | (2.0) |  |  | (14.7) |
Derivative financial instruments, net of income tax benefit of $5.3 million |  |  |  |  |  |  |  |  |  |  | (10.0) |  |  | (10.0) |  |  |  |  | (10.0) |
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | 0.7 |  |  | 0.7 |  |  |  |  | 0.7 |
Comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  | (8.4) |  |  |  |  | (2.9) |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 0.8 |  |  |  |  | 0.8 |  |  |  |  | 0.8 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (0.5) |  |  | (0.5) |
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.66 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (26.1) |  |  |  |  | (26.1) |  |  |  |  | (26.1) |
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (7.5) |  |  | (7.5) |
Restricted stock, directors | 25 |  |  | 1.1 |  |  | (25) |  |  | — |  |  |  |  |  |  | 1.1 |  |  |  |  | 1.1 |
As of April 30, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8) |  |  | $ | 1,460.2 |  |  | $ | (401.4) |  |  | $ | 1,086.6 |  |  | $ | 49.8 |  |  | $ | 1,136.4 |
| Six Months Ended April 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capital Stock |  |  |  | Treasury Stock |  |  |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Greif, Inc. Equity |  | Non controlling interests |  | Total Equity
| Common Shares |  | Amount |  | Treasury Shares |  | Amount |  |  |  |  |  |  |  |  |  |
As of October 31, 2018 | 47,949 |  |  | $ | 150.5 |  |  | 28,893 |  |  | $ | (135.4) |  |  | $ | 1,469.8 |  |  | $ | (377.1) |  |  | $ | 1,107.8 |  |  | $ | 46.4 |  |  | $ | 1,154.2 |
Net income |  |  |  |  |  |  |  |  | 43.3 |  |  |  |  | 43.3 |  |  | 13.6 |  |  | 56.9 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (8.5) |  |  | (8.5) |  |  | (1.0) |  |  | (9.5) |
Derivative financial instruments, net of income tax benefit of $3.4 million |  |  |  |  |  |  |  |  |  |  | (15.7) |  |  | (15.7) |  |  |  |  | (15.7) |
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | (0.1) |  |  | (0.1) |  |  |  |  | (0.1) |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  | 19.0 |  |  |  |  | 31.6 |
Adoption of ASU 2016-16 |  |  |  |  |  |  |  |  | (2.1) |  |  |  |  | (2.1) |  |  |  |  | (2.1) |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (1.3) |  |  | (1.3) |
Dividends paid to Greif, Inc. shareholders ($0.88 and $1.31 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (51.8) |  |  |  |  | (51.8) |  |  |  |  | (51.8) |
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (7.9) |  |  | (7.9) |
Restricted stock, directors | 25 |  |  | 1.1 |  |  | (25) |  |  |  |  |  |  |  |  | 1.1 |  |  |  |  | 1.1 |
Long-term incentive shares issued | 292 |  |  | 11.0 |  |  | (292) |  |  | 0.6 |  |  |  |  |  |  | 11.6 |  |  |  |  | 11.6 |
As of April 30, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8) |  |  | $ | 1,460.2 |  |  | $ | (401.4) |  |  | $ | 1,086.6 |  |  | $ | 49.8 |  |  | $ | 1,136.4 |
The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2020:
(in millions) | Foreign Currency Translation |  | Derivative Financial Instruments |  | Minimum Pension Liability Adjustment |  | Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2019 | $ | (298.0) |  |  | $ | (12.7) |  |  | $ | (123.0) |  |  | $ | (433.7) |
Other Comprehensive Income (Loss) | (49.8) |  |  | (22.9) |  |  | 23.0 |  |  | (49.7) |
Balance as of April 30, 2020 | $ | (347.8) |  |  | $ | (35.6) |  |  | $ | (100.0) |  |  | $ | (483.4) |
The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2019:
(in millions) | Foreign Currency Translation |  | Interest Rate Derivative |  | Minimum Pension Liability Adjustment |  | Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2018 | $ | (292.8) |  |  | $ | 13.4 |  |  | $ | (97.7) |  |  | $ | (377.1) |
Other Comprehensive Income (Loss) | (8.5) |  |  | (15.7) |  |  | (0.1) |  |  | (24.3) |
Balance as of April 30, 2019 | $ | (301.3) |  |  | $ | (2.3) |  |  | $ | (97.8) |  |  | $ | (401.4) |
The components of accumulated other comprehensive income (loss) above are presented net of tax, as applicable.

X
- Definition The entire disclosure for stockholders equity and comprehensive income. + References No definition available. + Details
Name: | gef_StockholdersEquityAndComprehensiveIncomeTextBlock
Namespace Prefix: | gef_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration