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EQUITY AND COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended
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Jul. 31, 2020
Equity [Abstract] |
Summary of Changes in Equity | The following table summarizes the changes in equity for the three and nine months ended July 31, 2020 (Dollars in millions, shares in thousands)
| Three Months Ended July 31, 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 April 30, 2020 | 48,450 |  |  | $ | 169.2 |  |  | 28,392 |  |  | $ | (134.4) |  |  | $ | 1,531.8 |  |  | $ | (483.4) |  |  | $ | 1,083.2 |  |  | $ | 52.0 |  |  | $ | 1,135.2 |
Net income |  |  |  |  |  |  |  |  | 20.7 |  |  |  |  | 20.7 |  |  | 3.7 |  |  | 24.4 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | 62.4 |  |  | 62.4 |  |  | (2.8) |  |  | 59.6 |
Derivative financial instruments, net of $6.7 million of income tax benefit |  |  |  |  |  |  |  |  |  |  | 2.0 |  |  | 2.0 |  |  |  |  | 2.0 |
Minimum pension liability adjustment, net of immaterial income tax expense |  |  |  |  |  |  |  |  |  |  | (2.4) |  |  | (2.4) |  |  |  |  | (2.4) |
Comprehensive income |  |  |  |  | . |  |  |  |  |  |  |  | 82.7 |  |  |  |  | 83.6 |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 1.1 |  |  |  |  | 1.1 |  |  |  |  | 1.1 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | 0.3 |  |  | 0.3 |
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.66 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (26.2) |  |  |  |  | (26.2) |  |  |  |  | (26.2) |
Dividends paid to noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (3.6) |  |  | (3.6) |
Share based compensation | — |  |  | 0.5 |  |  | — |  |  | — |  |  |  |  |  |  | 0.5 |  |  |  |  | 0.5 |
As of July 31, 2020 | 48,450 |  |  | $ | 169.7 |  |  | 28,392 |  |  | $ | (134.4) |  |  | $ | 1,527.4 |  |  | $ | (421.4) |  |  | $ | 1,141.3 |  |  | $ | 49.6 |  |  | $ | 1,190.9 |
| Nine Months Ended July 31, 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 |  |  |  |  |  |  |  |  | 64.4 |  |  |  |  | 64.4 |  |  | 11.9 |  |  | 76.3 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | 12.6 |  |  | 12.6 |  |  | (8.4) |  |  | 4.2 |
Derivative financial instruments, net of $6.7 million income tax benefit |  |  |  |  |  |  |  |  |  |  | (20.9) |  |  | (20.9) |  |  |  |  | (20.9) |
Minimum pension liability adjustment, net of $7.5 million of income tax expense |  |  |  |  |  |  |  |  |  |  | 20.6 |  |  | 20.6 |  |  |  |  | 20.6 |
Comprehensive income |  |  |  |  | . |  |  |  |  |  |  |  | 76.7 |  |  |  |  | 80.2 |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 2.2 |  |  |  |  | 2.2 |  |  |  |  | 2.2 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | 0.2 |  |  | 0.2 |
Dividends paid to Greif, Inc. shareholders ($1.32 and $1.97 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (78.2) |  |  |  |  | (78.2) |  |  |  |  | (78.2) |
Dividends paid to noncontrolling interests and other |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (12.1) |  |  | (12.1) |
Long-term incentive shares issued | 153 |  |  | 5.0 |  |  | (153) |  |  | 0.3 |  |  |  |  |  |  | 5.3 |  |  |  |  | 5.3 |
Share based compensation | — |  |  | 1.0 |  |  | — |  |  | — |  |  |  |  |  |  | 1.0 |  |  |  |  | 1.0 |
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 July 31, 2020 | 48,450 |  |  | $ | 169.7 |  |  | 28,392 |  |  | $ | (134.4) |  |  | $ | 1,527.4 |  |  | $ | (421.4) |  |  | $ | 1,141.3 |  |  | $ | 49.6 |  |  | $ | 1,190.9 |
The following table summarizes the changes in equity for the three and nine months ended July 31, 2019 (Dollars in millions, shares in thousands):
| Three Months Ended July 31, 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 April 30, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8) |  |  | $ | 1,460.2 |  |  | $ | (401.4) |  |  | $ | 1,086.6 |  |  | $ | 49.8 |  |  | $ | 1,136.4 |
Net income |  |  |  |  |  |  |  |  | 62.7 |  |  |  |  | 62.7 |  |  | 4.8 |  |  | 67.5 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (2.2) |  |  | (2.2) |  |  | 1.3 |  |  | (0.9) |
Derivative financial instruments, net of income tax benefit of $2.2 million |  |  |  |  |  |  |  |  |  |  | (5.0) |  |  | (5.0) |  |  |  |  | (5.0) |
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | 2.3 |  |  | 2.3 |  |  |  |  | 2.3 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  | 57.8 |  |  |  |  | 63.9 |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 2.3 |  |  |  |  | 2.3 |  |  |  |  | 2.3 |
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 |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (0.4) |  |  | (0.4) |
As of July 31, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8) |  |  | $ | 1,499.1 |  |  | $ | (406.3) |  |  | $ | 1,120.6 |  |  | $ | 55.0 |  |  | $ | 1,175.6 |
| Nine Months Ended July 31, 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 |  |  |  |  |  |  |  |  | 106.0 |  |  |  |  | 106.0 |  |  | 18.4 |  |  | 124.4 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  |  |  |  |  |  |  |  |  | (10.7) |  |  | (10.7) |  |  | 0.3 |  |  | (10.4) |
Derivative financial instruments, net of income tax benefit of $3.4 million |  |  |  |  |  |  |  |  |  |  | (20.7) |  |  | (20.7) |  |  |  |  | (20.7) |
Minimum pension liability adjustment, net of immaterial income tax |  |  |  |  |  |  |  |  |  |  | 2.2 |  |  | 2.2 |  |  |  |  | 2.2 |
Comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  | 76.8 |  |  |  |  | 95.5 |
Adoption of ASU 2016-16 |  |  |  |  |  |  |  |  | (2.1) |  |  |  |  | (2.1) |  |  |  |  | (2.1) |
Current period mark to redemption value of redeemable noncontrolling interest |  |  |  |  |  |  |  |  | 3.3 |  |  |  |  | 3.3 |  |  |  |  | 3.3 |
Net income allocated to redeemable noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (1.8) |  |  | (1.8) |
Dividends paid to Greif, Inc. shareholders ($1.32 and $1.97 per Class A share and Class B share, respectively) |  |  |  |  |  |  |  |  | (77.9) |  |  |  |  | (77.9) |  |  |  |  | (77.9) |
Dividends paid to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  | (8.3) |  |  | (8.3) |
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 July 31, 2019 | 48,266 |  |  | $ | 162.6 |  |  | 28,576 |  |  | $ | (134.8) |  |  | $ | 1,499.1 |  |  | $ | (406.3) |  |  | $ | 1,120.6 |  |  | $ | 55.0 |  |  | $ | 1,175.6 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table provides the rollforward of accumulated other comprehensive income (loss) for the nine months ended July 31, 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) | 12.6 |  |  | (20.9) |  |  | 20.6 |  |  | 12.3 |
Balance as of July 31, 2020 | $ | (285.4) |  |  | $ | (33.6) |  |  | $ | (102.4) |  |  | $ | (421.4) |
The following table provides the rollforward of accumulated other comprehensive income (loss) for the nine months ended July 31, 2019:
(in millions) | Foreign Currency Translation |  | Derivative Financial Instruments |  | 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) | (10.7) |  |  | (20.7) |  |  | 2.2 |  |  | (29.2) |
Balance as of July 31, 2019 | $ | (303.5) |  |  | $ | (7.3) |  |  | $ | (95.5) |  |  | $ | (406.3) |

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