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BUSINESS SEGMENT INFORMATION | 3 Months Ended
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Jan. 31, 2023
Segment Reporting [Abstract] |
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION The Company has six operating segments, which are aggregated into three reportable business segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. The Company’s reportable business segments offer different products and services. The accounting policies of the reportable business segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2022 Form 10-K. On December 15, 2022, the Company completed the Lee Container Acquisition. Lee Container is an industry-leading manufacturer of high-performance barrier, conventional blow molded containers, jerrycans and small plastics, which complement the Company’s Global Industrial Packaging specialty portfolio. The results of Lee Container are recorded within the Global Industrial Packaging segment while the Company evaluates the impact of the Lee Container Acquisition on its reportable business segments. The following tables present net sales disaggregated by geographic area for each reportable segment for the three months ended January 31, 2023:
| Three Months Ended January 31, 2023
(in millions) | United States |  | Europe, Middle East and Africa |  | Asia Pacific and Other Americas |  | Total
Global Industrial Packaging | $ | 259.3 |  |  | $ | 314.8 |  |  | $ | 131.7 |  |  | $ | 705.8 |
Paper Packaging & Services | 550.5 |  |  | — |  |  | 9.7 |  |  | 560.2 |
Land Management | 5.0 |  |  | — |  |  | — |  |  | 5.0 |
Total net sales | $ | 814.8 |  |  | $ | 314.8 |  |  | $ | 141.4 |  |  | $ | 1,271.0 |
The following tables present net sales disaggregated by geographic area for each reportable segment for the three months ended January 31, 2022:
| Three Months Ended January 31, 2022
(in millions) | United States |  | Europe, Middle East and Africa |  | Asia Pacific and Other Americas |  | Total
Global Industrial Packaging | $ | 318.8 |  |  | $ | 457.3 |  |  | $ | 173.0 |  |  | $ | 949.1 |
Paper Packaging & Services | 600.8 |  |  | — |  |  | 9.2 |  |  | 610.0 |
Land Management | 5.2 |  |  | — |  |  | — |  |  | 5.2 |
Total net sales | $ | 924.8 |  |  | $ | 457.3 |  |  | $ | 182.2 |  |  | $ | 1,564.3 |
The following segment information is presented for the periods indicated:
| Three Months Ended January 31, |  |
(in millions) | 2023 |  | 2022 |  |  |  |
Operating profit: |  |  |  |  |  |  |
Global Industrial Packaging | $ | 45.9 |  |  | $ | 31.0 |  |  |  |  |
Paper Packaging & Services | 109.1 |  |  | 38.3 |  |  |  |  |
Land Management | 1.4 |  |  | 2.7 |  |  |  |  |
Total operating profit | $ | 156.4 |  |  | $ | 72.0 |  |  |  |  |
Depreciation, depletion and amortization expense: |  |  |  |  |  |  |
Global Industrial Packaging | $ | 21.4 |  |  | $ | 20.6 |  |  |  |  |
Paper Packaging & Services | 33.1 |  |  | 38.0 |  |  |  |  |
Land Management | 0.6 |  |  | 0.8 |  |  |  |  |
Total depreciation, depletion and amortization expense | $ | 55.1 |  |  | $ | 59.4 |  |  |  |  |
The following table presents total assets by segment and total properties, plants and equipment, net by geographic area:
(in millions) | January 31, 2023 |  | October 31, 2022
Assets: |  |  |
Global Industrial Packaging | $ | 2,645.3 |  |  | $ | 2,308.4 |
Paper Packaging & Services | 2,394.4 |  |  | 2,473.9 |
Land Management | 251.7 |  |  | 250.0 |
Total segments | 5,291.4 |  |  | 5,032.3 |
Corporate and other | 399.2 |  |  | 437.6 |
Total assets | $ | 5,690.6 |  |  | $ | 5,469.9 |
Long lived assets, net: |  |  |
United States | $ | 1,367.3 |  |  | $ | 1,315.6 |
Europe, Middle East and Africa | 320.4 |  |  | 303.7 |
Asia Pacific and other Americas | 94.2 |  |  | 91.6 |
Total long-lived assets, net | $ | 1,781.9 |  |  | $ | 1,710.9 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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