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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Jul. 31, 2023
Earnings Per Share [Abstract] |
Schedule of Computation of Class Based Basic and Diluted Earnings Per Share | The Company calculates EPS as follows:
Basic Class A EPS | = | 40% * Average Class A Shares Outstanding | * | Undistributed Net Income | + | Class A Dividends Per Share
40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding | Average Class A Shares Outstanding
Diluted Class A EPS | = | 40% * Average Class A Shares Outstanding | * | Undistributed Net Income | + | Class A Dividends Per Share
40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding | Average Diluted Class A Shares Outstanding
Basic Class B EPS | = | 60% * Average Class B Shares Outstanding | * | Undistributed Net Income | + | Class B Dividends Per Share
40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding | Average Class B Shares Outstanding
*Diluted Class B EPS calculation is identical to Basic Class B calculation
Schedule of Computation of Earnings Per Share Basic and Diluted | The following table provides EPS information for each period, respectively:
| Three Months Ended July 31, |  | Nine Months Ended July 31,
(in millions) | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator for basic and diluted EPS |  |  |  |  |  |  |
Net income attributable to Greif, Inc. | $ | 90.3 |  |  | $ | 141.8 |  |  | $ | 291.4 |  |  | $ | 277.2 |
Cash dividends | (28.8) |  |  | (27.4) |  |  | (86.7) |  |  | (82.0) |
Undistributed earnings attributable to Greif, Inc. | $ | 61.5 |  |  | $ | 114.4 |  |  | $ | 204.7 |  |  | $ | 195.2 |
Schedule of Company's Class A and Class B Common and Treasury Shares | The following table summarizes the shares of the Company’s Class A and Class B Common Stock as of the specified dates:
| Authorized Shares |  | Issued Shares |  | Outstanding Shares |  | Treasury Shares
July 31, 2023 |  |  |  |  |  |  |
Class A Common Stock | 128,000,000 |  |  | 42,281,920 |  |  | 25,474,254 |  |  | 16,807,666 |
Class B Common Stock | 69,120,000 |  |  | 34,560,000 |  |  | 21,331,127 |  |  | 13,228,873 |
October 31, 2022 |  |  |  |  |  |  |
Class A Common Stock | 128,000,000 |  |  | 42,281,920 |  |  | 25,606,287 |  |  | 16,675,633 |
Class B Common Stock | 69,120,000 |  |  | 34,560,000 |  |  | 21,836,745 |  |  | 12,723,255 |
Schedule of Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share | The following is a reconciliation of the shares used to calculate basic and diluted earnings per share:
| Three Months Ended July 31, |  | Nine Months Ended July 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Class A Common Stock: |  |  |  |  |  |  |
Basic shares | 25,473,454 |  |  | 26,207,808 |  |  | 25,632,486 |  |  | 26,466,619 |
Assumed conversion of restricted shares | 520,818 |  |  | 419,175 |  |  | 356,605 |  |  | 255,062 |
Diluted shares | 25,994,272 |  |  | 26,626,983 |  |  | 25,989,091 |  |  | 26,721,681 |
Class B Common Stock: |  |  |  |  |  |  |
Basic and diluted shares | 21,339,943 |  |  | 22,007,725 |  |  | 21,519,665 |  |  | 22,007,725 |

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