XML 43 R2.htm IDEA: XBRL DOCUMENT v3.24.4
Pay vs Performance Disclosure - USD ($)
1 Months Ended 11 Months Ended 12 Months Ended
Jan. 31, 2022
Dec. 31, 2022
Oct. 31, 2024
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2021
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    
YearSummary Compensation Table Total for First PEO ($)(1)Summary Compensation Table Total for Second PEO ($)(2)Compensation Actually Paid to First PEO ($)(3)(8)Compensation Actually Paid to Second PEO ($)(3)(8)Average Summary Compensation Table Total for Non-PEO NEOs ($)(4)Average Compensation Actually Paid to Non-PEO NEOs ($)(3)(4)(10)Value of Initial Fixed $100 Investment Based On:Net Income
($ millions)
Adjusted EBITDA
($ millions) (7)
Total Shareholder Return ($)(5)Peer Group Total Shareholder Return ($)(6)
20248,512,45410,629,4903,698,7233,597,684161.41122.76295.5694.3
20234,352,9083,092,6693,557,9091,716,832162.0292.59379.1818.8
20224,625,06514,207,6018,702,4837,867,1484,255,1974,370,793166.8293.58394917.5
20218,098,38919,163,1292,746,4015,977,176161.13121.89413.2764.2
The following adjustments were made to the total compensation reported in the Summary Compensation Table to arrive at the compensation actually paid to Mr. Rosgaard:
YearSummary Compensation Table Total for First PEO ($)Change in Pension Value and Nonqualified Deferred Compensation Earnings from Summary Compensation Table ($)Pension Benefit Adjustments ($)(a)Equity Awards from Summary Compensation Table ($)Equity Award Adjustments ($)(b)Compensation Actually Paid to First PEO ($)
20248,512,454(4,095)139,431(5,480,471)7,462,17110,629,490
20234,352,908(4,082)101,781(2,230,716)872,7783,092,669
20224,625,065(903)115,632(2,224,859)6,187,5488,702,483
2021
(a)The pension benefit adjustments for Mr. Rosgaard for each year include the addition of the following:
YearActuarially Determined Service Costs ($)Prior Service Costs ($)Total Pension Benefit Adjustments ($)
2024139,431139,431
2023101,781101,781
2022115,632115,632
2021
     
Company Selected Measure Name     Adjusted EBITDA      
Named Executive Officers, Footnote     Rosgaard was appointed President and CEO of the Company effective February 1, 2022.
(2)Peter G. Watson retired as President and CEO of the Company effective January 31, 2022.
     
Peer Group Issuers, Footnote     Peer group TSR represents the cumulative TSR of the Dow Jones U.S. Containers & Packaging Index, based on an initial fixed investment of $100 as of October 31, 2019, which we present in the stock performance graph required by Item 201(e) of Regulation S-K included in our annual report on Form 10-K for the year ended October 31, 2024.      
Adjustment To PEO Compensation, Footnote     The amounts shown for Compensation Actually Paid to Mr. Rosgaard, Mr. Watson, and the Non-PEO NEOs have been calculated in accordance with Item 402(v) of Regulation S-K and reflect total compensation as set forth in the Summary Compensation Table above adjusted as further set forth in footnotes 8, 9 and 10 below.The equity award adjustments for Mr. Rosgaard for each year include the addition or subtraction, as applicable, of the following:
YearYear-end fair value of awards granted and unvested in the fiscal year ($)Change over the fiscal year in fair value of awards granted in prior years outstanding and unvested in the fiscal year ($)Fair value as of vesting date of awards granted and vested in the fiscal year ($)Change from end of prior fiscal year of awards granted in prior years that failed to meet vesting conditions in the fiscal year ($)Fair value at end of prior fiscal year of awards granted in prior years that failed to meet vesting conditions in the fiscal year ($)Value of dividends or other earnings paid on stock or option awards in the fiscal year before the vesting date, not otherwise reflected in the fair value or included in total compensation for the fiscal year ($)Total Equity Award Adjustments ($)
20247,508,040(41,608)(4,261)7,462,171
20232,469,734(1,698,474)101,518872,778
20225,503,459699,278(15,189)6,187,548
2021
The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of the grant.
(9)The following adjustments were made to the total compensation reported in the Summary Compensation Table to arrive at the compensation actually paid to Mr. Watson:

YearSummary Compensation Table Total for Second PEO ($)Aggregate Change in Actuarial Present Value of Pension Benefits from Summary Compensation Table ($)Pension Benefit Adjustments ($)(a)Equity Award Values from Summary Compensation TableEquity Award Adjustments ($)(b)Compensation Actually Paid to Second PEO ($)
2024
2023
202214,207,601508,829(11,587,974)4,738,6927,867,148
20218,098,389(2,644,444)851,012(882,736)13,740,90819,163,129
(a)The pension benefit adjustments for Mr. Watson for each year include the addition of the following:
YearActuarially Determined Service Costs ($)Prior Service Costs ($)Total Pension Benefit Adjustments ($)
2024
2023
2022508,829508,829
2021851,012851,012
(b)The equity award adjustments for Mr. Watson for each year include the addition or subtraction, as applicable, of the following:
YearYear-end fair value of awards granted and unvested in the fiscal year ($)Change over the fiscal year in fair value of awards granted in prior years outstanding and unvested in the fiscal year ($)Fair value as of vesting date of awards granted and vested in the fiscal year ($)Change from end of prior fiscal year of awards granted in prior years that failed to meet vesting conditions in the fiscal year ($)Fair value at end of prior fiscal year of awards granted in prior years that failed to meet vesting conditions in the fiscal year ($)Value of dividends or other earnings paid on stock or option awards in the fiscal year before the vesting date, not otherwise reflected in the fair value or included in total compensation for the fiscal year ($)Total Equity Award Adjustments ($)
2024
2023
20221,051,1463,762,786(75,240)4,738,692
20217,551,0125,979,816210,08013,740,908
     
Non-PEO NEO Average Total Compensation Amount     $ 3,698,723 $ 3,557,909 $ 4,255,197 $ 2,746,401
Non-PEO NEO Average Compensation Actually Paid Amount     $ 3,597,684 1,716,832 4,370,793 5,977,176
Adjustment to Non-PEO NEO Compensation Footnote     For 2024 and 2023, our non-PEO NEOs were Lawrence A. Hilsheimer, Gary R. Martz, Timothy L. Bergwall, and Bala V. Sathyanarayanan; for 2022 and 2021, our non-PEO NEOs were Lawrence A. Hilsheimer, Gary R. Martz, Michael Cronin, and Ole G. Rosgaard. The following adjustments were made to the total compensation reported in the Summary Compensation Table to arrive at the average compensation actually paid to our Named Executive Officers other than our Principal Executive Officer:
YearSummary Compensation Table Total for Non-PEO NEOs ($)Aggregate Change in Actuarial Present Value of Pension Benefits from Summary Compensation Table ($)Pension Benefit Adjustments ($)(a)Equity Award Values from Summary Compensation TableEquity Award Adjustments ($)(b)Compensation Actually Paid to Non-PEO NEOs ($)
20243,698,723(311,881)119,139(1,779,353)1,871,0563,597,684
20233,557,909(21,916)98,780(2,318,458)400,5171,716,832
20224,255,197(5,048)145,684(2,595,456)2,570,4164,370,793
20212,746,401(362,440)193,470(269,654)3,669,3995,977,176
(a)The pension benefit adjustments for the Non-PEO NEOs for each year include the addition of the following:
YearActuarially Determined Service Costs ($)Prior Service Costs ($)Total Pension Benefit Adjustments ($)
2024119,139119,139
202398,78098,780
2022145,684145,684
2021193,470193,470
(b)The equity award adjustments for the Non-PEO NEOs for each year include the addition or subtraction, as applicable, of the following:
YearYear-end fair value of awards granted and unvested in the fiscal year ($)Change over the fiscal year in fair value of awards granted in prior years outstanding and unvested in the fiscal year ($)Fair value as of vesting date of awards granted and vested in the fiscal year ($)Change from end of prior fiscal year of awards granted in prior years that failed to meet vesting conditions in the fiscal year ($)Fair value at end of prior fiscal year of awards granted in prior years that failed to meet vesting conditions in the fiscal year ($)Value of dividends or other earnings paid on stock or option awards in the fiscal year before the vesting date, not otherwise reflected in the fair value or included in total compensation for the fiscal year ($)Total Equity Award Adjustments ($)
20241,852,19623,272(4,412)1,871,056
2023819,964(537,952)118,505400,517
20221,785,133804,008(18,725)2,570,416
20212,230,7791,381,86356,7573,669,399
     
Compensation Actually Paid vs. Total Shareholder Return    
Compensation Actually Paid v Company TSR
The following chart shows the relationship between compensation actually paid to our PEOs, the average compensation actually paid to our Non-PEO NEOs, and the Company's cumulative TSR over the four period from 2021 through 2024.
CAP v Company TSR.jpg
     
Compensation Actually Paid vs. Net Income    
Compensation Actually Paid v Net Income
The following chart shows the relationship between compensation actually paid to our PEOs, the average compensation actually paid to our Non-PEO NEOs, and the Company's net income for fiscal years 2021 to 2024.
CAP v Net Income.jpg
     
Compensation Actually Paid vs. Company Selected Measure    
Compensation Actually Paid v Adjusted EBITDA
The following chart shows the relationship between compensation actually paid to our PEOs, the average of compensation actually paid to our Non-PEO NEOs, and the Company's adjusted EBITDA for fiscal years 2021 to 2024.
CAP v Adjusted EBITDA.jpg
     
Total Shareholder Return Vs Peer Group    
Company TSR v Peer Group TSR
The following chart compares our Company cumulative TSR over the four period from 2021 to 2024 to that of the Dow Jones U.S. Containers and Packaging Index
2025 Company TSR v Peer Group TSR.jpg
     
Tabular List, Table     Adjusted EBITDA
Operating Profit Before Special Items (OPBSI)
Operating Working Capital (OWC)
Relative TSR (rTSR)
     
Total Shareholder Return Amount     $ 161.41 162.02 166.82 161.13
Peer Group Total Shareholder Return Amount     122.76 92.59 93.58 121.89
Net Income (Loss)     $ 295,500,000 $ 379,100,000 $ 394,000,000 $ 413,200,000
Company Selected Measure Amount     694,300,000 818,800,000 917,500,000 764,200,000
PEO Name Watson Rosgaard        
Additional 402(v) Disclosure     Cumulative total shareholder return (TSR) of the Company's Class A Common Stock, based on an initial fixed investment of $100 as of October 31, 2019.Adjusted EBITDA means adjusted earnings before interest, taxes, depreciation, depletion and amortization, subject to such adjustments that the Compensation Committee determines to be necessary to reflect accurately the EBITDA of the Company for the applicable period. Adjusted EBITDA is a non-GAAP financial measure that has not been prepared in accordance with U.S. GAAP and is not based on any standardized methodology prescribed by U.S. GAAP. As a result, it is not necessarily comparable to similarly titled measures presented by other companies. While the Company uses multiple financial performance measures to evaluate performance under the Company's compensation programs, the Company has determined that Adjusted EBITDA is the financial performance measure that, in the Company's assessment, represents the most important performance measure (that is not otherwise required to be in the table) used by the Company to link compensation actually paid to the Company's PEO and Non-PEO NEOs to Company performance for the three most recently completed fiscal years.      
Measure:: 1            
Pay vs Performance Disclosure            
Name     Adjusted EBITDA      
Measure:: 2            
Pay vs Performance Disclosure            
Name     Operating Profit Before Special Items (OPBSI)      
Measure:: 3            
Pay vs Performance Disclosure            
Name     Operating Working Capital (OWC)      
Measure:: 4            
Pay vs Performance Disclosure            
Name     Relative TSR (rTSR)      
Mr. Rosgaard [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 8,512,454 $ 4,352,908 $ 4,625,065 $ 0
PEO Actually Paid Compensation Amount     10,629,490 3,092,669 8,702,483 0
Mr. Watson [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     0 0 14,207,601 8,098,389
PEO Actually Paid Compensation Amount     0 0 7,867,148 19,163,129
PEO | Mr. Rosgaard [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (4,095) (4,082) (903) 0
PEO | Mr. Rosgaard [Member] | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     139,431 101,781 115,632 0
PEO | Mr. Rosgaard [Member] | Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     139,431 101,781 115,632 0
PEO | Mr. Rosgaard [Member] | Pension Adjustments Prior Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Rosgaard [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (5,480,471) (2,230,716) (2,224,859) 0
PEO | Mr. Rosgaard [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     7,462,171 872,778 6,187,548 0
PEO | Mr. Rosgaard [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     7,508,040 2,469,734 5,503,459 0
PEO | Mr. Rosgaard [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (41,608) (1,698,474) 699,278 0
PEO | Mr. Rosgaard [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Rosgaard [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (4,261) 101,518 (15,189) 0
PEO | Mr. Rosgaard [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Rosgaard [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Watson [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 (2,644,444)
PEO | Mr. Watson [Member] | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 508,829 851,012
PEO | Mr. Watson [Member] | Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 508,829 851,012
PEO | Mr. Watson [Member] | Pension Adjustments Prior Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Watson [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 (11,587,974) (882,736)
PEO | Mr. Watson [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 4,738,692 13,740,908
PEO | Mr. Watson [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 1,051,146 7,551,012
PEO | Mr. Watson [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 3,762,786 5,979,816
PEO | Mr. Watson [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Watson [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 (75,240) 210,080
PEO | Mr. Watson [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Mr. Watson [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (311,881) (21,916) (5,048) (362,440)
Non-PEO NEO | Aggregate Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     119,139 98,780 145,684 193,470
Non-PEO NEO | Pension Adjustments Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     119,139 98,780 145,684 193,470
Non-PEO NEO | Pension Adjustments Prior Service Cost            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (1,779,353) (2,318,458) (2,595,456) (269,654)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,871,056 400,517 2,570,416 3,669,399
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,852,196 819,964 1,785,133 2,230,779
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     23,272 (537,952) 804,008 1,381,863
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (4,412) 118,505 (18,725) 56,757
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     $ 0 $ 0 $ 0 $ 0