EQUITY AND COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Apr. 30, 2019
Equity [Abstract]  
Summary of Changes in Equity
The following table summarizes the changes in equity for the three and six month periods ended April 30, 2019 (Dollars in millions, shares in thousands):
 
Three-Month Period 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 and other
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(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-Month Period 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 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 and other
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(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 summarizes the changes in equity for the three and six month periods ended April 30, 2018 (Dollars in millions, shares in thousands):
 
Three-Month Period Ended April 30, 2018
 
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, 2018
47,925

 
$
149.1

 
28,917

 
$
(135.5
)
 
$
1,390.5

 
$
(316.6
)
 
$
1,087.5

 
$
39.0

 
$
1,126.5

Net income
 
 
 
 
 
 
 
 
45.1

 
 
 
45.1

 
6.8

 
51.9

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
 
 
 
 
 
 
 
 
 
 
(26.3
)
 
(26.3
)
 
—

 
(26.3
)
Interest rate derivative, net of income tax benefit of $0.3 million
 
 
 
 
 
 
 
 
 
 
1.4

 
1.4

 
 
 
1.4

Minimum pension liability adjustment, net of immaterial income tax
 
 
 
 
 
 
 
 
 
 
2.7

 
2.7

 
 
 
2.7

Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
22.9

 
 
 
29.7

Current period mark to redemption value of redeemable noncontrolling interest
 
 
 
 
 
 
 
 
(0.4
)
 
 
 
(0.4
)
 
 
 
(0.4
)
Net income allocated to redeemable noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(0.8
)
 
(0.8
)
Dividends paid to Greif, Inc. shareholders ($0.42 and $0.63 per Class A share and Class B share, respectively)
 
 
 
 
 
 
 
 
(24.8
)
 
 
 
(24.8
)
 
 
 
(24.8
)
Dividends paid to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(2.2
)
 
(2.2
)
Restricted stock directors
21

 
1.0

 
(21
)
 
—

 
 
 
 
 
1.0

 
 
 
1.0

Long-term incentive shares issued
3

 
0.2

 
(3
)
 
0.1

 
 
 
 
 
0.3

 
 
 
0.3

As of April 30, 2018
47,949

 
$
150.3

 
28,893

 
$
(135.4
)
 
$
1,410.4

 
$
(338.8
)
 
$
1,086.5

 
$
42.8

 
$
1,129.3


 
Six-Month Period Ended April 30, 2018
 
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, 2017
47,843

 
$
144.2

 
28,999

 
$
(135.6
)
 
$
1,360.5

 
$
(358.2
)
 
$
1,010.9

 
$
36.6

 
$
1,047.5

Net income
 
 
 
 
 
 
 
 
101.6

 
 
 
101.6

 
10.4

 
112.0

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 

Foreign currency translation
 
 
 
 
 
 
 
 
 
 
11.7

 
11.7

 
0.4

 
12.1

Interest rate derivative, net of income tax expense of $1.8 million
 
 
 
 
 
 
 
 
(0.6
)
 
5.9

 
5.3

 
 
 
5.3

Minimum pension liability adjustment, net of immaterial income tax
 
 
 
 
 
 
 
 
 
 
1.8

 
1.8

 
 
 
1.8

Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
120.4

 
 
 
131.2

Current period mark to redemption value of redeemable noncontrolling interest
 
 
 
 
 
 
 
 
(1.8
)
 
 
 
(1.8
)
 
 
 
(1.8
)
Net income allocated to redeemable noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(1.9
)
 
(1.9
)
Dividends paid to Greif, Inc. shareholders ($0.84 and $1.25 per Class A share and Class B share, respectively)
 
 
 
 
 
 
 
 
(49.3
)
 
 
 
(49.3
)
 
 
 
(49.3
)
Dividends paid to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(2.7
)
 
(2.7
)
Restricted stock directors
21

 
1.0

 
(21
)
 
—

 
 
 
 
 
1.0

 
 
 
1.0

Long-term incentive shares issued
85

 
5.1

 
(85
)
 
0.2

 
 
 
 
 
5.3

 
 
 
5.3

As of April 30, 2018
47,949

 
$
150.3

 
28,893

 
$
(135.4
)
 
$
1,410.4

 
$
(338.8
)
 
$
1,086.5

 
$
42.8

 
$
1,129.3
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table provides the rollforward of accumulated other comprehensive loss for the six months ended April 30, 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 Loss
(8.5
)
 
(15.7
)
 
(0.1
)
 
(24.3
)
Current-period Other Comprehensive Loss
(8.5
)
 
(15.7
)
 
(0.1
)
 
(24.3
)
Balance as of April 30, 2019
$
(301.3
)
 
$
(2.3
)
 
$
(97.8
)
 
$
(401.4
)
The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2018:
(in millions)
Foreign Currency
Translation
 
Interest Rate Derivative
 
Minimum Pension
Liability Adjustment
 
Accumulated Other
Comprehensive
Income (Loss)
Balance as of October 31, 2017
$
(249.3
)
 
$
5.1

 
$
(114.0
)
 
$
(358.2
)
Other Comprehensive Income
11.7

 
5.9

 
1.8

 
19.4

Current-period Other Comprehensive Income
11.7


5.9

 
1.8

 
19.4

Balance as of April 30, 2018
$
(237.6
)

$
11.0

 
$
(112.2
)
 
$
(338.8
)