CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions |
6 Months Ended |
Apr. 30, 2019 |
Apr. 30, 2018 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 56.9
|
$ 112.0
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation, depletion and amortization |
86.8
|
64.1
|
| Non-cash asset impairment charges |
2.1
|
3.3
|
| Gain on disposal of properties, plants and equipment, net |
(5.8)
|
(6.1)
|
| Loss on disposals of businesses, net |
1.7
|
0.0
|
| Unrealized foreign exchange loss |
1.1
|
2.0
|
| Deferred income tax benefit |
(11.8)
|
(69.6)
|
| Transition tax expense |
2.3
|
35.9
|
| Debt extinguishment charges |
13.9
|
0.0
|
| Other, net |
2.9
|
0.6
|
| Increase (decrease) in cash from changes in certain assets and liabilities: |
|
|
| Trade accounts receivable |
13.3
|
(15.2)
|
| Inventories |
(31.2)
|
(68.0)
|
| Deferred purchase price on sold receivables |
(6.9)
|
(24.8)
|
| Accounts payable |
(25.1)
|
(2.0)
|
| Restructuring reserves |
2.2
|
0.9
|
| Pension and postretirement benefit liabilities |
(5.8)
|
(3.4)
|
| Other, net |
(44.0)
|
(25.2)
|
| Net cash provided by operating activities |
52.6
|
4.5
|
| Cash flows from investing activities: |
|
|
| Acquisitions of companies, net of cash acquired |
(1,828.4)
|
0.0
|
| Purchases of properties, plants and equipment |
(63.6)
|
(56.3)
|
| Purchases of and investments in timber properties |
(2.3)
|
(4.9)
|
| Proceeds from the sale of properties, plants, equipment and other assets |
10.6
|
8.5
|
| Proceeds from the sale of businesses |
0.4
|
1.4
|
| Proceeds from insurance recoveries |
0.2
|
0.0
|
| Net cash used in investing activities |
(1,883.1)
|
(51.3)
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of long-term debt |
3,190.0
|
533.8
|
| Payments on long-term debt |
(1,228.6)
|
(463.7)
|
| Payment on current portion of long-term debt |
(18.8)
|
0.0
|
| Proceeds on short-term borrowings, net |
1.6
|
0.0
|
| Payments on short-term borrowings, net |
0.0
|
(5.2)
|
| Proceeds from trade accounts receivable credit facility |
42.2
|
2.8
|
| Payments on trade accounts receivable credit facility |
(45.1)
|
(2.8)
|
| Dividends paid to Greif, Inc. shareholders |
(51.8)
|
(49.3)
|
| Dividends paid to noncontrolling interests |
(8.3)
|
(3.4)
|
| Payments for debt extinguishment and issuance costs |
(44.1)
|
0.0
|
| Purchases of redeemable noncontrolling interest |
(11.9)
|
0.0
|
| Cash contribution from noncontrolling interest holder |
1.6
|
0.0
|
| Net cash provided by financing activities |
1,826.8
|
12.2
|
| Effects of exchange rates on cash |
(0.7)
|
0.5
|
| Net decrease in cash and cash equivalents |
(4.4)
|
(34.1)
|
| Cash and cash equivalents at beginning of period |
94.2
|
142.3
|
| Cash and cash equivalents at end of period |
$ 89.8
|
$ 108.2
|