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EQUITY AND COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Jan. 31, 2020
Equity [Abstract]  
EQUITY AND COMPREHENSIVE INCOME (LOSS) EQUITY AND COMPREHENSIVE INCOME (LOSS)
The following table summarizes the changes in equity for the three months ended January 31, 2020 (Dollars in millions, shares in thousands):
 
Three-Months Ended January 31, 2020
 
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, 2019
48,266

 
$
162.6

 
28,576

 
$
(134.8
)
 
$
1,539.0

 
$
(433.7
)
 
$
1,133.1

 
$
58.0

 
$
1,191.1

Net income
 
 
 
 
 
 
 
 
32.3

 
 
 
32.3

 
3.8

 
36.1

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
 
 
 
 
 
 
 
 
 
 
(1.1
)
 
(1.1
)
 
(2.0
)
 
(3.1
)
Derivative financial instruments, net of immaterial income tax expense
 
 
 
 
 
 
 
 
 
 
0.2

 
0.2

 
 
 
0.2

Minimum pension liability adjustment, net of $7.5 million of income tax expense
 
 
 
 
 
 
 
 
 
 
21.7

 
21.7

 
 
 
21.7

Comprehensive income
 
 
 
 
.
 
 
 
 
 
 
 
53.1

 
 
 
54.9

Current period mark to redemption value of redeemable noncontrolling interest
 
 
 
 
 
 
 
 
3.3

 
 
 
3.3

 
 
 
3.3

Net income allocated to redeemable noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(0.1
)
 
(0.1
)
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.65 per Class A share and Class B share, respectively)
 
 
 
 
 
 
 
 
(25.9
)
 
 
 
(25.9
)
 
 
 
(25.9
)
Dividends paid to noncontrolling interests and other
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(0.8
)
 
(0.8
)
Restricted stock, executive
3

 
0.1

 
(3
)
 
0.1

 
 
 
 
 
0.2

 
 
 
0.2

As of January 31, 2020
48,269

 
$
162.7

 
28,573

 
$
(134.7
)
 
$
1,548.7

 
$
(412.9
)
 
$
1,163.8

 
$
58.9

 
$
1,222.7

The following table summarizes the changes in equity for the three months ended January 31, 2019 (Dollars in millions, shares in thousands):
 
Three-Month Period Ended January 31, 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
 
 
 
 
 
 
 
 
29.7

 
 
 
29.7

 
6.1

 
35.8

Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
 
 
 
 
 
 
 
 
 
 
4.2

 
4.2

 
1.0

 
5.2

Derivative financial instruments, net of income tax benefit of $1.9 million
 
 
 
 
 
 
 
 
 
 
(5.7
)
 
(5.7
)
 
 
 
(5.7
)
Minimum pension liability adjustment, net of immaterial income tax
 
 
 
 
 
 
 
 
 
 
(0.8
)
 
(0.8
)
 
 
 
(0.8
)
Comprehensive income
 
 
 
 
 
 
 
 
 
 
 
 
27.4

 
 
 
34.5

Adoption of ASU 2016-16
 
 
 
 
 
 
 
 
(2.1
)
 
 
 
(2.1
)
 
 
 
(2.1
)
Current period mark to redemption value of redeemable noncontrolling interest
 
 
 
 
 
 
 
 
0.2

 
 
 
0.2

 
 
 
0.2

Net income allocated to redeemable noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(0.8
)
 
(0.8
)
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.65 per Class A share and Class B share, respectively)
 
 
 
 
 
 
 
 
(25.7
)
 
 
 
(25.7
)
 
 
 
(25.7
)
Dividends paid to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(0.4
)
 
(0.4
)
Long-term incentive shares issued
292

 
11.0

 
(292
)
 
0.6

 
 
 
 
 
11.6

 
 
 
11.6

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


The following table provides the rollforward of accumulated other comprehensive income (loss) for the three months ended January 31, 2020:
(in millions)
Foreign
Currency
Translation
 
Derivative Financial Instruments
 
Minimum
Pension
Liability
Adjustment
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance as of October 31, 2019
$
(298.0
)
 
$
(12.7
)
 
$
(123.0
)
 
$
(433.7
)
Other Comprehensive Income (Loss)
(1.1
)
 
0.2

 
21.7

 
20.8

Balance as of January 31, 2020
$
(299.1
)
 
$
(12.5
)
 
$
(101.3
)
 
$
(412.9
)
The following table provides the rollforward of accumulated other comprehensive income (loss) for the three months ended January 31, 2019:
(in millions)
Foreign Currency
Translation
 
Interest Rate Derivative
 
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 Income (Loss)
4.2

 
(5.7
)
 
(0.8
)
 
(2.3
)
Balance as of January 31, 2019
$
(288.6
)

$
7.7

 
$
(98.5
)
 
$
(379.4
)

The components of accumulated other comprehensive income (loss) above are presented net of tax, as applicable.