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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Apr. 30, 2020
Apr. 30, 2019
Net sales $ 1,158.3 $ 1,213.3 $ 2,270.7 $ 2,110.3
Cost of products sold 917.6 964.6 1,807.4 1,688.8
Gross profit 240.7 248.7 463.3 421.5
Selling, general and administrative expenses 121.1 140.0 256.5 238.1
Restructuring charges 4.4 7.5 7.7 11.2
Acquisition and integration related costs 4.8 13.8 9.9 16.4
Non-cash asset impairment charges 1.3 0.0 1.4 2.1
Gain on disposal of properties, plants and equipment, net (1.3) (4.9) (1.8) (5.8)
Loss on disposal of businesses, net 38.4 1.7 38.4 1.7
Operating profit 72.0 90.6 151.2 157.8
Interest expense, net 29.3 33.9 60.0 45.6
Debt extinguishment charges 0.0 21.9 0.0 21.9
Non-cash pension settlement income 0.0 0.0 (0.1) 0.0
Other expense, net 1.1 2.3 2.4 2.1
Income before income tax expense and equity earnings of unconsolidated affiliates, net 41.6 32.5 88.9 88.2
Income tax expense 26.5 11.5 37.9 31.5
Equity earnings of unconsolidated affiliates, net of tax (0.7) (0.1) (0.9) (0.2)
Net income 15.8 21.1 51.9 56.9
Net income attributable to noncontrolling interests (4.4) (7.5) (8.2) (13.6)
Net income attributable to Greif, Inc. $ 11.4 $ 13.6 $ 43.7 $ 43.3
Class A Common Stock        
Basic earnings per share attributable to Greif, Inc. common shareholders:        
Basic earnings per share attributable to Greif, Inc. common shareholders (usd per share) $ 0.19 $ 0.23 $ 0.74 $ 0.74
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share) $ 0.19 $ 0.23 $ 0.74 $ 0.74
Weighted-average number of common shares outstanding:        
Weighted-average number of common shares outstanding, basic (shares) 26,386,439 26,250,460 26,323,691 26,120,946
Weighted-average number of common shares outstanding, diluted (shares) 26,386,439 26,255,112 26,323,691 26,122,080
Cash dividends declared per common share:        
Cash dividends declared per common share (usd per share) $ 0.44 $ 0.44 $ 0.88 $ 0.88
Class B Common Stock        
Basic earnings per share attributable to Greif, Inc. common shareholders:        
Basic earnings per share attributable to Greif, Inc. common shareholders (usd per share) 0.29 0.34 1.10 1.09
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share) $ 0.29 $ 0.34 $ 1.10 $ 1.09
Weighted-average number of common shares outstanding:        
Weighted-average number of common shares outstanding, basic (shares) 22,000,000.0 22,000,000.0 22,000,000.0 22,000,000.0
Weighted-average number of common shares outstanding, diluted (shares) 22,000,000.0 22,000,000.0 22,000,000.0 22,000,000.0
Cash dividends declared per common share:        
Cash dividends declared per common share (usd per share) $ 0.66 $ 0.66 $ 1.31 $ 1.31