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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Jul. 31, 2020
Jul. 31, 2019
Net sales $ 1,083.0 $ 1,252.6 $ 3,353.7 $ 3,362.9
Cost of products sold 863.3 973.2 2,670.7 2,662.0
Gross profit 219.7 279.4 683.0 700.9
Selling, general and administrative expenses 120.4 138.9 376.9 377.0
Restructuring charges 19.1 9.1 26.8 20.3
Acquisition and integration related costs 3.6 5.8 13.5 22.2
Non-cash asset impairment charges 15.5 0.0 16.9 2.1
Gain on disposal of properties, plants and equipment, net (0.3) (1.3) (2.1) (7.1)
(Gain) loss on disposal of businesses, net (0.5) 1.3 37.9 3.0
Operating profit 61.9 125.6 213.1 283.4
Interest expense, net 29.8 34.5 89.8 80.1
Debt extinguishment charges 0.0 0.1 0.0 22.0
Non-cash pension settlement income 0.0 0.0 (0.1) 0.0
Other (income) expense, net 1.1 (1.1) 3.5 1.0
Income before income tax expense and equity earnings of unconsolidated affiliates, net 31.0 92.1 119.9 180.3
Income tax expense 6.9 26.8 44.8 58.3
Equity earnings of unconsolidated affiliates, net of tax (0.3) (2.2) (1.2) (2.4)
Net income 24.4 67.5 76.3 124.4
Net income attributable to noncontrolling interests (3.7) (4.8) (11.9) (18.4)
Net income attributable to Greif, Inc. $ 20.7 $ 62.7 $ 64.4 $ 106.0
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) $ 0.35 $ 1.06 $ 1.09 $ 1.80
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share) $ 0.35 $ 1.06 $ 1.09 $ 1.80
Weighted-average number of common shares outstanding:        
Weighted-average number of common shares outstanding, basic (shares) 26,441,986 26,257,943 26,363,123 26,166,612
Weighted-average number of common shares outstanding, diluted (shares) 26,442,595 26,257,943 26,363,177 26,166,612
Cash dividends declared per common share:        
Cash dividends declared per common share (usd per share) $ 0.44 $ 0.44 $ 1.32 $ 1.32
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) 0.52 1.59 1.62 2.68
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share) $ 0.52 $ 1.59 $ 1.62 $ 2.68
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 $ 1.97 $ 1.97