EQUITY AND COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Jul. 31, 2020

The following table summarizes the changes in equity for the three and nine months ended July 31, 2020 (Dollars in millions, shares in thousands)


	Three Months Ended July 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 April 30, 2020	48,450	$	169.2	28,392	$	(134.4)	$	1,531.8	$	(483.4)	$	1,083.2	$	52.0	$	1,135.2
Net income							20.7				20.7		3.7		24.4
Other comprehensive income (loss):
Foreign currency translation									62.4		62.4		(2.8)		59.6
Derivative financial instruments, net of $6.7 million of income tax benefit									2.0		2.0				2.0
Minimum pension liability adjustment, net of immaterial income tax expense									(2.4)		(2.4)				(2.4)
Comprehensive income				.							82.7				83.6
Current period mark to redemption value of redeemable noncontrolling interest							1.1				1.1				1.1
Net income allocated to redeemable noncontrolling interests											—		0.3		0.3
Dividends paid to Greif, Inc. shareholders ($0.44 and $0.66 per Class A share and Class B share, respectively)							(26.2)				(26.2)				(26.2)
Dividends paid to noncontrolling interests and other											—		(3.6)		(3.6)
Share based compensation	—	0.5		—	—						0.5				0.5
As of July 31, 2020	48,450	$	169.7	28,392	$	(134.4)	$	1,527.4	$	(421.4)	$	1,141.3	$	49.6	$	1,190.9


	Nine Months Ended July 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							64.4				64.4		11.9		76.3
Other comprehensive income (loss):
Foreign currency translation									12.6		12.6		(8.4)		4.2
Derivative financial instruments, net of $6.7 million income tax benefit									(20.9)		(20.9)				(20.9)
Minimum pension liability adjustment, net of $7.5 million of income tax expense									20.6		20.6				20.6
Comprehensive income				.							76.7				80.2
Current period mark to redemption value of redeemable noncontrolling interest							2.2				2.2				2.2
Net income allocated to redeemable noncontrolling interests											—		0.2		0.2


Dividends paid to Greif, Inc. shareholders ($1.32 and $1.97 per Class A share and Class B share, respectively)							(78.2)				(78.2)				(78.2)
Dividends paid to noncontrolling interests and other											—		(12.1)		(12.1)
Long-term incentive shares issued	153	5.0		(153)	0.3						5.3				5.3
Share based compensation	—	1.0		—	—						1.0				1.0
Restricted stock, executive	3	0.1		(3)	0.1						0.2				0.2
Restricted stock, directors	28	1		(28)	—						1.0				1.0

As of July 31, 2020	48,450	$	169.7	28,392	$	(134.4)	$	1,527.4	$	(421.4)	$	1,141.3	$	49.6	$	1,190.9

The following table summarizes the changes in equity for the three and nine months ended July 31, 2019 (Dollars in millions, shares in thousands):


	Three Months Ended July 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 April 30, 2019	48,266	$	162.6	28,576	$	(134.8)	$	1,460.2	$	(401.4)	$	1,086.6	$	49.8	$	1,136.4
Net income							62.7				62.7		4.8		67.5
Other comprehensive income (loss):
Foreign currency translation									(2.2)		(2.2)		1.3		(0.9)
Derivative financial instruments, net of income tax benefit of $2.2 million									(5.0)		(5.0)				(5.0)
Minimum pension liability adjustment, net of immaterial income tax									2.3		2.3				2.3
Comprehensive income											57.8				63.9

Current period mark to redemption value of redeemable noncontrolling interest							2.3				2.3				2.3
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											—		(0.4)		(0.4)

As of July 31, 2019	48,266	$	162.6	28,576	$	(134.8)	$	1,499.1	$	(406.3)	$	1,120.6	$	55.0	$	1,175.6


	Nine Months Ended July 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							106.0				106.0		18.4		124.4
Other comprehensive income (loss):
Foreign currency translation									(10.7)		(10.7)		0.3		(10.4)
Derivative financial instruments, net of income tax benefit of $3.4 million									(20.7)		(20.7)				(20.7)
Minimum pension liability adjustment, net of immaterial income tax									2.2		2.2				2.2
Comprehensive income											76.8				95.5
Adoption of ASU 2016-16							(2.1)				(2.1)				(2.1)
Current period mark to redemption value of redeemable noncontrolling interest							3.3				3.3				3.3
Net income allocated to redeemable noncontrolling interests											—		(1.8)		(1.8)
Dividends paid to Greif, Inc. shareholders ($1.32 and $1.97 per Class A share and Class B share, respectively)							(77.9)				(77.9)				(77.9)
Dividends paid to noncontrolling interests											—		(8.3)		(8.3)
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 July 31, 2019	48,266	$	162.6	28,576	$	(134.8)	$	1,499.1	$	(406.3)	$	1,120.6	$	55.0	$	1,175.6

The following table provides the rollforward of accumulated other comprehensive income (loss) for the nine months ended July 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)	12.6		(20.9)		20.6		12.3
Balance as of July 31, 2020	$	(285.4)	$	(33.6)	$	(102.4)	$	(421.4)

The following table provides the rollforward of accumulated other comprehensive income (loss) for the nine months ended July 31, 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 Income (Loss)	(10.7)		(20.7)		2.2		(29.2)
Balance as of July 31, 2019	$	(303.5)	$	(7.3)	$	(95.5)	$	(406.3)