XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
9 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Cash flows from operating activities:    
Net income $ 76.3 $ 124.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 182.4 146.8
Non-cash asset impairment charges 16.9 2.1
Non-cash pension settlement income (0.1) 0.0
Gain on disposals of properties, plants and equipment, net (2.1) (7.1)
Loss on disposals of businesses, net 37.9 3.0
Unrealized foreign exchange (gain) loss (0.2) 2.6
Deferred income tax benefit (5.3) (12.7)
Transition tax expense 0.0 2.4
Debt extinguishment charges 0.0 14.0
Non-cash lease expense 43.0 0.0
Other, net (1.8) 5.4
Increase (decrease) in cash from changes in certain assets and liabilities:    
Trade accounts receivable 9.4 5.5
Inventories (22.5) (20.8)
Deferred purchase price on sold receivables 0.0 (6.9)
Accounts payable 25.9 (37.2)
Restructuring reserves 8.5 7.0
Operating leases (42.4) 0.0
Pension and post-retirement benefit liabilities (17.3) (10.7)
Other, net (54.3) (23.7)
Net cash provided by (used in) operating activities 254.3 194.1
Cash flows from investing activities:    
Acquisitions of companies, net of cash acquired 0.0 (1,857.9)
Purchases of properties, plants and equipment (98.8) (103.8)
Purchases of and investments in timber properties (4.0) (4.1)
Purchases of equity method investments (3.6) 0.0
Proceeds from the sale of properties, plants, equipment and other assets 7.8 13.8
Proceeds from the sale of businesses 82.9 3.9
Proceeds from insurance recoveries 0.9 0.2
Net cash used in investing activities (14.8) (1,947.9)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 1,083.6 3,470.7
Payments on long-term debt (1,156.9) (1,596.7)
Proceeds (payments) on short-term borrowings, net (6.9) 3.3
Proceeds from trade accounts receivable credit facility 64.3 59.0
Payments on trade accounts receivable credit facility (119.4) (59.4)
Dividends paid to Greif, Inc. shareholders (78.2) (77.9)
Dividends paid to noncontrolling interests (12.1) (9.2)
Payments for debt extinguishment and issuance costs 0.0 (44.1)
Purchases of redeemable noncontrolling interest 0.0 (11.9)
Cash contribution from noncontrolling interest holder 0.0 1.6
Net cash provided by (used in) financing activities (225.6) 1,735.4
Reclassification of cash to assets held for sale 0.0 0.0
Effects of exchange rates on cash 7.3 0.0
Net increase (decrease) in cash and cash equivalents 21.2 (18.4)
Cash and cash equivalents at beginning of period 77.3 94.2
Cash and cash equivalents at end of period $ 98.5 $ 75.8