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Business Segment Information
 12 Months Ended
Oct. 31, 2020
Segment Reporting [Abstract]  
Business Segment Information BUSINESS SEGMENT INFORMATION
The Company has eight operating segments, which are aggregated into four reportable business segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services reportable business segment is the aggregation of five operating segments: Rigid Industrial Packaging & Services – North America; Rigid Industrial Packaging & Services – Latin America; Rigid Industrial Packaging & Services – Europe, Middle East and Africa; Rigid Industrial Packaging & Services – Asia Pacific; and Rigid Industrial Packaging & Services – Tri-Sure.
Operations in the Rigid Industrial Packaging & Services segment involve the production and sale of rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and remanufactured and reconditioned industrial containers, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services. The Company’s rigid industrial packaging products and services are sold to customers in industries such as chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agricultural, pharmaceutical and mineral products, among others.
Operations in the Paper Packaging & Services segment involve the production and sale of containerboard, corrugated sheets, corrugated containers and other corrugated and specialty products to customers in North America in industries such as packaging, automotive, food and building products. The Company’s corrugated container products are used to ship such diverse products as home appliances, small machinery, grocery products, automotive components, books and furniture, as well as numerous other applications. The Company also produces and sells coated and uncoated recycled paperboard, along with tubes and cores and a diverse mix of specialty products to customers in North America. In addition, the segment is involved in purchase and sale of recycled fiber.
On April 1, 2020, the Company completed the CPG divestiture within the Paper Packaging & Services segment.
Operations in the Flexible Products & Services segment involve the production and sale of flexible intermediate bulk containers and related services on a global basis. The Company’s flexible intermediate bulk containers are constructed from a polypropylene-based woven fabric that is produced at its production sites, as well as sourced from strategic regional suppliers. Flexible products are sold to customers and in market segments similar to those of the Company’s Rigid Industrial Packaging & Services segment, with an emphasis on customers in industries such as agricultural, construction and food industries.
Operations in the Land Management segment involve the management and sale of timber and special use properties from approximately 244,000 acres of timber properties in the southeastern United States. Land Management’s operations focus on the active harvesting and regeneration of its timber properties to achieve sustainable long-term yields. While timber sales are subject to fluctuations, the Company seeks to maintain a consistent cutting schedule, within the limits of market and weather conditions. The Company also sells, from time to time, timberland and special use properties, which consists of surplus properties, higher and better use ("HBU") properties, and development properties.
In order to maximize the value of timber property, the Company continues to review its current portfolio and explore the development of certain of these properties. This process has led the Company to characterize property as follows:
•Surplus property, meaning land that cannot be efficiently or effectively managed by the Company, whether due to parcel size, lack of productivity, location, access limitations or for other reasons.
•HBU property, meaning land that in its current state has a higher market value for uses other than growing and selling timber.
•Development property, meaning HBU land that, with additional investment, may have a significantly higher market value than its HBU market value.
•Timberland, meaning land that is best suited for growing and selling timber.
The disposal of surplus and HBU property is reported in the consolidated statements of income under “gain on disposals of properties, plants and equipment, net” and the sale of development property is reported under “net sales” and “cost of products sold.” All HBU, development and surplus property is used by the Company to productively grow and sell timber until sold.
Whether timberland has a higher value for uses other than growing and selling timber is a determination based upon several variables, such as proximity to population centers, anticipated population growth in the area, the topography of the land, aesthetic considerations, including access to water, the condition of the surrounding land, availability of utilities, markets for timber and economic considerations both nationally and locally. Given these considerations, the characterization of land is not a static process, but requires an ongoing review and re-characterization as circumstances change.
The following tables present net sales disaggregated by geographic area for each reportable segment for the year ended October 31, 2020:
Year Ended October 31, 2020
(in millions)United StatesEurope, Middle East and AfricaAsia Pacific and Other AmericasTotal
Rigid Industrial Packaging & Services$814.0 $1,074.3 $410.6 $2,298.9 
Paper Packaging & Services1,888.4 — 28.5 1,916.9 
Flexible Products & Services28.2 214.5 30.2 272.9 
Land Management26.3 — — 26.3 
Total net sales
$2,756.9 $1,288.8 $469.3 $4,515.0 

The following tables present net sales disaggregated by geographic area for each reportable segment for the year ended October 31, 2019:
Year Ended October 31, 2019
(in millions)United StatesEurope, Middle East and AfricaAsia Pacific and Other AmericasTotal
Rigid Industrial Packaging & Services$906.3 $1,118.0 $466.3 $2,490.6 
Paper Packaging & Services1,758.8 — 21.2 1,780.0 
Flexible Products & Services35.7 232.4 29.4 297.5 
Land Management26.9 — — 26.9 
Total net sales
$2,727.7 $1,350.4 $516.9 $4,595.0 
The following segment information is presented for each of the three years in the period ended October 31:
(in millions)202020192018
Operating profit:
Rigid Industrial Packaging & Services209.9 179.6 183.2 
Paper Packaging & Services71.0 184.3 158.3 
Flexible Products & Services15.5 25.3 19.4 
Land Management8.5 9.9 9.6 
Total operating profit$304.9 $399.1 $370.5 
Depreciation, depletion and amortization expense:
Rigid Industrial Packaging & Services$78.9 $76.3 $81.2 
Paper Packaging & Services153.5 119.3 34.2 
Flexible Products & Services5.6 6.2 6.9 
Land Management4.5 4.3 4.6 
Total depreciation, depletion and amortization expense$242.5 $206.1 $126.9 
Capital expenditures:
Rigid Industrial Packaging & Services$48.3 $53.6 $76.8 
Paper Packaging & Services61.4 81.2 39.2 
Flexible Products & Services7.5 4.8 3.7 
Land Management0.2 0.2 0.4 
Total segment117.4 139.8 120.1 
Corporate and other12.6 17.1 19.0 
Total capital expenditures$130.0 $156.9 $139.1 

The following table presents total assets by segment and total long lived assets, net by geographic area:
(in millions)October 31, 2020October 31, 2019October 31, 2018
Assets:
Rigid Industrial Packaging & Services$2,189.7 $2,006.3 $1,963.0 
Paper Packaging & Services2,524.3 2,686.3 474.3 
Flexible Products & Services148.8 148.2 153.9 
Land Management348.6 348.7 347.2 
Total segment5,211.4 5,189.5 2,938.4 
Corporate and other299.5 237.2 256.4 
Total assets$5,510.9 $5,426.7 $3,194.8 
Long lived assets, net*:
United States$1,345.8 $1,295.8 $796.3 
Europe, Middle East, and Africa377.6 277.1 276.9 
Asia Pacific and other Americas111.0 117.4 118.7 
Total properties, plants and equipment, net$1,834.4 $1,690.3 $1,191.9 
 * current year disclosure includes impact of capitalization of operating lease assets