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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jul. 31, 2022
Jul. 31, 2021
Jul. 31, 2022
Jul. 31, 2021
Net sales $ 1,622.1 $ 1,490.8 $ 4,853.7 $ 3,977.9
Cost of products sold 1,275.2 1,172.0 3,878.4 3,181.0
Gross profit 346.9 318.8 975.3 796.9
Selling, general and administrative expenses 141.6 142.6 440.6 423.7
Restructuring charges 3.1 3.7 10.3 18.8
Timberland gains 0.0 0.0 0.0 (95.7)
Integration related costs 2.2 2.4 5.8 6.2
Non-cash asset impairment charges 0.7 0.0 63.1 1.5
Gain on disposal of properties, plants and equipment, net (6.4) (3.0) (8.1) (1.3)
Gain on disposal of businesses, net 0.0 0.0 (4.2) 0.0
Operating profit 205.7 173.1 467.8 443.7
Interest expense, net 14.0 23.9 44.3 75.8
Debt extinguishment charges 0.0 0.0 25.4 0.0
Non-cash pension settlement charges 0.0 0.4 0.0 9.0
Other expense (income), net 7.3 (0.6) 4.9 2.2
Income before income tax expense and equity earnings of unconsolidated affiliates, net 184.4 149.4 393.2 356.7
Income tax expense 39.9 33.1 105.4 56.5
Equity earnings of unconsolidated affiliates, net of tax (1.6) (2.1) (3.6) (3.1)
Net income 146.1 118.4 291.4 303.3
Net income attributable to noncontrolling interests (4.3) (5.4) (14.2) (17.1)
Net income attributable to Greif, Inc. $ 141.8 $ 113.0 $ 277.2 $ 286.2
Class A Common Stock        
Basic earnings per share attributable to Greif, Inc. common shareholders:        
Basic earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 2.38 $ 1.90 $ 4.66 $ 4.81
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 2.36 $ 1.89 $ 4.63 $ 4.80
Weighted-average number of common shares outstanding:        
Basic (in shares) 26,207,808 26,550,924 26,466,619 26,517,064
Diluted (in shares) 26,626,983 26,704,889 26,721,681 26,636,944
Cash dividends declared per common share:        
Cash dividends declared per common share (in usd per share) $ 0.46 $ 0.44 $ 1.38 $ 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 (in usd per share) 3.58 2.85 6.98 7.21
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 3.58 $ 2.85 $ 6.98 $ 7.21
Weighted-average number of common shares outstanding:        
Basic (in shares) 22,007,725 22,007,725 22,007,725 22,007,725
Diluted (in shares) 22,007,725 22,007,725 22,007,725 22,007,725
Cash dividends declared per common share:        
Cash dividends declared per common share (in usd per share) $ 0.69 $ 0.66 $ 2.06 $ 1.97