BUSINESS SEGMENT INFORMATION

3 Months Ended

Jan. 31, 2023

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

The Company has six operating segments, which are aggregated into three reportable business segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management.

The Company’s reportable business segments offer different products and services. The accounting policies of the reportable business segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2022 Form 10-K.

On December 15, 2022, the Company completed the Lee Container Acquisition. Lee Container is an industry-leading manufacturer of high-performance barrier, conventional blow molded containers, jerrycans and small plastics, which complement the Company’s Global Industrial Packaging specialty portfolio. The results of Lee Container are recorded within the Global Industrial Packaging segment while the Company evaluates the impact of the Lee Container Acquisition on its reportable business segments.

The following tables present net sales disaggregated by geographic area for each reportable segment for the three months ended January 31, 2023:

	Three Months Ended January 31, 2023
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	259.3	$	314.8	$	131.7	$	705.8
Paper Packaging & Services	550.5		—		9.7		560.2
Land Management	5.0		—		—		5.0
Total net sales	$	814.8	$	314.8	$	141.4	$	1,271.0

The following tables present net sales disaggregated by geographic area for each reportable segment for the three months ended January 31, 2022:

	Three Months Ended January 31, 2022
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	318.8	$	457.3	$	173.0	$	949.1
Paper Packaging & Services	600.8		—		9.2		610.0
Land Management	5.2		—		—		5.2
Total net sales	$	924.8	$	457.3	$	182.2	$	1,564.3

The following segment information is presented for the periods indicated:

	Three Months Ended January 31,
(in millions)	2023		2022
Operating profit:
Global Industrial Packaging	$	45.9	$	31.0
Paper Packaging & Services	109.1		38.3
Land Management	1.4		2.7
Total operating profit	$	156.4	$	72.0
Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	21.4	$	20.6
Paper Packaging & Services	33.1		38.0
Land Management	0.6		0.8
Total depreciation, depletion and amortization expense	$	55.1	$	59.4

The following table presents total assets by segment and total properties, plants and equipment, net by geographic area:

(in millions)	January 31, 2023		October 31, 2022
Assets:
Global Industrial Packaging	$	2,645.3	$	2,308.4
Paper Packaging & Services	2,394.4		2,473.9
Land Management	251.7		250.0
Total segments	5,291.4		5,032.3
Corporate and other	399.2		437.6
Total assets	$	5,690.6	$	5,469.9
Long lived assets, net:
United States	$	1,367.3	$	1,315.6
Europe, Middle East and Africa	320.4		303.7
Asia Pacific and other Americas	94.2		91.6
Total long-lived assets, net	$	1,781.9	$	1,710.9