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Business Segment Information
 9 Months Ended
Jul. 31, 2011
Business Segment Information [Abstract]  
BUSINESS SEGMENT INFORMATION
NOTE 18 — BUSINESS SEGMENT INFORMATION
The Company operates in four business segments: Rigid Industrial Packaging & Services, Flexible Products & Services, Paper Packaging, and Land Management.
Operations in the Rigid Industrial Packaging & Services segment involve the production and sale of rigid industrial packaging products, such as steel, fiber and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, water bottles and reconditioned containers, and services, such as container lifecycle management, blending, filling and other packaging services, logistics and warehousing. The Company’s rigid industrial packaging products are sold to customers in industries such as chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agricultural, pharmaceutical and mineral, among others.
Operations in the Flexible Products & Services segment involve the production and sale of flexible intermediate bulk containers and related services on a global basis and industrial and consumer multiwall bag products in the North America market. Our flexible intermediate bulk containers consist of a polypropylene-based woven fabric that is partly produced at our fully integrated production sites, as well as sourced from strategic regional suppliers. Our flexible products are sold to customers and in market segments similar to those of our Rigid Industrial Packaging & Services segment. Additionally, our flexible products significantly expand our presence in the agricultural and food industries, among others. Our industrial and consumer multiwall bag products are used to ship a wide range of industrial and consumer products, such as seed, fertilizers, chemicals, concrete, flour, sugar, feed, pet foods, popcorn, charcoal and salt, primarily for the agricultural, chemical, building products and food industries.
Operations in the Paper Packaging segment involve the production and sale of containerboard, corrugated sheets and other corrugated products to customers in North America. The Company’s corrugated container products are used to ship such diverse products as home appliances, small machinery, grocery products, building products, automotive components, books and furniture, as well as numerous other applications. Operations related to the Company’s industrial and consumer multiwall bag products were reclassified from this segment to the Flexible Products & Services segment in the first quarter of 2010.
Operations in the Land Management segment involve the management and sale of timber and special use properties from approximately 266,100 acres of timber properties in the southeastern United States, which are actively managed, and 14,700 acres of timber properties in Canada, which are not actively managed. The Company’s Land Management team is focused on the active harvesting and regeneration of our United States 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.
The Company’s reportable segments are strategic business units that offer different products and services. The accounting policies of the reportable segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2010 Form 10-K.
The following segment information is presented for the periods indicated (Dollars in thousands):
                                 
    Three months ended     Nine months ended  
    July 31,     July 31,  
    2011     2010     2011     2010  
 
               
Net sales
                               
Rigid Industrial Packaging & Services
  $ 804,013     $ 681,709     $ 2,201,850     $ 1,883,017  
Flexible Products & Services
    141,170       66,938       403,994       128,679  
Paper Packaging
    172,760       168,758       496,064       444,548  
Land Management
    3,959       3,928       14,552       11,351  
 
                       
Total net sales
  $ 1,121,902     $ 921,333     $ 3,116,460     $ 2,467,595  
 
                       
Operating profit:
                               
Rigid Industrial Packaging & Services
  $ 71,988     $ 71,477     $ 184,191     $ 184,382  
Flexible Products & Services
    7,756       2,813       11,182       (1,497 )
Paper Packaging
    17,559       18,862       56,555       30,196  
Land Management
    10,743       2,522       16,120       6,013  
 
                       
Total operating profit
    108,046       95,674       268,048       219,094  
 
                       
Restructuring charges:
                               
Rigid Industrial Packaging & Services
    3,411       5,259       7,960       15,933  
Flexible Products & Services
    683       45       3,914       45  
Paper Packaging
    (698 )     4,475       (461 )     4,588  
Land Management
    —       —       (6 )     —  
 
                       
Total restructuring charges
    3,396       9,779       11,407       20,566  
 
                       
Restructuring-related inventory charges:
                               
Rigid Industrial Packaging & Services
    —       94       —       131  
 
                       
Total restructuring-related inventory charges
    —       94       —       131  
 
                       
Acquisition-related costs:
                               
Rigid Industrial Packaging & Services
    2,132       2,587       6,340       6,390  
Flexible Products & Services
    531       2,889       12,888       13,729  
 
                       
Total acquisition-related costs
    2,663       5,476       19,228       20,119  
 
                       
Non-cash intangible asset impairment charge:
                               
Flexible Products & Services
    2,962       —       2,962       —  
 
                       
Total non-cash intangible asset impairment charge
    2,962       —       2,962       —  
 
                       
Operating profit before special items:
                               
Rigid Industrial Packaging & Services
    77,531       79,417       198,491       206,836  
Flexible Products & Services
    11,932       5,747       30,946       12,277  
Paper Packaging
    16,861       23,337       56,094       34,784  
Land Management
    10,743       2,522       16,114       6,013  
 
                       
Total operating profit before special items*
  $ 117,067     $ 111,023     $ 301,645     $ 259,910  
 
                       
Depreciation, depletion and amortization expense:
                               
Rigid Industrial Packaging & Services
  $ 22,496     $ 18,394     $ 64,693     $ 59,584  
Flexible Products & Services
    4,157       902       12,477       1,882  
Paper Packaging
    7,786       7,801       23,363       21,611  
Land Management
    476       652       2,084       1,850  
 
                       
Total depreciation, depletion and amortization expense
  $ 34,915     $ 27,749     $ 102,617     $ 84,927  
 
                       
     
*  
Total operating profit before special items represents operating profit before the impact of restructuring charges, restructuring-related inventory charges, acquisition-related costs and a non-cash intangible asset impairment charge.
The following table presents net sales to external customers by geographic area (Dollars in thousands):
                                 
    Three months ended July 31,     Nine months ended July 31,  
    2011     2010     2011     2010  
Net sales:
                               
North America
  $ 502,391     $ 465,268     $ 1,426,171     $ 1,247,095  
Europe, Middle East and Africa
    445,301       313,756       1,196,979       826,674  
Asia Pacific and Latin America
    174,210       142,309       493,310       393,826  
 
                       
Total net sales
  $ 1,121,902     $ 921,333     $ 3,116,460     $ 2,467,595  
 
                       
The following table presents total assets by segment and geographic area (Dollars in thousands):
      00000000000000        00000000000000   
    July 31, 2011     October 31, 2010  
Assets:
               
Rigid Industrial Packaging & Services
  $ 2,543,611     $ 2,094,244  
Flexible Products & Services
    380,518       353,715  
Paper Packaging
    436,286       435,555  
Land Management
    278,678       274,352  
 
           
Total segments
    3,639,093       3,157,866  
 
           
Corporate and other
    364,799       340,579  
 
           
Total assets
  $ 4,003,892     $ 3,498,445  
 
           
      00000000000000        00000000000000   
Assets:
               
North America
  $ 1,519,120     $ 1,895,475  
Europe, Middle East and Africa
    1,573,068       1,012,131  
Asia Pacific and Latin America
    911,704       590,839  
 
           
Total assets
  $ 4,003,892     $ 3,498,445