0000043920-20-000074 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Oct. 31, 2020	Dec. 14, 2020	Apr. 30, 2020
Document Information [Line Items]
Entity Address, Postal Zip Code	43015
Entity Address, State or Province	OH
Entity Address, City or Town	Delaware
Entity Address, Address Line One	425 Winter Road
Entity Tax Identification Number	31-4388903
Entity Incorporation, State or Country Code	DE
Document Transition Report	false
Document Quarterly Report	true
Document Type	10-K
Amendment Flag	false
Document Period End Date	Oct. 31, 2020
Entity File Number	001-00566
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	GREIF, INC
Entity Central Index Key	0000043920
Current Fiscal Year End Date	--10-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
City Area Code	740
Local Phone Number	549-6000
Documents Incorporated by Reference	1. The Registrant’s Definitive Proxy Statement for use in connection with the Annual Meeting of Stockholders to be held on February 23, 2021 (the “2021 Proxy Statement”), portions of which are incorporated by reference into Parts II and III of this Form 10-K. The 2021 Proxy Statement will be filed within 120 days of October 31, 2020.
ICFR Auditor Attestation Flag	true
Class A common stock
Document Information [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	Class A Common Stock
Trading Symbol	GEF
Entity Common Stock, Shares Outstanding		26,444,986
Entity Public Float			$ 860,619,382
Class B common stock
Document Information [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	Class B Common Stock
Trading Symbol	GEF-B
Entity Common Stock, Shares Outstanding		22,007,725
Entity Public Float			$ 234,235,302

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Net sales	$ 4,515.0	$ 4,595.0	$ 3,873.8
Costs of products sold	3,600.3	3,635.1	3,084.9
Gross profit	914.7	959.9	788.9
Selling, general and administrative expenses	516.0	507.4	397.2
Restructuring charges	38.7	26.1	18.6
Acquisition and integration related costs	17.0	29.7	0.7
Non-cash asset impairment charges	18.5	7.8	8.3
Gain on disposal of properties, plants and equipment, net	(19.2)	(13.9)	(5.6)
(Gain) loss on disposal of businesses, net	38.8	3.7	(0.8)
Operating profit	304.9	399.1	370.5
Interest expense, net	115.8	112.5	51.0
Debt extinguishment charges	0.0	22.0	0.0
Non-cash pension settlement charges	0.3	0.0	1.3
Other expense, net	2.7	2.6	18.4
Income before income tax expense and equity earnings of unconsolidated affiliates, net	186.1	262.0	299.8
Income tax expense	63.3	70.7	73.3
Equity earnings of unconsolidated affiliates, net of tax	(1.5)	(2.9)	(3.0)
Net income	124.3	194.2	229.5
Net income attributable to noncontrolling interests	(15.5)	(23.2)	(20.1)
Net income attributable to Greif, Inc.	$ 108.8	$ 171.0	$ 209.4
Class A common stock
Basic earnings per share attributable to Greif, Inc. common shareholders:
Basic earnings per share attributable to Greif, Inc. common shareholders (usd per share)	$ 1.83	$ 2.89	$ 3.56
Diluted earnings per share attributed to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	1.83	2.89	3.55
Class B common stock
Basic earnings per share attributable to Greif, Inc. common shareholders:
Basic earnings per share attributable to Greif, Inc. common shareholders (usd per share)	2.74	4.33	5.33
Diluted earnings per share attributed to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	$ 2.74	$ 4.33	$ 5.33

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 124.3	$ 194.2	$ 229.5
Other comprehensive income (loss), net of tax:
Foreign currency translation	(9.8)	(4.5)	(45.5)
Derivative financial instruments	(12.0)	(26.1)	7.7
Minimum pension liabilities	15.1	(25.3)	16.3
Other comprehensive income (loss), net of tax	(6.7)	(55.9)	(21.5)
Comprehensive income	117.6	138.3	208.0
Comprehensive income attributable to noncontrolling interests	2.6	23.9	18.1
Comprehensive income attributable to Greif, Inc.	$ 115.0	$ 114.4	$ 189.9

Consolidated Balance Sheets - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Current assets
Cash and cash equivalents	$ 105.9	$ 77.3
Trade accounts receivable, less allowance of $9.4 in 2020 and $6.8 in 2019	636.6	664.2
Inventories:
Raw materials	208.4	238.4
Work-in-process	5.4	11.3
Finished goods	79.8	108.5
Assets held for sale	57.0	4.1
Assets held by special purpose entities	115.8	101.2
Prepaid expenses	43.0	44.0
Other current assets	115.8	101.2
Total current assets	1,302.8	1,249.0
Long-term assets
Goodwill	1,518.4	1,517.8
Other intangible assets, net of amortization	715.3	776.5
Deferred tax assets	11.3	15.9
Other long-term assets	99.2	90.9
Pension assets	29.5	35.4
Operating lease assets	307.5	0.0
Total long-term assets	2,681.2	2,487.4
Properties, plants and equipment
Timber properties, net of depletion	224.5	272.4
Land	162.6	178.0
Buildings	524.7	531.0
Machinery and equipment	1,930.6	1,866.2
Capital projects in progress	120.6	170.4
Properties, plants and equipment, gross	2,963.0	3,018.0
Accumulated depreciation	(1,436.1)	(1,327.7)
Properties, plants and equipment, net	1,526.9	1,690.3
Total assets	5,510.9	5,426.7
Current liabilities
Accounts payable	450.7	435.2
Accrued payroll and employee benefits	122.3	142.4
Restructuring reserves	21.6	11.3
Current portion of long-term debt	123.1	83.7
Short-term borrowings	28.4	9.2
Liabilities held by special purpose entities	158.4	143.6
Current portion of operating lease liabilities	52.3	0.0
Other current liabilities	158.4	143.6
Total current liabilities	1,000.1	825.4
Long-term liabilities
Long-term debt	2,335.5	2,659.0
Operating lease liabilities	257.7	0.0
Deferred tax liabilities	339.2	313.0
Pension liabilities	137.7	177.6
Post-retirement benefit obligations	11.6	12.2
Other long-term liabilities	152.0	128.9
Contingent liabilities and environmental reserves	20.2	18.7
Mandatorily redeemable noncontrolling interests	8.4	8.4
Long-term income tax payable	27.8	27.8
Total long-term liabilities	3,290.1	3,388.9
Commitments and Contingencies (Note 11)
Redeemable Noncontrolling Interests (Note 18)	20.0	21.3
Equity
Common stock, without par value	170.2	162.6
Treasury stock, at cost	(134.4)	(134.8)
Retained earnings	1,543.9	1,539.0
Accumulated other comprehensive income (loss), net of tax:
Total Greif, Inc. shareholders’ equity	1,152.2	1,133.1
Noncontrolling interests	48.5	58.0
Total shareholders’ equity	1,200.7	1,191.1
Total liabilities and shareholders’ equity	5,510.9	5,426.7
Foreign Currency Translation
Accumulated other comprehensive income (loss), net of tax:
Total Greif, Inc. shareholders’ equity	(294.9)	(298.0)
Derivative financial instruments
Accumulated other comprehensive income (loss), net of tax:
Total Greif, Inc. shareholders’ equity	(24.7)	(12.7)
Minimum Pension Liability Adjustment
Accumulated other comprehensive income (loss), net of tax:
Total Greif, Inc. shareholders’ equity	(107.9)	(123.0)
Variable Interest Entity, Primary Beneficiary
Inventories:
Assets held by special purpose entities	50.9	0.0
Other current assets	50.9	0.0
Long-term assets
Other long-term assets	0.0	50.9
Current liabilities
Liabilities held by special purpose entities	43.3	0.0
Other current liabilities	43.3	0.0
Long-term liabilities
Other long-term liabilities	$ 0.0	$ 43.3

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Statement of Financial Position [Abstract]
Allowance of trade accounts receivable	$ 9.4	$ 6.8

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Cash flows from operating activities:
Net income	$ 124.3	$ 194.2	$ 229.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	242.5	206.1	126.9
Non-cash asset impairment charges	18.5	7.8	8.3
Non-cash pension settlement charges	0.3	0.0	1.3
Gain on disposals of properties, plants and equipment, net	(19.2)	(13.9)	(5.6)
(Gain) loss on disposal of businesses, net	38.8	3.7	(0.8)
Unrealized foreign exchange (gain) loss	(4.2)	3.0	(0.7)
Deferred income tax (benefit) expense	16.7	2.1	(44.8)
Transition tax (benefit) expense	0.0	(0.8)	52.8
Debt extinguishment charges	0.0	14.0	0.0
Non-cash lease expense	57.4	0.0	0.0
Other, net	(3.0)	4.2	(2.8)
Increase (decrease) in cash from changes in certain assets and liabilities:
Trade accounts receivable	(9.1)	55.1	(34.0)
Inventories	27.1	33.9	(24.8)
Deferred purchase price on sold receivables	0.0	(6.9)	2.1
Accounts payable	38.1	(69.9)	24.3
Restructuring reserves	10.2	6.7	(0.8)
Operating leases	(56.8)	0.0	0.0
Pension and post-retirement benefit liabilities	(13.3)	(15.3)	(66.8)
Other, net	(13.6)	(34.5)	(11.1)
Net cash provided by operating activities	454.7	389.5	253.0
Cash flows from investing activities:
Acquisitions of companies, net of cash acquired	0.0	(1,857.9)	0.0
Purchases of properties, plants and equipment	(131.4)	(156.8)	(140.2)
Purchases of and investments in timber properties	(5.4)	(5.4)	(8.9)
Purchases of equity method investments	(3.6)	0.0	0.0
Proceeds from the sale of properties, plants, equipment and other assets	33.4	28.7	12.5
Proceeds from the sale of businesses	80.9	1.5	1.4
Proceeds on insurance recoveries	0.9	0.6	0.0
Net cash used in investing activities	(25.2)	(1,989.3)	(135.2)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,319.9	3,732.3	1,020.7
Payments on long-term debt	(1,578.4)	(2,075.6)	(1,065.4)
Proceeds (payments) on short-term borrowings, net	17.0	2.2	(11.0)
Proceeds from trade accounts receivable credit facility	76.8	181.4	2.8
Payments on trade accounts receivable credit facility	(122.9)	(89.2)	(2.8)
Dividends paid to Greif, Inc. shareholders	(104.3)	(104.0)	(100.0)
Dividends paid to noncontrolling interests	(13.4)	(9.2)	(4.6)
Payments for debt extinguishment and issuance costs	0.0	(44.1)	0.0
Purchases of redeemable noncontrolling interest	0.0	(11.9)	0.0
Cash contribution from noncontrolling interest holder	0.0	1.6	2.0
Net cash provided (used in) by financing activities	(405.3)	1,583.5	(158.3)
Effects of exchange rates on cash	4.4	(0.6)	(7.6)
Net increase (decrease) in cash and cash equivalents	28.6	(16.9)	(48.1)
Cash and cash equivalents at beginning of year	77.3	94.2	142.3
Cash and cash equivalents at end of year	105.9	77.3	94.2
Non-cash transactions:
Capital expenditures included in accounts payable	17.2	18.6	11.4
Schedule of interest and income taxes paid:
Cash payments for interest expense	119.9	161.8	58.3
Cash payments for taxes	$ 65.1	$ 71.4	$ 65.2

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Executive Officer [Member]	Director [Member]	Capital Stock	Capital Stock Executive Officer [Member]	Capital Stock Director [Member]	Treasury Stock	Treasury Stock Executive Officer [Member]	Treasury Stock Director [Member]	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Greif, Inc. Equity	Greif, Inc. Equity Executive Officer [Member]	Greif, Inc. Equity Director [Member]	Greif, Inc. Equity Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interests
Beginning balance (shares) at Oct. 31, 2017				47,843			28,999
Beginning balance, value at Oct. 31, 2017	$ 1,047.5			$ 144.2			$ (135.6)			$ 1,360.5		$ (358.2)	$ 1,010.9				$ 36.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	229.5									209.4			209.4				20.1
Other comprehensive income (loss):
Foreign currency translation	(45.5)											(43.5)	(43.5)				(2.0)
Derivative financial instruments, net of income tax expense (benefit)	7.7									(0.6)		8.3	7.7
Minimum pension liability adjustment, net of income tax expense	16.3											16.3	16.3
Comprehensive income	208.0												189.9
Current period mark to redemption value of redeemable noncontrolling interest	0.5									0.5			0.5
Net income allocated to redeemable noncontrolling interests	(3.7)																(3.7)
Dividends paid	(100.0)									(100.0)			(100.0)
Dividends paid to noncontrolling interests	(4.6)																(4.6)
Restricted stock executives and directors (shares)				21			(21)
Restricted stock directors	1.2			$ 1.2			$ 0.0						1.2
Long-term incentive shares issued (shares)				85			(85)
Long-term incentive shares issued	5.3			$ 5.1			$ 0.2						5.3
Ending balance (shares) at Oct. 31, 2018				47,949			28,893
Ending balance, value at Oct. 31, 2018	1,154.2			$ 150.5			$ (135.4)			1,469.8	$ (2.1)	(377.1)	1,107.8			$ (2.1)	46.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	194.2									171.0			171.0				23.2
Other comprehensive income (loss):
Foreign currency translation	(4.5)											(5.2)	(5.2)				0.7
Derivative financial instruments, net of income tax expense (benefit)	(26.1)											(26.1)	(26.1)
Minimum pension liability adjustment, net of income tax expense	(25.3)											(25.3)	(25.3)
Comprehensive income	138.3												114.4
Current period mark to redemption value of redeemable noncontrolling interest	4.9									4.9			4.9
Net income allocated to redeemable noncontrolling interests	(2.3)																(2.3)
Dividends paid	(104.0)									(104.0)			(104.0)
Dividends paid to noncontrolling interests	(7.9)																(7.9)
Acquisition of noncontrolling interest and other	(2.7)									(0.6)			(0.6)				(2.1)
Restricted stock executives and directors (shares)				25			(25)
Restricted stock directors	1.1			$ 1.1			$ 0.0						1.1
Long-term incentive shares issued (shares)				292			(292)
Long-term incentive shares issued	11.6			$ 11.0			$ 0.6						11.6
Ending balance (shares) at Oct. 31, 2019				48,266			28,576
Ending balance, value at Oct. 31, 2019	$ 1,191.1			$ 162.6			$ (134.8)			1,539.0		(433.7)	1,133.1				58.0
Other comprehensive income (loss):
Adoption of ASU 2016-16	gef:Accountingstandardsupdate201616_1
Net income	$ 124.3									108.8			108.8				15.5
Foreign currency translation	(9.8)											3.1	3.1				(12.9)
Derivative financial instruments, net of income tax expense (benefit)	(12.0)											(12.0)	(12.0)
Minimum pension liability adjustment, net of income tax expense	15.1											15.1	15.1
Comprehensive income	117.6												115.0
Current period mark to redemption value of redeemable noncontrolling interest	0.4									0.4			0.4
Net income allocated to redeemable noncontrolling interests	(0.1)																(0.1)
Dividends paid	(104.3)									(104.3)			(104.3)
Dividends paid to noncontrolling interests	(12.0)																(12.0)
Long-term incentive shares issued	5.3												5.3
Restricted stock executives and directors (shares)					3	28		(3)	(28)
Restricted stock directors		$ 0.1	$ 1.1		$ 0.1	$ 1.0		$ 0.0	$ 0.1					$ 0.1	$ 1.1
Long-term incentive shares issued (shares)				153			(153)
Long-term incentive shares issued				$ 5.0			$ 0.3
Share based compensation	1.5			$ 1.5									1.5
Ending balance (shares) at Oct. 31, 2020				48,450			28,392
Ending balance, value at Oct. 31, 2020	$ 1,200.7			$ 170.2			$ (134.4)			$ 1,543.9		$ (427.5)	$ 1,152.2				$ 48.5

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Derivative gain (loss), tax	$ 4.0	$ 8.6	$ 3.3
Defined benefit plan, tax	$ (4.8)	$ 1.1	$ (4.1)
Adoption of ASU 2016-16		gef:Accountingstandardsupdate201616_1
Class A common stock
Dividend paid (usd per share)	$ 1.76	$ 1.76
Common Stock, Dividends, Per Share, Declared (in USD per share)			$ 1.70
Class B common stock
Dividend paid (usd per share)	$ 2.63	$ 2.63	$ 2.54

- Definition

Indicates amendment to accounting standards.

+ References

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+ Details

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Business

Greif, Inc. and its subsidiaries (collectively, “Greif,” “our,” or the “Company”), principally manufacture 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 provides services, such as container life cycle management, filling, logistics, warehousing and other packaging services. The Company produces containerboard, corrugated sheets, corrugated containers and other corrugated and specialty products to customers in North America. The Company also produces coated and uncoated recycled paperboard, along with tubes and cores which are used in a variety of applications that include industrial products (construction products, protective packaging, and adhesives). In addition, we also purchase and sell recycled fiber. The Company is a leading global producer of flexible intermediate bulk containers. In addition, the Company owns timber properties in the southeastern United States which are actively harvested and regenerated. The Company has operations in over 40 countries.

Due to the variety of its products, the Company has many customers buying different products and due to the scope of the Company’s sales, no one customer is considered principal in the total operations of the Company.

The Company supplies a cross section of industries, such as chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agricultural, pharmaceutical, mineral, packaging, automotive and building products, and makes spot deliveries on a day-to-day basis as its products are required by its customers. The Company does not operate on a backlog to any significant extent and maintains only limited levels of finished goods. Many customers place their orders weekly for delivery during the same week.

The Company’s raw materials are principally steel, resin, containerboard, old corrugated containers, pulpwood, recycled coated and uncoated paperboard and used industrial packaging for reconditioning.

There were approximately 16,000 full time employees of the Company as of October 31, 2020.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and majority-owned subsidiaries, joint ventures controlled by the Company or for which the Company is the primary beneficiary, including the joint venture relating to the Flexible Products & Services segment, and equity earnings of unconsolidated affiliates. All intercompany transactions and balances have been eliminated in consolidation. Investments in unconsolidated affiliates are accounted for using the equity method based on the Company’s ownership interest in the unconsolidated affiliate.

The Company’s consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States (“GAAP”). Certain prior year amounts have been reclassified to conform to the current year presentation.

The Company’s fiscal year begins on November 1 and ends on October 31 of the following year. Any references to years or to any quarter of those years, relates to the fiscal year or quarter, as the case may be, ended in that year, unless otherwise stated.

Argentina Currency

The Company’s results with respect to the business of its Argentinian subsidiary have been reported under highly inflationary accounting in accordance with Accounting Standards Codification ("ASC") 830, "Foreign Currency Matters," beginning on August 1, 2018. As of October 31, 2020, the Company's Argentina subsidiary represented approximately 1% of the Company’s consolidated net revenues and less than 1% of its consolidated total assets.

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The most significant estimates are related to the expected useful lives assigned to properties, plants and equipment, goodwill and other intangible assets, estimates of fair value, environmental liabilities, pension and post-retirement benefits, including plan assets, income taxes, net assets held for sale and contingencies. Actual amounts could differ from those estimates.

Cash and Cash Equivalents

The Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents. The carrying value of cash equivalents approximates fair value.

Allowance for Doubtful Accounts

Trade receivables represent amounts owed to the Company through its operating activities and are presented net of allowance for doubtful accounts. The allowance for doubtful accounts totaled $9.4 million and $6.8 million as of October 31, 2020 and 2019, respectively. The Company evaluates the collectability of its accounts receivable based on a combination of factors. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations to the Company, the Company records a specific allowance for bad debts against amounts due to reduce the net recognized receivable to the amount the Company reasonably believes will be collected. In addition, the Company recognizes allowances for bad debts based on the length of time receivables are past due with allowance percentages, based on its historical experiences, applied on a graduated scale relative to the age of the receivable amounts. If circumstances such as higher than expected bad debt experience or an unexpected material adverse change in a major customer’s ability to meet its financial obligations to the Company were to occur, the recoverability of amounts due to the Company could change by a material amount. Amounts deemed uncollectible are written-off against an established allowance for doubtful accounts.

Concentration of Credit Risk and Major Customers

The Company maintains cash depository accounts with banks throughout the world and invests in high quality short-term liquid instruments. Such investments are made only in instruments issued by high quality institutions. These investments mature within three months and the Company has not incurred any related losses for the years ended October 31, 2020, 2019, and 2018.

Trade receivables can be potentially exposed to a concentration of credit risk with customers or in particular industries. Such credit risk is considered by management to be limited due to the Company’s many customers, none of which are considered principal in the total operations of the Company, and its geographic scope of operations in a variety of industries throughout the world. The Company does not have an individual customer that exceeds 10 percent of total revenue. In addition, the Company performs ongoing credit evaluations of its customers’ financial conditions and maintains reserves for credit losses. Such losses historically have been within management’s expectations.

Inventory

The Company primarily uses the FIFO method of inventory valuation. Reserves for slow moving and obsolete inventories are provided based on historical experience, inventory aging and product demand. The Company continuously evaluates the adequacy of these reserves and makes adjustments to these reserves as required.

The Paper Packaging & Services segment trades certain inventories with third parties. These inventory trades are accounted for as non-monetary exchanges and any unfavorable imbalances, resulting from these trades, are recorded as a liability.

Net Assets Held for Sale

Net assets held for sale represent land, buildings and other assets and liabilities for locations that have met the criteria of “held for sale” accounting, as specified by ASC 360, “Property, Plant, and Equipment,” at the lower of carrying value or fair value less cost to sell. Fair value is based on the estimated proceeds from the sale of the assets utilizing recent purchase offers, market comparables and/or reliable third party data. The Company's estimate as to fair value is regularly reviewed and assets are subject to changes, such as in the commercial real estate markets and the Company's continuing evaluation as to the asset’s acceptable sale price. As of October 31, 2020, there was one asset group within the Rigid Industrial Packaging & Services, four asset groups within Paper Packaging & Services segment, one asset group within Land Management segment and zero asset groups within the Corporate and Other segment classified as assets and liabilities held for sale. The effect of suspending depreciation and depletion on the facilities and timberlands, respectively, held for sale is immaterial to the results of operations. The net assets held for sale are being marketed for sale and it is the Company’s intention to complete the sales of these assets within the upcoming year, assuming offers deemed sufficient by management are received as result of marketing efforts. See Note 7 herein for additional information regarding assets and liabilities held for sale.

Goodwill and Indefinite-Lived Intangibles

Goodwill is the excess of the purchase price of an acquired entity over the amounts assigned to tangible and intangible assets and liabilities assumed in the business combination. The Company accounts for purchased goodwill and indefinite-lived

intangible assets in accordance with ASC 350, “Intangibles – Goodwill and Other.” Under ASC 350, purchased goodwill and intangible assets with indefinite lives are not amortized, but instead are tested for impairment at least annually. The Company tests for impairment of goodwill and indefinite-lived intangible assets as of August 1, or more frequently if certain indicators are present or changes in circumstances suggest that impairment may exist.

In accordance with ASC 350, the Company has the option to first assess qualitative factors to determine whether it is necessary to perform the quantitative test for goodwill impairment. If the Company believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. The quantitative test for goodwill impairment is conducted at the reporting unit level by comparing the carrying value of each reporting unit to the estimated fair value of the unit. If the carrying value of a reporting unit exceeds its estimated fair value, then the goodwill of the reporting unit is impaired. Goodwill impairment is recognized as the amount that the carrying value exceeds the fair value; not to exceed the balance of goodwill attributable to the reporting unit. When a portion of a reporting unit is disposed of, goodwill is allocated to the gain or loss on that disposition based on the relative fair values of the portion of the reporting unit subject to disposition and the portion of the reporting unit that will be retained.

The Company’s determinations of estimated fair value of the reporting units are based on both the market approach and a discounted cash flow analysis utilizing the income approach. Under the market approach, the principal inputs are market prices and valuation multiples for public companies engaged in businesses that are considered comparable to the reporting unit. Under the income approach, the principal inputs are the reporting unit’s cash-generating capabilities and the discount rate. The discount rates used in the income approach are based on a market participant’s weighted average cost of capital. The use of alternative estimates, including different peer groups or changes in the industry, or adjusting the discount rate, earnings before interest, taxes, depreciation, depletion and amortization forecasts or cash flow assumptions used could affect the estimated fair value of the reporting units and potentially result in goodwill impairment. Any identified impairment would result in an expense to the Company’s results of operations. See Note 3 for additional information regarding goodwill and other intangible assets.

Other Intangibles

The Company accounts for intangible assets in accordance with ASC 350. Definite lived intangible assets are amortized over their useful lives on a straight-line basis. The useful lives for definite lived intangible assets vary depending on the type of asset and the terms of contracts or the valuation performed. Amortization expense on intangible assets is recorded on the straight-line method over their useful lives as follows:


			Years
Trade names			1-15
Customer relationships			5-25
Non-compete agreements			1-10
Other intangibles			1-20

Acquisitions

From time to time, the Company acquires businesses and/or assets that augment and complement its operations. In accordance with ASC 805, “Business Combinations,” these acquisitions are accounted for under the purchase method of accounting. Under this method, the Company allocates the fair value of purchase consideration transferred to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the date of the acquisition. The excess purchase consideration over the aggregate fair value of tangible and intangible assets, net of liabilities assumed, is recorded as goodwill. The Company's estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates.

During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the consolidated statements of operations. Acquisition costs, such as legal and consulting fees, are expensed as incurred.

The Company classifies costs incurred in connection with acquisitions and their integration as acquisition and integration related costs. These costs are expensed as incurred and consist primarily of transaction costs, legal and consulting fees, integration costs and changes in the fair value of contingent payments (earn-outs) and are recorded within Acquisition and Integration related Costs line item presented on the consolidated income statement. Acquisition transaction costs are incurred during the initial evaluation of a potential targeted acquisition and primarily relate to costs to analyze, negotiate and

consummate the transaction as well as financial and legal due diligence activities. Post-acquisition integration activities are costs incurred to combine the operations of an acquired enterprise into the Company’s operations.

The consolidated financial statements include the results of operations from these business combinations from the date of acquisition.

Internal Use Software

Internal use software is accounted for under ASC 985, “Software.” Internal use software is software that is acquired, internally developed or modified solely to meet the Company’s needs and for which, during the software’s development or modification, a plan does not exist to market the software externally. Costs incurred to develop the software during the application development stage and for upgrades and enhancements that provide additional functionality are capitalized and then amortized over a three to ten year period. Internal use software is capitalized as a component of machinery and equipment on the Consolidated Balance Sheets.

Long-Lived Assets

Properties, plants and equipment are stated at cost. Depreciation on properties, plants and equipment is provided on the straight-line method over the estimated useful lives of the assets as follows:


			Years
Buildings			30-40
Machinery and equipment			5-15

Depreciation expense was $169.1 million, $149.0 million and $107.5 million in 2020, 2019 and 2018, respectively. Expenditures for repairs and maintenance are charged to expense as incurred. When properties are retired or otherwise disposed of, the cost and accumulated depreciation are eliminated from the asset and related allowance accounts. Gains or losses are credited or charged to income as incurred.

The Company capitalizes interest on long-term fixed asset projects using a rate that approximates the weighted average cost of borrowing. For the years ended October 31, 2020, 2019, and 2018, the Company capitalized interest costs of $4.5 million, $5.6 million, and $4.5 million, respectively.

The Company tests for impairment of properties, plants and equipment if certain indicators are present to suggest that impairment may exist. Long-lived assets are grouped together at the lowest level, generally at the plant level, for which identifiable cash flows are largely independent of cash flows of other groups of long-lived assets. As events warrant, the Company evaluates the recoverability of long-lived assets, other than goodwill and indefinite-lived intangible assets, by assessing whether the carrying value can be recovered over their remaining useful lives through the expected future undiscounted operating cash flows of the underlying business. Impairment indicators include, but are not limited to, a significant decrease in the market price of a long-lived asset; a significant adverse change in the manner in which the asset is being used or in its physical condition; a significant adverse change in legal factors or the business climate that could affect the value of a long-lived asset; an accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of a long-lived asset; current period operating or cash flow losses combined with a history of operating or cash flow losses associated with the use of the asset; or a current expectation that it is more likely than not that a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. Future decisions to change our manufacturing processes, exit certain businesses, reduce excess capacity, temporarily idle facilities and close facilities could also result in material impairment losses. Any impairment loss that may be required is determined by comparing the carrying value of the assets to their estimated fair value.

As of October 31, 2020, the Company's timber properties consisted of approximately 244,000 acres, all of which were located in the southeastern United States. The Company’s land costs are maintained by tract. Upon acquisition of a new timberland tract, the Company records separate amounts for land, merchantable timber and pre-merchantable timber allocated as a percentage of the values being purchased. The Company begins recording pre-merchantable timber costs at the time the site is prepared for planting. Costs capitalized during the establishment period include site preparation by aerial spray, costs of seedlings, including refrigeration rental and trucking, planting costs, herbaceous weed control, woody release, and labor and machinery use. The Company does not capitalize interest costs in the process. Property taxes are expensed as incurred. New road construction costs are capitalized as land improvements and depreciated over 20 years. Road repairs and maintenance costs are expensed as incurred. Costs after establishment of the seedlings, including management costs, pre-commercial thinning costs and fertilization costs, are expensed as incurred. Once the timber becomes merchantable, the cost is transferred from the pre-merchantable timber category to the merchantable timber category in the depletion block.

Merchantable timber costs are maintained by five product classes: pine sawtimber, pine chip-n-saw, pine pulpwood, hardwood sawtimber and hardwood pulpwood, within a depletion block, with each depletion block based upon a geographic district or subdistrict. Currently, the Company has eight depletion blocks. These same depletion blocks are used for pre-merchantable timber costs. Each year, the Company estimates the volume of the Company’s merchantable timber for the five product classes by each depletion block and depletion costs recognized upon sales are calculated as volumes sold times the unit costs in the respective depletion block. Depletion expense was $4.0 million, $3.7 million and $4.0 million in 2020, 2019 and 2018, respectively.

Contingencies

Various lawsuits, claims and proceedings have been or may be instituted or asserted against the Company, including those pertaining to environmental, product liability and safety and health matters. While the amounts claimed may be substantial, the ultimate liability cannot currently be determined because of the considerable uncertainties that exist.

All lawsuits, claims and proceedings are considered by the Company in establishing reserves for contingencies in accordance with ASC 450, “Contingencies.” In accordance with the provisions of ASC 450, the Company accrues for a litigation-related liability when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on currently available information known to the Company, the Company believes that its reserves for these litigation-related liabilities are reasonable and that the ultimate outcome of any pending matters is not likely to have a material effect on the Company’s financial position or results of operations.

Environmental Cleanup Costs

The Company accounts for environmental cleanup costs in accordance with ASC 410, “Asset Retirement and Environmental Obligations.” The Company expenses environmental expenditures related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Expenditures that extend the life of the related property or mitigate or prevent future environmental contamination are capitalized. The Company determines its liability on a site-by-site basis and records a liability at the time when it is probable and can be reasonably estimated. The Company’s estimated liability is reduced to reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of the relevant costs.

Self-insurance

The Company is self-insured for certain of the claims made under its employee medical and dental insurance programs. The Company had recorded liabilities totaling $7.2 million and $7.6 million for estimated costs related to outstanding claims as of October 31, 2020 and 2019, respectively. These costs include an estimate for expected settlements on pending claims, administrative fees and an estimate for claims incurred but not reported. These estimates are based on management’s assessment of outstanding claims, historical analyses and current payment trends. The Company recorded an estimate for the claims incurred, but not reported using an estimated lag period based upon historical information.

The Company has certain deductibles applied to various insurance policies including general liability, product, vehicle and workers’ compensation. The Company maintains liabilities totaling $24.7 million and $27.5 million for anticipated costs related to general liability, product, vehicle and workers’ compensation claims as of October 31, 2020 and 2019, respectively. These costs include an estimate for expected settlements on pending claims, defense costs and an estimate for claims incurred but not reported. These estimates are based on the Company’s assessment of its deductibles, outstanding claims, historical analysis, actuarial information and current payment trends.

Income Taxes

Income taxes are accounted for under ASC 740, “Income Taxes.” In accordance with ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as measured by enacted tax rates that are expected to be in effect in the periods when the deferred tax assets and liabilities are expected to be settled or realized. Valuation allowances are established when management believes it is more likely than not that some portion of the deferred tax assets will not be realized.

The Company’s effective tax rate is impacted by the amount of income generated in each taxing jurisdiction, statutory tax rates and tax planning opportunities available to the Company in the various jurisdictions in which the Company operates. Significant judgment is required in determining the Company’s effective tax rate and in evaluating its tax positions.

Tax benefits from uncertain tax positions are recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. The amount recognized is measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon settlement. The Company’s effective tax rate includes the impact of reserve provisions and changes to reserves on uncertain tax positions that are not more likely than not to be sustained upon examination as well as related interest and penalties.

A number of years may elapse before a particular matter, for which the Company has established a reserve, is audited and finally resolved. The number of years with open tax audits varies depending on the tax jurisdiction. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, the Company believes that its reserves reflect the probable outcome of known tax contingencies. Unfavorable settlement of any particular issue would require use of the Company’s cash. Favorable resolution would be recognized as a reduction to the Company’s effective tax rate in the period of resolution.

Equity earnings of unconsolidated affiliates, net of tax

Equity earnings of unconsolidated affiliates, net of tax represent the Company’s share of earnings of affiliates in which the Company does not exercise control, but has significant influence. Investments in such affiliates are accounted for using the equity method of accounting. The Company has an equity interest in three such affiliates as of October 31, 2020. If the fair value of an investment in an affiliate is below its carrying value and the difference is deemed to be other than temporary, the difference between the fair value and the carrying value is charged to earnings.

Other Comprehensive Income

The Company's other comprehensive income is significantly impacted by foreign currency translation, effective cash flow hedges and defined benefit pension and post-retirement benefit adjustments.

The impact of foreign currency translation is affected by the translation of assets, liabilities and operations of the Company's foreign subsidiaries which are denominated in functional currencies other than the U.S. dollar and the recognition of accumulated foreign currency translation upon the disposal of foreign entities. The primary assets and liabilities affecting the adjustments are: cash and cash equivalents; accounts receivable; inventory; properties, plants and equipment; accounts payable; pension and other post-retirement benefit obligations; and certain intercompany loans payable and receivable. The primary currencies in which these assets and liabilities are denominated are the Euro, Brazilian real, and Chinese yuan.

The impact of effective cash flow hedges is reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Currently, interest rate swaps are held by the Company to effectively convert a portion of floating rate debt to a fixed rate basis, thus reducing the impact of interest rate increases on future interest expense. The Company uses the regression method for assessing the effectiveness of the swaps.

The impact of defined benefit pension and post-retirement benefit adjustments is primarily affected by unrecognized actuarial gains and losses related to the Company's defined benefit and other post-retirement benefit plans, as well as the subsequent amortization of gains and losses from accumulated other comprehensive income in periods following the initial recording of such items. These actuarial gains and losses are determined using various assumptions, the most significant of which are (i) the weighted average rate used for discounting the liability, (ii) the weighted average expected long-term rate of return on pension plan assets, (iii) the method used to determine market-related value of pension plan assets, (iv) the weighted average rate of future salary increases and (v) the anticipated mortality rate tables.

Restructuring Charges

The Company accounts for all exit or disposal activities in accordance with ASC 420, “Exit or Disposal Cost Obligations.” Under ASC 420, a liability is measured at its fair value and recognized as incurred.

Employee-related costs primarily consist of one-time termination benefits provided to employees who have been involuntarily terminated. A one-time benefit arrangement is an arrangement established by a plan of termination that applies for a specified termination event or for a specified future period. A one-time benefit arrangement exists at the date the plan of termination meets all of the following criteria and has been communicated to employees:

(1)Management, having the authority to approve the action, commits to a plan of termination.

(2)The plan identifies the number of employees to be terminated, their job classifications or functions and their locations, and the expected completion date.

(3)The plan establishes the terms of the benefit arrangement, including the benefits that employees will receive upon termination (including but not limited to cash payments), in sufficient detail to enable employees to determine the type and amount of benefits they will receive if they are involuntarily terminated.

(4)Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Facility exit and other costs consist of equipment relocation costs and project consulting fees. A liability for other costs associated with an exit or disposal activity is recognized and measured at its fair value in the period in which the liability is incurred (generally, when goods or services associated with the activity are received). The liability is no recognized before it is incurred, even if the costs are incremental to other operating costs and will be incurred as a direct result of a plan.

Pension and Post-retirement Benefits

Under ASC 715, “Compensation – Retirement Benefits,” the Company recognizes the funded status of its defined benefit pension and other post-retirement plans on the consolidated balance sheet and records as a component of other comprehensive income, net of tax, the gains or losses and prior service costs or credits that have not been recognized as components of the net periodic benefit cost.

Stock-Based Compensation Expense

The Company recognizes stock-based compensation expense in accordance with ASC 718, “Compensation – Stock Compensation.” ASC 718 requires the measurement and recognition of compensation expense, based on estimated fair values, for all share-based awards made to employees and directors, including stock options, restricted stock, restricted stock units and participation in the Company’s employee stock purchase plan.

Revenue Recognition

Revenue is measured as the amount of consideration the Company expects to be entitled to in exchange for transferring goods or providing services. Customer payment terms are typically less than one year and as such, transaction prices are not adjusted for the effects of a significant financing component. Standalone selling prices for each performance obligation are generally stated in the contract. Variable consideration in the form of volume rebates is estimated based on contract terms and historical experience of actual results limited to the amount which is probable will not result in reversal of cumulative revenue recognized when the variable consideration is resolved. Taxes collected from customers and remitted to governmental authorities are excluded from net sales.

For the vast majority of revenues, contracts with customers are either a purchase order or the combination of a purchase order with a master supply agreement. A performance obligation is considered an individual unit sold. The Company does not bundle products. Prices negotiated with each individual customer are representative of the stand-alone selling price of the product. The Company typically satisfies the performance obligation at a point in time when control is transferred to customers. The point in time when control of goods is transferred is largely dependent on delivery terms.

Contract liabilities relate primarily to prepayments received from the Company’s customers before revenue is recognized and from volume rebates to customers. These amounts are included in other current liabilities in the consolidated balance sheets. The Company does not have any material contract assets. Freight charged to customers is included in net sales in the income statement.

The Company's contracts with customers are broadly similar in nature throughout its reportable segments, but the amount, timing and uncertainty of revenue and cash flows may vary in each reportable segment due to geographic factors. See Note 15 herein for additional disclosures of revenue disaggregated by geography for each reportable segment.

Shipping and Handling Fees and Costs

The Company includes shipping and handling fees and costs in cost of products sold.

Other Expense, net

Other expense, net primarily represents foreign currency transaction gains and losses, non-service cost components of net periodic post-retirement benefit costs and other infrequent non-operating items.

Currency Translation

In accordance with ASC 830, “Foreign Currency Matters,” the assets and liabilities denominated in a foreign currency are translated into United States dollars at the rate of exchange existing at period-end, and revenues and expenses are translated at average exchange rates.

The cumulative translation adjustments, which represent the effects of translating assets and liabilities of the Company’s international operations, are presented in the consolidated statements of changes in shareholders’ equity in accumulated other comprehensive income (loss). Transaction gains and losses on foreign currency transactions denominated in a currency other than an entity’s functional currency are credited or charged to income. The amounts included in other expense, net related to foreign currency transaction losses were $4.2 million, $2.1 million and $8.8 million in 2020, 2019 and 2018, respectively.

Derivative Financial Instruments

In accordance with ASC 815, “Derivatives and Hedging,” the Company records all derivatives in the consolidated balance sheet as either assets or liabilities measured at fair value. Dependent on the designation of the derivative instrument, changes in fair value are recorded to earnings or shareholders’ equity through other comprehensive income (loss).

The Company may from time to time use interest rate swap agreements to hedge against changing interest rates. For interest rate swap agreements designated as cash flow hedges, the net gain or loss on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The Company's interest rate swap agreements effectively convert a portion of floating rate debt to a fixed rate basis, thus reducing the impact of interest rate increases on future interest expense.

The Company's cross currency interest rate swap agreement synthetically swaps U.S. dollar denominated fixed rate debt for Euro denominated fixed rate debt and is designated as a net investment hedge for accounting purposes. The gain or loss on this derivative instrument is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted, or liquidated. Interest payments received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the consolidated statements of income.

The Company enters into currency forward contracts to hedge certain currency transactions and short-term intercompany loan balances with its international businesses. Such contracts limit the Company’s exposure to both favorable and unfavorable currency fluctuations. These contracts are adjusted to reflect market value as of each balance sheet date, with the resulting changes in fair value being recognized in other expense, net.

Any derivative contract that is either not designated as a hedge, or is so designated but is ineffective, has its changes to market value recognized in earnings immediately. If a cash flow or fair value hedge ceases to qualify for hedge accounting, the contract would continue to be carried on the balance sheet at fair value until settled and have the adjustments to the contract’s fair value recognized in earnings. If a forecasted transaction were no longer probable to occur, amounts previously deferred in accumulated other comprehensive income (loss) would be recognized immediately in earnings.

Variable Interest Entities

The Company evaluates whether an entity is a variable interest entity (“VIE”) and determines if the primary beneficiary status is appropriate on a quarterly basis. The Company consolidates VIEs for which it is the primary beneficiary. If the Company is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity method of accounting. When assessing the determination of the primary beneficiary, the Company considers all relevant facts and circumstances, including: the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; the obligation to absorb the expected losses; and/or the right to receive the expected returns of the VIE.

Fair Value

The Company uses ASC 820, “Fair Value Measurements and Disclosures” to account for fair value. ASC 820 defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about assets and liabilities measured at fair value. Additionally, this standard established a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs.

The three levels of inputs used to measure fair values are as follows:

•Level 1 – Observable inputs such as unadjusted quoted prices in active markets for identical assets and liabilities.

•Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities.

•Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities.

The Company presents various fair value disclosures in Note 7 and Note 10 of the Notes to the consolidated financial statements.

Newly Adopted Accounting Standards

In February 2016 and July 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02 and ASU 2018-11, "Leases (Topic 842)," or ASC 842, which amends the lease accounting and disclosure requirements in ASC 840, "Leases." The objective of this update is to increase transparency and comparability among organizations recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about lease arrangements. The Company adopted ASU 2018-11 on November 1, 2019, utilizing a modified retrospective approach and did not adjust its comparative period financial information. The Company adopted the practical expedient package which permits the Company to not reassess previous conclusions whether a contract is or contains a lease, lease classification, or treatment of indirect costs for existing contracts as of the adoption date. The Company also adopted the short-term lease recognition exemption and the practical expedient allowing for the combination of lease and non-lease components for all leases except real estate, for which these components are presented separately. The Company has completed the lease collection and evaluation process, implemented a technology tool to assist with the accounting and reporting requirements of the new standard, and designed new processes and controls around leases. On the day of adoption, the Company capitalized onto the balance sheet $301.2 million of right-of-use assets and $305.8 million of lease liabilities related to operating leases. The adoption did not have a material impact on the Company's financial position, results of operations, comprehensive income, cash flows, or disclosures, other than as set forth above and in Note 14 of the Notes to Consolidated Financial Statements.

In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The objective of this ASU is to provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 were effective for all entities as of March 12, 2020 and will generally no longer be available to apply after December 31, 2022. The Company adopted this ASU as of the effective date and will utilize the optional expedients to the extent that they apply to the Company. The Company currently applies expedient guidance related to hedging relationships, which allowed the Company to amend hedge documentation, without dedesignating and redesignating, for all outstanding hedging relationships linked to expiring reference rates. The Company also has long-term debt and interest rate derivatives, as described in Note 6 and Note 7 of the Notes to Consolidated Financial Statements, respectively, which rely upon use of LIBOR. The Company applies additional practical expedients to these relationships during the remaining relief period. The adoption did not have a material impact on the Company's financial position, results of operations, comprehensive income, cash flows, or disclosures.

Recently Issued Accounting Standards

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses”. The ASU sets forth a current expected credit loss model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for years beginning after December 15, 2019, including interim periods within those years, with early adoption permitted. The Company plans to adopt this ASU on November 1, 2020. The Company does not anticipate the adoption of this guidance to have a material impact on its financial position, results of operations, comprehensive income, cash flows and disclosures.

Acquisitions and Divestitures

12 Months Ended

Oct. 31, 2020

Business Combinations [Abstract]

Acquisitions and Divestitures

ACQUISITIONS AND DIVESTITURESCaraustar Acquisition

The Company completed its acquisition of Caraustar Industries, Inc. and its subsidiaries (“Caraustar”) on February 11, 2019 (the “Caraustar Acquisition”). Caraustar was a leader in the production of coated and uncoated recycled paperboard, which is used in a variety of applications that include industrial products (tubes and cores, construction products, protective packaging, and adhesives) and consumer packaging products (folding cartons, set-up boxes, and packaging services). The total purchase price for this acquisition, net of cash acquired, was $1,834.9 million.

In connection with the preparation of the Company's consolidated financial statements for the year ended October 31, 2020, the Company identified a prior period error related to the initial purchase accounting for the Caraustar Acquisition. The error was a $14.6 million understatement of deferred tax liability that remained as of October 31, 2019. The error was corrected during the fourth quarter of 2020 by an adjustment to increase deferred tax liabilities with the offset as a correction to goodwill. The Company believes that the correction of this error was not material to the consolidated financial statements as of and for the years ended October 31, 2020 and 2019, respectively.

The following table, as revised from the closing of the measurement period as presented in the second quarter of 2020 and to account for the increase in deferred tax liabilities and goodwill acquired as discussed above, summarizes the consideration transferred to acquire Caraustar and the final valuation of identifiable assets acquired and liabilities assumed at the acquisition date, as well as measurement period adjustments made since the acquisition in 2019 through the close of measurement period:


(in millions)	Amounts Recognized as of the Acquisition Date		Measurement Period Adjustments (1)		Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration	$	1,834.9	$	—	1,834.9

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	147.0		—		147.0
Inventories	103.9		(4.4)		99.5
Prepaid and other current assets	21.5		(9.3)		12.2
Intangibles	717.1		8.4		725.5
Other long-term assets	1.3		4.3		5.6
Properties, plants and equipment	521.3		(17.6)		503.7
Total assets acquired	1,512.1		(18.6)		1,493.5

Accounts payable	(99.5)		—		(99.5)
Accrued payroll and employee benefits	(42.9)		(7.2)		(50.1)
Other current liabilities	(21.8)		4.5		(17.3)
Long-term deferred tax liability	(185.7)		37.4		(148.3)
Pension and post-retirement obligations	(67.1)		—		(67.1)
Other long-term liabilities	(12.7)		(7.5)		(20.2)
Total liabilities assumed	(429.7)		27.2		(402.5)
Total identifiable net assets	$	1,082.4	$	8.6	$	1,091.0
Goodwill	$	752.5	$	(8.6)	$	743.9

(1) The measurement adjustments were primarily due to refinement to third party appraisals and carrying amounts of certain assets and liabilities, as well as adjustments to certain tax accounts based on, among other things, adjustments to deferred tax liabilities. The net impact of the measurement period adjustments resulted in a net $8.6 million decrease to Goodwill. The measurement adjustments recorded in 2020 did not have a significant impact on the Company's consolidated statements of income for the year ended October 31, 2020.

The Company recognized goodwill related to this acquisition of $743.9 million. The goodwill recognized in this acquisition is attributable to the acquired assembled workforce, expected synergies, and economies of scale, none of which qualify for recognition as a separate intangible asset. Caraustar is reported within the Paper Packaging & Services segment to which the goodwill was assigned. The goodwill is not expected to be deductible for tax purposes.

The cost approach was used to determine the fair value for buildings, improvements and equipment, and the market approach was used to determine the fair value for land. The cost approach measures the value by estimating the cost to acquire, or construct, comparable assets and adjusts for age and condition. The Company assigned buildings and improvements a useful life ranging from 1 year to 20 years and equipment a useful life ranging from 1 year to 15 years. Acquired property, plant and equipment will be depreciated over its estimated remaining useful lives on a straight-line basis.

The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair value of the trade name intangible assets were determined utilizing the relief from royalty method which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trade names and discounted to present value using an appropriate discount rate.

Acquired intangible assets will be amortized over the estimated useful lives, primarily on a straight-line basis. The following table summarizes the current preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired:


(in millions)	Current Preliminary Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	708.0	15.0
Trademarks	15.0		3.0
Other	2.5		4.6
Total intangible assets	$	725.5

As of April 30, 2020, the Company had completed the determination of the fair value of assets acquired and liabilities assumed related to the Caraustar Acquisition.

Divestitures

For the year ended October 31, 2020, the Company completed its divestiture of a U.S. business in the Paper Packaging & Services segment, the Consumer Packaging Group ("CPG") business, for $85.0 million before final adjustments of $5.4 million, for final net cash proceeds of $79.6 million, of which $35.6 million of goodwill was allocated to the sold business. This divestiture did not qualify as discontinued operations as it did not represent a strategic shift that has had a major impact on the Company's operations or financial results.

Goodwill and Other Intangible Assets

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the changes in the carrying amount of goodwill by segment for the years ended October 31, 2020 and 2019:


(in millions)	Rigid Industrial Packaging & Services (1)		Paper Packaging & Services		Total
Balance at October 31, 2018	$	716.5	$	59.5	$	776.0
Goodwill acquired	22.3		726.6		748.9
Goodwill allocated to divestitures and businesses held for sale			—		—
Goodwill adjustments	—		—		—

Currency translation	(7.1)		—		(7.1)
Balance at October 31, 2019	$	731.7	$	786.1	$	1,517.8
Goodwill acquired	—		—		—
Goodwill allocated to divestitures and businesses held for sale	(0.7)		(35.6)		(36.3)
Goodwill adjustments related to acquisitions	1.1		17.4		18.5

Currency translation	18.4		—		18.4
Balance at October 31, 2020	$	750.5	$	767.9	$	1,518.4

(1)Accumulated goodwill impairment loss was $63.3 million as of October 31, 2020, 2019 and 2018. Included in the accumulated goodwill impairment loss was $13.0 million related to the Rigid Industrial Packaging & Services segment and $50.3 million related to the Flexible Products & Services segment.

The $36.3 million in adjustments related to divestitures and businesses held for sale was mainly composed of $35.6 million for the CPG divestiture in the Paper Packaging & Services segment. The $18.5 million in adjustments related to acquisitions was mainly composed of $2.8 million for measurement period adjustments and the $14.6 million revision in the opening balance sheet deferred tax liability related to the Caraustar Acquisition in the Paper Packaging & Services segment. See Note 2 herein for additional disclosure of goodwill allocated to acquisitions and divestitures.

The Company reviews goodwill by reporting unit and indefinite-lived intangible assets for impairment as required by ASC 350, “Intangibles – Goodwill and Other,” either annually August 1, or whenever events and circumstances indicate impairment may have occurred. A reporting unit is the operating segment, or a business unit one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. The components are aggregated into reporting units for purposes of goodwill impairment testing to the extent they share similar qualitative and quantitative characteristics.

The Company performed its annual goodwill impairment test as of August 1, 2020. The fair value of the Company's goodwill reporting units exceeded the carrying value, resulting in no impairment. Discount rates, revenue growth rates and cash flow projections are the assumptions that are most sensitive and susceptible to change as they require significant management judgment. In addition, certain future events and circumstances, including deterioration of market conditions, higher cost of capital, a decline in actual and expected consumption and demand, could result in changes to these assumptions and judgments. A revision of these assumptions could cause the fair value of the reporting unit to fall below its respective carrying value. As for all of the Company's reporting units, if in future years, the reporting unit's actual results are not consistent with the Company's estimates and assumptions used to calculate fair value, the Company may be required to recognize material impairments to goodwill.

The following table summarizes the carrying amount of net intangible assets by class as of October 31, 2020 and 2019:


(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
October 31, 2020:
Indefinite lived:
Trademarks and patents	$	13.5	$	—	$	13.5
Definite lived:
Customer relationships	$	891.8	$	204.9	$	686.9
Trademarks and patents	27.4		14.9		12.5
Non-compete agreements	1.7		1.2		0.5
Other	20.9		19.0		1.9
Total	$	955.3	$	240.0	$	715.3

October 31, 2019:
Indefinite lived:
Trademarks and patents	$	13.1	$	—	$	13.1
Definite lived:
Customer relationships	$	890.6	$	150.3	$	740.3
Trademarks and patents	27.0		9.3		17.7
Non-compete agreements	2.3		0.7		1.6
Other	21.9		18.1		3.8
Total	$	954.9	$	178.4	$	776.5

Gross intangible assets increased by $0.4 million for the year ended October 31, 2020. The increase was attributable to $5.9 million from immaterial asset acquisitions and $5.3 million of currency fluctuations, offset by $0.9 million of impairment and the write-off of $9.9 million fully-amortized assets.

Amortization expense was $69.1 million, $53.2 million and $15.2 million for the years ended October 31, 2020, 2019 and 2018, respectively. Amortization expense for the next five years is expected to be $67.2 million in 2021, $59.1 million in 2022, $56.6 million in 2023, $53.3 million in 2024 and $50.8 million in 2025.

Definite lived intangible assets for the periods presented are subject to amortization and are being amortized using the straight-line method over periods that are contractually or legally determined, or over the period a market participant would benefit from the asset. Indefinite lived intangibles of approximately $13.5 million as of October 31, 2020, related primarily to the Tri-Sure trademark and trade names related to Closures, Blagden Express, Closed-loop, Box Board and Pachmas, are not amortized, but rather are tested for impairment at least annually

Restructuring Charges

12 Months Ended

Oct. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring Charges

RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the years ended October 31, 2020 and 2019:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at October 31, 2018	$	4.2	$	0.2	$	4.4
Costs incurred and charged to expense	22.5		3.6		26.1
Costs paid or otherwise settled	(17.2)		(2.0)		(19.2)
Balance at October 31, 2019	$	9.5	$	1.8	$	11.3
Costs incurred and charged to expense	26.4		12.3		38.7
Costs paid or otherwise settled	(18.0)		(10.4)		(28.4)
Balance at October 31, 2020	$	17.9	$	3.7	$	21.6

The focus for restructuring activities in 2020 was to optimize and integrate operations in the Paper Packaging & Services segment related to the Caraustar Acquisition and continue to rationalize operations and close underperforming assets in the Rigid Industrial Packaging & Services and the Flexible Products & Services segments. During the year ended October 31, 2020, the Company recorded restructuring charges of $38.7 million, as compared to $26.1 million of restructuring charges recorded during the year ended October 31, 2019. The restructuring activity for the year ended October 31, 2020 consisted of $26.4 million in employee separation costs and $12.3 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. There were sixteen plants closed in 2020, and a total of 658 employees severed throughout 2020 as part of the Company’s restructuring efforts.

The focus for restructuring activities in 2019 was to optimize and integrate operations in the Paper Packaging & Services segment related to the Caraustar Acquisition and continue to rationalize operations and close underperforming assets in the Rigid Industrial Packaging & Services and the Flexible Products & Services segments. During 2019, the Company recorded restructuring charges of $26.1 million, consisting of $22.5 million in employee separation costs and $3.6 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. There were twelve plants closed and a total of 430 employees severed throughout 2019 as part of the Company’s restructuring efforts.

The focus for restructuring activities in 2018 was to rationalize and close underperforming assets in the Rigid Industrial Packaging & Services and Flexible Products & Services segments. During 2018, the Company recorded restructuring charges of $18.6 million, consisting of $14.8 million in employee separation costs and $3.8 million in other restructuring costs, primarily consisting of professional fees incurred for services specifically associated with employee separation and relocation. There were five plants closed and a total of 322 employees severed throughout 2018 as part of the Company’s restructuring efforts.

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the filing date of this Form 10-K. Remaining amounts expected to be incurred were $22.8 million as of October 31, 2020:


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the year ended October 31, 2020		Amounts Remaining to be Incurred
Rigid Industrial Packaging & Services:
Employee separation costs	$	31.6	$	21.0	10.6
Other restructuring costs	10.9		5.3		5.6
	42.5		26.3		16.2
Flexible Products & Services:
Employee separation costs	1.9		0.9		1.0
Other restructuring costs	2.4		1.9		0.5
	4.3		2.8		1.5
Paper Packaging & Services:
Employee separation costs	4.5		4.5		—
Other restructuring costs	10.2		5.1		5.1
	14.7		9.6		5.1




Total	$	61.5	$	38.7	$	22.8

Consolidation of Variable Interest Entities

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidation of Variable Interest Entities

CONSOLIDATION OF VARIABLE INTEREST ENTITIES

The Company evaluates whether an entity is a VIE whenever reconsideration events occur and performs reassessments of all VIEs quarterly to determine if the primary beneficiary status is appropriate. The Company consolidates VIEs for which it is the primary beneficiary. If the Company is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity or cost methods of accounting, as appropriate. When assessing the determination of the primary beneficiary, the Company considers all relevant facts and circumstances, including: the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE.

Significant Nonstrategic Timberland Transactions

On March 28, 2005, Soterra LLC (a wholly owned subsidiary) entered into two real estate purchase and sale agreements with Plum Creek Timberlands, L.P. (“Plum Creek”) to sell approximately 56,000 acres of timberland and related assets located primarily in Florida for an aggregate sales price of approximately $90.0 million, subject to closing adjustments. In connection with the closing of one of these agreements, Soterra LLC sold approximately 35,000 acres of timberland and associated assets in Florida, Georgia and Alabama for $51.0 million, resulting in a pretax gain of $42.1 million, on May 23, 2005. The purchase price was paid in the form of cash and a $50.9 million purchase note payable (the “Purchase Note”) by an indirect subsidiary of Plum Creek (the “Buyer SPE”). Soterra LLC contributed the Purchase Note to STA Timber LLC (“STA Timber”), one of the Company’s indirect wholly owned subsidiaries. The Purchase Note is secured by a Deed of Guarantee issued by Bank of America, N.A., London Branch, in an amount not to exceed $52.3 million (the “Deed of Guarantee”), as a guarantee of the due and punctual payment of principal and interest on the Purchase Note.

The Company completed the second and final phase of these transactions in the first and second quarters of 2006, respectively, with the sale of 15,300 acres and another approximately 5,700 acres.

On May 31, 2005, STA Timber issued in a private placement its 5.20% Senior Secured Notes due August 5, 2020 (the “Monetization Notes”) in the principal amount of $43.3 million. In connection with the sale of the Monetization Notes, STA Timber entered into note purchase agreements with the purchasers of the Monetization Notes (the “Note Purchase Agreements”) and related documentation. The Monetization Notes are secured by a pledge of the Purchase Note and the Deed of Guarantee. The Monetization Notes may be accelerated in the event of a default in payment or a breach of the other obligations set forth therein or in the Note Purchase Agreements or related documents, subject in certain cases to any applicable cure periods, or upon the occurrence of certain insolvency or bankruptcy related events. The proceeds from the sale of the Monetization Notes were primarily used for the repayment of indebtedness. Greif, Inc. and its other subsidiaries have not extended any form of guaranty of the principal or interest on the Monetization Notes. Accordingly, Greif, Inc. and its other subsidiaries will not become directly or contingently liable for the payment of the Monetization Notes at any time.

The Buyer SPE is deemed to be a VIE since the assets of the Buyer SPE are not available to satisfy the liabilities of the Buyer SPE. The Buyer SPE is a separate and distinct legal entity from the Company and no ownership interest in the Buyer SPE is held by the Company, but the Company is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. As a result, Buyer SPE has been consolidated into the operations of the Company.

As of October 31, 2020 and 2019, assets of the Buyer SPE consisted of $50.9 million of restricted bank financial instruments which are expected to be held to maturity, scheduled for November 5, 2020. The balance as of October 31, 2020 is presented in Assets held by special purpose entities' on the consolidated balance sheets. For each of the years ended October 31, 2020, 2019 and 2018, the Buyer SPE recorded interest income of $2.4 million.

As of October 31, 2020 and 2019, STA Timber had consolidated liabilities of $43.3 million, and the maturity date of the consolidated liabilities is November 5, 2020. The balance as of October 31, 2020 is presented in 'Liabilities held by special purpose entities' on the consolidated balance sheets. For each of the years ended October 31, 2020, 2019 and 2018, STA Timber recorded interest expense of $2.2 million. The intercompany borrowing arrangement between the two VIEs is eliminated in consolidation. STA Timber is exposed to credit-related losses in the event of nonperformance by the issuer of the Deed of Guarantee.

Subsequent to October 31, 2020, and prior to the filing of this Form 10-K, the Purchase Note and the Monetization Notes matured and were settled.

Flexible Packaging Joint Venture

On September 29, 2010, Greif, Inc. and one of its indirect subsidiaries formed a joint venture (referred to herein as the “Flexible Packaging JV” or "FPS VIE") with Dabbagh Group Holding Company Limited and one of its subsidiaries, originally National Scientific Company Limited and now Gulf Refined Packaging for Industrial Packaging Company LTD ("GRP"). The Flexible Packaging JV owns the operations in the Flexible Products & Services segment. The Flexible Packaging JV has been consolidated into the operations of the Company since its formation date of September 29, 2010.

The Flexible Packaging JV is deemed to be a VIE since the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support. The major factors that led to the conclusion that the Company was the primary beneficiary of this VIE was that (1) the Company has the power to direct the most significant activities due to its ability to direct the operating decisions of the FPS VIE, which power is derived from the significant CEO discretion over the operations of the FPS VIE combined with the Company's sole and exclusive right to appoint the CEO of the FPS VIE, and (2) the significant variable interest through the Company's equity interest in the FPS VIE.

The economic and business purpose underlying the Flexible Packaging JV is to establish a global industrial flexible products enterprise through a series of targeted acquisitions and major investments in plant, machinery and equipment. All entities contributed to the Flexible Packaging JV were existing businesses acquired by an indirect subsidiary of the Company and that were reorganized under Greif Flexibles Asset Holding B.V. and Greif Flexibles Trading Holding B.V. (“Asset Co.” and “Trading Co.”), respectively. The Company has 51 percent ownership in Trading Co. and 49 percent ownership in Asset Co. However, the Company and GRP have equal economic interests in the Flexible Packaging JV, notwithstanding the actual ownership interests in the various legal entities.

All investments, loans and capital contributions are to be shared equally by the Company and GRP and each partner has committed to contribute capital of up to $150.0 million and obtain third party financing for up to $150.0 million as required.

The following table presents the Flexible Packaging JV total net assets:


(in millions)	October 31, 2020		October 31, 2019
Cash and cash equivalents	$	19.0	$	16.9
Trade accounts receivable, less allowance of $0.7 in 2020 and $0.7 in 2019	47.5		51.2
Inventories	36.0		46.4
Properties, plants and equipment, net	22.8		22.3
Other assets	20.3		29.3
Total assets	$	145.6	$	166.1

Accounts payable	$	29.4	$	28.9
Other liabilities	22.8		23.6
Total liabilities	$	52.2	$	52.5

Net income attributable to the noncontrolling interest in the Flexible Packaging JV for the years ended October 31, 2020, 2019 and 2018 were $6.4 million, $12.4 million and $9.9 million, respectively.

Paper Packaging Joint Venture

On April 20, 2018, Greif, Inc. and one of its indirect subsidiaries formed a joint venture (referred to herein as the “Paper Packaging JV” or "PPS VIE") with a third party. The Paper Packaging JV has been consolidated into the operations of the Company since its formation date of April 20, 2018.

The Paper Packaging JV is deemed to be a VIE as the equity investors at risk, as a group, lack the characteristics of a controlling financial interest. The structure of the Paper Packaging JV has governing provisions that are the functional equivalent of a limited partnership whereby the Company is the managing member that makes all the decisions related to the activities that most significantly affect the economic performance of the PPS VIE. In addition, the third party does not have any substantive kick-out rights or substantive participating rights in the Paper Packaging JV. The major factors that led to the conclusion that the Paper Packaging JV is a VIE was that all limited partnerships are considered to be VIE’s unless the limited partners have substantive kick-out rights or substantive participating rights.

The following table presents the Paper Packaging JV total net assets:


(in millions)	October 31, 2020

Trade accounts receivable, less allowance of $0.0 in 2020	5.5
Inventories	6.3
Properties, plants and equipment, net	34.3
Other assets	0.6
Total assets	$	46.7

Accounts payable	5.2
Other liabilities	1.3
Total liabilities	$	6.5

As of October 31, 2019, the Paper Packaging JV’s net assets consist mainly of properties, plants, and equipment, net of $29.4 million.

There was $1.8 million net loss for the year ended October 31, 2020. There was $0.1 million net loss for the year ended October 31, 2019.

Non-United States Accounts Receivable VIE

As further described in Note 6 of the Notes to Consolidated Financial Statements, Cooperage Receivables Finance B.V. is a party to the European RFA, as defined in Note 6 of the Notes to Consolidated Financial Statements. Cooperage Receivables Finance B.V. is deemed to be a VIE since this entity is not able to satisfy its liabilities without the financial support from the

Company. While this entity is a separate and distinct legal entity from the Company and no ownership interest in this entity is held by the Company, the Company is the primary beneficiary because it has (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE. As a result, Cooperage Receivables Finance B.V. has been consolidated into the operations of the Company.

Long-Term Debt

12 Months Ended

Oct. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

Long-term debt is summarized as follows:


(in millions)	October 31, 2020		October 31, 2019
2019 Credit Agreement - Term Loans	$	1,429.8	$	1,612.2
Senior Notes due 2027	495.1		494.3
Senior Notes due 2021	234.8		221.7
Accounts receivable credit facilities	310.0		351.6
2019 Credit Agreement - Revolving Credit Facility	—		76.1
Other debt	—		0.4
	2,469.7		2,756.3
Less current portion	123.1		83.7
Less deferred financing costs	11.1		13.6
Long-term debt, net	$	2,335.5	$	2,659.0

2019 Credit Agreement

On February 11, 2019, the Company and certain of its subsidiaries entered into an amended and restated senior secured credit agreement (the “2019 Credit Agreement”) with a syndicate of financial institutions. The Company's obligations under the 2019 Credit Agreement are guaranteed by certain of its U.S. and non-U.S. subsidiaries.

The 2019 Credit Agreement provides for (a) an $800.0 million secured revolving credit facility, consisting of a $600.0 million multicurrency facility and a $200.0 million U.S. dollar facility, maturing on February 11, 2024, (b) a $1,275.0 million secured term A-1 loan with quarterly principal installments commencing on April 30, 2019 and continuing through maturity on January 31, 2024, and (c) a $400.0 million secured term A-2 loan with quarterly principal installments commencing on April 30, 2019 and continuing through maturity on January 31, 2026. In addition, the Company has an option to add an aggregate of $700.0 million to the secured revolving credit facility under the 2019 Credit Agreement with the agreement of the lenders. The revolving credit facility is available to fund ongoing working capital and capital expenditure needs, for general corporate purposes, and to finance acquisitions.

On November 13, 2020 the Company and certain of its U.S. subsidiaries entered into an incremental term loan agreement (the "Incremental Term A-3 Loan Agreement") with a syndicate of farm credit institutions. The Incremental Term A-3 Loan Facility provides for a loan commitment in the aggregate principal amount of $225.0 million that must be funded in a single draw on a business day occurring on or before July 15, 2021 (the "Incremental Term A-3 Loan"). The Incremental Term A-3 Loan matures on July 15, 2026, with quarterly installments of principal payable on the last day of each fiscal quarter commencing with the first such date to occur after the funding date. The Incremental Term A-3 Loan has, for all material purposes, the identical terms and provisions as the term A-1 and the term A-2 loans under the 2019 Credit Agreement, discussed above. The Company's obligations with respect to the Incremental Term A-3 Loan will constitute obligations under the 2019 Credit Agreement and will be secured and guaranteed with the other obligations as provided in the under the 2019 Credit Facility on a pari passu basis. The Company intends to draw upon the Incremental Term A-3 Loan prior to July 15, 2021, and use the loan proceeds to pay all of the outstanding principal of and interest on the Senior Notes due 2021, discussed below.

The 2019 Credit Agreement contains certain covenants, which include financial covenants that require the Company to maintain a certain leverage ratio and an interest coverage ratio. The leverage ratio generally requires that, at the end of any quarter, the Company will not permit the ratio of (a) its total consolidated indebtedness, to (b) its consolidated net income plus depreciation, depletion and amortization, interest expense (including capitalized interest), income taxes, and minus certain extraordinary gains and non-recurring gains (or plus certain extraordinary losses and non-recurring losses) and plus or minus certain other items for the preceding twelve months (as used in this paragraph only, “EBITDA”) to be greater than 4.75 to 1.00 and stepping down annually by 0.25 increments beginning on July 31, 2020 to 4.00 on July 31, 2023. The current leverage ratio

covenant requirement was 4.50 as of October 31, 2020. The interest coverage ratio generally requires that, at the end of any quarter, the Company will not permit the ratio of (a) its consolidated EBITDA, to (b) its consolidated interest expense to the extent paid or payable, to be less than 3.00 to 1.00, during the applicable preceding twelve month period. As of October 31, 2020, the Company was in compliance with the covenants and other agreements in the 2019 Credit Agreement.

As of October 31, 2020, $1,429.8 million was outstanding under the 2019 Credit Agreement. The current portion of such outstanding amount was $123.1 million, and the long-term portion was $1,306.7 million. The weighted average interest rate for borrowings under the 2019 Credit Agreement was 2.68% for the year ended October 31, 2020. The actual interest rate for borrowings under the 2019 Credit Agreement was 1.96% as of October 31, 2020. The deferred financing costs associated with the term loan portion of the 2019 Credit Agreement totaled $8.5 million as of October 31, 2020 and are recorded as a direct deduction from the balance sheet line Long-Term Debt. The deferred financing costs associated with the revolver portion of the 2019 Credit Agreement totaled $6.1 million as of October 31, 2020 and are recorded within Other Long-Term Assets.

Senior Notes due 2027

On February 11, 2019, the Company issued $500.0 million of 6.50% Senior Notes due March 1, 2027 (the "Senior Notes due 2027"). Interest on the Senior Notes due 2027 is payable semi-annually commencing on September 1, 2019. The Company's obligations under the Senior Notes due 2027 are guaranteed by its U.S. subsidiaries that guarantee the 2019 Credit Agreement, as described above. The Company used the net proceeds from the issuance of the Senior Notes due 2027, together with borrowings under the 2019 Credit Agreement, to fund the purchase price of the Caraustar Acquisition, to redeem all of the Senior Notes due 2019, to repay outstanding borrowings under the Company's then existing credit agreement, and to pay related fees and expenses. The deferred financing cost associated with the Senior Notes due 2027 totaled $2.3 million as of October 31, 2020 and are recorded as a direct deduction from the balance sheet line Long-Term Debt.

Senior Notes due 2021

On July 15, 2011, Greif, Inc.’s wholly-owned subsidiary, Greif Nevada Holdings, Inc., S.C.S. issued €200.0 million of 7.375% Senior Notes due July 15, 2021 (the "Senior Notes due 2021" and together with the Senior Notes due 2027, the "Senior Notes"). The Senior Notes due 2021 are guaranteed on a senior basis by Greif, Inc. Interest on the Senior Notes due 2021 is payable semiannually. As discussed above, the Company intends to draw upon the Incremental Term A-3 Loan prior to July 15, 2021, and to use the loan proceeds to pay all of the outstanding principal of and interest on Senior Notes due 2021.

United States Trade Accounts Receivable Credit Facility

On September 24, 2019, certain U.S. subsidiaries of Greif, Inc. (the “Company”) amended and restated the existing receivables financing facility (the “U.S. Receivables Facility”). Greif Receivables Funding LLC (“Greif Funding”), Greif Packaging LLC (“Greif Packaging”), for itself and as servicer, and certain other U.S. subsidiaries of the Company entered into a Third Amended and Restated Transfer and Administration Agreement, dated as of September 24, 2019 (the “Third Amended TAA”), with Bank of America, N.A. (“BANA”), as the agent, managing agent, administrator and committed investor, and various investor groups, managing agents, and administrators, from time to time parties thereto. The Third Amended TAA provided for a $275.0 million U.S. Receivables Facility. On September 24, 2020, the Third Amended TAA was amended to reduce the U.S. Receivables Facility to $250.0 million. The financing costs associated with the U.S. Receivables Facility were $0.2 million as of October 31, 2020, and are recorded as a direct deduction from the balance sheet line Long-Term Debt.

Greif Funding is a direct subsidiary of Greif Packaging and is included in the Company’s consolidated financial statements. However, because Greif Funding is a separate and distinct legal entity from the Company, the assets of Greif Funding are not available to satisfy the liabilities and obligations of the Company, Greif Packaging or other subsidiaries of the Company, and the liabilities of Greif Funding are not the liabilities or obligations of the Company or its other subsidiaries.

The Third Amended TAA provides for the ongoing purchase by BANA of receivables from Greif Funding, which Greif Funding will have purchased from Greif Packaging and certain other U.S. subsidiaries of the Company as the originators under the Third Amended and Restated Sale Agreement, dated as of September 24, 2019 (the “Third Amended Sale Agreement”). Greif Packaging will service and collect on behalf of Greif Funding those receivables sold to Greif Funding under the Third Amended Sale Agreement. The commitment termination date of the U.S. Receivables Facility is September 24, 2021, subject to earlier termination as provided in the Third Amended TAA (including acceleration upon an event of default as provided therein), or such later date to which the purchase commitment may be extended by agreement of the parties. In addition, Greif Funding may terminate the U.S. Receivables Facility at any time upon five days’ prior written notice. The Company has guaranteed the performance by Greif Funding, Greif Packaging and its other participating subsidiaries of their respective obligations under the Third Amended TAA, the Fourth Amended Sale Agreement and related agreements thereto, but has not guaranteed the collectability of the receivables thereunder. A significant portion of the proceeds from the U.S. Receivables Facility was used to pay the obligations under the Third Amended TAA. The remaining proceeds were used to pay certain fees, costs and expenses incurred in connection with the U.S. Receivables Facility and to repay borrowings on our Revolving Credit Facility.

The U.S. Receivables Facility is secured by certain trade accounts receivables related to the Rigid Industrial Packaging & Services and the Paper Packaging & Services businesses of Greif Packaging and other subsidiaries of the Company in the United States and bears interest at a variable rate based on the London InterBank Offered Rate or an applicable base rate, plus a margin, or a commercial paper rate, all as provided in the Third Amended TAA. Interest is payable on a monthly basis and the principal balance is payable upon termination of the U.S. Receivables Facility. The $232.8 million outstanding balance under the U.S. Receivables Facility as of October 31, 2020 is reported in the balance sheet line Long-Term Debt in the condensed consolidated balance sheets because the Company intends to refinance this obligation on a long-term basis and has the intent and ability to consummate a long-term refinancing.

International Trade Accounts Receivable Credit Facilities

On April 17, 2020, Cooperage Receivables Finance B.V. and Greif Coordination Center BVBA, an indirect wholly owned subsidiary of Greif, Inc., amended and restated the Nieuw Amsterdam Receivables Financing Agreement (the "European RFA" and together with the U.S. Receivables Facility, the "Accounts Receivables Facility") with affiliates of a major international bank. The amended and restated European RFA will mature April 17, 2021. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($117.5 million as of October 31, 2020) secured by certain European accounts receivable. The $77.2 million outstanding on the European RFA as of October 31, 2020 is reported in the balance sheet line Long-Term Debt on the consolidated balance sheets because the Company intends to refinance these obligations on a long-term basis and has the intent and ability to consummate a long-term refinancing by exercising the renewal option in the respective agreement or entering into new financing arrangements.

Other

In addition to the amounts borrowed under the 2019 Credit Agreement and proceeds from the Senior Notes and the Accounts Receivables Facilities, as of October 31, 2020, the Company had outstanding other debt of $28.4 million in short-term borrowings, compared to outstanding other debt of $9.2 million in short-term borrowings, as of October 31, 2019. There are no financial covenants associated with this other debt.

As of October 31, 2020, annual scheduled payments and maturities, including the current portion of long-term debt, were $667.9 million in 2021, $138.0 million in 2022, $138.0 million in 2023, $764.1 million in 2024, $18.7 million in 2025 and $747.7 million thereafter.

Financial Instruments and Fair Value Measurements

12 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Financial Instruments and Fair Value Measurements

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Recurring Fair Value Measurements

The following table presents the fair value of those assets and (liabilities) measured on a recurring basis as of October 31, 2020 and 2019:


	October 31, 2020
	Fair Value Measurement								Balance Sheet Location
(in millions)	Level 1		Level 2		Level 3		Total

Interest rate derivatives	$	—	$	(37.9)	$	—	$	(37.9)	Other current liabilities and other long-term liabilities
Foreign exchange hedges	—		1.5		—		1.5		Other current assets
Foreign exchange hedges	—		(1.6)		—		(1.6)		Other current liabilities
Insurance annuity	—		—		21.4		21.4		Other long-term assets
Cross currency swap	—		8.9		—		8.9		Other current assets and other long-term assets
Total	$	—	$	(29.1)	$	21.4	$	(7.7)

	October 31, 2019
	Fair Value Measurement								Balance Sheet Location
(in millions)	Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	1.3	$	—	$	1.3	Other long-term assets and other current assets
Interest rate derivatives	—		(25.0)		—		(25.0)		Other long-term liabilities and other current liabilities
Foreign exchange hedges	—		0.9		—		0.9		Other current assets
Foreign exchange hedges	—		(0.2)		—		(0.2)		Other current liabilities
Insurance annuity	—		—		20.0		20.0		Other long-term assets
Cross currency swap	—		10.6		—		10.6		Other long-term assets and other current assets
Total	$	—	$	(12.4)	$	20.0	$	7.6

The carrying amounts of cash and cash equivalents, trade accounts receivable, notes receivable, accounts payable, current liabilities and short-term borrowings as of October 31, 2020 and 2019 approximate their fair values because of the short-term nature of these items and are not included in this table.

Interest Rate Derivatives

The Company has various borrowing facilities which charge interest based on the one-month U.S. dollar LIBOR rate plus a spread.

In 2020, the Company entered into four forward starting interest rate swaps with a total notional amount of $200.0 million effective July 15, 2021. The Company receives variable rate interest payments based upon one-month U.S. dollar LIBOR, and in return the Company is obligated to pay interest at a weighted-average interest rate of 0.90% plus a spread. This effectively converted the borrowing rate on an amount of debt equal to the outstanding notional amount of the interest rate swap from a variable rate to a fixed rate.

In 2019, the Company entered into six interest rate swaps with a total notional amount of $1,300.0 million that amortize to $200.0 million over a five-year term. The outstanding notional as of October 31, 2020 is $600.0 million. The Company receives variable rate interest payments based upon one-month U.S. dollar LIBOR, and in return the Company is obligated to pay interest at a weighted-average interest rate of 2.49% plus a spread. This effectively converted the borrowing rate on an amount of debt equal to the outstanding notional amount of the interest rate swap from a variable rate to a fixed rate.

In 2017, the Company entered into an interest swap with a notional amount of $300.0 million. As of February 1, 2017, the Company began to receive variable rate interest payments based upon one-month U.S. dollar LIBOR and in return was obligated to pay interest at a fixed rate of 1.19% plus a spread. This effectively converted the borrowing rate on $300.0 million of debt from a variable rate to a fixed rate.

These derivatives are designated as cash flow hedges for accounting purposes. Accordingly, the gain or loss on these derivative instruments are reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. See Note 16 herein for additional disclosures of the gain or loss included within other comprehensive income. The assumptions

used in measuring fair value of these interest rate derivatives are considered level 2 inputs, which are based upon observable market rates, including LIBOR and interest paid based upon a designated fixed rate over the life of the swap agreements.

Gains (losses) reclassified to earnings under these contracts were $(16.5) million, $3.0 million and $1.8 million for the year ended October 31, 2020, 2019 and 2018. A derivative loss of $17.7 million, based upon interest rates at October 31, 2020, is expected to be reclassified from accumulated other comprehensive income (loss) to earnings in the next twelve months.

Foreign Exchange Hedges

The Company conducts business in various international currencies and is subject to risks associated with changing foreign exchange rates. The Company’s objective is to reduce volatility associated with foreign exchange rate changes. Accordingly, the Company enters into various contracts that change in value as foreign exchange rates change to protect the value of certain existing foreign currency assets and liabilities, commitments and anticipated foreign currency cash flows. As of October 31, 2020, the Company had outstanding foreign currency forward contracts in the notional amount of $268.6 million ($275.0 million as of October 31, 2019). Adjustments to fair value are recognized in earnings, offsetting the impact of the hedged profits. The assumptions used in measuring fair value of foreign exchange hedges are considered level 2 inputs, which were based on observable market pricing for similar instruments, principally foreign exchange futures contracts.

Realized gains (losses) recorded in other expense, net under fair value contracts were $(3.2) million, $4.6 million and $(9.2) million for the years ended October 31, 2020, 2019 and 2018, respectively. The Company recognized in other expense, net an unrealized net gain (loss) of $(0.1) million, $0.7 million and $1.9 million in the years ended October 31, 2020, 2019 and 2018, respectively.

Cross Currency Swap

On March 6, 2018, the Company entered into a cross currency interest rate swap agreement that synthetically swaps $100.0 million of fixed rate debt to Euro denominated fixed rate debt at a rate of 2.35%. The agreement is designated as a net investment hedge for accounting purposes and will mature on March 6, 2023. Accordingly, the gain or loss on this derivative instrument is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted, or liquidated. Interest payments received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the consolidated statements of income. For the year ended October 31, 2020, 2019 and 2018, gains recorded in interest expense, net under the cross currency swap agreement were $2.4 million, $2.4 million and $1.6 million, respectively. See Note 16 herein for additional disclosure of the gain or loss included within other comprehensive income. The assumptions used in measuring fair value of the cross currency swap are considered level 2 inputs, which are based upon the Euro to United States dollar exchange rate market.

Other Financial Instruments

The fair values of the Company’s 2019 Credit Agreement and the Accounts Receivables Facilities do not materially differ from carrying value as the Company’s cost of borrowing is variable and approximates current borrowing rates. The fair values of the Company’s long-term obligations are estimated based on either the quoted market prices for the same or similar issues or the current interest rates offered for the debt of the same remaining maturities, which are considered level 2 inputs in accordance with ASC Topic 820, “Fair Value Measurements and Disclosures.”

The following table presents the estimated fair values for the Company’s Senior Notes and Assets held by special purpose entities:


(in millions)	October 31, 2020	October 31, 2019
Senior Notes due 2021 estimated fair value	242.0	248.1
Senior Notes due 2027 estimated fair value	524.4	537.9
Assets held by special purpose entities estimated fair value	50.9	51.9

Pension Plan Assets

On an annual basis the Company compares the asset holdings of its pension plan to targets it previously established. The pension plan assets are categorized as equity securities, debt securities, fixed income securities, insurance annuities or other assets, which are considered level 1, level 2 and level 3 fair value measurements. The typical asset holdings include:

•Common stock: Valued based on quoted prices and are primarily exchange-traded.

•Mutual funds: Valued at the Net Asset Value (“NAV”) available daily in an observable market.

•Common collective trusts: Unit value calculated based on the observable NAV of the underlying investment.

•Pooled separate accounts: Unit value calculated based on the observable NAV of the underlying investment.

•Government and corporate debt securities: Valued based on readily available inputs such as yield or price of bonds of comparable quality, coupon, maturity and type.

•Insurance annuity: Value is derived based on the value of the corresponding liability.

Non-Recurring Fair Value Measurements

The Company recognized asset impairment charges of $18.5 million and $7.8 million for the years ended October 31, 2020 and 2019.

The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of long-lived assets held and used and net assets held for sale for the twelve months ended October 31, 2020 and 2019:

Quantitative Information about Level 3 Fair Value Measurements

(in millions)

Fair Value of
Impairment

Valuation
Technique

Unobservable
Input

Range
of Input Values

October 31, 2020

Impairment of Long Lived Assets

18.5

Discounted Cash Flows, Indicative Bids

N/A

Total

18.5

October 31, 2019

Impairment of Net Assets Held for Sale

2.1

Indicative Bids

N/A

Impairment of Long Lived Assets

5.7

Sales Value

N/A

Total

7.8

Long-Lived Assets

During the year ended October 31, 2020, the Company wrote down long-lived assets with a carrying value of $36.4 million to a fair value of $17.9 million, resulting in recognized asset impairment charges of $18.5 million. These charges include $4.2 million related to properties, plants and equipment, net, in the Rigid Industrial Packaging & Services segment, $0.9 million related to definite-lived intangibles in the Rigid Industrial Packaging & Services segment, $12.5 million related to properties, plants and equipment, net, in the Paper Packaging & Services segment and $0.9 million related to properties, plants and equipment, net, in the Flexible Products & Services segment.

During the year ended October 31, 2019, the Company wrote down long-lived assets with a carrying value of $5.9 million to a fair value of $0.2 million, resulting in recognized asset impairment charges of $5.7 million. These charges include $0.6 million related to properties, plants and equipment, net, in the Rigid Industrial Packaging & Services segment, and $5.1 million related to properties, plants and equipment, net, in the Paper Packaging & Services segment.

During the year ended October 31, 2018, the Company wrote down long-lived assets with a carrying value of $10.7 million to a fair value of $3.1 million, resulting in recognized asset impairment charges of $7.6 million. The $7.6 million of impairment charges was all related to properties, plants and equipment, net, in the Rigid Industrial Packaging & Services segment.

The assumptions used in measuring fair value of long-lived assets are considered level 3 inputs, which include bids received from third parties, recent purchase offers, market comparable information and discounted cash flows based on assumptions that market participants would use.

Assets and Liabilities Held for Sale

During the year ended October 31, 2020, the Company recorded no impairment charges related to assets and liabilities held for sale.

During the year ended October 31, 2019, the Company wrote down the assets and liabilities of one asset group that was held for sale with a carrying value of $2.1 million to a fair value of zero, resulting in recognized asset impairment charges of $2.1 million.

During the year ended October 31, 2018, the Company wrote down the assets and liabilities of one asset group that was held for sale with a carrying value of $2.9 million to a fair value of $2.2 million, resulting in recognized asset impairment charges of $0.7 million for goodwill allocated to the business classified as held for sale.

The assumptions used in measuring fair value of assets and liabilities held for sale are considered level 3 inputs, which include recent purchase offers, market comparables and/or data obtained from commercial real estate brokers.

Goodwill and Indefinite-Lived Intangibles

On an annual basis or when events or circumstances indicate impairment may have occurred, the Company performs impairment tests for goodwill and indefinite-lived intangibles as defined under ASC 350, “Intangibles-Goodwill and Other.” During the year ended October 31, 2020, the Company allocated $35.6 million of goodwill to the CPG divestiture on a relative fair value basis. There was no goodwill impairment for the years ended October 31, 2020, 2019 or 2018.

Stock-Based Compensation

12 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

Stock-based compensation is accounted for in accordance with ASC 718, “Compensation – Stock Compensation,” which requires companies to estimate the fair value of share-based awards on the date of grant using an option-pricing model.

The Company's stock-based compensation plans include the Long-Term Incentive Plan, which is comprised of the 2020 Long-Term Incentive Plan (the “2020 LTIP”) and the 2006 Amended and Restated Long-Term Incentive Plan (the “2006 LTIP”); the 2005 Outside Directors Equity Award Plan (the “2005 Directors Plan”); and the 2001 Management Equity Incentive and Compensation Plan (the “2001 Plan”).

For the Company's stock-based compensation plans, no stock options were granted in 2020, 2019 or 2018 and no shares were forfeited in 2020, 2019 or 2018.

The total stock compensation expense (income) recorded under the plans were $(1.2) million, $12.7 million and $6.5 million for periods ended October 31, 2020, 2019 and 2018 respectively.

Long-Term Incentive Plan

The Long-Term Incentive Plan is intended to focus management on the key measures that drive superior performance over the longer term. The Long-Term Incentive Plan provides key employees with incentive compensation based upon consecutive and overlapping three-year performance periods that commence at the start of every year. For each three-year performance period, the performance goals are based on performance criteria as determined by the Special Subcommittee of the Compensation Committee of the Company’s Board of Directors (the “Special Subcommittee”).

For each of the three-year performance periods ending in fiscal 2019, 2020 and 2021, awards were or will be made under the 2006 LTIP, with the performance goals based on targeted levels of adjusted earnings before interest, taxes, depreciation, depletion and amortization. For each of these periods, awards are to be paid 50% in cash and 50% in restricted stock.

For the three-year performance periods ending after fiscal 2021, awards will be made under the 2020 LTIP, and participants may be granted restricted stock units (“RSUs”) or performance stock units (“PSUs”) or a combination thereof.

The Company grants RSUs based on a three-year vesting period on the basis of service only. The RSUs are an equity-classified plan measured at fair value on the grant date recognized ratably over the service period. Dividend-equivalent rights may be granted in connection with an RSU award and are recognized in conjunction with the Company's dividend issuance and settled upon vesting of the award.

The Company granted 147,325 RSUs on February 25, 2020, for the service period commencing on November 1, 2019 and ending October 31, 2022. Upon vesting, the RSUs are to be awarded in shares of Class A Common Stock. The weighted average fair value of the RSUs granted on that date was $37.42.

The Company grants PSUs for a three-year performance period based upon service, performance criteria and market conditions. The performance criteria are based on targeted levels of earnings before interest, taxes, depreciation, depletion and amortization and total shareholder return as determined by the Special Subcommittee. The PSUs are a liability-classified plan wherein the fair value of the PSUs awarded is determined at each reporting period using a Monte Carlo simulation. A Monte Carlo

simulation uses assumptions including the risk-free interest rate, expected volatility of the Company’s stock price and expected life of the awards to determine a fair value of the market condition throughout the vesting period.

The Company issued 258,519 PSUs on February 25, 2020, for the performance period commencing on November 1, 2019 and ending October 31, 2022. If earned, the PSUs are to be awarded in shares of Class A Common Stock. The weighted average fair value of the PSUs granted on that date was $35.58.

The following table summarizes the weighted average key assumptions used in estimating the value of PSUs:


			Performance Stock Units
Performance period			11/1/2019 - 10/31/2022
Valuation date stock price			$40.59
Risk-free rate			0.10% - 1.59%
Estimated volatility			46.4%

Under the 2006 LTIP, the Company granted 153,275 shares of restricted Class A Common Stock with a grant date fair value of $34.50 for 2020 and 291,520 shares of restricted Class A Common Stock with a grant date fair value of $39.83 for 2019. All restricted stock awards under the 2006 LTIP are fully vested at the date of award.

The total stock compensation expense (income) recorded under the Long-Term Incentive Plan was $(2.4) million, $11.6 million and $5.3 million for the periods ended October 31, 2020, 2019 and 2018, respectively.

2005 Directors Plan

Under the 2005 Directors Plan, the Company granted 27,768 shares of restricted Class A Common Stock with a grant date fair value of $38.89 in 2020 and 25,144 shares of restricted Class A Common Stock with a grant date fair value of $42.95 in 2019. The total expense recorded under the 2005 Directors Plan was $1.1 million, $1.1 million and $1.2 million for the periods ended October 31, 2020, 2019, and 2018, respectively. All restricted stock awards under the 2005 Directors Plan are fully vested at the date of award.

2001 Plan

During 2019, the Company awarded an officer, as part of the terms of the officer's initial employment arrangement, 9,000 shares of Class A Common Stock under the 2001 Plan. These shares were issued subject to vesting and post-vesting restrictions on the sale or transfer until November 5, 2023. These shares vest in equal installments of 3,000 on November 5, 2019, 2020 and 2021. Share-based compensation expense was $0.1 million and $0.1 million, for the period ended October 31, 2020 and 2019.

Income Taxes

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was enacted into law in response to the COVID-19 pandemic. The CARES Act contains numerous income tax provisions, such as enhanced interest deductibility, repeal of the 80% limitation with respect to net operating losses arising in taxable years 2018, 2019, and 2020, and additional depreciation deductions related to qualified improvement property. The Company has concluded the analysis of these provisions as of year-end and the CARES Act did not have a material impact on the Company’s income taxes for 2020.

In addition, on December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”) was enacted into law. The Tax Reform Act also established new tax provisions that impacted the Company beginning in fiscal year 2018, including (1) eliminating the U.S. manufacturing deduction; (2) establishing new limitations on deductible interest expense and certain executive compensation; (3) creating the base erosion anti-abuse tax (“BEAT”); (4) creating a new provision designed to tax global intangible low-tax income (“GILTI”); (5) establishing a deduction for foreign-derived intangible income (“FDII”); and (6) generally eliminating U.S. federal income taxes on dividends from foreign subsidiaries. Regarding the new GILTI tax rules, the Company is allowed to make an accounting policy election to either (i) treat taxes due on future GILTI inclusions in U.S. taxable income as a current period expense when incurred or (ii) reflect such portion of the future GILTI exclusions in U.S. taxable income that relate to existing basis differences in the Company’s measurement of deferred taxes. The Company has elected to treat taxes due to future GILTI inclusions in U.S. taxable income as a current period expense.

Effective October 31, 2018, the Tax Reform Act caused the Company to re-evaluate its indefinite reinvestment assertion related to undistributed foreign earnings. As a result, the Company concluded that the unremitted earnings and profits of certain non-U.S. subsidiaries and affiliates will no longer be indefinitely reinvested. Total deferred taxes accrued by the Company relative

to undistributed earnings was $7.0 million and $6.6 million at October 31, 2020 and 2019, respectively. The net increase in the liability was the result of accrued withholding taxes on future distributions offset by tax-deductible foreign currency losses that would be recognized on distributions of previously taxed earnings to the U.S.

The provision for income taxes consists of the following:


	Year Ended October 31,
(in millions)	2020		2019		2018
Current
Federal	$	(9.7)	$	26.6	$	74.0
State and local	3.3		6.1		8.0
Non-U.S.	53.0		35.9		36.1
	46.6		68.6		118.1
Deferred
Federal	7.9		2.1		(45.2)
State and local	10.2		0.9		0.8
Non-U.S.	(1.4)		(0.9)		(0.4)
	16.7		2.1		(44.8)
	$	63.3	$	70.7	$	73.3

The non-U.S. income before income tax expense was $160.6 million, $132.1 million and $102.3 million in 2020, 2019, and 2018, respectively. The U.S. income before income tax was $25.5 million, $129.9 million and $197.5 million in 2020, 2019, and 2018, respectively.

The following is a reconciliation of the provision for income taxes based on the federal statutory rate to the Company’s effective income tax rate:


	Year Ended October 31,
	2020		2019		2018
Federal statutory rate	21.00	%	21.00	%	23.33	%
Impact of foreign tax rate differential	0.49	%	0.10	%	(0.57)	%
State and local taxes, net of federal tax benefit	5.71	%	1.99	%	2.38	%
Net impact of changes in valuation allowances	(15.23)	%	2.41	%	5.65	%

Non-deductible write-off and impairment of goodwill and other intangible assets	4.02	%	0.29	%	0.06	%
Unrecognized tax benefits	(0.75)	%	(0.76)	%	3.41	%
Permanent book-tax differences	16.56	%	(0.87)	%	(4.03)	%
Withholding taxes	5.28	%	2.43	%	1.84	%
Tax Reform Act (1)	—	%	(0.19)	%	(7.31)	%
Other items, net	(3.07)	%	0.58	%	(0.33)	%
	34.01	%	26.98	%	24.43	%

(1)Reflects the net impact of the change in deferred tax assets and liabilities and the estimated transition tax resulting from the Tax Reform Act.

The primary items which increased the Company’s effective income tax rate from the federal statutory rate in 2020 were state and local taxes, non-deductible goodwill allocated to the CPG divestiture, increases in permanent book-tax differences including a one-time elimination related to an intra-company sale, and withholding tax liabilities, offset by a reduction in valuation allowances as a result of utilization of foreign tax credits.

The primary items which increased the Company’s effective income tax rate from the federal statutory rate in 2019 were state and local taxes, increases in valuation allowances, and withholding tax liabilities.

The primary items which increased the Company’s effective income tax rate from the federal statutory rate in 2018 were increases in valuation allowances and unrecognized tax benefits; offset primarily by the remeasurement of the domestic deferred tax liabilities, net of the transition tax liability due to the Tax Reform Act, and permanent book-tax differences.

The components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows:


(in millions)	2020		2019
Deferred Tax Assets
Net operating loss and other carryforwards	$	179.3	$	206.9
Foreign tax credits	—		21.5
Pension liabilities	12.9		24.1

Incentive liabilities	8.2		12.0
Workers compensation accruals	10.0		12.1

Inventories	7.8		6.7
Operating lease liabilities	76.9		—
State income taxes	10.2		9.4
Other reserves	21.0		17.0
Deferred compensation	2.4		2.3
Other	28.5		24.2





Total Deferred Tax Assets	357.2		336.2
Valuation allowance	(146.4)		(175.0)
Net Deferred Tax Assets	$	210.8	$	161.2

Deferred Tax Liabilities
Properties, plants and equipment	$	158.1	$	152.7
Operating lease assets	76.9		—
Timberland transactions	74.2		74.2
Goodwill and other intangible assets	200.2		207.5


Other	29.3		23.9
Total Deferred Tax Liabilities	538.7		458.3
Net Deferred Tax Liability	$	327.9	$	297.1

As of October 31, 2020 and 2019, the Company had deferred income tax benefits of $179.3 million and $206.9 million, respectively, from net operating loss and other tax credit carryforwards. For fiscal year ended October 31, 2020, these carryforwards are comprised of $30.6 million, $25.1 million, and $123.6 million in U.S. Federal, U.S. state, and non-U.S. jurisdictions, respectively. For fiscal year ended October 31, 2019, these carryforwards are comprised of $49.4 million, $27.3 million, and $130.2 million in U.S. Federal, U.S. state, and non-U.S. jurisdictions, respectively. The Company has recorded valuation allowances of $136.9 million and $142.3 million against non-U.S. deferred tax assets as of October 31, 2020 and 2019 respectively. The Company has also recorded valuation allowances of $9.5 million and $32.7 million, as of October 31, 2020 and 2019, respectively, against U.S. deferred tax assets. The Company had net changes in valuation allowances in 2020 of $28.6 million.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


(in millions)	2020		2019		2018
Balance of unrecognized tax benefit at November 1	$	38.8	$	36.2	$	26.8
Increases in tax positions for prior years	10.1		5.1		7.8
Decreases in tax positions for prior years	(10.5)		(0.7)		(1.4)
Increases in tax positions for current years	2.6		4.3		8.0
Settlements with taxing authorities	—		(3.6)		—
Lapse in statute of limitations	(5.5)		(2.0)		(3.6)
Currency translation	0.5		(0.5)		(1.4)
Balance at October 31	$	36.0	$	38.8	$	36.2

The 2020 net decrease in unrecognized tax benefits is primarily related to decreases in unrecognized tax benefits related to 2019 and 2020, offset by decreases related to lapses in statute of limitations. The Company files income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and various non-U.S. jurisdictions and is subject to audit by various taxing authorities for 2013 through the current year. The Company has completed its U.S. federal tax audit for the tax years through 2014.

The October 31, 2020, 2019, 2018 balances include $36.0 million, $38.8 million and $36.2 million, respectively, of unrecognized tax benefits that, if recognized, would have an impact on the effective tax rate. The Company also recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense net of tax, as applicable. As of October 31, 2020 and October 31, 2019, the Company had $7.2 million and $6.3 million, respectively, accrued for the payment of interest and penalties.

The Company has estimated the reasonably possible expected net change in unrecognized tax benefits through October 31, 2020 under ASC 740. The Company’s estimate is based on lapses of the applicable statutes of limitations, settlements and payments of uncertain tax positions. The estimated net decrease in unrecognized tax benefits for the next 12 months ranges from zero to $10.7 million. Actual results may differ materially from this estimate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Post Retirement Benefit Plans

12 Months Ended

Oct. 31, 2020

Retirement Benefits [Abstract]

Post Retirement Benefit Plans

POST-RETIREMENT BENEFIT PLANS

Defined Benefit Pension Plans

The Company has certain non-contributory defined benefit pension plans for salaried and hourly employees in the United States, Canada, Germany, the Netherlands, South Africa and the United Kingdom. The Company uses a measurement date of October 31 for fair value purposes for its pension plans. The salaried employees plans’ benefits are based primarily on years of service and earnings. The hourly employees plans’ benefits are based primarily upon years of service, and certain benefit provisions are subject to collective bargaining. The Company contributes an amount that is not less than the minimum funding and not more than the maximum tax-deductible amount to these plans. Salaried employees in the United States who commence service on or after November 1, 2007 are not eligible to participate in the U.S. defined benefit pension plan, but are eligible to participate in a defined contribution retirement program. Salaried employees outside the U.S. also have various dates in which they are not eligible to participate in the defined benefit pension plans, but are eligible to participate in a defined contribution retirement program. The category “Other International” represents the noncontributory defined benefit pension plans in Canada and South Africa.

Pension plan contributions by the Company totaled $26.4 million during 2020, which consisted of $22.4 million of employer contributions and $4.0 million of benefits paid directly by the Company. Pension plan contributions, including benefits paid directly by the Company, totaled $26.5 million and $85.5 million during 2019 and 2018, respectively. Contributions, including benefits paid directly by the Company, during 2021 are expected to be approximately $28.7 million.

The following table presents the number of participants in the defined benefit plans:


October 31, 2020	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	2,226	2,127	36	—	63	—
Vested former employees and deferred members	3,385	2,788	82	366	105	44
Retirees and beneficiaries	6,526	5,138	267	662	405	54

October 31, 2019	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	2,455	2,351	41	—	63	—
Vested former employees and deferred members	5,236	4,643	86	366	97	44
Retirees and beneficiaries	6,462	5,074	258	662	414	54

The weighted average assumptions used to measure the year-end benefit obligations as of October 31 were as follows:


As of October 31,	2020		2019
Discount rate	2.48	%	2.74	%
Rate of compensation increase	2.91	%	2.85	%

The weighted average assumptions used to determine the pension cost for the years ended October 31 were as follows:


For the year ended October 31,	2020		2019		2018
Discount rate	2.74	%	3.48	%	3.01	%
Expected Return on plan assets	4.64	%	4.12	%	4.53	%
Rate of compensation increase	2.85	%	2.85	%	2.85	%

The discount rate is determined by developing a hypothetical portfolio of individual high-quality corporate bonds available at the measurement date, the coupon and principal payments of which would be sufficient to satisfy the plans’ expected future benefit payments as defined for the projected benefit obligation. The discount rate by country is equivalent to the average yield on that hypothetical portfolio of bonds and is a reflection of current market settlement rates on such high quality bonds, government treasuries, and annuity purchase rates. To determine the expected long-term rate of return on pension plan assets, the Company considers current and expected asset allocations, as well as historical and expected returns on various categories of plan assets. In developing future return expectations for the defined benefit pension plans’ assets, the Company formulates views on the future economic environment, both in the U.S. and globally. The Company evaluates general market trends and historical relationships among a number of key variables that impact asset class returns, such as expected earnings growth, inflation, valuations, yields and spreads, using both internal and external sources. The Company takes into account expected volatility by asset class and diversification across classes to determine expected overall portfolio results given current and expected allocations. The Company uses published mortality tables for determining the expected lives of plan participants and believes that the tables selected are most-closely associated with the expected lives of plan participants as the tables are based on the country in which the participant is employed.

Based on the Company's analysis of future expectations of asset performance, past return results, and its current and expected asset allocations, the Company has assumed a 4.64% long-term expected return on those assets for cost recognition in 2020. For the defined benefit pension plans, the Company applies its expected rate of return to a market-related value of assets, which stabilizes variability in the amounts to which the Company applies that expected return.

The Company amortizes experience gains and losses as well as the effects of changes in actuarial assumptions and plan provisions over a period no longer than the average future service of employees.

During the year ended October 31, 2020, two United States defined benefit plans were combined and lump sum payments totaling $44.3 million were made to United States defined benefit plan participants who agreed to such payments, representing the current fair value of the participant’s respective pension benefit. The payments were made from plan assets, resulting in a

decrease in the fair value of both the plan assets and the projected benefit obligation of $44.3 million and noncash pension settlement income of $0.1 million of unrecognized net actuarial gain included in accumulated other comprehensive income.

During the year ended October 31, 2018, in the United Kingdom, lump sum payments totaling $4.7 million were made from the defined benefit plan assets to certain participants who agreed to such payments representing the current fair value of the participant's respective pension benefit. These lump sum payments resulted in a non-cash pension settlement charge of $1.3 million for the year ended October 31, 2018.

Subsequent to October 31, 2020, an annuity contract for approximately $100.0 million was purchased with defined benefit plan assets and the pension obligation for certain retirees in the United States was irrevocably transferred from that plan to the annuity contract settling that obligation. The settlement generated an $8.4 million pension settlement charge attributable to losses currently recorded within accumulated other comprehensive income (loss), net of tax, which will be recognized during the first quarter of 2021. In conjunction with the settlement, the United States defined benefit plan was remeasured, resulting in a decrease of the pension liability of $20.8 million. The settlement will decrease future costs for the United States defined benefit plan.

Benefit Obligations

The components of net periodic pension cost include the following:


For the year ended October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	12.8	$	11.5	$	0.4	$	0.5	$	0.3	$	0.1
Interest cost	25.9		22.4		0.2		2.7		0.3		0.3
Expected return on plan assets	(37.9)		(31.4)		—		(5.2)		(0.7)		(0.6)
Amortization of prior service (benefit) cost	(0.1)		(0.1)		—		0.1		(0.1)		—
Recognized net actuarial loss	13.2		10.2		1.8		1.1		—		0.1
Special Events
Settlement	0.3		(0.1)		—		0.4		—		—
Net periodic pension (benefit) cost	$	14.2	$	12.5	$	2.4	$	(0.4)	$	(0.2)	$	(0.1)
For the year ended October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	14.1	$	12.7	$	0.3	$	0.5	$	0.5	$	0.1
Interest cost	31.0		25.4		0.5		3.9		0.9		0.3
Expected return on plan assets	(38.8)		(30.5)		—		(6.2)		(1.3)		(0.8)
Amortization of prior service (benefit) cost	(0.1)		(0.1)		—		0.1		(0.1)		—
Recognized net actuarial loss	7.1		5.0		0.9		1.2		—		—



Net periodic pension (benefit) cost	$	13.3	$	12.5	$	1.7	$	(0.5)	$	—	$	(0.4)
For the year ended October 31, 2018	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	12.3	$	10.8	$	0.4	$	0.5	$	0.5	$	0.1
Interest cost	18.9		13.2		0.5		4.0		0.9		0.3
Expected return on plan assets	(25.5)		(16.8)		—		(6.5)		(1.4)		(0.8)
Amortization of prior service (benefit) cost	(0.2)		(0.1)		—		—		(0.1)		—
Recognized net actuarial loss	11.0		8.1		1.1		1.7		—		0.1
Other Adjustments	2.8		—		—		2.8		—		—
Special Events
Settlement	1.3		—		—		1.3		—		—
Net periodic pension (benefit) cost	$	20.6	$	15.2	$	2.0	$	3.8	$	(0.1)	$	(0.3)

Benefit obligations are described in the following tables. Accumulated and projected benefit obligations ("ABO" and "PBO") represent the obligations of a pension plan for past service as of the measurement date. ABO is the present value of benefits earned to date with benefits computed based on current compensation levels. PBO is ABO increased to reflect expected future compensation.

The following table sets forth the plans’ change in projected benefit obligation:


For the year ended October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,158.7	$	831.0	$	44.1	$	180.8	$	91.3	$	11.5
Service cost	12.8		11.5		0.4		0.5		0.3		0.1
Interest cost	25.9		22.4		0.2		2.7		0.3		0.3
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(3.4)		(2.6)		—		(0.9)		0.2		(0.1)
Actuarial loss (gain)	17.4		14.6		(3.5)		7.6		(1.6)		0.3
Foreign currency effect	8.6		—		2.3		1.7		5.0		(0.4)
Benefits paid	(109.9)		(94.9)		(1.4)		(7.8)		(4.8)		(1.0)



Benefit obligation at end of year	$	1,110.3	$	782.0	$	42.1	$	184.6	$	90.9	$	10.7
For the year ended October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	662.4	$	351.9	$	38.1	$	176.3	$	85.4	$	10.7
Service cost	14.1		12.7		0.3		0.5		0.5		0.1
Interest cost	31.0		25.4		0.5		3.9		0.9		0.3
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(5.9)		(5.1)		—		(0.7)		—		(0.1)

Actuarial loss	131.0		105.5		7.4		6.0		11.0		1.1
Foreign currency effect	(1.8)		—		(0.9)		1.1		(1.9)		(0.1)
Benefits paid	(61.6)		(48.7)		(1.3)		(6.3)		(4.8)		(0.5)
Acquisitions	389.3		389.3		—		—		—		—
Benefit obligation at end of year	$	1,158.7	$	831.0	$	44.1	$	180.8	$	91.3	$	11.5

The following tables set forth the PBO, ABO, plan assets and instances where the ABO exceeds the plan assets for the respective years:


Actuarial value of benefit obligations
(in millions)	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
October 31, 2020
Projected benefit obligation	$	1,110.3	$	782.0	$	42.1	$	184.6	$	90.9	$	10.7
Accumulated benefit obligation	1,086.1		760.3		41.0		184.6		89.3		10.9
Plan assets	1,002.1		687.0		—		210.0		92.0		13.1
October 31, 2019
Projected benefit obligation	$	1,158.7	$	831.0	$	44.1	$	180.8	$	91.3	$	11.5
Accumulated benefit obligation	1,131.3		806.8		42.6		180.8		89.6		11.5
Plan assets	1,017.0		698.7		—		209.8		94.5		14.0
Plans with ABO in excess of Plan assets
October 31, 2020
Accumulated benefit obligation	$	812.2	$	760.3	$	41.0	$	—	$	—	$	10.9
Plan assets	697.2		687.2		—		—		—		10.0
October 31, 2019
Accumulated benefit obligation	$	860.9	$	806.8	$	42.6	$	—	$	—	$	11.5
Plan assets	709.7		698.9		—		—		—		10.8

Future benefit payments for the Company's global plans, which reflect expected future service, as appropriate, during the next five years, and in the aggregate for the five years thereafter, are as follows:


(in millions)	Expected Benefit Payments
Year(s)
2021	$	63.3
2022	62.8
2023	64.7
2024	65.5
2025	63.6
2026-2030	313.0

Plan assets

The assets of all the Company's plans consist of U.S. and non-U.S. equity securities, government and corporate bonds, cash, insurance annuity mutual funds and not more than the allowable number of shares of the Company’s common stock. The assets of the plans in the aggregate include shares of the Company's common stock in the amount of 51,576 Class A shares and 30,930 Class B shares at October 31, 2020 and 175,320 Class A shares and 111,270 Class B shares at October 31, 2019.

The investment policy reflects the long-term nature of the plans’ funding obligations. The assets are invested to provide the opportunity for both income and growth of principal. This objective is pursued as a long-term goal designed to provide required benefits for participants without undue risk. It is expected that this objective can be achieved through a well-diversified asset portfolio. All equity investments are made within the guidelines of quality, marketability and diversification mandated by the Employee Retirement Income Security Act and/or other relevant statutes and laws. Investment managers are directed to maintain equity portfolios at a risk level approximately equivalent to that of the specific benchmark established for that portfolio.

The Company’s weighted average asset allocations at the measurement date and the target asset allocations by category are as follows:


Asset Category	2021 Target		2020 Target		2020 Actual
Equity securities	21	%	29	%	22	%
Debt securities	63	%	55	%	61	%
Other	16	%	16	%	17	%
Total	100	%	100	%	100	%

The fair value of the pension plans’ investments is presented below. The inputs and valuation techniques used to measure the fair value of the assets are consistently applied and described in Note 7 of the Notes to the Consolidated Financial Statements.


For the year ended October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	1,017.0	$	698.7	$	—	$	209.8	$	94.5	$	14.0
Actual return on plan assets	65.4		62.2		—		4.6		(2.1)		0.7
Expenses paid	(3.4)		(2.6)		—		(0.9)		0.2		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	6.4		—		—		1.9		5.0		(0.5)
Employer contributions	22.4		21.0		—		2.4		(1.0)		—
Benefits paid out of plan	(105.9)		(92.3)		—		(7.8)		(4.8)		(1.0)

Fair value of plan assets at end of year	$	1,002.1	$	687.0	$	—	$	210.0	$	92.0	$	13.1
For the year ended October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	594.8	$	311.9	$	—	$	178.7	$	90.6	$	13.6
Actual return on plan assets	140.1		93.4		—		35.2		10.7		0.8
Expenses paid	(5.9)		(5.1)		—		(0.7)		—		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	(0.7)		—		—		1.3		(2.1)		0.1
Employer contributions	22.7		21.0		—		1.6		—		0.1
Benefits paid out of plan	(57.8)		(46.1)		—		(6.3)		(4.9)		(0.5)
Acquisitions	323.6		323.6		—		—		—		—
Fair value of plan assets at end of year	$	1,017.0	$	698.7	$	—	$	209.8	$	94.5	$	14.0

The following table presents the fair value measurements for the pension assets:



As of October 31, 2020 (in millions)	Fair Value Measurement
Asset Category	Level 1		Level 2		Level 3		Total
Mutual funds	$	9.2	$	122.4	$	—	$	131.6
Common stock	9.3		—		—		9.3
Cash	14.8		—		—		14.8

Corporate bonds	—		250.3		—		250.3
Government bonds	—		34.2		—		34.2
Other assets	—		0.7		—		0.7
Total Assets in the Fair Value Hierarchy	$	33.3	$	407.6	$	—	$	440.9
Investments Measured at Net Asset Value
Mutual funds							0.5
Insurance contracts							132.9
Common stock funds							215.4
Corporate bond funds							203.1
Government bond funds							9.3
Investments at Fair Value	$	33.3	$	407.6	$	—	$	1,002.1

As of October 31, 2019 (in millions)	Fair Value Measurement
Asset Category	Level 1		Level 2		Level 3		Total
Mutual funds	$	25.6	$	137.4	$	—	$	163.0
Common stock	27.6		—		—		27.6
Cash	6.5		—		—		6.5
Corporate bonds	—		134.8		—		134.8
Government bonds	—		39.8		—		39.8
Other assets	—		0.2		—		0.2
Total Assets in the Fair Value Hierarchy	$	59.7	$	312.2	$	—	$	371.9
Investments Measured at Net Asset Value
Mutual funds							358.5
Insurance contracts							130.2
Common stock funds							81.5
Corporate bond funds							70.8
Government bond funds							4.1
Investments at Fair Value	$	59.7	$	312.2	$	—	$	1,017.0

Financial statement presentation including other comprehensive income:


As of October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	149.7	$	94.1	$	14.8	$	32.4	$	4.5	$	3.9
Unrecognized prior service cost (credit)	0.9		(0.8)		—		3.2		(1.5)		—

Accumulated other comprehensive loss (gain) - Pre-tax	$	150.6	$	93.3	$	14.8	$	35.6	$	3.0	$	3.9
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	29.5	$	—	$	—	$	25.3	$	1.1	$	3.1
Accrued benefit liability	(137.7)		(94.7)		(42.1)		—		—		(0.9)
Accumulated other comprehensive loss	150.6		93.3		14.8		35.6		3.0		3.9
Net amount recognized	$	42.4	$	(1.4)	$	(27.3)	$	60.9	$	4.1	$	6.1
As of October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	171.8	$	120.5	$	19.2	$	25.3	$	3.1	$	3.7
Unrecognized prior service cost (credit)	0.8		(1.0)		—		3.3		(1.5)		—

Accumulated other comprehensive loss (gain) - Pre-tax	$	172.6	$	119.5	$	19.2	$	28.6	$	1.6	$	3.7
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	35.4	$	—	$	—	$	29.0	$	3.2	$	3.2
Accrued benefit liability	(177.0)		(132.2)		(44.1)		—		—		(0.7)
Accumulated other comprehensive loss (gain)	172.6		119.5		19.2		28.6		1.6		3.7
Net amount recognized	$	31.0	$	(12.7)	$	(24.9)	$	57.6	$	4.8	$	6.2


(in millions)	October 31, 2020		October 31, 2019
Accumulated other comprehensive loss at beginning of year	$	172.6	$	150.4
Increase or (decrease) in accumulated other comprehensive loss

Net prior service benefit amortized	0.1		0.1
Net loss amortized	(13.2)		(7.1)


Loss recognized due to settlement	(0.3)		—

Liability loss (gain)	17.4		131.0
Asset (gain) loss	(27.4)		(101.3)

Increase (decrease) in accumulated other comprehensive loss	$	(23.4)	$	22.7
Foreign currency impact	1.4		(0.5)
Accumulated other comprehensive loss at year end	$	150.6	$	172.6

In 2021, the Company expects to record an amortization gain of $0.2 million of prior service credits from shareholders’ equity into pension costs.

Supplemental Employee Retirement Plan

The Company has a supplemental employee retirement plan which is an unfunded plan providing supplementary retirement benefits primarily to certain executives and longer-service employees. The present benefit obligation of the supplemental employee retirement plan is included in the United States defined benefit pension plans above.

Defined contribution plans

The Company has several voluntary 401(k) savings plans that cover eligible employees. For certain plans, the Company matches a percentage of each employee’s contribution up to a maximum percentage of base salary. The Company's contributions to the 401(k) plans were $25.2 million in 2020, $21.8 million in 2019 and $9.4 million in 2018.

Post-retirement Health Care and Life Insurance Benefits

The Company has certain post-retirement unfunded health and life insurance benefit plans in the United States and South Africa. The Company recognized income for its post-retirement benefit plans of $0.2 million, $1.1 million, and $1.1 million for the years ended 2020, 2019, and 2018, respectively. The projected benefit obligation of the Company’s post-retirement benefit plans was $11.6 million and $12.2 million as of October 31, 2020 and 2019, respectively.

Benefits paid directly by the Company totaled $0.9 million, $0.9 million and $1.0 million for the years ending 2020, 2019 and 2018 respectively. Benefits paid directly by the Company during 2021 are expected to be approximately $1.3 million.

Contingent Liabilities and Environmental Reserves	12 Months Ended
Contingent Liabilities and Environmental Reserves	Oct. 31, 2020
Environmental Remediation Obligations [Abstract]
Contingent Liabilities and Environmental Reserves	CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES Litigation-related Liabilities The Company may become involved from time-to-time in litigation and regulatory matters incidental to its business, including governmental investigations, enforcement actions, personal injury claims, product liability, employment health and safety matters, commercial disputes, intellectual property matters, disputes regarding environmental clean-up costs, litigation in connection with acquisitions and divestitures, and other matters arising out of the normal conduct of its business. The Company intends to vigorously defend itself in such litigation. The Company does not believe that the outcome of any pending litigation will have a material adverse effect on its consolidated financial statements. The Company may accrue for contingencies related to litigation and regulatory matters if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about future events. The Company regularly reviews contingencies to determine whether its accruals are adequate. The amount of ultimate loss may differ from these estimates. The Company is currently involved in legal proceedings outside of the United States related to various wrongful termination lawsuits filed by former employees and benefit claims filed by some existing employees of the Company's Flexible Products & Services segment. The lawsuits include claims for severance for employment periods prior to the Company’s ownership in the business. As of October 31, 2020 and October 31, 2019, the estimated liability recorded related to these matters were not material. The estimated liability has been determined based on the number of active cases and the settlements and rulings on previous cases. It is reasonably possible the estimated liability could increase if additional cases are filed or adverse rulings are made. Since 2017, three reconditioning facilities in the Milwaukee, Wisconsin area that are or were owned by Container Life Cycle Management LLC ("CLCM"), the Company’s U.S. reconditioning joint venture company, have been subject to investigations conducted by federal, state and local governmental agencies concerning, among other matters, potential violations of environmental laws and regulations. As a result of these investigations, the United States Environmental Protection Agency (“U.S. EPA”) and the Wisconsin Department of Natural Resources (“WDNR”) have issued notices of violations to the Company and CLCM regarding violations of certain federal and state environmental laws and regulations. The remedies being sought in these proceedings include compliance with the applicable environmental laws and regulations as being interpreted by the U.S. EPA and WDNR and monetary sanctions. The Company has cooperated with the governmental agencies in these investigations and proceedings. As of December 17, 2020, no material citations have been issued or material fines assessed with respect to any violation of environmental laws and regulations. Since these proceedings remain in their investigative stage, the Company is unable to predict the outcome of these proceedings or reasonably estimate a range of possible monetary sanctions or costs associated with any remedial actions that may be required or requested by the U.S. EPA or WDNR. In addition, on November 8, 2017, the Company, CLCM and other parties were named as defendants in a punitive class action lawsuit filed in Wisconsin state court concerning one of CLCM’s Milwaukee reconditioning facilities. The plaintiffs are alleging that odors from this facility have invaded their property and are interfering with the use and enjoyment of their property and causing damage to the value of their property. Plaintiffs are seeking compensatory and punitive damages, along with their legal fees. The Company and CLCM are vigorously defending themselves in this lawsuit. The Company is unable to predict the outcome of this lawsuit or estimate a range of reasonably possible losses. Environmental Reserves As part of the Caraustar Acquisition, the Company acquired The Newark Group, Inc., a subsidiary of Caraustar (“Newark”), and became subject to Newark’s Lower Passaic River environmental and litigation liability. By letters dated February 14, 2006 and June 2, 2006, the U.S. EPA notified Newark of its potential liability under Section 107(a) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (“CERCLA”) relating to the Diamond Alkali Superfund Site, which includes a 17-mile stretch of the Lower Passaic River that EPA has denominated the Lower Passaic River Study Area (“LPRSA”). Newark is one of at least 70 potentially responsible parties identified in this case. The EPA alleges that hazardous substances were released from Newark’s now-closed Newark, New Jersey recycled paperboard mill into the Lower Passaic River. The EPA informed the Company that it may be potentially liable for response costs that the government may incur relating to the study of the LPRSA and for unspecified natural resource damages. In April 2014, EPA issued a Focused Feasibility Study that proposed alternatives for the remediation of the lower 8 miles of the Lower Passaic River. On March 3, 2016, EPA issued its Record of Decision for the lower 8 miles of the Lower Passaic River, which presented a bank-to-bank dredging remedy selected by the agency for the lower 8 miles and which EPA estimates will cost approximately $1,380.0 million to implement. Newark is participating in an allocation process to determine its allocable share. On June 30, 2018, Occidental Chemical Corporation (“Occidental”) filed litigation in the U.S. District Court for the District of New Jersey styled Occidental Chemical Corp. v. 21st Century Fox America, Inc., et al., Civil Action No. 2:18-CV-11273 (D.N.J.), that names Newark and approximately 119 other parties as defendants. Occidental’s Complaint alleges claims under CERCLA against all defendants for cost recovery, contribution, and declaratory judgment for costs Occidental allegedly has incurred and will incur at the Diamond Alkali Superfund Site. The litigation is in its early stages, and the Company intends to vigorously defend itself in this litigation. As of October 31, 2020, the Company has accrued $11.1 million for LPRSA and the Diamond Alkali Superfund Site. It is possible that there could be resolution of uncertainties in the future that would require the Company to record charges, which could be material to future earnings. As of October 31, 2020 and October 31, 2019, the Company's environmental reserves, inclusive of the $11.1 million as of October 31, 2020 as described above, were $20.2 million and $18.7 million, respectively. These reserves are principally based on environmental studies and cost estimates provided by third parties, but also take into account management estimates. The estimated liabilities are reduced to reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of relevant costs. For sites that involve formal actions subject to joint and several liabilities, these actions have formal agreements in place to apportion the liability. Aside from the Diamond Alkali Superfund Site, other environmental reserves of the Company as of October 31, 2020 and October 31, 2019 included $3.3 million and $3.3 million, respectively, for various European drum facilities acquired from Blagden and Van Leer; $0.1 million and $0.1 million, respectively, for its various container life cycle management and recycling facilities acquired in 2011 and 2010; $0.5 million and $0.3 million, respectively, for remediation of sites no longer owned by the Company; $3.1 million and $2.0 million, respectively, for landfill closure obligations in the Company's Paper Packaging & Services segment; and $2.1 million and $1.8 million, respectively, for various other facilities around the world. The Company’s exposure to adverse developments with respect to any individual site is not expected to be material. Although environmental remediation could have a material effect on results of operations if a series of adverse developments occur in a particular quarter or year, the Company believes that the chance of a series of adverse developments occurring in the same quarter or year is remote. Future information and developments will require the Company to continually reassess the expected impact of these environmental matters.

Earnings Per Share

12 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHAREThe Company has two classes of common stock and, as such, applies the “two-class method” of computing earnings per share (“EPS”) as prescribed in ASC 260, “Earnings Per Share.” In accordance with this guidance, earnings are allocated in the same fashion as dividends would be distributed. Under the Company’s articles of incorporation, any distribution of dividends in any year must be made in proportion of one cent a share for Class A Common Stock to one and one-half cents a share for Class B Common Stock, which results in a 40% to 60% split to Class A and B shareholders, respectively. In accordance with this, earnings are allocated first to Class A and Class B Common Stock to the extent that dividends are actually paid, and the remainder is allocated assuming all of the earnings for the period have been distributed in the form of dividends.

The Company calculates EPS as follows:

Basic

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends
Per Share

Class A EPS

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Class A Shares Outstanding

Diluted

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends
Per Share

Class A EPS

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Diluted Class A Shares Outstanding

Basic

60% * Average Class B Shares Outstanding

Undistributed Net Income

Class B Dividends
Per Share

Class B EPS

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Class B Shares Outstanding

* Diluted Class B EPS calculation is identical to Basic Class B calculation

The following table provides EPS information for each period, respectively:


	Year Ended October 31,
(in millions, except per share data)	2020		2019		2018
Numerator
Numerator for basic and diluted EPS –
Net income attributable to Greif	$	108.8	$	171.0	$	209.4
Cash dividends	(104.3)		(104.0)		(100.0)
Undistributed net income (loss) attributable to Greif, Inc.	$	4.5	$	67.0	$	109.4
Denominator
Denominator for basic EPS –
Class A common stock	26.4		26.2		25.9
Class B common stock	22.0		22.0		22.0
Denominator for diluted EPS –
Class A common stock	26.4		26.2		26.0
Class B common stock	22.0		22.0		22.0
EPS Basic
Class A common stock	$	1.83	$	2.89	$	3.56
Class B common stock	$	2.74	$	4.33	$	5.33
EPS Diluted
Class A common stock	$	1.83	$	2.89	$	3.55
Class B common stock	$	2.74	$	4.33	$	5.33

The Class A Common Stock has no voting rights unless four quarterly cumulative dividends upon the Class A Common Stock are in arrears. The Class B Common Stock has full voting rights. There is no cumulative voting for the election of directors.

Common Stock Repurchases

The Board of Directors has authorized the Company to repurchase shares of the Company's Class A Common Stock or Class B Common Stock or any combination of the foregoing. As of October 31, 2020 and 2019, the remaining number of shares that may be repurchased under this authorization were 4,703,487 and 4,703,487, respectively. There were no shares repurchased during 2020 and 2019.

The following table summarizes the Company’s Class A and Class B common and treasury shares at the specified dates:


	Authorized Shares	Issued Shares	Outstanding Shares	Treasury Shares
October 31, 2020:
Class A common stock	128,000,000	42,281,920	26,441,986	15,839,934
Class B common stock	69,120,000	34,560,000	22,007,725	12,552,275
October 31, 2019:
Class A common stock	128,000,000	42,281,920	26,257,943	16,023,977
Class B common stock	69,120,000	34,560,000	22,007,725	12,552,275

The following is a reconciliation of the shares used to calculate basic and diluted earnings per share:


	Year Ended October 31,
	2020	2019	2018
Class A Common Stock:
Basic shares	26,382,838	26,189,445	25,915,887
Assumed conversion of stock options and unvested shares	7,805	25,666	49,969
Diluted shares	26,390,643	26,215,111	25,965,856
Class B Common Stock:
Basic and diluted shares	22,007,725	22,007,725	22,007,725

No stock options were antidilutive for the years ended October 31, 2020, 2019, or 2018.

EQUITY EARNINGS OF UNCONSOLIDATED AFFILIATES, NET OF TAX	12 Months Ended
	Oct. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
EQUITY EARNINGS OF UNCONSOLIDATED AFFILIATES, NET OF TAX	EQUITY EARNINGS OF UNCONSOLIDATED AFFILIATES, NET OF TAX Centurion Container LLC The Company acquired a minority interest in Centurion Container LLC ("Centurion"), a U.S.-based company involved in IBC rebottling, reconditioning and distribution, on March 31, 2020 for $3.6 million. The investment in Centurion is accounted for under the equity method because the Company has the ability to exercise significant influence through its board participation. At any time prior to October 31, 2022, the Company has the option to acquire an 80% ownership interest in Centurion at a formulaic price, as set forth in the operating agreement. Provided such interest is acquired, the Company then has the option to acquire 100% ownership of Centurion beginning on March 31, 2025 at a formulaic price set forth in the operating agreement.

Leases

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Leases

LEASES

The Company leases certain buildings, warehouses, land, transportation equipment, operating equipment, and office equipment with remaining lease terms from less than 1 year up to 22 years. The Company reviews all options to extend, terminate, or purchase a right of use asset at the time of lease inception and accounts for options deemed reasonably certain.

The Company combines lease and non-lease components for all leases, except real estate, for which these components are presented separately. Leases with an initial term of twelve months or less are not capitalized and are recognized on a straight-line basis over the lease term. The implicit rate is not readily determinable for substantially all of the Company's leases, therefore the initial present value of lease payments is calculated utilizing an estimated incremental borrowing rate determined at the portfolio level based on market and Company specific information.

Certain of the Company’s leases include variable costs. As the right of use asset recorded on the balance sheet was determined based upon factors considered at the commencement date, changes in these variable expenses are not capitalized and are expensed as incurred throughout the lease term.

As of October 31, 2020, the Company has not entered into any significant leases which have not yet commenced.

The following table presents the balance sheet classification of the Company’s lease assets and liabilities as of October 31, 2020:


(in millions)	Balance Sheet Classification	October 31, 2020
Lease Assets
Operating lease assets	Operating lease assets	$	307.5
Finance lease assets	Other long-term assets	4.6
Total lease assets		$	312.1

Lease Liabilities
Current operating lease liabilities	Current portion of operating lease liabilities	$	52.3
Current finance lease liabilities	Other current liabilities	1.7
Total current lease liabilities		54.0

Non-current operating lease liabilities	Operating lease liabilities	257.7
Non-current finance lease liabilities	Other long-term liabilities	2.9
Total non-current lease liabilities		260.6
Total lease liabilities		$	314.6

The following table presents the lease expense components:


	Year Ended
(in millions)	October 31, 2020
Operating lease cost	$	67.0
Finance lease cost	1.4
Variable lease cost*	25.4
Total lease cost	$	93.8

*Amount includes short-term lease costs.

Future maturity for the Company's lease liabilities, during the next five years, and in the aggregate for the years thereafter, are as follows:


(in millions)	Operating Leases		Finance Leases		Total expected payments
2021	$	65.6	$	1.4	$	67.0
2022	63.1		1.4		64.5
2023	55.1		1.1		56.2
2024	47.4		0.9		48.3
2025	38.8		0.5		39.3
Thereafter	171.8		0.3		172.1
Total lease payments	$	441.8	$	5.6	$	447.4
Less: Interest	(131.8)		(1.0)		(132.8)
Lease liabilities	$	310.0	$	4.6	$	314.6

The following table presents the weighted-average lease term and discount rate as of October 31, 2020:


Weighted-average remaining lease term (years):
Operating leases	11.1
Finance leases	3.6
Weighted-average discount rate:
Operating leases	3.63	%
Finance leases	3.32	%

The following table presents other required lease related information:


(in millions)	October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	69.4
Financing cash flows used for finance leases	1.3
Leased assets obtained in exchange for new operating lease liabilities	67.4
Leased assets obtained in exchange for new finance lease liabilities	0.4

In compliance with ASC 842, the Company must provide the prior year disclosures required under the previous lease guidance for comparative periods presented herein.

The table below contains information related to the Company’s rent expense as disclosed within the 10-K for the period ended October 31, 2019:


	Year Ended October 31,
(in millions)	2019		2018		2017
Rent Expense	$	86.2	$	47.1	$	41.0

The following table provides the Company’s minimum rent commitments under operating leases in the next five years and the remaining years thereafter:


(in millions)	Operating Leases		Capital Leases
Year(s):
2021	$	64.8	$	1.8
2022	57.0		1.6
2023	48.7		1.3
2024	40.1		1.0
2025	31.6		0.6
Thereafter	117.5		0.3
Total	$	359.7	$	6.6

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 States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	814.0	$	1,074.3	$	410.6	$	2,298.9
Paper Packaging & Services	1,888.4		—		28.5		1,916.9
Flexible Products & Services	28.2		214.5		30.2		272.9
Land Management	26.3		—		—		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 States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	906.3	$	1,118.0	$	466.3	$	2,490.6
Paper Packaging & Services	1,758.8		—		21.2		1,780.0
Flexible Products & Services	35.7		232.4		29.4		297.5
Land Management	26.9		—		—		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)	2020		2019		2018
Operating profit:
Rigid Industrial Packaging & Services	209.9		179.6		183.2
Paper Packaging & Services	71.0		184.3		158.3
Flexible Products & Services	15.5		25.3		19.4
Land Management	8.5		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 & Services	153.5		119.3		34.2
Flexible Products & Services	5.6		6.2		6.9
Land Management	4.5		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 & Services	61.4		81.2		39.2
Flexible Products & Services	7.5		4.8		3.7
Land Management	0.2		0.2		0.4
Total segment	117.4		139.8		120.1
Corporate and other	12.6		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, 2020		October 31, 2019		October 31, 2018
Assets:
Rigid Industrial Packaging & Services	$	2,189.7	$	2,006.3	$	1,963.0
Paper Packaging & Services	2,524.3		2,686.3		474.3
Flexible Products & Services	148.8		148.2		153.9
Land Management	348.6		348.7		347.2
Total segment	5,211.4		5,189.5		2,938.4
Corporate and other	299.5		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 Africa	377.6		277.1		276.9
Asia Pacific and other Americas	111.0		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

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Comprehensive Income (Loss)

12 Months Ended

Oct. 31, 2020

Equity [Abstract]

Comprehensive Income (Loss)

COMPREHENSIVE INCOME (LOSS)

The following table provides the roll forward of accumulated other comprehensive income (loss) for the year ended October 31, 2020:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Loss
Balance as of October 31, 2019	$	(298.0)	$	(12.7)	$	(123.0)	$	(433.7)
Other Comprehensive Income (Loss)	3.1		(12.0)		15.1		6.2

Balance as of October 31, 2020	$	(294.9)	$	(24.7)	$	(107.9)	$	(427.5)

The following table provides the roll forward of accumulated other comprehensive loss for the year ended October 31, 2019:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Loss
Balance as of October 31, 2018	$	(292.8)	$	13.4	$	(97.7)	$	(377.1)
Other Comprehensive Loss	(5.2)		(26.1)		(25.3)		(56.6)
Balance as of October 31, 2019	$	(298.0)	$	(12.7)	$	(123.0)	$	(433.7)

The components of accumulated other comprehensive income above are presented net of tax, as applicable.

Quarterly Financial Data (Unaudited)

12 Months Ended

Oct. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED)

The quarterly results of operations for 2020 and 2019 are shown below:


	2020
(in millions, except per share amounts)	January 31,		April 30,		July 31,		October 31,
Net sales	$	1,112.4	$	1,158.3	$	1,083.0	$	1,161.3
Gross profit	$	222.6	$	240.7	$	219.7	$	231.7
Net income(1)	$	36.1	$	15.8	$	24.4	$	48.0
Net income attributable to Greif, Inc.(1)	$	32.3	$	11.4	$	20.7	$	44.4
Earnings per share
Basic:
Class A Common Stock	$	0.55	$	0.19	$	0.35	$	0.74
Class B Common Stock	$	0.81	$	0.29	$	0.52	$	1.12
Diluted:
Class A Common Stock	$	0.55	$	0.19	$	0.35	$	0.74
Class B Common Stock	$	0.81	$	0.29	$	0.52	$	1.12
Earnings per share were calculated using the following number of shares:
Basic:
Class A Common Stock	26,260,943		26,386,439		26,441,986		26,441,986
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Diluted:
Class A Common Stock	26,414,280		26,386,439		26,442,595		26,512,331
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Market price (Class A Common Stock):
High	$	44.63	$	40.82	$	40.56	$	43.82
Low	$	38.64	$	24.10	$	27.57	$	34.44
Close	$	38.77	$	33.08	$	34.38	$	40.59
Market price (Class B Common Stock):
High	$	51.40	$	48.45	$	43.65	$	47.19
Low	$	45.05	$	30.80	$	34.94	$	38.29
Close	$	45.05	$	38.50	$	38.67	$	43.25

(1) The Company recorded the following transactions during the fourth quarter of 2020: (i) acquisition and integration related costs of $3.5 million; (ii) restructuring charges of $11.9 million; (iii) non-cash asset impairment charges of $1.6 million; (v) (gain) on disposals of properties, plants, equipment, net of $(17.1) million; and (vi) loss on disposals of businesses, net of $0.9 million. See the Company's Form 10-Q filings with the SEC for prior quarter significant transactions or trends.


	2019
(in millions, except per share amounts)	January 31		April 30		July 31		October 31
Net sales	$	897.0	$	1,213.3	$	1,252.6	$	1,232.1
Gross profit	$	172.8	$	248.7	$	279.4	$	259.0
Net income(1)	$	35.8	$	21.1	$	67.5	$	69.8
Net income attributable to Greif, Inc.(1)	$	29.7	$	13.6	$	62.7	$	65.0
Earnings per share
Basic:
Class A Common Stock	$	0.51	$	0.23	$	1.06	$	1.09
Class B Common Stock	$	0.75	$	0.34	$	1.59	$	1.65
Diluted:
Class A Common Stock	$	0.51	$	0.23	$	1.06	$	1.09
Class B Common Stock	$	0.75	$	0.34	$	1.59	$	1.65
Earnings per share were calculated using the following number of shares:
Basic:
Class A Common Stock	25,991,433		26,250,460		26,257,943		26,257,943
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Diluted:
Class A Common Stock	25,991,433		26,255,112		26,257,943		26,360,148
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Market price (Class A Common Stock):
High	$	49.28	$	41.49	$	39.15	$	40.59
Low	$	31.22	$	37.10	$	30.74	$	30.05
Close	$	37.67	$	38.59	$	34.57	$	39.17
Market price (Class B Common Stock):
High	$	50.55	$	48.57	$	47.69	$	48.76
Low	$	36.87	$	42.48	$	41.10	$	37.96
Close	$	43.18	$	47.23	$	42.39	$	47.03

(1)The Company recorded the following significant transactions during the fourth quarter of 2019: (i) acquisition and integration related costs of $7.5 million; (ii) restructuring charges of $5.8 million; (iii) non-cash asset impairment charges of $5.7 million; (iv) (gain) on disposals of properties, plants, equipment, net of ($6.8) million; and (v) loss on disposals of businesses, net of $0.7 million. See the Company's Form 10-Q filings with the SEC for prior quarter significant transactions or trends.

Shares of the Company’s Class A Common Stock and Class B Common Stock are listed on the New York Stock Exchange where the symbols are GEF and GEF.B, respectively.

As of December 14, 2020, there were 392 stockholders of record of the Class A Common Stock and 76 stockholders of record of the Class B Common Stock.

Redeemable Noncontrolling Interests

12 Months Ended

Oct. 31, 2020

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests

REDEEMABLE NONCONTROLLING INTERESTS

Mandatorily Redeemable Noncontrolling Interests

The terms of the joint venture agreement for one joint venture within the Rigid Industrial Packaging & Services segment include mandatory redemption by the Company, in cash, of the noncontrolling interest holders’ equity at a formulaic price after the expiration of a lockout period specific to each noncontrolling interest holder. The redemption features cause the interest to be classified as a mandatorily redeemable instrument under the accounting guidance, and this interest is included at the current redemption value each period in long-term or short-term liabilities of the Company, as applicable. The impact of marking to redemption value at each period end is recorded in interest expense. The carrying amount is not reduced below the initially recorded contribution. The Company has a contractual obligation to redeem the outstanding equity interest of each remaining partner in 2022 and 2023 respectively.

The following table provides a rollforward of the mandatorily redeemable noncontrolling interest for the years ended October 31, 2020 and 2019:


(in millions)	Mandatorily Redeemable Noncontrolling Interest
Balance as of October 31, 2018	$	8.6
Current period mark to redemption value	(0.2)
Balance as of October 31, 2019	8.4
Current period mark to redemption value	—
Balance as of October 31, 2020	$	8.4

Redeemable Noncontrolling Interests

Redeemable noncontrolling interests related to two joint ventures within the Paper Packaging & Services segment and one joint venture within the Rigid Industrial Packaging & Services segment are held by the respective noncontrolling interest owners. The holders of these interests share in the profits and losses of these entities on a pro-rata basis with the Company. However, the noncontrolling interest owners have the right to put all or a portion of those noncontrolling interests to the Company at a formulaic price after a set period of time, specific to each agreement.

On November 15, 2018, one of the noncontrolling interest owners related to one of the Paper Packaging & Services joint ventures exercised their put option for all of their ownership interests. As of October 31, 2019, the Company made a payment for approximately $10.1 million to the noncontrolling interest owner. The Company also entered into a Stock Purchase Agreement with another noncontrolling interest owner related to the same Paper Packaging & Services joint venture, pursuant to which the owner received a $1.8 million payment for certain of its equity.

Redeemable noncontrolling interests are reflected in the consolidated balance sheets at redemption value. The following table provides the rollforward of the redeemable noncontrolling interest for the years ended October 31, 2020 and 2019:


(in millions)	Redeemable Noncontrolling Interest
Balance as of October 31, 2018	$	35.5
Current period mark to redemption value	(4.9)
Repurchase of redeemable shareholder interest	(11.9)
Redeemable noncontrolling interest share of income and other	2.3
Dividends to redeemable noncontrolling interest and other	0.3
Balance as of October 31, 2019	21.3
Current period mark to redemption value	(0.4)

Redeemable noncontrolling interest share of income and other	0.1
Dividends to redeemable noncontrolling interest and other	(1.0)
Balance as of October 31, 2020	$	20.0

Schedule II - Consolidated Valuation and Qualifying Accounts and Reserves

12 Months Ended

Oct. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Consolidated Valuation and Qualifying Accounts and Reserves

SCHEDULE II

GREIF, INC. AND SUBSIDIARY COMPANIES

Consolidated Valuation and Qualifying Accounts and Reserves (Dollars in millions)


Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts		Deductions		Balance at End of Period
Year ended October 31, 2018:
Allowance for doubtful accounts	$	8.9	$	0.4	$	(4.6)	$	(0.5)	$	4.2

Year ended October 31, 2019:
Allowance for doubtful accounts	$	4.2	$	0.6	$	2.0	$	—	$	6.8

Year ended October 31, 2020:
Allowance for doubtful accounts	$	6.8	$	1.3	$	1.3	$	—	$	9.4

Subsequent Event	12 Months Ended
Subsequent Event	Oct. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On November 5, 2020, the $50.9 million Purchase Note and the $43.3 million Monetization Notes were settled, as discussed in Note 5 herein. Subsequent to October 31, 2020, the Company entered into the Incremental Term Loan Agreement, which provides for the Incremental Term A-3 Loan. The Company intends to draw upon the Incremental Term A-3 Loan prior to July 15, 2021, and to use the loan proceeds to pay all of the outstanding principal of and interest on the Senior Notes due 2021. See Note 6 herein for additional information on the Incremental Term Loan Agreement and the Senior Notes due 2021. Subsequent to October 31, 2020, an annuity contract purchased with certain U.S. defined benefit plan assets and the pension obligation for certain retirees in the U.S. was irrevocably transferred from that plan to the annuity contract settling that obligation. See Note 10 herein for additional information on the annuity contract.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Business

There were approximately 16,000 full time employees of the Company as of October 31, 2020.

Principles of Consolidation and Basis of Presentation

Argentina Currency

Use of Estimates

Cash and Cash Equivalents

The Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents. The carrying value of cash equivalents approximates fair value.

Allowance for Doubtful Accounts

Concentration of Credit Risk and Major Customers

Inventory

Net Assets Held for Sale

Goodwill and Indefinite-Lived Intangibles

Other Intangibles


			Years
Trade names			1-15
Customer relationships			5-25
Non-compete agreements			1-10
Other intangibles			1-20

Acquisitions

The consolidated financial statements include the results of operations from these business combinations from the date of acquisition.

Internal Use Software

Long-Lived Assets

Properties, plants and equipment are stated at cost. Depreciation on properties, plants and equipment is provided on the straight-line method over the estimated useful lives of the assets as follows:


			Years
Buildings			30-40
Machinery and equipment			5-15

Contingencies

Environmental Cleanup Costs

Self-insurance

Income Taxes

Other Comprehensive Income

The Company's other comprehensive income is significantly impacted by foreign currency translation, effective cash flow hedges and defined benefit pension and post-retirement benefit adjustments.

Restructuring Charges

(1)Management, having the authority to approve the action, commits to a plan of termination.

(2)The plan identifies the number of employees to be terminated, their job classifications or functions and their locations, and the expected completion date.

(4)Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Pension and Postretirement Benefits

Pension and Post-retirement Benefits

Stock-Based Compensation Expense

Revenue Recognition

Shipping and Handling Fees and Costs

The Company includes shipping and handling fees and costs in cost of products sold.

Other Expense, net

Currency Translation

Derivative Financial Instruments

Variable Interest Entities

Fair Value

The three levels of inputs used to measure fair values are as follows:

•Level 1 – Observable inputs such as unadjusted quoted prices in active markets for identical assets and liabilities.

•Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities.

•Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities.

The Company presents various fair value disclosures in Note 7 and Note 10 of the Notes to the consolidated financial statements.

Newly Adopted and Recently Issued Accounting Standards

Newly Adopted Accounting Standards

Recently Issued Accounting Standards

In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes", which is intended to simplify various aspects related to accounting for income taxes. This ASU is effective for years beginning after December 15, 2020, including interim periods within those years, with early adoption permitted. The effective date for the Company to adopt this ASU is November 1, 2021. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Amortization Expense on Other Intangible Assets

Amortization expense on intangible assets is recorded on the straight-line method over their useful lives as follows:


			Years
Trade names			1-15
Customer relationships			5-25
Non-compete agreements			1-10
Other intangibles			1-20

Schedule of Depreciation on Properties, Plants and Equipment

Depreciation on properties, plants and equipment is provided on the straight-line method over the estimated useful lives of the assets as follows:


			Years
Buildings			30-40
Machinery and equipment			5-15

Acquisitions and Divestitures Acquisitions and Divestitures (Tables)

12 Months Ended

Oct. 31, 2020

Business Combinations [Abstract]

Schedule of Preliminary Valuation of Identifiable Assets Acquired and Liabilities Assumed


(in millions)	Amounts Recognized as of the Acquisition Date		Measurement Period Adjustments (1)		Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration	$	1,834.9	$	—	1,834.9

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	147.0		—		147.0
Inventories	103.9		(4.4)		99.5
Prepaid and other current assets	21.5		(9.3)		12.2
Intangibles	717.1		8.4		725.5
Other long-term assets	1.3		4.3		5.6
Properties, plants and equipment	521.3		(17.6)		503.7
Total assets acquired	1,512.1		(18.6)		1,493.5

Accounts payable	(99.5)		—		(99.5)
Accrued payroll and employee benefits	(42.9)		(7.2)		(50.1)
Other current liabilities	(21.8)		4.5		(17.3)
Long-term deferred tax liability	(185.7)		37.4		(148.3)
Pension and post-retirement obligations	(67.1)		—		(67.1)
Other long-term liabilities	(12.7)		(7.5)		(20.2)
Total liabilities assumed	(429.7)		27.2		(402.5)
Total identifiable net assets	$	1,082.4	$	8.6	$	1,091.0
Goodwill	$	752.5	$	(8.6)	$	743.9

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the current preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired:


(in millions)	Current Preliminary Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	708.0	15.0
Trademarks	15.0		3.0
Other	2.5		4.6
Total intangible assets	$	725.5

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill by Segment

The following table summarizes the changes in the carrying amount of goodwill by segment for the years ended October 31, 2020 and 2019:


(in millions)	Rigid Industrial Packaging & Services (1)		Paper Packaging & Services		Total
Balance at October 31, 2018	$	716.5	$	59.5	$	776.0
Goodwill acquired	22.3		726.6		748.9
Goodwill allocated to divestitures and businesses held for sale			—		—
Goodwill adjustments	—		—		—

Currency translation	(7.1)		—		(7.1)
Balance at October 31, 2019	$	731.7	$	786.1	$	1,517.8
Goodwill acquired	—		—		—
Goodwill allocated to divestitures and businesses held for sale	(0.7)		(35.6)		(36.3)
Goodwill adjustments related to acquisitions	1.1		17.4		18.5

Currency translation	18.4		—		18.4
Balance at October 31, 2020	$	750.5	$	767.9	$	1,518.4

Summary of Carrying Amount of Net Intangible Assets by Class

The following table summarizes the carrying amount of net intangible assets by class as of October 31, 2020 and 2019:


(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
October 31, 2020:
Indefinite lived:
Trademarks and patents	$	13.5	$	—	$	13.5
Definite lived:
Customer relationships	$	891.8	$	204.9	$	686.9
Trademarks and patents	27.4		14.9		12.5
Non-compete agreements	1.7		1.2		0.5
Other	20.9		19.0		1.9
Total	$	955.3	$	240.0	$	715.3

October 31, 2019:
Indefinite lived:
Trademarks and patents	$	13.1	$	—	$	13.1
Definite lived:
Customer relationships	$	890.6	$	150.3	$	740.3
Trademarks and patents	27.0		9.3		17.7
Non-compete agreements	2.3		0.7		1.6
Other	21.9		18.1		3.8
Total	$	954.9	$	178.4	$	776.5

Restructuring Charges (Tables)

12 Months Ended

Oct. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Reconciliation of Beginning and Ended Restructuring Reserve Balances

The following is a reconciliation of the beginning and ending restructuring reserve balances for the years ended October 31, 2020 and 2019:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at October 31, 2018	$	4.2	$	0.2	$	4.4
Costs incurred and charged to expense	22.5		3.6		26.1
Costs paid or otherwise settled	(17.2)		(2.0)		(19.2)
Balance at October 31, 2019	$	9.5	$	1.8	$	11.3
Costs incurred and charged to expense	26.4		12.3		38.7
Costs paid or otherwise settled	(18.0)		(10.4)		(28.4)
Balance at October 31, 2020	$	17.9	$	3.7	$	21.6

Schedule of Reconciliation of Total Amounts Expected to be Incurred from Open Restructuring Plans Anticipated to be Realized


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the year ended October 31, 2020		Amounts Remaining to be Incurred
Rigid Industrial Packaging & Services:
Employee separation costs	$	31.6	$	21.0	10.6
Other restructuring costs	10.9		5.3		5.6
	42.5		26.3		16.2
Flexible Products & Services:
Employee separation costs	1.9		0.9		1.0
Other restructuring costs	2.4		1.9		0.5
	4.3		2.8		1.5
Paper Packaging & Services:
Employee separation costs	4.5		4.5		—
Other restructuring costs	10.2		5.1		5.1
	14.7		9.6		5.1




Total	$	61.5	$	38.7	$	22.8

Consolidation of Variable Interest Entities (Tables)

12 Months Ended

Oct. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Total Net Assets of Flexible Packaging JV

The following table presents the Flexible Packaging JV total net assets:


(in millions)	October 31, 2020		October 31, 2019
Cash and cash equivalents	$	19.0	$	16.9
Trade accounts receivable, less allowance of $0.7 in 2020 and $0.7 in 2019	47.5		51.2
Inventories	36.0		46.4
Properties, plants and equipment, net	22.8		22.3
Other assets	20.3		29.3
Total assets	$	145.6	$	166.1

Accounts payable	$	29.4	$	28.9
Other liabilities	22.8		23.6
Total liabilities	$	52.2	$	52.5

Schedule of Total Net Assets of Paper Packaging JV

The following table presents the Paper Packaging JV total net assets:


(in millions)	October 31, 2020

Trade accounts receivable, less allowance of $0.0 in 2020	5.5
Inventories	6.3
Properties, plants and equipment, net	34.3
Other assets	0.6
Total assets	$	46.7

Accounts payable	5.2
Other liabilities	1.3
Total liabilities	$	6.5

Long-Term Debt (Tables)

12 Months Ended

Oct. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt is summarized as follows:


(in millions)	October 31, 2020		October 31, 2019
2019 Credit Agreement - Term Loans	$	1,429.8	$	1,612.2
Senior Notes due 2027	495.1		494.3
Senior Notes due 2021	234.8		221.7
Accounts receivable credit facilities	310.0		351.6
2019 Credit Agreement - Revolving Credit Facility	—		76.1
Other debt	—		0.4
	2,469.7		2,756.3
Less current portion	123.1		83.7
Less deferred financing costs	11.1		13.6
Long-term debt, net	$	2,335.5	$	2,659.0

Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Oct. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Recurring Fair Value Measurements

The following table presents the fair value of those assets and (liabilities) measured on a recurring basis as of October 31, 2020 and 2019:


	October 31, 2020
	Fair Value Measurement								Balance Sheet Location
(in millions)	Level 1		Level 2		Level 3		Total

Interest rate derivatives	$	—	$	(37.9)	$	—	$	(37.9)	Other current liabilities and other long-term liabilities
Foreign exchange hedges	—		1.5		—		1.5		Other current assets
Foreign exchange hedges	—		(1.6)		—		(1.6)		Other current liabilities
Insurance annuity	—		—		21.4		21.4		Other long-term assets
Cross currency swap	—		8.9		—		8.9		Other current assets and other long-term assets
Total	$	—	$	(29.1)	$	21.4	$	(7.7)

	October 31, 2019
	Fair Value Measurement								Balance Sheet Location
(in millions)	Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	1.3	$	—	$	1.3	Other long-term assets and other current assets
Interest rate derivatives	—		(25.0)		—		(25.0)		Other long-term liabilities and other current liabilities
Foreign exchange hedges	—		0.9		—		0.9		Other current assets
Foreign exchange hedges	—		(0.2)		—		(0.2)		Other current liabilities
Insurance annuity	—		—		20.0		20.0		Other long-term assets
Cross currency swap	—		10.6		—		10.6		Other long-term assets and other current assets
Total	$	—	$	(12.4)	$	20.0	$	7.6

Schedule of Estimated Fair Values for the Company's Senior Notes and Assets Held by Special Purpose Entities

The following table presents the estimated fair values for the Company’s Senior Notes and Assets held by special purpose entities:


(in millions)	October 31, 2020	October 31, 2019
Senior Notes due 2021 estimated fair value	242.0	248.1
Senior Notes due 2027 estimated fair value	524.4	537.9
Assets held by special purpose entities estimated fair value	50.9	51.9

Schedule of Quantitative about Significant Unobservable Inputs Used to Determine Fair Value of Impairment of Long-Lived Assets Held and Used

Quantitative Information about Level 3 Fair Value Measurements

(in millions)

Fair Value of
Impairment

Valuation
Technique

Unobservable
Input

Range
of Input Values

October 31, 2020

Impairment of Long Lived Assets

18.5

Discounted Cash Flows, Indicative Bids

N/A

Total

18.5

October 31, 2019

Impairment of Net Assets Held for Sale

2.1

Indicative Bids

N/A

Impairment of Long Lived Assets

5.7

Sales Value

N/A

Total

7.8

Stock-Based Compensation (Tables)

12 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Valuation Assumptions

The following table summarizes the weighted average key assumptions used in estimating the value of PSUs:


			Performance Stock Units
Performance period			11/1/2019 - 10/31/2022
Valuation date stock price			$40.59
Risk-free rate			0.10% - 1.59%
Estimated volatility			46.4%

Income Taxes (Tables)

12 Months Ended

Oct. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:


	Year Ended October 31,
(in millions)	2020		2019		2018
Current
Federal	$	(9.7)	$	26.6	$	74.0
State and local	3.3		6.1		8.0
Non-U.S.	53.0		35.9		36.1
	46.6		68.6		118.1
Deferred
Federal	7.9		2.1		(45.2)
State and local	10.2		0.9		0.8
Non-U.S.	(1.4)		(0.9)		(0.4)
	16.7		2.1		(44.8)
	$	63.3	$	70.7	$	73.3

Schedule of Reconciliation of Effective Income Tax Rate

The following is a reconciliation of the provision for income taxes based on the federal statutory rate to the Company’s effective income tax rate:


	Year Ended October 31,
	2020		2019		2018
Federal statutory rate	21.00	%	21.00	%	23.33	%
Impact of foreign tax rate differential	0.49	%	0.10	%	(0.57)	%
State and local taxes, net of federal tax benefit	5.71	%	1.99	%	2.38	%
Net impact of changes in valuation allowances	(15.23)	%	2.41	%	5.65	%

Non-deductible write-off and impairment of goodwill and other intangible assets	4.02	%	0.29	%	0.06	%
Unrecognized tax benefits	(0.75)	%	(0.76)	%	3.41	%
Permanent book-tax differences	16.56	%	(0.87)	%	(4.03)	%
Withholding taxes	5.28	%	2.43	%	1.84	%
Tax Reform Act (1)	—	%	(0.19)	%	(7.31)	%
Other items, net	(3.07)	%	0.58	%	(0.33)	%
	34.01	%	26.98	%	24.43	%

(1)Reflects the net impact of the change in deferred tax assets and liabilities and the estimated transition tax resulting from the Tax Reform Act.

Schedule of Significant Components of Company's Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows:


(in millions)	2020		2019
Deferred Tax Assets
Net operating loss and other carryforwards	$	179.3	$	206.9
Foreign tax credits	—		21.5
Pension liabilities	12.9		24.1

Incentive liabilities	8.2		12.0
Workers compensation accruals	10.0		12.1

Inventories	7.8		6.7
Operating lease liabilities	76.9		—
State income taxes	10.2		9.4
Other reserves	21.0		17.0
Deferred compensation	2.4		2.3
Other	28.5		24.2





Total Deferred Tax Assets	357.2		336.2
Valuation allowance	(146.4)		(175.0)
Net Deferred Tax Assets	$	210.8	$	161.2

Deferred Tax Liabilities
Properties, plants and equipment	$	158.1	$	152.7
Operating lease assets	76.9		—
Timberland transactions	74.2		74.2
Goodwill and other intangible assets	200.2		207.5


Other	29.3		23.9
Total Deferred Tax Liabilities	538.7		458.3
Net Deferred Tax Liability	$	327.9	$	297.1

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


(in millions)	2020		2019		2018
Balance of unrecognized tax benefit at November 1	$	38.8	$	36.2	$	26.8
Increases in tax positions for prior years	10.1		5.1		7.8
Decreases in tax positions for prior years	(10.5)		(0.7)		(1.4)
Increases in tax positions for current years	2.6		4.3		8.0
Settlements with taxing authorities	—		(3.6)		—
Lapse in statute of limitations	(5.5)		(2.0)		(3.6)
Currency translation	0.5		(0.5)		(1.4)
Balance at October 31	$	36.0	$	38.8	$	36.2

Post Retirement Benefit Plans (Tables)

12 Months Ended

Oct. 31, 2020

Retirement Benefits [Abstract]

Schedule of Number of Participants in Defined Benefit Plans

The following table presents the number of participants in the defined benefit plans:


October 31, 2020	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	2,226	2,127	36	—	63	—
Vested former employees and deferred members	3,385	2,788	82	366	105	44
Retirees and beneficiaries	6,526	5,138	267	662	405	54

October 31, 2019	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	2,455	2,351	41	—	63	—
Vested former employees and deferred members	5,236	4,643	86	366	97	44
Retirees and beneficiaries	6,462	5,074	258	662	414	54

Schedule of Actuarial Assumptions Used to Measure Benefit Obligations and Pension Costs

The weighted average assumptions used to measure the year-end benefit obligations as of October 31 were as follows:


As of October 31,	2020		2019
Discount rate	2.48	%	2.74	%
Rate of compensation increase	2.91	%	2.85	%

The weighted average assumptions used to determine the pension cost for the years ended October 31 were as follows:


For the year ended October 31,	2020		2019		2018
Discount rate	2.74	%	3.48	%	3.01	%
Expected Return on plan assets	4.64	%	4.12	%	4.53	%
Rate of compensation increase	2.85	%	2.85	%	2.85	%

Schedule of Components of Net Periodic Cost for Postretirement Benefits

The components of net periodic pension cost include the following:


For the year ended October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	12.8	$	11.5	$	0.4	$	0.5	$	0.3	$	0.1
Interest cost	25.9		22.4		0.2		2.7		0.3		0.3
Expected return on plan assets	(37.9)		(31.4)		—		(5.2)		(0.7)		(0.6)
Amortization of prior service (benefit) cost	(0.1)		(0.1)		—		0.1		(0.1)		—
Recognized net actuarial loss	13.2		10.2		1.8		1.1		—		0.1
Special Events
Settlement	0.3		(0.1)		—		0.4		—		—
Net periodic pension (benefit) cost	$	14.2	$	12.5	$	2.4	$	(0.4)	$	(0.2)	$	(0.1)
For the year ended October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	14.1	$	12.7	$	0.3	$	0.5	$	0.5	$	0.1
Interest cost	31.0		25.4		0.5		3.9		0.9		0.3
Expected return on plan assets	(38.8)		(30.5)		—		(6.2)		(1.3)		(0.8)
Amortization of prior service (benefit) cost	(0.1)		(0.1)		—		0.1		(0.1)		—
Recognized net actuarial loss	7.1		5.0		0.9		1.2		—		—



Net periodic pension (benefit) cost	$	13.3	$	12.5	$	1.7	$	(0.5)	$	—	$	(0.4)
For the year ended October 31, 2018	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	12.3	$	10.8	$	0.4	$	0.5	$	0.5	$	0.1
Interest cost	18.9		13.2		0.5		4.0		0.9		0.3
Expected return on plan assets	(25.5)		(16.8)		—		(6.5)		(1.4)		(0.8)
Amortization of prior service (benefit) cost	(0.2)		(0.1)		—		—		(0.1)		—
Recognized net actuarial loss	11.0		8.1		1.1		1.7		—		0.1
Other Adjustments	2.8		—		—		2.8		—		—
Special Events
Settlement	1.3		—		—		1.3		—		—
Net periodic pension (benefit) cost	$	20.6	$	15.2	$	2.0	$	3.8	$	(0.1)	$	(0.3)

Schedule of Change in Projected Benefit Obligation

The following table sets forth the plans’ change in projected benefit obligation:


For the year ended October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,158.7	$	831.0	$	44.1	$	180.8	$	91.3	$	11.5
Service cost	12.8		11.5		0.4		0.5		0.3		0.1
Interest cost	25.9		22.4		0.2		2.7		0.3		0.3
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(3.4)		(2.6)		—		(0.9)		0.2		(0.1)
Actuarial loss (gain)	17.4		14.6		(3.5)		7.6		(1.6)		0.3
Foreign currency effect	8.6		—		2.3		1.7		5.0		(0.4)
Benefits paid	(109.9)		(94.9)		(1.4)		(7.8)		(4.8)		(1.0)



Benefit obligation at end of year	$	1,110.3	$	782.0	$	42.1	$	184.6	$	90.9	$	10.7
For the year ended October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	662.4	$	351.9	$	38.1	$	176.3	$	85.4	$	10.7
Service cost	14.1		12.7		0.3		0.5		0.5		0.1
Interest cost	31.0		25.4		0.5		3.9		0.9		0.3
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(5.9)		(5.1)		—		(0.7)		—		(0.1)

Actuarial loss	131.0		105.5		7.4		6.0		11.0		1.1
Foreign currency effect	(1.8)		—		(0.9)		1.1		(1.9)		(0.1)
Benefits paid	(61.6)		(48.7)		(1.3)		(6.3)		(4.8)		(0.5)
Acquisitions	389.3		389.3		—		—		—		—
Benefit obligation at end of year	$	1,158.7	$	831.0	$	44.1	$	180.8	$	91.3	$	11.5

Schedule of Benefit Obligations in Excess of Plan Assets

The following tables set forth the PBO, ABO, plan assets and instances where the ABO exceeds the plan assets for the respective years:


Actuarial value of benefit obligations
(in millions)	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
October 31, 2020
Projected benefit obligation	$	1,110.3	$	782.0	$	42.1	$	184.6	$	90.9	$	10.7
Accumulated benefit obligation	1,086.1		760.3		41.0		184.6		89.3		10.9
Plan assets	1,002.1		687.0		—		210.0		92.0		13.1
October 31, 2019
Projected benefit obligation	$	1,158.7	$	831.0	$	44.1	$	180.8	$	91.3	$	11.5
Accumulated benefit obligation	1,131.3		806.8		42.6		180.8		89.6		11.5
Plan assets	1,017.0		698.7		—		209.8		94.5		14.0
Plans with ABO in excess of Plan assets
October 31, 2020
Accumulated benefit obligation	$	812.2	$	760.3	$	41.0	$	—	$	—	$	10.9
Plan assets	697.2		687.2		—		—		—		10.0
October 31, 2019
Accumulated benefit obligation	$	860.9	$	806.8	$	42.6	$	—	$	—	$	11.5
Plan assets	709.7		698.9		—		—		—		10.8

Schedule of Future Benefit Payments Next Five Years and Thereafter


(in millions)	Expected Benefit Payments
Year(s)
2021	$	63.3
2022	62.8
2023	64.7
2024	65.5
2025	63.6
2026-2030	313.0

Schedule of Weighted Average Asset Allocations at Measurement Date and Target Asset Allocations

The Company’s weighted average asset allocations at the measurement date and the target asset allocations by category are as follows:


Asset Category	2021 Target		2020 Target		2020 Actual
Equity securities	21	%	29	%	22	%
Debt securities	63	%	55	%	61	%
Other	16	%	16	%	17	%
Total	100	%	100	%	100	%

Schedule of Fair Value of the Pension Plans Investments


For the year ended October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	1,017.0	$	698.7	$	—	$	209.8	$	94.5	$	14.0
Actual return on plan assets	65.4		62.2		—		4.6		(2.1)		0.7
Expenses paid	(3.4)		(2.6)		—		(0.9)		0.2		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	6.4		—		—		1.9		5.0		(0.5)
Employer contributions	22.4		21.0		—		2.4		(1.0)		—
Benefits paid out of plan	(105.9)		(92.3)		—		(7.8)		(4.8)		(1.0)

Fair value of plan assets at end of year	$	1,002.1	$	687.0	$	—	$	210.0	$	92.0	$	13.1
For the year ended October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	594.8	$	311.9	$	—	$	178.7	$	90.6	$	13.6
Actual return on plan assets	140.1		93.4		—		35.2		10.7		0.8
Expenses paid	(5.9)		(5.1)		—		(0.7)		—		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	(0.7)		—		—		1.3		(2.1)		0.1
Employer contributions	22.7		21.0		—		1.6		—		0.1
Benefits paid out of plan	(57.8)		(46.1)		—		(6.3)		(4.9)		(0.5)
Acquisitions	323.6		323.6		—		—		—		—
Fair value of plan assets at end of year	$	1,017.0	$	698.7	$	—	$	209.8	$	94.5	$	14.0

Schedule of Fair Value Measurements for Pension Assets

The following table presents the fair value measurements for the pension assets:



As of October 31, 2020 (in millions)	Fair Value Measurement
Asset Category	Level 1		Level 2		Level 3		Total
Mutual funds	$	9.2	$	122.4	$	—	$	131.6
Common stock	9.3		—		—		9.3
Cash	14.8		—		—		14.8

Corporate bonds	—		250.3		—		250.3
Government bonds	—		34.2		—		34.2
Other assets	—		0.7		—		0.7
Total Assets in the Fair Value Hierarchy	$	33.3	$	407.6	$	—	$	440.9
Investments Measured at Net Asset Value
Mutual funds							0.5
Insurance contracts							132.9
Common stock funds							215.4
Corporate bond funds							203.1
Government bond funds							9.3
Investments at Fair Value	$	33.3	$	407.6	$	—	$	1,002.1

As of October 31, 2019 (in millions)	Fair Value Measurement
Asset Category	Level 1		Level 2		Level 3		Total
Mutual funds	$	25.6	$	137.4	$	—	$	163.0
Common stock	27.6		—		—		27.6
Cash	6.5		—		—		6.5
Corporate bonds	—		134.8		—		134.8
Government bonds	—		39.8		—		39.8
Other assets	—		0.2		—		0.2
Total Assets in the Fair Value Hierarchy	$	59.7	$	312.2	$	—	$	371.9
Investments Measured at Net Asset Value
Mutual funds							358.5
Insurance contracts							130.2
Common stock funds							81.5
Corporate bond funds							70.8
Government bond funds							4.1
Investments at Fair Value	$	59.7	$	312.2	$	—	$	1,017.0

Schedule of Amounts Recognized in Consolidated Financial Statements

Financial statement presentation including other comprehensive income:


As of October 31, 2020	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	149.7	$	94.1	$	14.8	$	32.4	$	4.5	$	3.9
Unrecognized prior service cost (credit)	0.9		(0.8)		—		3.2		(1.5)		—

Accumulated other comprehensive loss (gain) - Pre-tax	$	150.6	$	93.3	$	14.8	$	35.6	$	3.0	$	3.9
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	29.5	$	—	$	—	$	25.3	$	1.1	$	3.1
Accrued benefit liability	(137.7)		(94.7)		(42.1)		—		—		(0.9)
Accumulated other comprehensive loss	150.6		93.3		14.8		35.6		3.0		3.9
Net amount recognized	$	42.4	$	(1.4)	$	(27.3)	$	60.9	$	4.1	$	6.1
As of October 31, 2019	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	171.8	$	120.5	$	19.2	$	25.3	$	3.1	$	3.7
Unrecognized prior service cost (credit)	0.8		(1.0)		—		3.3		(1.5)		—

Accumulated other comprehensive loss (gain) - Pre-tax	$	172.6	$	119.5	$	19.2	$	28.6	$	1.6	$	3.7
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	35.4	$	—	$	—	$	29.0	$	3.2	$	3.2
Accrued benefit liability	(177.0)		(132.2)		(44.1)		—		—		(0.7)
Accumulated other comprehensive loss (gain)	172.6		119.5		19.2		28.6		1.6		3.7
Net amount recognized	$	31.0	$	(12.7)	$	(24.9)	$	57.6	$	4.8	$	6.2


(in millions)	October 31, 2020		October 31, 2019
Accumulated other comprehensive loss at beginning of year	$	172.6	$	150.4
Increase or (decrease) in accumulated other comprehensive loss

Net prior service benefit amortized	0.1		0.1
Net loss amortized	(13.2)		(7.1)


Loss recognized due to settlement	(0.3)		—

Liability loss (gain)	17.4		131.0
Asset (gain) loss	(27.4)		(101.3)

Increase (decrease) in accumulated other comprehensive loss	$	(23.4)	$	22.7
Foreign currency impact	1.4		(0.5)
Accumulated other comprehensive loss at year end	$	150.6	$	172.6

Earnings Per Share (Tables)

12 Months Ended

Oct. 31, 2020

Earnings Per Share [Abstract]

Schedule of Computation of Class Based Basic and Diluted Earnings Per Share

The Company calculates EPS as follows:

Basic

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends
Per Share

Class A EPS

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Class A Shares Outstanding

Diluted

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends
Per Share

Class A EPS

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Diluted Class A Shares Outstanding

Basic

60% * Average Class B Shares Outstanding

Undistributed Net Income

Class B Dividends
Per Share

Class B EPS

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Class B Shares Outstanding

* Diluted Class B EPS calculation is identical to Basic Class B calculation

Schedule of Computation of Earnings Per Share Basic and Diluted

The following table provides EPS information for each period, respectively:


	Year Ended October 31,
(in millions, except per share data)	2020		2019		2018
Numerator
Numerator for basic and diluted EPS –
Net income attributable to Greif	$	108.8	$	171.0	$	209.4
Cash dividends	(104.3)		(104.0)		(100.0)
Undistributed net income (loss) attributable to Greif, Inc.	$	4.5	$	67.0	$	109.4
Denominator
Denominator for basic EPS –
Class A common stock	26.4		26.2		25.9
Class B common stock	22.0		22.0		22.0
Denominator for diluted EPS –
Class A common stock	26.4		26.2		26.0
Class B common stock	22.0		22.0		22.0
EPS Basic
Class A common stock	$	1.83	$	2.89	$	3.56
Class B common stock	$	2.74	$	4.33	$	5.33
EPS Diluted
Class A common stock	$	1.83	$	2.89	$	3.55
Class B common stock	$	2.74	$	4.33	$	5.33

Schedule of Company's Class A and Class B Common and Treasury Shares

The following table summarizes the Company’s Class A and Class B common and treasury shares at the specified dates:


	Authorized Shares	Issued Shares	Outstanding Shares	Treasury Shares
October 31, 2020:
Class A common stock	128,000,000	42,281,920	26,441,986	15,839,934
Class B common stock	69,120,000	34,560,000	22,007,725	12,552,275
October 31, 2019:
Class A common stock	128,000,000	42,281,920	26,257,943	16,023,977
Class B common stock	69,120,000	34,560,000	22,007,725	12,552,275

Schedule of Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share

The following is a reconciliation of the shares used to calculate basic and diluted earnings per share:


	Year Ended October 31,
	2020	2019	2018
Class A Common Stock:
Basic shares	26,382,838	26,189,445	25,915,887
Assumed conversion of stock options and unvested shares	7,805	25,666	49,969
Diluted shares	26,390,643	26,215,111	25,965,856
Class B Common Stock:
Basic and diluted shares	22,007,725	22,007,725	22,007,725

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

LEASES - (Tables)

12 Months Ended

Oct. 31, 2020

Leases [Abstract]

Lease Assets And Liabilities

The following table presents the balance sheet classification of the Company’s lease assets and liabilities as of October 31, 2020:


(in millions)	Balance Sheet Classification	October 31, 2020
Lease Assets
Operating lease assets	Operating lease assets	$	307.5
Finance lease assets	Other long-term assets	4.6
Total lease assets		$	312.1

Lease Liabilities
Current operating lease liabilities	Current portion of operating lease liabilities	$	52.3
Current finance lease liabilities	Other current liabilities	1.7
Total current lease liabilities		54.0

Non-current operating lease liabilities	Operating lease liabilities	257.7
Non-current finance lease liabilities	Other long-term liabilities	2.9
Total non-current lease liabilities		260.6
Total lease liabilities		$	314.6

Components of Lease Expense


	Year Ended
(in millions)	October 31, 2020
Operating lease cost	$	67.0
Finance lease cost	1.4
Variable lease cost*	25.4
Total lease cost	$	93.8

*Amount includes short-term lease costs.

The following table presents the weighted-average lease term and discount rate as of October 31, 2020:


Weighted-average remaining lease term (years):
Operating leases	11.1
Finance leases	3.6
Weighted-average discount rate:
Operating leases	3.63	%
Finance leases	3.32	%

The following table presents other required lease related information:


(in millions)	October 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	69.4
Financing cash flows used for finance leases	1.3
Leased assets obtained in exchange for new operating lease liabilities	67.4
Leased assets obtained in exchange for new finance lease liabilities	0.4

Maturities of Operating Lease Liabilities

Future maturity for the Company's lease liabilities, during the next five years, and in the aggregate for the years thereafter, are as follows:


(in millions)	Operating Leases		Finance Leases		Total expected payments
2021	$	65.6	$	1.4	$	67.0
2022	63.1		1.4		64.5
2023	55.1		1.1		56.2
2024	47.4		0.9		48.3
2025	38.8		0.5		39.3
Thereafter	171.8		0.3		172.1
Total lease payments	$	441.8	$	5.6	$	447.4
Less: Interest	(131.8)		(1.0)		(132.8)
Lease liabilities	$	310.0	$	4.6	$	314.6

Maturities of Financing Lease Liabilities

Future maturity for the Company's lease liabilities, during the next five years, and in the aggregate for the years thereafter, are as follows:


(in millions)	Operating Leases		Finance Leases		Total expected payments
2021	$	65.6	$	1.4	$	67.0
2022	63.1		1.4		64.5
2023	55.1		1.1		56.2
2024	47.4		0.9		48.3
2025	38.8		0.5		39.3
Thereafter	171.8		0.3		172.1
Total lease payments	$	441.8	$	5.6	$	447.4
Less: Interest	(131.8)		(1.0)		(132.8)
Lease liabilities	$	310.0	$	4.6	$	314.6

Schedule of Information Related to Company's Rent Expense

The table below contains information related to the Company’s rent expense as disclosed within the 10-K for the period ended October 31, 2019:


	Year Ended October 31,
(in millions)	2019		2018		2017
Rent Expense	$	86.2	$	47.1	$	41.0

Schedule of Company's Minimum Rent Commitments Under Operating and Capital Leases

The following table provides the Company’s minimum rent commitments under operating leases in the next five years and the remaining years thereafter:


(in millions)	Operating Leases		Capital Leases
Year(s):
2021	$	64.8	$	1.8
2022	57.0		1.6
2023	48.7		1.3
2024	40.1		1.0
2025	31.6		0.6
Thereafter	117.5		0.3
Total	$	359.7	$	6.6

Business Segment Information (Tables)

12 Months Ended

Oct. 31, 2020

Segment Reporting [Abstract]

Schedule of Revenue from External Customers by Geographic Areas

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 States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	814.0	$	1,074.3	$	410.6	$	2,298.9
Paper Packaging & Services	1,888.4		—		28.5		1,916.9
Flexible Products & Services	28.2		214.5		30.2		272.9
Land Management	26.3		—		—		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 States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	906.3	$	1,118.0	$	466.3	$	2,490.6
Paper Packaging & Services	1,758.8		—		21.2		1,780.0
Flexible Products & Services	35.7		232.4		29.4		297.5
Land Management	26.9		—		—		26.9
Total net sales	$	2,727.7	$	1,350.4	$	516.9	$	4,595.0

Schedule of Segment Information

The following segment information is presented for each of the three years in the period ended October 31:


(in millions)	2020		2019		2018
Operating profit:
Rigid Industrial Packaging & Services	209.9		179.6		183.2
Paper Packaging & Services	71.0		184.3		158.3
Flexible Products & Services	15.5		25.3		19.4
Land Management	8.5		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 & Services	153.5		119.3		34.2
Flexible Products & Services	5.6		6.2		6.9
Land Management	4.5		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 & Services	61.4		81.2		39.2
Flexible Products & Services	7.5		4.8		3.7
Land Management	0.2		0.2		0.4
Total segment	117.4		139.8		120.1
Corporate and other	12.6		17.1		19.0
Total capital expenditures	$	130.0	$	156.9	$	139.1

Schedule of Properties, Plants and Equipment, Net by Geographical Area

The following table presents total assets by segment and total long lived assets, net by geographic area:


(in millions)	October 31, 2020		October 31, 2019		October 31, 2018
Assets:
Rigid Industrial Packaging & Services	$	2,189.7	$	2,006.3	$	1,963.0
Paper Packaging & Services	2,524.3		2,686.3		474.3
Flexible Products & Services	148.8		148.2		153.9
Land Management	348.6		348.7		347.2
Total segment	5,211.4		5,189.5		2,938.4
Corporate and other	299.5		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 Africa	377.6		277.1		276.9
Asia Pacific and other Americas	111.0		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

Comprehensive Income (Loss) (Tables)

12 Months Ended

Oct. 31, 2020

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides the roll forward of accumulated other comprehensive income (loss) for the year ended October 31, 2020:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Loss
Balance as of October 31, 2019	$	(298.0)	$	(12.7)	$	(123.0)	$	(433.7)
Other Comprehensive Income (Loss)	3.1		(12.0)		15.1		6.2

Balance as of October 31, 2020	$	(294.9)	$	(24.7)	$	(107.9)	$	(427.5)

The following table provides the roll forward of accumulated other comprehensive loss for the year ended October 31, 2019:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Loss
Balance as of October 31, 2018	$	(292.8)	$	13.4	$	(97.7)	$	(377.1)
Other Comprehensive Loss	(5.2)		(26.1)		(25.3)		(56.6)
Balance as of October 31, 2019	$	(298.0)	$	(12.7)	$	(123.0)	$	(433.7)

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Oct. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations

The quarterly results of operations for 2020 and 2019 are shown below:


	2020
(in millions, except per share amounts)	January 31,		April 30,		July 31,		October 31,
Net sales	$	1,112.4	$	1,158.3	$	1,083.0	$	1,161.3
Gross profit	$	222.6	$	240.7	$	219.7	$	231.7
Net income(1)	$	36.1	$	15.8	$	24.4	$	48.0
Net income attributable to Greif, Inc.(1)	$	32.3	$	11.4	$	20.7	$	44.4
Earnings per share
Basic:
Class A Common Stock	$	0.55	$	0.19	$	0.35	$	0.74
Class B Common Stock	$	0.81	$	0.29	$	0.52	$	1.12
Diluted:
Class A Common Stock	$	0.55	$	0.19	$	0.35	$	0.74
Class B Common Stock	$	0.81	$	0.29	$	0.52	$	1.12
Earnings per share were calculated using the following number of shares:
Basic:
Class A Common Stock	26,260,943		26,386,439		26,441,986		26,441,986
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Diluted:
Class A Common Stock	26,414,280		26,386,439		26,442,595		26,512,331
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Market price (Class A Common Stock):
High	$	44.63	$	40.82	$	40.56	$	43.82
Low	$	38.64	$	24.10	$	27.57	$	34.44
Close	$	38.77	$	33.08	$	34.38	$	40.59
Market price (Class B Common Stock):
High	$	51.40	$	48.45	$	43.65	$	47.19
Low	$	45.05	$	30.80	$	34.94	$	38.29
Close	$	45.05	$	38.50	$	38.67	$	43.25


	2019
(in millions, except per share amounts)	January 31		April 30		July 31		October 31
Net sales	$	897.0	$	1,213.3	$	1,252.6	$	1,232.1
Gross profit	$	172.8	$	248.7	$	279.4	$	259.0
Net income(1)	$	35.8	$	21.1	$	67.5	$	69.8
Net income attributable to Greif, Inc.(1)	$	29.7	$	13.6	$	62.7	$	65.0
Earnings per share
Basic:
Class A Common Stock	$	0.51	$	0.23	$	1.06	$	1.09
Class B Common Stock	$	0.75	$	0.34	$	1.59	$	1.65
Diluted:
Class A Common Stock	$	0.51	$	0.23	$	1.06	$	1.09
Class B Common Stock	$	0.75	$	0.34	$	1.59	$	1.65
Earnings per share were calculated using the following number of shares:
Basic:
Class A Common Stock	25,991,433		26,250,460		26,257,943		26,257,943
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Diluted:
Class A Common Stock	25,991,433		26,255,112		26,257,943		26,360,148
Class B Common Stock	22,007,725		22,007,725		22,007,725		22,007,725
Market price (Class A Common Stock):
High	$	49.28	$	41.49	$	39.15	$	40.59
Low	$	31.22	$	37.10	$	30.74	$	30.05
Close	$	37.67	$	38.59	$	34.57	$	39.17
Market price (Class B Common Stock):
High	$	50.55	$	48.57	$	47.69	$	48.76
Low	$	36.87	$	42.48	$	41.10	$	37.96
Close	$	43.18	$	47.23	$	42.39	$	47.03

Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Oct. 31, 2020

Noncontrolling Interest [Abstract]

Schedule of Redeemable Noncontrolling Interest

The following table provides a rollforward of the mandatorily redeemable noncontrolling interest for the years ended October 31, 2020 and 2019:


(in millions)	Mandatorily Redeemable Noncontrolling Interest
Balance as of October 31, 2018	$	8.6
Current period mark to redemption value	(0.2)
Balance as of October 31, 2019	8.4
Current period mark to redemption value	—
Balance as of October 31, 2020	$	8.4

The following table provides the rollforward of the redeemable noncontrolling interest for the years ended October 31, 2020 and 2019:


(in millions)	Redeemable Noncontrolling Interest
Balance as of October 31, 2018	$	35.5
Current period mark to redemption value	(4.9)
Repurchase of redeemable shareholder interest	(11.9)
Redeemable noncontrolling interest share of income and other	2.3
Dividends to redeemable noncontrolling interest and other	0.3
Balance as of October 31, 2019	21.3
Current period mark to redemption value	(0.4)

Redeemable noncontrolling interest share of income and other	0.1
Dividends to redeemable noncontrolling interest and other	(1.0)
Balance as of October 31, 2020	$	20.0

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) employee in Thousands	12 Months Ended
	Oct. 31, 2020 USD ($) a employee Country asset_group class Block affiliate	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)	Nov. 01, 2019 USD ($)
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of countries in which company operates (country) \| Country	40
Approximate number of employees (employees) \| employee	16
Subsidiary, percent of revenue	1.00%
Subsidiary, percent of assets	1.00%
Allowance for trade accounts receivable	$ 9,400,000	$ 6,800,000
Investment in short term financial instruments, term	3 months
Losses on short term investments	$ 0	0	$ 0
Depreciation expense on properties, plants and equipment	169,100,000	149,000,000.0	107,500,000
Capitalized interest costs	$ 4,500,000	5,600,000	4,500,000
Measurement area of timber properties in the south eastern United States which are actively managed in acres \| a	244,000
Number of product classes (class) \| class	5
Self insurance reserve	$ 7,200,000	7,600,000
Liabilities for anticipated costs	$ 24,700,000	27,500,000
Number of affiliates in which company has equity interest \| affiliate	3
Translation adjustment functional to reporting currency, losses reclassified to earnings, net of tax	$ 4,200,000	$ 2,100,000	8,800,000
Lease liabilities	310,000,000.0
Adoption of ASU 2016-16		gef:Accountingstandardsupdate201616_1
Operating lease assets	$ 307,500,000	$ 0
Number of depletion blocks (block) \| Block	8
Long-term incentive plan, requisite service period	3 years
Timber Properties
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	20 years
United States
Basis Of Presentation And Significant Accounting Policies [Line Items]
Depletion expense, timber	$ 4,000,000.0	$ 3,700,000	$ 4,000,000.0
Rigid Industrial Packaging & Services
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of asset groups with assets held for sale (asset group) \| asset_group	1
Flexible Products & Services
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of asset groups with assets held for sale (asset group) \| asset_group	4
Land Management
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of asset groups with assets held for sale (asset group) \| asset_group	1
Minimum \| Software and Software Development Costs
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	3 years
Maximum \| Software and Software Development Costs
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	10 years
Accounting Standards Update 2018-11
Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease liabilities				$ 305,800,000
Operating lease assets				$ 301,200,000
Corporate and Other
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of asset groups with assets held for sale (asset group) \| asset_group	0

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Amortization Expense on Other Intangible Assets (Details)	12 Months Ended
	Oct. 31, 2020
Minimum \| Trade names
Finite-Lived Intangible Assets [Line Items]
Useful life	1 year
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years
Minimum \| Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	1 year
Minimum \| Other intangibles
Finite-Lived Intangible Assets [Line Items]
Useful life	1 year
Maximum \| Trade names
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life	25 years
Maximum \| Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years
Maximum \| Other intangibles
Finite-Lived Intangible Assets [Line Items]
Useful life	20 years

Basis of Presentation and Summary of Significant Accounting Policies - Depreciation on Properties, Plants and Equipment (Details)	12 Months Ended
	Oct. 31, 2020
Minimum \| Buildings
Property, Plant and Equipment [Line Items]
Useful life	30 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life	5 years
Maximum \| Buildings
Property, Plant and Equipment [Line Items]
Useful life	40 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life	15 years

Acquisitions and Divestitures - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
	Feb. 11, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 1,518.4	$ 1,517.8	$ 1,518.4	$ 1,517.8	$ 776.0
Proceeds from Divestiture of Businesses				80.9	$ 1.5	$ 1.4
2020 Divestiture
Business Acquisition [Line Items]
Cash acquired				79.6
Goodwill		35.6		35.6
Proceeds from Divestiture of Businesses				85.0
Preliminary adjustments		5.4		5.4
Caraustar
Business Acquisition [Line Items]
Payments to acquire business	$ 1,834.9
Deferred tax liability,		14.6	$ 37.4
Goodwill	752.5	$ 743.9		743.9
Cash consideration	$ 1,834.9			$ 1,834.9
Buildings \| Minimum
Business Acquisition [Line Items]
Useful life				30 years
Buildings \| Minimum \| Caraustar
Business Acquisition [Line Items]
Useful life				1 year
Buildings \| Maximum
Business Acquisition [Line Items]
Useful life				40 years
Buildings \| Maximum \| Caraustar
Business Acquisition [Line Items]
Useful life				20 years
Machinery and equipment \| Minimum
Business Acquisition [Line Items]
Useful life				5 years
Machinery and equipment \| Minimum \| Caraustar
Business Acquisition [Line Items]
Useful life				1 year
Machinery and equipment \| Maximum
Business Acquisition [Line Items]
Useful life				15 years
Machinery and equipment \| Maximum \| Caraustar
Business Acquisition [Line Items]
Useful life				15 years

Acquisitions and Divestitures - Schedule of Preliminary Valuation of Identifiable Assets Acquired and Liabilities Assumed (Details) - Caraustar - USD ($) $ in Millions		3 Months Ended	9 Months Ended	12 Months Ended
	Feb. 11, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020
Fair value of consideration transferred
Cash consideration	$ 1,834.9			$ 1,834.9
Cash consideration, Measurement Period Adjustments			$ 0.0
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	147.0	$ 147.0		147.0
Accounts receivable, Measurement Period Adjustments			0.0
Inventories	103.9	99.5		99.5
Inventories, Measurement Period Adjustments			(4.4)
Prepaid and other current assets	21.5	12.2		12.2
Prepaid and other current assets, Measurement Period Adjustments			(9.3)
Intangibles	717.1	725.5		725.5
Intangibles, Measurement Period Adjustments			8.4
Other long-term assets	1.3	5.6		5.6
Other long-term assets, Measurement Period Adjustments			4.3
Properties, plants and equipment	521.3	503.7		503.7
Properties, plants and equipment, Measurement Period Adjustments			(17.6)
Total assets acquired	1,512.1	1,493.5		1,493.5
Total assets acquired, Measurement Period Adjustments			(18.6)
Accounts payable	(99.5)	(99.5)		(99.5)
Accounts payable, Measurement Period Adjustments			0.0
Accrued payroll and employee benefits	(42.9)	(50.1)		(50.1)
Accrued payroll and employee benefits, Measurement Period Adjustments			(7.2)
Other current liabilities	(21.8)	(17.3)		(17.3)
Other current liabilities, Measurement Period Adjustments			4.5
Long-term deferred tax liability	(185.7)	(148.3)		(148.3)
Long-term deferred tax liability, Measurement Period Adjustments		14.6	37.4
Pension and post-retirement obligations	(67.1)	(67.1)		(67.1)
Pension and postretirement obligations, Measurement Period Adjustments			0.0
Other long-term liabilities	(12.7)	(20.2)		(20.2)
Other long-term liabilities, Measurement Period Adjustments			(7.5)
Total liabilities assumed	(429.7)	(402.5)		(402.5)
Total liabilities assumed, Measurement Period Adjustments			27.2
Total identifiable net assets	1,082.4	1,091.0		1,091.0
Total identifiable net assets, Measurement Period Adjustments			8.6
Goodwill	$ 752.5	$ 743.9		$ 743.9
Goodwill, Measurement Period Adjustments			$ (8.6)

Acquisitions and Divestitures - Schedule of Intangible Assets Assumed (Details) - Caraustar - USD ($) $ in Millions	Oct. 31, 2019	Oct. 31, 2020	Feb. 11, 2019
Business Acquisition [Line Items]
Preliminary Fair Value		$ 725.5	$ 717.1
Customer relationships
Business Acquisition [Line Items]
Preliminary Fair Value		708.0
Weighted Average Estimated Useful Life	15 years
Trademarks
Business Acquisition [Line Items]
Preliminary Fair Value		15.0
Weighted Average Estimated Useful Life	3 years
Other
Business Acquisition [Line Items]
Preliminary Fair Value		$ 2.5
Weighted Average Estimated Useful Life	4 years 7 months 6 days

- Summary of Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Goodwill [Roll Forward]
Goodwill beginning balance	$ 1,517.8	$ 776.0
Goodwill acquired	0.0	748.9
Goodwill allocated to divestitures and businesses held for sale	(36.3)	0.0
Goodwill adjustments	18.5	0.0
Currency translation	18.4	(7.1)
Goodwill ending balance	1,518.4	1,517.8
Accumulated goodwill impairment loss	63.3	63.3	$ 63.3
Rigid Industrial Packaging & Services
Goodwill [Roll Forward]
Goodwill beginning balance	731.7	716.5
Goodwill acquired	0.0	22.3
Goodwill allocated to divestitures and businesses held for sale	(0.7)
Goodwill adjustments	1.1	0.0
Currency translation	18.4	(7.1)
Goodwill ending balance	750.5	731.7
Accumulated goodwill impairment loss	13.0
Paper Packaging & Services
Goodwill [Roll Forward]
Goodwill beginning balance	786.1	59.5
Goodwill acquired		726.6
Goodwill allocated to divestitures and businesses held for sale	(35.6)	0.0
Goodwill adjustments	17.4	0.0
Currency translation	0.0	0.0
Goodwill ending balance	767.9	$ 786.1
Flexible Products & Services
Goodwill [Roll Forward]
Accumulated goodwill impairment loss	$ 50.3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Goodwill [Line Items]
Goodwill acquired	$ 0.0	$ 748.9
Accumulated goodwill impairment loss	63.3	63.3	$ 63.3
Increase (decrease) in gross intangible assets	0.4
Intangible assets adjustments	0.9
Amortization expense	69.1	53.2	$ 15.2
Future amortization expense, 2020	67.2
Future amortization expense, 2021	59.1
Future amortization expense, 2022	56.6
Future amortization expense, 2023	53.3
Future amortization expense, 2024	50.8
Value of infinite lived intangible trademarks and trade names related to Blagden Express, Closed-loop, Box Board and Fustiplast	13.5
Impairment of intangible assets, finite-lived	9.9
Goodwill adjustments	18.5	0.0
Tholu B.V.
Goodwill [Line Items]
Increase intangible assets	5.3
Caraustar
Goodwill [Line Items]
Increase intangible assets	5.9
Paper Packaging & Services
Goodwill [Line Items]
Goodwill acquired	0.0
Goodwill adjustments	2.8
Rigid Industrial Packaging & Services
Goodwill [Line Items]
Goodwill acquired	0.0	22.3
Accumulated goodwill impairment loss	13.0
Goodwill adjustments	$ 1.1	$ 0.0

Goodwill and Other Intangible Assets - Summary of Carrying Amount of Net Intangible Assets by Class (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	$ 13.5
Gross Intangible Assets	955.3	$ 954.9
Accumulated Amortization	240.0	178.4
Net Intangible Assets	715.3	776.5
Customer relationships
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	891.8	890.6
Accumulated Amortization	204.9	150.3
Net Intangible Assets	686.9	740.3
Trademarks and patents
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	27.4	27.0
Accumulated Amortization	14.9	9.3
Net Intangible Assets	12.5	17.7
Non-compete agreements
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	1.7	2.3
Accumulated Amortization	1.2	0.7
Net Intangible Assets	0.5	1.6
Other
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	20.9	21.9
Accumulated Amortization	19.0	18.1
Net Intangible Assets	1.9	3.8
Trademarks and patents
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	$ 13.5	$ 13.1

Restructuring Charges - Reconciliation of Beginning and Ended Restructuring Reserve Balances (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Restructuring Reserve [Roll Forward]
Beginning balance			$ 11.3	$ 4.4
Costs incurred and charged to expense	$ 11.9	$ 5.8	38.7	26.1	$ 18.6
Costs paid or otherwise settled			(28.4)	(19.2)
Ending balance	21.6	11.3	21.6	11.3	4.4
Employee Separation Costs
Restructuring Reserve [Roll Forward]
Beginning balance			9.5	4.2
Costs incurred and charged to expense			26.4	22.5	14.8
Costs paid or otherwise settled			(18.0)	(17.2)
Ending balance	17.9	9.5	17.9	9.5	4.2
Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance			1.8	0.2
Costs incurred and charged to expense			12.3	3.6	3.8
Costs paid or otherwise settled			(10.4)	(2.0)
Ending balance	$ 3.7	$ 1.8	$ 3.7	$ 1.8	$ 0.2

Restructuring Charges - Additional Information (Details) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2020 USD ($) Plant	Oct. 31, 2019 USD ($) Plant	Oct. 31, 2020 USD ($) employee Plant	Oct. 31, 2019 USD ($) employee Plant	Oct. 31, 2018 USD ($) employee Plant
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 11.9	$ 5.8	$ 38.7	$ 26.1	$ 18.6
Number of plants closed (plant) \| Plant	16		16
Number of employees severed (employee) \| employee			658	430	322
Amounts remaining to be incurred	$ 22.8		$ 22.8
Rigid Industrial Packaging & Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges			26.3
Amounts remaining to be incurred	16.2		16.2
Rigid Industrial Packaging and Services and Flexible Products and Services
Restructuring Cost and Reserve [Line Items]
Number of plants closed (plant) \| Plant		12		12	5
Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges			26.4	$ 22.5	$ 14.8
Employee Separation Costs \| Rigid Industrial Packaging & Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges			21.0
Amounts remaining to be incurred	10.6		10.6
Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges			12.3	$ 3.6	$ 3.8
Other Costs \| Rigid Industrial Packaging & Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges			5.3
Amounts remaining to be incurred	$ 5.6		$ 5.6

Restructuring Charges - Reconciliation of Total Amounts Expected to be Incurred from Open Restructuring Plans Anticipated to be Realized (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	$ 61.5		$ 61.5
Restructuring charges	11.9	$ 5.8	38.7	$ 26.1	$ 18.6
Amounts remaining to be incurred	22.8		22.8
Employee Separation Costs
Restructuring and Related Cost [Abstract]
Restructuring charges			26.4	22.5	14.8
Other restructuring costs
Restructuring and Related Cost [Abstract]
Restructuring charges			12.3	$ 3.6	$ 3.8
Rigid Industrial Packaging & Services
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	42.5		42.5
Restructuring charges			26.3
Amounts remaining to be incurred	16.2		16.2
Rigid Industrial Packaging & Services \| Employee Separation Costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	31.6		31.6
Restructuring charges			21.0
Amounts remaining to be incurred	10.6		10.6
Rigid Industrial Packaging & Services \| Other restructuring costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	10.9		10.9
Restructuring charges			5.3
Amounts remaining to be incurred	5.6		5.6
Flexible Products & Services
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	4.3		4.3
Restructuring charges			2.8
Amounts remaining to be incurred	1.5		1.5
Flexible Products & Services \| Employee Separation Costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	1.9		1.9
Restructuring charges			0.9
Amounts remaining to be incurred	1.0		1.0
Flexible Products & Services \| Other restructuring costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	2.4		2.4
Restructuring charges			1.9
Amounts remaining to be incurred	0.5		0.5
Paper Packaging & Services
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	14.7		14.7
Restructuring charges			9.6
Amounts remaining to be incurred	5.1		5.1
Paper Packaging & Services \| Employee Separation Costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	4.5		4.5
Restructuring charges			4.5
Amounts remaining to be incurred	0.0		0.0
Paper Packaging & Services \| Other restructuring costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	10.2		10.2
Restructuring charges			5.1
Amounts remaining to be incurred	$ 5.1		$ 5.1

Consolidation of Variable Interest Entities - Additional Information (Details)			12 Months Ended
	May 23, 2005 USD ($) a	Mar. 28, 2005 USD ($) a Agreement	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)	Oct. 31, 2017 USD ($)	Apr. 30, 2006 a	Jan. 31, 2006 a	May 31, 2005 USD ($)
Variable Interest Entity [Line Items]
Cash and cash equivalents			$ 105,900,000	$ 77,300,000	$ 94,200,000	$ 142,300,000
Number of purchase and sale agreements (agreement) \| Agreement		2
Acres of timberland (acre) \| a	35,000	56,000					5,700	15,300
Approximate value of sale agreement with Plum Creek Timberland	$ 51,000,000.0	$ 90,000,000.0
Pretax gain on sale	42,100,000
Purchase notes payable	50,900,000
Maximum amount of guarantee on purchase notes	$ 52,300,000
Restricted bank financial instruments under Buyer SPE			50,900,000	50,900,000
Interest income of Buyer SPE			2,400,000	2,400,000	2,400,000
Net income (loss) attributable to noncontrolling interests			15,500,000	23,200,000	20,100,000
Properties, plants and equipment, net			$ 1,526,900,000	1,690,300,000
Ownership percentage in Variable Interest Entity			0.00%
Trading Co.
Variable Interest Entity [Line Items]
Ownership percentage in Variable Interest Entity			51.00%
Asset Co.
Variable Interest Entity [Line Items]
Ownership percentage in Variable Interest Entity			49.00%
Global Textile
Variable Interest Entity [Line Items]
Ownership percentage in Variable Interest Entity			49.00%
Maximum
Variable Interest Entity [Line Items]
Committed capital contribution			$ 150,000,000.0
STA Timber
Variable Interest Entity [Line Items]
Debt instrument, principal outstanding			43,300,000	43,300,000
Interest expense			2,200,000	2,200,000	2,200,000
Monetization Notes \| STA Timber
Variable Interest Entity [Line Items]
Interest of senior notes									5.20%
Debt instrument, principal outstanding									$ 43,300,000
Paper Packaging JV \| Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Properties, plants and equipment, net			34,300,000	29,400,000
Net loss related to interest expense			(1,800,000)	(100,000)
Flexible Packaging JV
Variable Interest Entity [Line Items]
Net income (loss) attributable to noncontrolling interests			6,400,000	$ 12,400,000	$ 9,900,000
Third Party [Member] \| Maximum
Variable Interest Entity [Line Items]
Committed capital contribution			$ 150,000,000.0

Consolidation of Variable Interest Entities - Total Net Assets of Flexible Packaging JV (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2017
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 105.9	$ 77.3	$ 94.2	$ 142.3
Trade accounts receivable, less allowance of $0.7 in 2020 and $0.7 in 2019	636.6	664.2
Allowance of trade accounts receivable	9.4	6.8
Properties, plants and equipment, net	1,526.9	1,690.3
Total assets	5,510.9	5,426.7	$ 3,194.8
Accounts payable	450.7	435.2
Variable Interest Entity, Primary Beneficiary \| Flexible Packaging JV [Member]
Variable Interest Entity [Line Items]
Cash and cash equivalents	19.0	16.9
Trade accounts receivable, less allowance of $0.7 in 2020 and $0.7 in 2019	47.5	51.2
Inventories	36.0	46.4
Properties, plants and equipment, net	22.8	22.3
Other assets	20.3	29.3
Total assets	145.6	166.1
Accounts payable	29.4	28.9
Other liabilities	22.8	23.6
Total liabilities	52.2	52.5
Flexible Packaging JV
Variable Interest Entity [Line Items]
Allowance of trade accounts receivable	$ 0.7	$ 0.7

Consolidation of Variable Interest Entities - Schedule of Total Net Assets of Paper Packaging JV (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Variable Interest Entity [Line Items]
Trade accounts receivable, less allowance of $0.0 in 2020	$ 636.6	$ 664.2
Properties, plants and equipment, net	1,526.9	1,690.3
Total assets	5,510.9	5,426.7	$ 3,194.8
Accounts payable	450.7	435.2
Allowance for trade accounts receivable	9.4	6.8
Paper Packaging JV
Variable Interest Entity [Line Items]
Allowance for trade accounts receivable	0.0
Variable Interest Entity, Primary Beneficiary \| Paper Packaging JV
Variable Interest Entity [Line Items]
Trade accounts receivable, less allowance of $0.0 in 2020	5.5
Inventories	6.3
Properties, plants and equipment, net	34.3	$ 29.4
Other assets	0.6
Total assets	46.7
Accounts payable	5.2
Other liabilities	1.3
Total liabilities	$ 6.5

Long-Term Debt - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 2,469.7	$ 2,756.3
Less current portion	123.1	83.7
Less deferred financing costs	11.1	13.6
Long-term debt, net	2,335.5	2,659.0
2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Long-term debt	1,429.8
Senior Notes due 2027 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	495.1	494.3
Senior Notes due 2021 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	234.8	221.7
Other debt
Debt Instrument [Line Items]
Long-term debt	0.0	0.4
Secured Debt \| 2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Long-term debt	1,429.8	1,612.2
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	310.0	351.6
Domestic Line of Credit \| Accounts receivable credit facilities
Debt Instrument [Line Items]
Long-term debt	232.8
Less deferred financing costs	0.2
Revolving Credit Facility \| 2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Long-term debt	0.0	$ 76.1
Less current portion	123.1
Long-term debt, net	$ 1,306.7

Long-Term Debt - Credit Agreement (Details) $ in Millions		12 Months Ended
Long-Term Debt - Credit Agreement (Details) $ in Millions	Jul. 31, 2023	Oct. 31, 2019 USD ($)	Nov. 13, 2020 USD ($)	Oct. 31, 2020 USD ($)	Feb. 11, 2019 USD ($)
Debt Instrument [Line Items]
Leverage ratio				4.50
Amount outstanding under Prior Credit Agreement		$ 2,756.3		$ 2,469.7
Current portion of long-term debt		83.7		123.1
Long-term debt		2,659.0		2,335.5
Secured Term Loan A-1 Facility
Debt Instrument [Line Items]
Amount of debt					$ 1,275.0
Multicurrency Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity					600.0
U.S. Dollar Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity					200.0
2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Amount outstanding under Prior Credit Agreement				1,429.8
2019 Credit Agreement - Term Loans \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity					800.0
Amount outstanding under Prior Credit Agreement		$ 76.1		0.0
Current portion of long-term debt				123.1
Long-term debt				$ 1,306.7
Weighted average interest rate on the Prior Credit Agreement				2.68%
Actual interest rate on the Prior Credit Agreement				1.96%
Debt issuance costs				$ 6.1
2019 Credit Agreement - Term Loans \| Term Loan
Debt Instrument [Line Items]
Debt issuance costs				$ 8.5
Secured Term Loan A-2 Facility
Debt Instrument [Line Items]
Amount of debt					400.0
Senior Note due 2019
Debt Instrument [Line Items]
Amount of debt					$ 700.0
Secured Term Loan A-3 Facility \| Subsequent Event
Debt Instrument [Line Items]
Amount of debt			$ 225.0
Minimum
Debt Instrument [Line Items]
Leverage ratio, adjusted EBITDA		1.00
Interest coverage ratio, adjusted EBITDA		1.00
Maximum
Debt Instrument [Line Items]
Leverage ratio, adjusted EBITDA		4.75
Interest coverage ratio, adjusted EBITDA		3.00
Scenario, Forecast
Debt Instrument [Line Items]
Debt instrument covenant EBITDA	0.25
Scenario, Forecast \| Minimum
Debt Instrument [Line Items]
Leverage ratio, adjusted EBITDA	4.00

Long-Term Debt - Senior Notes (Details)	Oct. 31, 2020 USD ($)	Feb. 11, 2019 USD ($)	Jul. 15, 2011 EUR (€)
Senior Notes due 2027 \| Senior Notes
Debt Instrument [Line Items]
Amount of debt		$ 500,000,000.0
Interest of senior notes		6.50%
Debt issuance costs	$ 2,300,000
Senior Notes due 2021 \| Senior Notes
Debt Instrument [Line Items]
Amount of debt \| €			€ 200,000,000.0
Interest of senior notes			7.375%
Senior Note Three
Debt Instrument [Line Items]
Amount of debt		$ 700,000,000.0

Long-Term Debt - United States Trade Accounts Receivable Credit Facility (Details) - USD ($)	Oct. 31, 2020	Sep. 24, 2020	Oct. 31, 2019	Sep. 24, 2019
Debt Instrument [Line Items]
Less deferred financing costs	$ 11,100,000		$ 13,600,000
Long-term debt	2,469,700,000		2,756,300,000
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	310,000,000.0		$ 351,600,000
United States Trade Accounts Receivable Credit Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity		$ 250,000,000.0
United States Trade Accounts Receivable Credit Facility \| Domestic Line of Credit
Debt Instrument [Line Items]
Credit facility borrowing capacity				$ 275,000,000.0
Less deferred financing costs	200,000
Long-term debt	$ 232,800,000

Long-Term Debt - Additional Information (Details) € in Millions, $ in Millions	Oct. 31, 2020 USD ($)	Oct. 31, 2020 EUR (€)	Oct. 31, 2019 USD ($)
Debt Disclosure [Abstract]
Short-term borrowings	$ 28.4		$ 9.2
Annual maturities, long-term debt, 2020	667.9
Annual maturities, long-term debt, 2021	138.0
Annual maturities, long-term debt, 2022	138.0
Annual maturities, long-term debt, 2023	764.1
Annual maturities, long-term debt, 2024	18.7
Annual maturities, long-term debt, thereafter	747.7
Debt Instrument [Line Items]
Long-term debt	2,469.7		$ 2,756.3
European RPA
Debt Disclosure [Abstract]
Financing receivable maximum amount under receivable purchase agreement	117.5	€ 100.0
Debt Instrument [Line Items]
Financing receivable maximum amount under receivable purchase agreement	117.5	€ 100.0
European RPA \| International Trade Accounts Receivable Credit Facilities
Debt Instrument [Line Items]
Long-term debt	$ 77.2

Financial Instruments and Fair Value Measurements - Additional Information (Details)	3 Months Ended		12 Months Ended
	Oct. 31, 2020 USD ($) Derivative	Oct. 31, 2019 USD ($) Derivative	Oct. 31, 2020 USD ($) Derivative	Oct. 31, 2019 USD ($) asset_group Derivative	Oct. 31, 2018 USD ($) asset_group	Jul. 15, 2021 USD ($)	Mar. 06, 2018 USD ($)	Feb. 01, 2017 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate derivatives, term			5 years
Realized gains (losses) on interest rate derivatives related to statement of operations			$ (16,500,000)	$ 3,000,000.0	$ 1,800,000
Losses recorded under fair value contracts			(3,200,000)	4,600,000	(9,200,000)
Unrealized gain (loss) on foreign currency derivatives, net, before tax			(100,000)	700,000	1,900,000
Interest income (expense), net			(115,800,000)	(112,500,000)	(51,000,000.0)
Total	$ 1,600,000	$ 5,700,000	18,500,000	7,800,000	8,300,000
Long-lived assets	36,400,000	5,900,000	36,400,000	5,900,000	10,700,000
Long-lived assets, fair value	17,900,000	200,000	17,900,000	200,000	3,100,000
Impairment of Long Lived Assets			18,500,000	5,700,000	7,600,000
Goodwill allocated to businesses classified as held for sale				2,100,000
Impairment of assets held for sale					700,000
Goodwill impairment charge			0	0	0
Goodwill	1,518,400,000	1,517,800,000	1,518,400,000	1,517,800,000	$ 776,000,000.0
Assets Held And Used
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset groups classified as held and used (asset group) \| asset_group					1
2020 Divestiture
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Goodwill	35,600,000		35,600,000
Rigid Industrial Packaging & Services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets			900,000
Goodwill	$ 750,500,000	$ 731,700,000	750,500,000	$ 731,700,000	$ 716,500,000
Rigid Industrial Packaging & Services \| Asset And Liability Group Held-for-sale [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset groups classified as held and used (asset group) \| asset_group				1
Recognized amount of additional impairment related to assets and liabilities held for sale			0
Rigid Industrial Packaging & Services \| Property, Plant and Equipment [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets			4,200,000	$ 600,000	7,600,000
Paper Packaging & Services \| Property, Plant and Equipment [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets			12,500,000	$ 5,100,000
Flexible Products & Services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets			$ 900,000
Interest Rate Swap \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives held \| Derivative	4	6	4	6
Derivative notional amount	$ 1,300,000,000.0		$ 1,300,000,000.0
Derivative future amortization amount	200,000,000.0		200,000,000.0
Outstanding notional	600,000,000.0		600,000,000.0
Amount of debt					300,000,000.0			$ 300,000,000.0
Interest rate on debt								1.19%
Derivative loss			17,700,000
Interest Rate Swap \| Cash Flow Hedging \| Scenario, Forecast
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount						$ 200,000,000.0
Foreign Currency Forward Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	$ 268,600,000	$ 275,000,000.0	268,600,000	$ 275,000,000.0
Cross currency swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount							$ 100,000,000.0
Derivative, interest rate							2.35%
Interest income (expense), net			$ 2,400,000	2,400,000	1,600,000
Estimate of Fair Value Measurement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value, assets and liabilities		0		0	2,200,000
Reported Value Measurement
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair value, assets and liabilities		$ 2,100,000		$ 2,100,000	$ 2,900,000
London Interbank Offered Rate (LIBOR) \| Interest Rate Swap \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Weighted average interest rate	2.49%		2.49%
Weighted average interest rate on the Prior Credit Agreement	2.49%		2.49%
London Interbank Offered Rate (LIBOR) \| Interest Rate Swap \| Cash Flow Hedging \| Scenario, Forecast
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Weighted average interest rate						0.90%
Weighted average interest rate on the Prior Credit Agreement						0.90%

Financial Instruments and Fair Value Measurements - Estimated Fair Values for the Company's Senior Notes and Assets Held by Special Purpose Entities (Details) - Estimate of Fair Value Measurement - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Estimated Fair Value Of Financial Instruments [Line Items]
Assets held by special purpose entities estimated fair value	$ 50.9	$ 51.9
Senior Notes due 2021
Estimated Fair Value Of Financial Instruments [Line Items]
Estimated fair value of debt instruments	242.0	248.1
Senior Notes due 2027
Estimated Fair Value Of Financial Instruments [Line Items]
Estimated fair value of debt instruments	$ 524.4	$ 537.9

Financial Instruments and Fair Value Measurements - Summary of Quantitative about Significant Unobservable Inputs Used to Determine Fair Value of Impairment of Long-Lived Assets Held and Used (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Net Assets Held for Sale					$ 0.7
Impairment of Long Lived Assets			$ 18.5	$ 5.7	7.6
Total	$ 1.6	$ 5.7	18.5	7.8	$ 8.3
Land and building \| Indicative Bids \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Net Assets Held for Sale				2.1
Machinery and equipment \| Discounted Cash Flows, Indicative Bids \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Long Lived Assets			$ 18.5
Machinery and equipment \| Sales Value \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Long Lived Assets				$ 5.7

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended			36 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (shares)	0	0	0
Stock options exercised (shares)	0	0	0
Share based compensation expense	$ (1.2)	$ 12.7	$ 6.5
Number of shares forfeited	0	0	0
Long-term incentive plan, requisite service period	3 years
Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ (2.4)	$ 11.6	$ 5.3
Shares of restricted stock (shares)	153,275	291,520
Weighted average grant date fair value (usd per share)	$ 34.50	$ 39.83
2005 Outside Directors Equity Award Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 1.1	$ 1.1	$ 1.2
Shares of restricted stock (shares)	27,768	25,144
Weighted average grant date fair value (usd per share)	$ 38.89	$ 42.95
Class A Common Stock 2001 Plan \| Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 0.1	$ 0.1
Grants in the period (shares)		9,000
Performance Shares \| Scenario, Forecast \| 2020 Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock (shares)				258,519
Weighted average grant date fair value (usd per share)				$ 35.58
Award vesting period				3 years
Restricted Stock Units (RSUs) \| Scenario, Forecast \| 2020 Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Long-term incentive plan, requisite service period				3 years
Shares of restricted stock (shares)				147,325
Weighted average grant date fair value (usd per share)				$ 37.42
Share-based Payment Arrangement, Tranche One \| Class A Common Stock 2001 Plan \| Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting installments (shares)	3,000	3,000	3,000

Stock-Based Compensation - Key Assumptions (Details)	12 Months Ended
Stock-Based Compensation - Key Assumptions (Details)	Oct. 31, 2020 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum	1.59%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum	0.10%
Estimated volatility	46.40%
Performance Shares \| 2020 Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation date stock price	$ 40.59

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Current
Federal	$ (9.7)	$ 26.6	$ 74.0
State and local	3.3	6.1	8.0
Non-U.S.	53.0	35.9	36.1
Total Current	46.6	68.6	118.1
Deferred
Federal	7.9	2.1	(45.2)
State and local	10.2	0.9	0.8
Non-U.S.	(1.4)	(0.9)	(0.4)
Total Deferred	16.7	2.1	(44.8)
Total Current and Deferred income taxes	$ 63.3	$ 70.7	$ 73.3

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Operating Loss Carryforwards [Line Items]
Federal statutory rate	21.00%	21.00%	23.33%
Transition tax (benefit) expense	$ 0	$ (800,000)	$ 52,800,000
Undistributed foreign earnings	7,000,000.0	6,600,000
Income (loss) before income tax expense	186,100,000	$ 262,000,000.0	$ 299,800,000
Increase (decrease) in valuation allowances	$ 28,600,000
Percentage of rate impact in valuation allowance	(15.23%)	2.41%	5.65%
Net operating loss and other carryforwards	$ 179,300,000	$ 206,900,000
Operating loss carryforwards, U.S. Federal	30,600,000	49,400,000
Operating loss carryforwards, State	25,100,000	27,300,000
Operating loss carryforwards, Non-U.S.	123,600,000	130,200,000
Valuation allowance	146,400,000	175,000,000.0
Net deferred tax liability	327,900,000	297,100,000
Unrecognized tax benefits	36,000,000.0	38,800,000	$ 36,200,000
Accrued interest and penalties related to unrecognized tax benefits	7,200,000	6,300,000
Minimum
Operating Loss Carryforwards [Line Items]
Net decrease in unrecognized tax benefits for the next 12 months	0
Maximum
Operating Loss Carryforwards [Line Items]
Net decrease in unrecognized tax benefits for the next 12 months	10,700,000
Non-U.S.
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	160,600,000	132,100,000	102,300,000
Valuation allowance	136,900,000	142,300,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	25,500,000	129,900,000	$ 197,500,000
Valuation allowance	$ 9,500,000	$ 32,700,000

Income Taxes - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	23.33%
Impact of foreign tax rate differential	0.49%	0.10%	(0.57%)
State and local taxes, net of federal tax benefit	5.71%	1.99%	2.38%
Net impact of changes in valuation allowances	(15.23%)	2.41%	5.65%
Non-deductible write-off and impairment of goodwill and other intangible assets	4.02%	0.29%	0.06%
Unrecognized tax benefits	(0.75%)	(0.76%)	3.41%
Permanent book-tax differences	16.56%	(0.87%)	(4.03%)
Withholding taxes	5.28%	2.43%	1.84%
Tax Reform Act	0.00%	(0.19%)	(7.31%)
Other items, net	(3.07%)	0.58%	(0.33%)
Effective income tax rate	34.01%	26.98%	24.43%

Income Taxes - Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Deferred Tax Assets
Net operating loss and other carryforwards	$ 179.3	$ 206.9
Foreign tax credits	0.0	21.5
Pension liabilities	12.9	24.1
Incentive liabilities	8.2	12.0
Workers compensation accruals	10.0	12.1
Inventories	7.8	6.7
Operating lease liabilities	76.9	0.0
State income taxes	10.2	9.4
Other reserves	21.0	17.0
Deferred compensation	2.4	2.3
Other	28.5	24.2
Total Deferred Tax Assets	357.2	336.2
Valuation allowance	(146.4)	(175.0)
Net Deferred Tax Assets	210.8	161.2
Deferred Tax Liabilities
Properties, plants and equipment	158.1	152.7
Operating lease assets	76.9	0.0
Timberland transactions	74.2	74.2
Goodwill and other intangible assets	200.2	207.5
Other	29.3	23.9
Total Deferred Tax Liabilities	538.7	458.3
Net Deferred Tax Liability	$ 327.9	$ 297.1

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance of unrecognized tax benefit at November 1	$ 38.8	$ 36.2	$ 26.8
Increases in tax positions for prior years	10.1	5.1	7.8
Decreases in tax positions for prior years	(10.5)	(0.7)	(1.4)
Increases in tax positions for current years	2.6	4.3	8.0
Settlements with taxing authorities	0.0	(3.6)	0.0
Lapse in statute of limitations	(5.5)	(2.0)	(3.6)
Currency translation	0.5	(0.5)	(1.4)
Balance at October 31	$ 36.0	$ 38.8	$ 36.2

Post Retirement Benefit Plans - Additional Information (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2021 USD ($)	Oct. 31, 2020 USD ($) shares	Oct. 31, 2019 USD ($) shares	Oct. 31, 2018 USD ($)	Nov. 01, 2020 USD ($)	Dec. 31, 2019 plan
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions		$ 26.4
Expected Return on plan assets		4.64%	4.12%	4.53%
Amortization loss of prior service costs		$ 0.2
Fair value of plan assets		$ 1,002.1	$ 1,017.0
Subsequent Event
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, annuity					$ 100.0
Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Post Retirement Benefit Plan, Projected Benefit Obligation, (Increase) Decrease for Settlement	$ (8.4)
Decrease for remeasurement due to settlement	$ 20.8
Class A common stock
Defined Benefit Plan Disclosure [Line Items]
Common stock shares authorized (shares) \| shares		128,000,000	128,000,000
Class B common stock
Defined Benefit Plan Disclosure [Line Items]
Common stock shares authorized (shares) \| shares		69,120,000	69,120,000
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions		$ 22.4	$ 26.5	$ 85.5
Company's pension contributions paid directly by the Company		4.0
Company's estimated pension contributions		28.7
Settlement, gain (loss)		(0.3)		(1.3)
Aggregated accumulated benefit obligation		1,086.1	1,131.3
Fair value of plan assets		1,002.1	1,017.0	594.8
Income for its post-retirement benefit plans		$ 14.2	$ 13.3	20.6
Pension Plan \| Class A common stock
Defined Benefit Plan Disclosure [Line Items]
Common stock shares authorized (shares) \| shares		51,576	175,320
Pension Plan \| Class B common stock
Defined Benefit Plan Disclosure [Line Items]
Common stock shares authorized (shares) \| shares		30,930	111,270
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions paid directly by the Company		$ 0.9	$ 0.9	1.0
Company's estimated pension contributions		1.3
Aggregated accumulated benefit obligation		11.6
Income for its post-retirement benefit plans		(0.2)	(1.1)	(1.1)
Projected benefit obligation			12.2
United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions		44.3
Number of plans \| plan						2
Post Retirement Benefit Plan, Projected Benefit Obligation, (Increase) Decrease for Settlement		44.3
Settlement, gain (loss)		0.1		0.0
Aggregated accumulated benefit obligation		760.3	806.8
Fair value of plan assets		687.0	698.7	311.9
Income for its post-retirement benefit plans		12.5	12.5	15.2
United Kingdom \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement, gain (loss)		(0.4)	(1.3)	(1.3)
Lump sum payments		4.7
Aggregated accumulated benefit obligation		184.6	180.8
Fair value of plan assets		210.0	209.8	178.7
Income for its post-retirement benefit plans		(0.4)	(0.5)	3.8
Germany \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement, gain (loss)		0.0		0.0
Aggregated accumulated benefit obligation		41.0	42.6
Fair value of plan assets		0.0	0.0	0.0
Income for its post-retirement benefit plans		2.4	1.7	2.0
401 (k) Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Company contributions to 401(k) plans		$ 25.2	$ 21.8	$ 9.4

Post Retirement Benefit Plans - Number of Participants in Defined Benefit Plans (Details) - Pension Plan - Participant	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	2,226	2,455
Vested former employees and deferred members	3,385	5,236
Retirees and beneficiaries	6,526	6,462
Netherlands
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	63	63
Vested former employees and deferred members	105	97
Retirees and beneficiaries	405	414
United Kingdom
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	0	0
Vested former employees and deferred members	366	366
Retirees and beneficiaries	662	662
United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	2,127	2,351
Vested former employees and deferred members	2,788	4,643
Retirees and beneficiaries	5,138	5,074
Germany
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	36	41
Vested former employees and deferred members	82	86
Retirees and beneficiaries	267	258
Other International
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	0	0
Vested former employees and deferred members	44	44
Retirees and beneficiaries	54	54

Post Retirement Benefit Plans - Actuarial Assumptions Used to Measure Benefit Obligations (Details)	Oct. 31, 2020	Oct. 31, 2019
Retirement Benefits [Abstract]
Discount rate	2.48%	2.74%
Rate of compensation increase	2.91%	2.85%

Post Retirement Benefit Plans - Actuarial Assumptions Used to Measure Pension Costs (Details) (Details)	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Retirement Benefits [Abstract]
Discount rate	2.74%	3.48%	3.01%
Expected Return on plan assets	4.64%	4.12%	4.53%
Rate of compensation increase	2.85%	2.85%	2.85%

Post Retirement Benefit Plans - Components of Net Periodic Cost for Postretirement Benefits (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 12.8	$ 14.1	$ 12.3
Interest cost	25.9	31.0	18.9
Expected return on plan assets	(37.9)	(38.8)	(25.5)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(0.1)	(0.1)	(0.2)
Recognized net actuarial loss	13.2	7.1	11.0
Other Adjustments			(2.8)
Special Events
Settlement	0.3		1.3
Net periodic pension (benefit) cost	14.2	13.3	20.6
United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	11.5	12.7	10.8
Interest cost	22.4	25.4	13.2
Expected return on plan assets	(31.4)	(30.5)	(16.8)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(0.1)	(0.1)	(0.1)
Recognized net actuarial loss	10.2	5.0	8.1
Other Adjustments			0.0
Special Events
Settlement	(0.1)		0.0
Net periodic pension (benefit) cost	12.5	12.5	15.2
Germany
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.4	0.3	0.4
Interest cost	0.2	0.5	0.5
Expected return on plan assets	0.0	0.0	0.0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0.0	0.0	0.0
Recognized net actuarial loss	1.8	0.9	1.1
Other Adjustments			0.0
Special Events
Settlement	0.0		0.0
Net periodic pension (benefit) cost	2.4	1.7	2.0
United Kingdom
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.5	0.5	0.5
Interest cost	2.7	3.9	4.0
Expected return on plan assets	(5.2)	(6.2)	(6.5)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0.1	0.1	0.0
Recognized net actuarial loss	1.1	1.2	1.7
Other Adjustments			(2.8)
Special Events
Settlement	0.4	1.3	1.3
Net periodic pension (benefit) cost	(0.4)	(0.5)	3.8
Netherlands
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.3	0.5	0.5
Interest cost	0.3	0.9	0.9
Expected return on plan assets	(0.7)	(1.3)	(1.4)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(0.1)	(0.1)	(0.1)
Recognized net actuarial loss	0.0	0.0	0.0
Other Adjustments			0.0
Special Events
Settlement	0.0		0.0
Net periodic pension (benefit) cost	(0.2)	0.0	(0.1)
Other International
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1	0.1	0.1
Interest cost	0.3	0.3	0.3
Expected return on plan assets	(0.6)	(0.8)	(0.8)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0.0	0.0	0.0
Recognized net actuarial loss	0.1	0.0	0.1
Other Adjustments			0.0
Special Events
Settlement	0.0		0.0
Net periodic pension (benefit) cost	$ (0.1)	$ (0.4)	$ (0.3)

Post Retirement Benefit Plans - Change in Projected Benefit Obligation (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Change in benefit obligation:
Benefit obligation at beginning of year	$ 1,158.7	$ 662.4
Service cost	12.8	14.1	$ 12.3
Interest cost	25.9	31.0	18.9
Plan participant contributions	0.2	0.2
Expenses paid from assets	(3.4)	(5.9)
Actuarial loss	17.4	131.0
Foreign currency effect	8.6	(1.8)
Benefits paid	(109.9)	(61.6)
Acquisitions		389.3
Benefit obligation at end of year	1,110.3	1,158.7	662.4
United States
Change in benefit obligation:
Benefit obligation at beginning of year	831.0	351.9
Service cost	11.5	12.7	10.8
Interest cost	22.4	25.4	13.2
Plan participant contributions	0.0	0.0
Expenses paid from assets	(2.6)	(5.1)
Actuarial loss	14.6	105.5
Foreign currency effect	0.0	0.0
Benefits paid	(94.9)	(48.7)
Acquisitions		389.3
Benefit obligation at end of year	782.0	831.0	351.9
Germany
Change in benefit obligation:
Benefit obligation at beginning of year	44.1	38.1
Service cost	0.4	0.3	0.4
Interest cost	0.2	0.5	0.5
Plan participant contributions	0.0	0.0
Expenses paid from assets	0.0	0.0
Actuarial loss	(3.5)	7.4
Foreign currency effect	2.3	(0.9)
Benefits paid	(1.4)	(1.3)
Acquisitions		0.0
Benefit obligation at end of year	42.1	44.1	38.1
United Kingdom
Change in benefit obligation:
Benefit obligation at beginning of year	180.8	176.3
Service cost	0.5	0.5	0.5
Interest cost	2.7	3.9	4.0
Plan participant contributions	0.0	0.0
Expenses paid from assets	(0.9)	(0.7)
Actuarial loss	7.6	6.0
Foreign currency effect	1.7	1.1
Benefits paid	(7.8)	(6.3)
Acquisitions		0.0
Benefit obligation at end of year	184.6	180.8	176.3
Netherlands
Change in benefit obligation:
Benefit obligation at beginning of year	91.3	85.4
Service cost	0.3	0.5	0.5
Interest cost	0.3	0.9	0.9
Plan participant contributions	0.2	0.2
Expenses paid from assets	0.2	0.0
Actuarial loss	(1.6)	11.0
Foreign currency effect	5.0	(1.9)
Benefits paid	(4.8)	(4.8)
Acquisitions		0.0
Benefit obligation at end of year	90.9	91.3	85.4
Other International
Change in benefit obligation:
Benefit obligation at beginning of year	11.5	10.7
Service cost	0.1	0.1	0.1
Interest cost	0.3	0.3	0.3
Plan participant contributions	0.0	0.0
Expenses paid from assets	(0.1)	(0.1)
Actuarial loss	0.3	1.1
Foreign currency effect	(0.4)	(0.1)
Benefits paid	(1.0)	(0.5)
Acquisitions		0.0
Benefit obligation at end of year	$ 10.7	$ 11.5	$ 10.7

Post Retirement Benefit Plans - Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Plan assets	$ 1,002.1	$ 1,017.0
Pension Plan
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	1,110.3	1,158.7	$ 662.4
Accumulated benefit obligation	1,086.1	1,131.3
Plan assets	1,002.1	1,017.0	594.8
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	812.2	860.9
Plans with accumulated benefit obligations in excess of plan assets, Plan assets	697.2	709.7
Pension Plan \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	782.0	831.0	351.9
Accumulated benefit obligation	760.3	806.8
Plan assets	687.0	698.7	311.9
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	760.3	806.8
Plans with accumulated benefit obligations in excess of plan assets, Plan assets	687.2	698.9
Pension Plan \| Germany
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	42.1	44.1	38.1
Accumulated benefit obligation	41.0	42.6
Plan assets	0.0	0.0	0.0
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	41.0	42.6
Plans with accumulated benefit obligations in excess of plan assets, Plan assets	0.0	0.0
Pension Plan \| United Kingdom
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	184.6	180.8	176.3
Accumulated benefit obligation	184.6	180.8
Plan assets	210.0	209.8	178.7
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	0.0	0.0
Plans with accumulated benefit obligations in excess of plan assets, Plan assets	0.0	0.0
Pension Plan \| Netherlands
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	90.9	91.3	85.4
Accumulated benefit obligation	89.3	89.6
Plan assets	92.0	94.5	90.6
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	0.0	0.0
Plans with accumulated benefit obligations in excess of plan assets, Plan assets	0.0	0.0
Pension Plan \| Other International
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	10.7	11.5	10.7
Accumulated benefit obligation	10.9	11.5
Plan assets	13.1	14.0	$ 13.6
Plans with accumulated benefit obligation in excess of plan assets, accumulated benefit obligation	10.9	11.5
Plans with accumulated benefit obligations in excess of plan assets, Plan assets	$ 10.0	$ 10.8

Post Retirement Benefit Plans - Future Benefit Payments Next Five Years and Thereafter (Details) - Pension Plan $ in Millions	Oct. 31, 2020 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2021	$ 63.3
2022	62.8
2023	64.7
2024	65.5
2025	63.6
2026-2030	$ 313.0

Post Retirement Benefit Plans - Weighted Average Asset Allocations at Measurement Date and Target Asset Allocations (Details)	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Total, Target	100.00%	100.00%
Total, Actual		100.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Total, Target	21.00%	29.00%
Total, Actual		22.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Total, Target	63.00%	55.00%
Total, Actual		61.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Total, Target	16.00%	16.00%
Total, Actual		17.00%

Post Retirement Benefit Plans - Fair Value of the Pension Plans Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Change in plan assets:
Fair value of plan assets at beginning of year	$ 1,017.0
Fair value of plan assets at end of year	1,002.1	$ 1,017.0
Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	1,017.0	594.8
Actual return on plan assets	65.4	140.1
Expenses paid	(3.4)	(5.9)
Plan participant contributions	0.2	0.2
Foreign currency impact	6.4	(0.7)
Employer contributions	22.4	22.7
Benefits paid out of plan	(105.9)	(57.8)
Acquisitions		323.6
Fair value of plan assets at end of year	1,002.1	1,017.0
United States \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	698.7	311.9
Actual return on plan assets	62.2	93.4
Expenses paid	(2.6)	(5.1)
Plan participant contributions	0.0	0.0
Foreign currency impact	0.0	0.0
Employer contributions	21.0	21.0
Benefits paid out of plan	(92.3)	(46.1)
Acquisitions		323.6
Fair value of plan assets at end of year	687.0	698.7
Germany \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	0.0	0.0
Actual return on plan assets	0.0	0.0
Expenses paid	0.0	0.0
Plan participant contributions	0.0	0.0
Foreign currency impact	0.0	0.0
Employer contributions	0.0	0.0
Benefits paid out of plan	0.0	0.0
Acquisitions		0.0
Fair value of plan assets at end of year	0.0	0.0
United Kingdom \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	209.8	178.7
Actual return on plan assets	4.6	35.2
Expenses paid	(0.9)	(0.7)
Plan participant contributions	0.0	0.0
Foreign currency impact	1.9	1.3
Employer contributions	2.4	1.6
Benefits paid out of plan	(7.8)	(6.3)
Acquisitions		0.0
Fair value of plan assets at end of year	210.0	209.8
Netherlands \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	94.5	90.6
Actual return on plan assets	(2.1)	10.7
Expenses paid	0.2	0.0
Plan participant contributions	0.2	0.2
Foreign currency impact	5.0	(2.1)
Employer contributions	(1.0)	0.0
Benefits paid out of plan	(4.8)	(4.9)
Acquisitions		0.0
Fair value of plan assets at end of year	92.0	94.5
Other International \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	14.0	13.6
Actual return on plan assets	0.7	0.8
Expenses paid	(0.1)	(0.1)
Plan participant contributions	0.0	0.0
Foreign currency impact	(0.5)	0.1
Employer contributions	0.0	0.1
Benefits paid out of plan	(1.0)	(0.5)
Acquisitions		0.0
Fair value of plan assets at end of year	$ 13.1	$ 14.0

Post Retirement Benefit Plans - Amounts Recognized in Consolidated Financial Statements - in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	$ 149.7	$ 171.8
Unrecognized prior service cost (credit)	0.9	0.8
Accumulated other comprehensive loss (gain) - Pre-tax	150.6	172.6	$ 150.4
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	29.5	35.4
Accrued benefit liability	(137.7)	(177.0)
Accumulated other comprehensive loss (gain)	150.6	172.6	$ 150.4
Net amount recognized	42.4	31.0
United States
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	94.1	120.5
Unrecognized prior service cost (credit)	(0.8)	(1.0)
Accumulated other comprehensive loss (gain) - Pre-tax	93.3	119.5
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	0.0	0.0
Accrued benefit liability	(94.7)	(132.2)
Accumulated other comprehensive loss (gain)	93.3	119.5
Net amount recognized	(1.4)	(12.7)
Germany
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	14.8	19.2
Unrecognized prior service cost (credit)	0.0	0.0
Accumulated other comprehensive loss (gain) - Pre-tax	14.8	19.2
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	0.0	0.0
Accrued benefit liability	(42.1)	(44.1)
Accumulated other comprehensive loss (gain)	14.8	19.2
Net amount recognized	(27.3)	(24.9)
United Kingdom
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	32.4	25.3
Unrecognized prior service cost (credit)	3.2	3.3
Accumulated other comprehensive loss (gain) - Pre-tax	35.6	28.6
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	25.3	29.0
Accrued benefit liability	0.0	0.0
Accumulated other comprehensive loss (gain)	35.6	28.6
Net amount recognized	60.9	57.6
Netherlands
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	4.5	3.1
Unrecognized prior service cost (credit)	(1.5)	(1.5)
Accumulated other comprehensive loss (gain) - Pre-tax	3.0	1.6
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	1.1	3.2
Accrued benefit liability	0.0	0.0
Accumulated other comprehensive loss (gain)	3.0	1.6
Net amount recognized	4.1	4.8
Other International
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	3.9	3.7
Unrecognized prior service cost (credit)	0.0	0.0
Accumulated other comprehensive loss (gain) - Pre-tax	3.9	3.7
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	3.1	3.2
Accrued benefit liability	(0.9)	(0.7)
Accumulated other comprehensive loss (gain)	3.9	3.7
Net amount recognized	$ 6.1	$ 6.2

- Post Retirement Benefit Plans - Amounts Recognized in Consolidated Financial Statements - Changes in Accumulated Other Comprehensive (Income) or Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plan, Changes in Accumulated Other Comprehensive (Income) Loss [Roll Forward]
Accumulated other comprehensive loss at beginning of year	$ 172.6	$ 150.4
Increase or (decrease) in accumulated other comprehensive loss
Net prior service benefit amortized	0.1	0.1
Net loss amortized	(13.2)	(7.1)
Loss recognized due to settlement	(0.3)	0.0
Liability loss (gain)	17.4	131.0
Asset (gain) loss	(27.4)	(101.3)
Increase (decrease) in accumulated other comprehensive loss	(23.4)	22.7
Foreign currency impact	1.4	(0.5)
Accumulated other comprehensive loss at year end	$ 150.6	$ 172.6

Contingent Liabilities and Environmental Reserves - Additional Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2020 USD ($) facility	Oct. 31, 2019 USD ($)	Mar. 03, 2016 USD ($)
Site Contingency [Line Items]
Environmental liability reserves	$ 20.2	$ 18.7	$ 1,380.0
Diamond Alkali
Site Contingency [Line Items]
Environmental liability reserves	11.1
European Drum Facilities
Site Contingency [Line Items]
Environmental liability reserves	3.3	3.3
Life Cycle Management and Recycling Facilities
Site Contingency [Line Items]
Environmental liability reserves	0.1	0.1
Sites Owned by Others
Site Contingency [Line Items]
Environmental liability reserves	0.5	0.3
Paper Packaging & Services
Site Contingency [Line Items]
Environmental liability reserves	3.1	2.0
Other Facilities
Site Contingency [Line Items]
Environmental liability reserves	$ 2.1	$ 1.8
Container Life Cycle Management LLC \| Flexible Packaging JV
Site Contingency [Line Items]
Number of reconditioning facilities subject to litigation \| facility	3

Earnings Per Share - Additional Information (Details) - shares	12 Months Ended			24 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Oct. 31, 2019
Class of Stock [Line Items]
Antidilutive stock option (shares)	0	0	0
Class A common stock
Class of Stock [Line Items]
Percentage of shares outstanding used in two class method calculation	40.00%
Class B common stock
Class of Stock [Line Items]
Percentage of shares outstanding used in two class method calculation	60.00%
Board of Director Authorized
Class of Stock [Line Items]
Number of shares authorized to be purchased (shares)	4,703,487	4,703,487		4,703,487
Stock Repurchase Committee Authorized
Class of Stock [Line Items]
Repurchase of common stock (shares)				0

Earnings Per Share - Computation of Class Based Basic and Diluted Earnings Per Share (Details)	12 Months Ended
	Oct. 31, 2020
Class A common stock
Class of Stock [Line Items]
Basic and Diluted EPS, class based	40.00%
Class B common stock
Class of Stock [Line Items]
Basic and Diluted EPS, class based	60.00%

Earnings Per Share - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Numerator for basic and diluted EPS
Net income attributable to Greif	$ 44.4	$ 20.7	$ 11.4	$ 32.3	$ 65.0	$ 62.7	$ 13.6	$ 29.7	$ 108.8	$ 171.0	$ 209.4
Cash dividends									(104.3)	(104.0)	(100.0)
Undistributed net income (loss) attributable to Greif, Inc.									$ 4.5	$ 67.0	$ 109.4
Class A common stock
Denominator for basic EPS
Denominator for basic EPS (shares)	26,441,986	26,441,986	26,386,439	26,260,943	26,257,943	26,257,943	26,250,460	25,991,433	26,382,838	26,189,445	25,915,887
Denominator for diluted EPS
Denominator for diluted EPS (shares)	26,512,331	26,442,595	26,386,439	26,414,280	26,360,148	26,257,943	26,255,112	25,991,433	26,390,643	26,215,111	25,965,856
Basic:
EPS Basic (usd per share)	$ 0.74	$ 0.35	$ 0.19	$ 0.55	$ 1.09	$ 1.06	$ 0.23	$ 0.51	$ 1.83	$ 2.89	$ 3.56
EPS Diluted
EPS Diluted (usd per share)	$ 0.74	$ 0.35	$ 0.19	$ 0.55	$ 1.09	$ 1.06	$ 0.23	$ 0.51	$ 1.83	$ 2.89	$ 3.55
Class B common stock
Denominator for basic EPS
Denominator for basic EPS (shares)	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,000,000.0	22,000,000.0	22,000,000.0
Denominator for diluted EPS
Denominator for diluted EPS (shares)	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,000,000.0	22,000,000.0	22,000,000.0
Basic:
EPS Basic (usd per share)	$ 1.12	$ 0.52	$ 0.29	$ 0.81	$ 1.65	$ 1.59	$ 0.34	$ 0.75	$ 2.74	$ 4.33	$ 5.33
EPS Diluted
EPS Diluted (usd per share)	$ 1.12	$ 0.52	$ 0.29	$ 0.81	$ 1.65	$ 1.59	$ 0.34	$ 0.75	$ 2.74	$ 4.33	$ 5.33

Earnings Per Share - Summarization of Company's Class A and Class B Common and Treasury Shares (Details) - shares	Oct. 31, 2020	Oct. 31, 2019
Class A common stock
Class of Stock [Line Items]
Common stock shares authorized (shares)	128,000,000	128,000,000
Issued Shares (shares)	42,281,920	42,281,920
Outstanding Shares (shares)	26,441,986	26,257,943
Treasury Shares (shares)	15,839,934	16,023,977
Class B common stock
Class of Stock [Line Items]
Common stock shares authorized (shares)	69,120,000	69,120,000
Issued Shares (shares)	34,560,000	34,560,000
Outstanding Shares (shares)	22,007,725	22,007,725
Treasury Shares (shares)	12,552,275	12,552,275

Earnings Per Share - Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share (Details) - shares	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Class A common stock
Class of Stock [Line Items]
Basic (shares)	26,441,986	26,441,986	26,386,439	26,260,943	26,257,943	26,257,943	26,250,460	25,991,433	26,382,838	26,189,445	25,915,887
Assumed conversion of stock options and unvested shares (shares)									7,805	25,666	49,969
Diluted (shares)	26,512,331	26,442,595	26,386,439	26,414,280	26,360,148	26,257,943	26,255,112	25,991,433	26,390,643	26,215,111	25,965,856
Class B common stock
Class of Stock [Line Items]
Basic (shares)	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,000,000.0	22,000,000.0	22,000,000.0
Diluted (shares)	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,000,000.0	22,000,000.0	22,000,000.0
Basic and diluted shares (shares)									22,007,725	22,007,725	22,007,725

EQUITY EARNINGS OF UNCONSOLIDATED AFFILIATES, NET OF TAX (Detail) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018	Mar. 31, 2025
Schedule of Equity Method Investments [Line Items]
Purchases of equity method investments	$ 3.6	$ 0.0	$ 0.0
Centurion Container LLC
Schedule of Equity Method Investments [Line Items]
Purchases of equity method investments	$ 3.6
Option to acquirer ownership interest	80.00%
Centurion Container LLC \| Scenario, Forecast
Schedule of Equity Method Investments [Line Items]
Option to acquirer ownership interest				100.00%

LEASES - Additional Information (Details)	12 Months Ended
LEASES - Additional Information (Details)	Oct. 31, 2020
Minimum
Leases [Abstract]
Term of contract	1 year
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Leases [Abstract]
Term of contract	22 years
Lessee, Lease, Description [Line Items]
Term of contract	22 years

LEASES - Lease Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Leases [Abstract]
Operating lease assets	$ 307.5	$ 0.0
Finance lease assets	4.6
Total lease assets	312.1
Current portion of operating lease liabilities	52.3	0.0
Current finance lease liabilities	1.7
Total current lease liabilities	54.0
Non-current operating lease liabilities	257.7	$ 0.0
Non-current finance lease liabilities	2.9
Total non-current lease liabilities	260.6
Total lease liabilities	$ 314.6

LEASES - Components of Lease Expense (Details) $ in Millions	3 Months Ended
	Oct. 31, 2020 USD ($)
Leases [Abstract]
Operating lease cost	$ 67.0
Finance lease cost	1.4
Variable lease cost*	25.4
Total lease cost	$ 93.8

LEASES - Maturities of Operating and Financing Lease Liabilities (Details) $ in Millions	Oct. 31, 2020 USD ($)
Operating Leases
2021	$ 65.6
2022	63.1
2023	55.1
2024	47.4
2025	38.8
Thereafter	171.8
Total lease payments	441.8
Less: Interest	(131.8)
Lease liabilities	310.0
Finance Leases
2021	1.4
2022	1.4
2023	1.1
2024	0.9
2025	0.5
Thereafter	0.3
Total lease payments	5.6
Less: Interest	(1.0)
Lease liabilities	4.6
Total expected payments
2021	67.0
2022	64.5
2023	56.2
2024	48.3
2025	39.3
Thereafter	172.1
Total lease payments	447.4
Less: Interest	(132.8)
Lease liabilities	$ 314.6

LEASES - Other Information (Details)	Oct. 31, 2020
Weighted-average remaining lease term (years):
Operating leases	11 years 1 month 6 days
Finance leases	3 years 7 months 6 days
Weighted-average discount rate:
Operating leases	3.63%
Finance leases	3.32%

LEASES - Cash Flow (Details) $ in Millions	3 Months Ended
LEASES - Cash Flow (Details) $ in Millions	Oct. 31, 2020 USD ($)
Leases [Abstract]
Operating cash flows used for operating leases	$ 69.4
Financing cash flows used for finance leases	1.3
Leased assets obtained in exchange for new operating lease liabilities	67.4
Leased assets obtained in exchange for new finance lease liabilities	$ 0.4

LEASES - Information Related to Company's Rent Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Leases [Abstract]
Rent Expense	$ 86.2	$ 47.1	$ 41.0

LEASES - Company's Minimum Rent Commitments Under Operating and Capital Leases (Details) $ in Millions	Oct. 31, 2019 USD ($)
Operating Leases
2021	$ 64.8
2022	57.0
2023	48.7
2024	40.1
2025	31.6
Thereafter	117.5
Total	359.7
Capital Leases
2021	1.8
2022	1.6
2023	1.3
2024	1.0
2025	0.6
Thereafter	0.3
Total	$ 6.6

Business Segment Information - Additional Information (Details)	12 Months Ended
	Oct. 31, 2020 a Segment
Segment Reporting Information [Line Items]
Number of operating segments	8
Number of reportable business segment	4
Measurement area of timber properties in the south eastern United States which are actively managed in acres \| a	244,000
Rigid Industrial Packaging & Services
Segment Reporting Information [Line Items]
Number of operating segments	5

Business Segment Information - Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 1,161.3	$ 1,083.0	$ 1,158.3	$ 1,112.4	$ 1,232.1	$ 1,252.6	$ 1,213.3	$ 897.0	$ 4,515.0	$ 4,595.0	$ 3,873.8
Rigid Industrial Packaging & Services
Segment Reporting Information [Line Items]
Net sales									2,298.9	2,490.6
Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales									1,916.9	1,780.0
Flexible Products & Services
Segment Reporting Information [Line Items]
Net sales									272.9	297.5
Land Management
Segment Reporting Information [Line Items]
Net sales									26.3	26.9
United States
Segment Reporting Information [Line Items]
Net sales									2,756.9	2,727.7
United States \| Rigid Industrial Packaging & Services
Segment Reporting Information [Line Items]
Net sales									814.0	906.3
United States \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales									1,888.4	1,758.8
United States \| Flexible Products & Services
Segment Reporting Information [Line Items]
Net sales									28.2	35.7
United States \| Land Management
Segment Reporting Information [Line Items]
Net sales									26.3	26.9
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Net sales									1,288.8	1,350.4
Europe, Middle East and Africa \| Rigid Industrial Packaging & Services
Segment Reporting Information [Line Items]
Net sales									1,074.3	1,118.0
Europe, Middle East and Africa \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales									0.0	0.0
Europe, Middle East and Africa \| Flexible Products & Services
Segment Reporting Information [Line Items]
Net sales									214.5	232.4
Europe, Middle East and Africa \| Land Management
Segment Reporting Information [Line Items]
Net sales									0.0	0.0
Asia Pacific and Other Americas
Segment Reporting Information [Line Items]
Net sales									469.3	516.9
Asia Pacific and Other Americas \| Rigid Industrial Packaging & Services
Segment Reporting Information [Line Items]
Net sales									410.6	466.3
Asia Pacific and Other Americas \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales									28.5	21.2
Asia Pacific and Other Americas \| Flexible Products & Services
Segment Reporting Information [Line Items]
Net sales									30.2	29.4
Asia Pacific and Other Americas \| Land Management
Segment Reporting Information [Line Items]
Net sales									$ 0.0	$ 0.0

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Business Segment Information - Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Operating profit:
Total operating profit (loss)	$ 304.9	$ 399.1	$ 370.5
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	242.5	206.1	126.9
Capital expenditures:
Total capital expenditures	130.0	156.9	139.1
Assets By Business Segment [Abstract]
Total assets	5,510.9	5,426.7	3,194.8
Rigid Industrial Packaging & Services
Operating profit:
Total operating profit (loss)	209.9	179.6	183.2
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	78.9	76.3	81.2
Paper Packaging & Services
Operating profit:
Total operating profit (loss)	71.0	184.3	158.3
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	153.5	119.3	34.2
Flexible Products & Services
Operating profit:
Total operating profit (loss)	15.5	25.3	19.4
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	5.6	6.2	6.9
Land Management
Operating profit:
Total operating profit (loss)	8.5	9.9	9.6
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	4.5	4.3	4.6
Operating Segments
Capital expenditures:
Total capital expenditures	117.4	139.8	120.1
Assets By Business Segment [Abstract]
Total assets	5,211.4	5,189.5	2,938.4
Operating Segments \| Rigid Industrial Packaging & Services
Capital expenditures:
Total capital expenditures	48.3	53.6	76.8
Assets By Business Segment [Abstract]
Total assets	2,189.7	2,006.3	1,963.0
Operating Segments \| Paper Packaging & Services
Capital expenditures:
Total capital expenditures	61.4	81.2	39.2
Assets By Business Segment [Abstract]
Total assets	2,524.3	2,686.3	474.3
Operating Segments \| Flexible Products & Services
Capital expenditures:
Total capital expenditures	7.5	4.8	3.7
Assets By Business Segment [Abstract]
Total assets	148.8	148.2	153.9
Operating Segments \| Land Management
Capital expenditures:
Total capital expenditures	0.2	0.2	0.4
Assets By Business Segment [Abstract]
Total assets	348.6	348.7	347.2
Corporate and Other
Capital expenditures:
Total capital expenditures	12.6	17.1	19.0
Assets By Business Segment [Abstract]
Total assets	$ 299.5	$ 237.2	$ 256.4

Business Segment Information - Properties, Plants and Equipment, Net by Geographical Area (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Properties, plants and equipment, net
Total properties, plants and equipment, net	$ 1,834.4	$ 1,690.3	$ 1,191.9
United States
Properties, plants and equipment, net
Total properties, plants and equipment, net	1,345.8	1,295.8	796.3
Europe, Middle East, and Africa
Properties, plants and equipment, net
Total properties, plants and equipment, net	377.6	277.1	276.9
Asia Pacific and other Americas
Properties, plants and equipment, net
Total properties, plants and equipment, net	$ 111.0	$ 117.4	$ 118.7

Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	$ 1,133.1
Ending balance, value	1,152.2	$ 1,133.1
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(298.0)	(292.8)
Other Comprehensive Income (Loss)	3.1	(5.2)
Ending balance, value	(294.9)	(298.0)
Derivative financial instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(12.7)
Other Comprehensive Income (Loss)	(12.0)
Ending balance, value	(24.7)	(12.7)
Derivative Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(12.7)	13.4
Other Comprehensive Income (Loss)		(26.1)
Ending balance, value		(12.7)
Minimum Pension Liability Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(123.0)	(97.7)
Other Comprehensive Income (Loss)	15.1	(25.3)
Ending balance, value	(107.9)	(123.0)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(433.7)	(377.1)
Other Comprehensive Income (Loss)	6.2	(56.6)
Ending balance, value	$ (427.5)	$ (433.7)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Quarterly Financial Data (Unaudited) - Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2019	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Quarterly Results Of Operations [Line Items]
Net sales	$ 1,161.3	$ 1,083.0	$ 1,158.3	$ 1,112.4	$ 1,232.1	$ 1,252.6	$ 1,213.3	$ 897.0	$ 4,515.0	$ 4,595.0	$ 3,873.8
Gross profit	231.7	219.7	240.7	222.6	259.0	279.4	248.7	172.8	914.7	959.9	788.9
Net income	48.0	24.4	15.8	36.1	69.8	67.5	21.1	35.8	124.3	194.2	229.5
Net income attributable to Greif, Inc.	44.4	$ 20.7	$ 11.4	$ 32.3	65.0	$ 62.7	$ 13.6	$ 29.7	108.8	171.0	209.4
Diluted:
Acquisition-related costs	3.5				7.5				17.0	29.7	0.7
Restructuring charges	11.9				5.8				38.7	26.1	18.6
Non-cash asset impairment charges	1.6				5.7				18.5	7.8	8.3
Gain on disposals of properties, plants and equipment, net	(17.1)				(6.8)				$ (19.2)	$ (13.9)	$ (5.6)
Gain (Loss) on sale of business	$ 0.9				$ 0.7
Class A common stock
Basic:
Basic (usd per share)	$ 0.74	$ 0.35	$ 0.19	$ 0.55	$ 1.09	$ 1.06	$ 0.23	$ 0.51	$ 1.83	$ 2.89	$ 3.56
Diluted:
Diluted (usd per share)	$ 0.74	$ 0.35	$ 0.19	$ 0.55	$ 1.09	$ 1.06	$ 0.23	$ 0.51	$ 1.83	$ 2.89	$ 3.55
Basic:
Basic (shares)	26,441,986	26,441,986	26,386,439	26,260,943	26,257,943	26,257,943	26,250,460	25,991,433	26,382,838	26,189,445	25,915,887
Diluted:
Diluted (shares)	26,512,331	26,442,595	26,386,439	26,414,280	26,360,148	26,257,943	26,255,112	25,991,433	26,390,643	26,215,111	25,965,856
Market price of common stock (usd per share)	$ 40.59	$ 34.38	$ 33.08	$ 38.77	$ 39.17	$ 34.57	$ 38.59	$ 37.67
Class B common stock
Basic:
Basic (usd per share)	1.12	0.52	0.29	0.81	1.65	1.59	0.34	0.75	$ 2.74	$ 4.33	$ 5.33
Diluted:
Diluted (usd per share)	$ 1.12	$ 0.52	$ 0.29	$ 0.81	$ 1.65	$ 1.59	$ 0.34	$ 0.75	$ 2.74	$ 4.33	$ 5.33
Basic:
Basic (shares)	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,000,000.0	22,000,000.0	22,000,000.0
Diluted:
Diluted (shares)	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,007,725	22,000,000.0	22,000,000.0	22,000,000.0
Market price of common stock (usd per share)	$ 43.25	$ 38.67	$ 38.50	$ 45.05	$ 47.03	$ 42.39	$ 47.23	$ 43.18
Maximum \| Class A common stock
Diluted:
Market price of common stock (usd per share)	43.82	40.56	40.82	44.63	40.59	39.15	41.49	49.28
Maximum \| Class B common stock
Diluted:
Market price of common stock (usd per share)	47.19	43.65	48.45	51.40	48.76	47.69	48.57	50.55
Minimum \| Class A common stock
Diluted:
Market price of common stock (usd per share)	34.44	27.57	24.10	38.64	30.05	30.74	37.10	31.22
Minimum \| Class B common stock
Diluted:
Market price of common stock (usd per share)	$ 38.29	$ 34.94	$ 30.80	$ 45.05	$ 37.96	$ 41.10	$ 42.48	$ 36.87

Quarterly Financial Data (Unaudited) - Additional Information (Details) - Subsequent Event	Dec. 14, 2020 Shareholder
Class A common stock
Number of stockholders (shareholder)	392
Class B common stock
Number of stockholders (shareholder)	76

Redeemable Noncontrolling Interests - Additional Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2020 USD ($) joint_venture	Oct. 31, 2019 USD ($)	Oct. 31, 2018 USD ($)
Noncontrolling Interest [Line Items]
Purchases of redeemable noncontrolling interest	$ 0.0	$ 11.9	$ 0.0
Paper Packaging & Services
Noncontrolling Interest [Line Items]
Number of joint ventures (joint venture) \| joint_venture	2
Rigid Industrial Packaging & Services
Noncontrolling Interest [Line Items]
Number of joint ventures (joint venture) \| joint_venture	1
Owner One \| Paper Packaging & Services
Noncontrolling Interest [Line Items]
Purchases of redeemable noncontrolling interest	$ 10.1
Owner Two \| Paper Packaging & Services
Noncontrolling Interest [Line Items]
Purchases of redeemable noncontrolling interest	$ 1.8

Redeemable Noncontrolling Interests - Mandatorily Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Redeemable noncontrolling interests, beginning balance	$ 21.3	$ 35.5
Current period mark to redemption value	(0.4)	(4.9)
Redeemable noncontrolling interests, ending balance	20.0	21.3
Container Life Cycle Management LLC
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Redeemable noncontrolling interests, beginning balance	8.4	8.6
Current period mark to redemption value	0.0	(0.2)
Redeemable noncontrolling interests, ending balance	$ 8.4	$ 8.4

Redeemable Noncontrolling Interests - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Redeemable noncontrolling interests, beginning balance	$ 21.3	$ 35.5
Current period mark to redemption value	(0.4)	(4.9)
Repurchase of redeemable shareholder interest		11.9
Redeemable noncontrolling interest share of income and other	0.1	2.3	$ 3.7
Dividends to redeemable noncontrolling interest and other	(1.0)	0.3
Redeemable noncontrolling interests, ending balance	$ 20.0	$ 21.3	$ 35.5

Schedule II - Consolidated Valuation and Qualifying Accounts and Reserves - (Details) - Allowance for doubtful accounts - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 6.8	$ 4.2	$ 8.9
Charged to Costs and Expenses	1.3	0.6	0.4
Charged to Other Accounts	1.3	2.0	(4.6)
Deductions	0.0	0.0	(0.5)
Balance at End of Period	$ 9.4	$ 6.8	$ 4.2

Subsequent Events (Details) $ in Millions	Dec. 14, 2020 USD ($)	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)	Jul. 15, 2011 EUR (€)	May 31, 2005 USD ($)	May 23, 2005 USD ($)
Subsequent Event [Line Items]
Purchase notes payable						$ 50.9
Senior Notes due 2021 \| Senior Notes
Subsequent Event [Line Items]
Amount of debt \| €				€ 200,000,000.0
Interest of senior notes				7.375%
STA Timber
Subsequent Event [Line Items]
Debt instrument, principal outstanding		$ 43.3	$ 43.3
STA Timber \| Monetization Notes
Subsequent Event [Line Items]
Debt instrument, principal outstanding					$ 43.3
Interest of senior notes					5.20%
Subsequent Event
Subsequent Event [Line Items]
Purchase notes payable	$ 50.9
Subsequent Event \| STA Timber \| Monetization Notes
Subsequent Event [Line Items]
Debt instrument, principal outstanding	$ 43.3

Financial Instruments and Fair Value Measurements - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	$ (7.7)	$ 7.6
Other current assets and other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement		1.3
Other current assets and other long-term assets \| Cross currency swap
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	8.9	10.6
Other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	21.4	20.0
Other current liabilities and other long-term liabilities
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	(37.9)	(25.0)
Other current assets \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	1.5	0.9
Other current liabilities \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	(1.6)	(0.2)
Level 1
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 1 \| Other current assets and other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement		0.0
Level 1 \| Other current assets and other long-term assets \| Cross currency swap
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 1 \| Other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 1 \| Other current liabilities and other long-term liabilities
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 1 \| Other current assets \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 1 \| Other current liabilities \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 2
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	(29.1)	(12.4)
Level 2 \| Other current assets and other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement		1.3
Level 2 \| Other current assets and other long-term assets \| Cross currency swap
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	8.9	10.6
Level 2 \| Other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 2 \| Other current liabilities and other long-term liabilities
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	(37.9)	(25.0)
Level 2 \| Other current assets \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	1.5	0.9
Level 2 \| Other current liabilities \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	(1.6)	(0.2)
Level 3
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	21.4	20.0
Level 3 \| Other current assets and other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement		0.0
Level 3 \| Other current assets and other long-term assets \| Cross currency swap
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 3 \| Other long-term assets
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	21.4	20.0
Level 3 \| Other current liabilities and other long-term liabilities
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 3 \| Other current assets \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	0.0	0.0
Level 3 \| Other current liabilities \| Foreign exchange hedges
Fair Value Assets Measured On Recurring Basis [Line Items]
Fair Value Measurement	$ 0.0	$ 0.0

Post Retirement Benefit Plans - Fair Value Measurements for Pension Assets (Details) - USD ($) $ in Millions	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets in the Fair Value Hierarchy	$ 1,002.1	$ 1,017.0
Total Assets in the Fair Value Hierarchy	440.9	371.9
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets in the Fair Value Hierarchy	33.3	59.7
Total Assets in the Fair Value Hierarchy	33.3	59.7
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets in the Fair Value Hierarchy	407.6	312.2
Total Assets in the Fair Value Hierarchy	407.6	312.2
Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets in the Fair Value Hierarchy	0.0	0.0
Total Assets in the Fair Value Hierarchy	0.0	0.0
Mutual funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	131.6	163.0
Mutual funds \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	9.2	25.6
Mutual funds \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	122.4	137.4
Mutual funds \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Mutual funds \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments Measured at Net Asset Value	0.5	358.5
Insurance contracts \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments Measured at Net Asset Value	132.9	130.2
Common stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	9.3	27.6
Common stock \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	9.3	27.6
Common stock \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Common stock \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Common stock \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments Measured at Net Asset Value	215.4	81.5
Cash
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	14.8	6.5
Cash \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	14.8	6.5
Cash \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Cash \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Corporate bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	250.3	134.8
Corporate bonds \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Corporate bonds \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	250.3	134.8
Corporate bonds \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Corporate bonds \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments Measured at Net Asset Value	203.1	70.8
Government bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	34.2	39.8
Government bonds \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Government bonds \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	34.2	39.8
Government bonds \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Government bonds \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Investments Measured at Net Asset Value	9.3	4.1
Other assets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.7	0.2
Other assets \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.0	0.0
Other assets \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	0.7	0.2
Other assets \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Investment within Plan Asset Category, Amount	$ 0.0	$ 0.0