0000043920-21-000076 | 10-K | XBRL Viewer

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Cover - USD ($)	12 Months Ended
Cover - USD ($)	Oct. 31, 2021	Dec. 13, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 31, 2021
Current Fiscal Year End Date	--10-31
Document Transition Report	false
Entity File Number	001-00566
Entity Registrant Name	GREIF, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-4388903
Entity Address, Address Line One	425 Winter Road
Entity Address, City or Town	Delaware
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43015
City Area Code	740
Local Phone Number	549-6000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
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 March 1, 2022 (the “2022 Proxy Statement”), portions of which are incorporated by reference into Parts II and III of this Form 10-K. The 2022 Proxy Statement will be filed within 120 days of October 31, 2021.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0000043920
Class A common stock
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock
Trading Symbol	GEF
Security Exchange Name	NYSE
Entity Public Float			$ 1,531,049,011
Entity Common Stock, Shares Outstanding		26,550,924
Class B common stock
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock
Trading Symbol	GEF-B
Security Exchange Name	NYSE
Entity Public Float			$ 347,877,449
Entity Common Stock, Shares Outstanding		22,007,725

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Net sales	$ 5,556.1	$ 4,515.0	$ 4,595.0
Costs of products sold	4,463.1	3,600.3	3,635.1
Gross profit	1,093.0	914.7	959.9
Selling, general and administrative expenses	565.9	516.0	507.4
Restructuring charges	23.1	38.7	26.1
Timberland gains	(95.7)	0.0	0.0
Acquisition and integration related costs	9.1	17.0	29.7
Non-cash asset impairment charges	8.9	18.5	7.8
Gain on disposal of properties, plants and equipment, net	(3.7)	(19.2)	(13.9)
Loss on disposal of businesses, net	0.2	38.8	3.7
Operating profit	585.2	304.9	399.1
Interest expense, net	92.7	115.8	112.5
Debt extinguishment charges	0.0	0.0	22.0
Non-cash pension settlement charges	9.1	0.3	0.0
Other expense, net	4.8	2.7	2.6
Income before income tax expense and equity earnings of unconsolidated affiliates, net	478.6	186.1	262.0
Income tax expense	69.6	63.3	70.7
Equity earnings of unconsolidated affiliates, net of tax	(4.2)	(1.5)	(2.9)
Net income	413.2	124.3	194.2
Net income attributable to noncontrolling interests	(22.5)	(15.5)	(23.2)
Net income attributable to Greif, Inc.	$ 390.7	$ 108.8	$ 171.0
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)	$ 6.57	$ 1.83	$ 2.89
Diluted earnings per share attributed to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	6.54	1.83	2.89
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)	9.84	2.74	4.33
Diluted earnings per share attributed to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	$ 9.84	$ 2.74	$ 4.33

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 413.2	$ 124.3	$ 194.2
Other comprehensive income (loss), net of tax:
Foreign currency translation	(1.6)	(9.8)	(4.5)
Derivative financial instruments	21.1	(12.0)	(26.1)
Minimum pension liabilities	50.4	15.1	(25.3)
Other comprehensive income (loss), net of tax	69.9	(6.7)	(55.9)
Comprehensive income	483.1	117.6	138.3
Comprehensive income attributable to noncontrolling interests	21.4	2.6	23.9
Comprehensive income attributable to Greif, Inc.	$ 461.7	$ 115.0	$ 114.4

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Current assets
Cash and cash equivalents	$ 124.6	$ 105.9
Trade accounts receivable, net of allowance	889.5	636.6
Inventories:
Raw materials	390.7	208.4
Work-in-process	1.5	5.4
Finished goods	107.0	79.8
Assets held for sale	6.9	57.0
Assets held by special purpose entities and other current assets	89.9	115.8
Prepaid expenses	54.0	43.0
Other current assets	89.9	115.8
Total current assets	1,664.1	1,302.8
Long-term assets
Goodwill	1,515.4	1,518.4
Other intangible assets, net of amortization	648.4	715.3
Deferred tax assets	16.3	11.3
Pension assets	39.9	29.5
Operating lease assets	289.4	307.5
Other long-term assets	121.1	99.2
Total long-term assets	2,630.5	2,681.2
Properties, plants and equipment
Timber properties, net of depletion	224.6	224.5
Land	161.9	162.6
Buildings	543.8	524.7
Machinery and equipment	2,042.3	1,930.6
Capital projects in progress	137.2	120.6
Properties, plants and equipment, gross	3,109.8	2,963.0
Accumulated depreciation	(1,588.6)	(1,436.1)
Properties, plants and equipment, net	1,521.2	1,526.9
Total assets	5,815.8	5,510.9
Current liabilities
Accounts payable	704.5	450.7
Accrued payroll and employee benefits	160.3	122.3
Restructuring reserves	20.3	21.6
Current portion of long-term debt	120.3	123.1
Short-term borrowings	50.5	28.4
Liabilities held for sale	0.9	0.0
Liabilities held by special purpose entities	203.3	158.4
Current portion of operating lease liabilities	54.0	52.3
Other current liabilities	203.3	158.4
Total current liabilities	1,314.1	1,000.1
Long-term liabilities
Long-term debt	2,054.8	2,335.5
Operating lease liabilities	239.5	257.7
Deferred tax liabilities	318.0	339.2
Pension liabilities	78.3	137.7
Post-retirement benefit obligations	11.0	11.6
Contingent liabilities and environmental reserves	19.5	20.2
Long-term income tax payable	27.8	27.8
Other long-term liabilities	153.1	160.4
Total long-term liabilities	2,902.0	3,290.1
Commitments and Contingencies (Note 10)
Redeemable Noncontrolling Interests (Note 15)	24.1	20.0
Equity
Common stock, without par value	179.3	170.2
Treasury stock, at cost	(134.1)	(134.4)
Retained earnings	1,825.6	1,543.9
Accumulated other comprehensive income (loss), net of tax:
Foreign currency translation	(295.4)	(294.9)
Derivative financial instruments	(3.6)	(24.7)
Minimum pension liabilities	(57.5)	(107.9)
Total Greif, Inc. shareholders’ equity	1,514.3	1,152.2
Noncontrolling interests	61.3	48.5
Total shareholders’ equity	1,575.6	1,200.7
Total liabilities and shareholders’ equity	5,815.8	5,510.9
Variable Interest Entity, Primary Beneficiary
Inventories:
Assets held by special purpose entities and other current assets	0.0	50.9
Other current assets	0.0	50.9
Current liabilities
Liabilities held by special purpose entities	0.0	43.3
Other current liabilities	$ 0.0	$ 43.3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Cash flows from operating activities:
Net income	$ 413.2	$ 124.3	$ 194.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	234.4	242.5	206.1
Timberland gains	(95.7)	0.0	0.0
Non-cash asset impairment charges	8.9	18.5	7.8
Non-cash pension settlement charges	9.1	0.3	0.0
Gain on disposal of properties, plants and equipment, net	(3.7)	(19.2)	(13.9)
Loss on disposals of businesses, net	0.2	38.8	3.7
Unrealized foreign exchange (gain) loss	1.0	(4.2)	3.0
Deferred income tax (benefit) expense	(47.2)	16.7	2.1
Transition tax benefit	0.0	0.0	(0.8)
Debt extinguishment charges	0.0	0.0	14.0
Non-cash lease expense	40.0	57.4	0.0
Other, net	(2.4)	(3.0)	4.2
Increase (decrease) in cash from changes in certain assets and liabilities:
Trade accounts receivable	(247.5)	(9.1)	55.1
Inventories	(205.6)	27.1	33.9
Deferred purchase price on sold receivables	0.0	0.0	(6.9)
Accounts payable	230.4	38.1	(69.9)
Restructuring reserves	(1.4)	10.2	6.7
Operating leases	(43.5)	(56.8)	0.0
Pension and post-retirement benefit liabilities	(11.5)	(13.3)	(15.3)
Other, net	117.3	(13.6)	(34.5)
Net cash provided by operating activities	396.0	454.7	389.5
Cash flows from investing activities:
Acquisitions of companies, net of cash acquired	0.0	0.0	(1,857.9)
Purchases of properties, plants and equipment	(140.7)	(131.4)	(156.8)
Purchases of and investments in timber properties	(6.6)	(5.4)	(5.4)
Proceeds from the sale of properties, plants, equipment and other assets	16.2	33.4	28.7
Proceeds from the sale of businesses	2.7	80.9	1.5
Proceeds on timberlands	145.1	0.0	0.0
Collections on receivables of SPE	50.9	0.0	0.0
Payments for issuance of loans receivable	(15.0)	0.0	0.0
Other	(5.8)	(2.7)	0.6
Net cash provided by (used in) investing activities	46.8	(25.2)	(1,989.3)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,806.4	1,319.9	3,732.3
Payments on long-term debt	(2,176.4)	(1,578.4)	(2,075.6)
Proceeds on short-term borrowings, net	21.1	17.0	2.2
Proceeds from trade accounts receivable credit facility	106.0	76.8	181.4
Payments on trade accounts receivable credit facility	(23.1)	(122.9)	(89.2)
Payments for liabilities in SPE	(43.3)	0.0	0.0
Dividends paid to Greif, Inc. shareholders	(105.8)	(104.3)	(104.0)
Dividends paid to noncontrolling interests	(7.8)	(13.4)	(9.2)
Payments for debt extinguishment and issuance costs	0.0	0.0	(44.1)
Purchases of redeemable noncontrolling interest	0.0	0.0	(11.9)
Cash contribution from noncontrolling interest holder	0.0	0.0	1.6
Net cash provided by (used in) financing activities	(422.9)	(405.3)	1,583.5
Reclassification of cash to assets held for sale	0.5	0.0	0.0
Effects of exchange rates on cash	(1.7)	4.4	(0.6)
Net increase (decrease) in cash and cash equivalents	18.7	28.6	(16.9)
Cash and cash equivalents at beginning of year	105.9	77.3	94.2
Cash and cash equivalents at end of year	124.6	105.9	77.3
Non-cash transactions:
Capital expenditures included in accounts payable	38.7	17.2	18.6
Schedule of interest and income taxes paid:
Cash payments for interest expense	104.5	119.9	161.8
Cash payments for taxes	$ 54.7	$ 65.1	$ 71.4

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Executive Officer	Director	Cumulative Effect, Period of Adoption, Adjustment	Capital Stock	Capital Stock Executive Officer	Capital Stock Director	Treasury Stock	Treasury Stock Executive Officer	Treasury Stock Director	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Greif, Inc. Equity	Greif, Inc. Equity Executive Officer	Greif, Inc. Equity Director	Greif, Inc. Equity Cumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interests
Beginning balance (shares) at Oct. 31, 2018				(2,100)	47,949			28,893				(2,100)					(2,100)
Beginning balance, value at Oct. 31, 2018	$ 1,154.2				$ 150.5			$ (135.4)			$ 1,469.8		$ (377.1)	$ 1,107.8				$ 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 (benefit)	(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 to Greif, Inc.,	(104.0)										(104.0)			(104.0)
Dividends paid to noncontrolling interests	(7.9)																	(7.9)
Restricted stock executives and directors (shares)							(25)			(25)
Restricted stock directors			$ 1.1				$ 1.1									$ 1.1
Acquisition of noncontrolling interest and other	(2.7)										(0.6)			(0.6)				(2.1)
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:AccountingStandardUpdate201616Member
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 (benefit)	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 to Greif, Inc.,	(104.3)										(104.3)			(104.3)
Dividends paid to noncontrolling interests	(12.0)																	(12.0)
Restricted stock executives and directors (shares)						(3)	(28)		(3)	(28)
Restricted stock directors		$ 0.1	1.1			$ 0.1	$ 1.0			$ 0.1					$ 0.1	1.1
Long-term incentive shares issued (shares)					(153)			(153)
Long-term incentive shares issued	5.3				$ 5.0			$ 0.3						5.3
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	413.2										390.7			390.7				22.5
Other comprehensive income (loss):
Foreign currency translation	(1.6)												(0.5)	(0.5)				(1.1)
Derivative financial instruments, net of income tax expense (benefit)	21.1												21.1	21.1
Minimum pension liability adjustment, net of income tax expense (benefit)	50.4												50.4	50.4
Comprehensive income	483.1													461.7
Current period mark to redemption value of redeemable noncontrolling interest	(2.6)										(2.6)			(2.6)
Net income allocated to redeemable noncontrolling interests	(2.4)																	(2.4)
Dividends paid to Greif, Inc.,	(105.8)										(105.8)			(105.8)
Dividends paid to noncontrolling interests	(6.2)																	(6.2)
Dividends earned on RSU shares	(0.6)										(0.6)			(0.6)
Restricted stock executives and directors (shares)						(3)	(26)		(3)	(26)
Restricted stock directors		$ 0.1	$ 1.3			$ 0.1	$ 1.2		$ 0.0	$ 0.1					$ 0.1	$ 1.3
Long-term incentive shares issued (shares)					(80)			(80)
Long-term incentive shares issued	4.1				$ 3.9			$ 0.2						4.1
Share based compensation	3.9				$ 3.9									3.9
Ending balance (shares) at Oct. 31, 2021					48,559			28,283
Ending balance, value at Oct. 31, 2021	$ 1,575.6				$ 179.3			$ (134.1)			$ 1,825.6		$ (356.5)	$ 1,514.3				$ 61.3

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Derivative gain (loss), tax	$ (7.0)	$ 4.0	$ (8.6)
Defined benefit plan, tax	$ (15.8)	$ (4.8)	$ 1.1
Class A common stock
Dividend paid (usd per share)	$ 1.78	$ 1.76	$ 1.76
Class B common stock
Dividend paid (usd per share)	$ 2.66	$ 2.63	$ 2.63

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Oct. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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 produce and sell containerboard, corrugated sheets, corrugated containers, and other corrugated products to customers in North America in industries such as packaging, automotive, food and building products. The Company also produce and sell coated recycled paperboard and uncoated recycled paperboard, some of which are used to produce and sell industrial products (tubes and cores, construction products, protective packaging and adhesives). In addition, the Company 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, agriculture, pharmaceuticals, minerals, 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, 2021.

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 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.

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. Though actual amounts could significantly or materially differ from estimates, the most significant estimates are related to:

•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.

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 $6.1 million and $9.4 million as of October 31, 2021 and 2020, 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 the 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 and mature within three months. The Company did not incur any losses related to these investments during the years ended October 31, 2021, 2020, and 2019.

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 adjusts these reserves as required.

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 Accounting Standards Codification ("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. 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 6 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 2 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			10-15
Customer relationships			5-23
Non-compete agreements			3-10
Other intangibles			7-15

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-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
Machinery and equipment			10-15

Depreciation expense was $164.6 million, $169.1 million and $149.0 million in 2021, 2020 and 2019, 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, 2021, 2020 and 2019, the Company's capitalized interest costs were not material.

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, 2021, the Company's timber properties consisted of approximately 175,000 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 a 10 to 20 year period. 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 five 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. For the years ended October 31, 2021, 2020 and 2019, the Company's depletion expense was not material.

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 $7.4 million and $7.2 million for estimated costs related to outstanding claims as of October 31, 2021 and 2020, 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 $24.0 million and $24.7 million for anticipated costs related to general liability, product, vehicle and workers’ compensation claims as of October 31, 2021 and 2020, 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, 2021. 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. Currently, cross currency swaps are held by the Company to synthetically swap U.S. dollar denominated fixed rate debt into Euro denominated fixed rate debt, thus reducing the impact of foreign currency translation for operations and investments we have in various international locations. The Company uses the critical terms match method for assessing the effectiveness of the swaps.

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 not 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 and restricted stock units.

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 statement of income.

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 13 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 not material for the years ended October 31, 2021, 2020 and 2019.

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 changes on future interest expense.

The Company's cross currency interest rate swap agreement synthetically swaps United States ("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 6 and Note 9 of the Notes to the consolidated financial statements.

Newly Adopted Accounting Standards

In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 adopted this ASU on November 1, 2020. The adoption of this guidance did not have a material impact on financial position, results of operations, comprehensive income, cash flows or disclosures.

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 has completed its assessment related to the adoption of the ASU and based on the current structure of the Company and its operations, the ASU is not expected to have a material impact on the financial position, result of operations, comprehensive income, cash flows or disclosures.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the changes in the carrying amount of goodwill by reportable segment for the years ended October 31, 2021 and 2020:


(in millions)	Global Industrial Packaging (1)		Paper Packaging & Services		Total
Balance at October 31, 2019	$	731.7	$	786.1	$	1,517.8

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

Goodwill allocated to divestitures and businesses held for sale	(0.4)		—		(0.4)
Goodwill adjustments	(0.2)		—		(0.2)

Currency translation	(2.6)		0.2		(2.4)
Balance at October 31, 2021	$	747.3	$	768.1	$	1,515.4

(1)Accumulated goodwill impairment loss was $63.3 million as of October 31, 2021, 2020 and 2019, related to the Global Industrial Packaging reportable segment.

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, 2021. The fair value of the Company's goodwill reporting units exceeded the carrying value, resulting in no impairment. Discount rates and revenue growth rates 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, 2021 and 2020:


(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
October 31, 2021:
Indefinite lived:
Trademarks and patents	$	13.4	$	—	$	13.4
Definite lived:
Customer relationships	887.0		259.4		627.6
Trademarks and patents	27.3		20.8		6.5
Non-compete agreements	0.7		0.6		0.1
Other	1.8		1.0		0.8
Total	$	930.2	$	281.8	$	648.4

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

Gross intangible assets decreased by $25.1 million for the year ended October 31, 2021. The decrease was attributable to the write-off of $25.1 million fully-amortized assets and $0.3 million of currency fluctuations; offset by $0.3 million of immaterial asset acquisitions.

Amortization expense was $66.9 million, $69.1 million and $53.2 million for the years ended October 31, 2021, 2020 and 2019, respectively. Amortization expense for the next five years is expected to be $59.6 million in 2022, $56.9 million in 2023, $53.6 million in 2024, $51.0 million in 2025 and $50.3 million in 2026.

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 $13.4 million as of October 31, 2021, 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, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the years ended October 31, 2021 and 2020:


(in millions)	Employee Separation Costs		Other Costs		Total
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
Costs incurred and charged to expense	14.9		8.2		23.1
Costs paid or otherwise settled	(14.2)		(10.2)		(24.4)
Balance at October 31, 2021	$	18.6	$	1.7	$	20.3

The focus for restructuring activities in 2021 was to optimize and integrate operations in the Paper Packaging & Services reportable segment and to rationalize operations and close underperforming assets in the Global Industrial Packaging reportable segment. During the year ended October 31, 2021, the Company recorded restructuring charges of $23.1 million, as compared to $38.7 million of restructuring charges recorded during the year ended October 31, 2020. The restructuring activity for the year ended October 31, 2021 consisted of $14.9 million in employee separation costs and $8.2 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. There were five plants closed in 2021, and a total of 177 employees severed throughout 2021 as part of the Company’s restructuring efforts.

The focus for restructuring activities in 2020 was to optimize and integrate operations in the Paper Packaging & Services reportable segment related to the acquisition of Caraustar Industries, Inc. and its subsidiaries ("Caraustar") on February 11, 2019 (the “Caraustar Acquisition”), and continue to rationalize operations and close underperforming assets in the Global Industrial Packaging segments. During 2020, the Company recorded restructuring charges of $38.7 million, consisting 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 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 reportable segment related to the Caraustar Acquisition and continue to rationalize operations and close underperforming assets in the Global Industrial Packaging 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 incurred for services specifically associated with employee separation and relocation. There were twelve plants closed and a total of 430 employees severed throughout 2019 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 $10.8 million as of October 31, 2021:


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the year ended October 31, 2021		Amounts Remaining to be Incurred
Global Industrial Packaging:
Employee separation costs	$	19.5	$	13.7	5.8
Other restructuring costs	5.8		3.4		2.4
	25.3		17.1		8.2
Paper Packaging & Services:
Employee separation costs	1.4		1.1		0.3
Other restructuring costs	7.1		4.8		2.3
	8.5		5.9		2.6
Land Management:
Employee separation costs	0.1		0.1		—

	0.1		0.1		—
Total	$	33.9	$	23.1	$	10.8

CONSOLIDATION OF VARIABLE INTEREST ENTITIES

12 Months Ended

Oct. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

CONSOLIDATION OF VARIABLE INTEREST ENTITIES

CONSOLIDATION OF VARIABLE INTEREST ENTITIESThe 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 method 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.

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 Company's flexible packaging business, which are included in Global Industrial Packaging reportable 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, 2021		October 31, 2020
Cash and cash equivalents	$	19.6	$	19.0
Trade accounts receivable, less allowance of $0.4 in 2021 and $0.7 in 2020	59.0		47.5
Inventories	58.5		36.0
Properties, plants and equipment, net	25.8		22.8
Other assets	25.1		20.3
Total assets	$	188.0	$	145.6

Accounts payable	$	45.3	$	29.4
Other liabilities	40.7		22.8
Total liabilities	$	86.0	$	52.2

Net income attributable to the noncontrolling interest in the Flexible Packaging JV for the years ended October 31, 2021, 2020 and 2019 were $7.9 million, $6.4 million and $12.4 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, 2021		October 31, 2020
Cash and cash equivalents	$	5.9	$	—
Trade accounts receivable, less allowance of $0.0 in 2021 and $0.0 in 2020	9.4		5.5
Inventories	10.8		6.3
Properties, plants and equipment, net	31.1		34.3
Other assets	0.5		0.6
Total assets	$	57.7	$	46.7

Accounts payable	3.4		5.2
Other liabilities	1.7		1.3
Total liabilities	$	5.1	$	6.5

Net income (loss) attributable to the noncontrolling interest in the Paper Packaging JV for the years ended October 31, 2021, 2020 and 2019 were $0.5 million, $(1.8) million and $(0.1) million, respectively.

Non-United States Accounts Receivable VIE

As further described in Note 5 of the Notes to Consolidated Financial Statements, Cooperage Receivables Finance B.V. is a party to the Nieuw Amsterdam Receivables Financing Agreement (the "European RFA"). 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, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt is summarized as follows:


(in millions)	October 31, 2021		October 31, 2020
2019 Credit Agreement - Term Loans	$	1,247.3	$	1,429.8
Senior Notes due 2027	495.9		495.1
Senior Notes due 2021	—		234.8
Accounts receivable credit facilities	391.1		310.0
2019 Credit Agreement - Revolving Credit Facility	50.5		—
Other debt	0.6		—
	2,185.4		2,469.7
Less current portion	120.3		123.1
Less deferred financing costs	10.3		11.1
Long-term debt, net	$	2,054.8	$	2,335.5

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 that commenced on April 30, 2019 and continue through maturity on

January 31, 2024, (c) a $400.0 million secured term A-2 loan with quarterly principal installments that commenced on April 30, 2019 and continue through maturity on January 31, 2026, and (d) a $225.0 million secured term A-3 loan with quarterly principal installments that commenced on July 31, 2021 and continue through maturity on July 15, 2026. In addition, the Company has an option to add an aggregate of $475.0 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.

As of October 31, 2021, $1,297.8 million was outstanding under the 2019 Credit Agreement. The current portion of such outstanding amount was $120.3 million, and the long-term portion was $1,177.5 million. The weighted average interest rate for borrowings under the 2019 Credit Agreement was 1.81% for the year ended October 31, 2021. The actual interest rate for borrowings under the 2019 Credit Agreement was 1.41% as of October 31, 2021. The deferred financing costs associated with the term loan portion of the 2019 Credit Agreement totaled $8.4 million as of October 31, 2021 and are recorded as a reduction of long-term debt on the consolidated balance sheets. The deferred financing costs associated with the revolver portion of the 2019 Credit Agreement totaled $4.2 million as of October 31, 2021 and are recorded within other long-term assets on the consolidated balance sheets.

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 and commenced 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 $1.9 million as of October 31, 2021 and is recorded as a reduction of long-term debt on the consolidated balance sheets.

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., 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 May 26, 2021, the Third Amended TAA was amended with a new maturity date of May 26, 2022.

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 U.S. Receivables Facility is secured by certain trade accounts receivables related to the Global Industrial Packaging 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 $275.0 million outstanding balance under the U.S. Receivables Facility as of October 31, 2021 is reported as long-term debt in the 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 July 27, 2021, Cooperage Receivables Finance B.V. and Greif Coordination Center BVBA, an indirect wholly owned subsidiary of Greif, Inc., amended and restated the European RFA with affiliates of a major international bank. The amended and restated European RFA matures April 26, 2022. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($116.1 million as of October 31, 2021) secured by certain European accounts receivable. The $116.1 million outstanding on the European RFA as of October 31, 2021 is reported as 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.

Short-Term Borrowings

The Company had short-term borrowings of $50.5 million and $28.4 million as of October 31, 2021 and 2020, respectively. There are no financial covenants associated with this other debt.

As of October 31, 2021, annual scheduled payments and maturities, including the current portion of long-term debt, were $562.5 million in 2022, $120.3 million in 2023, $611.0 million in 2024, $26.1 million in 2025, $369.6 million in 2026 and $495.9 million thereafter.

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

12 Months Ended

Oct. 31, 2021

Fair Value Disclosures [Abstract]

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, 2021 and 2020:


	October 31, 2021
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	7.6	$	—	$	7.6	$	—	$	(16.8)	$	—	$	(16.8)
Foreign exchange hedges	—		0.1		—		0.1		—		(0.1)		—		(0.1)
Insurance annuity	—		—		20.9		20.9		—		—		—		—
Cross currency swap	—		10.2		—		10.2		—		(1.2)		—		(1.2)

	October 31, 2020
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	—	$	—	$	—	$	—	$	(37.9)	$	—	$	(37.9)
Foreign exchange hedges	—		1.5		—		1.5		—		(1.6)		—		(1.6)
Insurance annuity	—		—		21.4		21.4		—		—		—		—
Cross currency swap	—		8.9		—		8.9		—		—		—		—

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of October 31, 2021 and 2020 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 an interest spread.

In 2020 (effective July 15, 2021), the Company entered into four interest rate swaps with a total notional amount of $200.0 million, maturing on July 15, 2029. 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, 2021 is $500.0 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 three interest swaps with a total 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 14 herein for additional disclosures of the aggregate 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 $(18.1) million, $(16.5) million and $3.0 million for the year ended October 31, 2021, 2020 and 2019. A derivative loss of $11.5 million, based upon interest rates at October 31, 2021, 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, 2021, the Company had outstanding foreign currency forward contracts in the notional amount of $81.8 million ($268.6 million as of October 31, 2020).

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 $0.4 million, $(3.2) million and $4.6 million for the years ended October 31, 2021, 2020 and 2019, respectively. The unrealized net gain (loss) recognized by the Company in other expense, net was not material for the years ended October 31, 2021, 2020 and 2019, respectively.

Cross Currency Swap

On October 1, 2021, the Company entered into two cross currency interest rate swap agreements that synthetically swap $116.8 million of fixed rate debt to Euro denominated fixed rate debt. The Company receives a weighted average rate of 1.26% on these swaps. These agreements are designated as cash flow hedges for accounting purposes and will mature on October 5, 2026.

On August 11, 2021, the Company entered into two cross currency interest rate swap agreements that synthetically swap $117.6 million of fixed rate debt to Euro denominated fixed rate debt. The Company receives a weighted average rate of 1.19% on these swaps. These agreements are designated as net investment hedges for accounting purposes and will mature on August 10, 2026.

On March 6, 2018, the Company entered into two cross currency interest rate swap agreements that synthetically swaps $100.0 million of fixed rate debt to Euro denominated fixed rate debt. Greif receives a rate of 2.35% on these swaps. These agreements are designated as a net investment hedge for accounting purposes and will mature on March 6, 2023.

The gain or loss on the net investment hedge derivative instruments is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted, or liquidated. See Note 14 herein for additional disclosure of the aggregate gain or loss included within other comprehensive income. The gain or loss on the cash flow hedge derivative instruments is included in the unrealized foreign exchange component of other expense, offset by the underlying gain or loss on the underlying cash flows that are being hedged. 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 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.

For the years ended October 31, 2021, 2020 and 2019, gains recorded in interest expense, net under the cross currency swap agreements were $2.2 million, $2.4 million and $2.4 million, respectively.

Other Financial Instruments

The fair values of the Company’s 2019 Credit Agreement, the U.S. Receivables Facility and European RFA 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 due 2027:


(in millions)	October 31, 2021		October 31, 2020
Senior Notes due 2027 estimated fair value	$	520.0	$	524.4

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 $8.9 million and $18.5 million for the years ended October 31, 2021 and 2020.

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, 2021 and 2020:

Quantitative Information about Level 3 Fair Value Measurements

(in millions)

Fair Value of
Impairment

Valuation
Technique

Unobservable
Input

Range
of Input Values

October 31, 2021

Impairment of Net Assets Held for Sale

1.0

Indicative Bids

N/A

Impairment of Long Lived Assets

7.9

Discounted Cash Flows, Indicative Bids

N/A

Total

8.9

October 31, 2020

Impairment of Long Lived Assets

18.5

Discounted Cash Flows, Indicative Bids

N/A

Total

18.5

Long-Lived Assets and Assets and Liabilities Held for Sale

During the year ended October 31, 2021, the Company wrote down long-lived assets with a carrying value of $9.9 million to a fair value of $1.0 million, resulting in recognized asset impairment charges of $8.9 million. These charges include $2.7 million related to properties, plants and equipment, net, in the Global Industrial Packaging reportable segment, $1.2 million related properties, plants and equipment, net in the Land Management reportable segment, and $5.0 million related to properties, plants and equipment, net, in the Paper Packaging & Services reportable segment.

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 $5.1 million related to properties, plants and equipment, net, in the Global Industrial Packaging reportable segment, $0.9 million related to definite-lived intangibles in the Global Industrial Packaging reportable segment, and $12.5 million related to properties, plants and equipment, net, in the Paper Packaging & Services reportable segment.

During the year ended October 31, 2019, the Company wrote down long-lived assets with a carrying value of $8.0 million to a fair value of $0.2 million, resulting in recognized asset impairment charges of $7.8 million. These charges include $0.6 million related to properties, plants and equipment, net, in the Global Industrial Packaging reportable segment, and $5.1 million related to properties, plants and equipment, net, in the Paper Packaging & Services reportable 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.

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 Consumer Packaging Group ("CPG") divestiture in April 2020, on a relative fair value basis. There was no goodwill impairment for the years ended October 31, 2021, 2020 or 2019.

STOCK-BASED COMPENSATION

12 Months Ended

Oct. 31, 2021

Share-based Payment Arrangement [Abstract]

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”). The total stock compensation expense (income) recorded under these plans was $34.1 million, $(1.2) million and $12.7 million for periods ended October 31, 2021, 2020 and 2019 respectively.

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 Compensation Committee.

2020 Long-Term Incentive Plan

For the three-year performance periods ending after fiscal 2021, awards were or will be made under the 2020 LTIP. 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. Upon vesting, the RSUs are to be awarded in shares of Class A Common Stock.

The Company has made the following grants of RSUs under the 2020 LTIP:

Issuance Date

December 17, 2020

February 25, 2020

Service Period

11/1/2020 - 10/31/2023

11/1/2019 - 10/31/2022

RSUs Granted

139,360

147,325

Weighted Average Fair Value of RSUs

$48.50

$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 adjusted earnings before interest, taxes, depreciation, depletion and amortization and total shareholder return as determined by the Compensation Committee. 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. If earned, the PSUs are to be awarded in shares of Class A Common Stock.

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


Issuance Date	December 17, 2020	February 25, 2020
Performance Period	11/1/2020 - 10/31/2023	11/1/2019 - 10/31/2022
PSUs Issued	253,102	258,519
Weighted Average Fair Value of PSUs at Issuance Date	$47.26	$35.58
Weighted Average Fair Value of PSUs at Valuation Date	$67.97	$73.50
Valuation Date Stock Price	$64.94	$64.94
Risk-Free Rate	0.5%	0.1%
Estimated Volatility	40.2%	31.0%

2006 Amended and Restated Long-Term Incentive Plan

For each of the three-year performance periods ending in fiscal 2021, 2020 and 2019, awards were 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. All restricted stock awards under the 2006 LTIP are fully vested at the date of award. Under the 2006 LTIP, the Company granted 80,252 shares of restricted Class A Common Stock with a grant date fair value of $50.08 for 2021 and 153,275 shares of restricted Class A Common Stock with a grant date fair value of $34.50 for 2020.

The total stock compensation expense (income) recorded under the 2020 and 2006 LTIP was $32.8 million, $(2.4) million and $11.6 million for the periods ended October 31, 2021, 2020 and 2019, respectively.

2005 Directors Plan

Under the 2005 Directors Plan, the Company granted 25,686 shares of restricted Class A Common Stock with a grant date fair value of $47.29 in 2021 and 27,768 shares of restricted Class A Common Stock with a grant date fair value of $38.89 in 2020. The total expense recorded under the 2005 Directors Plan was $1.2 million, $1.1 million and $1.1 million for the periods ended October 31, 2021, 2020 and 2019, respectively. All restricted stock awards under the 2005 Directors Plan are fully vested at the date of award.

For the 2005 Directors Plan, no stock options were granted in 2021, 2020 or 2019 and no shares were forfeited in 2021, 2020 or 2019.

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 vested in equal installments of 3,000 on November 5, 2019, 2020 and 2021. Share-based compensation expense was $0.1 million for each the period ended October 31, 2021, 2020 and 2019.

For the 2001 Plan, no stock options were granted in 2021, 2020 or 2019 and no shares were forfeited in 2021, 2020 or 2019.

INCOME TAXES

12 Months Ended

Oct. 31, 2021

Income Tax Disclosure [Abstract]

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. Further, on December 27, 2020, the Consolidated Appropriations Act of 2021 was enacted, which extended or expanded upon the income tax provisions outlined in the CARES Act. The Company has concluded its analysis of these provisions as October 31, 2021 and has determined that the CARES Act and Consolidated Appropriations Act of 2021 did not have a material impact on the Company’s income taxes for 2021.

The provision for income taxes consists of the following:


	Year Ended October 31,
(in millions)	2021		2020		2019
Current
Federal	$	45.0	$	(9.7)	$	26.6
State and local	15.5		3.3		6.1
Non-U.S.	56.3		53.0		35.9
Total Current	116.8		46.6		68.6
Deferred
Federal	(33.0)		7.9		2.1
State and local	(9.9)		10.2		0.9
Non-U.S.	(4.3)		(1.4)		(0.9)
Total Deferred	(47.2)		16.7		2.1
Tax expense	$	69.6	$	63.3	$	70.7

The U.S. income before income tax was $239.3 million, $25.5 million and $129.9 million in 2021, 2020 and 2019, respectively. The non-U.S. income before income tax expense was $239.2 million, $160.4 million and $132.1 million in 2021, 2020 and 2019, 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,
	2021		2020		2019
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	0.70	%	0.49	%	0.10	%
State and local taxes, net of federal tax benefit	0.93	%	5.71	%	1.99	%
Net impact of changes in valuation allowances	(2.57)	%	(15.23)	%	2.41	%

Non-deductible write-off and impairment of goodwill and other intangible assets	—	%	4.02	%	0.29	%
Return to provision	(2.73)	%	(1.85)	%	(1.27)	%
Permanent book-tax differences	0.86	%	16.56	%	(0.87)	%
Withholding taxes	2.86	%	5.28	%	2.43	%
Tax credits	(1.56)	%	(2.60)	%	(3.33)	%
Capital losses	(5.70)	%	(6.34)	%	—	%
Other items, net	0.73	%	6.97	%	4.23	%
Company's effective income tax rate	14.52	%	34.01	%	26.98	%

The primary items which decreased the Company’s effective income tax rate from the federal statutory rate in 2021 were capital losses, which are expected to reduce capital gains resulting from the sale of timberland; releases of unrecognized tax benefits as a result of the expiration of statute of limitations; decreases in valuation allowances; and other favorable return to provision adjustments and audit settlements. These reductions were offset by an increase in withholding taxes and other immaterial items.

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 from divestment of the CPG business, increases in permanent book-tax differences including a one-time elimination related to an intra-company sale and withholding tax liabilities. Increases were 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 components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows:


(in millions)	2021		2020
Deferred tax assets
Net operating loss and other carryforwards	$	149.0	$	179.3

Pension liabilities	—		12.9

Incentive liabilities	16.2		8.2
Workers compensation accruals	10.5		10.0

Inventories	6.4		7.8
Operating lease liabilities	74.4		76.9
State income taxes	11.6		10.2
Other reserves	18.4		21.0
Deferred compensation	2.2		2.4
Other	36.1		28.5





Total deferred tax assets	324.8		357.2
Valuation allowance	(132.7)		(146.4)
Net deferred tax assets	$	192.1	$	210.8

Deferred tax liabilities
Properties, plants and equipment	$	134.9	$	158.1
Operating lease assets	74.4		76.9
Timberland transactions	51.0		74.2
Goodwill and other intangible assets	190.2		200.2


Pension liabilities	4.5		—
Other	38.4		29.3
Total deferred tax liabilities	493.4		538.7
Net deferred tax liability	$	301.3	$	327.9

As of October 31, 2021 and 2020, the Company had deferred income tax benefits from net operating loss and other tax credit carryforwards of $149.0 million and $179.3 million, respectively. For fiscal year ended October 31, 2021, these carryforwards are consisted of $12.3 million, $21.8 million and $110.4 million in U.S. Federal, U.S. state and non-U.S. jurisdictions, respectively. As of 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. The Company has recorded valuation allowances of $116.8 million and $136.9 million against non-U.S. deferred tax assets as of October 31, 2021 and 2020, respectively. The Company has also recorded valuation allowances against U.S. deferred tax assets of $15.9 million and $9.5 million, as of October 31, 2021 and 2020, respectively. The Company had net changes in valuation allowances in 2021 of $13.7 million.

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


(in millions)	2021		2020		2019
Balance of unrecognized tax benefit at November 1	$	36.0	$	38.8	$	36.2
Increases in tax positions for prior years	1.2		10.1		5.1
Decreases in tax positions for prior years	—		(10.5)		(0.7)
Increases in tax positions for current years	1.7		2.6		4.3
Settlements with taxing authorities	—		—		(3.6)
Lapse in statute of limitations	(8.0)		(5.5)		(2.0)
Currency translation	0.1		0.5		(0.5)
Balance at October 31	$	31.0	$	36.0	$	38.8

The 2021 net decrease in unrecognized tax benefits is primarily related to decreases in unrecognized tax benefits related 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 2014 through the current year. The Company has completed its U.S. federal tax audit for the tax years through 2015.

The October 31, 2021, 2020, 2019 balances include $31.0 million, $36.0 million and $38.8 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, 2021 and 2020, the Company had accrued for the payment of interest and penalties in the amounts of $7.7 million and $7.2 million, respectively.

The Company has estimated the reasonably possible expected net change in unrecognized tax benefits through October 31, 2021 under ASC 740, "Income Taxes." The Company’s estimate is based on lapses of the applicable statutes of limitations, settlements and payments of uncertain tax positions. Though actual results may materially differ, the estimated net decrease in unrecognized tax benefits for the next 12 months could be up to $14.0 million.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

POST-RETIREMENT BENEFIT PLANS

12 Months Ended

Oct. 31, 2021

Retirement Benefits [Abstract]

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, Turkey 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 respective 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, South Africa and Turkey.

Pension plan contributions by the Company totaled $21.9 million during 2021, which consisted of $17.8 million of employer contributions and $4.1 million of benefits paid directly by the Company. Pension plan contributions, including benefits paid directly by the Company, totaled $26.4 million and $26.5 million during 2020 and 2019, respectively. Contributions, including benefits paid directly by the Company, during 2022 are expected to be approximately $35.5 million.

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


October 31, 2021	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	3,603	1,733	30	—	60	1,780
Vested former employees and deferred members	3,468	2,881	79	366	107	35
Retirees and beneficiaries	3,306	1,962	276	662	354	52

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

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


As of October 31,	2021		2020
Discount rate	2.55	%	2.48	%
Rate of compensation increase	2.96	%	2.91	%

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,	2021		2020		2019
Discount rate	2.48	%	2.74	%	3.48	%
Expected Return on plan assets	3.87	%	4.64	%	4.12	%
Rate of compensation increase	2.91	%	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 3.87% long-term expected return on those assets for cost recognition in 2021. 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, 2021, an annuity contract in the amount of approximately $98.8 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. Additionally, lump sum payments totaling $13.9 million were made from the U.S. defined benefit plan assets to certain participants who agreed to such payments, representing the current fair value of such participants' respective pension benefits. The settlement items described above resulted in a decrease in the fair value of both the plan assets and the projected benefit obligation of $112.7 million and non-cash pension settlement charges of $8.8 million of unrecognized net actuarial loss included in accumulated other comprehensive loss for the year ended October 31, 2021.

Additional lump sum payments in Canada, South Africa and the United Kingdom exceeded the settlement threshold for the fiscal year triggering settlement accounting. Lump sum payments for these plans resulted in non-cash pension settlement charges of $0.3 million of unrecognized net actuarial loss that was included in accumulated other comprehensive loss for the year ended October 31, 2021.

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 such participants' respective pension benefits. 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.

Benefit Obligations

The components of net periodic pension cost include the following:


For the year ended October 31, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	12.1	$	10.7	$	0.3	$	0.5	$	0.5	$	0.1
Interest cost	18.8		15.4		0.3		2.5		0.4		0.2
Expected return on plan assets	(31.8)		(25.8)		—		(4.6)		(0.7)		(0.7)
Amortization of prior service benefit	(0.3)		(0.1)		—		—		(0.2)		—
Recognized net actuarial loss	12.6		10.1		1.3		1.1		—		0.1
Special Events
Settlement	9.1		8.8		—		0.3		—		—
Net periodic pension (benefit) cost	$	20.5	$	19.1	$	1.9	$	(0.2)	$	—	$	(0.3)
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)		—

Other Adjustments	7.1		5.0		0.9		1.2		—		—


Net periodic pension (benefit) cost	$	13.3	$	12.5	$	1.7	$	(0.5)	$	—	$	(0.4)

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, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,110.3	$	782.0	$	42.1	$	184.6	$	90.9	$	10.7
Service cost	12.1		10.7		0.3		0.5		0.5		0.1
Interest cost	18.8		15.4		0.3		2.5		0.4		0.2
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(3.1)		(2.3)		—		(0.9)		0.2		(0.1)
Actuarial loss (gain)	0.3		17.1		(1.5)		(11.1)		(3.8)		(0.4)
Foreign currency effect	9.8		—		(0.4)		10.9		(0.9)		0.2
Benefits paid	(159.9)		(143.3)		(1.5)		(9.0)		(5.0)		(1.1)


Other	0.7		—		—		(3.4)		—		4.1
Benefit obligation at end of year	$	989.2	$	679.6	$	39.3	$	174.1	$	82.5	$	13.7
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

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


(in millions)	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
Actuarial value of benefit obligations and plan assets
October 31, 2021
Projected benefit obligation	$	989.2	$	679.6	$	39.3	$	174.1	$	82.5	$	13.7
Accumulated benefit obligation	961.0		655.4		38.2		174.1		81.2		12.1
Plan assets	950.8		646.4		—		205.4		84.5		14.5
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
Plans with ABO in excess of Plan assets
October 31, 2021
Accumulated benefit obligation	$	75.1	$	35.3	$	38.2	$	—	$	—	$	1.6
Plan assets	—		—		—		—		—		—
October 31, 2020
Accumulated benefit obligation	$	812.2	$	760.3	$	41.0	$	—	$	—	$	10.9
Plan assets	697.2		687.2		—		—		—		10.0

The actuarial (gain) loss for all pension plans was primarily related to a change in discount rates used to measure the benefit obligations of those plans.

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)
2022	$	59.0
2023	58.7
2024	58.5
2025	56.3
2026	56.8
2027-2031	288.9

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 included shares of the Company's common stock in the amount of 51,576 shares of Class A common stock and 30,930 shares of Class B common stock at October 31, 2020. During 2021, as part of a change in strategy for plan assets, all shares of Class A and Class B common stock were sold by the plan, and at October 31, 2021, the assets of the plans in the aggregate do not include shares of the Company's common stock.

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	2022 Target		2021 Target		2021 Actual
Equity securities	20	%	21	%	20	%
Debt securities	66	%	63	%	65	%
Other	14	%	16	%	15	%
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 6 of the Notes to the Consolidated Financial Statements.


For the year ended October 31, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	1,002.1	$	687.0	$	—	$	210.0	$	92.0	$	13.1
Actual return on plan assets	77.1		88.4		—		(9.8)		(3.1)		1.6
Expenses paid	(3.1)		(2.3)		—		(0.9)		0.2		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	12.5		—		—		12.4		(0.9)		1.0
Employer contributions	17.8		14.0		—		2.7		1.1		—
Benefits paid out of plan	(155.8)		(140.7)		—		(9.0)		(5.0)		(1.1)

Fair value of plan assets at end of year	$	950.8	$	646.4	$	—	$	205.4	$	84.5	$	14.5
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

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


	Fair Value Measurement
As of October 31, 2021 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
Mutual funds	$	87.4	$	128.5	$	—	$	215.9
Common stock	6.6		—		—		6.6
Cash	15.7		—		—		15.7

Corporate bonds	—		228.5		—		228.5
Government bonds	—		44.5		—		44.5
Other assets	—		1.0		—		1.0
Total Assets in the Fair Value Hierarchy	109.7		402.5		—		512.2
Investments Measured at Net Asset Value

Insurance contracts							122.9
Common stock funds							94.2
Corporate bond funds							209.2
Government bond funds							12.3
Investments at Fair Value	$	109.7	$	402.5	$	—	$	950.8

	Fair Value Measurement
As of October 31, 2020 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
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

Financial statement presentation including other comprehensive income:


As of October 31, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	87.2	$	29.9	$	11.9	$	36.2	$	4.4	$	4.8
Unrecognized prior service credit	(2.0)		(0.7)		—		—		(1.3)		—

Accumulated other comprehensive loss - Pre-tax	$	85.2	$	29.2	$	11.9	$	36.2	$	3.1	$	4.8
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	39.9	$	2.7	$	—	$	31.1	$	2.0	$	4.1
Accrued benefit liability	(78.3)		(35.5)		(39.3)		—		—		(3.5)
Accumulated other comprehensive loss - Pre-tax	85.2		29.2		11.9		36.2		3.1		4.8
Net amount recognized	$	46.8	$	(3.6)	$	(27.4)	$	67.3	$	5.1	$	5.4
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 - 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 - Pre-tax	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


(in millions)	October 31, 2021		October 31, 2020
Accumulated other comprehensive loss at beginning of year	$	150.6	$	172.6
Increase or (decrease) in accumulated other comprehensive loss

Net prior service benefit amortized	0.3		0.1
Net loss amortized	(12.6)		(13.2)


Loss recognized due to settlement	(9.1)		(0.3)

Liability loss	0.3		17.4
Asset gain	(45.3)		(27.4)
Other adjustments	(0.9)		—
Decrease in accumulated other comprehensive loss	(67.3)		(23.4)
Foreign currency impact	1.9		1.4
Accumulated other comprehensive loss at year end	$	85.2	$	150.6

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 in the U.S. 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 $21.9 million, $25.2 million and $21.8 million in 2021, 2020 and 2019, respectively.

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 loss (income) for its post-retirement benefit plans of $0.1 million, $(0.2) million and $(1.1) million for the years ended 2021, 2020 and 2019, respectively. The projected benefit obligation of the Company’s post-retirement benefit plans was $11.0 million and $11.6 million as of October 31, 2021 and 2020, respectively.

Benefits paid directly by the Company totaled $1.0 million, $0.9 million and $0.9 million for the years ending 2021, 2020 and 2019 respectively. Benefits paid directly by the Company during 2022 are expected to be approximately $1.3 million, .

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	12 Months Ended
CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	Oct. 31, 2021
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 will 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 Global Industrial Packaging reportable segment. The lawsuits include claims for severance for employment periods prior to the Company’s ownership in the business. As of October 31, 2021 and October 31, 2020, the estimated liability recorded related to these matters was 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, two 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, 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 16, 2021, no material citations have been issued or material fines assessed with respect to any violation of environmental laws and regulations. Although the Company anticipates paying a civil penalty to the U.S. EPA and WDNR, the amount is not expected to be material to the Company. 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 alleged that odors from this facility invaded their property and interfered with the use and enjoyment of their property and caused damage to the value of their property. In September 2021, the Milwaukee County Circuit Court approved a class action settlement of these claims. The cash settlement component of $0.8 million is expected to be paid in December 2021 into a fund for the benefit of class members. CLCM has also agreed to make capital improvements in an amount up to $0.5 million to the facility, subject to certain qualifications set forth in the agreement, to further reduce odor emissions. Environmental Reserves The Newark Group, Inc., a wholly-owned subsidiary of the Company ("Newark"), is subject to environmental and litigation liability related to contamination of the Lower Passaic River in New Jersey. 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 participated in an allocation process to determine its allocable share. During 2021, final report was issued that determined Newark as a low tier participant and share of the liability to be less than 1.0% that applies to the 17-miles of LPRSA. 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, 2021 and October 31, 2020, the Company has accrued $11.0 million and $11.1 million, respectively, 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, 2021 and October 31, 2020, the Company's environmental reserves were $19.5 million and $20.2 million, respectively, which include the LPRSA and Diamond Alkali Superfund Sites mentioned above. 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, 2021 and October 31, 2020 included $8.5 million and $9.1 million, respectively, for its various 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, 2021

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)	2021		2020		2019
Numerator
Numerator for basic and diluted EPS –
Net income attributable to Greif	$	390.7	$	108.8	$	171.0
Cash dividends	(105.8)		(104.3)		(104.0)
Undistributed net income attributable to Greif, Inc.	$	284.9	$	4.5	$	67.0
Denominator
Denominator for basic EPS –
Class A common stock	26.5		26.4		26.2
Class B common stock	22.0		22.0		22.0
Denominator for diluted EPS –
Class A common stock	26.7		26.4		26.2
Class B common stock	22.0		22.0		22.0
EPS Basic
Class A common stock	$	6.57	$	1.83	$	2.89
Class B common stock	$	9.84	$	2.74	$	4.33
EPS Diluted
Class A common stock	$	6.54	$	1.83	$	2.89
Class B common stock	$	9.84	$	2.74	$	4.33

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, 2021 and 2020, 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 2021 and 2020.

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, 2021:
Class A common stock	128,000,000	42,281,920	26,550,924	15,730,996
Class B common stock	69,120,000	34,560,000	22,007,725	12,552,275
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

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


	Year Ended October 31,
	2021	2020	2019
Class A Common Stock:
Basic shares	26,525,529	26,382,838	26,189,445
Assumed conversion of stock options and unvested shares	133,692	7,805	25,666
Diluted shares	26,659,221	26,390,643	26,215,111
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, 2021, 2020, or 2019.

LEASES

12 Months Ended

Oct. 31, 2021

Leases [Abstract]

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 21 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, 2021, the Company had no significant leases that had not commenced.

The following table presents the lease expense components:


	Year Ended
(in millions)	October 31, 2021		October 31, 2020
Operating lease cost	$	70.4	$	67.0
Other lease cost*	24.0		26.8
Total lease cost	$	94.4	$	93.8

*Amount includes variable, short-term and finance 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)	October 31, 2021
2022	$	69.2
2023	64.3
2024	56.3
2025	46.6
2026	40.7
Thereafter	142.3
Total lease payments	419.4
Less: Interest	(125.9)
Lease liabilities	$	293.5

The following table presents the weighted-average lease term and discount rate as of October 31, 2021 and October 31, 2020:


	October 31, 2021		October 31, 2020
Weighted-average remaining lease term (years) for operating lease liabilities	10.3		11.1
Weighted-average discount rate for operating lease liabilities	3.61	%	3.63	%

The following table presents other required lease related information:


(in millions)	October 31, 2021		October 31, 2020
Operating cash flows used for operating leases	$	70.2	$	69.4
Leased assets obtained in exchange for new operating lease liabilities	25.0		67.4

BUSINESS SEGMENT INFORMATION

12 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

During 2021, the Company made changes to the operational and financial management practices and procedures of the Rigid Industrial Packaging & Services and Flexible Products & Services reportable segments and combined the two reportable segments under a single global leadership team. These changes were made to enhance cross-selling and service offerings to customers within similar markets and enhance Greif Business System effectiveness. As a result of the changes, the Rigid Industrial Packaging & Services reportable segment and the Flexible Products & Services reportable segment have been combined into a single reportable segment known as Global Industrial Packaging.

Due to the changes described above, the Company has six operating segments, which are aggregated into three reportable segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. The Global Industrial Packaging reportable segment is the aggregation of four operating segments: Global Industrial Packaging – North America; Global Industrial Packaging – Latin America; Global Industrial Packaging – Europe, Middle East and Africa; and Global Industrial Packaging – Asia Pacific.

Operations in the Global Industrial Packaging reportable 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. These products and services are sold to customers in industries such as chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals and mineral products, among others. Additional operations of the Global Industrial Packaging reportable segment include production and sale of flexible intermediate bulk containers and related services on a global basis. These 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 intermediate bulk containers are sold to customers and in market segments similar to those of the other Global Industrial Packaging reportable segment, with an emphasis on customers in industries such as agriculture, construction and food industries.

Operations in the Paper Packaging & Services reportable 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 reportable segment is involved in the purchase and sale of recycled fiber.

Operations in the Land Management reportable segment involve the management and sale of timber and special use properties from approximately 175,000 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, 2021:


	Year Ended October 31, 2021
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	1,044.5	$	1,673.9	$	598.3	$	3,316.7
Paper Packaging & Services	2,182.0		—		36.4		2,218.4
Land Management	21.0		—		—		21.0
Total net sales	$	3,247.5	$	1,673.9	$	634.7	$	5,556.1

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
Global Industrial Packaging	$	842.2	$	1,288.8	$	440.8	$	2,571.8
Paper Packaging & Services	1,888.4		—		28.5		1,916.9
Land Management	26.3		—		—		26.3
Total net sales	$	2,756.9	$	1,288.8	$	469.3	$	4,515.0

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


(in millions)	2021		2020		2019
Operating profit:
Global Industrial Packaging	$	350.2	$	225.4	$	204.9
Paper Packaging & Services	131.0		71.0		184.3
Land Management	104.0		8.5		9.9
Total operating profit	$	585.2	$	304.9	$	399.1

Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	83.1	$	84.5	$	82.5
Paper Packaging & Services	148.0		153.5		119.3
Land Management	3.3		4.5		4.3
Total depreciation, depletion and amortization expense	$	234.4	$	242.5	$	206.1

Capital expenditures:
Global Industrial Packaging	$	71.1	$	55.8	$	58.4
Paper Packaging & Services	79.9		61.4		81.2
Land Management	0.2		0.2		0.2
Total segment	151.2		117.4		139.8
Corporate and other	11.0		12.6		17.1
Total capital expenditures	$	162.2	$	130.0	$	156.9

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


(in millions)	October 31, 2021		October 31, 2020		October 31, 2019
Assets:
Global Industrial Packaging	$	2,735.1	$	2,338.5	$	2,154.5
Paper Packaging & Services	2,506.5		2,524.3		2,686.3
Land Management	249.2		348.6		348.7
Total segment	5,490.8		5,211.4		5,189.5
Corporate and other	325.0		299.5		237.2
Total assets	$	5,815.8	$	5,510.9	$	5,426.7

Long lived assets, net*:
United States	$	1,321.8	$	1,345.8	$	1,295.8
Europe, Middle East, and Africa	374.5		377.6		277.1
Asia Pacific and other Americas	114.3		111.0		117.4
Total properties, plants and equipment, net	$	1,810.6	$	1,834.4	$	1,690.3
*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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: 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=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&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=123359005&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) (Loss)

12 Months Ended

Oct. 31, 2021

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

The following table provides the roll forward of accumulated other comprehensive income (loss) for the years ended October 31, 2021 and 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)
Other Comprehensive Income (Loss)	(0.5)		21.1		50.4		71.0

Balance as of October 31, 2021	$	(295.4)	$	(3.6)	$	(57.5)	$	(356.5)

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

REDEEMABLE NONCONTROLLING INTERESTS

12 Months Ended

Oct. 31, 2021

Noncontrolling Interest [Abstract]

REDEEMABLE NONCONTROLLING INTERESTS

Mandatorily Redeemable Noncontrolling Interests

The terms of the joint venture agreement for one joint venture within the Global Industrial Packaging reportable 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 noncontrolling interest to be classified as a mandatorily redeemable instrument under the accounting guidance, and this noncontrolling 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 mandatorily redeemable noncontrolling interest balance is $8.4 million as of October 31, 2021 and October 31, 2020 .

Redeemable Noncontrolling Interests

Redeemable noncontrolling interests related to two joint ventures within the Paper Packaging & Services reportable segment and one joint venture within the Global Industrial Packaging reportable 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.

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, 2021 and 2020:


(in millions)	Redeemable Noncontrolling Interest
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
Current period mark to redemption value	2.6

Redeemable noncontrolling interest share of income and other	2.4
Dividends to redeemable noncontrolling interest and other	(0.9)
Balance as of October 31, 2021	$	24.1

DISPOSALS OF TIMBERLAND	12 Months Ended
DISPOSALS OF TIMBERLAND	Oct. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
DISPOSALS OF TIMBERLAND	DISPOSALS OF TIMBERLANDDuring the second quarter of 2021, the Company sold approximately 69,200 acres of its Alabama timberland properties to Weyerhaeuser Company for approximately $145.1 million in cash, after deducting $4.3 million in closing costs. Cash proceeds were applied toward debt repayment. As a result of the sale of the Alabama timberland properties, the Company recorded a gain of $95.7 million.

SCHEDULE II - Consolidated Valuation and Qualifying Accounts and Reserves

12 Months Ended

Oct. 31, 2021

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, 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

Year ended October 31, 2021:
Allowance for doubtful accounts	$	9.4	$	2.9	$	(6.2)	$	—	$	6.1

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Oct. 31, 2021

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, 2021.

Principles of Consolidation and Basis of Presentation

Use of Estimates

•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.

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			10-15
Customer relationships			5-23
Non-compete agreements			3-10
Other intangibles			7-15

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
Machinery and equipment			10-15

respective depletion block. For the years ended October 31, 2021, 2020 and 2019, the Company's depletion expense was not material.

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 6 and Note 9 of the Notes to the consolidated financial statements.

Newly Adopted and Recently Issued Accounting Standards

Newly Adopted Accounting Standards

Recently Issued Accounting Standards

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2021

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			10-15
Customer relationships			5-23
Non-compete agreements			3-10
Other intangibles			7-15

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
Machinery and equipment			10-15

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Oct. 31, 2021

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 reportable segment for the years ended October 31, 2021 and 2020:


(in millions)	Global Industrial Packaging (1)		Paper Packaging & Services		Total
Balance at October 31, 2019	$	731.7	$	786.1	$	1,517.8

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

Goodwill allocated to divestitures and businesses held for sale	(0.4)		—		(0.4)
Goodwill adjustments	(0.2)		—		(0.2)

Currency translation	(2.6)		0.2		(2.4)
Balance at October 31, 2021	$	747.3	$	768.1	$	1,515.4

(1)Accumulated goodwill impairment loss was $63.3 million as of October 31, 2021, 2020 and 2019, related to the Global Industrial Packaging reportable segment.

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, 2021 and 2020:


(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
October 31, 2021:
Indefinite lived:
Trademarks and patents	$	13.4	$	—	$	13.4
Definite lived:
Customer relationships	887.0		259.4		627.6
Trademarks and patents	27.3		20.8		6.5
Non-compete agreements	0.7		0.6		0.1
Other	1.8		1.0		0.8
Total	$	930.2	$	281.8	$	648.4

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

RESTRUCTURING CHARGES (Tables)

12 Months Ended

Oct. 31, 2021

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, 2021 and 2020:


(in millions)	Employee Separation Costs		Other Costs		Total
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
Costs incurred and charged to expense	14.9		8.2		23.1
Costs paid or otherwise settled	(14.2)		(10.2)		(24.4)
Balance at October 31, 2021	$	18.6	$	1.7	$	20.3

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, 2021		Amounts Remaining to be Incurred
Global Industrial Packaging:
Employee separation costs	$	19.5	$	13.7	5.8
Other restructuring costs	5.8		3.4		2.4
	25.3		17.1		8.2
Paper Packaging & Services:
Employee separation costs	1.4		1.1		0.3
Other restructuring costs	7.1		4.8		2.3
	8.5		5.9		2.6
Land Management:
Employee separation costs	0.1		0.1		—

	0.1		0.1		—
Total	$	33.9	$	23.1	$	10.8

CONSOLIDATION OF VARIABLE INTEREST ENTITIES (Tables)

12 Months Ended

Oct. 31, 2021

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, 2021		October 31, 2020
Cash and cash equivalents	$	19.6	$	19.0
Trade accounts receivable, less allowance of $0.4 in 2021 and $0.7 in 2020	59.0		47.5
Inventories	58.5		36.0
Properties, plants and equipment, net	25.8		22.8
Other assets	25.1		20.3
Total assets	$	188.0	$	145.6

Accounts payable	$	45.3	$	29.4
Other liabilities	40.7		22.8
Total liabilities	$	86.0	$	52.2

Schedule of Total Net Assets of Paper Packaging JV

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


(in millions)	October 31, 2021		October 31, 2020
Cash and cash equivalents	$	5.9	$	—
Trade accounts receivable, less allowance of $0.0 in 2021 and $0.0 in 2020	9.4		5.5
Inventories	10.8		6.3
Properties, plants and equipment, net	31.1		34.3
Other assets	0.5		0.6
Total assets	$	57.7	$	46.7

Accounts payable	3.4		5.2
Other liabilities	1.7		1.3
Total liabilities	$	5.1	$	6.5

LONG-TERM DEBT (Tables)

12 Months Ended

Oct. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt is summarized as follows:


(in millions)	October 31, 2021		October 31, 2020
2019 Credit Agreement - Term Loans	$	1,247.3	$	1,429.8
Senior Notes due 2027	495.9		495.1
Senior Notes due 2021	—		234.8
Accounts receivable credit facilities	391.1		310.0
2019 Credit Agreement - Revolving Credit Facility	50.5		—
Other debt	0.6		—
	2,185.4		2,469.7
Less current portion	120.3		123.1
Less deferred financing costs	10.3		11.1
Long-term debt, net	$	2,054.8	$	2,335.5

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Oct. 31, 2021

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, 2021 and 2020:


	October 31, 2021
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	7.6	$	—	$	7.6	$	—	$	(16.8)	$	—	$	(16.8)
Foreign exchange hedges	—		0.1		—		0.1		—		(0.1)		—		(0.1)
Insurance annuity	—		—		20.9		20.9		—		—		—		—
Cross currency swap	—		10.2		—		10.2		—		(1.2)		—		(1.2)

	October 31, 2020
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	—	$	—	$	—	$	—	$	(37.9)	$	—	$	(37.9)
Foreign exchange hedges	—		1.5		—		1.5		—		(1.6)		—		(1.6)
Insurance annuity	—		—		21.4		21.4		—		—		—		—
Cross currency swap	—		8.9		—		8.9		—		—		—		—

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 due 2027:


(in millions)	October 31, 2021		October 31, 2020
Senior Notes due 2027 estimated fair value	$	520.0	$	524.4

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, 2021

Impairment of Net Assets Held for Sale

1.0

Indicative Bids

N/A

Impairment of Long Lived Assets

7.9

Discounted Cash Flows, Indicative Bids

N/A

Total

8.9

October 31, 2020

Impairment of Long Lived Assets

18.5

Discounted Cash Flows, Indicative Bids

N/A

Total

18.5

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Oct. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Nonvested Restricted Stock Units Activity

The Company has made the following grants of RSUs under the 2020 LTIP:

Issuance Date

December 17, 2020

February 25, 2020

Service Period

11/1/2020 - 10/31/2023

11/1/2019 - 10/31/2022

RSUs Granted

139,360

147,325

Weighted Average Fair Value of RSUs

$48.50

$37.42

Schedule of Valuation Assumptions

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


Issuance Date	December 17, 2020	February 25, 2020
Performance Period	11/1/2020 - 10/31/2023	11/1/2019 - 10/31/2022
PSUs Issued	253,102	258,519
Weighted Average Fair Value of PSUs at Issuance Date	$47.26	$35.58
Weighted Average Fair Value of PSUs at Valuation Date	$67.97	$73.50
Valuation Date Stock Price	$64.94	$64.94
Risk-Free Rate	0.5%	0.1%
Estimated Volatility	40.2%	31.0%

INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2021

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)	2021		2020		2019
Current
Federal	$	45.0	$	(9.7)	$	26.6
State and local	15.5		3.3		6.1
Non-U.S.	56.3		53.0		35.9
Total Current	116.8		46.6		68.6
Deferred
Federal	(33.0)		7.9		2.1
State and local	(9.9)		10.2		0.9
Non-U.S.	(4.3)		(1.4)		(0.9)
Total Deferred	(47.2)		16.7		2.1
Tax expense	$	69.6	$	63.3	$	70.7

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,
	2021		2020		2019
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	0.70	%	0.49	%	0.10	%
State and local taxes, net of federal tax benefit	0.93	%	5.71	%	1.99	%
Net impact of changes in valuation allowances	(2.57)	%	(15.23)	%	2.41	%

Non-deductible write-off and impairment of goodwill and other intangible assets	—	%	4.02	%	0.29	%
Return to provision	(2.73)	%	(1.85)	%	(1.27)	%
Permanent book-tax differences	0.86	%	16.56	%	(0.87)	%
Withholding taxes	2.86	%	5.28	%	2.43	%
Tax credits	(1.56)	%	(2.60)	%	(3.33)	%
Capital losses	(5.70)	%	(6.34)	%	—	%
Other items, net	0.73	%	6.97	%	4.23	%
Company's effective income tax rate	14.52	%	34.01	%	26.98	%

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)	2021		2020
Deferred tax assets
Net operating loss and other carryforwards	$	149.0	$	179.3

Pension liabilities	—		12.9

Incentive liabilities	16.2		8.2
Workers compensation accruals	10.5		10.0

Inventories	6.4		7.8
Operating lease liabilities	74.4		76.9
State income taxes	11.6		10.2
Other reserves	18.4		21.0
Deferred compensation	2.2		2.4
Other	36.1		28.5





Total deferred tax assets	324.8		357.2
Valuation allowance	(132.7)		(146.4)
Net deferred tax assets	$	192.1	$	210.8

Deferred tax liabilities
Properties, plants and equipment	$	134.9	$	158.1
Operating lease assets	74.4		76.9
Timberland transactions	51.0		74.2
Goodwill and other intangible assets	190.2		200.2


Pension liabilities	4.5		—
Other	38.4		29.3
Total deferred tax liabilities	493.4		538.7
Net deferred tax liability	$	301.3	$	327.9

Schedule of Reconciliation of Unrecognized Tax Benefits

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


(in millions)	2021		2020		2019
Balance of unrecognized tax benefit at November 1	$	36.0	$	38.8	$	36.2
Increases in tax positions for prior years	1.2		10.1		5.1
Decreases in tax positions for prior years	—		(10.5)		(0.7)
Increases in tax positions for current years	1.7		2.6		4.3
Settlements with taxing authorities	—		—		(3.6)
Lapse in statute of limitations	(8.0)		(5.5)		(2.0)
Currency translation	0.1		0.5		(0.5)
Balance at October 31	$	31.0	$	36.0	$	38.8

POST-RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Oct. 31, 2021

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, 2021	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	3,603	1,733	30	—	60	1,780
Vested former employees and deferred members	3,468	2,881	79	366	107	35
Retirees and beneficiaries	3,306	1,962	276	662	354	52

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

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,	2021		2020
Discount rate	2.55	%	2.48	%
Rate of compensation increase	2.96	%	2.91	%

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,	2021		2020		2019
Discount rate	2.48	%	2.74	%	3.48	%
Expected Return on plan assets	3.87	%	4.64	%	4.12	%
Rate of compensation increase	2.91	%	2.85	%	2.85	%

Schedule of Components Of Net Periodic Pension Cost

The components of net periodic pension cost include the following:


For the year ended October 31, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	12.1	$	10.7	$	0.3	$	0.5	$	0.5	$	0.1
Interest cost	18.8		15.4		0.3		2.5		0.4		0.2
Expected return on plan assets	(31.8)		(25.8)		—		(4.6)		(0.7)		(0.7)
Amortization of prior service benefit	(0.3)		(0.1)		—		—		(0.2)		—
Recognized net actuarial loss	12.6		10.1		1.3		1.1		—		0.1
Special Events
Settlement	9.1		8.8		—		0.3		—		—
Net periodic pension (benefit) cost	$	20.5	$	19.1	$	1.9	$	(0.2)	$	—	$	(0.3)
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)		—

Other Adjustments	7.1		5.0		0.9		1.2		—		—


Net periodic pension (benefit) cost	$	13.3	$	12.5	$	1.7	$	(0.5)	$	—	$	(0.4)

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, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	1,110.3	$	782.0	$	42.1	$	184.6	$	90.9	$	10.7
Service cost	12.1		10.7		0.3		0.5		0.5		0.1
Interest cost	18.8		15.4		0.3		2.5		0.4		0.2
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(3.1)		(2.3)		—		(0.9)		0.2		(0.1)
Actuarial loss (gain)	0.3		17.1		(1.5)		(11.1)		(3.8)		(0.4)
Foreign currency effect	9.8		—		(0.4)		10.9		(0.9)		0.2
Benefits paid	(159.9)		(143.3)		(1.5)		(9.0)		(5.0)		(1.1)


Other	0.7		—		—		(3.4)		—		4.1
Benefit obligation at end of year	$	989.2	$	679.6	$	39.3	$	174.1	$	82.5	$	13.7
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

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:


(in millions)	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
Actuarial value of benefit obligations and plan assets
October 31, 2021
Projected benefit obligation	$	989.2	$	679.6	$	39.3	$	174.1	$	82.5	$	13.7
Accumulated benefit obligation	961.0		655.4		38.2		174.1		81.2		12.1
Plan assets	950.8		646.4		—		205.4		84.5		14.5
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
Plans with ABO in excess of Plan assets
October 31, 2021
Accumulated benefit obligation	$	75.1	$	35.3	$	38.2	$	—	$	—	$	1.6
Plan assets	—		—		—		—		—		—
October 31, 2020
Accumulated benefit obligation	$	812.2	$	760.3	$	41.0	$	—	$	—	$	10.9
Plan assets	697.2		687.2		—		—		—		10.0

Schedule of Future Benefit Payments Next Five Years and Thereafter


(in millions)	Expected Benefit Payments
Year(s)
2022	$	59.0
2023	58.7
2024	58.5
2025	56.3
2026	56.8
2027-2031	288.9

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	2022 Target		2021 Target		2021 Actual
Equity securities	20	%	21	%	20	%
Debt securities	66	%	63	%	65	%
Other	14	%	16	%	15	%
Total	100	%	100	%	100	%

Schedule of Fair Value of the Pension Plans Investments


For the year ended October 31, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	1,002.1	$	687.0	$	—	$	210.0	$	92.0	$	13.1
Actual return on plan assets	77.1		88.4		—		(9.8)		(3.1)		1.6
Expenses paid	(3.1)		(2.3)		—		(0.9)		0.2		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	12.5		—		—		12.4		(0.9)		1.0
Employer contributions	17.8		14.0		—		2.7		1.1		—
Benefits paid out of plan	(155.8)		(140.7)		—		(9.0)		(5.0)		(1.1)

Fair value of plan assets at end of year	$	950.8	$	646.4	$	—	$	205.4	$	84.5	$	14.5
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

Schedule of Fair Value Measurements for Pension Assets

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


	Fair Value Measurement
As of October 31, 2021 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
Mutual funds	$	87.4	$	128.5	$	—	$	215.9
Common stock	6.6		—		—		6.6
Cash	15.7		—		—		15.7

Corporate bonds	—		228.5		—		228.5
Government bonds	—		44.5		—		44.5
Other assets	—		1.0		—		1.0
Total Assets in the Fair Value Hierarchy	109.7		402.5		—		512.2
Investments Measured at Net Asset Value

Insurance contracts							122.9
Common stock funds							94.2
Corporate bond funds							209.2
Government bond funds							12.3
Investments at Fair Value	$	109.7	$	402.5	$	—	$	950.8

	Fair Value Measurement
As of October 31, 2020 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
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

Schedule of Amounts Recognized in Consolidated Financial Statements

Financial statement presentation including other comprehensive income:


As of October 31, 2021	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	87.2	$	29.9	$	11.9	$	36.2	$	4.4	$	4.8
Unrecognized prior service credit	(2.0)		(0.7)		—		—		(1.3)		—

Accumulated other comprehensive loss - Pre-tax	$	85.2	$	29.2	$	11.9	$	36.2	$	3.1	$	4.8
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	39.9	$	2.7	$	—	$	31.1	$	2.0	$	4.1
Accrued benefit liability	(78.3)		(35.5)		(39.3)		—		—		(3.5)
Accumulated other comprehensive loss - Pre-tax	85.2		29.2		11.9		36.2		3.1		4.8
Net amount recognized	$	46.8	$	(3.6)	$	(27.4)	$	67.3	$	5.1	$	5.4
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 - 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 - Pre-tax	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


(in millions)	October 31, 2021		October 31, 2020
Accumulated other comprehensive loss at beginning of year	$	150.6	$	172.6
Increase or (decrease) in accumulated other comprehensive loss

Net prior service benefit amortized	0.3		0.1
Net loss amortized	(12.6)		(13.2)


Loss recognized due to settlement	(9.1)		(0.3)

Liability loss	0.3		17.4
Asset gain	(45.3)		(27.4)
Other adjustments	(0.9)		—
Decrease in accumulated other comprehensive loss	(67.3)		(23.4)
Foreign currency impact	1.9		1.4
Accumulated other comprehensive loss at year end	$	85.2	$	150.6

EARNINGS PER SHARE (Tables)

12 Months Ended

Oct. 31, 2021

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)	2021		2020		2019
Numerator
Numerator for basic and diluted EPS –
Net income attributable to Greif	$	390.7	$	108.8	$	171.0
Cash dividends	(105.8)		(104.3)		(104.0)
Undistributed net income attributable to Greif, Inc.	$	284.9	$	4.5	$	67.0
Denominator
Denominator for basic EPS –
Class A common stock	26.5		26.4		26.2
Class B common stock	22.0		22.0		22.0
Denominator for diluted EPS –
Class A common stock	26.7		26.4		26.2
Class B common stock	22.0		22.0		22.0
EPS Basic
Class A common stock	$	6.57	$	1.83	$	2.89
Class B common stock	$	9.84	$	2.74	$	4.33
EPS Diluted
Class A common stock	$	6.54	$	1.83	$	2.89
Class B common stock	$	9.84	$	2.74	$	4.33

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, 2021:
Class A common stock	128,000,000	42,281,920	26,550,924	15,730,996
Class B common stock	69,120,000	34,560,000	22,007,725	12,552,275
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

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,
	2021	2020	2019
Class A Common Stock:
Basic shares	26,525,529	26,382,838	26,189,445
Assumed conversion of stock options and unvested shares	133,692	7,805	25,666
Diluted shares	26,659,221	26,390,643	26,215,111
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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-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21484-112644

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

LEASES - (Tables)

12 Months Ended

Oct. 31, 2021

Leases [Abstract]

Components of Lease Expense

The following table presents the lease expense components:


	Year Ended
(in millions)	October 31, 2021		October 31, 2020
Operating lease cost	$	70.4	$	67.0
Other lease cost*	24.0		26.8
Total lease cost	$	94.4	$	93.8

*Amount includes variable, short-term and finance lease costs.

The following table presents other required lease related information:


(in millions)	October 31, 2021		October 31, 2020
Operating cash flows used for operating leases	$	70.2	$	69.4
Leased assets obtained in exchange for new operating lease liabilities	25.0		67.4

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)	October 31, 2021
2022	$	69.2
2023	64.3
2024	56.3
2025	46.6
2026	40.7
Thereafter	142.3
Total lease payments	419.4
Less: Interest	(125.9)
Lease liabilities	$	293.5

Schedule of Weighted-Average Lease Term and Discount Rate

The following table presents the weighted-average lease term and discount rate as of October 31, 2021 and October 31, 2020:


	October 31, 2021		October 31, 2020
Weighted-average remaining lease term (years) for operating lease liabilities	10.3		11.1
Weighted-average discount rate for operating lease liabilities	3.61	%	3.63	%

BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

Oct. 31, 2021

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, 2021:


	Year Ended October 31, 2021
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	1,044.5	$	1,673.9	$	598.3	$	3,316.7
Paper Packaging & Services	2,182.0		—		36.4		2,218.4
Land Management	21.0		—		—		21.0
Total net sales	$	3,247.5	$	1,673.9	$	634.7	$	5,556.1

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
Global Industrial Packaging	$	842.2	$	1,288.8	$	440.8	$	2,571.8
Paper Packaging & Services	1,888.4		—		28.5		1,916.9
Land Management	26.3		—		—		26.3
Total net sales	$	2,756.9	$	1,288.8	$	469.3	$	4,515.0

Schedule of Segment Information

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


(in millions)	2021		2020		2019
Operating profit:
Global Industrial Packaging	$	350.2	$	225.4	$	204.9
Paper Packaging & Services	131.0		71.0		184.3
Land Management	104.0		8.5		9.9
Total operating profit	$	585.2	$	304.9	$	399.1

Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	83.1	$	84.5	$	82.5
Paper Packaging & Services	148.0		153.5		119.3
Land Management	3.3		4.5		4.3
Total depreciation, depletion and amortization expense	$	234.4	$	242.5	$	206.1

Capital expenditures:
Global Industrial Packaging	$	71.1	$	55.8	$	58.4
Paper Packaging & Services	79.9		61.4		81.2
Land Management	0.2		0.2		0.2
Total segment	151.2		117.4		139.8
Corporate and other	11.0		12.6		17.1
Total capital expenditures	$	162.2	$	130.0	$	156.9

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

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


(in millions)	October 31, 2021		October 31, 2020		October 31, 2019
Assets:
Global Industrial Packaging	$	2,735.1	$	2,338.5	$	2,154.5
Paper Packaging & Services	2,506.5		2,524.3		2,686.3
Land Management	249.2		348.6		348.7
Total segment	5,490.8		5,211.4		5,189.5
Corporate and other	325.0		299.5		237.2
Total assets	$	5,815.8	$	5,510.9	$	5,426.7

Long lived assets, net*:
United States	$	1,321.8	$	1,345.8	$	1,295.8
Europe, Middle East, and Africa	374.5		377.6		277.1
Asia Pacific and other Americas	114.3		111.0		117.4
Total properties, plants and equipment, net	$	1,810.6	$	1,834.4	$	1,690.3
*includes impact of capitalization of operating lease assets

COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Oct. 31, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides the roll forward of accumulated other comprehensive income (loss) for the years ended October 31, 2021 and 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)
Other Comprehensive Income (Loss)	(0.5)		21.1		50.4		71.0

Balance as of October 31, 2021	$	(295.4)	$	(3.6)	$	(57.5)	$	(356.5)

REDEEMABLE NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Oct. 31, 2021

Noncontrolling Interest [Abstract]

Schedule of Redeemable Noncontrolling Interest

The following table provides the rollforward of the redeemable noncontrolling interest for the years ended October 31, 2021 and 2020:


(in millions)	Redeemable Noncontrolling Interest
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
Current period mark to redemption value	2.6

Redeemable noncontrolling interest share of income and other	2.4
Dividends to redeemable noncontrolling interest and other	(0.9)
Balance as of October 31, 2021	$	24.1

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) employee in Thousands	12 Months Ended
	Oct. 31, 2021 USD ($) a employee country productClass block affiliate	Oct. 31, 2020 USD ($)	Oct. 31, 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
Allowance for trade accounts receivable	$ 6,100,000	$ 9,400,000
Investment in short term financial instruments, term	3 months
Losses on short term investments	$ 0	0	$ 0
Depreciation expense on properties, plants and equipment	$ 164,600,000	169,100,000	$ 149,000,000
Measurement area of timber properties in the south eastern United States which are actively managed in acres \| a	175,000
Number of product classes (class) \| productClass	5
Number of depletion blocks (block) \| block	5
Self insurance reserve	$ 7,400,000	7,200,000
Liabilities for anticipated costs	$ 24,000,000	$ 24,700,000
Number of affiliates in which company has equity interest \| affiliate	3
Software and Software Development Costs
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	3 years
Timber Properties \| Minimum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	10 years
Timber Properties \| Maximum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	20 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Amortization Expense on Other Intangible Assets (Details)	12 Months Ended
	Oct. 31, 2021
Minimum \| Trade names
Finite-Lived Intangible Assets [Line Items]
Useful life	10 years
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	3 years
Minimum \| Other intangibles
Finite-Lived Intangible Assets [Line Items]
Useful life	7 years
Maximum \| Trade names
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years
Maximum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life	23 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	15 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Depreciation on Properties, Plants and Equipment (Details)	12 Months Ended
	Oct. 31, 2021
Buildings
Property, Plant and Equipment [Line Items]
Useful life	30 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life	10 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life	15 years

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Goodwill [Roll Forward]
Goodwill beginning balance	$ 1,518.4	$ 1,517.8
Goodwill allocated to divestitures and businesses held for sale	(0.4)	(36.3)
Goodwill adjustments related to acquisitions	(0.2)	18.5
Currency translation	(2.4)	18.4
Goodwill ending balance	1,515.4	1,518.4
Accumulated goodwill impairment loss	63.3	63.3	$ 63.3
Global Industrial Packaging
Goodwill [Roll Forward]
Goodwill beginning balance	750.5	731.7
Goodwill allocated to divestitures and businesses held for sale	(0.4)	(0.7)
Goodwill adjustments related to acquisitions	(0.2)	1.1
Currency translation	(2.6)	18.4
Goodwill ending balance	747.3	750.5
Paper Packaging & Services
Goodwill [Roll Forward]
Goodwill beginning balance	767.9	786.1
Goodwill allocated to divestitures and businesses held for sale	0.0	(35.6)
Goodwill adjustments related to acquisitions	0.0	17.4
Currency translation	0.2	0.0
Goodwill ending balance	$ 768.1	$ 767.9

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Goodwill [Line Items]
Increase (decrease) in gross intangible assets	$ (25.1)
Impairment of intangible assets, finite-lived	25.1
Amortization expense	66.9	$ 69.1	$ 53.2
Future amortization expense, 2022	59.6
Future amortization expense, 2023	56.9
Future amortization expense, 2024	53.6
Future amortization expense, 2025	51.0
Future amortization expense, 2026	50.3
Value of infinite lived intangible trademarks and trade names related to Blagden Express, Closed-loop, Box Board and Fustiplast	13.4
Caraustar
Goodwill [Line Items]
Increase intangible assets	0.3
Tholu B.V.
Goodwill [Line Items]
Increase intangible assets	$ 0.3

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Carrying Amount of Net Intangible Assets by Class (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	$ 13.4
Gross Intangible Assets	930.2	$ 955.3
Accumulated Amortization	281.8	240.0
Net Intangible Assets	648.4	715.3
Customer relationships
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	887.0	891.8
Accumulated Amortization	259.4	204.9
Net Intangible Assets	627.6	686.9
Trademarks and patents
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	27.3	27.4
Accumulated Amortization	20.8	14.9
Net Intangible Assets	6.5	12.5
Non-compete agreements
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	0.7	1.7
Accumulated Amortization	0.6	1.2
Net Intangible Assets	0.1	0.5
Other
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible Assets	1.8	20.9
Accumulated Amortization	1.0	19.0
Net Intangible Assets	0.8	1.9
Trademarks and patents
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	$ 13.4	$ 13.5

RESTRUCTURING CHARGES - Reconciliation of Beginning and Ended Restructuring Reserve Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Restructuring Reserve [Roll Forward]
Beginning balance	$ 21.6	$ 11.3
Costs incurred and charged to expense	23.1	38.7	$ 26.1
Costs paid or otherwise settled	(24.4)	(28.4)
Ending balance	20.3	21.6	11.3
Employee Separation Costs
Restructuring Reserve [Roll Forward]
Beginning balance	17.9	9.5
Costs incurred and charged to expense	14.9	26.4	22.5
Costs paid or otherwise settled	(14.2)	(18.0)
Ending balance	18.6	17.9	9.5
Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	3.7	1.8
Costs incurred and charged to expense	8.2	12.3	3.6
Costs paid or otherwise settled	(10.2)	(10.4)
Ending balance	$ 1.7	$ 3.7	$ 1.8

RESTRUCTURING CHARGES - Additional Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021 USD ($) employee plant	Oct. 31, 2020 USD ($) employee plant	Oct. 31, 2019 USD ($) employee plant
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 23.1	$ 38.7	$ 26.1
Number of employees severed (employee) \| employee	177	658	430
Amounts Remaining to be Incurred	$ 10.8
Global Industrial Packaging
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 17.1
Number of plants closed (plant) \| plant	5	16	12
Amounts Remaining to be Incurred	$ 8.2
Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	14.9	$ 26.4	$ 22.5
Employee Separation Costs \| Global Industrial Packaging
Restructuring Cost and Reserve [Line Items]
Restructuring charges	13.7
Amounts Remaining to be Incurred	5.8
Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8.2	$ 12.3	$ 3.6
Other Costs \| Global Industrial Packaging
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.4
Amounts Remaining to be Incurred	$ 2.4

RESTRUCTURING CHARGES - Reconciliation of Total Amounts Expected to be Incurred from Open Restructuring Plans Anticipated to be Realized (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	$ 33.9
Amounts Incurred During the year ended October 31, 2021	23.1	$ 38.7	$ 26.1
Amounts Remaining to be Incurred	10.8
Employee Separation Costs
Restructuring and Related Cost [Abstract]
Amounts Incurred During the year ended October 31, 2021	14.9	26.4	22.5
Other restructuring costs
Restructuring and Related Cost [Abstract]
Amounts Incurred During the year ended October 31, 2021	8.2	$ 12.3	$ 3.6
Global Industrial Packaging
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	25.3
Amounts Incurred During the year ended October 31, 2021	17.1
Amounts Remaining to be Incurred	8.2
Global Industrial Packaging \| Employee Separation Costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	19.5
Amounts Incurred During the year ended October 31, 2021	13.7
Amounts Remaining to be Incurred	5.8
Global Industrial Packaging \| Other restructuring costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	5.8
Amounts Incurred During the year ended October 31, 2021	3.4
Amounts Remaining to be Incurred	2.4
Paper Packaging & Services
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	8.5
Amounts Incurred During the year ended October 31, 2021	5.9
Amounts Remaining to be Incurred	2.6
Paper Packaging & Services \| Employee Separation Costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	1.4
Amounts Incurred During the year ended October 31, 2021	1.1
Amounts Remaining to be Incurred	0.3
Paper Packaging & Services \| Other restructuring costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	7.1
Amounts Incurred During the year ended October 31, 2021	4.8
Amounts Remaining to be Incurred	2.3
Land Management
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	0.1
Amounts Incurred During the year ended October 31, 2021	0.1
Amounts Remaining to be Incurred	0.0
Land Management \| Employee Separation Costs
Restructuring and Related Cost [Abstract]
Total Amounts Expected to be Incurred	0.1
Amounts Incurred During the year ended October 31, 2021	0.1
Amounts Remaining to be Incurred	$ 0.0

CONSOLIDATION OF VARIABLE INTEREST ENTITIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Variable Interest Entity [Line Items]
Net income (loss) attributable to noncontrolling interests	$ 22.5	$ 15.5	$ 23.2
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%
Maximum
Variable Interest Entity [Line Items]
Committed capital contribution	$ 150.0
Paper Packaging JV \| Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Net loss related to interest expense	0.5	(1.8)	(0.1)
Flexible Packaging JV
Variable Interest Entity [Line Items]
Net income (loss) attributable to noncontrolling interests	7.9	$ 6.4	$ 12.4
Third Party \| Maximum
Variable Interest Entity [Line Items]
Committed capital contribution	$ 150.0

CONSOLIDATION OF VARIABLE INTEREST ENTITIES - Total Net Assets of Flexible Packaging JV (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 124.6	$ 105.9
Trade accounts receivable, less allowance of $0.4 in 2021 and $0.7 in 2020	889.5	636.6
Allowance of trade accounts receivable	6.1	9.4
Properties, plants and equipment, net	1,521.2	1,526.9
Total assets	5,815.8	5,510.9	$ 5,426.7
Accounts payable	704.5	450.7
Variable Interest Entity, Primary Beneficiary \| Flexible Packaging JV
Variable Interest Entity [Line Items]
Cash and cash equivalents	19.6	19.0
Trade accounts receivable, less allowance of $0.4 in 2021 and $0.7 in 2020	59.0	47.5
Inventories	58.5	36.0
Properties, plants and equipment, net	25.8	22.8
Other assets	25.1	20.3
Total assets	188.0	145.6
Accounts payable	45.3	29.4
Other liabilities	40.7	22.8
Total liabilities	86.0	52.2
Flexible Packaging JV
Variable Interest Entity [Line Items]
Allowance of trade accounts receivable	$ 0.4	$ 0.7

CONSOLIDATION OF VARIABLE INTEREST ENTITIES - Schedule of Total Net Assets of Paper Packaging JV (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 124.6	$ 105.9
Trade accounts receivable, less allowance of $0.0 in 2021 and $0.0 in 2020	889.5	636.6
Allowance for trade accounts receivable	6.1	9.4
Properties, plants and equipment, net	1,521.2	1,526.9
Total assets	5,815.8	5,510.9	$ 5,426.7
Accounts payable	704.5	450.7
Paper Packaging JV
Variable Interest Entity [Line Items]
Allowance for trade accounts receivable	0.0	0.0
Variable Interest Entity, Primary Beneficiary \| Paper Packaging JV
Variable Interest Entity [Line Items]
Cash and cash equivalents	5.9	0.0
Trade accounts receivable, less allowance of $0.0 in 2021 and $0.0 in 2020	9.4	5.5
Inventories	10.8	6.3
Properties, plants and equipment, net	31.1	34.3
Other assets	0.5	0.6
Total assets	57.7	46.7
Accounts payable	3.4	5.2
Other liabilities	1.7	1.3
Total liabilities	$ 5.1	$ 6.5

LONG-TERM DEBT - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 2,185.4	$ 2,469.7
Less current portion	120.3	123.1
Less deferred financing costs	10.3	11.1
Long-term debt, net	2,054.8	2,335.5
2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Long-term debt	1,297.8
Other debt
Debt Instrument [Line Items]
Long-term debt	0.6	0.0
Term Loan \| 2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Long-term debt	1,247.3	1,429.8
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	391.1	310.0
Revolving Credit Facility \| 2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Long-term debt	50.5	0.0
Less current portion	120.3
Long-term debt, net	1,177.5
Senior Notes \| Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt	495.9	495.1
Senior Notes \| Senior Notes due 2021
Debt Instrument [Line Items]
Long-term debt	$ 0.0	$ 234.8

LONG-TERM DEBT - Credit Agreement (Details) - USD ($)	Oct. 31, 2021	Oct. 31, 2020	Feb. 11, 2019
Debt Instrument [Line Items]
Amount outstanding under Prior Credit Agreement	$ 2,185,400,000	$ 2,469,700,000
Current portion of long-term debt	120,300,000	123,100,000
Long-term debt	2,054,800,000	2,335,500,000
2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Amount of debt			$ 475,000,000
Amount outstanding under Prior Credit Agreement	1,297,800,000
Secured Term Loan A-1 Facility
Debt Instrument [Line Items]
Amount of debt			1,275,000,000
Secured Term Loan A-3 Facility
Debt Instrument [Line Items]
Amount of debt			225,000,000
Secured Term Loan A-2 Facility
Debt Instrument [Line Items]
Amount of debt			400,000,000
Revolving Credit Facility \| 2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Credit facility borrowing capacity			800,000,000
Amount outstanding under Prior Credit Agreement	50,500,000	$ 0
Current portion of long-term debt	120,300,000
Long-term debt	$ 1,177,500,000
Weighted average interest rate on the prior credit agreement	1.81%
Actual interest rate on the prior credit agreement	1.41%
Debt issuance costs	$ 4,200,000
Revolving Credit Facility \| Multicurrency Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity			600,000,000
Revolving Credit Facility \| U.S. Dollar Facility
Debt Instrument [Line Items]
Credit facility borrowing capacity			$ 200,000,000
Term Loan \| 2019 Credit Agreement - Term Loans
Debt Instrument [Line Items]
Debt issuance costs	$ 8,400,000

LONG-TERM DEBT - Senior Notes (Details) - Senior Notes due 2027 - Senior Notes - USD ($)	Oct. 31, 2021	Feb. 11, 2019
Debt Instrument [Line Items]
Amount of debt		$ 500,000,000
Interest of senior notes		6.50%
Debt issuance costs	$ 1,900,000

LONG-TERM DEBT - United States Trade Accounts Receivable Credit Facility (Details) - USD ($)	Oct. 31, 2021	Oct. 31, 2020	Sep. 24, 2019
Debt Instrument [Line Items]
Less deferred financing costs	$ 10,300,000	$ 11,100,000
Long-term debt	2,185,400,000	2,469,700,000
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	391,100,000	$ 310,000,000.0
United States Trade Accounts Receivable Credit Facility \| Domestic Line of Credit
Debt Instrument [Line Items]
Credit facility borrowing capacity			$ 275,000,000
Long-term debt	$ 275,000,000

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

LONG-TERM DEBT - Additional Information (Details) € in Millions, $ in Millions	Oct. 31, 2021 USD ($)	Oct. 31, 2021 EUR (€)	Oct. 31, 2020 USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 2,185.4		$ 2,469.7
Other Short-term Borrowings	50.5
Short-term borrowings	50.5		$ 28.4
Annual maturities, long-term debt, 2022	562.5
Annual maturities, long-term debt, 2023	120.3
Annual maturities, long-term debt, 2024	611.0
Annual maturities, long-term debt, 2025	26.1
Annual maturities, long-term debt, 2026	369.6
Annual maturities, long-term debt, thereafter	495.9
European RPA
Debt Instrument [Line Items]
Financing receivable maximum amount under receivable purchase agreement	116.1	€ 100.0
International Trade Accounts Receivable Credit Facilities \| European RPA \| Foreign Line of Credit
Debt Instrument [Line Items]
Long-term debt	$ 116.1

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 7.6	$ 0.0
Liabilities	(16.8)	(37.9)
Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.1	1.5
Liabilities	(0.1)	(1.6)
Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	20.9	21.4
Liabilities	0.0	0.0
Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	10.2	8.9
Liabilities	(1.2)	0.0
Level 1 \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 \| Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 \| Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Level 1 \| Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 2 \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	7.6	0.0
Liabilities	(16.8)	(37.9)
Level 2 \| Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.1	1.5
Liabilities	(0.1)	(1.6)
Level 2 \| Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Level 2 \| Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	10.2	8.9
Liabilities	(1.2)	0.0
Level 3 \| Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 3 \| Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 3 \| Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	20.9	21.4
Level 3 \| Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	$ 0.0	$ 0.0

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Additional Information (Details)	12 Months Ended
	Oct. 31, 2021 USD ($)	Oct. 31, 2020 USD ($) derivative	Oct. 31, 2019 USD ($) derivative	Oct. 01, 2021 USD ($) derivative	Aug. 11, 2021 USD ($) derivative	Mar. 06, 2018 USD ($) derivative	Dec. 31, 2017 USD ($) derivative	Feb. 01, 2017 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, term of contract			5 years
Losses recorded under fair value contracts	$ 400,000	$ (3,200,000)	$ 4,600,000
Interest income (expense), net	(92,700,000)	(115,800,000)	(112,500,000)
Total	8,900,000	18,500,000	7,800,000
Long-lived assets	9,900,000	36,400,000	8,000,000
Long-lived assets, fair value	1,000,000	17,900,000	200,000
Impairment of Long Lived Assets	8,900,000	18,500,000	7,800,000
Goodwill	1,515,400,000	1,518,400,000	1,517,800,000
Goodwill impairment charges	0	0	0
2020 Divestiture
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Goodwill		35,600,000
Global Industrial Packaging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets	2,700,000	5,100,000	600,000
Impairment of intangible assets		900,000
Goodwill	747,300,000	750,500,000	731,700,000
Land Management Segment
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets	1,200,000
Paper Packaging & Services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of Long Lived Assets	5,000,000	12,500,000	5,100,000
Goodwill	768,100,000	$ 767,900,000	$ 786,100,000
Interest rate derivatives \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives held \| derivative		4	6				3
Derivative notional amount		$ 200,000,000	$ 1,300,000,000
Derivative future amortization amount			200,000,000
Outstanding notional	500,000,000
Amount of debt							$ 300,000,000	$ 300,000,000
Interest rate on debt								1.19%
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification and tax	(18,100,000)	(16,500,000)	3,000,000
Derivative loss	11,500,000
Foreign Currency Forward Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount	81,800,000	268,600,000
Cross currency swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives held \| derivative				2	2	2
Derivative notional amount				$ 116,800,000	$ 117,600,000	$ 100,000,000
Derivative, interest rate				1.26%	1.19%	2.35%
Interest income (expense), net	$ 2,200,000	$ 2,400,000	$ 2,400,000
London Interbank Offered Rate (LIBOR) \| Interest rate derivatives \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Weighted average interest rate		0.90%	2.49%

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Estimated Fair Values for the Company's Senior Notes and Assets Held by Special Purpose Entities (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Estimate of Fair Value Measurement \| Senior Notes due 2027
Estimated Fair Value Of Financial Instruments [Line Items]
Estimated fair value	$ 520.0	$ 524.4

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	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Long Lived Assets	$ 8.9	$ 18.5	$ 7.8
Total	8.9	18.5	$ 7.8
Land and building \| Indicative Bids \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Net Assets Held for Sale	1.0
Machinery and equipment \| Discounted Cash Flows, Indicative Bids \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Long Lived Assets	$ 7.9	$ 18.5

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended			36 Months Ended
	Dec. 17, 2020	Feb. 25, 2020	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019	Oct. 31, 2022	Nov. 05, 2021	Nov. 05, 2020	Nov. 05, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 34.1	$ (1.2)	$ 12.7
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
2005 Director Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (shares)			0	0	0
Number of shares forfeited			0	0	0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs Granted (shares)	139,360,000	147,325,000
Weighted Average Fair Value of RSUs (in dollars per share)	$ 48.50	$ 37.42
Restricted Stock Units (RSUs) \| 2020 Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Performance Shares \| 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
Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 32.8	$ (2.4)	$ 11.6
Long-term incentive plan, requisite service period			3 years	3 years	3 years
RSUs Granted (shares)			80,252	153,275
Weighted Average Fair Value of RSUs (in dollars per share)			$ 50.08	$ 34.50
2005 Outside Directors Equity Award Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense			$ 1.2	$ 1.1	$ 1.1
RSUs Granted (shares)			25,686	27,768
Weighted Average Fair Value of RSUs (in dollars per share)			$ 47.29	$ 38.89
Class A Common Stock 2001 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (shares)			0	0	0
Number of shares forfeited			0	0	0
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	$ 0.1
Grants in the period (shares)					9,000
Class A Common Stock 2001 Plan \| Officer \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting installments (shares)								3,000	3,000
Class A Common Stock 2001 Plan \| Officer \| Share-based Payment Arrangement, Tranche One \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting installments (shares)							3,000

STOCK-BASED COMPENSATION - Key Assumptions (Details) - $ / shares shares in Thousands				12 Months Ended
	Dec. 17, 2020	Oct. 17, 2020	Feb. 25, 2020	Oct. 31, 2021	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-Free Rate				0.50%	0.10%
Estimated Volatility				40.20%	31.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Fair Value of RSUs (in dollars per share)	$ 48.50		$ 37.42
Performance Shares \| 2020 Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Valuation Date Stock Price (in dollars per share)				$ 64.94	$ 64.94
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSUs Issued (in shares)				253,102	258,519
Weighted Average Fair Value of RSUs (in dollars per share)		$ 47.26	$ 35.58
Weighted Average Fair Value of PSUs at Valuation Date (in dollars per share)				$ 67.97	$ 73.50

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Current
Federal	$ 45.0	$ (9.7)	$ 26.6
State and local	15.5	3.3	6.1
Non-U.S.	56.3	53.0	35.9
Total Current	116.8	46.6	68.6
Deferred
Federal	(33.0)	7.9	2.1
State and local	(9.9)	10.2	0.9
Non-U.S.	(4.3)	(1.4)	(0.9)
Total Deferred	(47.2)	16.7	2.1
Tax expense	$ 69.6	$ 63.3	$ 70.7

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	$ 478,600,000	$ 186,100,000	$ 262,000,000.0
Net operating loss and other carryforwards	149,000,000.0	179,300,000
Operating loss carryforwards, U.S. Federal	12,300,000	30,600,000
Operating loss carryforwards, State	21,800,000	25,100,000
Operating loss carryforwards, Non-U.S.	110,400,000	123,600,000
Valuation allowance	132,700,000	146,400,000
Increase (decrease) in valuation allowances	13,700,000
Unrecognized tax benefits	31,000,000	36,000,000	38,800,000
Accrued interest and penalties related to unrecognized tax benefits	7,700,000	7,200,000
Maximum
Operating Loss Carryforwards [Line Items]
Net decrease in unrecognized tax benefits for the next 12 months	14,000,000
Non-U.S.
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	239,200,000	160,400,000	132,100,000
Valuation allowance	116,800,000	136,900,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	239,300,000	25,500,000	$ 129,900,000
Valuation allowance	$ 15,900,000	$ 9,500,000

INCOME TAXES - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
Impact of foreign tax rate differential	0.70%	0.49%	0.10%
State and local taxes, net of federal tax benefit	0.93%	5.71%	1.99%
Net impact of changes in valuation allowances	(2.57%)	(15.23%)	2.41%
Non-deductible write-off and impairment of goodwill and other intangible assets	0.00%	4.02%	0.29%
Return to provision	(2.73%)	(1.85%)	(1.27%)
Permanent book-tax differences	0.86%	16.56%	(0.87%)
Withholding taxes	2.86%	5.28%	2.43%
Tax credits	(1.56%)	(2.60%)	(3.33%)
Capital losses	(5.70%)	(6.34%)	0.00%
Other items, net	0.73%	6.97%	4.23%
Company's effective income tax rate	14.52%	34.01%	26.98%

INCOME TAXES - Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Deferred tax assets
Net operating loss and other carryforwards	$ 149.0	$ 179.3
Pension liabilities	0.0	12.9
Incentive liabilities	16.2	8.2
Workers compensation accruals	10.5	10.0
Inventories	6.4	7.8
Operating lease liabilities	74.4	76.9
State income taxes	11.6	10.2
Other reserves	18.4	21.0
Deferred compensation	2.2	2.4
Other	36.1	28.5
Total deferred tax assets	324.8	357.2
Valuation allowance	(132.7)	(146.4)
Net deferred tax assets	192.1	210.8
Deferred tax liabilities
Properties, plants and equipment	134.9	158.1
Operating lease assets	74.4	76.9
Timberland transactions	51.0	74.2
Goodwill and other intangible assets	190.2	200.2
Pension liabilities	4.5	0.0
Other	38.4	29.3
Total deferred tax liabilities	493.4	538.7
Net deferred tax liability	$ 301.3	$ 327.9

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance of unrecognized tax benefit at November 1	$ 36.0	$ 38.8	$ 36.2
Increases in tax positions for prior years	1.2	10.1	5.1
Decreases in tax positions for prior years	0.0	(10.5)	(0.7)
Increases in tax positions for current years	1.7	2.6	4.3
Settlements with taxing authorities	0.0	0.0	(3.6)
Lapse in statute of limitations	(8.0)	(5.5)	(2.0)
Currency translation	0.1	0.5	(0.5)
Balance at October 31	$ 31.0	$ 36.0	$ 38.8

POST-RETIREMENT BENEFIT PLANS - Additional Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021 USD ($) shares	Oct. 31, 2020 USD ($) shares	Oct. 31, 2019 USD ($)	Dec. 31, 2019 plan
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions	$ 21.9
Expected Return on plan assets	3.87%	4.64%	4.12%
Fair value of plan assets	$ 950.8	$ 1,002.1
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	$ 17.8	$ 26.4	$ 26.5
Company's pension contributions paid directly by the Company	4.1
Company's estimated pension contributions	35.5
Settlement, gain (loss)	(9.1)	(0.3)
Actuarial loss (gain)	(0.3)	(17.4)
Fair value of plan assets	950.8	1,002.1	1,017.0
Income for its post-retirement benefit plans	20.5	14.2	13.3
Aggregated accumulated benefit obligation	961.0	$ 1,086.1
Pension Plan \| Class A common stock
Defined Benefit Plan Disclosure [Line Items]
Common stock shares authorized (shares) \| shares		51,576
Pension Plan \| Class B common stock
Defined Benefit Plan Disclosure [Line Items]
Common stock shares authorized (shares) \| shares		30,930
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions paid directly by the Company	1.0	$ 0.9	0.9
Company's estimated pension contributions	1.3
Income for its post-retirement benefit plans	0.1	(0.2)	(1.1)
Aggregated accumulated benefit obligation	11.0	11.6
United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, annuity	98.8
Lump sum payments	13.9
Decrease for settlement	112.7
Settlement, gain (loss)	(8.8)
United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement, gain (loss)	(8.8)	0.1
Actuarial loss (gain)	(17.1)	(14.6)
Fair value of plan assets	646.4	687.0	698.7
Income for its post-retirement benefit plans	19.1	12.5	12.5
Aggregated accumulated benefit obligation	655.4	760.3
United States \| Pension Plan \| Two US Plans
Defined Benefit Plan Disclosure [Line Items]
Company's pension contributions	44.3
Decrease for settlement	44.3
Settlement, gain (loss)	0.1
Number of plans \| plan				2
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement, gain (loss)	(0.3)
401 (k) Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Company contributions to 401(k) plans	$ 21.9	$ 25.2	$ 21.8

POST-RETIREMENT BENEFIT PLANS - Number of Participants in Defined Benefit Plans (Details) - Pension Plan - participant	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	3,603	2,226
Vested former employees and deferred members	3,468	3,385
Retirees and beneficiaries	3,306	6,526
United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	1,733	2,127
Vested former employees and deferred members	2,881	2,788
Retirees and beneficiaries	1,962	5,138
Germany
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	30	36
Vested former employees and deferred members	79	82
Retirees and beneficiaries	276	267
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
Netherlands
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	60	63
Vested former employees and deferred members	107	105
Retirees and beneficiaries	354	405
Other International
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	1,780	0
Vested former employees and deferred members	35	44
Retirees and beneficiaries	52	54

POST-RETIREMENT BENEFIT PLANS - Actuarial Assumptions Used to Measure Benefit Obligations (Details)	Oct. 31, 2021	Oct. 31, 2020
Retirement Benefits [Abstract]
Discount rate	2.55%	2.48%
Rate of compensation increase	2.96%	2.91%

POST-RETIREMENT BENEFIT PLANS - Actuarial Assumptions Used to Measure Pension Costs (Details) (Details)	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Retirement Benefits [Abstract]
Discount rate	2.48%	2.74%	3.48%
Expected Return on plan assets	3.87%	4.64%	4.12%
Rate of compensation increase	2.91%	2.85%	2.85%

POST-RETIREMENT BENEFIT PLANS - Components of Net Periodic Cost for Postretirement Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
United States
Special Events
Settlement	$ 8.8
Foreign Plan
Special Events
Settlement	0.3
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	12.1	$ 12.8	$ 14.1
Interest cost	18.8	25.9	31.0
Expected return on plan assets	(31.8)	(37.9)	(38.8)
Amortization of prior service benefit	(0.3)	(0.1)	(0.1)
Recognized net actuarial loss	12.6	13.2
Other Adjustments			7.1
Special Events
Settlement	9.1	0.3
Net periodic pension (benefit) cost	20.5	14.2	13.3
Pension Plan \| United States
Defined Benefit Plan Disclosure [Line Items]
Service cost	10.7	11.5	12.7
Interest cost	15.4	22.4	25.4
Expected return on plan assets	(25.8)	(31.4)	(30.5)
Amortization of prior service benefit	(0.1)	(0.1)	(0.1)
Recognized net actuarial loss	10.1	10.2
Other Adjustments			5.0
Special Events
Settlement	8.8	(0.1)
Net periodic pension (benefit) cost	19.1	12.5	12.5
Pension Plan \| Germany
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.3	0.4	0.3
Interest cost	0.3	0.2	0.5
Expected return on plan assets	0.0	0.0	0.0
Amortization of prior service benefit	0.0	0.0	0.0
Recognized net actuarial loss	1.3	1.8
Other Adjustments			0.9
Special Events
Settlement	0.0	0.0
Net periodic pension (benefit) cost	1.9	2.4	1.7
Pension Plan \| United Kingdom
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.5	0.5	0.5
Interest cost	2.5	2.7	3.9
Expected return on plan assets	(4.6)	(5.2)	(6.2)
Amortization of prior service benefit	0.0	0.1	0.1
Recognized net actuarial loss	1.1	1.1
Other Adjustments			1.2
Special Events
Settlement	0.3	0.4
Net periodic pension (benefit) cost	(0.2)	(0.4)	(0.5)
Pension Plan \| Netherlands
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.5	0.3	0.5
Interest cost	0.4	0.3	0.9
Expected return on plan assets	(0.7)	(0.7)	(1.3)
Amortization of prior service benefit	(0.2)	(0.1)	(0.1)
Recognized net actuarial loss	0.0	0.0
Other Adjustments			0.0
Special Events
Settlement	0.0	0.0
Net periodic pension (benefit) cost	0.0	(0.2)	0.0
Pension Plan \| Other International
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1	0.1	0.1
Interest cost	0.2	0.3	0.3
Expected return on plan assets	(0.7)	(0.6)	(0.8)
Amortization of prior service benefit	0.0	0.0	0.0
Recognized net actuarial loss	0.1	0.1
Other Adjustments			0.0
Special Events
Settlement	0.0	0.0
Net periodic pension (benefit) cost	$ (0.3)	$ (0.1)	$ (0.4)

POST-RETIREMENT BENEFIT PLANS - Change in Projected Benefit Obligation (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Change in benefit obligation:
Benefit obligation at beginning of year	$ 1,110.3	$ 1,158.7
Service cost	12.1	12.8	$ 14.1
Interest cost	18.8	25.9	31.0
Plan participant contributions	0.2	0.2
Expenses paid from assets	(3.1)	(3.4)
Actuarial loss (gain)	0.3	17.4
Foreign currency effect	9.8	8.6
Benefits paid	(159.9)	(109.9)
Other	0.7
Benefit obligation at end of year	989.2	1,110.3	1,158.7
United States
Change in benefit obligation:
Benefit obligation at beginning of year	782.0	831.0
Service cost	10.7	11.5	12.7
Interest cost	15.4	22.4	25.4
Plan participant contributions	0.0	0.0
Expenses paid from assets	(2.3)	(2.6)
Actuarial loss (gain)	17.1	14.6
Foreign currency effect	0.0	0.0
Benefits paid	(143.3)	(94.9)
Other	0.0
Benefit obligation at end of year	679.6	782.0	831.0
Germany
Change in benefit obligation:
Benefit obligation at beginning of year	42.1	44.1
Service cost	0.3	0.4	0.3
Interest cost	0.3	0.2	0.5
Plan participant contributions	0.0	0.0
Expenses paid from assets	0.0	0.0
Actuarial loss (gain)	(1.5)	(3.5)
Foreign currency effect	(0.4)	2.3
Benefits paid	(1.5)	(1.4)
Other	0.0
Benefit obligation at end of year	39.3	42.1	44.1
United Kingdom
Change in benefit obligation:
Benefit obligation at beginning of year	184.6	180.8
Service cost	0.5	0.5	0.5
Interest cost	2.5	2.7	3.9
Plan participant contributions	0.0	0.0
Expenses paid from assets	(0.9)	(0.9)
Actuarial loss (gain)	(11.1)	7.6
Foreign currency effect	10.9	1.7
Benefits paid	(9.0)	(7.8)
Other	(3.4)
Benefit obligation at end of year	174.1	184.6	180.8
Netherlands
Change in benefit obligation:
Benefit obligation at beginning of year	90.9	91.3
Service cost	0.5	0.3	0.5
Interest cost	0.4	0.3	0.9
Plan participant contributions	0.2	0.2
Expenses paid from assets	0.2	0.2
Actuarial loss (gain)	(3.8)	(1.6)
Foreign currency effect	(0.9)	5.0
Benefits paid	(5.0)	(4.8)
Other	0.0
Benefit obligation at end of year	82.5	90.9	91.3
Other International
Change in benefit obligation:
Benefit obligation at beginning of year	10.7	11.5
Service cost	0.1	0.1	0.1
Interest cost	0.2	0.3	0.3
Plan participant contributions	0.0	0.0
Expenses paid from assets	(0.1)	(0.1)
Actuarial loss (gain)	(0.4)	0.3
Foreign currency effect	0.2	(0.4)
Benefits paid	(1.1)	(1.0)
Other	4.1
Benefit obligation at end of year	$ 13.7	$ 10.7	$ 11.5

POST-RETIREMENT BENEFIT PLANS - Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Plan assets	$ 950.8	$ 1,002.1
Pension Plan
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	989.2	1,110.3	$ 1,158.7
Accumulated benefit obligation	961.0	1,086.1
Plan assets	950.8	1,002.1	1,017.0
Accumulated benefit obligation	75.1	812.2
Plan assets	0.0	697.2
Pension Plan \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	679.6	782.0	831.0
Accumulated benefit obligation	655.4	760.3
Plan assets	646.4	687.0	698.7
Accumulated benefit obligation	35.3	760.3
Plan assets	0.0	687.2
Pension Plan \| Germany
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	39.3	42.1	44.1
Accumulated benefit obligation	38.2	41.0
Plan assets	0.0	0.0	0.0
Accumulated benefit obligation	38.2	41.0
Plan assets	0.0	0.0
Pension Plan \| United Kingdom
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	174.1	184.6	180.8
Accumulated benefit obligation	174.1	184.6
Plan assets	205.4	210.0	209.8
Accumulated benefit obligation	0.0	0.0
Plan assets	0.0	0.0
Pension Plan \| Netherlands
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	82.5	90.9	91.3
Accumulated benefit obligation	81.2	89.3
Plan assets	84.5	92.0	94.5
Accumulated benefit obligation	0.0	0.0
Plan assets	0.0	0.0
Pension Plan \| Other International
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	13.7	10.7	11.5
Accumulated benefit obligation	12.1	10.9
Plan assets	14.5	13.1	$ 14.0
Accumulated benefit obligation	1.6	10.9
Plan assets	$ 0.0	$ 10.0

POST-RETIREMENT BENEFIT PLANS - Future Benefit Payments Next Five Years and Thereafter (Details) - Pension Plan $ in Millions	Oct. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2022	$ 59.0
2023	58.7
2024	58.5
2025	56.3
2026	56.8
2027-2031	$ 288.9

POST-RETIREMENT BENEFIT PLANS - Weighted Average Asset Allocations at Measurement Date and Target Asset Allocations (Details)	Oct. 31, 2021	Oct. 31, 2020
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	20.00%	21.00%
Total, Actual		20.00%
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Total, Target	66.00%	63.00%
Total, Actual		65.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Total, Target	14.00%	16.00%
Total, Actual		15.00%

POST-RETIREMENT BENEFIT PLANS - Fair Value of the Pension Plans Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Change in plan assets:
Fair value of plan assets at beginning of year	$ 1,002.1
Fair value of plan assets at end of year	950.8	$ 1,002.1
Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	1,002.1	1,017.0
Actual return on plan assets	77.1	65.4
Expenses paid	(3.1)	(3.4)
Plan participant contributions	0.2	0.2
Foreign currency impact	12.5	6.4
Employer contributions	17.8	22.4
Benefits paid out of plan	(155.8)	(105.9)
Fair value of plan assets at end of year	950.8	1,002.1
United States \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	687.0	698.7
Actual return on plan assets	88.4	62.2
Expenses paid	(2.3)	(2.6)
Plan participant contributions	0.0	0.0
Foreign currency impact	0.0	0.0
Employer contributions	14.0	21.0
Benefits paid out of plan	(140.7)	(92.3)
Fair value of plan assets at end of year	646.4	687.0
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
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	210.0	209.8
Actual return on plan assets	(9.8)	4.6
Expenses paid	(0.9)	(0.9)
Plan participant contributions	0.0	0.0
Foreign currency impact	12.4	1.9
Employer contributions	2.7	2.4
Benefits paid out of plan	(9.0)	(7.8)
Fair value of plan assets at end of year	205.4	210.0
Netherlands \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	92.0	94.5
Actual return on plan assets	(3.1)	(2.1)
Expenses paid	0.2	0.2
Plan participant contributions	0.2	0.2
Foreign currency impact	(0.9)	5.0
Employer contributions	1.1	(1.0)
Benefits paid out of plan	(5.0)	(4.8)
Fair value of plan assets at end of year	84.5	92.0
Other International \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	13.1	14.0
Actual return on plan assets	1.6	0.7
Expenses paid	(0.1)	(0.1)
Plan participant contributions	0.0	0.0
Foreign currency impact	1.0	(0.5)
Employer contributions	0.0	0.0
Benefits paid out of plan	(1.1)	(1.0)
Fair value of plan assets at end of year	$ 14.5	$ 13.1

POST-RETIREMENT BENEFIT PLANS - Amounts Recognized in Consolidated Financial Statements - in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	$ 87.2	$ 149.7
Unrecognized prior service credit	(2.0)	0.9
Accumulated other comprehensive loss - Pre-tax	85.2	150.6	$ 172.6
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	39.9	29.5
Accrued benefit liability	(78.3)	(137.7)
Accumulated other comprehensive loss - Pre-tax	85.2	150.6	$ 172.6
Net amount recognized	46.8	42.4
United States
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	29.9	94.1
Unrecognized prior service credit	(0.7)	(0.8)
Accumulated other comprehensive loss - Pre-tax	29.2	93.3
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	2.7	0.0
Accrued benefit liability	(35.5)	(94.7)
Accumulated other comprehensive loss - Pre-tax	29.2	93.3
Net amount recognized	(3.6)	(1.4)
Germany
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	11.9	14.8
Unrecognized prior service credit	0.0	0.0
Accumulated other comprehensive loss - Pre-tax	11.9	14.8
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	0.0	0.0
Accrued benefit liability	(39.3)	(42.1)
Accumulated other comprehensive loss - Pre-tax	11.9	14.8
Net amount recognized	(27.4)	(27.3)
United Kingdom
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	36.2	32.4
Unrecognized prior service credit	0.0	3.2
Accumulated other comprehensive loss - Pre-tax	36.2	35.6
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	31.1	25.3
Accrued benefit liability	0.0	0.0
Accumulated other comprehensive loss - Pre-tax	36.2	35.6
Net amount recognized	67.3	60.9
Netherlands
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	4.4	4.5
Unrecognized prior service credit	(1.3)	(1.5)
Accumulated other comprehensive loss - Pre-tax	3.1	3.0
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	2.0	1.1
Accrued benefit liability	0.0	0.0
Accumulated other comprehensive loss - Pre-tax	3.1	3.0
Net amount recognized	5.1	4.1
Other International
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss	4.8	3.9
Unrecognized prior service credit	0.0	0.0
Accumulated other comprehensive loss - Pre-tax	4.8	3.9
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	4.1	3.1
Accrued benefit liability	(3.5)	(0.9)
Accumulated other comprehensive loss - Pre-tax	4.8	3.9
Net amount recognized	$ 5.4	$ 6.1

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, 2021	Oct. 31, 2020
Defined Benefit Plan, Changes in Accumulated Other Comprehensive (Income) Loss [Roll Forward]
Accumulated other comprehensive loss at beginning of year	$ 150.6	$ 172.6
Increase or (decrease) in accumulated other comprehensive loss
Net prior service benefit amortized	0.3	0.1
Net loss amortized	(12.6)	(13.2)
Loss recognized due to settlement	(9.1)	(0.3)
Liability loss	0.3	17.4
Asset gain	(45.3)	(27.4)
Other adjustments	(0.9)	0.0
Decrease in accumulated other comprehensive loss	(67.3)	(23.4)
Foreign currency impact	1.9	1.4
Accumulated other comprehensive loss at year end	$ 85.2	$ 150.6

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES - Additional Information (Details) $ in Millions			12 Months Ended
	Nov. 30, 2021 USD ($)	Jun. 30, 2018 defendant	Oct. 31, 2021 USD ($) facility	Dec. 28, 2020	Oct. 31, 2020 USD ($)	Mar. 03, 2016 USD ($)
Site Contingency [Line Items]
Environmental liability reserves			$ 19.5		$ 20.2	$ 1,380.0
Accrual for environmental loss contingencies, discount rate (less than)				1.00%
Loss contingency, number of defendants \| defendant		119
Scenario, Forecast
Site Contingency [Line Items]
Payments for legal settlements	$ 0.8
Diamond Alkali
Site Contingency [Line Items]
Environmental liability reserves			11.0		11.1
Other Facilities
Site Contingency [Line Items]
Environmental liability reserves			$ 8.5		$ 9.1
Container Life Cycle Management LLC \| Scenario, Forecast
Site Contingency [Line Items]
Payments for legal settlements	$ 0.5
Container Life Cycle Management LLC \| Flexible Packaging JV
Site Contingency [Line Items]
Number of reconditioning facilities subject to litigation \| facility			2

EARNINGS PER SHARE - Additional Information (Details) - $ / shares	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Class of Stock [Line Items]
Antidilutive stock option (shares)	0	0	0
Class A common stock
Class of Stock [Line Items]
Dividend proportions (usd per share)	$ 1
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
Stock Repurchase Committee Authorized
Class of Stock [Line Items]
Repurchase of common stock (shares)	0	0

EARNINGS PER SHARE - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Numerator for basic and diluted EPS –
Net income attributable to Greif	$ 390.7	$ 108.8	$ 171.0
Cash dividends	(105.8)	(104.3)	(104.0)
Undistributed net income attributable to Greif, Inc.	$ 284.9	$ 4.5	$ 67.0
Class A common stock
Denominator for basic EPS –
Denominator for basic EPS (shares)	26,525,529	26,382,838	26,189,445
Denominator for diluted EPS –
Denominator for diluted EPS (shares)	26,659,221	26,390,643	26,215,111
EPS Basic
EPS Basic (usd per share)	$ 6.57	$ 1.83	$ 2.89
EPS Diluted
EPS Diluted (usd per share)	$ 6.54	$ 1.83	$ 2.89
Class B common stock
Denominator for basic EPS –
Denominator for basic EPS (shares)	22,007,725	22,007,725	22,007,725
Denominator for diluted EPS –
Denominator for diluted EPS (shares)	22,007,725	22,007,725	22,007,725
EPS Basic
EPS Basic (usd per share)	$ 9.84	$ 2.74	$ 4.33
EPS Diluted
EPS Diluted (usd per share)	$ 9.84	$ 2.74	$ 4.33

EARNINGS PER SHARE - Summarization of Company's Class A and Class B Common and Treasury Shares (Details) - shares	Oct. 31, 2021	Oct. 31, 2020
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)	26,550,924	26,441,986
Treasury Shares (shares)	15,730,996	15,839,934
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	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Class A common stock
Class of Stock [Line Items]
Basic (shares)	26,525,529	26,382,838	26,189,445
Assumed conversion of stock options and unvested shares (shares)	133,692	7,805	25,666
Diluted (shares)	26,659,221	26,390,643	26,215,111
Class B common stock
Class of Stock [Line Items]
Basic (shares)	22,007,725	22,007,725	22,007,725
Diluted (shares)	22,007,725	22,007,725	22,007,725

LEASES - Additional Information (Details)	12 Months Ended
LEASES - Additional Information (Details)	Oct. 31, 2021
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	21 years

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Operating lease cost	$ 70.4	$ 67.0
Other lease cost	24.0	26.8
Total lease cost	$ 94.4	$ 93.8

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Millions	Oct. 31, 2021 USD ($)
Operating Leases
2022	$ 69.2
2023	64.3
2024	56.3
2025	46.6
2026	40.7
Thereafter	142.3
Total lease payments	419.4
Less: Interest	(125.9)
Lease liabilities	$ 293.5

LEASES - Schedule of Weighted-Average Lease Term and Discount Rate (Details)	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term (years) for operating lease liabilities	10 years 3 months 18 days	11 years 1 month 6 days
Weighted-average discount rate for operating lease liabilities	3.61%	3.63%

LEASES - Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Cash Flow (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Leases [Abstract]
Operating cash flows used for operating leases	$ 70.2	$ 69.4
Leased assets obtained in exchange for new operating lease liabilities	$ 25.0	$ 67.4

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	12 Months Ended
	Oct. 31, 2021 a segment
Segment Reporting Information [Line Items]
Number of operating segments	6
Number of reportable business segment	3
Measurement area of timber properties in the south eastern United States which are actively managed in acres \| a	175,000
Global Industrial Packaging
Segment Reporting Information [Line Items]
Number of operating segments	4

BUSINESS SEGMENT INFORMATION - Geographic Area (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 5,556.1	$ 4,515.0	$ 4,595.0
Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	3,316.7	2,571.8
Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	2,218.4	1,916.9
Land Management
Segment Reporting Information [Line Items]
Net sales	21.0	26.3
United States
Segment Reporting Information [Line Items]
Net sales	3,247.5	2,756.9
United States \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	1,044.5	842.2
United States \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	2,182.0	1,888.4
United States \| Land Management
Segment Reporting Information [Line Items]
Net sales	21.0	26.3
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Net sales	1,673.9	1,288.8
Europe, Middle East and Africa \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	1,673.9	1,288.8
Europe, Middle East and Africa \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	0.0	0.0
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	634.7	469.3
Asia Pacific and Other Americas \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	598.3	440.8
Asia Pacific and Other Americas \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	36.4	28.5
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=123359005&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=123351226&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=123359005&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=123359005&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)
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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)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&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=123351226&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=123359005&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=123359005&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, 2021	Oct. 31, 2020	Oct. 31, 2019
Operating profit:
Total operating profit (loss)	$ 585.2	$ 304.9	$ 399.1
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	234.4	242.5	206.1
Capital expenditures:
Total capital expenditures	162.2	130.0	156.9
Assets By Business Segment [Abstract]
Total assets	5,815.8	5,510.9	5,426.7
Global Industrial Packaging
Operating profit:
Total operating profit (loss)	350.2	225.4	204.9
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	83.1	84.5	82.5
Paper Packaging & Services
Operating profit:
Total operating profit (loss)	131.0	71.0	184.3
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	148.0	153.5	119.3
Land Management
Operating profit:
Total operating profit (loss)	104.0	8.5	9.9
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	3.3	4.5	4.3
Operating Segments
Capital expenditures:
Total capital expenditures	151.2	117.4	139.8
Assets By Business Segment [Abstract]
Total assets	5,490.8	5,211.4	5,189.5
Operating Segments \| Global Industrial Packaging
Capital expenditures:
Total capital expenditures	71.1	55.8	58.4
Assets By Business Segment [Abstract]
Total assets	2,735.1	2,338.5	2,154.5
Operating Segments \| Paper Packaging & Services
Capital expenditures:
Total capital expenditures	79.9	61.4	81.2
Assets By Business Segment [Abstract]
Total assets	2,506.5	2,524.3	2,686.3
Operating Segments \| Land Management
Capital expenditures:
Total capital expenditures	0.2	0.2	0.2
Assets By Business Segment [Abstract]
Total assets	249.2	348.6	348.7
Corporate and Other
Capital expenditures:
Total capital expenditures	11.0	12.6	17.1
Assets By Business Segment [Abstract]
Total assets	$ 325.0	$ 299.5	$ 237.2

BUSINESS SEGMENT INFORMATION - Properties, Plants and Equipment, Net by Geographical Area (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Properties, plants and equipment, net
Total properties, plants and equipment, net	$ 1,810.6	$ 1,834.4	$ 1,690.3
United States
Properties, plants and equipment, net
Total properties, plants and equipment, net	1,321.8	1,345.8	1,295.8
Europe, Middle East, and Africa
Properties, plants and equipment, net
Total properties, plants and equipment, net	374.5	377.6	277.1
Asia Pacific and other Americas
Properties, plants and equipment, net
Total properties, plants and equipment, net	$ 114.3	$ 111.0	$ 117.4

COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	$ 1,152.2
Ending balance, value	1,514.3	$ 1,152.2
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(294.9)	(298.0)
Other Comprehensive Income (Loss)	(0.5)	3.1
Ending balance, value	(295.4)	(294.9)
Derivative Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(24.7)	(12.7)
Other Comprehensive Income (Loss)	21.1	(12.0)
Ending balance, value	(3.6)	(24.7)
Minimum Pension Liability Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(107.9)	(123.0)
Other Comprehensive Income (Loss)	50.4	15.1
Ending balance, value	(57.5)	(107.9)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance, value	(427.5)	(433.7)
Other Comprehensive Income (Loss)	71.0	6.2
Ending balance, value	$ (356.5)	$ (427.5)

- 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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=122038336&loc=d3e74512-122707

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

+ Details

REDEEMABLE NONCONTROLLING INTERESTS - Additional Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2021 USD ($) jointVenture	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest \| $	$ 24.1	$ 20.0	$ 21.3
Container Life Cycle Management LLC
Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest \| $	$ 8.4	$ 8.4
Paper Packaging & Services
Noncontrolling Interest [Line Items]
Number of joint ventures (joint venture) \| jointVenture	2
Global Industrial Packaging
Noncontrolling Interest [Line Items]
Number of joint ventures (joint venture) \| jointVenture	1

REDEEMABLE NONCONTROLLING INTERESTS - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Redeemable noncontrolling interests, beginning balance	$ 20.0	$ 21.3
Current period mark to redemption value	2.6	(0.4)
Redeemable noncontrolling interest share of income and other	2.4	0.1	$ 2.3
Dividends to redeemable noncontrolling interest and other	(0.9)	(1.0)
Redeemable noncontrolling interests, ending balance	$ 24.1	$ 20.0	$ 21.3

REDEEMABLE NONCONTROLLING INTERESTS - Mandatorily Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Redeemable noncontrolling interests, beginning balance	$ 20.0	$ 21.3
Noncontrolling Interest, Change in Redemption Value	2.6	(0.4)
Redeemable noncontrolling interests, ending balance	24.1	20.0
Container Life Cycle Management LLC
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Redeemable noncontrolling interests, beginning balance	8.4
Redeemable noncontrolling interests, ending balance	$ 8.4	$ 8.4

DISPOSALS OF TIMBERLAND (Details) $ in Millions	3 Months Ended	12 Months Ended
DISPOSALS OF TIMBERLAND (Details) $ in Millions	Apr. 30, 2021 USD ($) a	Oct. 31, 2021 USD ($)	Oct. 31, 2020 USD ($)	Oct. 31, 2019 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds on timberlands		$ 145.1	$ 0.0	$ 0.0
Timberland gains	$ 95.7	$ 95.7	$ 0.0	$ 0.0
Timberland In Southwest Alabama
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acres of land \| a	69,200
Proceeds on timberlands	$ 145.1
Closing cost adjustments	$ 4.3

SCHEDULE II - Consolidated Valuation and Qualifying Accounts and Reserves - (Details) - Allowance for doubtful accounts - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 9.4	$ 6.8	$ 4.2
Charged to Costs and Expenses	2.9	1.3	0.6
Charged to Other Accounts	(6.2)	1.3	2.0
Deductions	0.0	0.0	0.0
Balance at End of Period	$ 6.1	$ 9.4	$ 6.8

POST-RETIREMENT BENEFIT PLANS - Fair Value Measurements for Pension Assets (Details) - USD ($) $ in Millions	Oct. 31, 2021	Oct. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Assets in the Fair Value Hierarchy	$ 512.2	$ 440.9
Assets in the Fair Value Hierarchy	950.8	1,002.1
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Assets in the Fair Value Hierarchy	109.7	33.3
Assets in the Fair Value Hierarchy	109.7	33.3
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Assets in the Fair Value Hierarchy	402.5	407.6
Assets in the Fair Value Hierarchy	402.5	407.6
Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Assets in the Fair Value Hierarchy	0.0	0.0
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	215.9	131.6
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	87.4	9.2
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	128.5	122.4
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
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	122.9	132.9
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	6.6	9.3
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	6.6	9.3
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	94.2	215.4
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	15.7	14.8
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	15.7	14.8
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	228.5	250.3
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	228.5	250.3
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	209.2	203.1
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	44.5	34.2
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	44.5	34.2
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	12.3	9.3
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	1.0	0.7
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	1.0	0.7
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