0000043920-23-000068 | 10-K | XBRL Viewer

Print Document View Excel Document

POST-RETIREMENT BENEFIT PLANS - Number of Participants in Defined Benefit Plans (Details) - Pension Plan - participant	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	1,509	1,659
Vested former employees and deferred members	3,181	3,348
Retirees and beneficiaries	3,570	3,426
United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	1,416	1,579
Vested former employees and deferred members	2,690	2,764
Retirees and beneficiaries	2,156	2,102
Germany
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	27	29
Vested former employees and deferred members	73	75
Retirees and beneficiaries	279	281
United Kingdom
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	0	0
Vested former employees and deferred members	290	366
Retirees and beneficiaries	772	662
Netherlands
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	66	51
Vested former employees and deferred members	100	115
Retirees and beneficiaries	312	330
Other International
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Active participants	0	0
Vested former employees and deferred members	28	28
Retirees and beneficiaries	51	51

INCOME TAXES

12 Months Ended

Oct. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

The provision for income taxes consists of the following:


	Year Ended October 31,
(in millions)	2023		2022		2021
Current
Federal	$	77.4	$	54.6	$	45.0
State and local	19.6		19.9		15.5
Non-U.S.	49.1		49.2		56.3
Total Current	146.1		123.7		116.8
Deferred
Federal	(18.8)		12.5		(33.0)
State and local	(8.6)		(6.6)		(9.9)
Non-U.S.	(0.9)		7.5		(4.3)
Total Deferred	(28.3)		13.4		(47.2)
Tax expense	$	117.8	$	137.1	$	69.6

The U.S. income before income tax expense was $240.7 million, $333.5 million and $239.3 million in 2023, 2022 and 2021, respectively. The non-U.S. income before income tax expense was $254.0 million, $192.2 million and $239.2 million in 2023, 2022 and 2021, 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,
	2023		2022		2021
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	1.78	%	2.03	%	0.70	%
State and local taxes, net of federal tax benefit	1.71	%	2.01	%	0.93	%
Net impact of changes in valuation allowances	(2.21)	%	(1.05)	%	(2.57)	%



Permanent book-tax differences	(0.25)	%	1.60	%	0.86	%
Withholding taxes	2.95	%	2.33	%	2.86	%
Tax credits	(1.40)	%	(0.99)	%	(1.57)	%
Capital losses	—	%	—	%	(5.70)	%
Other items, net	0.23	%	(0.84)	%	(1.99)	%
Company’s effective income tax rate	23.81	%	26.09	%	14.52	%

The primary items which increased the Company’s effective income tax rate from the federal statutory rate in 2023 were changes in the mix of earnings among tax jurisdictions, including jurisdictions for which valuation allowances have been recorded, state and local taxes and withholding taxes. The increases were partially offset by tax credits and release of valuation allowances.

The primary items which increased the Company’s effective income tax rate from the federal statutory rate in 2022 were changes in the mix of earnings among tax jurisdictions, including jurisdictions for which valuation allowances have been recorded, state and local taxes, withholding taxes and the net $58.6 million book loss recorded for the FPS Divestiture and other disposals of businesses for which limited tax benefits were available. The increases were partially offset by decreases in valuation allowances and recording additional capital losses which are expected to be fully utilized.

The primary items which decreased the Company’s effective income tax rate from the federal statutory rate in 2021 were capital losses, which were 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 components of the Company’s deferred tax assets and liabilities as of October 31 for the years indicated were as follows:


(in millions)	2023		2022
Deferred tax assets
Net operating loss and other carryforwards	$	104.9	$	101.8



Incentive liabilities	18.6		28.6



Operating lease liabilities	70.3		65.5

Other reserves	16.0		13.0

Research and development expenses	29.7		—
Other	45.4		52.8





Total deferred tax assets	284.9		261.7
Valuation allowance	(97.3)		(105.4)
Net deferred tax assets	$	187.6	$	156.3

Deferred tax liabilities
Properties, plants and equipment	$	157.2	$	138.4
Operating lease assets	70.3		65.5
Timberland transactions	51.6		51.8
Goodwill and other intangible assets	150.6		174.0


Pension liabilities	10.6		8.4
Other	50.0		51.7
Total deferred tax liabilities	490.3		489.8
Net deferred tax liability	$	302.7	$	333.5

As of October 31, 2023 and 2022, the Company had deferred income tax benefits of $104.9 million and $101.8 million, respectively, from net operating losses and other tax credit carryforwards. For the fiscal year ended October 31, 2023, these losses and carryforwards consist of $7.5 million, $10.1 million and $87.3 million in U.S. Federal, U.S. state and non-U.S. jurisdictions, respectively. For the fiscal year ended October 31, 2022, these losses and carryforwards consist of $4.4 million, $12.2 million and $85.2 million in U.S. Federal, U.S. state and non-U.S. jurisdictions, respectively. The Company has recorded valuation allowances of $82.8 million and $92.4 million against non-U.S. deferred tax assets as of October 31, 2023 and 2022, respectively. The Company has also recorded valuation allowances against U.S. deferred tax assets of $14.5 million and $13.0 million, as of October 31, 2023 and 2022, respectively. The Company had net changes in valuation allowances in 2023 of $8.1 million.

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


(in millions)	2023		2022		2021
Balance of unrecognized tax benefit at November 1	$	24.3	$	31.0	$	36.0
Increases in tax positions for prior years	0.6		0.2		1.2

Increases in tax positions for current years	4.1		5.9		1.7

Lapse in statute of limitations	(4.6)		(11.4)		(8.0)
Currency translation	(1.0)		(1.4)		0.1
Balance at October 31	$	23.4	$	24.3	$	31.0

The 2023 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 2015 through the current year. The Company has completed its U.S. federal tax audit for the tax years through 2016, and the statues of limitations have expired for years 2017 through 2019.

The October 31, 2023, 2022, 2021 balances include $23.4 million, $24.3 million and $31.0 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, 2023 and 2022, the Company had accrued for the payment of interest and penalties in the amounts of $4.8 million and $4.8 million, respectively.

The Company has estimated the reasonably possible expected net change in unrecognized tax benefits through October 31, 2023 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 $6.7 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

POST-RETIREMENT BENEFIT PLANS - Change in Projected Benefit Obligation (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Change in benefit obligation:
Benefit obligation at beginning of year	$ 651.7	$ 989.2
Service cost	8.0	11.5	$ 12.1
Interest cost	35.0	19.9	18.8
Plan participant contributions	0.2	0.2
Expenses paid from assets	(3.4)	(2.8)
Actuarial gain	(24.3)	(265.9)
Foreign currency effect	9.7	(40.3)
Benefits paid	(65.1)	(57.7)
Settlements	(7.7)
Divestiture		(2.4)
Benefit obligation at end of year	604.1	651.7	989.2
United States
Change in benefit obligation:
Benefit obligation at beginning of year	470.3	679.6
Service cost	6.5	10.0	10.7
Interest cost	26.8	16.1	15.4
Plan participant contributions	0.0	0.0
Expenses paid from assets	(1.7)	(1.9)
Actuarial gain	(12.8)	(188.9)
Foreign currency effect	0.0	0.0
Benefits paid	(51.6)	(44.6)
Settlements	0.0
Divestiture		0.0
Benefit obligation at end of year	437.5	470.3	679.6
Germany
Change in benefit obligation:
Benefit obligation at beginning of year	25.9	39.3
Service cost	0.1	0.2	0.3
Interest cost	1.1	0.3	0.3
Plan participant contributions	0.0	0.0
Expenses paid from assets	0.0	0.0
Actuarial gain	(0.9)	(7.6)
Foreign currency effect	1.6	(5.0)
Benefits paid	(1.4)	(1.3)
Settlements	0.0
Divestiture		0.0
Benefit obligation at end of year	26.4	25.9	39.3
United Kingdom
Change in benefit obligation:
Benefit obligation at beginning of year	95.8	174.1
Service cost	0.5	0.5	0.5
Interest cost	4.8	2.6	2.5
Plan participant contributions	0.0	0.0
Expenses paid from assets	(1.0)	(0.8)
Actuarial gain	(8.5)	(51.2)
Foreign currency effect	4.8	(23.0)
Benefits paid	(6.9)	(6.4)
Settlements	0.0
Divestiture		0.0
Benefit obligation at end of year	89.5	95.8	174.1
Netherlands
Change in benefit obligation:
Benefit obligation at beginning of year	51.4	82.5
Service cost	0.7	0.5	0.5
Interest cost	2.0	0.5	0.4
Plan participant contributions	0.2	0.2
Expenses paid from assets	(0.5)	0.0
Actuarial gain	(1.8)	(17.6)
Foreign currency effect	3.2	(10.2)
Benefits paid	(4.6)	(4.5)
Settlements	0.0
Divestiture		0.0
Benefit obligation at end of year	50.6	51.4	82.5
Other International
Change in benefit obligation:
Benefit obligation at beginning of year	8.3	13.7
Service cost	0.2	0.3	0.1
Interest cost	0.3	0.4	0.2
Plan participant contributions	0.0	0.0
Expenses paid from assets	(0.2)	(0.1)
Actuarial gain	(0.3)	(0.6)
Foreign currency effect	0.1	(2.1)
Benefits paid	(0.6)	(0.9)
Settlements	(7.7)
Divestiture		(2.4)
Benefit obligation at end of year	$ 0.1	$ 8.3	$ 13.7

POST-RETIREMENT BENEFIT PLANS - Components of Net Periodic Cost for Postretirement Benefits (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Expected Benefit Payments
Service cost	$ 8.0	$ 11.5	$ 12.1
Interest cost	35.0	19.9	18.8
Expected return on plan assets	(39.0)	(32.5)	(31.8)
Amortization of prior service benefit	(0.4)	(0.4)	(0.3)
Recognized net actuarial (gain) loss	(2.1)	7.7	12.6
Special Events
Settlement	3.5		9.1
Divestiture Charge		1.0
Net periodic pension cost (benefit)	5.0	7.2	20.5
United States
Expected Benefit Payments
Service cost	6.5	10.0	10.7
Interest cost	26.8	16.1	15.4
Expected return on plan assets	(30.6)	(27.0)	(25.8)
Amortization of prior service benefit	(0.3)	(0.3)	(0.1)
Recognized net actuarial (gain) loss	(2.2)	6.0	10.1
Special Events
Settlement	0.0		8.8
Divestiture Charge		0.0
Net periodic pension cost (benefit)	0.2	4.8	19.1
Germany
Expected Benefit Payments
Service cost	0.1	0.2	0.3
Interest cost	1.1	0.3	0.3
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 (gain) loss	0.0	0.9	1.3
Special Events
Settlement	0.0		0.0
Divestiture Charge		0.0
Net periodic pension cost (benefit)	1.2	1.4	1.9
United Kingdom
Expected Benefit Payments
Service cost	0.5	0.5	0.5
Interest cost	4.8	2.6	2.5
Expected return on plan assets	(5.8)	(3.9)	(4.6)
Amortization of prior service benefit	0.0	0.0	0.0
Recognized net actuarial (gain) loss	0.0	0.6	1.1
Special Events
Settlement	0.0		0.3
Divestiture Charge		0.0
Net periodic pension cost (benefit)	(0.5)	(0.2)	(0.2)
Netherlands
Expected Benefit Payments
Service cost	0.7	0.5	0.5
Interest cost	2.0	0.5	0.4
Expected return on plan assets	(2.1)	(0.8)	(0.7)
Amortization of prior service benefit	(0.1)	(0.1)	(0.2)
Recognized net actuarial (gain) loss	0.0	0.0	0.0
Special Events
Settlement	0.0		0.0
Divestiture Charge		0.0
Net periodic pension cost (benefit)	0.5	0.1	0.0
Other International
Expected Benefit Payments
Service cost	0.2	0.3	0.1
Interest cost	0.3	0.4	0.2
Expected return on plan assets	(0.5)	(0.8)	(0.7)
Amortization of prior service benefit	0.0	0.0	0.0
Recognized net actuarial (gain) loss	0.1	0.2	0.1
Special Events
Settlement	3.5		0.0
Divestiture Charge		1.0
Net periodic pension cost (benefit)	$ 3.6	$ 1.1	$ (0.3)

COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Accumulated Other Comprehensive Income (Loss)
Beginning balance, value	$ 1,761.3
Other Comprehensive Income (Loss)	(14.2)	$ (58.9)
Foreign Currency Translation Released from Business Divestment		113.1
Ending balance, value	1,947.9	1,761.3
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss)
Beginning balance, value	(316.5)	(295.4)
Other Comprehensive Income (Loss)	(1.2)	(134.2)
Foreign Currency Translation Released from Business Divestment		113.1
Ending balance, value	(317.7)	(316.5)
Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss)
Beginning balance, value	72.8	(3.6)
Other Comprehensive Income (Loss)	(1.1)	76.4
Foreign Currency Translation Released from Business Divestment		0.0
Ending balance, value	71.7	72.8
Minimum Pension Liability Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning balance, value	(58.6)	(57.5)
Other Comprehensive Income (Loss)	(11.9)	(1.1)
Foreign Currency Translation Released from Business Divestment		0.0
Ending balance, value	(70.5)	(58.6)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Beginning balance, value	(302.3)	(356.5)
Ending balance, value	$ (316.5)	$ (302.3)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

+ Details

ACQUISITIONS AND DIVESTITURES - Schedule of Intangible Assets Assumed (Details) - USD ($) $ in Millions	Aug. 23, 2023	Mar. 31, 2023	Dec. 15, 2022
ColePak, LLC
Business Acquisition [Line Items]
Purchase Price Allocation	$ 59.0
Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation		$ 92.8
Lee Container Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation			$ 133.5
Customer relationships \| ColePak, LLC
Business Acquisition [Line Items]
Purchase Price Allocation	$ 50.6
Weighted Average Estimated Useful Life	15 years
Customer relationships \| Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation		$ 77.5
Weighted Average Estimated Useful Life		12 years
Customer relationships \| Lee Container Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation			$ 120.0
Weighted Average Estimated Useful Life			15 years
Favorable leases \| Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation		$ 1.6
Weighted Average Estimated Useful Life		19 years
Trademarks \| ColePak, LLC
Business Acquisition [Line Items]
Purchase Price Allocation	$ 8.4
Weighted Average Estimated Useful Life	5 years
Trademarks \| Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation		$ 13.7
Weighted Average Estimated Useful Life		5 years
Trademarks \| Lee Container Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation			$ 13.5
Weighted Average Estimated Useful Life			5 years

EARNINGS PER SHARE - Summarization of Company's Class A and Class B Common and Treasury Shares (Details) - shares	Oct. 31, 2023	Oct. 31, 2022
Class A common stock
Class of Stock [Line Items]
Authorized Shares (in shares)	128,000,000	128,000,000
Issued Shares (in shares)	42,281,920	42,281,920
Outstanding Shares (in shares)	25,474,254	25,606,287
Treasury Shares (in shares)	16,807,666	16,675,633
Class B common stock
Class of Stock [Line Items]
Authorized Shares (in shares)	69,120,000	69,120,000
Issued Shares (in shares)	34,560,000	34,560,000
Outstanding Shares (in shares)	21,331,127	21,836,745
Treasury Shares (in shares)	13,228,873	12,723,255

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES - (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Site Contingency [Line Items]
Environmental liability reserves	$ 17.3	$ 19.0
Diamond Alkali
Site Contingency [Line Items]
Environmental liability reserves	9.8	9.8
Other Facilities
Site Contingency [Line Items]
Environmental liability reserves	$ 7.5	$ 9.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Amortization Expense on Other Intangible Assets (Details)	Oct. 31, 2023
Minimum \| Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years
Minimum \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years
Maximum \| Trademarks and 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

LONG-TERM DEBT - Other (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Debt Disclosure [Abstract]
Short-term borrowings	$ 5.4	$ 5.7
Annual maturities, long-term debt, 2024	516.6
Annual maturities, long-term debt, 2025	88.3
Annual maturities, long-term debt, 2026	88.3
Annual maturities, long-term debt, 2027	1,258.9
Annual maturities, long-term debt, 2028	266.3
Annual maturities, long-term debt, thereafter	$ 0.0

LEASES

12 Months Ended

Oct. 31, 2023

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 19 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, 2023, the Company had no significant leases that had not commenced.

The following table presents the lease expense components:


	Year Ended
(in millions)	October 31, 2023		October 31, 2022
Operating lease cost	$	64.4	$	64.6
Finance lease cost - amortization	4.8		1.3
Finance lease cost - interest	2.4		0.1
Other lease cost*	28.0		23.2
Total lease cost	$	99.6	$	89.2
*includes variable and short-term lease costs

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


(in millions)	Operating Leases		Finance Leases		Total expected payments
2024	$	64.8	$	6.7	$	71.5
2025	58.2		6.4		64.6
2026	49.2		6.3		55.5
2027	40.1		6.1		46.2
2028	32.0		6.1		38.1
Thereafter	106.4		18.4		124.8
Total lease payments	$	350.7	$	50.0	$	400.7
Less: interest	(56.7)		(18.7)		(75.4)
Lease liabilities	$	294.0	$	31.3	$	325.3

The following table presents the weighted-average lease term and discount rate as of October 31, 2023 and October 31, 2022:


	October 31, 2023		October 31, 2022
Weighted-average remaining lease term (years):
Operating leases	9.1		9.9
Finance leases	7.9		2.6
Weighted-average discount rate:
Operating leases	4.50	%	3.77	%
Finance leases	6.18	%	3.34	%

The following table presents other required lease related information:


(in millions)	October 31, 2023		October 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating liabilities	$	64.3	$	63.2
Financing cash flows used for finance leases	4.5		1.2
Leased assets obtained in exchange for new lease liabilities:
Leased assets obtained in exchange for new operating lease liabilities	95.0		22.3
Leased assets obtained in exchange for new finance lease liabilities	42.0		0.4

POST-RETIREMENT BENEFIT PLANS - Weighted Average Asset Allocations at Measurement Date and Target Asset Allocations (Details)	Oct. 31, 2023	Oct. 31, 2022
Expected Benefit Payments
Total, Target	100.00%	100.00%
Total, Actual		100.00%
Equity securities
Expected Benefit Payments
Total, Target	20.00%	20.00%
Total, Actual		20.00%
Debt securities
Expected Benefit Payments
Total, Target	62.00%	66.00%
Total, Actual		61.00%
Other
Expected Benefit Payments
Total, Target	18.00%	14.00%
Total, Actual		19.00%

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Net sales	$ 5,218.6	$ 6,349.5	$ 5,556.1
Costs of products sold	4,072.5	5,064.1	4,463.1
Gross profit	1,146.1	1,285.4	1,093.0
Selling, general and administrative expenses	549.1	581.0	565.9
Acquisition and integration related costs	19.0	8.7	9.1
Restructuring charges	18.7	13.0	23.1
Timberland gains, net	0.0	0.0	(95.7)
Non-cash asset impairment charges	20.3	71.0	8.9
Gain on disposal of properties, plants and equipment, net	(2.5)	(8.1)	(3.7)
(Gain) loss on disposals of businesses, net	(64.0)	(1.4)	0.2
Operating profit	605.5	621.2	585.2
Interest expense, net	96.3	61.2	92.7
Non-cash pension settlement charges	3.5	0.0	9.1
Debt extinguishment charges	0.0	25.4	0.0
Other expense, net	11.0	8.9	4.8
Income before income tax expense and equity earnings of unconsolidated affiliates, net	494.7	525.7	478.6
Income tax expense	117.8	137.1	69.6
Equity earnings of unconsolidated affiliates, net of tax	(2.2)	(5.4)	(4.2)
Net income	379.1	394.0	413.2
Net income attributable to noncontrolling interests	(19.9)	(17.3)	(22.5)
Net income attributable to Greif, Inc.	$ 359.2	$ 376.7	$ 390.7
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)	$ 6.22	$ 6.36	$ 6.57
Diluted earnings per share attributed to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	6.15	6.30	6.54
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)	9.32	9.53	9.84
Diluted earnings per share attributed to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	$ 9.32	$ 9.53	$ 9.84

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions

12 Months Ended

Oct. 31, 2023

Oct. 31, 2022

Oct. 31, 2021

Statement of Comprehensive Income [Abstract]

Net income

$ 379.1

$ 394.0

$ 413.2

Other comprehensive income (loss), net of tax:

Foreign currency translation

^[1]

(1.1)

(27.9)

(1.6)

Derivative financial instruments

(1.1)

76.4

21.1

Minimum pension liabilities

(11.9)

(1.1)

50.4

Other comprehensive (loss) income, net of tax

(14.1)

47.4

69.9

Comprehensive income

365.0

441.4

483.1

Comprehensive income attributable to noncontrolling interests

20.0

10.5

21.4

Comprehensive income attributable to Greif, Inc.

$ 345.0

$ 430.9

$ 461.7

[1]	Year ended October 31, 2022 amount includes $113.1 million release of foreign currency translation from business divestment.

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance of unrecognized tax benefit at November 1	$ 24.3	$ 31.0	$ 36.0
Increases in tax positions for prior years	0.6	0.2	1.2
Increases in tax positions for current years	4.1	5.9	1.7
Lapse in statute of limitations	(4.6)	(11.4)	(8.0)
Currency translation	(1.0)	(1.4)	0.1
Balance at October 31	$ 23.4	$ 24.3	$ 31.0

LONG-TERM DEBT

12 Months Ended

Oct. 31, 2023

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt is summarized as follows:


(in millions)	October 31, 2023		October 31, 2022
2022 Credit Agreement - Term Loans	$	1,493.8	$	1,565.0
2023 Credit Agreement - Term Loans	296.3		—

Accounts receivable credit facilities	351.0		311.4
2022 Credit Agreement - Revolving Credit Facility	77.3		41.9

Other debt	—		0.4
	2,218.4		1,918.7
Less current portion	88.3		71.1
Less deferred financing costs	8.7		8.3
Long-term debt, net	$	2,121.4	$	1,839.3

Credit Agreements

The Company and certain of its subsidiaries are parties to a senior secured credit agreement (the “2022 Credit Agreement”) with a syndicate of financial institutions.

The 2022 Credit Agreement provides for (a) an $800.0 million secured revolving credit facility, consisting of a $725.0 million multicurrency facility and a $75.0 million U.S. dollar facility, maturing on March 1, 2027, (b) a $1,100.0 million secured term loan A-1 facility with quarterly principal installments commencing on July 31, 2022 and continuing through January 31, 2027, with any outstanding principal balance of such term loan A-1 facility being due and payable on maturity on March 1, 2027, and (c) a $515.0 million secured term loan A-2 facility with quarterly principal installments commencing on July 31, 2022 and continuing through January 31, 2027, with any outstanding principal balance of such term loan A-2 being due and payable on maturity on March 1, 2027. Subject to the terms of the 2022 Credit Agreement, the Company has an option to borrow additional funds under the 2022 Credit Agreement with the agreement of the lenders.

Interest is based on Secured Overnight Financing Rate (“SOFR”) plus a credit spread adjustment or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio.

On May 17, 2023, the Company and Greif Packing LLC, a direct wholly owned subsidiary of Greif, Inc. (“Greif Packaging”), entered into a $300.0 million senior secured credit agreement (the “2023 Credit Agreement” and, together with the 2022 Credit Agreement, the “2022 and 2023 Credit Agreements”) with CoBank, ACB (“CoBank”), which acted as a lender and is acting as administrative agent of the 2023 Credit Agreement. The 2023 Credit Agreement is permitted incremental equivalent debt under the terms of the 2022 Credit Agreement. The 2023 Credit Agreement provides for a $300.0 million secured term loan facility with quarterly principal installments commencing on July 31, 2023 and continuing through January 31, 2028, with any outstanding principal balance of such term loan being due and payable on maturity on May 17, 2028. The Company used the borrowing under the 2023 Credit Agreement to repay and refinance a portion of the outstanding borrowings under the 2022 Credit Agreement.

Interest accruing under the 2023 Credit Agreement is based on SOFR plus a credit spread adjustment or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio.

As of October 31, 2023, $1,867.4 million was outstanding under the 2022 and 2023 Credit Agreements. The current portion was $88.3 million, and the long-term portion was $1,779.1 million. The weighted average interest rate for borrowings under the 2022 and 2023 Credit Agreements was 5.81% for the year ended October 31, 2023. The actual interest rate for borrowings under the 2022 and 2023 Credit Agreements was 6.65% as of October 31, 2023. The deferred financing costs associated with the term loan portion of the 2022 and 2023 Credit Agreements totaled $8.5 million as of October 31, 2023 and are recorded as a reduction of long-term debt on the consolidated balance sheets. The deferred financing costs associated with the revolving portion of the 2022 Credit Agreement totaled $3.5 million as of October 31, 2023 and are recorded within other long-term assets on the consolidated balance sheets.

United States Trade Accounts Receivable Credit Facility

On September 24, 2019, certain U.S. subsidiaries of Greif, Inc. amended and restated the existing receivables financing facility (the “U.S. RFA”). Greif Receivables Funding LLC (“Greif Funding”), Greif Packaging LLC, 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. On May 17, 2023, the Third Amended TAA was amended with a new maturity date of May 17, 2024 and provides an accounts receivables facility of $300.0 million.

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. RFA 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. RFA. The $270.9 million outstanding balance under the U.S. RFA as of October 31, 2023 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 April 14, 2023, Cooperage Receivables Finance B.V. and Greif Services Belgium BV, an indirect wholly owned subsidiary of Greif, Inc., amended and restated the Nieuw Amsterdam Receivables Financing Agreement (the “European RFA”) with affiliates of a major international bank. The amended and restated European RFA matures April 24, 2024. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($105.7 million as of October 31, 2023) secured by certain European accounts receivable. The $80.1 million outstanding on the European RFA as of October 31, 2023 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.

Other

The Company had short-term borrowings of $5.4 million and $5.7 million as of October 31, 2023 and 2022, respectively. There are no financial covenants associated with this other debt.

As of October 31, 2023, annual scheduled payments and maturities, including the current portion of long-term debt, were $516.6 million in 2024, $88.3 million in 2025, $88.3 million in 2026, $1,258.9 million in 2027, $266.3 million in 2028 and zero thereafter.

Audit Information	12 Months Ended
Audit Information	Oct. 31, 2023
Auditor Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Columbus, Ohio
Auditor Firm ID	34

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


(in millions)	Global Industrial Packaging (1)		Paper Packaging & Services		Total
Balance at October 31, 2021	$	747.3	$	768.1	$	1,515.4




Currency translation	(50.7)		(0.2)		(50.9)
Balance at October 31, 2022	$	696.6	$	767.9	$	1,464.5
Goodwill acquired	175.4		60.1		235.5
Goodwill allocated to divestitures	—		(22.5)		(22.5)


Currency translation	15.6		(0.1)		15.5
Balance at October 31, 2023	$	887.6	$	805.4	$	1,693.0

(1)Accumulated goodwill impairment loss was $63.3 million as of October 31, 2023, 2022 and 2021, 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, 2023 and 2022:


(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
October 31, 2023:
Indefinite lived:
Trademarks and trade names	$	7.9	$	—	$	7.9
Definite lived:
Customer relationships	1,031.1		283.2		747.9
Trademarks and trade names	44.3		9.6		34.7
Other	2.1		0.4		1.7
Total	$	1,085.4	$	293.2	$	792.2

October 31, 2022:
Indefinite lived:
Trademarks and trade names	$	7.9	$	—	$	7.9
Definite lived:
Customer relationships	834.5		270.0		564.5
Trademarks and trade names	8.3		4.6		3.7
Other	0.7		0.6		0.1
Total	$	851.4	$	275.2	$	576.2

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

LONG-TERM DEBT - Credit Agreement (Details) - USD ($)	Oct. 31, 2023	May 17, 2023	Oct. 31, 2022	Mar. 01, 2022
Debt Instrument [Line Items]
Long-term debt	$ 2,218,400,000		$ 1,918,700,000
Current portion of long-term debt	88,300,000		71,100,000
Long-term debt, net	2,121,400,000		1,839,300,000
2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	1,867,400,000
Current portion of long-term debt	88,300,000
Long-term debt, net	$ 1,779,100,000
Weighted average interest rate	5.81%
Actual interest rate	6.65%
Term Loan \| Secured Term Loan A-1 Facility
Debt Instrument [Line Items]
Amount of debt				$ 1,100,000,000
Term Loan \| Secured Term Loan A-2 Facility
Debt Instrument [Line Items]
Amount of debt				515,000,000
Revolving Credit Facility \| 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	$ 77,300,000		$ 41,900,000
Debt issuance costs	3,500,000
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 300,000,000		800,000,000
Multicurrency Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				725,000,000
U.S. Dollar Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 75,000,000
Term Loan \| 2022 Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs	$ 8,500,000

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
$ in Millions

Total

Executive Officer

Director

Class A common stock

Class B common stock

Greif, Inc. Equity

Executive Officer

Greif, Inc. Equity

Director

Capital Stock

Executive Officer

Capital Stock

Director

Treasury Stock

Executive Officer

Treasury Stock

Director

Retained Earnings

Accumulated Other Comprehensive Income (Loss)

Non controlling Interests

Beginning balance (in shares) at Oct. 31, 2020

48,450,000

Beginning balance, treasury stock (in shares) at Oct. 31, 2020

28,392,000

Beginning balance, value at Oct. 31, 2020

$ 1,200.7

$ 1,152.2

$ 170.2

$ (134.4)

$ 1,543.9

$ (427.5)

$ 48.5

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

413.2

390.7

22.5

Other comprehensive income (loss):

Foreign currency translation

(1.6)

^[1]

(0.5)

(1.1)

Derivative financial instruments, net of income tax expense

21.1

Minimum pension liability adjustment, net of income tax expense

50.4

Comprehensive income

483.1

461.7

Current period mark to redemption value of redeemable noncontrolling interest and other

(2.6)

Net income allocated to redeemable noncontrolling interests

(2.4)

Dividends paid to Greif, Inc.,

(105.8)

Dividends paid to noncontrolling interests and other

(6.2)

Dividends earned on RSU shares

(0.6)

Long-term incentive shares issued (in shares)

80,000

(80,000)

Long-term incentive shares issued

4.1

$ 3.9

$ 0.2

Share based compensation

3.9

$ 3.9

Restricted stock executives and directors (in shares)

3,000

26,000

(3,000)

(26,000)

Restricted stock executives and directors

$ 0.1

$ 1.3

$ 0.1

$ 1.3

$ 0.1

$ 1.2

$ 0.1

Ending balance (in shares) at Oct. 31, 2021

48,559,000

Ending balance, treasury stock (in shares) at Oct. 31, 2021

28,283,000

Ending balance, value at Oct. 31, 2021

1,575.6

1,514.3

$ 179.3

$ (134.1)

1,825.6

(356.5)

61.3

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

394.0

376.7

17.3

Other comprehensive income (loss):

Foreign currency translation

(27.9)

^[1]

(21.1)

(6.8)

Derivative financial instruments, net of income tax expense

76.4

Minimum pension liability adjustment, net of income tax expense

(1.1)

Comprehensive income

441.4

430.9

Divestment of noncontrolling interest

(23.3)

Current period mark to redemption value of redeemable noncontrolling interest and other

5.5

Net income allocated to redeemable noncontrolling interests

(0.1)

Dividends paid to Greif, Inc.,

(111.3)

Dividends paid to noncontrolling interests and other

(15.4)

Dividends earned on RSU shares

(1.3)

Share repurchases (in shares)

(1,192,000)

1,192,000

Share repurchases

(86.1)

$ (15.0)

$ (71.1)

Long-term incentive shares issued (in shares)

51,000

(51,000)

Long-term incentive shares issued

3.1

$ 3.0

$ 0.1

Share based compensation

4.9

$ 4.9

Restricted stock executives and directors (in shares)

3,000

22,000

(3,000)

(22,000)

Restricted stock executives and directors

$ 0.1

1.2

$ 0.1

1.2

$ 0.1

$ 1.2

$ 0.0

Ending balance (in shares) at Oct. 31, 2022

25,606,287

21,836,745

47,443,000

Ending balance, treasury stock (in shares) at Oct. 31, 2022

16,675,633

12,723,255

29,399,000

Ending balance, value at Oct. 31, 2022

1,794.3

1,761.3

$ 173.5

$ (205.1)

2,095.2

(302.3)

33.0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

379.1

359.2

19.9

Other comprehensive income (loss):

Foreign currency translation

(1.1)

^[1]

(1.2)

0.1

Derivative financial instruments, net of income tax expense

(1.1)

Minimum pension liability adjustment, net of income tax expense

(11.9)

Comprehensive income

365.0

345.0

Current period mark to redemption value of redeemable noncontrolling interest and other

0.1

Net income allocated to redeemable noncontrolling interests

(2.7)

Dividends paid to Greif, Inc.,

(116.5)

Dividends paid to noncontrolling interests and other

(11.9)

Dividends earned on RSU shares

(0.1)

Share repurchases (in shares)

(1,006,000)

1,006,000

Share repurchases

(64.4)

$ 14.5

$ (78.9)

Long-term incentive shares issued (in shares)

350,000

(350,000)

Long-term incentive shares issued

16.7

$ 14.7

$ 2.0

Share based compensation

4.2

Restricted stock executives and directors (in shares)

18,000

(18,000)

Restricted stock executives and directors

$ 1.3

$ 1.2

$ 0.1

Colleague stock purchase plan

0.3

$ 0.3

Ending balance (in shares) at Oct. 31, 2023

25,474,254

21,331,127

46,805,000

Ending balance, treasury stock (in shares) at Oct. 31, 2023

16,807,666

13,228,873

30,037,000

Ending balance, value at Oct. 31, 2023

$ 1,986.3

$ 1,947.9

$ 208.4

$ (281.9)

$ 2,337.9

$ (316.5)

$ 38.4

[1]	Year ended October 31, 2022 amount includes $113.1 million release of foreign currency translation from business divestment.

RESTRUCTURING CHARGES (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at October 31, 2021	$	18.6	$	1.7	$	20.3
Costs incurred and charged to expense	6.3		6.7		13.0
Costs paid or otherwise settled	(13.7)		(7.3)		(21.0)
Balance at October 31, 2022	$	11.2	$	1.1	$	12.3
Costs incurred and charged to expense	11.8		6.9		18.7
Costs paid or otherwise settled	(6.6)		(7.6)		(14.2)
Balance at October 31, 2023	$	16.4	$	0.4	$	16.8

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

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 $12.0 million as of October 31, 2023:


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the year ended October 31, 2023		Amounts Remaining to be Incurred
Global Industrial Packaging:
Employee separation costs	$	8.8	$	3.0	5.8
Other restructuring costs	2.5		1.2		1.3
	11.3		4.2		7.1
Paper Packaging & Services:
Employee separation costs	10.2		8.8		1.4
Other restructuring costs	9.2		5.7		3.5
	19.4		14.5		4.9




Total	$	30.7	$	18.7	$	12.0

LONG-TERM DEBT (Tables)

12 Months Ended

Oct. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt is summarized as follows:


(in millions)	October 31, 2023		October 31, 2022
2022 Credit Agreement - Term Loans	$	1,493.8	$	1,565.0
2023 Credit Agreement - Term Loans	296.3		—

Accounts receivable credit facilities	351.0		311.4
2022 Credit Agreement - Revolving Credit Facility	77.3		41.9

Other debt	—		0.4
	2,218.4		1,918.7
Less current portion	88.3		71.1
Less deferred financing costs	8.7		8.3
Long-term debt, net	$	2,121.4	$	1,839.3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Oct. 31, 2023

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, jerrycans and other small plastics, closure systems for industrial packaging products, transit protection products, water bottles and remanufactured and reconditioned industrial containers, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services. The Company produces and sells 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 produces and sells coated recycled paperboard and uncoated recycled paperboard, some of which are used to produce and sell industrial products (tubes and cores, construction products and protective packaging). The Company produces and sells bulk and specialty partitions made from both containerboard and uncoated recycled paperboard. In addition, the Company also purchases and sells recycled fiber and produces and sells adhesives used in the Company’s paperboard products. The Company owns timber properties in the southeastern United States which are actively harvested and regenerated. The Company has operations in over 35 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 12,000 full time employees of the Company as of October 31, 2023.

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

The allowance for doubtful accounts totaled $6.2 million and $6.1 million as of October 31, 2023 and 2022, respectively. 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 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. 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, 2023, 2022 and 2021.

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

In accordance with ASC 350, the Company has the option to first assess qualitative factors to determine whether it is necessary to perform the quantitative test for goodwill impairment. If the Company believes, as a result of its qualitative assessment, that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test

is required. The quantitative test for goodwill impairment is conducted at the reporting unit level by comparing the carrying value of each reporting unit to the estimated fair value of the unit. If the carrying value of a reporting unit exceeds its estimated fair value, then the goodwill of the reporting unit is impaired. Goodwill impairment is recognized as the amount that the carrying value exceeds the fair value; not to exceed the balance of goodwill attributable to the reporting unit. When a portion of a reporting unit is disposed of, goodwill is allocated to the gain or loss on that disposition based on the relative fair values of the portion of the reporting unit subject to disposition and the portion of the reporting unit that will be retained.

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


			Years
Trademarks and trade names			5-15
Customer relationships			5-23

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 income. 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 acquire and develop the software during the application development stage and for upgrades and enhancements that provide additional functionality are capitalized and then amortized over a 3 to 7 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, with general useful lives of the assets as follows:


			Years
Buildings			30
Machinery and equipment			10-15

Depreciation expense was $156.8 million, $138.1 million and $164.6 million in 2023, 2022 and 2021, 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, 2023, 2022 and 2021, 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. Future decisions to change the Company’s 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, 2023, 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, 2023, 2022 and 2021, 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 $7.0 million and $7.9 million for estimated costs related to outstanding claims as of October 31, 2023 and 2022, 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 net liabilities totaling $22.2 million and $24.7 million for anticipated costs related to general liability, product, vehicle and workers’ compensation claims as of October 31, 2023 and 2022, 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.

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.

For termination costs associated with employees who are involuntarily terminated under the terms of a one-time benefit arrangement, the Company recognizes liabilities and associated costs as of announcement date unless the employees are required to stay for a certain period of time after restructuring announcement and ratable recognition between the announcement date and termination date is materially different from announcement date recognition. For termination costs associated with a non-lease contract and costs incurred without economic benefit as a result of restructuring activities, the Company recognizes liabilities and associated costs as of contract termination date. Facility exit and employee relocation costs are recognized and measured at their respective fair value in the period in which the liability is incurred. 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.

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, 2023, 2022 and 2021.

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 agreements synthetically swap United States dollar denominated fixed rate debt for Euro denominated fixed rate debt and are designated as either net investment hedges or cash flow hedges for accounting purposes. 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. 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 from 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.

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 Consolidated Financial Statements included in Item 8 of this Form 10-K.

Newly Adopted Accounting Standards

There have been no new accounting pronouncements adopted since the filing of the 2022 Form 10-K.

Recently Issued Accounting Standards

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU for fiscal year-end and interim period is November 1, 2024 and November 1, 2025 respectively. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 78.4	$ 72.1
Liabilities	0.0	(1.0)
Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.1	0.0
Liabilities	(0.1)	(0.2)
Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	18.8	17.8
Liabilities	0.0	0.0
Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	18.9	46.8
Liabilities	0.0	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
Liabilities	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	78.4	72.1
Liabilities	0.0	(1.0)
Level 2 \| Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.1	0.0
Liabilities	(0.1)	(0.2)
Level 2 \| Insurance annuity
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 \| Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	18.9	46.8
Liabilities	0.0	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	18.8	17.8
Liabilities	0.0	0.0
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

INCOME TAXES (Tables)

12 Months Ended

Oct. 31, 2023

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)	2023		2022		2021
Current
Federal	$	77.4	$	54.6	$	45.0
State and local	19.6		19.9		15.5
Non-U.S.	49.1		49.2		56.3
Total Current	146.1		123.7		116.8
Deferred
Federal	(18.8)		12.5		(33.0)
State and local	(8.6)		(6.6)		(9.9)
Non-U.S.	(0.9)		7.5		(4.3)
Total Deferred	(28.3)		13.4		(47.2)
Tax expense	$	117.8	$	137.1	$	69.6

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,
	2023		2022		2021
Federal statutory rate	21.00	%	21.00	%	21.00	%
Impact of foreign tax rate differential	1.78	%	2.03	%	0.70	%
State and local taxes, net of federal tax benefit	1.71	%	2.01	%	0.93	%
Net impact of changes in valuation allowances	(2.21)	%	(1.05)	%	(2.57)	%



Permanent book-tax differences	(0.25)	%	1.60	%	0.86	%
Withholding taxes	2.95	%	2.33	%	2.86	%
Tax credits	(1.40)	%	(0.99)	%	(1.57)	%
Capital losses	—	%	—	%	(5.70)	%
Other items, net	0.23	%	(0.84)	%	(1.99)	%
Company’s effective income tax rate	23.81	%	26.09	%	14.52	%

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)	2023		2022
Deferred tax assets
Net operating loss and other carryforwards	$	104.9	$	101.8



Incentive liabilities	18.6		28.6



Operating lease liabilities	70.3		65.5

Other reserves	16.0		13.0

Research and development expenses	29.7		—
Other	45.4		52.8





Total deferred tax assets	284.9		261.7
Valuation allowance	(97.3)		(105.4)
Net deferred tax assets	$	187.6	$	156.3

Deferred tax liabilities
Properties, plants and equipment	$	157.2	$	138.4
Operating lease assets	70.3		65.5
Timberland transactions	51.6		51.8
Goodwill and other intangible assets	150.6		174.0


Pension liabilities	10.6		8.4
Other	50.0		51.7
Total deferred tax liabilities	490.3		489.8
Net deferred tax liability	$	302.7	$	333.5

Schedule of Reconciliation of Unrecognized Tax Benefits

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


(in millions)	2023		2022		2021
Balance of unrecognized tax benefit at November 1	$	24.3	$	31.0	$	36.0
Increases in tax positions for prior years	0.6		0.2		1.2

Increases in tax positions for current years	4.1		5.9		1.7

Lapse in statute of limitations	(4.6)		(11.4)		(8.0)
Currency translation	(1.0)		(1.4)		0.1
Balance at October 31	$	23.4	$	24.3	$	31.0

REDEEMABLE NONCONTROLLING INTERESTS

12 Months Ended

Oct. 31, 2023

Noncontrolling Interest [Abstract]

REDEEMABLE NONCONTROLLING INTERESTS

Redeemable noncontrolling interests related to joint ventures 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, 2023 and 2022:


(in millions)	Redeemable Noncontrolling Interest
Balance as of October 31, 2021	$	24.1
Current period mark to redemption value	(5.5)

Repurchase of redeemable shareholder interest	(1.9)
Redeemable noncontrolling interest share of income	0.1
Dividends to redeemable noncontrolling interest and other	(1.0)
Balance as of October 31, 2022	15.8
Current period mark to redemption value	(0.1)
Repurchase of redeemable shareholder interest	(4.6)
Acquisition of redeemable shareholder interest	113.0
Redeemable noncontrolling interest share of income	2.7
Dividends to redeemable noncontrolling interest and other	(1.5)
Balance as of October 31, 2023	$	125.3

LEASES - Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Cash Flow (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating liabilities	$ 64.3	$ 63.2
Financing cash flows used for finance leases	4.5	1.2
Leased assets obtained in exchange for new lease liabilities:
Leased assets obtained in exchange for new operating lease liabilities	95.0	22.3
Leased assets obtained in exchange for new finance lease liabilities	$ 42.0	$ 0.4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Depreciation on Properties, Plants and Equipment (Details)	Oct. 31, 2023
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

INCOME TAXES - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%	21.00%
Impact of foreign tax rate differential	1.78%	2.03%	0.70%
State and local taxes, net of federal tax benefit	1.71%	2.01%	0.93%
Net impact of changes in valuation allowances	(2.21%)	(1.05%)	(2.57%)
Permanent book-tax differences	(0.25%)	1.60%	0.86%
Withholding taxes	2.95%	2.33%	2.86%
Tax credits	(1.40%)	(0.99%)	(1.57%)
Capital losses	0.00%	0.00%	(5.70%)
Other items, net	0.23%	(0.84%)	(1.99%)
Company’s effective income tax rate	23.81%	26.09%	14.52%

BUSINESS SEGMENT INFORMATION - Additional Information (Details) a in Thousands	12 Months Ended
	Oct. 31, 2023 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
Global Industrial Packaging
Segment Reporting Information [Line Items]
Number of operating segments	4

REDEEMABLE NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


(in millions)	Redeemable Noncontrolling Interest
Balance as of October 31, 2021	$	24.1
Current period mark to redemption value	(5.5)

Repurchase of redeemable shareholder interest	(1.9)
Redeemable noncontrolling interest share of income	0.1
Dividends to redeemable noncontrolling interest and other	(1.0)
Balance as of October 31, 2022	15.8
Current period mark to redemption value	(0.1)
Repurchase of redeemable shareholder interest	(4.6)
Acquisition of redeemable shareholder interest	113.0
Redeemable noncontrolling interest share of income	2.7
Dividends to redeemable noncontrolling interest and other	(1.5)
Balance as of October 31, 2023	$	125.3

RESTRUCTURING CHARGES

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at October 31, 2021	$	18.6	$	1.7	$	20.3
Costs incurred and charged to expense	6.3		6.7		13.0
Costs paid or otherwise settled	(13.7)		(7.3)		(21.0)
Balance at October 31, 2022	$	11.2	$	1.1	$	12.3
Costs incurred and charged to expense	11.8		6.9		18.7
Costs paid or otherwise settled	(6.6)		(7.6)		(14.2)
Balance at October 31, 2023	$	16.4	$	0.4	$	16.8

The focus for restructuring activities in 2023 was to optimize and integrate operations and close underperforming plants in the Paper Packaging & Services reportable segment and to optimize and rationalize operations in the Global Industrial Packaging reportable segment. During the year ended October 31, 2023, the Company recorded restructuring charges of $18.7 million, as compared to $13.0 million of restructuring charges recorded during the year ended October 31, 2022. The restructuring activity for the year ended October 31, 2023 consisted of $11.8 million in employee separation costs and $6.9 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. There were nine plants closed or divested in 2023 and a total of 456 employees severed throughout 2023 as part of the Company’s restructuring efforts.

The focus for restructuring activities in 2022 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 2022, the Company recorded restructuring charges of $13.0 million, consisting of $6.3 million in employee separation costs and $6.7 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. There were seventeen plants closed or divested in 2022 and a total of 132 employees severed throughout 2022 as part of the Company’s restructuring efforts.

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 2021, the Company recorded restructuring charges of $23.1 million, consisting of $14.9 million in employee separation costs and $8.2 million in other restructuring costs, primarily consisting of professional fees incurred for services specifically associated with employee separation and relocation. There were five plants closed or divested in 2021 and a total of 177 employees severed throughout 2021 as part of the Company’s restructuring efforts.


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the year ended October 31, 2023		Amounts Remaining to be Incurred
Global Industrial Packaging:
Employee separation costs	$	8.8	$	3.0	5.8
Other restructuring costs	2.5		1.2		1.3
	11.3		4.2		7.1
Paper Packaging & Services:
Employee separation costs	10.2		8.8		1.4
Other restructuring costs	9.2		5.7		3.5
	19.4		14.5		4.9




Total	$	30.7	$	18.7	$	12.0

POST-RETIREMENT BENEFIT PLANS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Expected Benefit Payments
Company's pension contributions	$ 27.5
Expected return on plan assets	4.99%	3.86%	3.87%
United States
Expected Benefit Payments
Defined benefit plan, annuity	$ 5.9
Lump sum payments	1.8
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Flexible Packaging JV \| United States
Expected Benefit Payments
Projected benefit obligation		$ 2.4
Pension Plan
Expected Benefit Payments
Company's pension contributions	23.7	31.4	$ 21.9
Company's pension contributions paid directly by the Company	3.8
Company's estimated pension contributions	20.9
Projected benefit obligation	604.1	651.7	989.2
Loss of settlement		1.0
Pension Plan \| United States
Expected Benefit Payments
Defined benefit plan asset	7.7
Decrease for settlement	3.5
Projected benefit obligation	437.5	470.3	679.6
Loss of settlement		0.0
401 (k) Savings Plan
Expected Benefit Payments
Company contributions to 401(k) plans	$ 29.1	$ 24.4	$ 21.9

ACQUISITIONS AND DIVESTITURES - Additional Information (Details) - USD ($) $ in Millions					3 Months Ended	12 Months Ended
	Oct. 01, 2023	Aug. 23, 2023	Mar. 31, 2023	Dec. 15, 2022	Jan. 31, 2023	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Mar. 30, 2023
Business Acquisition [Line Items]
Goodwill						$ 1,693.0	$ 1,464.5	$ 1,515.4
Proceeds from divestiture of businesses						105.3	139.2	2.7
Gain (loss) on disposal of business						64.0	$ 1.4	$ (0.2)
Discontinued Operations, Disposed of by Sale \| Tama Divestiture
Business Acquisition [Line Items]
Proceeds from divestiture of businesses					$ 100.0
Gain (loss) on disposal of business					54.6
Disposal group, including discontinued operation, goodwill					$ 22.5
ColePak, LLC
Business Acquisition [Line Items]
Ownership percent acquired		51.00%
Purchase of businesses, net of cash acquired		$ 74.6
Fair value of remaining non-controlling interest		49.00%
Noncontrolling interest		$ 72.1
Goodwill		$ 60.1
Business combination, pro forma information, revenue of acquiree since acquisition date, actual						10.4
Centurion Container LLC
Business Acquisition [Line Items]
Ownership percent acquired			80.00%						10.00%
Purchase of businesses, net of cash acquired			$ 144.5
Fair value of remaining non-controlling interest			20.00%
Noncontrolling interest			$ 40.9
Goodwill			95.4
Business combination, pro forma information, revenue of acquiree since acquisition date, actual						55.0
Business acquisition, transaction costs			16.8
Business combination, step acquisition, equity interest in acquiree, remeasurement gain (loss)			$ 9.8
Lee Container Acquisition
Business Acquisition [Line Items]
Purchase of businesses, net of cash acquired				$ 303.0
Goodwill				75.9
Business combination, pro forma information, revenue of acquiree since acquisition date, actual						$ 109.4
Acquisition-related cost				$ 5.1
Lee Container Acquisition \| Minimum \| Building and Building Improvements
Business Acquisition [Line Items]
Useful life				1 year
Lee Container Acquisition \| Minimum \| Equipment
Business Acquisition [Line Items]
Useful life				1 year
Lee Container Acquisition \| Maximum \| Building and Building Improvements
Business Acquisition [Line Items]
Useful life				9 years
Lee Container Acquisition \| Maximum \| Equipment
Business Acquisition [Line Items]
Useful life				19 years
Reliance Acquisition
Business Acquisition [Line Items]
Purchase of businesses, net of cash acquired	$ 20.2
Goodwill	4.1
Intangible assets acquired	$ 1.1

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($)		3 Months Ended	12 Months Ended
	Jan. 03, 2022	Jan. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Dec. 15, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest income (expense), net			$ (96,300,000)	$ (61,200,000)	$ (92,700,000)
Non-cash asset impairment charges			20,300,000	71,000,000.0	8,900,000
Carrying value of impaired asset			30,500,000	4,000,000	9,900,000
Long-lived assets, fair value			10,200,000	0	$ 1,000,000
Impairment of long lived assets			20,300,000	4,000,000
Impairment of indefinite lived intangibles				4,600,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]					Non-cash asset impairment charges
Land and Building
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of assets held for sale		$ 62,400,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Flexible Packaging JV
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Percent divested from joint venture	50.00%
Global Industrial Packaging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of long lived assets			1,900,000	2,300,000	$ 2,700,000
Impairment of intangible assets					1,200,000
Paper Packaging & Services
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Impairment of long lived assets			18,400,000	1,700,000	5,000,000
Interest rate derivatives \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount			$ 1,300,000,000
Interest rate			2.62%
Other comprehensive loss, cash flow hedge, gain (loss), before reclassification and tax			$ 28,500,000	(8,400,000)	(18,100,000)
Derivative gain			31,900,000
Interest rate derivatives \| Cash Flow Hedging \| Subsequent Event
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount						$ 250,000,000
Interest rate						4.20%
Foreign exchange hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount			66,000,000	132,100,000
Realized gains (losses) recorded under fair value contracts			1,200,000	(6,200,000)	400,000
Unrealized gain (loss) on foreign currency			0	(200,000)	0
Foreign exchange hedges \| Subsequent Event
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount						$ 268,000,000
Cross currency swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount			$ 319,300,000
Derivative, interest rate			1.39%
Interest income (expense), net			$ 5,100,000	$ 5,800,000	$ 2,200,000
Cross currency swap \| Subsequent Event
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative notional amount						$ 213,200,000
Derivative, interest rate						1.31%

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Carrying Amount of Net Intangible Assets by Class (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Indefinite-Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	$ 7.9
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	1,085.4	$ 851.4
Accumulated Amortization	293.2	275.2
Net Intangible Assets	792.2	576.2
Trademarks and trade names
Indefinite-Lived Intangible Assets [Line Items]
Indefinite lived intangible assets	7.9	7.9
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	1,031.1	834.5
Accumulated Amortization	283.2	270.0
Net Intangible Assets	747.9	564.5
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	44.3	8.3
Accumulated Amortization	9.6	4.6
Net Intangible Assets	34.7	3.7
Other
Finite-Lived Intangible Assets [Line Items]
Gross Intangible Assets	2.1	0.7
Accumulated Amortization	0.4	0.6
Net Intangible Assets	$ 1.7	$ 0.1

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Derivative, income tax expense (benefit)	$ (0.3)	$ 25.2	$ 7.0
Minimum pension liability adjustment, income tax expense	$ 4.7	5.4	$ 15.8
Business divestment release		$ 113.1
Class A common stock
Dividend paid (in usd per share)	$ 2.02	$ 1.88	$ 1.78
Class B common stock
Dividend paid (in usd per share)	$ 3.02	$ 2.81	$ 2.66

ACQUISITIONS AND DIVESTITURES - Pro forma (Details) - Lee Container Acquisition - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Pro forma net sales	$ 5,276.5	$ 6,607.6
Pro forma net income attributable to Greif, Inc.	$ 361.0	$ 380.5
Class A common stock
Basic earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	$ 6.25	$ 6.42
Diluted earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	6.18	6.36
Class B common stock
Basic earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	9.36	9.62
Diluted earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	$ 9.36	$ 9.62

POST-RETIREMENT BENEFIT PLANS - Future Benefit Payments Next Five Years and Thereafter (Details) - Pension Plan $ in Millions	Oct. 31, 2023 USD ($)
Expected Benefit Payments
2024	$ 53.6
2025	50.5
2026	50.6
2027	51.9
2028	51.3
2029-2033	$ 253.9

POST-RETIREMENT BENEFIT PLANS - Actuarial Assumptions Used to Measure Pension Costs (Details) (Details)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Retirement Benefits [Abstract]
Discount rate	5.61%	2.55%	2.48%
Expected Return on plan assets	4.99%	3.86%	3.87%
Rate of compensation increase	2.99%	2.96%	2.91%

LONG-TERM DEBT - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 2,218.4	$ 1,918.7
Less current portion	88.3	71.1
Less deferred financing costs	8.7	8.3
Long-term debt	2,121.4	1,839.3
2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	1,867.4
Less current portion	88.3
Long-term debt	1,779.1
Other debt
Debt Instrument [Line Items]
Long-term debt	0.0	0.4
Term Loan \| 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	1,493.8	1,565.0
Term Loan \| 2023 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	296.3	0.0
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	351.0	311.4
Revolving Credit Facility \| 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	$ 77.3	$ 41.9

POST-RETIREMENT BENEFIT PLANS - Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Plan assets	$ 584.0	$ 624.6
Pension Plan
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	604.1	651.7	$ 989.2
Accumulated benefit obligation	589.8	636.2
Plan assets	584.0	624.6	950.8
Accumulated benefit obligation	104.4	106.6
Plan assets	49.4	50.3
Pension Plan \| United States
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	437.5	470.3	679.6
Accumulated benefit obligation	424.5	456.1
Plan assets	431.6	451.1	646.4
Accumulated benefit obligation	28.7	30.6
Plan assets	0.0	0.0
Pension Plan \| Germany
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	26.4	25.9	39.3
Accumulated benefit obligation	25.9	25.3
Plan assets	0.0	0.0	0.0
Accumulated benefit obligation	25.9	25.3
Plan assets	0.0	0.0
Pension Plan \| United Kingdom
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	89.5	95.8	174.1
Accumulated benefit obligation	89.5	95.8
Plan assets	99.8	111.6	205.4
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	50.6	51.4	82.5
Accumulated benefit obligation	49.8	50.7
Plan assets	49.4	50.3	84.5
Accumulated benefit obligation	49.8	50.7
Plan assets	49.4	50.3
Pension Plan \| Other International
Pension Plans, Postretirement and Other Employee Benefits [Line Items]
Projected benefit obligation	0.1	8.3	13.7
Accumulated benefit obligation	0.1	8.3
Plan assets	3.2	11.6	$ 14.5
Accumulated benefit obligation	0.0	0.0
Plan assets	$ 0.0	$ 0.0

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, 2023	Oct. 31, 2022
Defined Benefit Plan, Changes in Accumulated Other Comprehensive (Income) Loss [Roll Forward]
Accumulated other comprehensive loss at beginning of year	$ 92.0	$ 85.2
Increase or (decrease) in accumulated other comprehensive loss
Net prior service benefit amortized	0.4	0.4
Net gain (loss) amortized	2.1	(7.7)
Loss recognized due to settlement	(3.5)	0.0
Loss recognized due to divestiture	0.0	(1.0)
Liability gain	(24.3)	(265.9)
Asset loss	39.9	290.8
Other adjustments	0.0	(0.5)
Increase in accumulated other comprehensive loss	14.6	16.1
Foreign currency impact	2.6	(9.3)
Accumulated other comprehensive loss at year end	$ 109.2	$ 92.0

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) employee in Thousands, a in Thousands	12 Months Ended
	Oct. 31, 2023 USD ($) a employee country productClass block	Oct. 31, 2022 USD ($)	Oct. 31, 2021 USD ($)
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of countries in which company operates \| country	35
Approximate number of employees \| employee	12
Allowance for trade accounts receivable	$ 6,200,000	$ 6,100,000
Investment in short term financial instruments, term	3 months
Losses on short term investments	$ 0	0	$ 0
Depreciation expense on properties, plants and equipment	$ 156,800,000	138,100,000	$ 164,600,000
Measurement area of timber properties in the south eastern United States which are actively managed in acres \| a	175
Number of product classes \| productClass	5
Number of depletion blocks \| block	5
Self insurance reserve	$ 7,000,000	7,900,000
Liabilities for anticipated costs	$ 22,200,000	$ 24,700,000
Software and Software Development Costs \| Minimum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	3 years
Software and Software Development Costs \| Maximum
Basis Of Presentation And Significant Accounting Policies [Line Items]
Useful life	7 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

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	12 Months Ended
CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	Oct. 31, 2023
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. Environmental Reserves As of October 31, 2023 and October 31, 2022, the Company has accrued $9.8 million for 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. Aside from the Diamond Alkali Superfund Site, other environmental reserves of the Company as of October 31, 2023 and October 31, 2022 included $7.5 million and $9.2 million, respectively, for its various facilities around the world. As of October 31, 2023 and October 31, 2022, the Company’s environmental reserves were $17.3 million and $19.0 million, respectively. These reserves are principally based on environmental studies and cost estimates provided by third parties, but also take into account management estimates. The estimated liabilities are reduced to reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of relevant costs. For sites that involve formal actions subject to joint and several liabilities, these actions have formal agreements in place to apportion the liability.

POST-RETIREMENT BENEFIT PLANS

12 Months Ended

Oct. 31, 2023

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 and the United Kingdom. The Company uses a measurement date of October 31 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 and South Africa for October 31, 2023 and Canada, South Africa and Turkey for October 31, 2022.

Pension plan contributions by the Company totaled $27.5 million during 2023, which consisted of $23.7 million of employer contributions and $3.8 million of benefits paid directly by the Company. Pension plan contributions, including benefits paid directly by the Company, totaled $31.4 million and $21.9 million during 2022 and 2021, respectively. Contributions, including benefits paid directly by the Company, during 2024 are expected to be approximately $20.9 million.

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


October 31, 2023	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	1,509	1,416	27	—	66	—
Vested former employees and deferred members	3,181	2,690	73	290	100	28
Retirees and beneficiaries	3,570	2,156	279	772	312	51

October 31, 2022	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	1,659	1,579	29	—	51	—
Vested former employees and deferred members	3,348	2,764	75	366	115	28
Retirees and beneficiaries	3,426	2,102	281	662	330	51

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


As of October 31,	2023		2022
Discount rate	6.05	%	5.61	%
Rate of compensation increase	2.96	%	2.99	%

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,	2023		2022		2021
Discount rate	5.61	%	2.55	%	2.48	%
Expected Return on plan assets	4.99	%	3.86	%	3.87	%
Rate of compensation increase	2.99	%	2.96	%	2.91	%

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

Based on the Company’s analysis of future expectations of asset performance, past return results and its current and expected asset allocations, the Company has assumed a 4.99% long-term expected return on those assets for cost recognition in 2023. 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, 2023, plan assets of $7.7 million were used to purchase $5.9 million in annuity contracts and pay $1.8 million in lump sums to retirees to settle the pension obligation and close the Canada pension plans. The settlement items described above resulted in non-cash pension settlement charges of $3.5 million of unrecognized net actuarial loss included in accumulated other comprehensive loss for the year ended October 31, 2023.

During the year ended October 31, 2022, $2.4 million of projected benefit obligation for plan participants in Turkey was irrevocably transferred to a third-party buyer through the sale of business (part of the FPS Divestiture) resulting in a $1.0 million loss in accumulated other comprehensive income that was recognized as a loss on sale of business.

Benefit Obligations

The components of net periodic pension cost include the following:


For the year ended October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	8.0	$	6.5	$	0.1	$	0.5	$	0.7	$	0.2
Interest cost	35.0		26.8		1.1		4.8		2.0		0.3
Expected return on plan assets	(39.0)		(30.6)		—		(5.8)		(2.1)		(0.5)
Amortization of prior service benefit	(0.4)		(0.3)		—		—		(0.1)		—
Recognized net actuarial (gain) loss	(2.1)		(2.2)		—		—		—		0.1

Special Events
Settlement	3.5		—		—		—		—		3.5
Net periodic pension cost (benefit)	$	5.0	$	0.2	$	1.2	$	(0.5)	$	0.5	$	3.6
For the year ended October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	11.5	$	10.0	$	0.2	$	0.5	$	0.5	$	0.3
Interest cost	19.9		16.1		0.3		2.6		0.5		0.4
Expected return on plan assets	(32.5)		(27.0)		—		(3.9)		(0.8)		(0.8)
Amortization of prior service benefit	(0.4)		(0.3)		—		—		(0.1)		—
Recognized net actuarial loss	7.7		6.0		0.9		0.6		—		0.2

Special Events
Divestiture Charge	1.0		—		—		—		—		1.0
Net periodic pension cost (benefit)	$	7.2	$	4.8	$	1.4	$	(0.2)	$	0.1	$	1.1
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 cost (benefit)	$	20.5	$	19.1	$	1.9	$	(0.2)	$	—	$	(0.3)

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

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


For the year ended October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	651.7	$	470.3	$	25.9	$	95.8	$	51.4	$	8.3
Service cost	8.0		6.5		0.1		0.5		0.7		0.2
Interest cost	35.0		26.8		1.1		4.8		2.0		0.3
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(3.4)		(1.7)		—		(1.0)		(0.5)		(0.2)

Actuarial gain	(24.3)		(12.8)		(0.9)		(8.5)		(1.8)		(0.3)
Foreign currency effect	9.7		—		1.6		4.8		3.2		0.1
Benefits paid	(65.1)		(51.6)		(1.4)		(6.9)		(4.6)		(0.6)



Settlements	(7.7)		—		—		—		—		(7.7)

Benefit obligation at end of year	$	604.1	$	437.5	$	26.4	$	89.5	$	50.6	$	0.1
For the year ended October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	989.2	$	679.6	$	39.3	$	174.1	$	82.5	$	13.7
Service cost	11.5		10.0		0.2		0.5		0.5		0.3
Interest cost	19.9		16.1		0.3		2.6		0.5		0.4
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(2.8)		(1.9)		—		(0.8)		—		(0.1)

Actuarial gain	(265.9)		(188.9)		(7.6)		(51.2)		(17.6)		(0.6)
Foreign currency effect	(40.3)		—		(5.0)		(23.0)		(10.2)		(2.1)
Benefits paid	(57.7)		(44.6)		(1.3)		(6.4)		(4.5)		(0.9)



Divestiture	(2.4)		—		—		—		—		(2.4)

Benefit obligation at end of year	$	651.7	$	470.3	$	25.9	$	95.8	$	51.4	$	8.3

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, 2023
Projected benefit obligation	$	604.1	$	437.5	$	26.4	$	89.5	$	50.6	$	0.1
Accumulated benefit obligation	589.8		424.5		25.9		89.5		49.8		0.1
Plan assets	584.0		431.6		—		99.8		49.4		3.2
October 31, 2022
Projected benefit obligation	$	651.7	$	470.3	$	25.9	$	95.8	$	51.4	$	8.3
Accumulated benefit obligation	636.2		456.1		25.3		95.8		50.7		8.3
Plan assets	624.6		451.1		—		111.6		50.3		11.6
Plans with ABO in excess of Plan assets
October 31, 2023
Accumulated benefit obligation	$	104.4	$	28.7	$	25.9	$	—	$	49.8	$	—
Plan assets	49.4		—		—		—		49.4		—
October 31, 2022
Accumulated benefit obligation	$	106.6	$	30.6	$	25.3	$	—	$	50.7	$	—
Plan assets	50.3		—		—		—		50.3		—

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)
2024	$	53.6
2025	50.5
2026	50.6
2027	51.9
2028	51.3
2029-2033	253.9

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 annuities and mutual funds.

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	2024 Target		2023 Target		2023 Actual
Equity securities	20	%	20	%	20	%
Debt securities	62	%	66	%	61	%
Other	18	%	14	%	19	%
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, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	624.6	$	451.1	$	—	$	111.6	$	50.3	$	11.6
Actual return on plan assets	(0.8)		10.3		—		(11.3)		—		0.2
Expenses paid	(3.4)		(1.7)		—		(1.0)		(0.5)		(0.2)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	8.7		—		—		5.7		3.1		(0.1)
Employer contributions	23.7		21.0		—		1.7		0.9		0.1
Benefits paid out of plan	(61.3)		(49.1)		—		(6.9)		(4.6)		(0.7)
Settlements	(7.7)		—		—		—		—		(7.7)
Fair value of plan assets at end of year	$	584.0	$	431.6	$	—	$	99.8	$	49.4	$	3.2
For the year ended October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	950.8	$	646.4	$	—	$	205.4	$	84.5	$	14.5
Actual return on plan assets	(258.4)		(179.0)		—		(62.1)		(16.6)		(0.7)
Expenses paid	(2.8)		(1.9)		—		(0.8)		—		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	(38.8)		—		—		(27.0)		(10.3)		(1.5)
Employer contributions	27.6		28.0		—		2.5		(3.0)		0.1
Benefits paid out of plan	(54.0)		(42.4)		—		(6.4)		(4.5)		(0.7)

Fair value of plan assets at end of year	$	624.6	$	451.1	$	—	$	111.6	$	50.3	$	11.6

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


	Fair Value Measurement
As of October 31, 2023 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
Mutual funds	$	35.5	$	24.3	$	—	$	59.8

Cash	11.9		—		—		11.9

Corporate bonds	—		159.1		—		159.1
Government bonds	—		57.5		—		57.5
Other assets	—		4.0		—		4.0
Total Assets in the Fair Value Hierarchy	47.4		244.9		—		292.3
Investments Measured at Net Asset Value

Insurance contracts							87.9
Common stock funds							83.4
Corporate bond funds							120.4

Investments at Fair Value	$	47.4	$	244.9	$	—	$	584.0

	Fair Value Measurement
As of October 31, 2022 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
Mutual funds	$	62.9	$	58.0	$	—	$	120.9

Cash	16.0		—		—		16.0

Corporate bonds	—		160.5		—		160.5
Government bonds	—		51.6		—		51.6
Other assets	—		2.0		—		2.0
Total Assets in the Fair Value Hierarchy	78.9		272.1		—		351.0
Investments Measured at Net Asset Value

Insurance contracts							72.9
Common stock funds							77.3
Corporate bond funds							123.4

Investments at Fair Value	$	78.9	$	272.1	$	—	$	624.6

Financial statement presentation including other comprehensive income:


As of October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss (gain)	$	110.3	$	50.7	$	1.6	$	53.9	$	4.3	$	(0.2)
Unrecognized prior service benefit	(1.1)		(0.2)		—		—		(0.9)		—

Accumulated other comprehensive loss (income) - Pre-tax	$	109.2	$	50.5	$	1.6	$	53.9	$	3.4	$	(0.2)
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	36.2	$	22.8	$	—	$	10.2	$	—	$	3.2
Accrued benefit liability	(56.3)		(28.7)		(26.4)		—		(1.2)		—
Accumulated other comprehensive loss (income) - Pre-tax	109.2		50.5		1.6		53.9		3.4		(0.2)
Net amount recognized	$	89.1	$	44.6	$	(24.8)	$	64.1	$	2.2	$	3.0
As of October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	93.4	$	41.0	$	2.3	$	43.2	$	3.9	$	3.0
Unrecognized prior service benefit	(1.4)		(0.4)		—		—		(1.0)		—

Accumulated other comprehensive loss - Pre-tax	$	92.0	$	40.6	$	2.3	$	43.2	$	2.9	$	3.0
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	30.8	$	11.7	$	—	$	15.8	$	—	$	3.3
Accrued benefit liability	(58.0)		(30.8)		(25.9)		—		(1.3)		—
Accumulated other comprehensive loss - Pre-tax	92.0		40.6		2.3		43.2		2.9		3.0
Net amount recognized	$	64.8	$	21.5	$	(23.6)	$	59.0	$	1.6	$	6.3


(in millions)	October 31, 2023		October 31, 2022
Accumulated other comprehensive loss at beginning of year	$	92.0	$	85.2
Increase or (decrease) in accumulated other comprehensive loss

Net prior service benefit amortized	0.4		0.4
Net gain (loss) amortized	2.1		(7.7)


Loss recognized due to settlement	(3.5)		—
Loss recognized due to divestiture	—		(1.0)

Liability gain	(24.3)		(265.9)
Asset loss	39.9		290.8
Other adjustments	—		(0.5)
Increase in accumulated other comprehensive loss	14.6		16.1
Foreign currency impact	2.6		(9.3)
Accumulated other comprehensive loss at year end	$	109.2	$	92.0

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 $29.1 million, $24.4 million and $21.9 million in 2023, 2022 and 2021, respectively.

ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Oct. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Preliminary Valuation of Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred to acquire ColePak and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:


(in millions)	Amounts Recognized as of the Acquisition Date
Fair value of consideration transferred
Cash consideration	$	74.6
Noncontrolling interest	72.1

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	6.7
Inventories	3.3

Intangibles	59.0
Operating lease assets	8.6

Properties, plants and equipment	19.4
Total assets acquired	97.0

Accounts payable and other current liabilities	(1.8)


Operating lease liabilities	(8.6)


Total liabilities assumed	(10.4)
Total identifiable net assets	$	86.6
Goodwill	$	60.1

The following table summarizes the consideration transferred to acquire Centurion and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:


(in millions)	Amounts Recognized as of the Acquisition Date		Measurement Period Adjustments		Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration	$	144.5	$	—	$	144.5
Noncontrolling interest	40.9		—		40.9
Previously held interest	16.8		—		16.8

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	12.4	$	—	$	12.4
Inventories	2.0		—		2.0
Prepaid and other current assets	0.4		—		0.4
Intangibles	83.4		9.4		92.8
Operating lease assets	10.2		—		10.2

Properties, plants and equipment	7.7		—		7.7
Total assets acquired	116.1		9.4		125.5

Accounts payable	(4.2)		—		(4.2)

Other current liabilities	(4.3)		—		(4.3)
Operating lease liabilities	(10.2)		—		(10.2)


Total liabilities assumed	(18.7)		—		(18.7)
Total identifiable net assets	$	97.4	$	9.4	$	106.8
Goodwill	$	104.8	$	(9.4)	$	95.4

The following table summarizes the consideration transferred to acquire Lee Container and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:


(in millions)	Amounts Recognized as of the Acquisition Date		Measurement Period Adjustments		Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration	$	302.8	$	0.2	$	303.0

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	21.9	$	(0.4)	$	21.5
Inventories	27.5		(5.2)		22.3
Prepaid and other current assets	0.5		—		0.5
Intangibles	133.5		—		133.5
Finance lease assets	32.4		1.0		33.4

Properties, plants and equipment	54.7		—		54.7
Total assets acquired	270.5		(4.6)		265.9

Accounts payable	(3.9)		—		(3.9)
Accrued payroll and employee benefits	(1.3)		—		(1.3)
Other current liabilities	(3.1)		2.9		(0.2)
Finance lease liabilities	(30.6)		(2.8)		(33.4)


Total liabilities assumed	(38.9)		0.1		(38.8)
Total identifiable net assets	$	231.6	(4.5)		227.1
Goodwill	$	71.2	$	4.7	$	75.9

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

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


(in millions)	Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	50.6	15.0
Trademarks	8.4		5.0
Total intangible assets	$	59.0

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


(in millions)	Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	77.5	12.0
Favorable leases	1.6		19.0
Trademarks	13.7		5.0
Total intangible assets	$	92.8

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


(in millions)	Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	120.0	15.0
Trademarks	13.5		5.0
Total intangible assets	$	133.5

Business Acquisition, Pro Forma Information, Nonrecurring Adjustments

The following unaudited supplemental pro forma data presents consolidated information as if the ColePak Acquisition, Centurion Acquisition and Lee Container Acquisition had been completed on November 1, 2021. These amounts were calculated after adjusting ColePak’s, Centurion’s and Lee Container’s results to reflect interest expense incurred on the debt to finance the acquisitions, additional depreciation and amortization that would have been charged assuming the fair value of property, plant and equipment and intangible assets had been applied from November 1, 2021, the adjusted tax expense, and related transaction costs.


	Twelve Months Ended October 31,
(in millions, except per share amounts)		2023		2022
Pro forma net sales		$	5,276.5	$	6,607.6
Pro forma net income attributable to Greif, Inc.		361.0		380.5
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock		$	6.25	$	6.42
Class B common stock		$	9.36	$	9.62
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock		$	6.18	$	6.36
Class B common stock		$	9.36	$	9.62

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Oct. 31, 2023

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:

Grant Date

December 14, 2022

December 16, 2021

December 17, 2020

Service Period

11/1/2022 - 10/31/2025

11/1/2021 - 10/31/2024

11/1/2020 - 10/31/2023

RSUs Granted

105,753

99,006

139,360

Weighted Average Fair Value of RSUs

$68.99

$60.54

$48.50

Schedule of Valuation Assumptions

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


Grant Date	December 14, 2022	December 16, 2021	December 17, 2020
Performance Period	11/1/2022 - 10/31/2025	11/1/2021 - 10/31/2024	11/1/2020 - 10/31/2023
PSUs Granted	183,218	162,392	253,102
Weighted Average Fair Value of PSUs at Grant Date	$70.06	$60.08	$47.26
Weighted Average Fair Value of PSUs at Valuation Date	$29.28	$78.06	$115.73
Valuation Date Stock Price	$63.50	$63.50	$63.50
Risk-Free Rate	4.9%	5.3%	—%
Estimated Volatility	28.1%	26.8%	—%

INCOME TAXES - Significant Components of Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Deferred tax assets
Net operating loss and other carryforwards	$ 104.9	$ 101.8
Incentive liabilities	18.6	28.6
Operating lease liabilities	70.3	65.5
Other reserves	16.0	13.0
Research and development expenses	29.7	0.0
Other	45.4	52.8
Total deferred tax assets	284.9	261.7
Valuation allowance	(97.3)	(105.4)
Net deferred tax assets	187.6	156.3
Deferred tax liabilities
Properties, plants and equipment	157.2	138.4
Operating lease assets	70.3	65.5
Timberland transactions	51.6	51.8
Goodwill and other intangible assets	150.6	174.0
Pension liabilities	10.6	8.4
Other	50.0	51.7
Total deferred tax liabilities	490.3	489.8
Net deferred tax liability	$ 302.7	$ 333.5

POST-RETIREMENT BENEFIT PLANS (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	1,509	1,416	27	—	66	—
Vested former employees and deferred members	3,181	2,690	73	290	100	28
Retirees and beneficiaries	3,570	2,156	279	772	312	51

October 31, 2022	Consolidated	United States	Germany	United Kingdom	Netherlands	Other International
Active participants	1,659	1,579	29	—	51	—
Vested former employees and deferred members	3,348	2,764	75	366	115	28
Retirees and beneficiaries	3,426	2,102	281	662	330	51

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,	2023		2022
Discount rate	6.05	%	5.61	%
Rate of compensation increase	2.96	%	2.99	%

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,	2023		2022		2021
Discount rate	5.61	%	2.55	%	2.48	%
Expected Return on plan assets	4.99	%	3.86	%	3.87	%
Rate of compensation increase	2.99	%	2.96	%	2.91	%

Schedule of Components Of Net Periodic Pension Cost

The components of net periodic pension cost include the following:


For the year ended October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	8.0	$	6.5	$	0.1	$	0.5	$	0.7	$	0.2
Interest cost	35.0		26.8		1.1		4.8		2.0		0.3
Expected return on plan assets	(39.0)		(30.6)		—		(5.8)		(2.1)		(0.5)
Amortization of prior service benefit	(0.4)		(0.3)		—		—		(0.1)		—
Recognized net actuarial (gain) loss	(2.1)		(2.2)		—		—		—		0.1

Special Events
Settlement	3.5		—		—		—		—		3.5
Net periodic pension cost (benefit)	$	5.0	$	0.2	$	1.2	$	(0.5)	$	0.5	$	3.6
For the year ended October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Service cost	$	11.5	$	10.0	$	0.2	$	0.5	$	0.5	$	0.3
Interest cost	19.9		16.1		0.3		2.6		0.5		0.4
Expected return on plan assets	(32.5)		(27.0)		—		(3.9)		(0.8)		(0.8)
Amortization of prior service benefit	(0.4)		(0.3)		—		—		(0.1)		—
Recognized net actuarial loss	7.7		6.0		0.9		0.6		—		0.2

Special Events
Divestiture Charge	1.0		—		—		—		—		1.0
Net periodic pension cost (benefit)	$	7.2	$	4.8	$	1.4	$	(0.2)	$	0.1	$	1.1
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 cost (benefit)	$	20.5	$	19.1	$	1.9	$	(0.2)	$	—	$	(0.3)

Schedule of Change in Projected Benefit Obligation

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


For the year ended October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	651.7	$	470.3	$	25.9	$	95.8	$	51.4	$	8.3
Service cost	8.0		6.5		0.1		0.5		0.7		0.2
Interest cost	35.0		26.8		1.1		4.8		2.0		0.3
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(3.4)		(1.7)		—		(1.0)		(0.5)		(0.2)

Actuarial gain	(24.3)		(12.8)		(0.9)		(8.5)		(1.8)		(0.3)
Foreign currency effect	9.7		—		1.6		4.8		3.2		0.1
Benefits paid	(65.1)		(51.6)		(1.4)		(6.9)		(4.6)		(0.6)



Settlements	(7.7)		—		—		—		—		(7.7)

Benefit obligation at end of year	$	604.1	$	437.5	$	26.4	$	89.5	$	50.6	$	0.1
For the year ended October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in benefit obligation:
Benefit obligation at beginning of year	$	989.2	$	679.6	$	39.3	$	174.1	$	82.5	$	13.7
Service cost	11.5		10.0		0.2		0.5		0.5		0.3
Interest cost	19.9		16.1		0.3		2.6		0.5		0.4
Plan participant contributions	0.2		—		—		—		0.2		—
Expenses paid from assets	(2.8)		(1.9)		—		(0.8)		—		(0.1)

Actuarial gain	(265.9)		(188.9)		(7.6)		(51.2)		(17.6)		(0.6)
Foreign currency effect	(40.3)		—		(5.0)		(23.0)		(10.2)		(2.1)
Benefits paid	(57.7)		(44.6)		(1.3)		(6.4)		(4.5)		(0.9)



Divestiture	(2.4)		—		—		—		—		(2.4)

Benefit obligation at end of year	$	651.7	$	470.3	$	25.9	$	95.8	$	51.4	$	8.3

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, 2023
Projected benefit obligation	$	604.1	$	437.5	$	26.4	$	89.5	$	50.6	$	0.1
Accumulated benefit obligation	589.8		424.5		25.9		89.5		49.8		0.1
Plan assets	584.0		431.6		—		99.8		49.4		3.2
October 31, 2022
Projected benefit obligation	$	651.7	$	470.3	$	25.9	$	95.8	$	51.4	$	8.3
Accumulated benefit obligation	636.2		456.1		25.3		95.8		50.7		8.3
Plan assets	624.6		451.1		—		111.6		50.3		11.6
Plans with ABO in excess of Plan assets
October 31, 2023
Accumulated benefit obligation	$	104.4	$	28.7	$	25.9	$	—	$	49.8	$	—
Plan assets	49.4		—		—		—		49.4		—
October 31, 2022
Accumulated benefit obligation	$	106.6	$	30.6	$	25.3	$	—	$	50.7	$	—
Plan assets	50.3		—		—		—		50.3		—

Schedule of Future Benefit Payments Next Five Years and Thereafter


(in millions)	Expected Benefit Payments
Year(s)
2024	$	53.6
2025	50.5
2026	50.6
2027	51.9
2028	51.3
2029-2033	253.9

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	2024 Target		2023 Target		2023 Actual
Equity securities	20	%	20	%	20	%
Debt securities	62	%	66	%	61	%
Other	18	%	14	%	19	%
Total	100	%	100	%	100	%

Schedule of Fair Value of the Pension Plans Investments


For the year ended October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	624.6	$	451.1	$	—	$	111.6	$	50.3	$	11.6
Actual return on plan assets	(0.8)		10.3		—		(11.3)		—		0.2
Expenses paid	(3.4)		(1.7)		—		(1.0)		(0.5)		(0.2)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	8.7		—		—		5.7		3.1		(0.1)
Employer contributions	23.7		21.0		—		1.7		0.9		0.1
Benefits paid out of plan	(61.3)		(49.1)		—		(6.9)		(4.6)		(0.7)
Settlements	(7.7)		—		—		—		—		(7.7)
Fair value of plan assets at end of year	$	584.0	$	431.6	$	—	$	99.8	$	49.4	$	3.2
For the year ended October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Change in plan assets:
Fair value of plan assets at beginning of year	$	950.8	$	646.4	$	—	$	205.4	$	84.5	$	14.5
Actual return on plan assets	(258.4)		(179.0)		—		(62.1)		(16.6)		(0.7)
Expenses paid	(2.8)		(1.9)		—		(0.8)		—		(0.1)
Plan participant contributions	0.2		—		—		—		0.2		—
Foreign currency impact	(38.8)		—		—		(27.0)		(10.3)		(1.5)
Employer contributions	27.6		28.0		—		2.5		(3.0)		0.1
Benefits paid out of plan	(54.0)		(42.4)		—		(6.4)		(4.5)		(0.7)

Fair value of plan assets at end of year	$	624.6	$	451.1	$	—	$	111.6	$	50.3	$	11.6

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, 2023 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
Mutual funds	$	35.5	$	24.3	$	—	$	59.8

Cash	11.9		—		—		11.9

Corporate bonds	—		159.1		—		159.1
Government bonds	—		57.5		—		57.5
Other assets	—		4.0		—		4.0
Total Assets in the Fair Value Hierarchy	47.4		244.9		—		292.3
Investments Measured at Net Asset Value

Insurance contracts							87.9
Common stock funds							83.4
Corporate bond funds							120.4

Investments at Fair Value	$	47.4	$	244.9	$	—	$	584.0

	Fair Value Measurement
As of October 31, 2022 (in millions)	Level 1		Level 2		Level 3		Total
Asset Category
Mutual funds	$	62.9	$	58.0	$	—	$	120.9

Cash	16.0		—		—		16.0

Corporate bonds	—		160.5		—		160.5
Government bonds	—		51.6		—		51.6
Other assets	—		2.0		—		2.0
Total Assets in the Fair Value Hierarchy	78.9		272.1		—		351.0
Investments Measured at Net Asset Value

Insurance contracts							72.9
Common stock funds							77.3
Corporate bond funds							123.4

Investments at Fair Value	$	78.9	$	272.1	$	—	$	624.6

Schedule of Amounts Recognized in Consolidated Financial Statements

Financial statement presentation including other comprehensive income:


As of October 31, 2023	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss (gain)	$	110.3	$	50.7	$	1.6	$	53.9	$	4.3	$	(0.2)
Unrecognized prior service benefit	(1.1)		(0.2)		—		—		(0.9)		—

Accumulated other comprehensive loss (income) - Pre-tax	$	109.2	$	50.5	$	1.6	$	53.9	$	3.4	$	(0.2)
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	36.2	$	22.8	$	—	$	10.2	$	—	$	3.2
Accrued benefit liability	(56.3)		(28.7)		(26.4)		—		(1.2)		—
Accumulated other comprehensive loss (income) - Pre-tax	109.2		50.5		1.6		53.9		3.4		(0.2)
Net amount recognized	$	89.1	$	44.6	$	(24.8)	$	64.1	$	2.2	$	3.0
As of October 31, 2022	Consolidated		United States		Germany		United Kingdom		Netherlands		Other International
(in millions)
Unrecognized net actuarial loss	$	93.4	$	41.0	$	2.3	$	43.2	$	3.9	$	3.0
Unrecognized prior service benefit	(1.4)		(0.4)		—		—		(1.0)		—

Accumulated other comprehensive loss - Pre-tax	$	92.0	$	40.6	$	2.3	$	43.2	$	2.9	$	3.0
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	$	30.8	$	11.7	$	—	$	15.8	$	—	$	3.3
Accrued benefit liability	(58.0)		(30.8)		(25.9)		—		(1.3)		—
Accumulated other comprehensive loss - Pre-tax	92.0		40.6		2.3		43.2		2.9		3.0
Net amount recognized	$	64.8	$	21.5	$	(23.6)	$	59.0	$	1.6	$	6.3


(in millions)	October 31, 2023		October 31, 2022
Accumulated other comprehensive loss at beginning of year	$	92.0	$	85.2
Increase or (decrease) in accumulated other comprehensive loss

Net prior service benefit amortized	0.4		0.4
Net gain (loss) amortized	2.1		(7.7)


Loss recognized due to settlement	(3.5)		—
Loss recognized due to divestiture	—		(1.0)

Liability gain	(24.3)		(265.9)
Asset loss	39.9		290.8
Other adjustments	—		(0.5)
Increase in accumulated other comprehensive loss	14.6		16.1
Foreign currency impact	2.6		(9.3)
Accumulated other comprehensive loss at year end	$	109.2	$	92.0

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	$ 494,700,000	$ 525,700,000	$ 478,600,000
Book impairment loss		58,600,000
Net operating loss and other carryforwards	104,900,000	101,800,000
Operating loss carryforwards, U.S. Federal	7,500,000	4,400,000
Operating loss carryforwards, State	10,100,000	12,200,000
Operating loss carryforwards, Non-U.S.	87,300,000	85,200,000
Net change in valuation allowance	97,300,000	105,400,000
Increase (decrease) in valuation allowances	8,100,000
Unrecognized tax benefits	23,400,000	24,300,000	31,000,000
Accrued interest and penalties related to unrecognized tax benefits	4,800,000	4,800,000
Maximum
Operating Loss Carryforwards [Line Items]
Net decrease in unrecognized tax benefits for the next 12 months	6,700,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	240,700,000	333,500,000	239,300,000
Net change in valuation allowance	14,500,000	13,000,000
Non-U.S.
Operating Loss Carryforwards [Line Items]
Income (loss) before income tax expense	254,000,000	192,200,000	$ 239,200,000
Net change in valuation allowance	$ 82,800,000	$ 92,400,000

LEASES - (Tables)

12 Months Ended

Oct. 31, 2023

Leases [Abstract]

Schedule of Components of Lease Expense

The following table presents the lease expense components:


	Year Ended
(in millions)	October 31, 2023		October 31, 2022
Operating lease cost	$	64.4	$	64.6
Finance lease cost - amortization	4.8		1.3
Finance lease cost - interest	2.4		0.1
Other lease cost*	28.0		23.2
Total lease cost	$	99.6	$	89.2
*includes variable and short-term lease costs

The following table presents the weighted-average lease term and discount rate as of October 31, 2023 and October 31, 2022:


	October 31, 2023		October 31, 2022
Weighted-average remaining lease term (years):
Operating leases	9.1		9.9
Finance leases	7.9		2.6
Weighted-average discount rate:
Operating leases	4.50	%	3.77	%
Finance leases	6.18	%	3.34	%

The following table presents other required lease related information:


(in millions)	October 31, 2023		October 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating liabilities	$	64.3	$	63.2
Financing cash flows used for finance leases	4.5		1.2
Leased assets obtained in exchange for new lease liabilities:
Leased assets obtained in exchange for new operating lease liabilities	95.0		22.3
Leased assets obtained in exchange for new finance lease liabilities	42.0		0.4

Schedule of Maturities of Operating Lease Liabilities

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


(in millions)	Operating Leases		Finance Leases		Total expected payments
2024	$	64.8	$	6.7	$	71.5
2025	58.2		6.4		64.6
2026	49.2		6.3		55.5
2027	40.1		6.1		46.2
2028	32.0		6.1		38.1
Thereafter	106.4		18.4		124.8
Total lease payments	$	350.7	$	50.0	$	400.7
Less: interest	(56.7)		(18.7)		(75.4)
Lease liabilities	$	294.0	$	31.3	$	325.3

LONG-TERM DEBT - United States Trade Accounts Receivable Credit Facility (Details) € in Millions	Oct. 31, 2023 USD ($)	Oct. 31, 2023 EUR (€)	Oct. 31, 2022 USD ($)	May 17, 2022 USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 2,218,400,000		$ 1,918,700,000
European RPA
Debt Instrument [Line Items]
Financing receivable maximum amount under receivable purchase agreement	105,700,000	€ 100.0
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	351,000,000.0		$ 311,400,000
United States Trade Accounts Receivable Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 300,000,000
United States Trade Accounts Receivable Credit Facility \| Domestic Line of Credit
Debt Instrument [Line Items]
Long-term line of credit	270,900,000
International Trade Accounts Receivable Credit Facilities \| Foreign Line of Credit \| European RPA
Debt Instrument [Line Items]
Long-term debt	$ 80,100,000

BUSINESS SEGMENT INFORMATION

12 Months Ended

Oct. 31, 2023

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

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, jerrycans and other small plastics, 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.

On October 1, 2023, the Company completed the Reliance Acquisition. Reliance is a leading producer of high-performance barrier and conventional blow molded jerrycans and small plastics containers in Canada. The results of Reliance are recorded within the Global Industrial Packaging segment.

On March 31, 2023, the Company completed the Centurion Acquisition. Centurion is a leader in the North American IBC reconditioning industry involved in IBC rebottling, reconditioning and distribution, which complement the Company’s Global Industrial Packaging specialty portfolio. The results of Centurion are recorded within the Global Industrial Packaging segment.

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

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. Further, the Company produces and sells bulk and specialty partitions made from both containerboard and uncoated recycled paperboard. In addition, the reportable segment is involved in the purchase and sale of recycled fiber.

On August 23, 2023, the Company completed the ColePak Acquisition. ColePak is a manufacturer of bulk and specialty partitions made from both containerboard and uncoated recycled board and is the second largest supplier of paper partitions in North America. The results of ColePak are recorded within the Paper Packaging & Services segment.

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, 2023:


	Year Ended October 31, 2023
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	1,093.0	$	1,310.9	$	532.9	$	2,936.8
Paper Packaging & Services	2,218.0		—		42.5		2,260.5
Land Management	21.3		—		—		21.3
Total net sales	$	3,332.3	$	1,310.9	$	575.4	$	5,218.6

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


	Year Ended October 31, 2022
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	1,287.1	$	1,700.7	$	664.6	$	3,652.4
Paper Packaging & Services	2,630.8		—		44.3		2,675.1
Land Management	22.0		—		—		22.0
Total net sales	$	3,939.9	$	1,700.7	$	708.9	$	6,349.5

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


(in millions)	2023		2022		2021
Operating profit:
Global Industrial Packaging	$	334.3	$	313.7	$	350.2
Paper Packaging & Services	264.1		298.5		131.0
Land Management	7.1		9.0		104.0
Total operating profit	$	605.5	$	621.2	$	585.2

Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	95.3	$	73.9	$	83.1
Paper Packaging & Services	133.1		139.9		148.0
Land Management	2.2		2.8		3.3
Total depreciation, depletion and amortization expense	$	230.6	$	216.6	$	234.4

Capital expenditures:
Global Industrial Packaging	$	83.9	$	55.1	$	71.1
Paper Packaging & Services	120.6		90.6		79.9
Land Management	1.1		—		0.2
Total segment	205.6		145.7		151.2
Corporate and other	12.6		16.2		11.0
Total capital expenditures	$	218.2	$	161.9	$	162.2

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


(in millions)	October 31, 2023		October 31, 2022
Assets:
Global Industrial Packaging	$	2,737.5	$	2,308.4
Paper Packaging & Services	2,541.1		2,473.9
Land Management	253.2		250.0
Total segment	5,531.8		5,032.3
Corporate and other	429.0		437.6
Total assets	$	5,960.8	$	5,469.9

Long lived assets, net*:
United States	$	1,468.6	$	1,314.7
Europe, Middle East and Africa	311.9		303.7
Asia Pacific and other Americas	102.9		91.3
Total properties, plants and equipment, net	$	1,883.4	$	1,709.7
*includes property, plants and equipment, net, operating lease assets and finance 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) $ in Millions	12 Months Ended
	Oct. 31, 2022 USD ($)
Statement of Comprehensive Income [Abstract]
Business divestment release	$ 113.1

BUSINESS SEGMENT INFORMATION - Geographic Area (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Segment Reporting Information [Line Items]
Total net sales	$ 5,218.6	$ 6,349.5	$ 5,556.1
Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	2,936.8	3,652.4
Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	2,260.5	2,675.1
Land Management
Segment Reporting Information [Line Items]
Total net sales	21.3	22.0
United States
Segment Reporting Information [Line Items]
Total net sales	3,332.3	3,939.9
United States \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	1,093.0	1,287.1
United States \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	2,218.0	2,630.8
United States \| Land Management
Segment Reporting Information [Line Items]
Total net sales	21.3	22.0
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Total net sales	1,310.9	1,700.7
Europe, Middle East and Africa \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	1,310.9	1,700.7
Europe, Middle East and Africa \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	0.0	0.0
Europe, Middle East and Africa \| Land Management
Segment Reporting Information [Line Items]
Total net sales	0.0	0.0
Asia Pacific and Other Americas
Segment Reporting Information [Line Items]
Total net sales	575.4	708.9
Asia Pacific and Other Americas \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	532.9	664.6
Asia Pacific and Other Americas \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	42.5	44.3
Asia Pacific and Other Americas \| Land Management
Segment Reporting Information [Line Items]
Total 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Current
Federal	$ 77.4	$ 54.6	$ 45.0
State and local	19.6	19.9	15.5
Non-U.S.	49.1	49.2	56.3
Total Current	146.1	123.7	116.8
Deferred
Federal	(18.8)	12.5	(33.0)
State and local	(8.6)	(6.6)	(9.9)
Non-U.S.	(0.9)	7.5	(4.3)
Total Deferred	(28.3)	13.4	(47.2)
Tax expense	$ 117.8	$ 137.1	$ 69.6

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


	October 31, 2023
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	78.4	$	—	$	78.4	$	—	$	—	$	—	$	—
Foreign exchange hedges	—		0.1		—		0.1		—		(0.1)		—		(0.1)
Insurance annuity	—		—		18.8		18.8		—		—		—		—
Cross currency swap	—		18.9		—		18.9		—		—		—		—

	October 31, 2022
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	72.1	$	—	$	72.1	$	—	$	(1.0)	$	—	$	(1.0)
Foreign exchange hedges	—		—		—		—		—		(0.2)		—		(0.2)
Insurance annuity	—		—		17.8		17.8		—		—		—		—
Cross currency swap	—		46.8		—		46.8		—		—		—		—

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

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, net assets held for sale, goodwill and indefinite-lived intangibles for the twelve months ended October 31, 2023 and 2022:

Quantitative Information about Non-Recurring Fair Value Measurements

(in millions)

Fair Value of
Impairment

Valuation
Technique

Unobservable
Input

Range
of Input Values

October 31, 2023

Impairment of Long-Lived Assets

20.3

Discounted Cash Flows, Indicative Bids

N/A

Total

20.3

October 31, 2022

Impairment of Long-Lived Assets

4.0

Discounted Cash Flows, Indicative Bids

N/A

Impairment of Net Assets Held for Sale

62.4

Indicative Bids

N/A

Impairment of Indefinite-Lived Intangibles

4.6

Discounted Cash Flows

N/A

Total

71.0

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Oct. 31, 2023	Dec. 12, 2023	Apr. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 31, 2023
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 February 26, 2024 (the “2024 Proxy Statement”), portions of which are incorporated by reference into Parts II and III of this Form 10-K. The 2024 Proxy Statement will be filed within 120 days of October 31, 2023.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000043920
Document Financial Statement Error Correction [Flag]	false
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			$ 1,545,247,537
Entity Common Stock, Shares Outstanding		25,474,254
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			$ 380,984,205
Entity Common Stock, Shares Outstanding		21,331,127

POST-RETIREMENT BENEFIT PLANS - Actuarial Assumptions Used to Measure Benefit Obligations (Details)	Oct. 31, 2023	Oct. 31, 2022
Retirement Benefits [Abstract]
Discount rate	6.05%	5.61%
Rate of compensation increase	2.96%	2.99%

BUSINESS SEGMENT INFORMATION - Properties, Plants and Equipment, Net by Geographical Area (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Assets:
Total assets	$ 5,960.8	$ 5,469.9
Long lived assets, net:
Total properties, plants and equipment, net	1,883.4	1,709.7
Operating Segments
Assets:
Total assets	5,531.8	5,032.3
Operating Segments \| Global Industrial Packaging
Assets:
Total assets	2,737.5	2,308.4
Operating Segments \| Paper Packaging & Services
Assets:
Total assets	2,541.1	2,473.9
Operating Segments \| Land Management
Assets:
Total assets	253.2	250.0
Corporate and Other
Assets:
Total assets	429.0	437.6
United States
Long lived assets, net:
Total properties, plants and equipment, net	1,468.6	1,314.7
Europe, Middle East and Africa
Long lived assets, net:
Total properties, plants and equipment, net	311.9	303.7
Asia Pacific and other Americas
Long lived assets, net:
Total properties, plants and equipment, net	$ 102.9	$ 91.3

EARNINGS PER SHARE (Tables)

12 Months Ended

Oct. 31, 2023

Earnings Per Share [Abstract]

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

The Company calculates EPS as follows:

Basic Class A EPS

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends Per Share

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

Average Class A Shares Outstanding

Diluted Class A EPS

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends Per Share

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

Average Diluted Class A Shares Outstanding

Basic Class B EPS

60% * Average Class B Shares Outstanding

Undistributed Net Income

Class B Dividends Per Share

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)	2023		2022		2021
Numerator
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$	359.2	$	376.7	$	390.7
Cash dividends	(116.5)		(111.3)		(105.8)
Undistributed net income attributable to Greif, Inc.	$	242.7	$	265.4	$	284.9
Denominator
Denominator for basic EPS –
Class A common stock	25.6		26.3		26.5
Class B common stock	21.5		22.0		22.0
Denominator for diluted EPS –
Class A common stock	26.0		26.6		26.7
Class B common stock	21.5		22.0		22.0
EPS Basic
Class A common stock	$	6.22	$	6.36	$	6.57
Class B common stock	$	9.32	$	9.53	$	9.84
EPS Diluted
Class A common stock	$	6.15	$	6.30	$	6.54
Class B common stock	$	9.32	$	9.53	$	9.84

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, 2023:
Class A common stock	128,000,000	42,281,920	25,474,254	16,807,666
Class B common stock	69,120,000	34,560,000	21,331,127	13,228,873
October 31, 2022:
Class A common stock	128,000,000	42,281,920	25,606,287	16,675,633
Class B common stock	69,120,000	34,560,000	21,836,745	12,723,255

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,
	2023	2022	2021
Class A Common Stock:
Basic shares	25,592,928	26,251,536	26,525,529
Assumed conversion of stock options and unvested shares	406,303	359,176	133,692
Diluted shares	25,999,231	26,610,712	26,659,221
Class B Common Stock:
Basic and diluted shares	21,472,531	21,995,865	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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-4

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-5

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481142/505-10-45-2

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-10

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480244/480-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

RESTRUCTURING CHARGES - Additional Information (Details) $ in Millions	12 Months Ended
	Oct. 31, 2023 USD ($) employee plant	Oct. 31, 2022 USD ($) employee plant	Oct. 31, 2021 USD ($) employee plant
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 18.7	$ 13.0	$ 23.1
Number of plants closed \| plant	9	17	5
Number of employees severed \| employee	456	132	177
Amounts remaining to be incurred	$ 12.0
Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	11.8	$ 6.3	$ 14.9
Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6.9	$ 6.7	$ 8.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Leases [Abstract]
Operating lease cost	$ 64.4	$ 64.6
Finance lease cost - amortization	4.8	1.3
Finance lease cost - interest	2.4	0.1
Other lease cost	28.0	23.2
Total lease cost	$ 99.6	$ 89.2

REDEEMABLE NONCONTROLLING INTERESTS - Redeemable Noncontrolling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Redeemable Noncontrolling Interest
Redeemable noncontrolling interests, beginning balance	$ 15.8	$ 24.1
Current period mark to redemption value	(0.1)	(5.5)
Repurchase of redeemable shareholder interest	(4.6)	(1.9)
Acquisition of redeemable shareholder interest	113.0
Redeemable noncontrolling interest share of income	2.7	0.1	$ 2.4
Dividends to redeemable noncontrolling interest and other	(1.5)	(1.0)
Redeemable noncontrolling interests, ending balance	$ 125.3	$ 15.8	$ 24.1

POST-RETIREMENT BENEFIT PLANS - Amounts Recognized in Consolidated Financial Statements - in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss (gain)	$ 110.3	$ 93.4
Unrecognized prior service benefit	(1.1)	(1.4)
Accumulated other comprehensive loss (income) - Pre-tax	109.2	92.0	$ 85.2
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	36.2	30.8
Accrued benefit liability	(56.3)	(58.0)
Accumulated other comprehensive loss - Pre-tax	109.2	92.0	$ 85.2
Net amount recognized	89.1	64.8
United States
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss (gain)	50.7	41.0
Unrecognized prior service benefit	(0.2)	(0.4)
Accumulated other comprehensive loss (income) - Pre-tax	50.5	40.6
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	22.8	11.7
Accrued benefit liability	(28.7)	(30.8)
Accumulated other comprehensive loss - Pre-tax	50.5	40.6
Net amount recognized	44.6	21.5
Germany
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss (gain)	1.6	2.3
Unrecognized prior service benefit	0.0	0.0
Accumulated other comprehensive loss (income) - Pre-tax	1.6	2.3
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	0.0	0.0
Accrued benefit liability	(26.4)	(25.9)
Accumulated other comprehensive loss - Pre-tax	1.6	2.3
Net amount recognized	(24.8)	(23.6)
United Kingdom
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss (gain)	53.9	43.2
Unrecognized prior service benefit	0.0	0.0
Accumulated other comprehensive loss (income) - Pre-tax	53.9	43.2
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	10.2	15.8
Accrued benefit liability	0.0	0.0
Accumulated other comprehensive loss - Pre-tax	53.9	43.2
Net amount recognized	64.1	59.0
Netherlands
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss (gain)	4.3	3.9
Unrecognized prior service benefit	(0.9)	(1.0)
Accumulated other comprehensive loss (income) - Pre-tax	3.4	2.9
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	0.0	0.0
Accrued benefit liability	(1.2)	(1.3)
Accumulated other comprehensive loss - Pre-tax	3.4	2.9
Net amount recognized	2.2	1.6
Other International
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract]
Unrecognized net actuarial loss (gain)	(0.2)	3.0
Unrecognized prior service benefit	0.0	0.0
Accumulated other comprehensive loss (income) - Pre-tax	(0.2)	3.0
Amounts recognized in the Consolidated Balance Sheets consist of:
Prepaid benefit cost	3.2	3.3
Accrued benefit liability	0.0	0.0
Accumulated other comprehensive loss - Pre-tax	(0.2)	3.0
Net amount recognized	$ 3.0	$ 6.3

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Millions	Oct. 31, 2023 USD ($)
Operating Leases
2024	$ 64.8
2025	58.2
2026	49.2
2027	40.1
2028	32.0
Thereafter	106.4
Total lease payments	350.7
Less: interest	(56.7)
Lease liabilities	294.0
Finance Leases
2024	6.7
2025	6.4
2026	6.3
2027	6.1
2028	6.1
Thereafter	18.4
Total lease payments	50.0
Less: interest	(18.7)
Lease liabilities	31.3
Total expected payments
2024	71.5
2025	64.6
2026	55.5
2027	46.2
2028	38.1
Thereafter	124.8
Total lease payments	400.7
Less: interest	(75.4)
Lease, Liability	$ 325.3

SUBSEQUENT EVENTS (Details) - Subsequent Event - Ipackchem $ in Millions	Nov. 17, 2023 USD ($) subsidiaries days_extension
Subsequent Event [Line Items]
Number of subsidiaries \| subsidiaries	2
Purchase price \| $	$ 538.0
Number of days extension \| days_extension	20

ACQUISITIONS AND DIVESTITURES - Schedule of Preliminary Valuation of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Aug. 23, 2023	Mar. 31, 2023	Dec. 15, 2022	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Recognized amounts of identifiable assets acquired and liabilities assumed
Goodwill				$ 1,693.0	$ 1,464.5	$ 1,515.4
ColePak, LLC
Fair value of consideration transferred
Cash consideration	$ 74.6
Noncontrolling interest	72.1
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	6.7
Inventories	3.3
Intangibles	59.0
Operating lease assets	8.6
Properties, plants and equipment	19.4
Total assets acquired	97.0
Accounts payable and other current liabilities	1.8
Operating lease liabilities	(8.6)
Total liabilities assumed	(10.4)
Total identifiable net assets	86.6
Goodwill	$ 60.1
Lee Container Acquisition
Fair value of consideration transferred
Cash consideration			$ 303.0
Cash Consideration, Measurement Period Adjustment			0.2
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			21.5
Accounts receivable, Measurement Period Adjustment			(0.4)
Inventories			22.3
Inventories, Measurement Period Adjustment			(5.2)
Prepaid and other current assets			0.5
Intangibles			133.5
Properties, plants and equipment			54.7
Finance lease assets			33.4
Finance lease assets, Measurement Period Adjustment			1.0
Total assets acquired			265.9
Total assets acquired, Measurement Period Adjustment			(4.6)
Accounts payable			(3.9)
Accrued payroll and employee benefits			(1.3)
Other current liabilities			(0.2)
Other current liabilities, Measurement Period Adjustment			2.9
Finance lease liabilities			(33.4)
Finance lease liabilities, Measurement Period Adjustment			(2.8)
Total liabilities assumed			(38.8)
Total liabilities assumed, Measurement Period Adjustment			0.1
Total identifiable net assets			227.1
Total identifiable net assets, Measurement Period Adjustment			(4.5)
Goodwill			75.9
Goodwill, Measurement Period Adjustment			4.7
Lee Container Acquisition \| Previously Reported
Fair value of consideration transferred
Cash consideration			302.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			21.9
Inventories			27.5
Prepaid and other current assets			0.5
Intangibles			133.5
Properties, plants and equipment			54.7
Finance lease assets			32.4
Total assets acquired			270.5
Accounts payable			(3.9)
Accrued payroll and employee benefits			(1.3)
Other current liabilities			(3.1)
Finance lease liabilities			(30.6)
Total liabilities assumed			(38.9)
Total identifiable net assets			231.6
Goodwill			$ 71.2
Centurion Container LLC
Fair value of consideration transferred
Cash consideration		$ 144.5
Noncontrolling interest		40.9
Previously held interest		16.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable		12.4
Inventories		2.0
Prepaid and other current assets		0.4
Intangibles		92.8
Intangibles, Measurement Period Adjustment		9.4
Operating lease assets		10.2
Properties, plants and equipment		7.7
Total assets acquired		125.5
Total assets acquired, Measurement Period Adjustment		9.4
Accounts payable		(4.2)
Other current liabilities		(4.3)
Operating lease liabilities		(10.2)
Total liabilities assumed		(18.7)
Total identifiable net assets		106.8
Total identifiable net assets, Measurement Period Adjustment		9.4
Goodwill		95.4
Goodwill, Measurement Period Adjustment		(9.4)
Centurion Container LLC \| Previously Reported
Fair value of consideration transferred
Cash consideration		144.5
Noncontrolling interest		40.9
Previously held interest		16.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable		12.4
Inventories		2.0
Prepaid and other current assets		0.4
Intangibles		83.4
Operating lease assets		10.2
Properties, plants and equipment		7.7
Total assets acquired		116.1
Accounts payable		(4.2)
Other current liabilities		(4.3)
Operating lease liabilities		(10.2)
Total liabilities assumed		(18.7)
Total identifiable net assets		97.4
Goodwill		$ 104.8

POST-RETIREMENT BENEFIT PLANS - Fair Value Measurements for Pension Assets (Details) - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	$ 584.0	$ 624.6
Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	292.3	351.0
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	47.4	78.9
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	244.9	272.1
Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Mutual funds \| Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	59.8	120.9
Mutual funds \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	35.5	62.9
Mutual funds \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	24.3	58.0
Mutual funds \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Cash \| Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	11.9	16.0
Cash \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	11.9	16.0
Cash \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Cash \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Corporate bonds \| Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	159.1	160.5
Corporate bonds \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Corporate bonds \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	159.1	160.5
Corporate bonds \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	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]
Asset Category	120.4	123.4
Government bonds \| Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	57.5	51.6
Government bonds \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Government bonds \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	57.5	51.6
Government bonds \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Other assets \| Fair Value, Inputs, Level 1, Level 2, and Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	4.0	2.0
Other assets \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Other assets \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	4.0	2.0
Other assets \| Level 3
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	0.0	0.0
Insurance contracts \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	87.9	72.9
Common stock \| Investments Measured at Net Asset Value
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Asset Category	$ 83.4	$ 77.3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Cash flows from operating activities:
Net income	$ 379.1	$ 394.0	$ 413.2
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	230.6	216.6	234.4
Timberland gains, net	0.0	0.0	(95.7)
Non-cash asset impairment charges	20.3	71.0	8.9
Non-cash pension settlement charges	3.5	0.0	9.1
Gain on disposal of properties, plants and equipment, net	(2.5)	(8.1)	(3.7)
(Gain) loss on disposals of businesses, net	(64.0)	(1.4)	0.2
Unrealized foreign exchange loss (gain)	12.7	(1.6)	1.0
Deferred income tax (benefit) expense	(28.7)	13.4	(47.2)
Debt extinguishment charges	0.0	22.6	0.0
Non-cash lease expense	38.0	35.7	40.0
Other, net	2.2	0.8	(2.4)
Increase (decrease) in cash from changes in certain assets and liabilities, net of impacts from acquisitions:
Trade accounts receivable	130.3	25.1	(247.5)
Inventories	101.0	6.1	(205.6)
Accounts payable	(79.8)	(40.5)	230.4
Restructuring reserves	4.4	(6.6)	(1.4)
Operating leases	(37.3)	(36.9)	(43.5)
Pension and post-retirement benefit liabilities	(26.9)	(24.7)	(11.5)
Other, net	(33.4)	(8.0)	117.3
Net cash provided by operating activities	649.5	657.5	396.0
Cash flows from investing activities:
Acquisitions of companies, net of cash acquired	(542.4)	0.0	0.0
Purchases of properties, plants and equipment	(213.6)	(176.3)	(140.7)
Purchases of and investments in timber properties	(6.0)	(6.7)	(6.6)
Proceeds from the sale of properties, plants, equipment and other assets	8.6	20.3	16.2
Proceeds from the sale of businesses	105.3	139.2	2.7
Proceeds on timberlands	0.0	0.0	145.1
Payments for deferred purchase price of acquisitions	(22.1)	(4.7)	(3.7)
Collections on receivables held in special purpose entities	0.0	0.0	50.9
Payments for issuance of loans receivable	0.0	0.0	(15.0)
Other	0.0	0.0	(2.1)
Net cash (used in) provided by investing activities	(670.2)	(28.2)	46.8
Cash flows from financing activities:
Proceeds from issuance of long-term debt	2,285.6	3,915.8	1,806.4
Payments on long-term debt	(2,028.6)	(4,105.2)	(2,176.4)
(Payments on) proceeds from short-term borrowings, net	(0.7)	(36.3)	21.1
Proceeds from trade accounts receivable credit facility	180.2	301.9	106.0
Payments on trade accounts receivable credit facility	(145.8)	(365.3)	(23.1)
Payments for liabilities held in special purpose entities	0.0	0.0	(43.3)
Dividends paid to Greif, Inc. shareholders	(116.5)	(111.3)	(105.8)
Dividends paid to noncontrolling interests	(14.2)	(17.2)	(7.8)
Payments for debt extinguishment and issuance costs	0.0	(20.8)	0.0
Payments for share repurchases	(63.9)	(71.1)	0.0
Forward contract for accelerated share repurchases	0.0	(15.0)	0.0
Tax withholding payments for stock-based awards	(13.7)	0.0	0.0
Purchases of redeemable and mandatorily redeemable noncontrolling interest	(7.3)	(6.5)	0.0
Other, net	(5.4)	0.0	0.0
Net cash provided by (used in) financing activities	69.7	(531.0)	(422.9)
Reclassification of cash to assets held for sale	0.0	0.0	0.5
Effects of exchange rates on cash	(15.2)	(75.8)	(1.7)
Net increase in cash and cash equivalents	33.8	22.5	18.7
Cash and cash equivalents at beginning of year	147.1	124.6	105.9
Cash and cash equivalents at end of year	180.9	147.1	124.6
Non-cash transactions:
Capital expenditures included in accounts payable	29.1	24.4	38.7
Schedule of interest and income taxes paid:
Cash payments for interest expense	112.9	70.3	104.5
Cash payments for taxes	$ 155.2	$ 157.0	$ 54.7

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Goodwill [Roll Forward]
Goodwill beginning balance	$ 1,464.5	$ 1,515.4
Currency translation	15.5	(50.9)
Goodwill acquired	235.5
Goodwill allocated to divestitures	(22.5)
Goodwill ending balance	1,693.0	1,464.5
Accumulated goodwill impairment loss	63.3	63.3	$ 63.3
Global Industrial Packaging
Goodwill [Roll Forward]
Goodwill beginning balance	696.6	747.3
Currency translation	15.6	(50.7)
Goodwill acquired	175.4
Goodwill allocated to divestitures	0.0
Goodwill ending balance	887.6	696.6
Paper Packaging & Services
Goodwill [Roll Forward]
Goodwill beginning balance	767.9	768.1
Currency translation	(0.1)	(0.2)
Goodwill acquired	60.1
Goodwill allocated to divestitures	(22.5)
Goodwill ending balance	$ 805.4	$ 767.9

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

COMPREHENSIVE INCOME (LOSS) (Loss)

12 Months Ended

Oct. 31, 2023

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

The following table provides the roll forward of accumulated other comprehensive income (loss) for the years ended October 31, 2023 and 2022:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2021	$	(295.4)	$	(3.6)	$	(57.5)	$	(356.5)
Other Comprehensive Income (Loss)	$	(134.2)	$	76.4	$	(1.1)	$	(58.9)
Foreign Currency Translation Released from Business Divestment	$	113.1	$	—	$	—	$	113.1
Balance as of October 31, 2022	$	(316.5)	$	72.8	$	(58.6)	$	(302.3)
Other Comprehensive Income (Loss)	(1.2)		(1.1)		(11.9)		(14.2)

Balance as of October 31, 2023	$	(317.7)	$	71.7	$	(70.5)	$	(316.5)

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

EARNINGS PER SHARE - Additional Information (Details)			12 Months Ended
EARNINGS PER SHARE - Additional Information (Details)	Feb. 28, 2023 shares	Jun. 24, 2022 shares	Oct. 31, 2023 USD ($) class_of_stock $ / shares	May 26, 2023 USD ($) shares	Oct. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 23, 2022 USD ($)
Class of Stock [Line Items]
Number of classes of stock \| class_of_stock			2
Stock repurchase program, authorized amount						$ 150,000,000
Percentage of expected share repurchases		80.00%
Shares acquired (in shares) \| shares	94,259
Share repurchases			$ 64,400,000		$ 86,100,000
Open Market Purchases
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount							$ 75,000,000
Class A common stock
Class of Stock [Line Items]
Dividend proportions (usd per share) \| $ / shares			$ 1
Percentage of shares outstanding used in two class method calculation			40.00%
Additional number of shares under accelerated share repurchase program (in shares) \| shares		1,021,451
Share repurchases				$ 25,000,000
Repurchase of common stock (in shares) \| shares				406,343
Class A common stock \| Accelerated Share Repurchase Agreement
Class of Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount							$ 75,000,000
Class B common stock
Class of Stock [Line Items]
Dividend proportions (usd per share) \| $ / shares			$ 0.015
Percentage of shares outstanding used in two class method calculation			60.00%
Share repurchases				$ 50,000,000
Repurchase of common stock (in shares) \| shares				676,598

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 31, 2023	Oct. 31, 2022
Current assets
Cash and cash equivalents	$ 180.9	$ 147.1
Trade accounts receivable, net of allowance	659.4	749.1
Inventories:
Raw materials	255.8	316.0
Finished goods	82.8	87.3
Assets held for sale	5.0	1.3
Prepaid expenses	46.0	57.3
Other current assets	139.2	141.3
Total current assets	1,369.1	1,499.4
Long-term assets
Goodwill	1,693.0	1,464.5
Other intangible assets, net of amortization	792.2	576.2
Deferred tax assets	22.9	10.1
Pension assets	36.2	30.8
Operating lease assets	290.3	254.7
Finance lease assets	30.5	1.2
Other long-term assets	164.0	178.0
Total long-term assets	3,029.1	2,515.5
Properties, plants and equipment
Timber properties, net of depletion	229.6	226.8
Land	153.7	154.8
Buildings	544.3	515.1
Machinery and equipment	2,138.8	1,968.3
Capital projects in progress	200.5	182.9
Properties, plants and equipment, gross	3,266.9	3,047.9
Accumulated depreciation	(1,704.3)	(1,592.9)
Properties, plants and equipment, net	1,562.6	1,455.0
Total assets	5,960.8	5,469.9
Current liabilities
Accounts payable	497.8	561.3
Accrued payroll and employee benefits	137.7	174.4
Restructuring reserves	16.8	12.3
Current portion of long-term debt	88.3	71.1
Short-term borrowings	5.4	5.7
Current portion of operating lease liabilities	53.8	48.9
Current portion of finance lease liabilities	3.4	0.9
Other current liabilities	136.1	173.3
Total current liabilities	939.3	1,047.9
Long-term liabilities
Long-term debt	2,121.4	1,839.3
Operating lease liabilities	240.2	209.4
Finance lease liabilities	27.9	0.2
Deferred tax liabilities	325.6	343.6
Pension liabilities	56.3	58.0
Post-retirement benefit obligations	6.2	7.2
Contingent liabilities and environmental reserves	17.3	19.0
Long-term income tax payable	21.2	25.6
Other long-term liabilities	93.8	109.6
Total long-term liabilities	2,909.9	2,611.9
Commitments and Contingencies (Note 10)
Redeemable Noncontrolling Interests (Note 15)	125.3	15.8
Equity
Common stock, without par value	208.4	173.5
Treasury stock, at cost	(281.9)	(205.1)
Retained earnings	2,337.9	2,095.2
Accumulated other comprehensive income (loss), net of tax:
Foreign currency translation	(317.7)	(316.5)
Derivative financial instruments	71.7	72.8
Minimum pension liabilities	(70.5)	(58.6)
Total Greif, Inc. shareholders’ equity	1,947.9	1,761.3
Noncontrolling interests	38.4	33.0
Total shareholders’ equity	1,986.3	1,794.3
Total liabilities and shareholders’ equity	$ 5,960.8	$ 5,469.9

EARNINGS PER SHARE - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$ 359.2	$ 376.7	$ 390.7
Cash dividends	(116.5)	(111.3)	(105.8)
Undistributed net income attributable to Greif, Inc.	$ 242.7	$ 265.4	$ 284.9
Class A common stock
Denominator for basic EPS
Denominator for basic EPS (in shares)	25,592,928	26,251,536	26,525,529
Denominator for diluted EPS
Denominator for diluted EPS (in shares)	25,999,231	26,610,712	26,659,221
EPS Basic
EPS Basic (usd per share)	$ 6.22	$ 6.36	$ 6.57
EPS Diluted
EPS Diluted (usd per share)	$ 6.15	$ 6.30	$ 6.54
Class B common stock
Denominator for basic EPS
Denominator for basic EPS (in shares)	21,472,531	21,995,865	22,007,725
Denominator for diluted EPS
Denominator for diluted EPS (in shares)	21,472,531	21,995,865	22,007,725
EPS Basic
EPS Basic (usd per share)	$ 9.32	$ 9.53	$ 9.84
EPS Diluted
EPS Diluted (usd per share)	$ 9.32	$ 9.53	$ 9.84

COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2021	$	(295.4)	$	(3.6)	$	(57.5)	$	(356.5)
Other Comprehensive Income (Loss)	$	(134.2)	$	76.4	$	(1.1)	$	(58.9)
Foreign Currency Translation Released from Business Divestment	$	113.1	$	—	$	—	$	113.1
Balance as of October 31, 2022	$	(316.5)	$	72.8	$	(58.6)	$	(302.3)
Other Comprehensive Income (Loss)	(1.2)		(1.1)		(11.9)		(14.2)

Balance as of October 31, 2023	$	(317.7)	$	71.7	$	(70.5)	$	(316.5)

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset Impairment Charges
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset Impairment Charges
Increase in gross intangible assets	$ 234.0
Increase intangible assets	286.4
Increase (decrease) in gross intangibles assets due to currency fluctuations	1.9
Impairment of intangible assets, finite-lived	54.3
Amortization expense	71.9	$ 58.2	$ 66.9
Future amortization expense, 2024	77.3
Future amortization expense, 2025	75.4
Future amortization expense, 2026	75.2
Future amortization expense, 2027	75.1
Future amortization expense, 2028	70.5
Value of infinite lived intangible trademarks and trade names related to Blagden Express, Closed-loop, Box Board and Fustiplast	$ 7.9

STOCK-BASED COMPENSATION

12 Months Ended

Oct. 31, 2023

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 material stock-based compensation plans include the Long-Term Incentive Plan, which consists of the 2020 Long-Term Incentive Plan (the “2020 LTIP”) and the 2006 Amended and Restated Long-Term Incentive Plan (the “2006 LTIP”); and the Amended and Restated Outside Directors Equity Award Plan (the “Outside Directors Plan”). The total stock compensation expense recorded under all plans was $21.4 million, $34.4 million and $34.1 million for periods ended October 31, 2023, 2022 and 2021 respectively.

Long-Term Incentive Plan

The Long-Term Incentive Plan is intended to focus management on the key measures that drive superior performance over the longer term. The Long-Term Incentive Plan provides key employees with incentive compensation based upon consecutive and overlapping three-year performance periods that commence at the start of every year. For each three-year performance period, the performance goals are based on performance criteria as determined by the 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:

Grant Date

December 14, 2022

December 16, 2021

December 17, 2020

Service Period

11/1/2022 - 10/31/2025

11/1/2021 - 10/31/2024

11/1/2020 - 10/31/2023

RSUs Granted

105,753

99,006

139,360

Weighted Average Fair Value of RSUs

$68.99

$60.54

$48.50

During 2023, the Company issued 76,005 shares of Class A Common Stock excluding shares withheld for the payment of taxes owed by recipients for RSUs vested for the performance period commenced on November 1, 2020 and ended October 31, 2022.

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 (a) adjusted earnings before interest, taxes, depreciation, depletion and amortization and (b) 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:


Grant Date	December 14, 2022	December 16, 2021	December 17, 2020
Performance Period	11/1/2022 - 10/31/2025	11/1/2021 - 10/31/2024	11/1/2020 - 10/31/2023
PSUs Granted	183,218	162,392	253,102
Weighted Average Fair Value of PSUs at Grant Date	$70.06	$60.08	$47.26
Weighted Average Fair Value of PSUs at Valuation Date	$29.28	$78.06	$115.73
Valuation Date Stock Price	$63.50	$63.50	$63.50
Risk-Free Rate	4.9%	5.3%	—%
Estimated Volatility	28.1%	26.8%	—%

During 2023, the Company issued 256,053 shares of Class A Common Stock excluding shares withheld for the payment of taxes owed by recipients for PSUs vested for the performance period commenced on November 1, 2020 and ended October 31, 2022.

2006 Amended and Restated Long-Term Incentive Plan

For the three-year performance period ending in fiscal 2021, 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 51,593 shares of restricted Class A Common Stock with a grant date fair value of $59.83 for 2022 and 80,252 shares of restricted Class A Common Stock with a grant date fair value of $50.08 for 2021.

The total stock compensation expense recorded under the Long-Term Incentive Plan was $20.1 million, $33.1 million and $32.8 million for the periods ended October 31, 2023, 2022 and 2021, respectively.

Amended and Restated Outside Directors Equity Award Plan

Under the Outside Directors Plan, the Company granted 18,144 shares of restricted Class A Common Stock with a grant date fair value of $70.41 in 2023 and 22,221 shares of restricted Class A Common Stock with a grant date fair value of $57.49 in 2022. The total expense recorded under the Outside Directors Plan was $1.3 million, $1.3 million and $1.2 million for the periods ended October 31, 2023, 2022 and 2021, respectively. All restricted stock awards under the Outside Directors Plan are fully vested at the date of award.

RESTRUCTURING CHARGES - Reconciliation of Beginning and Ended Restructuring Reserve Balances (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 12.3	$ 20.3
Costs incurred and charged to expense	18.7	13.0	$ 23.1
Costs paid or otherwise settled	(14.2)	(21.0)
Restructuring reserve, ending balance	16.8	12.3	20.3
Employee Separation Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	11.2	18.6
Costs incurred and charged to expense	11.8	6.3	14.9
Costs paid or otherwise settled	(6.6)	(13.7)
Restructuring reserve, ending balance	16.4	11.2	18.6
Other Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1.1	1.7
Costs incurred and charged to expense	6.9	6.7
Costs paid or otherwise settled	(7.6)	(7.3)
Restructuring reserve, ending balance	$ 0.4	$ 1.1	$ 1.7

BUSINESS SEGMENT INFORMATION - Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Operating profit:
Total operating profit	$ 605.5	$ 621.2	$ 585.2
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	230.6	216.6	234.4
Capital expenditures:
Total capital expenditures	218.2	161.9	162.2
Global Industrial Packaging
Operating profit:
Total operating profit	334.3	313.7	350.2
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	95.3	73.9	83.1
Paper Packaging & Services
Operating profit:
Total operating profit	264.1	298.5	131.0
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	133.1	139.9	148.0
Land Management
Operating profit:
Total operating profit	7.1	9.0	104.0
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	2.2	2.8	3.3
Operating Segments
Capital expenditures:
Total capital expenditures	205.6	145.7	151.2
Operating Segments \| Global Industrial Packaging
Capital expenditures:
Total capital expenditures	83.9	55.1	71.1
Operating Segments \| Paper Packaging & Services
Capital expenditures:
Total capital expenditures	120.6	90.6	79.9
Operating Segments \| Land Management
Capital expenditures:
Total capital expenditures	1.1	0.0	0.2
Corporate and Other
Capital expenditures:
Total capital expenditures	$ 12.6	$ 16.2	$ 11.0

LEASES - Schedule of Weighted-Average Lease Term and Discount Rate (Details)	Oct. 31, 2023	Oct. 31, 2022
Weighted-average remaining lease term (years):
Operating leases	9 years 1 month 6 days	9 years 10 months 24 days
Finance leases	7 years 10 months 24 days	2 years 7 months 6 days
Weighted-average discount rate:
Operating leases	4.50%	3.77%
Finance leases	6.18%	3.34%

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

12 Months Ended

Oct. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Amortization Expense on Other Intangible Assets


			Years
Trademarks and trade names			5-15
Customer relationships			5-23

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, with general useful lives of the assets as follows:


			Years
Buildings			30
Machinery and equipment			10-15

BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

Oct. 31, 2023

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, 2023:


	Year Ended October 31, 2023
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	1,093.0	$	1,310.9	$	532.9	$	2,936.8
Paper Packaging & Services	2,218.0		—		42.5		2,260.5
Land Management	21.3		—		—		21.3
Total net sales	$	3,332.3	$	1,310.9	$	575.4	$	5,218.6

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


	Year Ended October 31, 2022
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	1,287.1	$	1,700.7	$	664.6	$	3,652.4
Paper Packaging & Services	2,630.8		—		44.3		2,675.1
Land Management	22.0		—		—		22.0
Total net sales	$	3,939.9	$	1,700.7	$	708.9	$	6,349.5

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)	2023		2022		2021
Operating profit:
Global Industrial Packaging	$	334.3	$	313.7	$	350.2
Paper Packaging & Services	264.1		298.5		131.0
Land Management	7.1		9.0		104.0
Total operating profit	$	605.5	$	621.2	$	585.2

Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	95.3	$	73.9	$	83.1
Paper Packaging & Services	133.1		139.9		148.0
Land Management	2.2		2.8		3.3
Total depreciation, depletion and amortization expense	$	230.6	$	216.6	$	234.4

Capital expenditures:
Global Industrial Packaging	$	83.9	$	55.1	$	71.1
Paper Packaging & Services	120.6		90.6		79.9
Land Management	1.1		—		0.2
Total segment	205.6		145.7		151.2
Corporate and other	12.6		16.2		11.0
Total capital expenditures	$	218.2	$	161.9	$	162.2

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, 2023		October 31, 2022
Assets:
Global Industrial Packaging	$	2,737.5	$	2,308.4
Paper Packaging & Services	2,541.1		2,473.9
Land Management	253.2		250.0
Total segment	5,531.8		5,032.3
Corporate and other	429.0		437.6
Total assets	$	5,960.8	$	5,469.9

Long lived assets, net*:
United States	$	1,468.6	$	1,314.7
Europe, Middle East and Africa	311.9		303.7
Asia Pacific and other Americas	102.9		91.3
Total properties, plants and equipment, net	$	1,883.4	$	1,709.7
*includes property, plants and equipment, net, operating lease assets and finance lease assets

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Oct. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On November 17, 2023, two of the Company’s subsidiaries entered into a definitive sale and purchase agreement (the “SPA”) with the owners of the parent of Ipackchem Group SAS (“Ipackchem”) pursuant to which the Company is to acquire Ipackchem for a purchase price valued at approximately $538.0 million, translated based on a 1.05/1.00 Euro to United States dollar exchange rate as of October 18, 2023, subject to certain adjustments. The Company plans to use its existing credit facilities to finance its proposed acquisition of Ipackchem. The acquisition is subject to the satisfaction or waiver of certain conditions, including, among other matters, receipt of certain government and regulatory approvals in France, South Africa and Brazil, as well as Ipackchem’s disposition of certain immaterial assets. The SPA may be terminated, and the acquisition may be abandoned at any time prior to the closing, as follows: (i) by mutual written agreement of the Company and Ipackchem’s parent; (ii) by either the Company or Ipackchem’s parent if the conditions set forth in the SPA have not been fulfilled on or before October 31, 2024 (subject to a 20 days extension option by either party); (iii) by Ipackchem’s parent if the Company fails to comply with its obligation to make certain closing date deliveries or by the Company if Ipackchem’s parent fails to comply with its obligation to make certain closing date deliveries; and (iv) the Company if Ipackchem’s disposition of certain immaterial assets is not completed within six or nine months after October 31, 2023.

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Summary of Quantitative about Significant Unobservable Inputs Used to Determine Fair Value of Impairment of Long-Lived Assets Held and Used (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Long-Lived Assets		$ 20.3	$ 4.0
Impairment of indefinite lived intangibles			4.6
Total		20.3	71.0	$ 8.9
Discounted Cash Flows \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of indefinite lived intangibles			4.6
Machinery and equipment \| Discounted Cash Flows, Indicative Bids \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Long-Lived Assets		$ 20.3	4.0
Land and Building
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Net Assets Held for Sale	$ 62.4
Land and Building \| Indicative Bids \| Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Net Assets Held for Sale			$ 62.4

POST-RETIREMENT BENEFIT PLANS - Fair Value of the Pension Plans Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Change in plan assets:
Fair value of plan assets at beginning of year	$ 624.6
Fair value of plan assets at end of year	584.0	$ 624.6
Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	624.6	950.8
Actual return on plan assets	(0.8)	(258.4)
Expenses paid	(3.4)	(2.8)
Plan participant contributions	0.2	0.2
Foreign currency impact	8.7	(38.8)
Employer contributions	23.7	27.6
Benefits paid out of plan	(61.3)	(54.0)
Settlements	(7.7)
Fair value of plan assets at end of year	584.0	624.6
United States \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	451.1	646.4
Actual return on plan assets	10.3	(179.0)
Expenses paid	(1.7)	(1.9)
Plan participant contributions	0.0	0.0
Foreign currency impact	0.0	0.0
Employer contributions	21.0	28.0
Benefits paid out of plan	(49.1)	(42.4)
Settlements	0.0
Fair value of plan assets at end of year	431.6	451.1
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
Settlements	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	111.6	205.4
Actual return on plan assets	(11.3)	(62.1)
Expenses paid	(1.0)	(0.8)
Plan participant contributions	0.0	0.0
Foreign currency impact	5.7	(27.0)
Employer contributions	1.7	2.5
Benefits paid out of plan	(6.9)	(6.4)
Settlements	0.0
Fair value of plan assets at end of year	99.8	111.6
Netherlands \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	50.3	84.5
Actual return on plan assets	0.0	(16.6)
Expenses paid	(0.5)	0.0
Plan participant contributions	0.2	0.2
Foreign currency impact	3.1	(10.3)
Employer contributions	0.9	(3.0)
Benefits paid out of plan	(4.6)	(4.5)
Settlements	0.0
Fair value of plan assets at end of year	49.4	50.3
Other International \| Pension Plan
Change in plan assets:
Fair value of plan assets at beginning of year	11.6	14.5
Actual return on plan assets	0.2	(0.7)
Expenses paid	(0.2)	(0.1)
Plan participant contributions	0.0	0.0
Foreign currency impact	(0.1)	(1.5)
Employer contributions	0.1	0.1
Benefits paid out of plan	(0.7)	(0.7)
Settlements	(7.7)
Fair value of plan assets at end of year	$ 3.2	$ 11.6

STOCK-BASED COMPENSATION - Key Assumptions (Details) - $ / shares				12 Months Ended
	Dec. 14, 2022	Dec. 16, 2021	Dec. 17, 2020	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-Free Rate				4.90%	5.30%	0.00%
Estimated Volatility				28.10%	26.80%	0.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)	105,753,000	99,006,000	139,360,000
Weighted Average Fair Value of Units at Grant Date (in dollars per share)	$ 68.99	$ 60.54	$ 48.50
Restricted Stock Units (RSUs) \| Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)				76,005
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)				183,218,000	162,392,000	253,102,000
Weighted Average Fair Value of Units at Grant Date (in dollars per share)	$ 70.06	$ 60.08	$ 47.26
Weighted Average Fair Value of PSUs at Valuation Date (in dollars per share)				$ 29.28	$ 78.06	$ 115.73
Valuation Date Stock Price (in dollars per share)				$ 63.50	$ 63.50	$ 63.50

EARNINGS PER SHARE

12 Months Ended

Oct. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The 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 certificate 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 Class A EPS

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends Per Share

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

Average Class A Shares Outstanding

Diluted Class A EPS

40% * Average Class A Shares Outstanding

Undistributed Net Income

Class A Dividends Per Share

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

Average Diluted Class A Shares Outstanding

Basic Class B EPS

60% * Average Class B Shares Outstanding

Undistributed Net Income

Class B Dividends Per Share

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)	2023		2022		2021
Numerator
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$	359.2	$	376.7	$	390.7
Cash dividends	(116.5)		(111.3)		(105.8)
Undistributed net income attributable to Greif, Inc.	$	242.7	$	265.4	$	284.9
Denominator
Denominator for basic EPS –
Class A common stock	25.6		26.3		26.5
Class B common stock	21.5		22.0		22.0
Denominator for diluted EPS –
Class A common stock	26.0		26.6		26.7
Class B common stock	21.5		22.0		22.0
EPS Basic
Class A common stock	$	6.22	$	6.36	$	6.57
Class B common stock	$	9.32	$	9.53	$	9.84
EPS Diluted
Class A common stock	$	6.15	$	6.30	$	6.54
Class B common stock	$	9.32	$	9.53	$	9.84

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

In June 2022, the Stock Repurchase Committee of the Company’s Board of Directors authorized a program to repurchase up to $150.0 million of shares of the Company’s Class A or Class B Common Stock or any combination thereof. On June 23, 2022, the Company entered into a $75.0 million accelerated share repurchase agreement (“ASR”) with Bank of America, N.A. for the

repurchase of shares of the Company’s Class A Common Stock. In addition, at that time the Company initiated a plan to repurchase an aggregate of $75.0 million of shares of its Class A or Class B Common Stock, or any combination thereof, in open market purchases (“OSR program”).

Under the ASR, on June 24, 2022, the Company made a payment of $75.0 million and received an initial delivery of approximately 80% of the expected share repurchases, or 1,021,451 shares of Class A Common Stock. On February 28, 2023, the Company received the remaining 94,259 shares of Class A Common Stock.

The Company began making repurchases of Class B Common Stock under the OSR program on September 9, 2022 and repurchases of Class A Common Stock under the OSR program on March 16, 2023 in accordance with Rule 10b-18 promulgated under the Securities Exchange Act of 1934. The OSR program was completed on May 26, 2023, with $25.0 million of shares of Class A Common Stock, or 406,343 shares, and $50.0 million of shares of Class B Common Stock, or 676,598 shares, being repurchased under the OSR program.

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, 2023:
Class A common stock	128,000,000	42,281,920	25,474,254	16,807,666
Class B common stock	69,120,000	34,560,000	21,331,127	13,228,873
October 31, 2022:
Class A common stock	128,000,000	42,281,920	25,606,287	16,675,633
Class B common stock	69,120,000	34,560,000	21,836,745	12,723,255

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


	Year Ended October 31,
	2023	2022	2021
Class A Common Stock:
Basic shares	25,592,928	26,251,536	26,525,529
Assumed conversion of stock options and unvested shares	406,303	359,176	133,692
Diluted shares	25,999,231	26,610,712	26,659,221
Class B Common Stock:
Basic and diluted shares	21,472,531	21,995,865	22,007,725

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

12 Months Ended

Oct. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Business

There were approximately 12,000 full time employees of the Company as of October 31, 2023.

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
Trademarks and trade names			5-15
Customer relationships			5-23

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


			Years
Buildings			30
Machinery and equipment			10-15

Contingencies

Environmental Cleanup Costs

Self-insurance

Income Taxes

Restructuring Charges

Revenue Recognition and Shipping and Handling Fees and Costs

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

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 Consolidated Financial Statements included in Item 8 of this Form 10-K.

Newly Adopted and Recently Issued Accounting Standards

Newly Adopted Accounting Standards

There have been no new accounting pronouncements adopted since the filing of the 2022 Form 10-K.

Recently Issued Accounting Standards

EARNINGS PER SHARE - Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share (Details) - shares	12 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021
Class A common stock
Class of Stock [Line Items]
Basic (in shares)	25,592,928	26,251,536	26,525,529
Assumed conversion of stock options and unvested shares (shares)	406,303	359,176	133,692
Diluted shares (in shares)	25,999,231	26,610,712	26,659,221
Class B common stock
Class of Stock [Line Items]
Basic (in shares)	21,472,531	21,995,865	22,007,725
Diluted shares (in shares)	21,472,531	21,995,865	22,007,725

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

ACQUISITIONS AND DIVESTITURES

12 Months Ended

Oct. 31, 2023

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS AND DIVESTITURES

Acquisitions

ColePak Acquisition

The Company acquired a 51% ownership interest in ColePak, LLC (“ColePak”) on August 23, 2023 (the “ColePak Acquisition”). ColePak is a manufacturer of bulk and specialty partitions made from both containerboard and uncoated recycled board and is the second largest supplier of paper partitions in North America. The total purchase price for this acquisition, net of cash acquired, was $74.6 million. The fair value of the remaining noncontrolling interest of 49% after the acquisition was $72.1 million, which was determined using a Monte Carlo option pricing model, and is redeemable through contractual terms.

The following table summarizes the consideration transferred to acquire ColePak and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:


(in millions)	Amounts Recognized as of the Acquisition Date
Fair value of consideration transferred
Cash consideration	$	74.6
Noncontrolling interest	72.1

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	6.7
Inventories	3.3

Intangibles	59.0
Operating lease assets	8.6

Properties, plants and equipment	19.4
Total assets acquired	97.0

Accounts payable and other current liabilities	(1.8)


Operating lease liabilities	(8.6)


Total liabilities assumed	(10.4)
Total identifiable net assets	$	86.6
Goodwill	$	60.1

The Company recognized goodwill related to this acquisition of $60.1 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expected synergies, economies of scale and expanded market presence, none of which qualify for recognition as a separate intangible asset. ColePak is reported within the Paper Packaging & Services segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes.

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

method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate.

Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. The following table summarizes the preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:


(in millions)	Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	50.6	15.0
Trademarks	8.4		5.0
Total intangible assets	$	59.0

The Company has not yet finalized the determination of the fair value of assets acquired and liabilities assumed, including income taxes and contingencies. The Company expects to finalize these amounts within one year of the acquisition date. The estimate of fair value and purchase price allocation were based on information available at the time of closing the acquisition, and the Company continues to evaluate the underlying inputs and assumptions that are being used in fair value estimates. Accordingly, these preliminary estimates are subject to adjustments during the measurement period, not to exceed one year from the date of the acquisition, based upon new information obtained about facts and circumstances that existed as of the date of closing the acquisition.

ColePak’s results of operations have been included in the Company’s financial statements for the period subsequent to the acquisition date of August 23, 2023. ColePak contributed net sales of $10.4 million for the year ended October 31, 2023.

Centurion Acquisition

The Company completed its acquisition of controlling influence over Centurion Container LLC (“Centurion”) on March 31, 2023 (the “Centurion Acquisition”), by increasing the Company’s ownership interest in Centurion from approximately 10% to 80%. Centurion is a leader in the North American intermediate bulk container (“IBC”) reconditioning industry and is involved in IBC rebottling, reconditioning and distribution. The total purchase price for this acquisition, net of cash acquired, was $144.5 million. The fair value of the remaining noncontrolling interest of 20% after the acquisition was $40.9 million, which was determined using the implied enterprise value based on the purchase price and redemption mechanism, and is redeemable through contractual terms.

Prior to the acquisition, the Company accounted for its approximately 10% ownership interest under the equity method of accounting. The acquisition of a controlling financial interest was accounted for as a step acquisition in accordance with ASC 805. As a result, fair value of our previously held interest in Centurion of $16.8 million was valued using a discounted cash flow model, resulting in a gain of $9.8 million. The gain was reflected in the consolidated statements of income within the gain on disposal of businesses, net line.

The following table summarizes the consideration transferred to acquire Centurion and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:


(in millions)	Amounts Recognized as of the Acquisition Date		Measurement Period Adjustments		Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration	$	144.5	$	—	$	144.5
Noncontrolling interest	40.9		—		40.9
Previously held interest	16.8		—		16.8

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	12.4	$	—	$	12.4
Inventories	2.0		—		2.0
Prepaid and other current assets	0.4		—		0.4
Intangibles	83.4		9.4		92.8
Operating lease assets	10.2		—		10.2

Properties, plants and equipment	7.7		—		7.7
Total assets acquired	116.1		9.4		125.5

Accounts payable	(4.2)		—		(4.2)

Other current liabilities	(4.3)		—		(4.3)
Operating lease liabilities	(10.2)		—		(10.2)


Total liabilities assumed	(18.7)		—		(18.7)
Total identifiable net assets	$	97.4	$	9.4	$	106.8
Goodwill	$	104.8	$	(9.4)	$	95.4

The Company recognized goodwill related to this acquisition of $95.4 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expanded market presence and enhanced business network, none of which qualify for recognition as a separate intangible asset. Centurion is reported within the Global Industrial Packaging segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes.


(in millions)	Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	77.5	12.0
Favorable leases	1.6		19.0
Trademarks	13.7		5.0
Total intangible assets	$	92.8

Centurion’s results of operations have been included in the Company’s financial statements for the period subsequent to the acquisition date of March 31, 2023. Centurion contributed net sales of $55.0 million for the year ended October 31, 2023.

Lee Container Acquisition

The Company acquired Lee Container Corporation, Inc. (“Lee Container”) on December 15, 2022 (the “Lee Container Acquisition”). Lee Container is an industry-leading manufacturer of high-performance barrier and conventional blow molded containers, jerrycans and small plastics. The total purchase price for this acquisition, net of cash acquired, was $303.0 million. The Company incurred transaction costs of $5.1 million to complete this acquisition.

The following table summarizes the consideration transferred to acquire Lee Container and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:


(in millions)	Amounts Recognized as of the Acquisition Date		Measurement Period Adjustments		Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration	$	302.8	$	0.2	$	303.0

Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable	$	21.9	$	(0.4)	$	21.5
Inventories	27.5		(5.2)		22.3
Prepaid and other current assets	0.5		—		0.5
Intangibles	133.5		—		133.5
Finance lease assets	32.4		1.0		33.4

Properties, plants and equipment	54.7		—		54.7
Total assets acquired	270.5		(4.6)		265.9

Accounts payable	(3.9)		—		(3.9)
Accrued payroll and employee benefits	(1.3)		—		(1.3)
Other current liabilities	(3.1)		2.9		(0.2)
Finance lease liabilities	(30.6)		(2.8)		(33.4)


Total liabilities assumed	(38.9)		0.1		(38.8)
Total identifiable net assets	$	231.6	(4.5)		227.1
Goodwill	$	71.2	$	4.7	$	75.9

The Company recognized goodwill related to this acquisition of $75.9 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expected synergies and economies of scale, none of which qualify for recognition as a separate intangible asset. Lee Container is reported within the Global Industrial Packaging segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes.

The cost approach was used to determine the fair value for building improvements and equipment. The cost approach measures the value by estimating the cost to acquire, or construct, comparable assets and adjusts for age and condition. The Company assigned building improvements a useful life ranging from 1 year to 9 years and equipment a useful life ranging from 1 year to 19 years. Acquired property, plant and equipment are being depreciated over their estimated remaining useful lives on a straight-line basis.


(in millions)	Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	120.0	15.0
Trademarks	13.5		5.0
Total intangible assets	$	133.5

The Company is still assessing inventory, among other things, and therefore has not yet finalized the determination of the fair value of assets acquired and liabilities assumed. The Company expects to finalize these amounts within one year of the acquisition date. The estimate of fair value and purchase price allocation were based on information available at the time of closing the acquisition, and the Company continues to evaluate the underlying inputs and assumptions that are being used in fair value estimates. Accordingly, these preliminary estimates are subject to adjustments during the measurement period, not to exceed one year from the acquisition date, based upon new information obtained about facts and circumstances that existed as of the date of closing the acquisition.

Lee Container’s results of operations have been included in the Company’s financial statements for the period subsequent to the acquisition date of December 15, 2022. Lee Container contributed net sales of $109.4 million for the year ended October 31, 2023.

Pro Forma Results


	Twelve Months Ended October 31,
(in millions, except per share amounts)		2023		2022
Pro forma net sales		$	5,276.5	$	6,607.6
Pro forma net income attributable to Greif, Inc.		361.0		380.5
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock		$	6.25	$	6.42
Class B common stock		$	9.36	$	9.62
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock		$	6.18	$	6.36
Class B common stock		$	9.36	$	9.62

The unaudited supplemental pro forma financial information is based on the Company’s preliminary assignment of purchase price and therefore subject to adjustment upon finalizing the purchase price assignment. The pro forma data should not be considered indicative of the results that would have occurred if the acquisition and related financing had been consummated on the assumed completion dates, nor are they indicative of future results.

Reliance Acquisition

The Company acquired Reliance Products, Ltd. (“Reliance”) on October 1, 2023 (the “Reliance Acquisition”). Reliance is a leading producer of high-performance barrier and conventional blow molded jerrycans and small plastics containers in Canada. The total purchase price for this acquisition, net of cash acquired, was $20.2 million. The Company recognized goodwill related to this acquisition of $4.1 million and intangibles related to this acquisition of $1.1 million.

Divestitures

Tama Divestiture

During the first quarter of 2023, the Company completed its divestiture of a U.S. business in the Paper Packaging & Services segment, Tama Paperboard, LLC (the “Tama Divestiture”), for current net cash proceeds of $100.0 million. The Tama Divestiture did not qualify as discontinued operations as it did not represent a strategic shift that has had a major impact on the Company’s operations or financial results. The Tama Divestiture resulted in a $54.6 million gain on sale of business, including goodwill allocated to the sale of $22.5 million.

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended			48 Months Ended
	Dec. 14, 2022	Dec. 16, 2021	Dec. 17, 2020	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2021	Oct. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense				$ 21.4	$ 34.4	$ 34.1
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		3 years
Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense				$ 20.1	$ 33.1	$ 32.8
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)	105,753,000	99,006,000	139,360,000
Weighted average fair value of RSUs (in dollars per share)	$ 68.99	$ 60.54	$ 48.50
Restricted Stock Units (RSUs) \| Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)				76,005
Restricted Stock Units (RSUs) \| 2020 Long Term Incentive Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period on the basis of service only						3 years
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)				183,218,000	162,392,000	253,102,000
Weighted average fair value of RSUs (in dollars per share)	$ 70.06	$ 60.08	$ 47.26
Phantom Share Units (PSUs) \| 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
Performance Shares \| Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)				256,053
Restricted Stock \| 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	3 years	3 years
Percent of award payable in cash				50.00%
Percent of award payable in equity instruments				50.00%
Granted (shares)				51,593		80,252
Weighted average fair value of RSUs (in dollars per share)				$ 59.83		$ 50.08
2005 Outside Directors Equity Award Plan Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense				$ 1.3	$ 1.3	$ 1.2
Granted (shares)				18,144	22,221
Weighted average fair value of RSUs (in dollars per share)				$ 70.41	$ 57.49

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, 2023	Oct. 31, 2022	Oct. 31, 2021
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	$ 30.7
Amounts Incurred During the year ended October 31, 2023	18.7	$ 13.0	$ 23.1
Amounts Remaining to be Incurred	12.0
Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Amounts Incurred During the year ended October 31, 2023	11.8	6.3	$ 14.9
Other Restructuring Costs
Restructuring Cost and Reserve [Line Items]
Amounts Incurred During the year ended October 31, 2023	6.9	$ 6.7
Global Industrial Packaging
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	11.3
Amounts Incurred During the year ended October 31, 2023	4.2
Amounts Remaining to be Incurred	7.1
Global Industrial Packaging \| Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	8.8
Amounts Incurred During the year ended October 31, 2023	3.0
Amounts Remaining to be Incurred	5.8
Global Industrial Packaging \| Other Restructuring Costs
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	2.5
Amounts Incurred During the year ended October 31, 2023	1.2
Amounts Remaining to be Incurred	1.3
Paper Packaging & Services
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	19.4
Amounts Incurred During the year ended October 31, 2023	14.5
Amounts Remaining to be Incurred	4.9
Paper Packaging & Services \| Employee Separation Costs
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	10.2
Amounts Incurred During the year ended October 31, 2023	8.8
Amounts Remaining to be Incurred	1.4
Paper Packaging & Services \| Other Restructuring Costs
Restructuring Cost and Reserve [Line Items]
Total Amounts Expected to be Incurred	9.2
Amounts Incurred During the year ended October 31, 2023	5.7
Amounts Remaining to be Incurred	$ 3.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LEASES - Additional Information (Details)	Oct. 31, 2023
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	19 years

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


	October 31, 2023
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	78.4	$	—	$	78.4	$	—	$	—	$	—	$	—
Foreign exchange hedges	—		0.1		—		0.1		—		(0.1)		—		(0.1)
Insurance annuity	—		—		18.8		18.8		—		—		—		—
Cross currency swap	—		18.9		—		18.9		—		—		—		—

	October 31, 2022
	Assets								Liabilities
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Interest rate derivatives	$	—	$	72.1	$	—	$	72.1	$	—	$	(1.0)	$	—	$	(1.0)
Foreign exchange hedges	—		—		—		—		—		(0.2)		—		(0.2)
Insurance annuity	—		—		17.8		17.8		—		—		—		—
Cross currency swap	—		46.8		—		46.8		—		—		—		—

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of October 31, 2023 and 2022 approximate their fair values because of the short-term nature of these items and are not included in this table.

Interest Rate Derivatives

As of October 31, 2023, the Company has various interest rate swaps with a total notional amount of $1,300.0 million, maturing between March 11, 2024 and July 16, 2029. The Company will receive variable rate interest payments based upon one-month U.S. dollar SOFR, and in return the Company will be obligated to pay interest at a weighted average fixed interest rate of 2.62%. This effectively will convert the borrowing rate on an amount of debt equal to the notional amount of the interest rate swaps from a variable rate to a fixed rate.

The Company is actively monitoring the interest rate market and may execute new interest rate swaps as appropriate. Subsequent to October 31, 2023, the Company entered into additional interest rate swaps, with a total notional of $250.0 million, maturing between November 3, 2028 and December 15, 2028. The Company will receive variable rate interest payments based upon one-month U.S. dollar SOFR, and in return the Company will be obligated to pay interest at a weighted average fixed interest rate of 4.20%. This effectively will convert the borrowing rate on an amount of debt equal to the notional amount of the interest rate swaps 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 SOFR 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 $28.5 million, $(8.4) million and $(18.1) million for the years ended October 31, 2023, 2022 and 2021. A derivative gain of $31.9 million, based upon interest rates at October 31, 2023, 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, 2023, the Company had outstanding foreign currency forward contracts in the notional amount of $66.0 million ($132.1 million as of October 31, 2022).

The Company is actively monitoring the foreign exchange hedges market and may execute new foreign currency forward contracts as appropriate. Subsequent to October 31, 2023, the Company entered into $268.0 million of additional forward contracts maturing February 29, 2024.

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 $1.2 million, $(6.2) million and $0.4 million for the years ended October 31, 2023, 2022 and 2021, respectively. Unrealized net gains (losses) recognized by the Company in other expense, net were zero, $(0.2) million and zero for the years ended October 31, 2023, 2022 and 2021, respectively.

Cross Currency Swap

As of October 31, 2023, the Company has various cross currency interest rate swaps that synthetically swap $319.3 million of fixed rate debt to Euro denominated fixed rate debt. The Company receives a weighted average rate of 1.39% on these swaps. These agreements are designated as either net investment hedges or cash flow hedges for accounting purposes and will mature between March 2, 2024 and October 5, 2026.

The Company is actively monitoring the cross currency interest rate swap market and may execute new cross currency interest rate swaps as appropriate. Subsequent to October 31, 2023, the Company entered into additional cross currency interest rate swaps maturing November 3, 2028 that synthetically swap $213.2 million of fixed rate debt to Euro denominated fixed rate debt. The Company receives a weighted average rate of 1.31% on these swaps.

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 disclosures 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, 2023, 2022 and 2021, gains recorded in interest expense, net under the cross currency swap agreements were $5.1 million, $5.8 million and $2.2 million, respectively.

Other Financial Instruments

The fair values of the Company’s 2022 Credit Agreement, the 2023 Credit Agreement, the U.S. RFA and the 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.”

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

The Company recognized asset impairment charges of $20.3 million and $71.0 million for the years ended October 31, 2023 and 2022.

Quantitative Information about Non-Recurring Fair Value Measurements

(in millions)

Fair Value of
Impairment

Valuation
Technique

Unobservable
Input

Range
of Input Values

October 31, 2023

Impairment of Long-Lived Assets

20.3

Discounted Cash Flows, Indicative Bids

N/A

Total

20.3

October 31, 2022

Impairment of Long-Lived Assets

4.0

Discounted Cash Flows, Indicative Bids

N/A

Impairment of Net Assets Held for Sale

62.4

Indicative Bids

N/A

Impairment of Indefinite-Lived Intangibles

4.6

Discounted Cash Flows

N/A

Total

71.0

During the year ended October 31, 2023, the Company wrote off long-lived assets with a carrying value of $30.5 million to a fair value of $10.2 million, resulting in recognized asset impairment charges of $20.3 million. These charges include $1.9 million related to properties, plants and equipment, net, in the Global Industrial Packaging reportable segment and $18.4 million related to properties, plants and equipment, net, in the Paper Packaging & Services reportable segment.

During the year ended October 31, 2022, the Company wrote down long-lived assets with a carrying value of $4.0 million to a fair value of $0.0 million, resulting in recognized asset impairment charges of $4.0 million. These charges include $2.3 million related to properties, plants and equipment, net in the Global Industrial Packaging reportable segment and $1.7 million related to properties, plants and equipment, net, in the Paper Packaging & Services reportable segment. During the year ended October 31, 2022, the Company entered into a definitive agreement to divest its approximately 50% equity interest in the Flexible Products & Services business (the “FPS Divestiture”). This agreement triggered the reclassification of the Flexible Products & Services business to assets and liabilities held for sale, which further resulted in recognized impairment charges of $62.4 million in the first quarter of 2022. During the year ended October 31, 2022, the Company wrote down indefinite-lived intangible, resulting in recognized impairment charges of $4.6 million.

During the year ended October 31, 2021, the Company wrote down long-lived assets and net assets held for sale 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, and net assets held for sale in the Global Industrial Packaging reportable segment, $1.2 million related to 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.

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Oct. 31, 2023

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, 2023 and 2022:


(in millions)	Global Industrial Packaging (1)		Paper Packaging & Services		Total
Balance at October 31, 2021	$	747.3	$	768.1	$	1,515.4




Currency translation	(50.7)		(0.2)		(50.9)
Balance at October 31, 2022	$	696.6	$	767.9	$	1,464.5
Goodwill acquired	175.4		60.1		235.5
Goodwill allocated to divestitures	—		(22.5)		(22.5)


Currency translation	15.6		(0.1)		15.5
Balance at October 31, 2023	$	887.6	$	805.4	$	1,693.0

(1)Accumulated goodwill impairment loss was $63.3 million as of October 31, 2023, 2022 and 2021, 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 on 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, 2023. The fair value of the Company’s goodwill reporting units exceeded the carrying value, resulting in no impairment. Discount rates, revenue growth rates and gross margins 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, 2023 and 2022:


(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
October 31, 2023:
Indefinite lived:
Trademarks and trade names	$	7.9	$	—	$	7.9
Definite lived:
Customer relationships	1,031.1		283.2		747.9
Trademarks and trade names	44.3		9.6		34.7
Other	2.1		0.4		1.7
Total	$	1,085.4	$	293.2	$	792.2

October 31, 2022:
Indefinite lived:
Trademarks and trade names	$	7.9	$	—	$	7.9
Definite lived:
Customer relationships	834.5		270.0		564.5
Trademarks and trade names	8.3		4.6		3.7
Other	0.7		0.6		0.1
Total	$	851.4	$	275.2	$	576.2

Gross intangible assets increased by $234.0 million for the year ended October 31, 2023. The increase was attributable to $286.4 million additional assets from acquisition and $1.9 million of currency fluctuations, which was offset by the write-off of $54.3 million fully amortized assets.

Amortization expense was $71.9 million, $58.2 million and $66.9 million for the years ended October 31, 2023, 2022 and 2021, respectively. Amortization expense for the next five years is expected to be $77.3 million in 2024, $75.4 million in 2025, $75.2 million in 2026, $75.1 million in 2027 and $70.5 million in 2028.

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 $7.9 million as of October 31, 2023, related primarily to the Tri-Sure trademark and trade names related to Box Board and Pachmas, are not amortized, but rather are tested for impairment at least annually.