Cover - shares	6 Months Ended
Cover - shares	Apr. 30, 2021	Jun. 04, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2021
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000043920
Current Fiscal Year End Date	--10-31
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 Common Stock, Shares Outstanding		26,550,924
Class B Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock
Trading Symbol	GEF-B
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		22,007,725

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Net sales	$ 1,340.6	$ 1,158.3	$ 2,487.1	$ 2,270.7
Cost of products sold	1,074.7	917.6	2,009.0	1,807.4
Gross profit	265.9	240.7	478.1	463.3
Selling, general and administrative expenses	146.8	121.1	281.1	256.5
Restructuring charges	12.0	4.4	15.1	7.7
Timberland gains		0.0	(95.7)	0.0
Acquisition and integration related costs	1.8	4.8	3.8	9.9
Non-cash asset impairment charges	0.2	1.3	1.5	1.4
Loss (gain) on disposal of properties, plants and equipment, net	0.1	(1.3)	1.7	(1.8)
Loss on disposal of businesses, net	0.1	38.4	0.0	38.4
Operating profit	200.6	72.0	270.6	151.2
Interest expense, net	26.7	29.3	51.9	60.0
Non-cash pension settlement charges (income)	0.1	0.0	8.6	(0.1)
Other expense, net	2.8	1.1	2.8	2.4
Income before income tax expense and equity earnings of unconsolidated affiliates, net	171.0	41.6	207.3	88.9
Income tax expense	17.3	26.5	23.4	37.9
Equity earnings of unconsolidated affiliates, net of tax	(0.3)	(0.7)	(1.0)	(0.9)
Net income	154.0	15.8	184.9	51.9
Net income attributable to noncontrolling interests	(4.2)	(4.4)	(11.7)	(8.2)
Net income attributable to Greif, Inc.	$ 149.8	$ 11.4	$ 173.2	$ 43.7
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)	$ 2.51	$ 0.19	$ 2.91	$ 0.74
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	$ 2.51	$ 0.19	$ 2.91	$ 0.74
Weighted-average number of common shares outstanding:
Weighted-average number of common shares outstanding, basic (shares)	26,544,197	26,386,439	26,500,134	26,323,691
Weighted-average number of common shares outstanding, diluted (shares)	26,664,247	26,386,439	26,602,750	26,323,691
Cash dividends declared per common share:
Cash dividends declared per common share (usd per share)	$ 0.44	$ 0.44	$ 0.88	$ 0.88
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)	3.77	0.29	4.36	1.10
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (usd per share)	$ 3.77	$ 0.29	$ 4.36	$ 1.10
Weighted-average number of common shares outstanding:
Weighted-average number of common shares outstanding, basic (shares)	22,000,000.0	22,000,000.0	22,000,000.0	22,000,000.0
Weighted-average number of common shares outstanding, diluted (shares)	22,000,000.0	22,000,000.0	22,000,000.0	22,000,000.0
Cash dividends declared per common share:
Cash dividends declared per common share (usd per share)	$ 0.66	$ 0.66	$ 1.31	$ 1.31

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 154.0	$ 15.8	$ 184.9	$ 51.9
Other comprehensive income (loss), net of tax:
Foreign currency translation	6.6	(52.3)	34.2	(55.4)
Derivative financial instruments	9.5	(23.1)	11.4	(22.9)
Minimum pension liabilities	24.4	1.3	47.1	23.0
Other comprehensive income (loss), net of tax	40.5	(74.1)	92.7	(55.3)
Comprehensive income (loss)	194.5	(58.3)	277.6	(3.4)
Comprehensive income attributable to noncontrolling interests	2.2	0.8	12.3	2.6
Comprehensive income (loss) attributable to Greif, Inc.	$ 192.3	$ (59.1)	$ 265.3	$ (6.0)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Apr. 30, 2021	Oct. 31, 2020
Current assets
Cash and cash equivalents	$ 110.4	$ 105.9
Trade accounts receivable, less allowance of $6.5 in 2021 and $9.4 in 2020	751.1	636.6
Inventories:
Raw materials	279.7	208.4
Work-in-process	1.6	5.4
Finished goods	90.6	79.8
Assets held for sale	9.2	57.0
Other current assets	81.4	115.8
Prepaid expenses	58.7	43.0
Total current assets	1,382.7	1,302.8
Long-term assets
Goodwill	1,531.2	1,518.4
Other intangible assets, net of amortization	683.2	715.3
Deferred tax assets	28.0	11.3
Pension asset	43.2	29.5
Operating lease assets	299.7	307.5
Other long-term assets	120.8	99.2
Total long term assets, excluding properties, plants and equipment	2,706.1	2,681.2
Properties, plants and equipment
Timber properties, net of depletion	223.3	224.5
Land	164.5	162.6
Buildings	539.3	524.7
Machinery and equipment	2,004.8	1,930.6
Capital projects in progress	115.7	120.6
Properties, plants and equipment, gross	3,047.6	2,963.0
Accumulated depreciation	(1,548.5)	(1,436.1)
Properties, plants and equipment, net	1,499.1	1,526.9
Total assets	5,587.9	5,510.9
Current liabilities
Accounts payable	579.6	450.7
Accrued payroll and employee benefits	118.3	122.3
Restructuring reserves	21.6	21.6
Current portion of long-term debt	114.1	123.1
Short-term borrowings	44.7	28.4
Other current liabilities	173.9	158.4
Current portion of operating lease liabilities	52.7	52.3
Mandatorily redeemable noncontrolling interests	5.0	0.0
Total current liabilities	1,109.9	1,000.1
Long-term liabilities
Long-term debt	2,154.6	2,335.5
Operating lease liabilities	249.6	257.7
Deferred tax liabilities	336.4	339.2
Pension liabilities	83.7	137.7
Postretirement benefit obligations	11.4	11.6
Contingent liabilities and environmental reserves	19.5	20.2
Mandatorily redeemable noncontrolling interests	3.4	8.4
Long-term income tax payable	27.8	27.8
Other long-term liabilities	142.6	152.0
Total long-term liabilities	3,029.0	3,290.1
Commitments and contingencies (Note 8)
Redeemable noncontrolling interests	19.3	20.0
Equity
Common stock, without par value	177.6	170.2
Treasury stock, at cost	(134.1)	(134.4)
Retained earnings	1,666.1	1,543.9
Accumulated other comprehensive loss, net of tax:
Total Greif, Inc. shareholders' equity	1,374.2	1,152.2
Noncontrolling interests	55.5	48.5
Total shareholders' equity	1,429.7	1,200.7
Total liabilities and shareholders' equity	5,587.9	5,510.9
Foreign Currency Translation
Accumulated other comprehensive loss, net of tax:
Total Greif, Inc. shareholders' equity	(261.3)	(294.9)
Derivative Financial Instruments
Accumulated other comprehensive loss, net of tax:
Total Greif, Inc. shareholders' equity	(13.3)	(24.7)
Minimum Pension Liability Adjustment
Accumulated other comprehensive loss, net of tax:
Total Greif, Inc. shareholders' equity	(60.8)	(107.9)
Held by special purpose entities
Inventories:
Other current assets	0.0	50.9
Current liabilities
Other current liabilities	$ 0.0	$ 43.3

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Apr. 30, 2021	Oct. 31, 2020
Statement of Financial Position [Abstract]
Allowance of trade accounts receivable	$ 6.5	$ 9.4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Cash flows from operating activities:
Net income	$ 184.9	$ 51.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	118.1	122.5
Non-cash asset impairment charges	1.5	1.4
Non-cash pension settlement charges (income)	8.6	(0.1)
Loss (gain) on disposals of properties, plants and equipment, net	1.7	(1.8)
Loss on disposals of businesses, net	0.0	38.4
Timberland gains	(95.7)	0.0
Unrealized foreign exchange loss (income)	0.9	(0.8)
Deferred income tax benefit	(41.5)	(0.5)
Non-cash lease expense	26.1	28.6
Other, net	(0.5)	(0.9)
Increase (decrease) in cash from changes in certain assets and liabilities:
Trade accounts receivable	(98.4)	(28.7)
Inventories	(71.4)	(23.0)
Accounts payable	125.8	20.2
Restructuring reserves	(0.2)	(4.3)
Operating leases	(29.5)	(28.1)
Pension and post-retirement benefit liabilities	(11.9)	(11.7)
Other, net	45.3	(43.8)
Net cash provided by operating activities	163.8	119.3
Cash flows from investing activities:
Purchases of properties, plants and equipment	(57.7)	(65.4)
Purchases of and investments in timber properties	(2.5)	(2.8)
Proceeds from the sale of timberlands	145.1	0.0
Collections of receivables held in special purpose entities	50.9	0.0
Payments for issuance of loans receivable	(15.0)	0.0
Proceeds from the sale of businesses	0.0	81.6
Other, net	(2.5)	(0.6)
Net cash provided by investing activities	118.3	12.8
Cash flows from financing activities:
Proceeds from issuance of long-term debt	744.6	745.4
Payments on long-term debt	(990.1)	(789.3)
Proceeds (payments) on short-term borrowings, net	15.2	(5.0)
Proceeds from trade accounts receivable credit facility	61.6	64.3
Payments on trade accounts receivable credit facility	(18.3)	(77.3)
Dividends paid to Greif, Inc. shareholders	(52.2)	(52.0)
Payments for liabilities held in special purpose entities	(43.3)	0.0
Dividends paid to noncontrolling interests	(4.9)	(8.5)
Net cash used in financing activities	(287.4)	(122.4)
Effects of exchange rates on cash	9.8	(14.6)
Net increase (decrease) in cash and cash equivalents	4.5	(4.9)
Cash and cash equivalents at beginning of period	105.9	77.3
Cash and cash equivalents at end of period	$ 110.4	$ 72.4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Millions	Total	Executive	Directors	Capital Stock	Capital Stock Executive	Capital Stock Directors	Treasury Stock	Treasury Stock Executive	Treasury Stock Directors	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Greif, Inc. Equity	Greif, Inc. Equity Executive	Greif, Inc. Equity Directors	Non controlling interests
Beginning balance (shares) at Oct. 31, 2019				48,266			28,576
Beginning balance at Oct. 31, 2019	$ 1,191.1			$ 162.6			$ (134.8)			$ 1,539.0	$ (433.7)	$ 1,133.1			$ 58.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	51.9									43.7		43.7			8.2
Other comprehensive income (loss):
Foreign currency translation	(55.4)										(49.8)	(49.8)			(5.6)
Derivative financial instruments, net of income tax expense	(22.9)										(22.9)	(22.9)
Minimum pension liability adjustment, net of income tax expense	23.0										23.0	23.0
Comprehensive income (loss)	(3.4)											(6.0)
Current period mark to redemption value of redeemable noncontrolling interest	1.1									1.1		1.1
Net income allocated to redeemable noncontrolling interests	(0.1)														(0.1)
Dividends paid to Greif, Inc. shareholders	(52.0)									(52.0)		(52.0)
Dividends paid to noncontrolling interests and other	(8.5)														(8.5)
Long-term incentive shares issued (shares)				153			(153)
Long-term incentive shares issued	5.3			$ 5.0			$ 0.3					5.3
Share based compensation	0.5			$ 0.5								0.5
Restricted stock (shares)					3	28		(3)	(28)
Restricted stock		$ 0.2	$ 1.0		$ 0.1	$ 1.0		$ 0.1					$ 0.2	$ 1.0
Ending balance (shares) at Apr. 30, 2020				48,450			28,392
Ending balance at Apr. 30, 2020	1,135.2			$ 169.2			$ (134.4)			1,531.8	(483.4)	1,083.2			52.0
Beginning balance (shares) at Jan. 31, 2020				48,269			28,573
Beginning balance at Jan. 31, 2020	1,222.7			$ 162.7			$ (134.7)			1,548.7	(412.9)	1,163.8			58.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15.8									11.4		11.4			4.4
Other comprehensive income (loss):
Foreign currency translation	(52.3)										(48.7)	(48.7)			(3.6)
Derivative financial instruments, net of income tax expense	(23.1)										(23.1)	(23.1)
Minimum pension liability adjustment, net of income tax expense	1.3										1.3	1.3
Comprehensive income (loss)	(58.3)											(59.1)
Current period mark to redemption value of redeemable noncontrolling interest	(2.2)									(2.2)		(2.2)
Dividends paid to Greif, Inc. shareholders	(26.1)									(26.1)		(26.1)
Dividends paid to noncontrolling interests and other	(7.7)														(7.7)
Long-term incentive shares issued (shares)				153			(153)
Long-term incentive shares issued	0.0			$ 5.0			$ 0.3					5.3
Share based compensation	0.0			$ 0.5								0.5
Restricted stock (shares)						28			(28)
Restricted stock			1.0			$ 1.0								1.0
Ending balance (shares) at Apr. 30, 2020				48,450			28,392
Ending balance at Apr. 30, 2020	1,135.2			$ 169.2			$ (134.4)			1,531.8	(483.4)	1,083.2			52.0
Beginning balance (shares) at Oct. 31, 2020				48,450			28,392
Beginning balance at Oct. 31, 2020	1,200.7			$ 170.2			$ (134.4)			1,543.9	(427.5)	1,152.2			48.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	184.9									173.2		173.2			11.7
Other comprehensive income (loss):
Foreign currency translation	34.2										33.6	33.6			0.6
Derivative financial instruments, net of income tax expense	11.4										11.4	11.4
Minimum pension liability adjustment, net of income tax expense	47.1										47.1	47.1
Comprehensive income (loss)	277.6											265.3
Current period mark to redemption value of redeemable noncontrolling interest	1.2									1.2		1.2
Net income allocated to redeemable noncontrolling interests	(0.8)														(0.8)
Dividends paid to Greif, Inc. shareholders	(52.2)									(52.2)		(52.2)
Dividends paid to noncontrolling interests and other	(4.5)														(4.5)
Long-term incentive shares issued (shares)				80			(80)
Long-term incentive shares issued	4.1			$ 3.9			$ 0.2					4.1
Share based compensation	2.2			$ 2.2								2.2
Restricted stock (shares)					3	26		(3)	(26)
Restricted stock		$ 0.1	1.3		$ 0.1	$ 1.2			$ 0.1				$ 0.1	1.3
Ending balance (shares) at Apr. 30, 2021				48,559			28,283
Ending balance at Apr. 30, 2021	1,429.7			$ 177.6			$ (134.1)			1,666.1	(335.4)	1,374.2			55.5
Beginning balance (shares) at Jan. 31, 2021				48,533			28,309
Beginning balance at Jan. 31, 2021	1,262.6			$ 175.4			$ (134.2)			1,542.0	(377.9)	1,205.3			57.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	154.0									149.8		149.8			4.2
Other comprehensive income (loss):
Foreign currency translation	6.6										8.6	8.6			(2.0)
Derivative financial instruments, net of income tax expense	9.5										9.5	9.5
Minimum pension liability adjustment, net of income tax expense	24.4										24.4	24.4
Comprehensive income (loss)	194.5											192.3
Current period mark to redemption value of redeemable noncontrolling interest	0.6									0.6		0.6
Net income allocated to redeemable noncontrolling interests	(0.5)														(0.5)
Dividends paid to Greif, Inc. shareholders	(26.3)									(26.3)		(26.3)
Dividends paid to noncontrolling interests and other	(3.5)														(3.5)
Share based compensation	1.0			$ 1.0								1.0
Restricted stock (shares)						26			(26)
Restricted stock			$ 1.3			$ 1.2			$ 0.1					$ 1.3
Ending balance (shares) at Apr. 30, 2021				48,559			28,283
Ending balance at Apr. 30, 2021	$ 1,429.7			$ 177.6			$ (134.1)			$ 1,666.1	$ (335.4)	$ 1,374.2			$ 55.5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Derivative gain (loss), tax	$ (3.2)		$ (3.8)
Defined benefit plan, tax	$ (8.8)		$ (16.2)	$ (7.5)
Class A Common Stock
Dividend paid (usd per share)	$ 0.44	$ 0.44	$ 0.88	$ 0.88
Class B Common Stock
Dividend paid (usd per share)	$ 0.66	$ 0.66	$ 1.31	$ 1.31

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Apr. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions to Quarterly Reports on Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates. The fiscal year of Greif, Inc. and its subsidiaries (the “Company”) 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. The information filed herein reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated balance sheets as of April 30, 2021 and October 31, 2020, the interim condensed consolidated statements of income, comprehensive income and changes in shareholders' equity for the three and six months ended April 30, 2021 and 2020 and the interim condensed consolidated statements of cash flows for the six months ended April 30, 2021 and 2020 of the Company. The interim condensed consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and consolidated subsidiaries and investments in limited liability companies, partnerships and joint ventures in which it has controlling influence or is the primary beneficiary. Non-majority owned entities include investments in limited liability companies, partnerships and joint ventures in which the Company does not have controlling influence and are accounted for using either the equity or cost method, as appropriate. The unaudited interim condensed consolidated financial statements included in the Quarterly Report on Form 10-Q (this “Form 10-Q”) should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended October 31, 2020 (the “2020 Form 10-K”). Effective the first quarter 2021, the Company adjusted its reportable segments. The presentation of prior periods throughout Part I Item 1 of this Form 10-Q has been modified to reflect the new segment reporting structure. See Note 12 to the Interim Condensed Consolidated Financial Statements for additional information. Newly Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, “Financial Instruments – Credit Losses.” This ASU sets forth a current expected credit loss model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonably supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. The Company adopted this ASU on November 1, 2020. The adoption of this guidance did not have a material impact on financial position, results of operations, comprehensive income, cash flows or disclosures. Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes", which is intended to simplify accounting for income taxes. This ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, with early adoption permitted. The effective date for the Company to adopt this ASU is November 1, 2021. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

RESTRUCTURING CHARGES

6 Months Ended

Apr. 30, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2021:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at October 31, 2020	$	17.9	$	3.7	$	21.6
Costs incurred and charged to expense	10.6		4.5		15.1
Costs paid or otherwise settled	(9.3)		(5.8)		(15.1)
Balance at April 30, 2021	$	19.2	$	2.4	$	21.6

The focus for restructuring activities in 2021 is to optimize and integrate operations in the Paper Packaging & Services segment and to rationalize operations and close underperforming assets in the Global Industrial Packaging segment.

During the three months ended April 30, 2021, the Company recorded restructuring charges of $12.0 million, as compared to $4.4 million of restructuring charges recorded during the three months ended April 30, 2020. The restructuring activity for the three months ended April 30, 2021 consisted of $9.1 million in employee separation costs and $2.9 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

During the six months ended April 30, 2021, the Company recorded restructuring charges of $15.1 million, as compared to $7.7 million of restructuring charges recorded during the six months ended April 30, 2020. The restructuring activity for the six months ended April 30, 2021 consisted of $10.6 million in employee separation costs and $4.5 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

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-Q. Remaining amounts expected to be incurred were $19.4 million as of April 30, 2021:


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the six months ended April 30, 2021		Amounts Remaining to be Incurred
Global Industrial Packaging
Employee separation costs	$	18.4	$	10.5	$	7.9
Other restructuring costs	7.9		2.4		5.5
	26.3		12.9		13.4
Paper Packaging & Services

Other restructuring costs	8.1		2.1		6.0
	8.1		2.1		6.0
Land Management
Employee separation costs	0.1		0.1		—

	0.1		0.1		—
	$	34.5	$	15.1	$	19.4

LONG-TERM DEBT

6 Months Ended

Apr. 30, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT

Long-term debt is summarized as follows:


(in millions)	April 30, 2021		October 31, 2020
2019 Credit Agreement - Term Loans	$	1,132.4	$	1,429.8
Senior Notes due 2027	495.6		495.1
Senior Notes due 2021	242.3		234.8
Accounts receivable credit facilities	356.1		310.0
2019 Credit Agreement - Revolving Credit Facility	53.9		—

	2,280.3		2,469.7
Less: current portion	114.1		123.1
Less: deferred financing costs	11.6		11.1
Long-term debt, net	$	2,154.6	$	2,335.5

2019 Credit Agreement

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

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

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

As of April 30, 2021, $1,186.3 million was outstanding under the 2019 Credit Agreement. The current portion of such outstanding amount was $114.1 million, and the long-term portion was $1,072.2 million. The weighted average interest rate for borrowings under the 2019 Credit Agreement was 1.96% for the six months ended April 30, 2021. The actual interest rate for borrowings under the 2019 Credit Agreement was 1.90% as of April 30, 2021. The deferred financing costs associated with the term loan portion of the 2019 Credit Agreement totaled $9.5 million as of April 30, 2021 and are recorded as a direct deduction from the balance sheet line Long-Term Debt. The deferred financing costs associated with the revolver portion of the 2019 Credit Agreement totaled $5.2 million as of April 30, 2021 and are recorded within Other Long-Term Assets.

Senior Notes due 2027

On February 11, 2019, the Company issued $500.0 million of 6.50% Senior Notes due March 1, 2027 (the "Senior Notes due 2027"). Interest on the Senior Notes due 2027 is payable semi-annually commencing on September 1, 2019. The Company's obligations under the Senior Notes due 2027 are guaranteed by its U.S. subsidiaries that guarantee the 2019 Credit Agreement.

The deferred financing cost associated with the Senior Notes due 2027 totaled $2.1 million as of April 30, 2021 and are recorded as a direct deduction from the balance sheet line Long-Term Debt.

Senior Notes due 2021

On July 15, 2011, Greif, Inc.’s wholly-owned subsidiary, Greif Nevada Holdings, Inc., S.C.S., issued €200.0 million of 7.375% Senior Notes due July 15, 2021 (the "Senior Notes due 2021"). The Senior Notes due 2021 are guaranteed on a senior basis by Greif, Inc. Interest on the Senior Notes due 2021 is payable semi-annually. During the first quarter of 2021, the Company entered into the Incremental Term A-3 Loan Agreement, as described above, with the intent to utilize the proceeds from the Incremental Term A-3 Loan to pay down the Company's Senior Notes due 2021 at maturity.

United States Trade Accounts Receivable Credit Facility

The Company amended and restated its U.S. receivables financing facility (the “U.S. Receivables Facility”) when Greif Receivables Funding LLC (“Greif Funding”), Greif Packaging LLC (“Greif Packaging”), for itself and as servicer, and certain other U.S. subsidiaries of the Company entered into a Third Amended and Restated Transfer and Administration Agreement, dated as of September 24, 2019 (the “Third Amended TAA”), with Bank of America, N.A. (“BANA”), as the agent, managing agent, administrator and committed investor, and various investor groups, managing agents, and administrators, from time to time parties thereto. As of April 30, 2021, there was $250.0 million outstanding balance under the U.S. Receivables Facility. On May 26, 2021, the Third Amended TAA was amended to increase the U.S. Receivables Facility to $275.0 million, with a new maturity date of May 26, 2022.

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

International Trade Accounts Receivable Credit Facility

On April 15, 2021, Cooperage Receivables Finance B.V. and Greif Coordination Center BVBA, an indirect wholly owned subsidiary of Greif, Inc., amended and restated the Nieuw Amsterdam Receivables Financing Agreement (the "European RFA") with affiliates of a major international bank. The amended and restated European RFA will mature July 26, 2021. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($121.2 million as of April 30, 2021) secured by certain European accounts receivable. The $106.1 million outstanding on the European RFA as of April 30, 2021 is reported as "Long-term debt" on the interim condensed consolidated balance sheets because the Company intends to refinance these obligations on a long-term basis and has the intent and ability to consummate a long-term refinancing by exercising the renewal option in the respective agreement or entering into new financing arrangements.

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

6 Months Ended

Apr. 30, 2021

Fair Value Disclosures [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Recurring Fair Value Measurements

The following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 2021 and October 31, 2020:


	April 30, 2021
	Fair Value Measurement
(in millions)	Level 1		Level 2		Level 3		Total		Balance Sheet Location
Interest rate derivatives	$	—	$	8.1	$	—	$	8.1	Other long-term assets
Interest rate derivatives	—		(27.0)		—		(27.0)		Other current liabilities and other long-term liabilities
Foreign exchange hedges	—		0.4		—		0.4		Other current assets
Foreign exchange hedges	—		(1.6)		—		(1.6)		Other current liabilities
Insurance annuity	—		—		22.1		22.1		Other long-term assets
Cross currency swap	—		5.1		—		5.1		Other current assets and other long-term assets

Total	$	—	$	(15.0)	$	22.1	$	7.1


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

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

Total	$	—	$	(29.1)	$	21.4	$	(7.7)

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of April 30, 2021 and October 31, 2020 approximate their fair values because of the short-term nature of these items and are not included in this table.

Interest Rate Derivatives

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

In 2020, the Company entered into four forward starting interest rate swaps with a total notional amount of $200.0 million effective July 15, 2021, maturing on July 15, 2029. The Company receives variable rate interest payments based upon one-month U.S. dollar LIBOR, and in return the Company is obligated to pay interest at a weighted-average interest rate of 0.90% plus a spread. This effectively converted the borrowing rate on an amount of debt equal to the outstanding notional amount of the interest rate swap from a variable rate to a fixed rate.

In 2019, the Company entered into six interest rate swaps with a total notional amount of $1,300.0 million that amortize to $200.0 million over a five-year term, maturing on March 11, 2024. The outstanding notional amount as of April 30, 2021 is $600.0 million. The Company receives variable rate interest payments based upon one-month U.S. dollar LIBOR, and in return the Company is obligated to pay interest at a weighted-average interest rate of 2.49% plus a spread. This effectively converted the borrowing rate on an amount of debt equal to the outstanding notional amount of the interest rate swap from a variable rate to a fixed rate.

In 2017, the Company entered into an interest rate swap with a notional amount of $300.0 million, maturing on February 1, 2022. The Company receives variable rate interest payments based upon one-month U.S. dollar LIBOR, and in return the Company is obligated to pay interest at a fixed rate of 1.19% plus a spread. This effectively converted the borrowing rate on an amount of debt equal to the outstanding notional amount of the interest rate swap from a variable rate to a fixed rate.

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 transactions and in the same period during which the hedged transactions affect earnings. See Note 11 to the Interim Condensed Consolidated Financial Statements for additional information. The assumptions used in measuring fair value of these interest rate derivatives are considered level 2 inputs, which are based upon observable market rates, including LIBOR and interest paid based upon a designated fixed rate over the life of the swap agreements.

Losses reclassified to earnings under these contracts were $4.3 million and $3.2 million for the three months ended April 30, 2021, and 2020, respectively. Losses reclassified to earnings under these contracts were $8.7 million and $4.7 million for the six months ended April 30, 2021, and 2020, respectively. A derivative loss of $16.5 million, based upon interest rates at April 30, 2021, is expected to be reclassified from accumulated other comprehensive income (loss) to earnings in the next twelve months.

Foreign Exchange Hedges

The Company conducts business in various international currencies and is subject to risks associated with changing foreign exchange rates. The Company’s objective is to reduce volatility associated with foreign exchange rate changes. Accordingly, the Company enters into various contracts that change in value as foreign exchange rates change to protect the value of certain existing foreign currency assets and liabilities, commitments and anticipated foreign currency cash flows. As of April 30, 2021, and October 31, 2020, the Company had outstanding foreign currency forward contracts in the notional amount of $134.6

million and $268.6 million, respectively. 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 are based on observable market pricing for similar instruments, principally foreign exchange futures contracts.

For the three months ended April 30, 2021 and 2020, the Company recorded realized losses of $0.6 million and $1.4 million, respectively, under fair value contracts in other expense, net. For the six months ended April 30, 2021 and 2020, the Company recorded realized gains of $1.3 million and realized losses of $2.2 million, respectively, under fair value contracts in other expense, net. During the three months ended April 30, 2021 and 2020, the Company recorded an unrealized net loss of $0.6 million and an unrealized net gain of $1.1 million, respectively, in other expense, net. During the six months ended April 30, 2021 and 2020, the Company recorded an unrealized net loss of $1.2 million and an unrealized net gain of $1.8 million, respectively, in other expense, net.

Cross Currency Swap

The Company has operations and investments in various international locations and is subject to risks associated with changing foreign exchange rates. On March 6, 2018, the Company entered into a cross currency interest rate swap agreement that synthetically swaps $100.0 million of fixed rate debt to Euro denominated fixed rate debt at a rate of 2.35%. The agreement is designated as a net investment hedge for accounting purposes and will mature on March 6, 2023. Accordingly, the gain or loss on this derivative instrument is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted or liquidated. Interest payments received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the interim condensed consolidated statements of income. For the three months ended April 30, 2021 and 2020, gains recorded in interest expense, net under the cross currency swap agreement were $0.6 million and $0.6 million, respectively. For the three months ended April 30, 2021 and 2020, gains recorded in interest expense, net under the cross currency swap agreement were $1.2 million and $1.2 million, respectively. The assumptions used in measuring fair value of the cross currency swap are considered level 2 inputs, which are based upon the Euro to United States Dollar exchange rate market.

Other Financial Instruments

The fair values of the Company’s 2019 Credit Agreement and the U.S. Receivables Facility and European RFA (the latter two facilities, collectively, "Accounts Receivable Credit Facilities") do not materially differ from carrying value as the Company’s cost of borrowing is variable and approximates current borrowing rates. The fair values of the Company’s long-term obligations are estimated based on either the quoted market prices for the same or similar issues or the current interest rates offered for the debt of the same remaining maturities, which are considered level 2 inputs in accordance with Accounting Standard Codification ("ASC") Topic 820, "Fair Value Measurements and Disclosures."

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


(in millions)	April 30, 2021		October 31, 2020
Senior Notes due 2021 estimated fair value	$	245.8	$	242.0
Senior Notes due 2027 estimated fair value	526.9		524.4
Assets held by special purpose entities estimated fair value	—		50.9

STOCK-BASED COMPENSATION	6 Months Ended
STOCK-BASED COMPENSATION	Apr. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Long-Term Incentive Plan The Company's 2020 Long-Term Incentive Plan (the "2020 LTIP") is intended to focus management on the key measures that drive superior performance over the longer term. The 2020 LTIP provides key employees with incentive compensation based upon consecutive and overlapping three-year performance periods that commence at the start of every year. For each three-year performance period, the performance goals are based on performance criteria as determined by the Special Subcommittee of the Compensation Committee of the Company’s Board of Directors (the “Special Subcommittee”). For each three-year performance period commencing at the beginning of the year, participants may be granted restricted stock units (“RSUs”) or performance stock units (“PSUs”) or a combination of both. The Company may grant RSUs based on a three-year vesting period on the basis of service only. The RSUs are an equity-classified plan measured at fair value on the grant date recognized ratably over the service period. Dividend-equivalent rights may be granted in connection with an RSU award and are recognized in conjunction with the Company's dividend issuance and settled upon vesting of the award. The Company granted 139,360 RSUs after plan approval on December 17, 2020, for the service period commencing on November 1, 2020 and ending October 31, 2023. The weighted average fair value of the RSUs granted on that date was $48.50. Under the 2020 LTIP, the Company may grant PSUs for a three-year performance period based upon service, performance criteria and market conditions. The performance criteria are based on targeted levels of earnings before interest, taxes, depreciation, depletion and amortization and total shareholder return as determined by the Special Subcommittee. The PSUs are a liability-classified plan wherein the fair value of the PSUs awarded is determined at each reporting period using a Monte Carlo simulation. A Monte Carlo simulation uses assumptions including the risk-free interest rate, expected volatility of the Company’s stock price and expected life of the awards to determine a fair value of the market condition throughout the vesting period. The Company granted 253,102 PSUs after plan approval on December 17, 2020, for the performance period commencing on November 1, 2020 and ending October 31, 2023. If earned, the PSUs are to be awarded in shares of Class A Common Stock. The weighted average fair value of the PSUs granted on that date was $47.26. The weighted average fair value of the PSUs at April 30, 2021 was $61.67.

INCOME TAXES	6 Months Ended
INCOME TAXES	Apr. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESIncome tax expense for the quarter was computed in accordance with ASC 740-270 "Income Taxes - Interim Reporting." Under this method, losses from jurisdictions for which a valuation allowance has been provided have not been included in the amount to which the ASC 740-270 rate was applied. Income tax expense of the Company may fluctuate due to changes in estimated losses and income from jurisdictions for which a valuation allowance has been provided, the timing of recognition of the related tax expense under ASC 740-270, and the impact of discrete items in the respective quarter.For the six months ended April 30, 2021 and April 30, 2020, income tax expense was $23.4 million and $37.9 million, respectively. The decrease in income tax expense for the six months ended April 30, 2021 was attributable to changes in the expected mix of earnings among tax jurisdictions, including jurisdictions for which valuation allowances have been recorded, as well as the timing of recognition of the related tax expense under ASC 740-270, and net favorable discrete items of $7.5 million. The net favorable discrete adjustments primarily consist of return to provision adjustments and releases as a result of settlement of U.S Federal and Canadian income tax audits. A deferred tax asset related to capital losses was recorded during the quarter which is expected to offset the capital gain resulting from the sale of 69,200 acres of timberland located in southwest Alabama, and a valuation allowance has been recorded to the extent the capital losses exceed capital gains. See Note 13 to the Interim Condensed Consolidated Financial Statements for additional information on the sale of timberland. Changes in judgement and lapses of statute of limitations for uncertain tax positions caused an increase to tax compared to first quarter of 2020.

- Definition

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

+ References + Details

POST RETIREMENT BENEFIT PLANS

6 Months Ended

Apr. 30, 2021

Postemployment Benefits [Abstract]

POST RETIREMENT BENEFIT PLANS

During the six months ended April 30, 2021, an annuity contract for approximately $100.0 million was purchased with United States defined benefit plan assets and the pension obligation for certain retirees in the United States under that plan was irrevocably transferred from that plan to the annuity contract. Additionally, lump sum payments totaling $6.0 million and $7.5 million for the three and six months ended April 30, 2021 were made from the defined benefit plan assets to certain participants who agreed to such payments, representing the current fair value of the participant’s respective pension benefit. The settlement items described above resulted in a decrease in the fair value of both the plan assets and the projected benefit obligation of $107.5 million and a non-cash pension settlement charges of $0.1 million and $8.6 million of unrecognized net actuarial loss included in accumulated other comprehensive loss for the three and six months ended April 30, 2021.

As a result of the settlements described above, the Company remeasured the United States defined benefit pension plan as of April 30, 2021. After the April 30, 2021 remeasurement, the net funded status of the plan is an overfunded position of $9.6 million. The discount rate used was 3.21% as of April 30, 2021 as compared to 3.01% as of October 31, 2020.

The components of net periodic pension cost include the following:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Service cost	$	3.1	$	2.8	$	6.2	$	6.0
Interest cost	4.6		5.6		9.1		12.2
Expected return on plan assets	(8.1)		(7.9)		(16.0)		(18.2)
Amortization of prior service cost	(0.1)		2.9		(0.1)		6.4
Recognized net actuarial loss	3.7		—		7.5		—
Net periodic pension cost	$	3.2	$	3.4	$	6.7	$	6.4

The Company expects to make employer contributions of $21.7 million, including benefits paid directly by the Company, during 2021.

The components of net periodic pension cost and net periodic post-retirement benefit, other than the service cost components, are included in the line item "Other expense, net" in the interim condensed consolidated statements of income.

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	6 Months Ended
CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	Apr. 30, 2021
Environmental Remediation Obligations [Abstract]
CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES Litigation-related Liabilities The Company may become involved from time-to-time in litigation and regulatory matters incidental to its business, including governmental investigations, enforcement actions, personal injury claims, product liability, employment health and safety matters, commercial disputes, intellectual property matters, disputes regarding environmental clean-up costs, litigation in connection with acquisitions and divestitures, and other matters arising out of the normal conduct of its business. The Company intends to vigorously defend itself in such litigation. The Company does not believe that the outcome of any pending litigation will have a material adverse effect on its interim condensed consolidated financial statements. The Company may accrue for contingencies related to litigation and regulatory matters if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about future events. The Company regularly reviews contingencies to determine whether its accruals are adequate. The amount of ultimate loss may differ from these estimates. Since 2017, two reconditioning facilities in the Milwaukee, Wisconsin area that are owned by Container Life Cycle Management LLC ("CLCM"), the Company’s U.S. reconditioning joint venture company, have been subject to investigations conducted by federal, state and local governmental agencies concerning, among other matters, potential violations of environmental laws and regulations. As a result of these investigations, the United States Environmental Protection Agency (“U.S. EPA”) and the Wisconsin Department of Natural Resources (“WDNR”) have issued notices of violations to the Company and CLCM regarding violations of certain federal and state environmental laws and regulations. The remedies being sought in these proceedings include compliance with the applicable environmental laws and regulations as being interpreted by the U.S. EPA and WDNR and monetary sanctions. The Company has cooperated with the governmental agencies in these investigations and proceedings. As of June 9, 2021, no material citations have been issued or material fines assessed with respect to any violation of environmental laws and regulations. Since these proceedings remain in their investigative stage, the Company is unable to predict the outcome of these proceedings or estimate a range of reasonable possible monetary sanctions or costs associated with any remedial actions that may be required or requested by the U.S. EPA or WDNR. In addition, on November 8, 2017, the Company, CLCM and other parties were named as defendants in a punitive class action lawsuit filed in Wisconsin state court concerning one of CLCM’s Milwaukee reconditioning facilities. The plaintiffs are alleging that odors from this facility have invaded their property and are interfering with the use and enjoyment of their property and causing damage to the value of their property. Plaintiffs are seeking compensatory and punitive damages, along with their legal fees. The Company and CLCM are vigorously defending themselves in this lawsuit. The Company is unable to predict the outcome of this lawsuit or estimate a range of reasonably possible losses. Environmental Reserves As of April 30, 2021, and October 31, 2020, the Company's environmental reserves were $19.5 million and $20.2 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. As of April 30, 2021 and October 31, 2020, the Company has accrued $11.1 million for the Diamond Alkali Superfund Site in New Jersey. It is possible that there could be resolution of uncertainties in the future that would require the Company to record charges that could be material to future earnings. Aside from the Diamond Alkali Superfund Site, other environmental reserves of the Company as of April 30, 2021 and October 31, 2020 included $8.4 million and $9.1 million, respectively, for its various facilities around the world. The Company’s exposure to adverse developments with respect to any individual site is not expected to be material. Although environmental remediation could have a material effect on results of operations if a series of adverse developments occur in a particular quarter or year, the Company believes that the chance of a series of adverse developments occurring in the same quarter or year is remote. Future information and developments will require the Company to continually reassess the expected impact of these environmental matters.

EARNINGS PER SHARE

6 Months Ended

Apr. 30, 2021

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:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$	149.8	$	11.4	$	173.2	$	43.7
Cash dividends	(26.3)		(26.1)		(52.2)		(52.0)
Undistributed earnings attributable to Greif, Inc.	$	123.5	$	(14.7)	$	121.0	$	(8.3)

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

Common Stock Repurchases

The Board of Directors has authorized the Company to repurchase shares of the Company's Class A Common Stock or Class B Common Stock or any combination of the foregoing. As of April 30, 2021, the remaining amount of shares that may be repurchased under this authorization was 4,703,487. There were no shares repurchased during the first six months of 2021 or fiscal year 2020.

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


	Authorized Shares	Issued Shares	Outstanding Shares	Treasury Shares
April 30, 2021
Class A Common Stock	128,000,000	42,281,920	26,550,924	15,730,996
Class B Common Stock	69,120,000	34,560,000	22,007,725	12,552,275

October 31, 2020
Class A Common Stock	128,000,000	42,281,920	26,441,986	15,839,934
Class B Common Stock	69,120,000	34,560,000	22,007,725	12,552,275

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


	Three Months Ended April 30,		Six Months Ended April 30,
	2021	2020	2021	2020
Class A Common Stock:
Basic shares	26,544,197	26,386,439	26,500,134	26,323,691
Assumed conversion of restricted shares	120,050	—	102,616	—
Diluted shares	26,664,247	26,386,439	26,602,750	26,323,691
Class B Common Stock:
Basic and diluted shares	22,007,725	22,007,725	22,007,725	22,007,725

LEASES

6 Months Ended

Apr. 30, 2021

Leases [Abstract]

LEASES

The Company leases certain buildings, warehouses, land, transportation equipment, operating equipment, and office equipment with remaining lease terms from less than one year up to 21 years. The Company reviews all options to extend, terminate, or purchase a right of use asset at the time of lease inception and accounts for options deemed reasonably certain.

The Company combines lease and non-lease components for all leases, except real estate, for which these components are presented separately. Leases with an initial term of twelve months or less are not capitalized and are recognized on a straight-line basis over the lease term. The implicit rate is not readily determinable for substantially all of the Company's leases, and 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 April 30, 2021, the Company does not have material exposure to finance leases and has not entered into any significant leases which have not yet commenced.

The following table presents the lease expense components for the three and six months ended April 30, 2021 and 2020:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Operating lease cost	$	17.2	$	15.6	$	34.5	$	32.8
Other lease cost*	7.0		8.1		12.7		14.5
Total lease cost	$	24.2	$	23.7	$	47.2	$	47.3

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

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


(in millions)	April 30, 2021
2021	$	67.3
2022	59.9
2023	51.3
2024	42.3
2025	38.0
Thereafter	143.4
Total lease payments	$	402.2
Less: Interest	(100.0)
Lease liabilities	$	302.2

The following table presents the weighted-average lease term and discount rate as of April 30, 2021 and 2020:


	April 30, 2021		April 30, 2020
Weighted-average remaining lease term (years) for operating lease liabilities	10.7		11.4
Weighted-average discount rate for operating lease liabilities	3.66	%	3.81	%

The following table presents other required lease related information for the three and six months ended April 30, 2021 and 2020:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Operating cash flows used for operating liabilities	$	17.2	$	18.2	$	34.6	$	35.3
Leased assets obtained in exchange for new operating lease liabilities	11.7		34.3		13.6		63.1

COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Apr. 30, 2021

Equity [Abstract]

COMPREHENSIVE INCOME (LOSS)

The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2021:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2020	$	(294.9)	$	(24.7)	$	(107.9)	$	(427.5)
Other Comprehensive Income	33.6		11.4		47.1		92.1
Balance as of April 30, 2021	$	(261.3)	$	(13.3)	$	(60.8)	$	(335.4)

The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2020:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2019	$	(298.0)	$	(12.7)	$	(123.0)	$	(433.7)
Other Comprehensive Income (Loss)	(49.8)		(22.9)		23.0		(49.7)
Balance as of April 30, 2020	$	(347.8)	$	(35.6)	$	(100.0)	$	(483.4)

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

BUSINESS SEGMENT INFORMATION

6 Months Ended

Apr. 30, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENT INFORMATION

The Company has made changes to the operational and financial management practices and procedures of the Rigid Industrial Packaging & Services and Flexible Products & Services segments and combined the two segments under a single global leadership team. These changes were made to enhance cross-selling and service offerings to customers within similar markets and enhance Greif Business System effectiveness. As a result of these changes, during the first quarter of 2021, the Rigid Industrial Packaging & Services reportable segment and the Flexible Products & Services reportable segment have been combined into a single reportable segment known as Global Industrial Packaging. On February 24, 2021, the Company filed a Current Report on Form 8-K with the SEC to furnish certain historical GAAP and non-GAAP financial information in a revised presentation aligned with the Company's new reportable segment structure described above.

The Company’s reportable business segments offer different products and services and consist of six operating segments. The accounting policies of the reportable business segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2020 Form 10-K.

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2021:


	Three Months Ended April 30, 2021
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	250.3	$	410.5	$	137.2	$	798.0
Paper Packaging & Services	528.4		—		8.6		537.0
Land Management	5.6		—		—		5.6
Total net sales	$	784.3	$	410.5	$	145.8	$	1,340.6

	Six Months Ended April 30, 2021
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	453.1	$	741.0	$	263.2	$	1,457.3
Paper Packaging & Services	1,001.9		—		16.0		1,017.9
Land Management	11.9		—		—		11.9
Total net sales	$	1,466.9	$	741.0	$	279.2	$	2,487.1

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2020:


	Three Months Ended April 30, 2020
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	226.5	$	336.2	$	107.3	$	670.0
Paper Packaging & Services	475.1		—		6.5		481.6
Land Management	6.7		—		—		6.7
Total net sales	$	708.3	$	336.2	$	113.8	$	1,158.3

	Six Months Ended April 30, 2020
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	435.6	$	643.5	$	222.6	$	1,301.7
Paper Packaging & Services	942.9		—		12.4		955.3
Land Management	13.7		—		—		13.7
Total net sales	$	1,392.2	$	643.5	$	235.0	$	2,270.7

The following segment information is presented for the periods indicated:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Operating profit (loss):
Global Industrial Packaging	$	76.4	$	75.1	$	130.4	$	119.9
Paper Packaging & Services	27.3		(5.5)		41.6		27.0
Land Management	96.9		2.4		98.6		4.3
Total operating profit	$	200.6	$	72.0	$	270.6	$	151.2

Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	21.2	$	21.5	$	42.2	$	42.6
Paper Packaging & Services	36.9		38.8		74.1		78.0
Land Management	0.7		0.9		1.8		1.9
Total depreciation, depletion and amortization expense	$	58.8	$	61.2	$	118.1	$	122.5

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


(in millions)	April 30, 2021		October 31, 2020
Assets:
Global Industrial Packaging	$	2,561.7	$	2,338.5
Paper Packaging & Services	2,470.2		2,524.3
Land Management	247.8		348.6
Total segments	5,279.7		5,211.4
Corporate and other	308.2		299.5
Total assets	$	5,587.9	$	5,510.9

Long lived assets, net*:
United States	$	1,309.3	$	1,345.8
Europe, Middle East and Africa	372.9		377.6
Asia Pacific and other Americas	116.6		111.0
Total long-lived assets, net	$	1,798.8	$	1,834.4
*includes impact of capitalization of operating lease assets

- Definition

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

+ References

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+ Details

DISPOSALS OF TIMBERLAND	6 Months Ended
DISPOSALS OF TIMBERLAND	Apr. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
DISPOSALS OF TIMBERLAND	DISPOSALS OF TIMBERLANDOn February 24, 2021, the Company entered into an agreement to sell approximately 69,200 acres of its Alabama timberland properties to Weyerhaeuser Company. The transaction closed during the second quarter for approximately $145.1 million in cash, after deducting $4.3 million in closing costs. Cash proceeds were applied toward debt repayment. As a result of the sale of the Alabama timberland properties, the Company recorded a gain of $95.7 million.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Apr. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions to Quarterly Reports on Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates. The fiscal year of Greif, Inc. and its subsidiaries (the “Company”) 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. The information filed herein reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated balance sheets as of April 30, 2021 and October 31, 2020, the interim condensed consolidated statements of income, comprehensive income and changes in shareholders' equity for the three and six months ended April 30, 2021 and 2020 and the interim condensed consolidated statements of cash flows for the six months ended April 30, 2021 and 2020 of the Company. The interim condensed consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and consolidated subsidiaries and investments in limited liability companies, partnerships and joint ventures in which it has controlling influence or is the primary beneficiary. Non-majority owned entities include investments in limited liability companies, partnerships and joint ventures in which the Company does not have controlling influence and are accounted for using either the equity or cost method, as appropriate. The unaudited interim condensed consolidated financial statements included in the Quarterly Report on Form 10-Q (this “Form 10-Q”) should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended October 31, 2020 (the “2020 Form 10-K”). Effective the first quarter 2021, the Company adjusted its reportable segments. The presentation of prior periods throughout Part I Item 1 of this Form 10-Q has been modified to reflect the new segment reporting structure. See Note 12 to the Interim Condensed Consolidated Financial Statements for additional information.
Newly Adopted Accounting Standards and Recently Issued Accounting Standards	Newly Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, “Financial Instruments – Credit Losses.” This ASU sets forth a current expected credit loss model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonably supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU was effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. The Company adopted this ASU on November 1, 2020. The adoption of this guidance did not have a material impact on financial position, results of operations, comprehensive income, cash flows or disclosures. Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes", which is intended to simplify accounting for income taxes. This ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, with early adoption permitted. The effective date for the Company to adopt this ASU is November 1, 2021. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

RESTRUCTURING CHARGES (Tables)

6 Months Ended

Apr. 30, 2021

Restructuring and Related Activities [Abstract]

Reconciliation of Beginning and Ending Restructuring Reserve Balances

The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2021:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at October 31, 2020	$	17.9	$	3.7	$	21.6
Costs incurred and charged to expense	10.6		4.5		15.1
Costs paid or otherwise settled	(9.3)		(5.8)		(15.1)
Balance at April 30, 2021	$	19.2	$	2.4	$	21.6

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-Q. Remaining amounts expected to be incurred were $19.4 million as of April 30, 2021:


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the six months ended April 30, 2021		Amounts Remaining to be Incurred
Global Industrial Packaging
Employee separation costs	$	18.4	$	10.5	$	7.9
Other restructuring costs	7.9		2.4		5.5
	26.3		12.9		13.4
Paper Packaging & Services

Other restructuring costs	8.1		2.1		6.0
	8.1		2.1		6.0
Land Management
Employee separation costs	0.1		0.1		—

	0.1		0.1		—
	$	34.5	$	15.1	$	19.4

LONG-TERM DEBT (Tables)

6 Months Ended

Apr. 30, 2021

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Long-term debt is summarized as follows:


(in millions)	April 30, 2021		October 31, 2020
2019 Credit Agreement - Term Loans	$	1,132.4	$	1,429.8
Senior Notes due 2027	495.6		495.1
Senior Notes due 2021	242.3		234.8
Accounts receivable credit facilities	356.1		310.0
2019 Credit Agreement - Revolving Credit Facility	53.9		—

	2,280.3		2,469.7
Less: current portion	114.1		123.1
Less: deferred financing costs	11.6		11.1
Long-term debt, net	$	2,154.6	$	2,335.5

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Apr. 30, 2021

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements

The following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 2021 and October 31, 2020:


	April 30, 2021
	Fair Value Measurement
(in millions)	Level 1		Level 2		Level 3		Total		Balance Sheet Location
Interest rate derivatives	$	—	$	8.1	$	—	$	8.1	Other long-term assets
Interest rate derivatives	—		(27.0)		—		(27.0)		Other current liabilities and other long-term liabilities
Foreign exchange hedges	—		0.4		—		0.4		Other current assets
Foreign exchange hedges	—		(1.6)		—		(1.6)		Other current liabilities
Insurance annuity	—		—		22.1		22.1		Other long-term assets
Cross currency swap	—		5.1		—		5.1		Other current assets and other long-term assets

Total	$	—	$	(15.0)	$	22.1	$	7.1


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

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

Total	$	—	$	(29.1)	$	21.4	$	(7.7)

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

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


(in millions)	April 30, 2021		October 31, 2020
Senior Notes due 2021 estimated fair value	$	245.8	$	242.0
Senior Notes due 2027 estimated fair value	526.9		524.4
Assets held by special purpose entities estimated fair value	—		50.9

POST RETIREMENT BENEFIT PLANS (Tables)

6 Months Ended

Apr. 30, 2021

Postemployment Benefits [Abstract]

Components of Net Periodic Pension Cost

The components of net periodic pension cost include the following:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Service cost	$	3.1	$	2.8	$	6.2	$	6.0
Interest cost	4.6		5.6		9.1		12.2
Expected return on plan assets	(8.1)		(7.9)		(16.0)		(18.2)
Amortization of prior service cost	(0.1)		2.9		(0.1)		6.4
Recognized net actuarial loss	3.7		—		7.5		—
Net periodic pension cost	$	3.2	$	3.4	$	6.7	$	6.4

EARNINGS PER SHARE (Tables)

6 Months Ended

Apr. 30, 2021

Earnings Per Share [Abstract]

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

Computation of Earnings Per Share Basic and Diluted

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


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$	149.8	$	11.4	$	173.2	$	43.7
Cash dividends	(26.3)		(26.1)		(52.2)		(52.0)
Undistributed earnings attributable to Greif, Inc.	$	123.5	$	(14.7)	$	121.0	$	(8.3)

Summarization 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 as of the specified dates:


	Authorized Shares	Issued Shares	Outstanding Shares	Treasury Shares
April 30, 2021
Class A Common Stock	128,000,000	42,281,920	26,550,924	15,730,996
Class B Common Stock	69,120,000	34,560,000	22,007,725	12,552,275

October 31, 2020
Class A Common Stock	128,000,000	42,281,920	26,441,986	15,839,934
Class B Common Stock	69,120,000	34,560,000	22,007,725	12,552,275

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:


	Three Months Ended April 30,		Six Months Ended April 30,
	2021	2020	2021	2020
Class A Common Stock:
Basic shares	26,544,197	26,386,439	26,500,134	26,323,691
Assumed conversion of restricted shares	120,050	—	102,616	—
Diluted shares	26,664,247	26,386,439	26,602,750	26,323,691
Class B Common Stock:
Basic and diluted shares	22,007,725	22,007,725	22,007,725	22,007,725

- Definition

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

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+ Details

LEASES (Tables)

6 Months Ended

Apr. 30, 2021

Leases [Abstract]

Components of Lease Expense

The following table presents the lease expense components for the three and six months ended April 30, 2021 and 2020:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Operating lease cost	$	17.2	$	15.6	$	34.5	$	32.8
Other lease cost*	7.0		8.1		12.7		14.5
Total lease cost	$	24.2	$	23.7	$	47.2	$	47.3

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

The following table presents other required lease related information for the three and six months ended April 30, 2021 and 2020:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Operating cash flows used for operating liabilities	$	17.2	$	18.2	$	34.6	$	35.3
Leased assets obtained in exchange for new operating lease liabilities	11.7		34.3		13.6		63.1

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)	April 30, 2021
2021	$	67.3
2022	59.9
2023	51.3
2024	42.3
2025	38.0
Thereafter	143.4
Total lease payments	$	402.2
Less: Interest	(100.0)
Lease liabilities	$	302.2

Schedule of Weighted-Average Lease Term and Discount Rate

The following table presents the weighted-average lease term and discount rate as of April 30, 2021 and 2020:


	April 30, 2021		April 30, 2020
Weighted-average remaining lease term (years) for operating lease liabilities	10.7		11.4
Weighted-average discount rate for operating lease liabilities	3.66	%	3.81	%

COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Apr. 30, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2021:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2020	$	(294.9)	$	(24.7)	$	(107.9)	$	(427.5)
Other Comprehensive Income	33.6		11.4		47.1		92.1
Balance as of April 30, 2021	$	(261.3)	$	(13.3)	$	(60.8)	$	(335.4)

The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2020:


(in millions)	Foreign Currency Translation		Derivative Financial Instruments		Minimum Pension Liability Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2019	$	(298.0)	$	(12.7)	$	(123.0)	$	(433.7)
Other Comprehensive Income (Loss)	(49.8)		(22.9)		23.0		(49.7)
Balance as of April 30, 2020	$	(347.8)	$	(35.6)	$	(100.0)	$	(483.4)

BUSINESS SEGMENT INFORMATION (Tables)

6 Months Ended

Apr. 30, 2021

Segment Reporting [Abstract]

Revenue from External Customers by Geographic Areas

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2021:


	Three Months Ended April 30, 2021
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	250.3	$	410.5	$	137.2	$	798.0
Paper Packaging & Services	528.4		—		8.6		537.0
Land Management	5.6		—		—		5.6
Total net sales	$	784.3	$	410.5	$	145.8	$	1,340.6

	Six Months Ended April 30, 2021
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	453.1	$	741.0	$	263.2	$	1,457.3
Paper Packaging & Services	1,001.9		—		16.0		1,017.9
Land Management	11.9		—		—		11.9
Total net sales	$	1,466.9	$	741.0	$	279.2	$	2,487.1

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2020:


	Three Months Ended April 30, 2020
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	226.5	$	336.2	$	107.3	$	670.0
Paper Packaging & Services	475.1		—		6.5		481.6
Land Management	6.7		—		—		6.7
Total net sales	$	708.3	$	336.2	$	113.8	$	1,158.3

	Six Months Ended April 30, 2020
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Global Industrial Packaging	$	435.6	$	643.5	$	222.6	$	1,301.7
Paper Packaging & Services	942.9		—		12.4		955.3
Land Management	13.7		—		—		13.7
Total net sales	$	1,392.2	$	643.5	$	235.0	$	2,270.7

Segment Information

The following segment information is presented for the periods indicated:


	Three Months Ended April 30,				Six Months Ended April 30,
(in millions)	2021		2020		2021		2020
Operating profit (loss):
Global Industrial Packaging	$	76.4	$	75.1	$	130.4	$	119.9
Paper Packaging & Services	27.3		(5.5)		41.6		27.0
Land Management	96.9		2.4		98.6		4.3
Total operating profit	$	200.6	$	72.0	$	270.6	$	151.2

Depreciation, depletion and amortization expense:
Global Industrial Packaging	$	21.2	$	21.5	$	42.2	$	42.6
Paper Packaging & Services	36.9		38.8		74.1		78.0
Land Management	0.7		0.9		1.8		1.9
Total depreciation, depletion and amortization expense	$	58.8	$	61.2	$	118.1	$	122.5

Properties, Plants and Equipment, Net by Geographical Area

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


(in millions)	April 30, 2021		October 31, 2020
Assets:
Global Industrial Packaging	$	2,561.7	$	2,338.5
Paper Packaging & Services	2,470.2		2,524.3
Land Management	247.8		348.6
Total segments	5,279.7		5,211.4
Corporate and other	308.2		299.5
Total assets	$	5,587.9	$	5,510.9

Long lived assets, net*:
United States	$	1,309.3	$	1,345.8
Europe, Middle East and Africa	372.9		377.6
Asia Pacific and other Americas	116.6		111.0
Total long-lived assets, net	$	1,798.8	$	1,834.4
*includes impact of capitalization of operating lease assets

RESTRUCTURING CHARGES - Reconciliation of Beginning and Ending Restructuring Reserve Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 21.6
Costs incurred and charged to expense	$ 12.0	$ 4.4	15.1	$ 7.7
Costs paid or otherwise settled			(15.1)
Restructuring reserve, ending balance	21.6		21.6
Employee Separation Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			17.9
Costs incurred and charged to expense	9.1		10.6
Costs paid or otherwise settled			(9.3)
Restructuring reserve, ending balance	19.2		19.2
Other Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			3.7
Costs incurred and charged to expense	2.9		4.5
Costs paid or otherwise settled			(5.8)
Restructuring reserve, ending balance	$ 2.4		$ 2.4

RESTRUCTURING CHARGES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Restructuring and Related Costs [Line Items]
Restructuring charges	$ 12.0	$ 4.4	$ 15.1	$ 7.7
Amounts remaining to be incurred	19.4		19.4
Employee Separation Costs
Restructuring and Related Costs [Line Items]
Restructuring charges	9.1		10.6
Other restructuring costs
Restructuring and Related Costs [Line Items]
Restructuring charges	$ 2.9		$ 4.5

RESTRUCTURING CHARGES - Amounts Expected to be Incurred, Amounts Incurred, and Amounts Remaining to Be Incurred (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	$ 34.5		$ 34.5
Amounts Incurred During the six months ended April 30, 2021	12.0	$ 4.4	15.1	$ 7.7
Amounts Remaining to be Incurred	19.4		19.4
Employee Separation Costs
Restructuring and Related Costs [Line Items]
Amounts Incurred During the six months ended April 30, 2021	9.1		10.6
Other restructuring costs
Restructuring and Related Costs [Line Items]
Amounts Incurred During the six months ended April 30, 2021	2.9		4.5
Global Industrial Packaging
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	26.3		26.3
Amounts Incurred During the six months ended April 30, 2021			12.9
Amounts Remaining to be Incurred	13.4		13.4
Global Industrial Packaging \| Employee Separation Costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	18.4		18.4
Amounts Incurred During the six months ended April 30, 2021			10.5
Amounts Remaining to be Incurred	7.9		7.9
Global Industrial Packaging \| Other restructuring costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	7.9		7.9
Amounts Incurred During the six months ended April 30, 2021			2.4
Amounts Remaining to be Incurred	5.5		5.5
Paper Packaging & Services
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	8.1		8.1
Amounts Incurred During the six months ended April 30, 2021			2.1
Amounts Remaining to be Incurred	6.0		6.0
Paper Packaging & Services \| Other restructuring costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	8.1		8.1
Amounts Incurred During the six months ended April 30, 2021			2.1
Amounts Remaining to be Incurred	6.0		6.0
Land Management
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	0.1		0.1
Amounts Incurred During the six months ended April 30, 2021			0.1
Amounts Remaining to be Incurred	0.0		0.0
Land Management \| Employee Separation Costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	0.1		0.1
Amounts Incurred During the six months ended April 30, 2021			0.1
Amounts Remaining to be Incurred	$ 0.0		$ 0.0

LONG-TERM DEBT - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Apr. 30, 2021	Oct. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 2,280.3	$ 2,469.7
Less: current portion	114.1	123.1
Less: deferred financing costs	11.6	11.1
Long-term debt, net	2,154.6	2,335.5
2019 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	1,186.3
Term Loan \| 2019 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	1,132.4	1,429.8
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt	356.1	310.0
Revolving Credit Facility \| 2019 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	53.9	0.0
Less: current portion	114.1
Long-term debt, net	1,072.2
Senior Notes \| Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt	495.6	495.1
Senior Notes \| Senior Notes due 2021
Debt Instrument [Line Items]
Long-term debt	$ 242.3	$ 234.8

LONG-TERM DEBT - Credit Agreement (Details) - USD ($)	Apr. 30, 2021	Nov. 13, 2020	Oct. 31, 2020	Feb. 11, 2019
Debt Instrument [Line Items]
Long-term debt	$ 2,280,300,000		$ 2,469,700,000
Current portion of long-term debt	114,100,000		123,100,000
Long-term debt, net	2,154,600,000		2,335,500,000
2019 Credit Agreement
Debt Instrument [Line Items]
Debt issued				$ 700,000,000.0
Long-term debt	1,186,300,000
Secured Term Loan A-1 Facility
Debt Instrument [Line Items]
Debt issued				1,275,000,000.0
Secured Term Loan A-2 Facility
Debt Instrument [Line Items]
Debt issued				400,000,000.0
Secured Term Loan A-3 Facility
Debt Instrument [Line Items]
Debt issued		$ 225,000,000.0
Revolving Credit Facility \| 2019 Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				800,000,000.0
Long-term debt	53,900,000		$ 0
Current portion of long-term debt	114,100,000
Long-term debt, net	$ 1,072,200,000
Weighted average interest rate	1.96%
Actual interest rate	1.90%
Debt issuance costs	$ 5,200,000
Revolving Credit Facility \| Multicurrency Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				600,000,000.0
Revolving Credit Facility \| U.S. Dollar Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 200,000,000.0
Term Loan \| 2019 Credit Agreement
Debt Instrument [Line Items]
Debt issuance costs	$ 9,500,000

LONG-TERM DEBT - Senior Notes (Details) - Senior Notes	Apr. 30, 2021 USD ($)	Feb. 11, 2019 USD ($)	Jul. 15, 2011 EUR (€)
Senior Notes due 2027
Debt Instrument [Line Items]
Debt issued		$ 500,000,000.0
Interest of senior notes		6.50%
Deferred financing cost	$ 2,100,000
Senior Notes due 2021
Debt Instrument [Line Items]
Debt issued \| €			€ 200,000,000.0
Interest of senior notes			7.375%

LONG-TERM DEBT - Trade Accounts Receivable Credit Facility (Details) € in Millions, $ in Millions	May 26, 2021 USD ($)	Apr. 30, 2021 USD ($)	Apr. 30, 2021 EUR (€)	Oct. 31, 2020 USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 2,280.3		$ 2,469.7
Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt		356.1		$ 310.0
European RPA
Debt Instrument [Line Items]
Financing receivable maximum amount under receivable purchase agreement		121.2	€ 100.0
United States Trade Accounts receivable credit facilities \| Subsequent Event
Debt Instrument [Line Items]
Increase in U.S. receivables facility	$ 275.0
United States Trade Accounts receivable credit facilities \| Domestic Line of Credit
Debt Instrument [Line Items]
Long-term debt		250.0
International Trade Accounts Receivable Credit Facilities \| European RPA \| Foreign Line of Credit
Debt Instrument [Line Items]
Long-term debt		$ 106.1

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Apr. 30, 2021	Oct. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	$ 7.1	$ (7.7)
Interest rate derivatives \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	8.1
Interest rate derivatives \| Other current liabilities and other long-term liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	(27.0)	(37.9)
Foreign exchange hedges \| Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.4	1.5
Foreign exchange hedges \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	(1.6)	(1.6)
Insurance annuity \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	22.1	21.4
Cross currency swap \| Other current assets and other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	5.1	8.9
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 1 \| Interest rate derivatives \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0
Level 1 \| Interest rate derivatives \| Other current liabilities and other long-term liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 1 \| Foreign exchange hedges \| Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 1 \| Foreign exchange hedges \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 1 \| Insurance annuity \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 1 \| Cross currency swap \| Other current assets and other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	(15.0)	(29.1)
Level 2 \| Interest rate derivatives \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	8.1
Level 2 \| Interest rate derivatives \| Other current liabilities and other long-term liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	(27.0)	(37.9)
Level 2 \| Foreign exchange hedges \| Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.4	1.5
Level 2 \| Foreign exchange hedges \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	(1.6)	(1.6)
Level 2 \| Insurance annuity \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 2 \| Cross currency swap \| Other current assets and other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	5.1	8.9
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	22.1	21.4
Level 3 \| Interest rate derivatives \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0
Level 3 \| Interest rate derivatives \| Other current liabilities and other long-term liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 3 \| Foreign exchange hedges \| Other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 3 \| Foreign exchange hedges \| Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	0.0	0.0
Level 3 \| Insurance annuity \| Other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	22.1	21.4
Level 3 \| Cross currency swap \| Other current assets and other long-term assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets (liabilities)	$ 0.0	$ 0.0

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)	Apr. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)	Oct. 31, 2019 USD ($) Derivative	Jul. 15, 2021 USD ($)	Oct. 31, 2020 USD ($) Derivative	Mar. 06, 2018 USD ($)	Oct. 31, 2017 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains (losses) recorded under fair value contracts	$ (600,000)	$ (1,400,000)	$ 1,300,000	$ (2,200,000)
Unrealized gain (loss) on foreign currency	(600,000)	1,100,000	(1,200,000)	1,800,000
Interest expense, net	26,700,000	29,300,000	51,900,000	60,000,000.0
Interest Rate Swap \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of interest rate derivatives held \| Derivative					6		4
Derivative, notional amount					$ 1,300,000,000.0
Derivative, future amortization amount					$ 200,000,000.0
Derivative, term of contract					5 years
Derivative outstanding notional amount	600,000,000.0		600,000,000.0
Debt issued									$ 300,000,000.0
Interest of senior notes									1.19%
Gain (Loss) reclassified from AOCI to income	(4,300,000)	(3,200,000)	(8,700,000)	(4,700,000)
Loss to be reclassified within next twelve months			16,500,000
Interest Rate Swap \| Cash Flow Hedging \| London Interbank Offered Rate (LIBOR)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Weighted average interest rate					2.49%
Interest Rate Swap \| Cash Flow Hedging \| Scenario, Forecast
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount						$ 200,000,000.0
Interest Rate Swap \| Cash Flow Hedging \| Scenario, Forecast \| London Interbank Offered Rate (LIBOR)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Weighted average interest rate						0.90%
Foreign Currency Forward Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	134,600,000		134,600,000				$ 268,600,000
Cross currency swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount								$ 100,000,000.0
Derivative, fixed interest rate								2.35%
Interest expense, net	$ 600,000	$ 600,000	$ 1,200,000	$ 1,200,000

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Estimated Fair Values for the Company's Senior Notes and Assets Held by Special Purpose Entities (Details) - Estimate of Fair Value Measurement - USD ($) $ in Millions	Apr. 30, 2021	Oct. 31, 2020
Estimated Fair Value Of Financial Instruments [Line Items]
Assets held by special purpose entities estimated fair value	$ 0.0	$ 50.9
Senior Notes due 2021
Estimated Fair Value Of Financial Instruments [Line Items]
Estimated fair value	245.8	242.0
Senior Notes due 2027
Estimated Fair Value Of Financial Instruments [Line Items]
Estimated fair value	$ 526.9	$ 524.4

STOCK-BASED COMPENSATION (Details) - 2020 LTIP - $ / shares		6 Months Ended	36 Months Ended
	Apr. 30, 2021	Apr. 30, 2021	Oct. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period on the basis of service only		3 years
RSUs \| Scenario, Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period on the basis of service only			3 years
Shares of restricted stock (shares)			139,360
Weighted average grant date fair value (usd per share)			$ 48.50
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (usd per share)	$ 61.67
PSUs \| Scenario, Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock (shares)			253,102
Weighted average grant date fair value (usd per share)			$ 47.26
Performance period based upon service, performance criteria and market conditions			3 years

INCOME TAXES (Details) $ in Millions	3 Months Ended		6 Months Ended
INCOME TAXES (Details) $ in Millions	Apr. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)	Apr. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)	Feb. 24, 2021 a
Income Tax Contingency [Line Items]
Income tax expense	$ 17.3	$ 26.5	$ 23.4	$ 37.9
Favorable reconciliation tax settlement			$ 7.5
Timberland In Southwest Alabama
Income Tax Contingency [Line Items]
Area of land \| a					69,200

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

POST RETIREMENT BENEFIT PLANS - Additional Information (Details) - Pension Plans, Defined Benefit - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 30, 2021	Apr. 30, 2021	Oct. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expected future employer contributions	$ 21.7	$ 21.7
United States
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, annuity	100.0	100.0
Lump sum payments	6.0	7.5
Decrease for settlement		107.5
Loss on settlement	$ 0.1	8.6
Funded status of the plan		$ 9.6
Defined benefit plan discount rate	3.21%	3.21%	3.01%

POST RETIREMENT BENEFIT PLANS - Components of Net Periodic Pension Cost (Details) - Pension Plans, Defined Benefit - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3.1	$ 2.8	$ 6.2	$ 6.0
Interest cost	4.6	5.6	9.1	12.2
Expected return on plan assets	(8.1)	(7.9)	(16.0)	(18.2)
Amortization of prior service cost	(0.1)	2.9	(0.1)	6.4
Recognized net actuarial loss	3.7	0.0	7.5	0.0
Net periodic costs (benefits) for pension and post-retirement benefits	$ 3.2	$ 3.4	$ 6.7	$ 6.4

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES (Details) $ in Millions	54 Months Ended
	Apr. 30, 2021 USD ($) facility	Oct. 31, 2020 USD ($)
Site Contingency [Line Items]
Number of reconditioning facilities subject to litigation \| facility	2
Environmental liability reserves	$ 19.5	$ 20.2
Diamond Alkali
Site Contingency [Line Items]
Environmental liability reserves	11.1	11.1
European Drum Facilities
Site Contingency [Line Items]
Environmental liability reserves	$ 8.4	$ 9.1

EARNINGS PER SHARE - Additional Information (Details) - $ / shares	6 Months Ended	12 Months Ended
	Apr. 30, 2021	Oct. 31, 2020
Board Of Director Authorized
Class of Stock [Line Items]
Number of shares authorized to be purchased (shares)	4,703,487
Stock Repurchase Committee Authorized
Class of Stock [Line Items]
Repurchase of common stock (shares)	0	0
Class A Common Stock
Class of Stock [Line Items]
Dividend proportions (usd per share)	$ 0.01
Percentage of shares outstanding used in two class method calculation	40.00%
Class B Common Stock
Class of Stock [Line Items]
Dividend proportions (usd per share)	$ 0.015
Percentage of shares outstanding used in two class method calculation	60.00%

EARNINGS PER SHARE - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$ 149.8	$ 11.4	$ 173.2	$ 43.7
Cash dividends	(26.3)	(26.1)	(52.2)	(52.0)
Undistributed earnings attributable to Greif, Inc.	$ 123.5	$ (14.7)	$ 121.0	$ (8.3)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

EARNINGS PER SHARE - Summarization of Company's Class A and Class B Common and Treasury Shares (Details) - shares	Apr. 30, 2021	Oct. 31, 2020
Class A Common Stock
Class of Stock [Line Items]
Authorized Shares (shares)	128,000,000	128,000,000
Issued Shares (shares)	42,281,920	42,281,920
Outstanding Shares (shares)	26,550,924	26,441,986
Treasury Shares (shares)	15,730,996	15,839,934
Class B Common Stock
Class of Stock [Line Items]
Authorized Shares (shares)	69,120,000	69,120,000
Issued Shares (shares)	34,560,000	34,560,000
Outstanding Shares (shares)	22,007,725	22,007,725
Treasury Shares (shares)	12,552,275	12,552,275

EARNINGS PER SHARE - Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Class A Common Stock
Class of Stock [Line Items]
Basic shares (shares)	26,544,197	26,386,439	26,500,134	26,323,691
Assumed conversion of restricted shares (shares)	120,050	0	102,616	0
Diluted shares (shares)	26,664,247	26,386,439	26,602,750	26,323,691
Class B Common Stock
Class of Stock [Line Items]
Basic shares (shares)	22,000,000.0	22,000,000.0	22,000,000.0	22,000,000.0
Diluted shares (shares)	22,000,000.0	22,000,000.0	22,000,000.0	22,000,000.0
Basic and diluted shares (shares)	22,007,725	22,007,725	22,007,725	22,007,725

LEASES - Additional Information (Details)	6 Months Ended
LEASES - Additional Information (Details)	Apr. 30, 2021
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	21 years

LEASES - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Operating lease cost	$ 17.2	$ 15.6	$ 34.5	$ 32.8
Other lease cost	7.0	8.1	12.7	14.5
Total lease cost	$ 24.2	$ 23.7	$ 47.2	$ 47.3

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Millions	Apr. 30, 2021 USD ($)
Leases [Abstract]
2021	$ 67.3
2022	59.9
2023	51.3
2024	42.3
2025	38.0
Thereafter	143.4
Total lease payments	402.2
Less: Interest	(100.0)
Lease liabilities	$ 302.2

LEASES - Schedule of Weighted-Average Lease Term and Discount Rate (Details)	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (years) for operating lease liabilities	10 years 8 months 12 days	11 years 4 months 24 days
Weighted-average discount rate for operating lease liabilities	3.66%	3.81%

LEASES - Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
LEASES - Cash Flow (Details) - USD ($) $ in Millions	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Leases [Abstract]
Operating cash flows used for operating liabilities	$ 17.2	$ 18.2	$ 34.6	$ 35.3
Leased assets obtained in exchange for new operating lease liabilities	$ 11.7	$ 34.3	$ 13.6	$ 63.1

COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 1,152.2
Other Comprehensive Income (Loss)	$ 40.5	$ (74.1)	92.7	$ (55.3)
Ending balance	1,374.2		1,374.2
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(294.9)	(298.0)
Other Comprehensive Income (Loss)			33.6	(49.8)
Ending balance	(261.3)	(347.8)	(261.3)	(347.8)
Derivative Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(24.7)	(12.7)
Other Comprehensive Income (Loss)			11.4	(22.9)
Ending balance	(13.3)	(35.6)	(13.3)	(35.6)
Minimum Pension Liability Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(107.9)	(123.0)
Other Comprehensive Income (Loss)			47.1	23.0
Ending balance	(60.8)	(100.0)	(60.8)	(100.0)
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(427.5)	(433.7)
Other Comprehensive Income (Loss)			92.1	(49.7)
Ending balance	$ (335.4)	$ (483.4)	$ (335.4)	$ (483.4)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

- Definition

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

+ References + Details

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	6 Months Ended
	Apr. 30, 2021 Segment
Segment Reporting [Abstract]
Number of reportable segments, combined	2
Number of operating segments	6

BUSINESS SEGMENT INFORMATION - Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Segment Reporting Information [Line Items]
Net sales	$ 1,340.6	$ 1,158.3	$ 2,487.1	$ 2,270.7
Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	798.0	670.0	1,457.3	1,301.7
Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	537.0	481.6	1,017.9	955.3
Land Management
Segment Reporting Information [Line Items]
Net sales	5.6	6.7	11.9	13.7
United States
Segment Reporting Information [Line Items]
Net sales	784.3	708.3	1,466.9	1,392.2
United States \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	250.3	226.5	453.1	435.6
United States \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	528.4	475.1	1,001.9	942.9
United States \| Land Management
Segment Reporting Information [Line Items]
Net sales	5.6	6.7	11.9	13.7
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Net sales	410.5	336.2	741.0	643.5
Europe, Middle East and Africa \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	410.5	336.2	741.0	643.5
Europe, Middle East and Africa \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	0.0	0.0	0.0	0.0
Europe, Middle East and Africa \| Land Management
Segment Reporting Information [Line Items]
Net sales	0.0	0.0	0.0	0.0
Asia Pacific and Other Americas
Segment Reporting Information [Line Items]
Net sales	145.8	113.8	279.2	235.0
Asia Pacific and Other Americas \| Global Industrial Packaging
Segment Reporting Information [Line Items]
Net sales	137.2	107.3	263.2	222.6
Asia Pacific and Other Americas \| Paper Packaging & Services
Segment Reporting Information [Line Items]
Net sales	8.6	6.5	16.0	12.4
Asia Pacific and Other Americas \| Land Management
Segment Reporting Information [Line Items]
Net sales	$ 0.0	$ 0.0	$ 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.

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+ Details

BUSINESS SEGMENT INFORMATION - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Apr. 30, 2021	Apr. 30, 2020
Operating profit (loss):
Total operating profit	$ 200.6	$ 72.0	$ 270.6	$ 151.2
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	58.8	61.2	118.1	122.5
Global Industrial Packaging
Operating profit (loss):
Total operating profit	76.4	75.1	130.4	119.9
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	21.2	21.5	42.2	42.6
Paper Packaging & Services
Operating profit (loss):
Total operating profit	27.3	(5.5)	41.6	27.0
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	36.9	38.8	74.1	78.0
Land Management
Operating profit (loss):
Total operating profit	96.9	2.4	98.6	4.3
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	$ 0.7	$ 0.9	$ 1.8	$ 1.9

BUSINESS SEGMENT INFORMATION - Properties, Plants and Equipment, Net by Geographical Area (Details) - USD ($) $ in Millions	Apr. 30, 2021	Oct. 31, 2020
Assets:
Total assets	$ 5,587.9	$ 5,510.9
Long lived assets, net
Total long-lived assets, net	1,798.8	1,834.4
United States
Long lived assets, net
Total long-lived assets, net	1,309.3	1,345.8
Europe, Middle East and Africa
Long lived assets, net
Total long-lived assets, net	372.9	377.6
Asia Pacific and Other Americas
Long lived assets, net
Total long-lived assets, net	116.6	111.0
Operating Segments
Assets:
Total assets	5,279.7	5,211.4
Operating Segments \| Global Industrial Packaging
Assets:
Total assets	2,561.7	2,338.5
Operating Segments \| Paper Packaging & Services
Assets:
Total assets	2,470.2	2,524.3
Operating Segments \| Land Management
Assets:
Total assets	247.8	348.6
Corporate and other
Assets:
Total assets	$ 308.2	$ 299.5

DISPOSALS OF TIMBERLAND (Details) $ in Millions		3 Months Ended		6 Months Ended
DISPOSALS OF TIMBERLAND (Details) $ in Millions	Feb. 24, 2021 USD ($) a	Apr. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)	Apr. 30, 2021 USD ($)	Apr. 30, 2020 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of timberlands				$ 145.1	$ 0.0
Timberland gains	$ (95.7)		$ 0.0	$ (95.7)	$ 0.0
Timberland In Southwest Alabama
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of land \| a	69,200
Proceeds from the sale of timberlands		$ 145.1
Closing cost adjustments		$ 4.3