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Redeemable Noncontrolling Interests
 9 Months Ended
Jul. 31, 2017
Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests
REDEEMABLE NONCONTROLLING INTERESTS
Mandatorily Redeemable Noncontrolling Interests
The terms of the joint venture agreement for one joint venture within the Rigid Industrial Packaging & Services segment include mandatory redemption by the Company, in cash, of the noncontrolling interest holders’ equity at a formulaic price after the expiration of a lockout period specific to each noncontrolling interest holder. The redemption features cause the equity interest to be classified as a mandatorily redeemable instrument under the accounting guidance, and this interest is included at the current redemption value each period in long-term or short-term liabilities of the Company, as applicable. The impact of marking to redemption value at each period end is recorded in interest expense. The Company has a contractual obligation to redeem the outstanding equity interests of each remaining partner in 2021 and 2022.
During the first quarter of 2017, an asset group within the Rigid Industrial Packaging & Services segment was classified as assets and liabilities held for sale. The mandatorily redeemable noncontrolling interest was included within this asset group and was classified out of other long-term liabilities and into liabilities held for sale during the first quarter of 2017.
The following table summarizes the change in mandatorily redeemable noncontrolling interest for the nine months ended July 31, 2017:
(in millions)
Mandatorily
Redeemable
Noncontrolling
Interest
Balance as of October 31, 2016
$
9.0

Current period mark to redemption value
(0.3
)
Reclassification to liabilities held for sale
(8.7
)
Balance as of July 31, 2017
$
—


Redeemable Noncontrolling Interests
Redeemable noncontrolling interests related to one joint venture within the Paper Packaging & Services segment and one joint venture within the Rigid Industrial Packaging & Services segment are held by the respective noncontrolling interest owners. The holders of these interests share in the profits and losses of these entities on a pro rata basis with the Company. However, the noncontrolling interest owners have the right to put all or a portion of those noncontrolling interests to the Company at a formulaic price after a set period of time, specific to each agreement.
Redeemable noncontrolling interests are reflected in the condensed consolidated balance sheets at redemption value. The following table summarizes the change in redeemable noncontrolling interest for the nine months ended July 31, 2017:
(in millions)
Redeemable
Noncontrolling
Interest
Balance as of October 31, 2016
$
31.8

Current period mark to redemption value
(3.8
)
Redeemable noncontrolling interest share of income and other
3.1

Dividends to redeemable noncontrolling interest and other
(1.3
)
Balance as of July 31, 2017
$
29.8