BUSINESS SEGMENT INFORMATION

9 Months Ended

Jul. 31, 2019

The Company has eight operating segments, which are aggregated into four reportable business segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management.

The Company’s reportable business segments offer different products and services. 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 2018 Form 10-K.

On June 11, 2019, the Company completed the Tholu Acquisition. Tholu is a Netherlands-based leader in IBC rebottling, reconditioning and distribution. The results of Tholu are recorded within the Rigid Industrial Packaging & Services segment, which incorporates IBC packaging services.

On February 11, 2019, the Company completed the Caraustar Acquisition. Caraustar sells a variety of specialty paper products which complement the Company's Paper Packaging & Services specialty portfolio. The results of Caraustar are recorded within the Paper Packaging & Services segment while the Company evaluates the impact of the Caraustar Acquisition on its reportable business segments.

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and nine months ended July 31, 2019:



	Three Months Ended July 31, 2019
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	229.9	$	296.2	$	116.0	$	642.1
Paper Packaging & Services	522.3		—		7.7		530.0
Flexible Products & Services	9.6		57.4		7.5		74.5
Land Management	6.0		—		—		6.0
Total net sales	$	767.8	$	353.6	$	131.2	$	1,252.6



	Nine Months Ended July 31, 2019
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	688.2	$	831.8	$	351.6	$	1,871.6
Paper Packaging & Services	1,231.2		—		13.7		1,244.9
Flexible Products & Services	26.3		177.4		22.9		226.6
Land Management	19.8		—		—		19.8
Total net sales	$	1,965.5	$	1,009.2	$	388.2	$	3,362.9

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and nine months ended July 31, 2018:



	Three Months Ended July 31, 2018
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	255.1	$	306.0	$	126.5	$	687.6
Paper Packaging & Services	236.0		—		—		236.0
Flexible Products & Services	9.1		66.5		7.0		82.6
Land Management	5.9		—		—		5.9
Total net sales	$	506.1	$	372.5	$	133.5	$	1,012.1



	Nine Months Ended July 31, 2018
(in millions)	United States		Europe, Middle East and Africa		Asia Pacific and Other Americas		Total
Rigid Industrial Packaging & Services	$	702.8	$	874.1	$	388.8	$	1,965.7
Paper Packaging & Services	653.7		—		—		653.7
Flexible Products & Services	25.7		200.5		20.5		246.7
Land Management	20.0		—		—		20.0
Total net sales	$	1,402.2	$	1,074.6	$	409.3	$	2,886.1

The following segment information is presented for the periods indicated:



	Three Months Ended July 31,				Nine Months Ended July 31,
(in millions)	2019		2018		2019		2018
Operating profit:
Rigid Industrial Packaging & Services	$	54.3	$	62.0	$	124.6	$	140.4
Paper Packaging & Services	63.1		44.1		128.6		105.0
Flexible Products & Services	5.0		5.8		22.2		14.0
Land Management	3.2		2.1		8.0		7.8
Total operating profit	$	125.6	$	114.0	$	283.4	$	267.2

Depreciation, depletion and amortization expense:
Rigid Industrial Packaging & Services	$	18.6	$	20.5	$	57.0	$	62.2
Paper Packaging & Services	38.9		8.9		81.9		25.6
Flexible Products & Services	1.4		1.8		4.7		5.4
Land Management	1.1		1.2		3.2		3.3
Total depreciation, depletion and amortization expense	$	60.0	$	32.4	$	146.8	$	96.5

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



(in millions)	July 31, 2019		October 31, 2018
Assets:
Rigid Industrial Packaging & Services	$	2,106.4	$	1,963.0
Paper Packaging & Services	2,707.9		474.3
Flexible Products & Services	153.3		153.9
Land Management	346.1		347.2
Total segments	5,313.7		2,938.4
Corporate and other	238.7		256.4
Total assets	$	5,552.4	$	3,194.8

Properties, plants and equipment, net:
United States	$	1,295.3	$	796.3
Europe, Middle East and Africa	265.6		276.9
Asia Pacific and other Americas	117.1		118.7
Total properties, plants and equipment, net	$	1,678.0	$	1,191.9