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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Apr. 30, 2023
Apr. 30, 2022
Net sales $ 1,308.9 $ 1,667.3 $ 2,579.9 $ 3,231.6
Cost of products sold 997.1 1,328.6 2,016.5 2,603.2
Gross profit 311.8 338.7 563.4 628.4
Selling, general and administrative expenses 137.2 147.4 276.6 299.0
Restructuring charges 2.4 3.7 4.8 7.2
Acquisition and integration related costs 4.6 2.0 12.1 3.6
Non-cash asset impairment charges 1.3 0.0 1.8 62.4
Gain on disposal of properties, plants and equipment, net (5.0) (0.3) (5.0) (1.7)
Gain on disposals of businesses, net (9.8) (4.2) (64.4) (4.2)
Operating profit 181.1 190.1 337.5 262.1
Interest expense, net 23.4 13.2 46.2 30.3
Debt extinguishment charges 0.0 25.4 0.0 25.4
Other expense (income), net 2.9 (4.4) 6.2 (2.4)
Income before income tax expense and equity earnings of unconsolidated affiliates, net 154.8 155.9 285.1 208.8
Income tax expense 39.1 29.9 76.8 65.5
Equity earnings of unconsolidated affiliates, net of tax (0.3) (0.7) (0.8) (2.0)
Net income 116.0 126.7 209.1 145.3
Net income attributable to noncontrolling interests (4.8) (1.6) (8.0) (9.9)
Net income attributable to Greif, Inc. $ 111.2 $ 125.1 $ 201.1 $ 135.4
Class A Common Stock        
Basic earnings per share attributable to Greif, Inc. common shareholders:        
Basic earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 1.91 $ 2.11 $ 3.46 $ 2.28
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 1.90 $ 2.09 $ 3.44 $ 2.27
Weighted-average number of common shares outstanding:        
Basic (in shares) 25,771,973 26,618,116 25,712,178 26,596,024
Diluted (in shares) 26,185,895 26,813,014 25,986,677 26,776,546
Cash dividends declared per common share:        
Cash dividends declared per common share (in usd per share) $ 0.50 $ 0.46 $ 1.00 $ 0.92
Class B Common Stock        
Basic earnings per share attributable to Greif, Inc. common shareholders:        
Basic earnings per share attributable to Greif, Inc. common shareholders (in usd per share) 2.88 3.15 5.19 3.40
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 2.88 $ 3.15 $ 5.19 $ 3.40
Weighted-average number of common shares outstanding:        
Basic (in shares) 21,495,741 22,007,725 21,608,671 22,007,725
Diluted (in shares) 21,495,741 22,007,725 21,608,671 22,007,725
Cash dividends declared per common share:        
Cash dividends declared per common share (in usd per share) $ 0.75 $ 0.69 $ 1.49 $ 1.37