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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Net sales $ 1,330.3 $ 1,622.1 $ 3,910.2 $ 4,853.7
Cost of products sold 1,023.3 1,275.2 3,039.8 3,878.4
Gross profit 307.0 346.9 870.4 975.3
Selling, general and administrative expenses 135.7 141.6 412.3 440.6
Acquisition and integration related costs 3.4 2.2 15.5 5.8
Restructuring charges 8.7 3.1 13.5 10.3
Non-cash asset impairment charges 1.6 0.7 3.4 63.1
Loss (gain) on disposal of properties, plants and equipment, net 1.7 (6.4) (3.3) (8.1)
Loss (gain) on disposal of businesses, net 0.3 0.0 (64.1) (4.2)
Operating profit 155.6 205.7 493.1 467.8
Interest expense, net 25.3 14.0 71.5 44.3
Debt extinguishment charges 0.0 0.0 0.0 25.4
Other expense, net 3.4 7.3 9.6 4.9
Income before income tax expense and equity earnings of unconsolidated affiliates, net 126.9 184.4 412.0 393.2
Income tax expense 31.1 39.9 107.9 105.4
Equity earnings of unconsolidated affiliates, net of tax (0.9) (1.6) (1.7) (3.6)
Net income 96.7 146.1 305.8 291.4
Net income attributable to noncontrolling interests (6.4) (4.3) (14.4) (14.2)
Net income attributable to Greif, Inc. $ 90.3 $ 141.8 $ 291.4 $ 277.2
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) $ 1.57 $ 2.38 $ 5.03 $ 4.66
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 1.55 $ 2.36 $ 4.99 $ 4.63
Weighted-average number of common shares outstanding:        
Basic (in shares) 25,473,454 26,207,808 25,632,486 26,466,619
Diluted (in shares) 25,994,272 26,626,983 25,989,091 26,721,681
Cash dividends declared per common share:        
Cash dividends declared per common share (in usd per share) $ 0.50 $ 0.46 $ 1.50 $ 1.38
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) 2.35 3.58 7.54 6.98
Diluted earnings per share attributable to Greif, Inc. common shareholders:        
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share) $ 2.35 $ 3.58 $ 7.54 $ 6.98
Weighted-average number of common shares outstanding:        
Basic (in shares) 21,339,943 22,007,725 21,519,665 22,007,725
Diluted (in shares) 21,339,943 22,007,725 21,519,665 22,007,725
Cash dividends declared per common share:        
Cash dividends declared per common share (in usd per share) $ 0.75 $ 0.69 $ 2.24 $ 2.06