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Business Segment Information
 6 Months Ended
Apr. 30, 2011
Business Segment Information [Abstract]  
BUSINESS SEGMENT INFORMATION
NOTE 18 — BUSINESS SEGMENT INFORMATION
The Company operates in four business segments: Rigid Industrial Packaging & Services, Flexible Products & Services, Paper Packaging, and Land Management.
Operations in the Rigid Industrial Packaging & Services segment involve the production and sale of rigid industrial packaging products, such as steel, fiber and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, water bottles and reconditioned containers, and services, such as container lifecycle management, blending, filling and other packaging services, logistics and warehousing. The Company’s rigid industrial packaging products are sold to customers in industries such as chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agricultural, pharmaceutical and mineral, among others.
Operations in the Flexible Products & Services segment involve the production and sale of flexible intermediate bulk containers and related services on a global basis and industrial and consumer multiwall bag products in the North America market. Our flexible intermediate bulk containers consist of a polypropylene-based woven fabric that is partly produced at our fully integrated production sites, as well as sourced from strategic regional suppliers. Our flexible products are sold to customers and in market segments similar to those of our Rigid Industrial Packaging & Services segment. Additionally, our flexible products significantly expand our presence in the agricultural and food industries, among others. Our industrial and consumer multiwall bag products are used to ship a wide range of industrial and consumer products, such as seed, fertilizers, chemicals, concrete, flour, sugar, feed, pet foods, popcorn, charcoal and salt, primarily for the agricultural, chemical, building products and food industries.
Operations in the Paper Packaging segment involve the production and sale of containerboard, corrugated sheets and other corrugated products to customers in North America. The Company’s corrugated container products are used to ship such diverse products as home appliances, small machinery, grocery products, building products, automotive components, books and furniture, as well as numerous other applications. Operations related to the Company’s industrial and consumer multiwall bag products were reclassified from this segment to the Flexible Products & Services segment in the first quarter of 2010.
Operations in the Land Management segment involve the management and sale of timber and special use properties from approximately 266,900 acres of timber properties in the southeastern United States, which are actively managed, and 23,100 acres of timber properties in Canada, which are not actively managed. The Company’s Land Management team is focused on the active harvesting and regeneration of our United States timber properties to achieve sustainable long-term yields. While timber sales are subject to fluctuations, the Company seeks to maintain a consistent cutting schedule, within the limits of market and weather conditions. The Company also sells, from time to time, timberland and special use land, which consists of surplus land, higher and better use (“HBU”) land, and development land.
The Company’s reportable segments are strategic business units that offer different products. The accounting policies of the reportable segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2010 Form 10-K.
The following segment information is presented for the periods indicated (Dollars in thousands):
                                 
    Three months ended     Six months ended  
    April 30,     April 30,  
    2011     2010     2011     2010  
 
Net sales
                               
Rigid Industrial Packaging & Services
  $ 743,946     $ 636,544     $ 1,397,837     $ 1,201,308  
Flexible Products & Services
    134,816       50,455       262,824       61,741  
Paper Packaging
    166,540       147,527       323,304       275,790  
Land Management
    5,464       2,054       10,593       7,423  
 
                       
Total net sales
  $ 1,050,766     $ 836,580     $ 1,994,558     $ 1,546,262  
 
                       
Operating profit:
                               
Rigid Industrial Packaging & Services
  $ 66,141     $ 64,264     $ 112,203     $ 112,905  
Flexible Products & Services
    1,974       368       3,426       (4,310 )
Paper Packaging
    20,856       7,635       38,996       11,334  
Land Management
    2,311       492       5,377       3,491  
 
                       
Total operating profit
    91,282       72,759       160,002       123,420  
 
                       
Restructuring charges:
                               
Rigid Industrial Packaging & Services
    2,304       4,718       4,549       10,674  
Flexible Products & Services
    3,175       —       3,231       —  
Paper Packaging
    (453 )     72       237       113  
Land Management
    (6 )     —       (6 )     —  
 
                       
Total restructuring charges
    5,020       4,790       8,011       10,787  
 
                       
Restructuring-related inventory charges:
                               
Rigid Industrial Packaging & Services
    —       37       —       37  
 
                       
Total restructuring-related inventory charges
    —       37       —       37  
 
                       
Acquisition-related costs:
                               
Rigid Industrial Packaging & Services
    2,699       941       4,208       3,803  
Flexible Products & Services
    5,322       3,646       12,357       10,840  
 
                       
Total acquisition-related costs
    8,021       4,587       16,565       14,643  
 
                       
Operating profit before special items:
                               
Rigid Industrial Packaging & Services
    71,144       69,960       120,960       127,419  
Flexible Products & Services
    10,471       4,014       19,014       6,530  
Paper Packaging
    20,403       7,707       39,233       11,447  
Land Management
    2,305       492       5,371       3,491  
 
                       
Total operating profit before special items*
  $ 104,323     $ 82,173     $ 184,578     $ 148,887  
 
                       
Depreciation, depletion and amortization expense:
                               
Rigid Industrial Packaging & Services
  $ 21,806     $ 19,938     $ 42,197     $ 41,191  
Flexible Products & Services
    4,107       795       8,320       980  
Paper Packaging
    7,875       6,676       15,577       13,810  
Land Management
    806       264       1,608       1,198  
 
                       
Total depreciation, depletion and amortization expense
  $ 34,594     $ 27,673     $ 67,702     $ 57,179  
 
                       
*  
Total operating profit before special items represents operating profit before the impact of restructuring charges, restructuring-related inventory charges and acquisition-related costs.
The following table presents net sales to external customers by geographic area (Dollars in thousands):
                                 
    Three months ended April 30,     Six months ended April 30,  
    2011     2010     2011     2010  
Net sales:
                               
North America
  $ 483,932     $ 420,907     $ 923,780     $ 781,827  
Europe, Middle East and Africa
    406,499       288,604       751,678       512,918  
Asia Pacific and Latin America
    160,335       127,069       319,100       251,517  
 
                       
Total net sales
  $ 1,050,766     $ 836,580     $ 1,994,558     $ 1,546,262  
 
                       
The following table presents total assets by segment and geographic area (Dollars in thousands):
                 
    April 30, 2011     October 31, 2010  
Assets:
               
Rigid Industrial Packaging & Services
  $ 2,237,824     $ 2,058,165  
Flexible Products & Services
    377,588       353,715  
Paper Packaging
    445,209       435,555  
Land Management
    275,678       274,352  
 
           
Total segments
    3,336,299       3,121,787  
 
           
Corporate and other
    377,220       376,658  
 
           
Total assets
  $ 3,713,519     $ 3,498,445  
 
           
 
               
Assets:
               
North America
  $ 1,515,945     $ 1,895,475  
Europe, Middle East and Africa
    1,302,416       1,012,131  
Asia Pacific and Latin America
    895,158       590,839  
 
           
Total assets
  $ 3,713,519     $ 3,498,445