Business Segment Information

12 Months Ended

Oct. 31, 2011

Business Segment Information [Abstract]

BUSINESS SEGMENT INFORMATION

NOTE 17—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, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and reconditioned containers, and services, such as container life cycle services, 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 a North American provider of industrial and consumer shipping sacks and multiwall bag products. Our flexible intermediate bulk containers consist of a polypropylene-based woven fabric that is 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 shipping sacks and 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, corrugated containers 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, 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 267,750 acres of timber properties in the southeastern United States, which are actively managed, and 14,700 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 properties, which consists of surplus properties, higher and better use properties, and development properties.

The following segment information is presented for each of the three years in the period ended October 31, 2011, except (Dollars in thousands):

	2011			2010			2009
Net sales:
Rigid Industrial Packaging & Service	$	3,014,109		$	2,587,854		$	2,266,890
Flexible Products & Services		537,993			233,119			43,975
Paper Packaging		674,945			624,092			460,712
Land Management		20,907			16,472			20,640
Total net sales	$	4,247,954		$	3,461,537		$	2,792,217
Operating profit:
Operating profit, before the impact of restructuring charges, restructuring-related inventory charges and acquisition-related costs:
Rigid Industrial Packaging & Service	$	261,800		$	291,066		$	210,908
Flexible Products & Services		41,245			18,761			8,588
Paper Packaging		74,385			60,640			35,526
Land Management		19,045			9,001			22,237
Total operating profit, before the impact of restructuring charges, restructuring-related inventory charges and acquisition-related costs:		396,475			379,468			277,259
Restructuring charges:
Rigid Industrial Packaging & Service		24,055			20,980			65,742
Flexible Products & Services		6,898			624			—
Paper Packaging		(451	)		5,142			685
Land Management		(6	)		—			163
Total restructuring charges		30,496			26,746			66,590
Restructuring-related inventory charges:
Rigid Industrial Packaging		—			131			10,772
Total inventory-related restructuring charges		—			131			10,772
Acquisition-related costs:
Rigid Industrial Packaging & Service		9,872			7,672			—
Flexible Products & Services		14,513			19,504			—
Total acquisition-related costs		24,385			27,176			—
Non-cash asset impairment charges:
Rigid Industrial Packaging & Service		1,547			—			—
Flexible Products & Services		2,962			—			—
Total non-cash asset impairment charges		4,509			—			—
Operating profit:
Rigid Industrial Packaging		226,326			262,283			134,394
Flexible Products & Services		16,872			(1,367	)		8,588
Paper Packaging		74,836			55,498			34,841
Land Management		19,051			9,001			22,074
Total operating profit	$	337,085		$	325,415		$	199,897

	2011		2010		2009
Assets:
Rigid Industrial Packaging & Services	$	2,738,182	$	2,058,165	$	1,783,821
Flexible Products & Services		383,507		353,715		15,296
Paper Packaging		420,370		435,555		402,787
Land Management		280,141		274,352		254,856
Total segment		3,822,200		3,121,787		2,456,760
Corporate and other		385,082		376,658		367,169
Total assets	$	4,207,282	$	3,498,445	$	2,823,929
Depreciation, depletion and amortization expense:
Rigid Industrial Packaging & Services	$	93,023	$	79,050	$	73,212
Flexible Products & Services		16,537		4,937		794
Paper Packaging		31,622		29,204		25,517
Land Management		3,009		2,783		3,104
Total depreciation, depletion and amortization expense	$	144,191	$	115,974	$	102,627

The following geographic information is presented for each of the three years in the period ended October 31, 2011, (Dollars in thousands):

	2011		2010		2009
Net Sales
North America	$	1,932,837	$	1,732,880	$	1,530,438
Europe, Middle East, and Africa		1,645,577		1,171,363		835,117
Asia Pacific and Latin America		669,540		557,294		426,662
Total net sales	$	4,247,954	$	3,461,537	$	2,792,217

The following table presents total assets by geographic region (Dollars in thousands):

	2011		2010
Assets:
North America	$	1,779,475	$	1,895,475
Europe, Middle East, and Africa		1,750,352		1,012,131
Asia Pacific and Latin America		677,455		590,839
Total assets	$	4,207,282	$	3,498,445