XML 25 R77.htm IDEA: XBRL DOCUMENT v2.4.0.6
Correction of Errors (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended 12 Months Ended
Jul. 31, 2012
Apr. 30, 2012
Jan. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
Jul. 31, 2011
Oct. 31, 2011
Oct. 31, 2010
Consolidated Statements of Operations                
Net sales $ 1,102.8 $ 1,098.1   $ 1,121.9 $ 3,193.6 $ 3,116.5    
Cost of products sold 900.3     910.8 2,606.5 2,522.4 3,447.7 2,759.5
Gross profit 202.5 205.9   211.1 587.1 594.1 800.2 702.0
Selling, general and administrative expenses 115.8 118.7 110.4 109.3 344.9 330.0 449.1 364.6
(Gain) on disposal of properties, plants and equipment, net (3.3)   (2.0) (9.2) (6.4) (14.1) (16.1)  
Operating profit 86.1 79.1 60.5 107.6 225.7 266.8 336.7 322.1
Income before income tax expense and equity earnings of unconsolidated affilitates, net 65.7 52.3 37.0 84.7 155.0 203.1 243.0 249.2
Income tax expense 24.5 15.1 11.0 17.3 50.5 45.3 67.2 40.5
Net income 41.7 39.2 26.0 68.9 107.0 159.8 180.6 212.3
Net income attributable to Greif, Inc. 40.7 39.8 25.3 66.9 105.8 158.4 179.5 206.8
Current assets                
Trade accounts receivable, less allowance 492.8       492.8   563.0 475.9
Inventories 398.2       398.2   431.8 395.7
Prepaid expenses and other current assets 133.3       133.3   134.1 128.7
Long-term assets                
Goodwill 952.4       952.4   1,005.1 709.9
Other intangible assets, net of amortization 198.6       198.6   228.8 172.5
Other long-term assets 88.7       88.7   93.4  
Properties, plants and equipment                
Machinery and equipment 1,375.1       1,375.1   1,396.8 1,318.0
Total assets 3,913.7       3,913.7   4,194.1 3,485.8
Current liabilities                
Accounts payable 461.2       461.2   492.9 473.0
Long-term liabilities                
Other long-term liabilities 188.9       188.9   203.3 121.1
Shareholders' equity                
Retained earnings 1,415.9       1,415.9   1,383.3 1,301.6
Total liabilities and shareholders' equity 3,913.7       3,913.7   4,194.1 3,485.8
Class A common stock [Member]
               
Basic earnings per share attributable to Greif, Inc. common shareholders:                
EPS Basic $ 0.70 $ 0.68 $ 0.44 $ 1.15 $ 1.82 $ 2.72 $ 3.08 $ 3.55
Diluted earnings per share attributable to Greif, Inc. common shareholders:                
EPS Diluted $ 0.70 $ 0.68 $ 0.44 $ 1.14 $ 1.82 $ 2.70 $ 3.07 $ 3.53
Class B common stock [Member]
               
Basic earnings per share attributable to Greif, Inc. common shareholders:                
EPS Basic $ 1.05 $ 1.02 $ 0.65 $ 1.72 $ 2.72 $ 4.06 $ 4.61 $ 5.31
Diluted earnings per share attributable to Greif, Inc. common shareholders:                
EPS Diluted $ 1.05 $ 1.02 $ 0.65 $ 1.72 $ 2.72 $ 4.06 $ 4.61 $ 5.31
Scenario, Previously Reported [Member]
               
Consolidated Statements of Operations                
Net sales   1,095.3            
Cost of products sold       910.6   2,521.7 3,446.8 2,757.9
Gross profit   203.1   211.3   594.8 801.1 703.6
Selling, general and administrative expenses   121.9 112.6 109.1   329.5 448.4 362.9
(Gain) on disposal of properties, plants and equipment, net     (3.2)       (14.9)  
Operating profit   74.3 58.3 108.0   268.0 337.1 325.4
Income before income tax expense and equity earnings of unconsolidated affilitates, net   47.5 34.8 85.1   204.3 243.4 252.5
Income tax expense   13.3 10.2 21.7   49.7 71.1 40.6
Net income   36.2 24.6 64.9   156.6 177.1 215.5
Net income attributable to Greif, Inc.   36.8 23.9 62.9   155.2 176.0 210.0
Current assets                
Trade accounts receivable, less allowance             568.6 480.2
Inventories             432.5 396.6
Prepaid expenses and other current assets             140.0 134.3
Long-term assets                
Goodwill             1,004.9 709.7
Other intangible assets, net of amortization             229.8 173.2
Other long-term assets             92.2  
Properties, plants and equipment                
Machinery and equipment             1,398.2 1,319.3
Total assets             4,207.3 3,498.4
Current liabilities                
Accounts payable             487.8 467.9
Long-term liabilities                
Other long-term liabilities             203.2 116.9
Shareholders' equity                
Retained earnings             1,401.7 1,323.5
Total liabilities and shareholders' equity             4,207.3 3,498.4
Scenario, Previously Reported [Member] | Class A common stock [Member]
               
Basic earnings per share attributable to Greif, Inc. common shareholders:                
EPS Basic   $ 0.63 $ 0.41 $ 1.08   $ 2.66 $ 3.02 $ 3.60
Diluted earnings per share attributable to Greif, Inc. common shareholders:                
EPS Diluted   $ 0.63 $ 0.41 $ 1.07   $ 2.65 $ 3.01 $ 3.58
Scenario, Previously Reported [Member] | Class B common stock [Member]
               
Basic earnings per share attributable to Greif, Inc. common shareholders:                
EPS Basic   $ 0.95 $ 0.61 $ 1.61   $ 3.98 $ 4.52 $ 5.40
Diluted earnings per share attributable to Greif, Inc. common shareholders:                
EPS Diluted   $ 0.95 $ 0.61 $ 1.61   $ 3.98 $ 4.52 $ 5.40
Restatement Adjustment [Member]
               
Consolidated Statements of Operations                
Net sales   2.8            
Cost of products sold       0.2   0.7 0.9 1.6
Gross profit   2.8   (0.2)   (0.7) (0.9) (1.6)
Selling, general and administrative expenses   (3.2) (2.2) 0.2   0.5 0.7 1.7
(Gain) on disposal of properties, plants and equipment, net     1.2       (1.2)  
Operating profit   4.8 2.2 (0.4)   (1.2) (0.4) (3.3)
Income before income tax expense and equity earnings of unconsolidated affilitates, net   4.8 2.2 (0.4)   (1.2) (0.4) (3.3)
Income tax expense   1.8 0.8 (4.4)   (4.4) (3.9) (0.1)
Net income   3.0 1.4 4.0   3.2 3.5 (3.2)
Net income attributable to Greif, Inc.   3.0 1.4 4.0   3.2 3.5 (3.2)
Current assets                
Trade accounts receivable, less allowance             (5.6) (4.3)
Inventories             (0.7) (0.9)
Prepaid expenses and other current assets             (5.9) (5.6)
Long-term assets                
Goodwill             0.2 0.2
Other intangible assets, net of amortization             (1.0) (0.7)
Other long-term assets             1.2  
Properties, plants and equipment                
Machinery and equipment             (1.4) (1.3)
Total assets             (13.2) (12.6)
Current liabilities                
Accounts payable             5.1 5.1
Long-term liabilities                
Other long-term liabilities             0.1 4.2
Shareholders' equity                
Retained earnings             (18.4) (21.9)
Total liabilities and shareholders' equity             $ (13.2) $ (12.6)
Restatement Adjustment [Member] | Class A common stock [Member]
               
Basic earnings per share attributable to Greif, Inc. common shareholders:                
EPS Basic   $ 0.05 $ 0.03 $ 0.07   $ 0.06 $ 0.06 $ (0.05)
Diluted earnings per share attributable to Greif, Inc. common shareholders:                
EPS Diluted   $ 0.05 $ 0.03 $ 0.07   $ 0.05 $ 0.06 $ (0.05)
Restatement Adjustment [Member] | Class B common stock [Member]
               
Basic earnings per share attributable to Greif, Inc. common shareholders:                
EPS Basic   $ 0.07 $ 0.04 $ 0.11   $ 0.08 $ 0.09 $ (0.09)
Diluted earnings per share attributable to Greif, Inc. common shareholders:                
EPS Diluted   $ 0.07 $ 0.04 $ 0.11   $ 0.08 $ 0.09 $ (0.09)