Equity and Comprehensive Income (Loss)

6 Months Ended

Apr. 30, 2015

Equity [Abstract]

Equity and Comprehensive Income (Loss)

NOTE 16 —EQUITY AND COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes of Equity from October 31, 2014 to April 30, 2015 (Dollars in millions, shares in thousands):

	Capital Stock				Treasury Stock						Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Greif, Inc. Equity			Non controlling interests			Total Equity
	Common Shares		Amount		Treasury Shares			Amount
As of October 31, 2014		47,724	$	135.5		29,118		$	(130.7	)	$	1,411.7		$	(274.4	)	$	1,142.1		$	81.1		$	1,223.2
Net income												50.9						50.9			(2.2	)		48.7
Other comprehensive loss:
- foreign currency translation															(91.2	)		(91.2	)		(23.9	)		(115.1	)
- Net reclassification of cash flow hedges to earnings, net of immaterial income tax benefit															0.1			0.1						0.1
- minimum pension liability adjustment, net of income tax expense of $2.4 million															6.4			6.4						6.4
Comprehensive loss																		(33.8	)					(59.9	)
Acquisition of noncontrolling interests and other												(0.4	)					(0.4	)		(13.4	)		(13.8	)
Dividends paid												(49.2	)					(49.2	)					(49.2	)
Stock options exercised		10		0.2		(10	)		—									0.2						0.2
Restricted stock issued to executives and directors		26		1.1		(26	)		—									1.1						1.1
Long-term incentive shares issued		49		2.0		(49	)		0.1									2.1						2.1
As of April 30, 2015		47,809	$	138.8		29,033		$	(130.6	)	$	1,413.0		$	(359.1	)	$	1,062.1		$	41.6		$	1,103.7

The following table summarizes the changes of Equity from October 31, 2013 to April 30, 2014 (Dollars in millions, shares in thousands):

	Capital Stock				Treasury Stock						Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Greif, Inc. Equity			Non controlling interests			Total Equity
	Common Shares		Amount		Treasury Shares			Amount
As of October 31, 2013		47,577	$	129.4		29,265		$	(131.0	)	$	1,418.8		$	(152.6	)	$	1,264.6		$	115.3		$	1,379.9
Net income												69.1						69.1			(0.2	)		68.9
Other comprehensive income:
- foreign currency translation															(25.6	)		(25.6	)		2.5			(23.1	)
- Net reclassification of cash flow hedges to earnings, net of income tax benefit of $0.1 million															0.2			0.2						0.2
- minimum pension liability adjustment, net of income tax benefit of $0.3 million															(0.9	)		(0.9	)					(0.9	)
Comprehensive Income																		42.8						45.1
Noncontrolling interests, loan conversion and other												(1.4	)					(1.4	)		15.1			13.7
Dividends paid												(49.1	)					(49.1	)					(49.1	)
Stock options exercised		18		0.5		(18	)		—									0.5						0.5
Restricted stock executives and directors		22		1.1		(22	)		0.1									1.2						1.2
Long-term incentive shares issued		56		2.9		(56	)		0.1									3.0						3.0
As of April 30, 2014		47,673	$	133.9		29,169		$	(130.8	)	$	1,437.4		$	(178.9	)	$	1,261.6		$	132.7		$	1,394.3

The following table provides the rollforward of accumulated other comprehensive income for the six months ended April 30, 2015 (Dollars in millions):

	Foreign Currency Translation			Cash Flow Hedges			Minimum Pension Liability Adjustment			Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2014	$	(144.5	)	$	(0.1	)	$	(129.8	)	$	(274.4	)
Other Comprehensive Income (Loss) Before Reclassifications		(91.2	)		—			6.4			(84.8	)
Amounts reclassified from Accumulated Other Comprehensive Loss		—			0.1			—			0.1
Current-period Other Comprehensive Income (Loss)		(91.2	)		0.1			6.4			(84.7	)
Balance as of April 30, 2015	$	(235.7	)	$	—		$	(123.4	)	$	(359.1	)

The following table provides the rollforward of accumulated other comprehensive income for the six months ended April 30, 2014 (Dollars in millions):

	Foreign Currency Translation			Cash Flow Hedges			Minimum Pension Liability Adjustment			Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2013	$	(56.9	)	$	(0.6	)	$	(95.1	)	$	(152.6	)
Other Comprehensive Income (Loss) Before Reclassifications		(25.6	)		(0.1	)		(0.9	)		(26.6	)
Amounts reclassified from Accumulated Other Comprehensive Loss		—			0.3			—			0.3
Current-period Other Comprehensive Income (Loss)		(25.6	)		0.2			(0.9	)		(26.3	)
Balance as of April 30, 2014	$	(82.5	)	$	(0.4	)	$	(96.0	)	$	(178.9	)

The components of accumulated other comprehensive income above are presented net of tax, as applicable.

The following table provides amounts reclassified out of accumulated other comprehensive income for the six months ended April 30 (Dollars in millions):

Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)				Location on Consolidated Consolidated Statements of Income
	2015		2014
Cash Flow Hedges	$	0.1	$	0.3	Other expense, net