The interim condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions to Quarterly Reports on Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates.

The fiscal year of Greif, Inc. and its subsidiaries (the “Company”) begins on November 1 and ends on October 31 of the following year. Any references to the year 20182019 or 2017,2018, or to any quarter of those years, relates to the fiscal year or quarter, as the case may be, ended in that year.year, unless otherwise stated.

The information filed herein reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated balance sheets as of April 30, 20182019 and October 31, 2017,2018, the interim condensed consolidated statements of income and comprehensive income for the three and six months ended April 30, 2019 and 2018 and 2017 and the interim condensed consolidated statements of cash flows for the six months ended April 30, 20182019 and 20172018 of the Company. The interim condensed consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and consolidated subsidiaries and investments in limited liability companies, partnerships and joint ventures in which it has controlling influence or is the primary beneficiary. Non-majority owned entities include investments in limited liability companies, partnerships and joint ventures in which the Company does not have controlling influence and are accounted for using either the equity or cost method, as appropriate.

The unaudited interim condensed consolidated financial statements included in the Quarterly Report on Form 10-Q (this “Form 10-Q”) should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended October 31, 20172018 (the “2017“2018 Form 10-K”).

In March 2017,May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-07, "Compensation - Retirement Benefits (Topic 715)," which provides additional guidance in Accounting Standards Codification ("ASC") 715 for the presentation of net periodic benefit cost related to pension and post retirement benefits in the income statement and on the components eligible for capitalization in assets. This ASU requires the reporting of the service cost component to be in the same line item as other compensation costs arising from services rendered by the pertinent employees. Also, the other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. This update also allows only the service cost component to be eligible for capitalization when applicable. The update is effective for the Company on November 1, 2018 using a retrospective approach for the presentation of the service cost component and the other components of net periodic pension cost and net periodic post-retirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic post-retirement benefit in assets. The Company early adopted ASU 2017-07 on November 1, 2017 using a retrospective approach for each period presented. The impact of adoption for the three and six months ended April 30, 2018 was $1.8 million and $3.6 million, respectively, of net periodic benefit costs, other than the service cost components, being recorded in the line item other expense, net in the condensed consolidated statements of income. For the three and six month periods ended April 30, 2017, $1.1 million and $24.6 million, respectively, of pension settlement charges previously presented within operating profit has been presented outside of operating profit in the condensed consolidated statement of income due to the retrospective adoption of this ASU. The adoption did not have a material impact on the Company's financial position, results of operations, comprehensive income, cash flows or disclosures other than the impacts discussed above.

In August of 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230)," which amends the classification of certain cash receipts and cash payments on the statement of cash flows. This update clarifies guidance on eight specific cash flow items. The ASU requires the beneficial interests obtained through securitization of financial assets be disclosed as a non-cash activity and cash receipts from beneficial interests be classified as cash inflows from investing activities. Under previous guidance, the Company classified cash receipts from beneficial interests in securitized receivables and cash payments resulting from debt prepayment or extinguishment as cash flows from operating activities. The amendments in this update are required to be applied using a retrospective approach, excluding amendments for which retrospective application is impractical. On November 1, 2018, the Company adopted the provisions of ASU 2016-15 on a retrospective basis with the exception of the Company's beneficial interests obtained through securitization of financial assets, for which the Company adopted this update on a prospective basis due to the impracticality of the retrospective basis. The adoption of this update did not have a material impact on the Company's financial position, results of operations, comprehensive income, cash flows or disclosures for the periods presented.

In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which amends the lease accounting and disclosure requirements in ASC 840, "Leases"."Leases." The objective of this update is to increase transparency and comparability among organizations recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about lease arrangements. This ASU will require the recognition of lease assets and lease liabilities for those leases classified as operating leases under previous GAAP. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements (ASU 2018-11)," which permits companies to initially apply the new leases standard at the adoption date and not restate periods prior to adoption. The update is effective for the Company plans to adopt ASU 2018-11 on November 1, 2019, usingand as a modified retrospective approach.result, will not adjust its comparative period financial information or make the new required lease disclosures for periods before the effective date. The Company is currently in the process of collecting and evaluating all of its leases, which primarily consist of equipment and real estate leases, as well as implementing a technology tool to assist with the accounting and reporting requirements of the new standard. The Company also plans to update its processes and controls around leases. The Company will adopt the standard effective November 1, 2019 and expects to elect certain available transitional practical expedients. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flows and disclosures.

In 2012, Cooperage Receivables Finance B.V. (the “Main SPV”) and Greif Coordination Center BVBA, an indirect wholly owned subsidiary of Greif, Inc. (“Seller”), entered into the Nieuw Amsterdam Receivables Purchase Agreement (the “European RPA”) with affiliates of a major international bank (the “Purchasing Bank Affiliates”). On April 18, 2017,17, 2019, the Main SPV and Seller amended and extended the term of the existing European RPA.RPA through April 17, 2020. Under the European RPA, as amended, the maximum amount of receivables that may be sold and outstanding under the European RPA at any time is €100.0 million ($121.0111.5 million as of April 30,

Under the terms of the European RPA, the Company has agreed to sell trade receivables meeting certain eligibility requirements that the Seller had purchased from other indirect wholly-owned subsidiaries of the Company under a factoring agreement. ThePrior to November 1, 2018, the structure of the transactions provideprovided for a legal true sale, on a revolving basis, of the receivables transferred from the Company's various subsidiaries to the respective Purchasing Bank Affiliates. The purchaser funds an initial purchase price of a certain percentage of eligible receivables based on a formula, with the initial purchase price approximating 75 percent to 90 percent of eligible receivables. The remaining deferred purchase price is settled upon collection of the receivables. At the balance sheet reporting dates, the Company removes from accounts receivable the amount of proceeds received from the initial purchase price since they meet the applicable criteria of ASC 860, “Transfers and Servicing,” and the Company continues to recognize the deferred purchase price in prepaid expenses and other current assets or other current liabilities. The receivables are sold on a non-recourse basis with the total funds in the servicing collection accounts pledged to the banks between settlement dates.

In October 2007, Greif Singapore Pte. Ltd., an indirect wholly-owned subsidiary of Greif, Inc., entered into the Singapore Receivable Purchase Agreement (the “Singapore RPA”) with a major international bank. The maximum amount of aggregate receivables that may be financed under the Singapore RPA is 15.0 million Singapore Dollars ($11.311.0 million as of April 30, 2018)2019).

Under the terms of the Singapore RPA, the Company has agreed to sell trade receivables in exchange for an initial purchase price of approximately 90 percent of the eligible receivables. The remaining deferred purchase price is settled upon collection of the receivables.

The table below contains certain information relatedPrior to November 1, 2018, the Company’sCompany removed from accounts receivable sales programs:

Additionally, theThe Company performs collections and administrative functions on the receivables, sold,related to the both the European RPA and Singapore RPA, similar to the procedures it uses for collecting all of its receivables, including receivables that are not sold under the European RPA and the Singapore RPA.receivables. The servicing liability for these receivables is not material to the interim condensed consolidated financial statements.

As of April 30, 2018,2019, there were three asset groups within the Rigid Industrial Packaging & Services segment classified as assets held for sale, one asset group within the Paper Packaging & Services segment classified as assets held for sale, and two Corporate asset groups classified as assets held for sale. The assets held for sale are being marketed for sale, and it is the Company’s intention to complete the sales within twelve months following their initial classification as held for sale.

As of October 31, 2018, there were two asset groups in the Rigid Industrial Packaging & Services segment classified as assets held for sale and one asset group within the Paper Packaging & Services segment classified as assets held for sale. The

For the three months ended April 30, 2019, the Company recorded a gain on disposal of properties, plants and equipment, net of $4.9 million. This included disposals of assets held for sale are being marketed for sale, and it is the Company’s intention to complete the sales of these assets within twelve months following their initial classification as held for sale.

For the three months ended April 30, 2018, the Company recorded a gain on disposal of properties, plants and equipment, net of $1.5 million. This included disposals of assets in the Rigid Industrial Packaging & Services segment that resulted in gains of $1.1 million and special use property sales that resulted in gains of $0.4 million in the Land Management segment.

For the six months ended April 30, 2018, the Company recorded a gain on disposal of properties, plants and equipment, net of $6.1 million. This included disposals of assets in the Rigid Industrial Packaging & Services segment that resulted in gains of $4.5 million and special use property sales that resulted in gains of $1.6 million in the Land Management segment.

The following table summarizes the carrying amount of net other intangible assets by class as of April 30, 20182019 and October 31, 2017:2018:

Amortization expense for the three months ended April 30, 2019 and 2018 and 2017 was $3.9$14.7 million and $3.1$3.9 million, respectively. Amortization expense for the six months ended April 30, 2019 and 2018 and 2017 was $7.7$18.4 million and $6.9$7.7 million, respectively. Amortization expense for the next five years is expected to be $15.5 million in 2018, $15.2$52.5 million in 2019, $14.6$66.5 million in 2020, $12.9$64.1 million in 2021, and $8.9$56.8 million in 2022.2022 and $54.1 million in 2023.

Definite lived intangible assets for the periods presented are subject to amortization and are being amortized using the straight-line method over periods that are contractually, legally determined, or over the period a market participant would benefit from the asset.

The focus for restructuring activities in 20182019 is to optimize and integrate operations in the Paper, Packaging and Services segment related to the Caraustar Acquisition and continue to rationalize operations and close underperforming assets in the Rigid Industrial Packaging & Services and Flexible Products & Services segments.

During the three months ended April 30, 2018,2019, the Company recorded restructuring charges of $6.0$7.5 million, as compared to $5.1$6.0 million of restructuring charges recorded during the three months ended April 30, 2017.2018. The restructuring activity for the three months ended April 30, 20182019 consisted of $5.5$7.0 million in employee separation costs and $0.5 million in other restructuring costs.

During the six months ended April 30, 2018,2019, the Company recorded restructuring charges of $10.1$11.2 million, which comparesas compared to $4.8$10.1 million of restructuring charges recorded during the six months ended April 30, 2017.2018. The restructuring activity for the six months ended April 30, 20182019 consisted of $8.3$10.5 million in employee separation costs and $1.8$0.7 million in other restructuring costs.

The following is a reconciliation of the total amounts expected to be incurred from approved restructuring plans or plans that are being formulated and have not been announced as of the date of this Form 10-Q. Remaining amounts expected to be incurred are $15.4$24.4 million as of April 30, 20182019 compared to $14.9$12.0 million as of October 31, 2017.2018. The change was due to the costs incurred or otherwise settled, offset by the formulations of new plans during the period.

The Company evaluates whether an entity is a variable interest entity (“VIE”) whenever reconsideration events occur and performs reassessments of all VIEs quarterly to determine if the primary beneficiary status is appropriate. The Company consolidates VIEs for which it is the primary beneficiary. If the Company is not the primary beneficiary and an ownership interest is held, the VIE is accounted for under the equity or cost methods of accounting, as appropriate. When assessing the determination of the primary beneficiary, the Company considers all relevant facts and circumstances, including: the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE.

In 2010, Greif, Inc. and one of its indirect subsidiaries formed a joint venture (referred to herein as the “Flexible Packaging JV” or “FPS VIE”) with Dabbagh Group Holding Company Limited and one of its subsidiaries, originally National Scientific Company

Limited and now Gulf Refined Packaging for Industrial Packaging Company LTD. The Flexible Packaging JV owns the operations in the Flexible Products & Services segment. The Flexible Packaging JV has been consolidated into the operations of the Company as of its formation date in 2010.

The Flexible Packaging JV is deemed to be a VIE since the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support. The major factors that led to the conclusion that the Company was the primary beneficiary of this VIE waswere that (1) the Company has the power to direct the most significant activities due to its ability to direct the operating decisions of the FPS VIE, which power is derived from the significant CEO discretion over the operations of the FPS VIE combined with the Company’s sole and exclusive right to appoint the CEO of the FPS VIE, and (2) the significant variable interest through the Company’s equity interest in the FPS VIE.

All entities contributed to the Flexible Packaging JV were existing businesses acquired by one of the Company's indirect subsidiaries that were reorganized under Greif Flexibles Asset Holding B.V. and Greif Flexibles Trading Holding B.V.

The following table presents the Flexible Packaging JV total net assets:

Net income attributable to the noncontrolling interest in the Flexible Packaging JV for the three months ended April 30, 2019 and 2018 and 2017 was $4.4$5.2 million and $1.2$4.4 million, respectively; and for the six months ended April 30, 2019 and 2018 and 2017, net income attributable to the noncontrolling interest was $5.5$8.5 million and $1.8$5.5 million, respectively.

Long-term debt is summarized as follows:

On November 3, 2016,February 11, 2019, the Company and certain of its international subsidiaries entered into a newan amended and restated senior secured credit agreement (the “2017“2019 Credit Agreement”) with a syndicate of financial institutions. The 20172019 Credit Agreement amended, restated, and replaced in its entirety the $1.0 billionprior $800.0 million senior secured credit agreement entered into(the "2017 Credit Agreement"). The Company's obligations under the 2019 Credit Agreement are guaranteed by the Company and twocertain of its international subsidiaries in 2012 with a syndicate of financial institutions. The total available borrowing under the 2017 Credit Agreement was $670.7 million as of April 30, 2018, which has been reduced by $14.4 million for outstanding letters of credit, all of which was then available without violating covenants.U.S. subsidiaries.

The 20172019 Credit Agreement provides for (a) an $800.0 million secured revolving multicurrency credit facility, expiring November 3, 2021,consisting of a $600.0 million multicurrency facility and a $300.0$200.0 million U.S. dollar facility, maturing on February 11, 2024, (b) a $1,275.0 million secured term loan A-1 facility with quarterly principal installments that commencedcommencing on April 30, 2017,2019 and continuing through maturity on November 3, 2021, bothJanuary 31, 2024, and (c) a $400.0 million secured term loan A-2 facility with quarterly principal installments commencing on April 30, 2019 and continuing through maturity on January 31, 2026. In addition, the Company has an option to add an aggregate of $550.0$700.0 million to the facilities2019 Credit Agreement with the agreement of the lenders.

The Company used borrowings under the term loan on February2019 Credit Agreement, together with the net proceeds from the issuance of the Senior Notes due March 1, 2017,2027 (described below), to fund the purchase price of the Caraustar Acquisition, to redeem its $250.0 million Senior Notes due August 1, 2019 (the "Senior Notes due 2019"), to repay outstanding borrowings under the principal of the Company’s $300.0 million 6.75% Senior Notes that matured on that date. The revolving credit facility is available2017 Credit Agreement, to fund ongoing working capital and capital expenditure needs and for general corporate purposes, and to finance acquisitions.pay related fees and expenses. Interest is based on either a Eurodollar rate or a base rate that resets periodically plus a calculated margin amount. The financing costs associated withOn February 11, 2019, proceeds from borrowings under the 2019 Credit Agreement were used to pay the obligations outstanding under the 2017 Credit Agreement totaled $4.9 million as of April 30, 2018, and are recorded as a direct deduction from the long-term debt liability.Agreement.

The 20172019 Credit Agreement contains certain covenants, which include financial covenants that require the Company to maintain a certain leverage ratio and an interest coverage ratio. The leverage ratio generally requires that, at the end of any fiscal quarter, the Company will not permit the ratio of (a) its total consolidated indebtedness, to (b) the Company'sits consolidated net income plus depreciation, depletion and amortization, interest expense (including capitalized interest), and income taxes, and minus certain extraordinary gains and non-recurring gains (or plus certain extraordinary losses and non-recurring losses) and plus or minus certain other items for the preceding twelve months ("adjusted EBITDA"(as used in this paragraph only, “EBITDA”) to be greater than 4.75 to 1 and stepping down by 0.25 increments beginning on July 31, 2020 to 4.00 to 1.00 (or 3.75 to 1.00, during any collateral release period).on July 31, 2023. The interest coverage ratio generally requires that, at the end of any fiscal quarter, the Company will not permit the ratio of (a) adjustedits consolidated EBITDA, to (b) theits consolidated interest expense to the extent paid or payable, to be less than 3.00 to 1.00,1, during the applicable preceding twelve month period.

As of April 30, 2018, $396.22019, $1,974.1 million was outstanding under the 20172019 Credit Agreement. The current portion of the 2017 Credit Agreementsuch outstanding amount was $15.0$83.8 million and the long-term portion was $381.2$1,890.3 million. The weighted average interest rate for borrowings under the 20172019 Credit Agreement was 2.82%4.10% for the six months ended April 30, 2018.2019. The actual interest rate for borrowings under the 20172019 Credit Agreement was 3.11%4.22% as of April 30, 2018.

On July 15, 2011, Greif, Inc.’s wholly-owned subsidiary, Greif Nevada Holdings, Inc., S.C.S. issued €200.0 million of 7.375% Senior Notes due July 15, 2021. These2021 (the "Senior Notes due 2021"). The Senior Notes due 2021 are fully and unconditionally guaranteed on a senior basis by Greif, Inc. Interest on thesethe Senior Notes due 2021 is payable semi-annually.

On September 27, 2017,26, 2018, the Company amended and restated its existing subsidiary receivables facility in the United States which matured in September of 2017 to establish a $150.0 million United States Trade Accounts Receivable Credit Facility (the "Receivables"U.S. Receivables Facility") with a financial

institution. The U.S. Receivables Facility matures on September 26, 2018.2019. The $150.0 million outstanding balance under the U.S. Receivables Facility as of April 30, 20182019 is reported in long-term debt in the interim condensed consolidated balance sheets because the Company intends to refinance the obligation on a long-term basis and has the intent and ability to consummate a long-term refinancing.refinancing by exercising the renewal option in the agreement or entering into a new financing arrangement.

The following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 20182019 and October 31, 2017:2018:

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of April 30, 20182019 and October 31, 20172018 approximate their fair values because of the short-term nature of these items and are not included in this table.

The Company has various borrowing facilities which charge interest based on the one month U.S. dollar LIBOR rate plus an interest spread. DuringAs of April 30, 2019, the first quarterCompany entered into six interest rate swaps relating to the debt incurred during the quarter. These six interest rate swaps have a total notional amount of $1,300.0 million. The Company will begin to receive variable rate interest payments based upon one month U.S. dollar LIBOR, and in return the Company is obligated to pay interest at a weighted-average interest rate of 2.49% plus a spread.

In 2017, the Company entered into a forwardan interest rate swap with a notional amount of $300.0 million. As of February 1, 2017, the Company began to receive variable rate interest payments based upon one month U.S. dollar LIBOR, and in return the Company was obligated to pay interest at a fixed rate of 1.194%.1.19% plus an interest spread. This effectively converted the borrowing rate on $300.0 million of debt from a variable rate to a fixed rate. This derivative is

These derivatives are designated as a cash flow hedgehedges for accounting purposes. Accordingly, the gain or loss on thisthese derivative instrument isinstruments are reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transactiontransactions and in the same period during which the hedged transaction affectstransactions affect earnings. ForSee Note 15 to the interim condensed consolidated financial statements for additional disclosures of the gain or loss included within other comprehensive income, see also Note 15 to the interim condensed consolidated financial statements.income. The assumptions used in measuring fair value of thethese interest rate derivativederivatives are considered level 2 inputs, which are based upon observable market rates, including LIBOR and interest paid based upon a designated fixed rate over the life of the swap agreements.

Gains reclassified to earnings under these contracts were $0.4$0.9 million and $1.8 million for the three and six months ended April 30, 2018, and losses reclassified to earnings under these contracts were $0.3 million for the three months ended April 30, 2017.2019, respectively. Gains reclassified to earnings under these contracts were $0.4 million and $0.5 million for the three and six months ended April 30, 2018, and losses reclassified to earnings under these contracts were $0.3 million for the six months ended April 30, 2017.respectively. A derivative gain of $3.2$2.1 million, based upon interest rates at April 30, 2018,2019, is expected to be reclassified from accumulated other comprehensive income (loss) to earnings in the next twelve months.

The Company conducts business in various international currencies and is subject to risks associated with changing foreign exchange rates. The Company’s objective is to reduce volatility associated with foreign exchange rate changes. Accordingly, the Company enters into various contracts that change in value as foreign exchange rates change to protect the value of certain existing foreign currency assets and liabilities, commitments and anticipated foreign currency cash flows. As of April 30, 2018,2019, the Company had outstanding foreign currency forward contracts in the notional amount of $119.8$139.3 million ($80.1194.4 million as of October 31, 2017)2018). Adjustments to fair value are recognized in earnings, offsetting the impact of the hedged profits. The assumptions used in measuring fair value of foreign exchange hedges are considered level 2 inputs, which wereare based on observable market pricing for similar instruments, principally foreign exchange futures contracts.

Realized losses recorded in other expense, net under fair value contracts were $1.6$0.2 million and $0.3$1.6 million for the three months ended April 30, 20182019, and 2017,2018, respectively. Realized lossesgains (losses) recorded in other expense, net under fair value contracts were $2.1$0.6 million and $1.5$(2.1) million for the six months ended April 30, 20182019 and 2017,2018, respectively. The Company recognized in other expense, net an unrealized net gain (loss) of $(1.2) million and $2.0 million and zero during the three months ended April 30, 20182019 and 2017,2018, respectively. The Company recognized in other expense, net an unrealized net lossgain (loss) of $1.1$1.8 million and $1.5$(1.1) million during the six months ended April 30, 20182019 and 2017,2018, respectively.

The Company has operations and investments in various international locations and is subject to risks associated with changing foreign exchange rates. On March 6, 2018, the Company entered into a cross currency interest rate swap agreement that synthetically swaps $100.0 million of fixed rate debt to Euro denominated fixed rate debt at a rate of 2.352%2.35%. The agreement is designated as a net investment hedge for accounting purposes and will mature on March 6, 2023. Accordingly, the gain or loss on this derivative instrument is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted or liquidated. CouponsInterest payments received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the interim condensed consolidated statements of income. For the three and six months ended April 30, 2019, gains recorded in interest expense, net under the cross currency swap agreement were $0.6 million and $1.2 million. For the three and six months ended April 30, 2018, gains recorded in interest expense, net under the cross currency swap agreement were $0.4 million. ForSee Note 15 to the interim condensed consolidated financial statements for additional disclosure of the gain or loss included within other comprehensive income, see also Note 15 to the interim condensed consolidated financial statements.income. The assumptions used in measuring fair value of the cross currency swap are considered level 2 inputs, which are based upon the Euro to United States Dollar exchange rate market.

The fair values of the Company’s 2019 Credit Agreement, 2017 Credit Agreement, and the Receivables Facility do not materially differ from carrying value as the Company’s cost of borrowing is variable and approximates current borrowing rates. The fair values of the Company’s long-term obligations are estimated based on either the quoted market prices for the same or similar issues or the current interest rates offered for the debt of the same remaining maturities, which are considered level 2 inputs in accordance with ASC Topic 820, "Fair Value Measurements and Disclosures."

The following table presents the estimated fair values of the Company’s senior notes:Senior Notes and assets held by special purpose entities:

The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of long-lived assets held and used and net assets held for sale for the six months ended April 30, 20182019 and 2017:2018:

The Company recognized asset impairment charges of $3.3 million during the six months ended April 30, 2018 and $3.9 million for the six months ended April 30, 2017. As a result of the Company measuring long-lived assets at fair value on a non-recurring basis, during the six months ended April 30, 2018, the Company recorded no impairment charges related to properties, plants and equipment or intangibles, net ofduring the six months ended April 30, 2019 and $1.9 million related to properties, plants and chargesequipment, net and $1.4 million related to intangible assets, of $1.4 million innet during the Rigid Industrial Packaging & Services segment.six months ended April 30, 2018.

During the six month period ended April 30, 2018,2019, one asset group was reclassified to assets and liabilities held for sale, resulting in a $0.4 million impairment to net realizable value. During the six month period ended April 30, 2017, one asset group was reclassified to assets and liabilities held for sale, resulting in $3.6$2.1 million impairment to net realizable value.

The assumptions used in measuring fair value of assets and liabilities held for sale are considered level 3 inputs, which include recent purchase offers, market comparables and/or data obtained from commercial real estate brokers.

Income tax expense for the quarter and year to date was computed in accordance with ASC 740-270 "Income Taxes - Interim Reporting".Reporting." Under this method, losses from jurisdictions for which a valuation allowance havehas been provided have not been included in the amount to which the ASC 740-270 rate was applied. Income tax expense of the Company fluctuates primarily due to changes in losses

For the six months ended April 30, 2019, income tax expense was $31.5 million compared to $5.5 million for the six months ended April 30, 2018. The increase to income tax expense for the six months ended April 30, 2018,2019 was $5.5 million; whereas,primarily attributable to the income tax expense for the six months ended April 30, 2017, was $34.8 million.

The components of net periodic pension cost include the following:

TheContributions, including benefits paid directly by the Company, madeto the pension plans were $11.8 million and $13.5 million, and $5.1 million in pension contributions in the six months ended April 30, 20182019 and 2017,2018, respectively.

The components of net periodic cost for post-retirement benefits include the following:

The components of net periodic pension cost and net periodic cost for post-retirement benefits,benefit, other than the service cost components, are included in the line item "Other expense, net" in the interim condensed consolidated statements of income.