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Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2025
Asset Acquisition [Abstract]  
Schedule of Purchase Consideration for the Greif Acquisition The following table summarizes the purchase consideration for the Greif Acquisition (in millions):

 

 

 

Amount

 

Cash paid for Greif Acquisition

 

$

1,804.7

 

Settlement of pre-existing relationships

 

 

(0.3

)

Total purchase consideration

 

$

1,804.4

 
Schedule of the Allocation of the Purchase Price to the Assets Acquired and the Liabilities Assumed The following table summarizes the allocation of the purchase price to the assets acquired and the liabilities assumed, based on our current estimates of the fair value at the date of acquisition (dollars in millions):

 

Current Assets:

 

 

 

Cash

 

$

0.1

 

Accounts receivable

 

 

97.6

 

Inventories

 

 

124.2

 

Prepaid expenses and other current assets

 

 

1.4

 

Total current assets

 

 

223.3

 

Property, plant, and equipment (a)

 

 

868.7

 

Operating lease right-of-use assets

 

 

57.0

 

Intangible assets (b):

 

 

 

Customer relationships

 

 

460.0

 

Trademarks

 

 

70.0

 

Goodwill (c)

 

 

277.4

 

Assets acquired

 

 

1,956.4

 

 

 

 

 

Accounts payable

 

 

70.1

 

Accrued liabilities

 

 

21.4

 

Current operating lease obligations

 

 

7.6

 

Long-term operating lease obligations

 

 

49.3

 

Long-term finance lease obligations

 

 

0.4

 

Other long-term liabilities

 

 

3.2

 

Liabilities assumed

 

 

152.0

 

 

 

 

 

Net assets acquired

 

$

1,804.4

 

 

(a)
Property, plant and equipment are being depreciated on a straight-line basis over their preliminary estimated useful lives ranging from one to 40 years.

 

(b)
We are amortizing intangible assets on a straight-line basis for customer relationships and trademarks over our preliminary estimates of their useful lives of 15 years and 10 years, respectively, in the Packaging segment.

 

(c)
Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. Goodwill generated from the acquisition is primarily attributable to expected synergies and the assembled workforce. Goodwill recognized in the transaction is deductible for tax purposes.