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ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Oct. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred to acquire Ipackchem and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:

(in millions)			Amounts Recognized as of the Acquisition Date			Measurement Period Adjustments			Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration			$	582.1		$	—		$	582.1
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents			$	14.5		$	—		$	14.5
Accounts receivable			50.9			—			50.9
Inventories			36.7			—			36.7
Other current assets			4.9			(0.6)			4.3
Intangibles			231.7			1.4			233.1
Operating lease right-of-use assets			15.1			2.4			17.5
Finance lease right-of-use assets			8.2			2.2			10.4
Other long-term assets			1.0			—			1.0
Properties, plants and equipment			91.5			(6.5)			85.0
Total assets acquired			454.5			(1.1)			453.4
Accounts payable			(17.2)			—			(17.2)
Short-term borrowings			(26.2)			—			(26.2)
Other current liabilities			(13.2)			0.1			(13.1)
Operating lease liabilities			(14.2)			(3.3)			(17.5)
Finance lease liabilities			(10.0)			(0.5)			(10.5)
Long-term deferred tax liability			(62.1)			6.4			(55.7)
Other long-term liabilities			(5.3)			(2.0)			(7.3)
Total liabilities assumed			(148.2)			0.7			(147.5)
Total identifiable net assets			$	306.3		(0.4)			305.9
Goodwill			$	275.8		$	0.4		$	276.2

The following table summarizes the consideration transferred to acquire ColePak and the valuation of identifiable assets acquired and liabilities assumed at the acquisition date:

(in millions)			Amounts Recognized as of the Acquisition Date			Measurement Period Adjustments			Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration			$	74.6		$	—		$	74.6
Noncontrolling interest			72.1			—			72.1
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			$	6.7		$	—		$	6.7
Inventories			3.3			—			3.3
Intangibles			59.0			—			59.0
Operating lease right-of use assets			8.6			—			8.6
Properties, plants and equipment			19.4			—			19.4
Total assets acquired			97.0			—			97.0
Accounts payable and other current liabilities			(1.8)			—			(1.8)
Operating lease liabilities			(8.6)			—			(8.6)
Total liabilities assumed			(10.4)			—			(10.4)
Total identifiable net assets			$	86.6		$	—		$	86.6
Goodwill			$	60.1		$	—		$	60.1

The following table summarizes the consideration transferred to acquire Centurion and the valuation of identifiable assets acquired and liabilities assumed at the acquisition date:

(in millions)			Amounts Recognized as of the Acquisition Date			Measurement Period Adjustments			Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration			$	144.5		$	—		$	144.5
Noncontrolling interest			40.9			—			40.9
Previously held interest			16.8			—			16.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			$	12.4		$	—		$	12.4
Inventories			2.0			—			2.0
Prepaid and other current assets			0.4			—			0.4
Intangibles			83.4			9.4			92.8
Operating lease assets			10.2			—			10.2
Properties, plants and equipment			7.7			—			7.7
Total assets acquired			116.1			9.4			125.5
Accounts payable			(4.2)			—			(4.2)
Other current liabilities			(4.3)			—			(4.3)
Operating lease liabilities			(10.2)			—			(10.2)
Total liabilities assumed			(18.7)			—			(18.7)
Total identifiable net assets			$	97.4		$	9.4		$	106.8
Goodwill			$	104.8		$	(9.4)		$	95.4

The following table summarizes the consideration transferred to acquire Lee Container and the valuation of identifiable assets acquired and liabilities assumed at the acquisition date:

(in millions)			Amounts Recognized as of the Acquisition Date			Measurement Period Adjustments			Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration			$	302.8		$	0.2		$	303.0
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			$	21.9		$	(0.4)		$	21.5
Inventories			27.5			(5.2)			22.3
Prepaid and other current assets			0.5			—			0.5
Intangibles			133.5			—			133.5
Finance lease assets			32.4			1.0			33.4
Properties, plants and equipment			54.7			—			54.7
Total assets acquired			270.5			(4.6)			265.9
Accounts payable			(3.9)			—			(3.9)
Accrued payroll and employee benefits			(1.3)			—			(1.3)
Other current liabilities			(3.1)			2.9			(0.2)
Finance lease liabilities			(30.6)			(2.8)			(33.4)
Total liabilities assumed			(38.9)			0.1			(38.8)
Total identifiable net assets			$	231.6		(4.5)			227.1
Goodwill			$	71.2		$	4.7		$	75.9

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:

(in millions)			Purchase Price Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	183.8		13.5
Developed technology			39.0			8.0
Trademarks			10.3			5.0
Total intangible assets			$	233.1

The following table summarizes the purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:

(in millions)			Purchase Price Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	50.6		15.0
Trademarks			8.4			5.0
Total intangible assets			$	59.0

The following table summarizes the purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:

(in millions)			Purchase Price Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	77.5		12.0
Favorable leases			1.6			19.0
Trademarks			13.7			5.0
Total intangible assets			$	92.8

The following table summarizes the purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:

(in millions)			Purchase Price Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	120.0		15.0
Trademarks			13.5			5.0
Total intangible assets			$	133.5

Schedule of Business Acquisition, Pro Forma Information

The following unaudited supplemental pro forma data presents consolidated information as if the Ipackchem Acquisition had been completed on November 1, 2022. These amounts were calculated after adjusting Ipackchem’s results to reflect interest expense incurred on the debt to finance the acquisition, additional depreciation and amortization that would have been charged assuming the fair value of property, plant and equipment and intangible assets had been applied from November 1, 2022, the adjusted income tax expense, and related transaction costs.

									Twelve Months Ended October 31,
(in millions, except per share amounts)															2024						2023
Pro forma net sales															$	5,537.0					$	5,439.5
Pro forma net income attributable to Greif, Inc.															289.0						354.6
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock															$	5.01					$	6.14
Class B common stock															$	7.50					$	9.20
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock															$	4.98					$	6.07
Class B common stock															$	7.50					$	9.20

The following unaudited supplemental pro forma data presents consolidated information as if the ColePak Acquisition, Centurion Acquisition and Lee Container Acquisition had been completed on November 1, 2021. These amounts were calculated after adjusting ColePak’s, Centurion’s and Lee Container’s results to reflect interest expense incurred on the debt to finance the acquisitions, additional depreciation and amortization that would have been charged assuming the fair value of property, plant and equipment and intangible assets had been applied from November 1, 2021, the adjusted tax expense, and related transaction costs.

												Twelve Months Ended October 31,
(in millions, except per share amounts)																					2023
Pro forma net sales																					$	5,276.5
Pro forma net income attributable to Greif, Inc.																					361.0
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock																					$	6.25
Class B common stock																					$	9.36
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock																					$	6.18
Class B common stock																					$	9.36

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
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Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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