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ACQUISITIONS AND DIVESTITURES (Tables)
9 Months Ended
Jul. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations
The following table presents results of operations of the Containerboard Business from discontinued operations:
Three Months Ended
July 31,
Nine Months Ended
July 31,
(in millions)2025202420252024
Net sales$317.2 $289.3 $871.6 $783.1 
Cost of products sold250.6 243.8 694.6 672.2 
Gross profit66.6 45.5 177.0 110.9 
Selling, general and administrative expenses12.3 11.2 33.7 33.4 
Loss on disposal of businesses, net1.2 — 1.2 — 
Operating profit53.1 34.3 142.1 77.5 
Interest expense, net20.2 22.5 61.0 66.3 
Income from discontinued operations before income tax expense and equity earnings of unconsolidated affiliates, net32.9 11.8 81.1 11.2 
Income tax expense (benefit)8.2 2.7 19.6 (1.0)
Net income from discontinued operations24.7 9.1 61.5 12.2 
Net income from discontinued operations attributable to Greif, Inc.$24.7 $9.1 $61.5 $12.2 
The following tables present assets and liabilities of the Containerboard Business from discontinued operations classified as held for sale:
(in millions)July 31,
2025
October 31,
2024
ASSETS
Trade accounts receivable, net of allowance$112.9 $108.2 
Inventories89.7 71.4 
Other current assets21.7 19.7 
Total current assets from discontinued operations224.3 199.3 
Goodwill298.2 298.2 
Other intangible assets, net of amortization4.3 4.4 
Operating lease right-of-use assets60.5 65.7 
Other long-term assets0.8 0.9 
Total long-term assets from discontinued operations363.8 369.2 
Land16.7 16.7 
Buildings109.7 108.6 
Machinery and equipment658.7 646.5 
Capital projects in progress28.1 17.8 
813.2 789.6 
Accumulated depreciation(545.1)(520.5)
Total properties, plants and equipment, net from discontinued operations268.1 269.1 
Total assets from discontinued operations classified as held for sale$856.2 $837.6 
LIABILITIES
Accounts payable$83.5 $63.3 
Accrued payroll and employee benefits16.7 15.1 
Current portion of operating lease liabilities8.9 9.6 
Other current liabilities12.8 13.0 
Total current liabilities from discontinued operations121.9 101.0 
Operating lease liabilities51.2 55.8 
Contingent liabilities and environmental reserves2.6 2.6 
Other long-term liabilities0.7 1.4 
Total long-term liabilities from discontinued operations54.5 59.8 
Total liabilities from discontinued operations classified as held for sale$176.4 $160.8 
The following table presents depreciation, amortization, and capital expenditures of the Containerboard Business from discontinued operations:
 Three Months Ended
July 31,
Nine Months Ended
July 31,
(in millions)2025202420252024
Depreciation and amortization$5.9 $8.1 $24.2 $24.8 
Capital expenditures10.4 16.5 21.0 43.3 
The Company had no other material noncash operating and investing activities related to the discontinued operations.
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the consideration transferred to acquire Ipackchem and the final valuation of identifiable assets acquired and liabilities assumed at the acquisition date:
(in millions)Amounts Recognized as of the Acquisition DateMeasurement Period AdjustmentsAmount 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 receivable50.9 — 50.9 
Inventories36.7 — 36.7 
Other current assets4.9 (0.6)4.3 
Intangibles231.7 1.4 233.1 
Operating lease right-of-use assets15.1 2.4 17.5 
Finance lease right-of-use assets8.2 2.2 10.4 
Other long-term assets1.0 — 1.0 
Properties, plants and equipment91.5 (2.9)88.6 
Total assets acquired
454.5 2.5 457.0 
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)(1.5)(63.6)
Other long-term liabilities(5.3)(2.5)(7.8)
Total liabilities assumed
(148.2)(7.7)(155.9)
Total identifiable net assets$306.3 (5.2)301.1 
Goodwill$275.8 $5.2 $281.0 
Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived The following table summarizes the final purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:
(in millions)Purchase Price AllocationWeighted Average Estimated Useful Life
Customer relationships$183.8 13.5
Developed technology39.0 8.0
Trademarks10.3 5.0
Total intangible assets$233.1 
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.
Three Months Ended
July 31,
Nine Months Ended
July 31,
(in millions, except per share amounts)20242024
Pro forma net sales$1,454.2 $4,120.0 
Pro forma net income attributable to Greif, Inc.87.1 224.3 
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock$1.51 $3.89 
Class B common stock$2.26 $5.83 
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock$1.50 $3.88 
Class B common stock$2.26 $5.83