Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 15

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
 a change to the Company’s reporting units, which are aligned to the Company’s operating and reportable segments: Customized Polymer Solutions; Durable Metal Solutions; Sustainable Fiber Solutions; and Integrated Solutions. As a result of this segment realignment, the Company allocated goodwill to the reporting units existing under the new organizational structure on a relative fair value basis as of the first quarter of 2025.

12

In conjunction with the goodwill allocation described above, the Company tested its reporting units for potential impairment immediately before and after the segment realignment and concluded that the estimated fair value of each reporting unit exceeded its respective carrying value.The following table summarizes the changes in the carrying amount of goodwill by segment for the three months ended January 31, 2025:(in millions)Global IndustrialPackagingPaperPackaging & ServicesCustomized Polymer SolutionsDurable Metal SolutionsSustainable Fiber SolutionsIntegrated SolutionsTotalBalance at October 31, 2024$1,148.3 $805.4 $— $— $— $— $1,953.7 Segment recast(1,148.3)(805.4)607.9 401.8 774.1 169.9 — Goodwill acquired— — 11.2 — — — 11.2 Currency translation— — (10.1)(10.9)— (2.3)(23.3)Balance at January 31, 2025$— $— $609.0 $390.9 $774.1 $167.6 $1,941.6 

NOTE 4 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the three months ended January 31, 2025:(in millions)EmployeeSeparationCostsOtherCostsTotalBalance at October 31, 2024$4.8 $0.1 $4.9 Costs incurred and charged to expense2.0 0.7 2.7 Costs paid or otherwise settled(2.2)(0.5)(2.7)Balance at January 31, 2025$4.6 $0.3 $4.9 The focus for restructuring activities in 2025 is to optimize operations to manage a historical period of industrial activity contraction while simultaneously transforming the Company’s internal processes and portfolio mix for optimal alignment to long-term