Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 72

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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— 24.6 11.6 — 6.6 42.8 Balance at April 30, 2025$— $— $623.4 $413.4 $774.1 $176.5 $1,987.4 

NOTE 4 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2025:(in millions)EmployeeSeparationCostsOtherCostsTotalBalance at October 31, 2024$4.8 $0.1 $4.9 Costs incurred and charged to expense10.6 3.3 13.9 Costs paid or otherwise settled(3.9)(3.2)(7.1)Balance at April 30, 2025$11.5 $0.2 $11.7 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 profitable earnings growth.During the three months ended April 30, 2025, the Company recorded restructuring charges of $11.2 million, as compared to $(6.8) million of restructuring charges recorded during the three months ended April 30, 2024. The restructuring activity for the three months ended April 30, 2025 consisted of $8.6 million in employee separation costs and $2.6 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.During the six months ended April 30, 2025, the Company recorded restructuring charges of $13.9 million, as compared to $(1.1) million of restructuring charges recorded during the six months ended April 30, 2024. The restructuring activity for the six months ended April 30, 2025 consisted of $10.6 million in employee separation costs and $3.3 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

14

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the filing date of this Form 10-Q. Remaining amounts expected to be incurred were $25.9 million as of April 30, 2025:(in millions)Total Amount