Company: GEF
Filing Date: 2025-08-28
Form Type: 10-Q
Source: 0000043920-25-000048
Chunk: 31

Company: GREIF, INC
Filing Date: 2025-08-28
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 related to cross-currency swap contracts designated as net investment hedges and $11.0 million related to cross-currency swap contracts designated as cash flow hedges.The net investment hedges that were settled resulted in a final gain of $11.3 million, which is included in the foreign currency translation component of other comprehensive income (“OCI”) and the final OCI balance on these transactions is maintained on the balance sheet until the underlying hedged subsidiary is either sold or substantially liquidated. For the cash flow hedges that were settled, the gain will be recognized to income, through interest expense, over time through an amortization of the remaining OCI balance at termination. This OCI balance amounted to $1.8 million and will be recognized on a straight-line basis to the income statement through the transaction’s original maturity date of October 5, 2026.Other Financial InstrumentsThe fair values of the Company’s 2022 Credit Agreement, the 2023 Credit Agreement, the U.S. RFA, and the European RFA do not materially differ from carrying value as the Company’s cost of borrowing is variable and approximates current borrowing rates. The fair values of the Company’s long-term obligations are estimated based on either the quoted market prices for the same or similar issues or the current interest rates offered for the debt of the same remaining maturities, which are considered level 2 inputs in accordance with Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures.”Non-Recurring Fair Value MeasurementsThe following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of long-lived assets held and used and net assets held for sale for the nine months ended July 31, 2025 and 2024: Quantitative Information about Level 3Fair Value Measurements(in millions)Impairment AmountValuationTechniqueUnobservableInputRange ofInputValuesJuly 31, 2025Net Assets Held for Sale$4.7 Indicative BidsIndicative BidsN/ALong Lived Assets$23.1 Discounted Cash Flows; Indicative BidsDiscounted Cash Flows; Indicative BidsN/ATotal$27.8 July 31, 2024Long Lived Assets$1.9 Discounted Cash Flows; Indicative BidsDiscounted Cash Flows; Indicative BidsN/ATotal$1.9 For nine months ended July 31