Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 138

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 2
Chunk 138
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 cash used in investing activities(31.7)(662.6)Net cash (used in) provided by financing activities(53.7)584.9 Effects of exchange rates on cash34.8 0.8 Net increase in cash and cash equivalents55.0 15.1 Cash and cash equivalents at beginning of year197.7 180.9 Cash and cash equivalents at end of period$252.7 $196.0 

Operating Activities

During the first six months of 2025 and 2024, cash used in change in accounts receivable was $(42.7) million and $(65.9) million, respectively. The favorable change in accounts receivable levels was primarily due to increased collection contributed from an increase in net sales.

During the first six months of 2025 and 2024, cash used in change in inventories was $(23.6) million and $(37.5) million, respectively. The favorable change in inventories was primarily due to decrease in raw material prices.

During the first six months of 2025 and 2024, cash provided by change in accounts payable was $3.3 million and $49.1 million, respectively. The unfavorable change in accounts payable levels was primarily due to increase in purchases primarily related to acquisitions and timing of payments.

38

Investing Activities

During the first six months of 2025 and 2024, we invested $65.7 million and $96.6 million, respectively, of cash in capital expenditures.

During the first six months of 2025, we received $22.5 million proceeds from a cash settlement of certain cross-currency swap contracts, of which $11.5 million 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.

During the first six months of 2024, we paid $567.6 million for purchases of businesses, net of cash acquired, primarily for the Ipackchem Acquisition.

Financing Activities

During the first six months of 2025 and 2024, we paid cash dividends to our stockholders in the amount of $62.4 million and $59.7 million, respectively.

During the first six months of 2025 and 2024, we borrowed $25.4 million and $670.3 million of debt, net of payments, respectively. The 2024 borrowing was primarily