Company: GEF
Filing Date: 2025-11-19
Form Type: 10-KT
Source: 0001628280-25-053146
Chunk: 117

Company: GREIF, INC
Filing Date: 2025-11-19
Form: 10-KT
Chunk 117
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 given current and expected allocations. The Company uses published mortality tables for determining the expected lives of plan participants and believes that the tables selected are most-closely associated with the expected lives of plan participants as the tables are based on the country in which the participant is employed.

Based on the Company’s analysis of future expectations of asset performance, past return results and its current and expected asset allocations, the Company has assumed a 5.58% long-term expected return on those assets for cost recognition in 2025. For the defined benefit pension plans, the Company applies its expected rate of return to a market-related value of assets, which stabilizes variability in the amounts to which the Company applies that expected return.

The Company amortizes experience gains and losses as well as the effects of changes in actuarial assumptions and plan provisions over a period no longer than the average future service of employees.

During the year ended September 30, 2025 (11 months), the Company sold the Containerboard Business and decided to freeze benefit accruals for certain union and non-union participants in the United States pension plan effective December 31 2025. The curtailment item described above resulted in a reduction to the projected benefit obligation, as well as accumulated other comprehensive loss by $ 11.2million.

During the year ended October 31, 2023, plan assets of $ 7.7million were used to purchase $ 5.9million in annuity contracts and pay $ 1.8million in lump sums to retirees to settle the pension obligation and close the Canada pension plans. The settlement items described above resulted in non-cash pension settlement charges of $ 3.5million of unrecognized net actuarial loss included in accumulated other comprehensive loss for the year ended October 31, 2023.

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Benefit Obligations

The components of net periodic pension cost include the following:

| For the year ended September 30, 2025 (11-month) |     |              |       |     |               |       |     |               |       |
|:-------------------------------------------------|:----|:-------------|------:|:----|:--------------|------:|:----|:--------------|------:|
| (in millions)                                    |     | Consolidated |       |     | United States |       |     | International |       |
| Service cost                                     |     | $            |   5.0 |     | $