Company: GEF
Filing Date: 2025-11-19
Form Type: 10-KT
Source: 0001628280-25-053146
Chunk: 112

Company: GREIF, INC
Filing Date: 2025-11-19
Form: 10-KT
Chunk 112
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     |               |   29.9 |     |             |  25.3 |
| Pension liabilities                            |     |               |    7.8 |     |             |   8.9 |
| Other                                          |     |               |   25.1 |     |             |  26.1 |
| Total deferred tax liabilities                 |     |               |  460.5 |     |             | 525.4 |
| Net deferred tax liability                     |     | $             |  223.7 |     | $           | 258.2 |

As of September 30, 2025 and October 31, 2024, the Company had deferred income tax benefits of $ 130.0million and $ 126.5million, respectively, from net operating losses and other tax credit carryforwards. For the fiscal year ended September 30, 2025 (11-month), these losses and carryforwards consist of $ 22.6million, $ 3.3million and $ 104.1million in U.S. Federal, U.S. state and non-U.S. jurisdictions, respectively. For the fiscal year ended October 31, 2024, these losses and carryforwards consist of $ 19.5million, $ 10.2million and $ 96.8million in U.S. Federal, U.S. state and non-U.S. jurisdictions, respectively. The Company has recorded valuation allowances of $ 87.9million and $ 65.2million against non-U.S. deferred tax assets as of September 30, 2025 and October 31, 2024, respectively. The Company has also recorded valuation allowances against U.S. deferred tax assets of $ 25.4million and $ 22.2million, as of September 30, 2025 and October 31, 2024, respectively. The Company had net changes in valuation allowances in 2025 of $ 25.9million, primarily from increases in valuation allowance in certain foreign jurisdictions.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

|                                                          | (in millions) |   | 2025 |     |   | 2024 |     |   | 2023 |
|:---------------------------------------------------------|:--------------|:--|-----:|:----|:--|-----:|:----|:--|-----:|
| Balance of unrecognized tax benefit