Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 20

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 included in the Company’s consolidated financial statements. However, because Greif Funding is a separate and distinct legal entity from the Company, the assets of Greif Funding are not available to satisfy the liabilities and obligations of the Company, Greif Packaging or other subsidiaries of the Company, and the liabilities of Greif Funding are not the liabilities or obligations of the Company or its other subsidiaries.Cooperage Receivables Finance B.V. and Greif Services Belgium BV, an indirect wholly owned subsidiary of Greif, Inc., are parties to an amended and restated Nieuw Amsterdam Receivables Financing Agreement (the “European RFA”) with affiliates of a major international bank. On April 19, 2024, the maturity date of the European RFA was extended to April 22, 2025. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($104.2 million as of January 31, 2025) secured by certain European accounts receivable. As of January 31, 2025, $77.8 million ($84.2 million as of October 31, 2024) was outstanding on the European RFA. The weighted average interest rate for borrowings under the European RFA was 4.32% for the three months ended January 31, 2025.

NOTE 6 — FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

Recurring Fair Value MeasurementsThe following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of January 31, 2025 and October 31, 2024:January 31, 2025AssetsLiabilities(in millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalInterest rate derivatives$— $41.5 $— $41.5 $— $(2.7)$— $(2.7)Foreign exchange hedges— 0.4 — 0.4 — (0.3)— (0.3)Insurance annuity— — 18.2 18.2 — — — — Cross currency swap— 5.3 — 5.3 — (4.6)— (4.6)October 31, 2024AssetsLiabilities(in millions)Level 1Level 2Level 3Total