Company: GEF
Filing Date: 2025-11-19
Form Type: 10-KT
Source: 0001628280-25-053146
Chunk: 49

Company: GREIF, INC
Filing Date: 2025-11-19
Form: 10-KT
Chunk 49
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#### Table of Contents

#### Income Tax Expense
We operated in over 35 countries during our fiscal year 2025. Our operations outside the United States are subject to additional risks that may not exist, or be as significant, within the United States. Operating globally requires us to navigate diverse and evolving tax systems.

A number of countries have enacted legislation to implement the Organization for Economic Co-operation and Development’s global minimum tax of 15% of reported profits (the “Pillar 2 taxes”). During 2023 and 2024, many countries began to incorporate the Pillar 2 taxes model rule concepts into their domestic laws. Although the model rules provide a framework for applying the minimum tax, countries may enact the Pillar 2 taxes slightly different than the model rules and on different timelines and may adjust domestic tax incentives in response to the Pillar 2 taxes. These changes did not have a material impact on our consolidated financial statements for 2025. We continue to evaluate the impacts of proposed and enacted legislation with respect to the global minimum tax regime in the jurisdictions in which we operate.

On July 4, 2025, H.R. 1, commonly known as the One Big Beautiful Bill Act (“OBBBA”), was enacted into law. The OBBBA permanently extends several major provisions of the Tax Cuts and Jobs Act of 2017, including 100% bonus depreciation, domestic research cost expensing, enhanced business interest deductibility, and modifications to the international tax framework. We have evaluated the impact of the OBBBA and determined that it does not have a material impact on our consolidated financial statements for 2025. Most provisions of the OBBBA, except for bonus depreciation, will not affect us until the 2026 fiscal year.

Preparation of our financial statements requires the use of estimates and assumptions that affect the reported amounts of our assets, liabilities, revenues and expenses. The numerous tax jurisdictions in which we operate, along with the variety and complexity of the various tax laws, creates a level of uncertainty and requires judgment when addressing the impact of complex tax issues. Our effective tax rate and the amount of tax expense are dependent upon various factors, including the following: the tax laws of the jurisdictions in which income is earned; the ability to realize deferred tax assets; negotiation and dispute resolution with taxing authorities in the U.S. and international jurisdictions; and changes in tax laws.

The provision for income taxes is computed using the asset and liability method. Under this method