Company: GEF
Filing Date: 2025-06-05
Form Type: 10-Q
Source: 0000043920-25-000025
Chunk: 21

Company: GREIF, INC
Filing Date: 2025-06-05
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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:(in millions)Global IndustrialPackagingPaperPackaging & ServicesCustomized Polymer SolutionsDurable Metal SolutionsSustainable Fiber SolutionsIntegrated SolutionsTotalBalance at October 31, 2024$1,148.3 $805.4 $— $— $— $— $1,953.7 Segment recast(1,148.3)(805.4)607.9 401.8 774.1 169.9 — Goodwill acquired / Measurement period adjustment— — (9.1)— — — (9.1)Currency translation— — 24.6 11.6 — 6.6 42.8 Balance at April 30, 2025$— $— $623.4 $413.4 $774.1 $176.5 $1,987.4 

NOTE 4 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2025:(in millions)EmployeeSeparationCostsOtherCostsTotalBalance at October 31, 2024$4.8 $0.1 $4.9 Costs incurred and charged to expense10.6 3.3 13.9 Costs paid or otherwise settled(3.9)(3.2)(7.1)Balance at April 30, 2025$11.5 $0.2 $11.7 The focus for restructuring activities in 2025 is to optimize operations to manage a historical period of industrial activity contraction while simultaneously transforming the Company’s internal processes and portfolio mix for optimal alignment to long-term profitable earnings growth.During the three months ended April 30, 2025, the Company recorded restructuring charges of $11.2 million, as compared to $(6.8) million of restructuring charges recorded during the three months ended April 30, 2024. The restructuring activity for the three months ended April 30, 2025 consisted of $8.6 million in employee separation costs and $2.6 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.During the six months ended April 30, 2025, the Company recorded restructuring charges of $13.9 million, as compared to $(1.1) million of restructuring charges recorded during the