Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 55

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 acquired and liabilities assumedCash and cash equivalents$14.5 $— $14.5 Accounts receivable50.9 — 50.9 Inventories36.7 — 36.7 Other current assets4.9 (0.6)4.3 Intangibles231.7 1.4 233.1 Operating lease right-of-use assets15.1 2.4 17.5 Finance lease right-of-use assets8.2 2.2 10.4 Other long-term assets1.0 — 1.0 Properties, plants and equipment91.5 (2.9)88.6 Total assets acquired454.5 2.5 457.0 Accounts payable(17.2)— (17.2)Short-term borrowings(26.2)— (26.2)Other current liabilities(13.2)0.1 (13.1)Operating lease liabilities(14.2)(3.3)(17.5)Finance lease liabilities(10.0)(0.5)(10.5)Long-term deferred tax liability(62.1)(0.5)(62.6)Other long-term liabilities(5.3)(2.5)(7.8)Total liabilities assumed(148.2)(6.7)(154.9)Total identifiable net assets$306.3 (4.2)302.1 Goodwill$275.8 $4.2 $280.0 The Company recognized goodwill related to this acquisition of $280.0 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expected synergies and economies of scale, none of which qualify for recognition as a separate intangible asset. Ipackchem is reported within the Customized Polymer Solutions segment to which the goodwill was assigned. The goodwill is not expected to be deductible for tax purposes.The cost approach was used to determine the fair value for land, building, improvements and equipment. The cost approach measures the value by estimating the cost to acquire, or construct, comparable assets and adjusts for age and condition. The Company assigned to land use rights, building and improvements a useful life ranging from 1 year to 21 years and equipment a useful life ranging from 1 year to 10 years. Acquired property, plant and equipment are being depreciated over their estimated remaining useful lives on a