Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 24

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 inputs in accordance with Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures.”Non-Recurring Fair Value MeasurementsThe following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of long-lived assets held and used and net assets held for sale for the three months ended January 31, 2025 and 2024: Quantitative Information about Level 3Fair Value Measurements(in millions)Impairment AmountValuationTechniqueUnobservableInputRange ofInputValuesJanuary 31, 2025Long Lived Assets$13.7 Discounted Cash Flows; Indicative BidsDiscounted Cash Flows; Indicative BidsN/ATotal$13.7 January 31, 2024Long Lived Assets$1.3 Discounted Cash Flows; Indicative BidsDiscounted Cash Flows; Indicative BidsN/ATotal$1.3 For three months ended January 31, 2025, the Company wrote down long-lived assets with a carrying value of $34.3 million to a fair value of $20.6 million, resulting in recognized asset impairment charges of $13.7 million. These charges include $1.5 million related to properties, plants and equipment, net, in the Durable Metal Solutions reportable segment and $12.2 million related to properties, plants and equipment, net, in the Sustainable Fiber Solutions reportable segment.For three months ended January 31, 2024, the Company wrote down long-lived assets with a carrying value of $1.3 million to a fair value of $0.0 million, resulting in recognized asset impairment charges of $1.3 million. These charges include $1.3 million related to properties, plants and equipment, net, in the Sustainable Fiber Solutions reportable segment.The assumptions used in measuring fair value of long-lived assets are considered level 3 inputs, which include bids received from third parties, recent purchase offers, market comparable information, and discounted cash flows based on assumptions that market participants would use.

NOTE 7 – STOCK-BASED COMPENSATION

Long-Term Incentive PlanThe Company granted 123,800 restricted stock units (“RSUs”) on December 13, 2024, for the performance period commencing on November 1, 2024 and ending September 30, 2027. The weighted average fair