Company: GEF
Filing Date: 2025-11-19
Form Type: 10-KT
Source: 0001628280-25-053146
Chunk: 102

Company: GREIF, INC
Filing Date: 2025-11-19
Form: 10-KT
Chunk 102
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 0.2 |     |         |    — |     |       |  0.2 |     |             | — |     |         |  -0.1 |     |         | — |     |       |  -0.1 |
| Insurance annuity         |     |                    | — |     |         |    — |     |         | 18.9 |     |       | 18.9 |     |             | — |     |         |     — |     |         | — |     |       |     — |
| Cross currency swap       |     |                    | — |     |         | 17.6 |     |         |    — |     |       | 17.6 |     |             | — |     |         |  -6.4 |     |         | — |     |       |  -6.4 |

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of September 30, 2025 and October 31, 2024 approximate their fair values because of the short-term nature of these items and are not included in this table.

Interest Rate Derivatives

As of September 30, 2025, the Company has various interest rate swaps with a total notional amount of $ 562.5million ($ 1,400.0million as of October 31, 2024), maturing between March 1, 2027 and July 16, 2029. The Company will receive variable rate interest payments based upon one-month U.S. dollar SOFR, and in return the Company will be obligated to pay interest at a weighted average fixed interest rate of 1.87%. This effectively will convert the borrowing rate on an amount of debt equal to the notional amount of the interest rate swaps from a variable rate to a fixed rate.

These derivatives are designated as cash flow hedges for accounting purposes. Accordingly, the gain or loss on these derivative instruments are reported as a component of other comprehensive income and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. See Note 14 herein for additional disclosures of the aggregate gain or loss included within other comprehensive income. The assumptions used in measuring fair value of these interest rate derivatives are considered level 2 inputs, which are based upon observable market rates, including SOFR and interest paid based