Company: GEF
Filing Date: 2025-02-27
Form Type: 10-Q
Source: 0000043920-25-000009
Chunk: 58

Company: GREIF, INC
Filing Date: 2025-02-27
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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— $1,953.7 Segment recast(1,148.3)(805.4)607.9 401.8 774.1 169.9 — Goodwill acquired— — 11.2 — — — 11.2 Currency translation— — (10.1)(10.9)— (2.3)(23.3)Balance at January 31, 2025$— $— $609.0 $390.9 $774.1 $167.6 $1,941.6 

NOTE 4 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the three months ended January 31, 2025:(in millions)EmployeeSeparationCostsOtherCostsTotalBalance at October 31, 2024$4.8 $0.1 $4.9 Costs incurred and charged to expense2.0 0.7 2.7 Costs paid or otherwise settled(2.2)(0.5)(2.7)Balance at January 31, 2025$4.6 $0.3 $4.9 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 January 31, 2025, the Company recorded restructuring charges of $2.7 million, as compared to $5.7 million of restructuring charges recorded during the three months ended January 31, 2024. The restructuring activity for the three months ended January 31, 2025 consisted of $2.0 million in employee separation costs and $0.7 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

13

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the filing date of this Form 10-Q. Remaining amounts expected to be incurred were $33.3 million as of January 31, 2025:(in millions)Total AmountsExpected tobe IncurredAmounts Incurred During the Three Months Ended January 31, 2025AmountsRemainingto be IncurredCustomized Polymer