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ACQUISITIONS AND DIVESTITURES (Tables)
 6 Months Ended
Apr. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the consideration transferred to acquire Ipackchem and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:
(in millions)Amounts Recognized as of the Acquisition Date
Fair value of consideration transferred
Cash consideration$582.1 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$14.5 
Accounts receivable50.9 
Inventories36.7 
Other current assets4.9 
Intangibles231.7 
Operating lease right-of-use assets15.1 
Finance lease right-of-use assets8.2 
Other long-term assets1.0 
Properties, plants and equipment91.5 
Total assets acquired
454.5 
Accounts payable(17.2)
Short-term borrowings(26.2)
Other current liabilities(13.2)
Operating lease liabilities(14.2)
Finance lease liabilities(10.0)
Long-term deferred tax liability(62.1)
Other long-term liabilities(5.3)
Total liabilities assumed
(148.2)
Total identifiable net assets$306.3 
Goodwill$275.8 
The following table summarizes the consideration transferred to acquire ColePak and the preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date:
(in millions)Amounts Recognized as of the Acquisition DateMeasurement Period AdjustmentsAmount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration$74.6 $— $74.6 
Noncontrolling interest72.1 — 72.1 
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable$6.7 $— $6.7 
Inventories3.3 — 3.3 
Intangibles59.0 — 59.0 
Operating lease right-of use assets8.6 — 8.6 
Properties, plants and equipment19.4 — 19.4 
Total assets acquired
97.0 — 97.0 
Accounts payable and other current liabilities(1.8)— (1.8)
Operating lease liabilities(8.6)— (8.6)
Total liabilities assumed
(10.4)— (10.4)
Total identifiable net assets$86.6 $— $86.6 
Goodwill$60.1 $— $60.1 
The following table summarizes the consideration transferred to acquire Centurion and the final valuation of identifiable assets acquired and liabilities assumed at the acquisition date:
(in millions)Amounts Recognized as of the Acquisition DateMeasurement Period AdjustmentsAmount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration$144.5 $— $144.5 
Noncontrolling interest40.9 — 40.9 
Previously held interest16.8 — 16.8 
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable$12.4 $— $12.4 
Inventories2.0 — 2.0 
Prepaid and other current assets0.4 — 0.4 
Intangibles83.4 9.4 92.8 
Operating lease right-of use assets10.2 — 10.2 
Properties, plants and equipment7.7 — 7.7 
Total assets acquired
116.1 9.4 125.5 
Accounts payable(4.2)— (4.2)
Other current liabilities(4.3)— (4.3)
Operating lease liabilities(10.2)— (10.2)
Total liabilities assumed
(18.7)— (18.7)
Total identifiable net assets$97.4 $9.4 $106.8 
Goodwill$104.8 $(9.4)$95.4 
The following table summarizes the consideration transferred to acquire Lee Container and the final valuation of identifiable assets acquired and liabilities assumed at the acquisition date:
(in millions)Amounts Recognized as of the Acquisition DateMeasurement Period AdjustmentsAmount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration$302.8 $0.2 $303.0 
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable$21.9 $(0.4)$21.5 
Inventories27.5 (5.2)22.3 
Prepaid and other current assets0.5 — 0.5 
Intangibles133.5 — 133.5 
Finance lease right-of use assets32.4 1.0 33.4 
Properties, plants and equipment54.7 — 54.7 
Total assets acquired
270.5 (4.6)265.9 
Accounts payable(3.9)— (3.9)
Accrued payroll and employee benefits(1.3)— (1.3)
Other current liabilities(3.1)2.9 (0.2)
Finance lease liabilities(30.6)(2.8)(33.4)
Total liabilities assumed
(38.9)0.1 (38.8)
Total identifiable net assets$231.6 (4.5)227.1 
Goodwill$71.2 $4.7 $75.9 
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination The following table summarizes the preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:
(in millions)Purchase Price AllocationWeighted Average Estimated Useful Life
Customer relationships$182.4 15.0
Developed technology39.0 8.0
Trademarks10.3 5.0
Total intangible assets$231.7 
 The following table summarizes the preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:
(in millions)Purchase Price AllocationWeighted Average Estimated Useful Life
Customer relationships$50.6 15.0
Trademarks8.4 5.0
Total intangible assets$59.0 
The following table summarizes the final purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:
(in millions) Purchase Price AllocationWeighted Average Estimated Useful Life
Customer relationships$77.5 12.0
Favorable leases1.6 19.0
Trademarks13.7 5.0
Total intangible assets$92.8 
The following table summarizes the final purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:
(in millions)Purchase Price AllocationWeighted Average Estimated Useful Life
Customer relationships$120.0 15.0
Trademarks13.5 5.0
Total intangible assets$133.5 
Business Acquisition, Pro Forma Information
The following unaudited supplemental pro forma data presents consolidated information as if the Ipackchem Acquisition had been completed on November 1, 2022. These amounts were calculated after adjusting Ipackchem’s results to reflect interest expense incurred on the debt to finance the acquisition, additional depreciation and amortization that would have been charged assuming the fair value of property, plant and equipment and intangible assets had been applied from November 1, 2022, the adjusted income tax expense, and related transaction costs.
Three Months Ended
April 30,		Six Months Ended
April 30,
(in millions, except per share amounts)2024202320242023
Pro forma net sales$1,404.3 $1,366.9 $2,665.7 $2,693.4 
Pro forma net income attributable to Greif, Inc.54.6 114.9 130.2 190.2 
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock$0.94 $3.28 $2.26 $3.28 
Class B common stock$1.42 $4.90 $3.38 $4.90 
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock$0.94 $3.25 $2.26 $3.25 
Class B common stock$1.42 $4.90 $3.38 $4.90 
The following unaudited supplemental pro forma data presents consolidated information as if the Centurion Acquisition and Lee Container Acquisition had been completed on November 1, 2021. These amounts were calculated after adjusting Centurion’s and Lee Container’s results to reflect interest expense incurred on the debt to finance the acquisition, additional depreciation and amortization that would have been charged assuming the fair value of property, plant and equipment and intangible assets had been applied from November 1, 2021, the adjusted income tax expense, and related transaction costs.
Three Months Ended April 30,Six Months Ended April 30,
(in millions, except per share amounts)20232023
Pro forma net sales$1,326.2 $2,637.8 
Pro forma net income attributable to Greif, Inc.113.1 216.3 
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock$1.95 $3.73 
Class B common stock$2.92 $5.58 
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock$1.93 $3.70 
Class B common stock$2.92 $5.58