GEF Greif Inc

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Basis of Presentation

The interim condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions to Quarterly Reports on Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates.

The fiscal year of Greif, Inc. and its subsidiaries (the “Company”) begins on November 1 and ends on October 31 of the following year. Any references to years or to any quarter of those years, relates to the fiscal year or quarter, as the case may be, ended in that year, unless otherwise stated.

The information filed herein reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated balance sheet as of April 30, 2024 and the condensed consolidated balance sheet as of October 31, 2023, the interim condensed consolidated statements of income, comprehensive income and changes in shareholders’ equity for the three and six months ended April 30, 2024 and 2023 and the interim condensed consolidated statements of cash flows for the six months ended April 30, 2024 and 2023 of the Company. The interim condensed consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and consolidated subsidiaries and investments in limited liability companies, partnerships and joint ventures in which it has controlling influence or is the primary beneficiary. Non-majority owned entities include investments in limited liability companies, partnerships and joint ventures in which the Company does not have controlling interest and are accounted for using either the equity or cost method, as appropriate.

The unaudited interim condensed consolidated financial statements included in this Quarterly Report on Form 10-Q (this “Form 10-Q”) should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended October 31, 2023 (the “2023 Form 10-K”).

Newly Adopted Accounting Standards

There have been no new accounting standards adopted since the filing of the 2023 Form 10-K that have significance, or potential significance, to the interim condensed consolidated financial statements.

Recently Issued Accounting Standards

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, "Income Taxes (Topic 740): Improvements to Tax Disclosures,” which is intended to improve the effectiveness of income tax disclosures. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU is for the fiscal year beginning October 1, 2025. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU is for the fiscal year and interim periods beginning November 1, 2024 and October 1, 2025 respectively. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

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2024 Acquisitions

Ipackchem Acquisition

The Company acquired Ipackchem Group SAS (“Ipackchem”) on March 26, 2024 (the “Ipackchem Acquisition”). Ipackchem is a global market leader in the production of high-performance plastic packaging, including premium barrier and non-barrier jerrycans and other small plastic containers. The total purchase price for this acquisition was $582.1 million. The Company incurred transaction costs of $8.9 million to complete this acquisition.

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 receivable			50.9
Inventories			36.7
Other current assets			4.9
Intangibles			231.7
Operating lease right-of-use assets			15.1
Finance lease right-of-use assets			8.2
Other long-term assets			1.0
Properties, plants and equipment			91.5
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 Company recognized goodwill related to this acquisition of $275.8 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 Global Industrial Packaging 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 straight-line basis.

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The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair value for acquired developed technology was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from developed technology that existed on the acquisition date over their estimated lives. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate. 

Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	182.4		15.0
Developed technology			39.0			8.0
Trademarks			10.3			5.0
Total intangible assets			$	231.7

The Company has not yet finalized the determination of the fair value of assets acquired and liabilities assumed. The Company expects to finalize these amounts within one year of the acquisition date. The estimate of fair value and purchase price allocation were based on information available at the time of closing the acquisition, and the Company continues to evaluate the underlying inputs and assumptions that are being used in the fair value estimates of all assets acquired and liabilities assumed. Accordingly, these preliminary estimates are subject to adjustments during the measurement period, not to exceed one year from the acquisition date, based upon new information obtained about facts and circumstances that existed as of the date of closing the acquisition.

Ipackchem’s results of operations have been included in the Company’s financial statements for the period subsequent to the acquisition date of March 26, 2024. Ipackchem contributed net sales of $22.6 million for the three months ended April 30, 2024.

Pro Forma Results

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)			2024						2023						2024						2023
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

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The unaudited supplemental pro forma financial information is based on the Company’s preliminary assignment of purchase price and therefore subject to adjustment upon finalizing the purchase price assignment. The pro forma data should not be considered indicative of the results that would have occurred if the acquisition and related financing had been consummated on the assumed completion dates, nor are they indicative of future results.

2023 Acquisitions

ColePak Acquisition

The Company acquired a 51% ownership interest in ColePak, LLC (“ColePak”) on August 23, 2023 (the “ColePak Acquisition”). ColePak is a manufacturer of bulk and specialty partitions made from both containerboard and uncoated recycled board and is the second largest supplier of paper partitions in North America. The total purchase price for this acquisition, net of cash acquired, was $74.6 million. The fair value of the remaining noncontrolling interest of 49% after the acquisition was $72.1 million, which was determined using a Monte Carlo option pricing model, and is redeemable through contractual terms.

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 Date			Measurement Period Adjustments			Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration			$	74.6		$	—		$	74.6
Noncontrolling interest			72.1			—			72.1
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			$	6.7		$	—		$	6.7
Inventories			3.3			—			3.3
Intangibles			59.0			—			59.0
Operating lease right-of use assets			8.6			—			8.6
Properties, plants and equipment			19.4			—			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 Company recognized goodwill related to this acquisition of $60.1 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expected synergies, economies of scale and expanded market presence, none of which qualify for recognition as a separate intangible asset. ColePak is reported within the Paper Packaging & Services segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes.

The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate. 

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Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	50.6		15.0
Trademarks			8.4			5.0
Total intangible assets			$	59.0

The Company has not yet finalized the determination of the fair value of assets acquired and liabilities assumed, including income taxes and contingencies. The Company expects to finalize these amounts within one year of the acquisition date. The estimate of fair value and purchase price allocation were based on information available at the time of closing the acquisition, and the Company continues to evaluate the underlying inputs and assumptions that are being used in fair value estimates. Accordingly, these preliminary estimates are subject to adjustments during the measurement period, not to exceed one year from the date of the acquisition, based upon new information obtained about facts and circumstances that existed as of the date of closing the acquisition.

Centurion Acquisition

The Company completed its acquisition of controlling influence over Centurion Container LLC (“Centurion”) on March 31, 2023 (the “Centurion Acquisition”), by increasing the Company’s ownership interest in Centurion from approximately 10% to 80%. Centurion is a leader in the North American intermediate bulk container (“IBC”) reconditioning industry and is involved in IBC rebottling, reconditioning, and distribution. The total purchase price for this acquisition, net of cash acquired, was $144.5 million. The fair value of the remaining noncontrolling interest of 20% after the acquisition was $40.9 million, which was determined using the implied enterprise value based on the purchase price and redemption mechanism, and is redeemable through contractual terms.

Prior to the acquisition, the Company accounted for its approximately 10% ownership interest under the equity method of accounting. The acquisition of a controlling financial interest was accounted for as a step acquisition in accordance with Accounting Standards Codification (“ASC”) 805, “Business Combinations”. As a result, fair value of our previously held interest in Centurion of $16.8 million was valued using a discounted cash flow model, resulting in a gain of $9.8 million. The gain was reflected in the consolidated statements of income within the gain on disposal of businesses, net line.

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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 Date			Measurement Period Adjustments			Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
Cash consideration			$	144.5		$	—		$	144.5
Noncontrolling interest			40.9			—			40.9
Previously held interest			16.8			—			16.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			$	12.4		$	—		$	12.4
Inventories			2.0			—			2.0
Prepaid and other current assets			0.4			—			0.4
Intangibles			83.4			9.4			92.8
Operating lease right-of use assets			10.2			—			10.2
Properties, plants and equipment			7.7			—			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 Company recognized goodwill related to this acquisition of $95.4 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expanded market presence and enhanced business network, none of which qualify for recognition as a separate intangible asset. Centurion is reported within the Global Industrial Packaging segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes.

The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate. 

Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	77.5		12.0
Favorable leases			1.6			19.0
Trademarks			13.7			5.0
Total intangible assets			$	92.8

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As of April 30, 2024, the Company had completed the determination of the fair value of assets acquired and liabilities assumed related to the Centurion Acquisition.

Lee Container Acquisition

The Company acquired Lee Container Corporation, Inc. (“Lee Container”) on December 15, 2022 (the “Lee Container Acquisition”). Lee Container is an industry-leading manufacturer of high-performance barrier and conventional blow molded containers, jerrycans and other small plastics. The total purchase price for this acquisition, net of cash acquired, was $303.0 million.

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 Date			Measurement Period Adjustments			Amount 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
Inventories			27.5			(5.2)			22.3
Prepaid and other current assets			0.5			—			0.5
Intangibles			133.5			—			133.5
Finance lease right-of use assets			32.4			1.0			33.4
Properties, plants and equipment			54.7			—			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

The Company recognized goodwill related to this acquisition of $75.9 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. Lee Container is reported within the Global Industrial Packaging segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes.

The cost approach was used to determine the fair value for 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 building improvements a useful life ranging from 1 year to 9 years and equipment a useful life ranging from 1 year to 19 years. Acquired property, plant and equipment are being depreciated over their estimated remaining useful lives on a straight-line basis.

The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate. 

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Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation			Weighted Average Estimated Useful Life
Customer relationships			$	120.0		15.0
Trademarks			13.5			5.0
Total intangible assets			$	133.5

As of January 31, 2024, the Company had completed the determination of the fair value of assets acquired and liabilities assumed related to the Lee Container Acquisition.

Pro Forma Results

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)									2023												2023
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

The pro forma data should not be considered indicative of the results that would have occurred if the acquisition and related financing had been consummated on the assumed completion dates, nor are they indicative of future results.

Divestitures

Tama Divestiture

During the first quarter of 2023, the Company completed its divestiture of a U.S. business in the Paper Packaging & Services segment, Tama Paperboard, LLC (the “Tama Divestiture”), for current net cash proceeds of $100.2 million. The Tama Divestiture did not qualify as discontinued operations because it did not represent a strategic shift that has had a major impact on the Company’s operations or financial results. The Tama Divestiture resulted in $54.6 million gain on sale of business, including goodwill allocated to the sale of $22.5 million.

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The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2024:

(in millions)			Employee Separation Costs						Other Costs						Total
Balance at October 31, 2023			$	16.4					$	0.4					$	16.8
Costs incurred and charged to expense			(5.7)						4.6						(1.1)
Costs paid or otherwise settled			(4.9)						(4.6)						(9.5)
Balance at April 30, 2024			$	5.8					$	0.4					$	6.2

The focus for restructuring activities in 2024 is to optimize operations.

During the three months ended April 30, 2024, the Company recorded restructuring charges of $(6.8) million, as compared to $2.4 million of restructuring charges recorded during the three months ended April 30, 2023. The restructuring activity for the three months ended April 30, 2024 consisted of ($9.0) million release of prior period restructuring severance accrual no longer probable of occurring, $0.4 million in employee separation costs and $1.8 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

During the six months ended April 30, 2024, the Company recorded restructuring charges of $(1.1) million, as compared to $4.8 million of restructuring charges recorded during the six months ended April 30, 2023. The restructuring activity for the six months ended April 30, 2024 consisted of ($9.0) million release of prior period restructuring severance accrual no longer probable of occurring, $3.3 million in employee separation costs and $4.6 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

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 $13.7 million as of April 30, 2024:

(in millions)			Total Amounts Expected to be Incurred						Amounts Incurred During the Six Months Ended April 30, 2024						Amounts Remaining to be Incurred
Global Industrial Packaging
Employee separation costs			$	(4.2)					$	(8.0)					$	3.8
Other restructuring costs			2.0						0.3						1.7
			(2.2)						(7.7)						5.5
Paper Packaging & Services
Employee separation costs			2.5						2.3						0.2
Other restructuring costs			12.3						4.3						8.0
			14.8						6.6						8.2
			$	12.6					$	(1.1)					$	13.7

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Long-term debt is summarized as follows:

(in millions)			April 30, 2024						October 31, 2023
2022 Credit Agreement - Term Loans			$	1,751.6					$	1,493.8
2023 Credit Agreement - Term Loan			292.5						296.3
Accounts receivable credit facilities			346.8						351.0
2022 Credit Agreement - Revolving Credit Facility			492.2						77.3
Other debt			4.0						—
			2,887.1						2,218.4
Less: current portion			95.8						88.3
Less: deferred financing costs			8.4						8.7
Long-term debt, net			$	2,782.9					$	2,121.4

Credit Agreements

The Company and certain of its subsidiaries are parties to a senior secured credit agreement (the “2022 Credit Agreement”) with a syndicate of financial institutions.

The 2022 Credit Agreement provides for (a) an $800.0 million secured revolving credit facility, consisting of a $725.0 million multicurrency facility and a $75.0 million U.S. dollar facility, maturing on March 1, 2027, (b) a $1,100.0 million secured term loan A-1 facility with quarterly principal installments that commenced on July 31, 2022 and continue through January 31, 2027, with any outstanding principal balance of such term loan A-1 facility being due and payable on maturity on March 1, 2027, (c) a $515.0 million secured term loan A-2 facility with quarterly principal installments that commenced on July 31, 2022 and continue through January 31, 2027, with any outstanding principal balance of such term loan A-2 being due and payable on maturity on March 1, 2027, and (d) as further described below, a $300.0 million incremental secured term loan A-4 facility with quarterly principal installments that commenced on April 30, 2024 and continue through January 31, 2027, with any outstanding principal balance of such term loan A-4 being due and payable on maturity on March 1, 2027. Subject to the terms of the 2022 Credit Agreement, the Company has an option to borrow additional funds under the 2022 Credit Agreement with the agreement of the lenders.

On March 25, 2024, the Company and certain of its subsidiaries entered into an incremental term loan agreement (the “Incremental Term Loan A-4 Agreement”) with a syndicate of financial institutions. The Incremental Term Loan A-4 Agreement is an amendment to the 2022 Credit Agreement. The Incremental Term Loan A-4 Agreement provided for a loan in the aggregate principal amount of $300.0 million that was made available in a single draw on March 25, 2024 (the “Incremental Term Loan A-4”). Amounts repaid or prepaid in respect of the Incremental Term Loan A-4 may not be reborrowed. The Incremental Term Loan A-4 amortizes at 2.50% per annum in equal quarterly principal installments, with the remaining outstanding principal balance due on March 1, 2027. The terms and provisions of the Incremental Term Loan A-4 are identical in all material respects to the terms and provisions of the other term loans made under the 2022 Credit Agreement. The Company’s obligations with respect to the Incremental Term Loan A-4 are secured and guaranteed with the other obligations under the 2022 Credit Agreement on a pari passu basis. The Company used the proceeds from the Incremental Term Loan A-4 to repay funds drawn on the revolving credit facility under the 2022 Credit Agreement for the purchase of Ipackchem on March 26, 2024.

Interest is based on Secured Overnight Financing Rate (“SOFR”) plus a credit spread adjustment or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio.

On May 17, 2023, the Company and Greif Packaging LLC, a direct wholly owned subsidiary of Greif, Inc. (“Greif Packaging”), entered into a $300.0 million senior secured credit agreement (the “2023 Credit Agreement” and, together with the 2022 Credit Agreement, the “2022 and 2023 Credit Agreements”) with CoBank, ACB (“CoBank”), which acted as a lender and is acting as administrative agent of the 2023 Credit Agreement. The 2023 Credit Agreement is permitted incremental equivalent debt under the terms of the 2022 Credit Agreement. The 2023 Credit Agreement provides for a $300.0 million secured term loan facility with quarterly principal installments that commenced on July 31, 2023 and will continue through January 31, 2028, with any outstanding principal balance of such term loan being due and payable on maturity on May 17, 2028. The Company

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used the borrowing under the 2023 Credit Agreement to repay and refinance a portion of the outstanding borrowings under the 2022 Credit Agreement.

Interest accruing under the 2023 Credit Agreement is based on SOFR plus a credit spread adjustment or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio.

As of April 30, 2024, $2,536.3 million was outstanding under the 2022 and 2023 Credit Agreements. The current portion was $95.8 million, and the long-term portion was $2,440.5 million. The weighted average interest rate for borrowings under the 2022 and 2023 Credit Agreements was 6.36% for the six months ended April 30, 2024. The actual interest rate for borrowings under the 2022 and 2023 Credit Agreements was 6.81% as of April 30, 2024. The deferred financing costs associated with the term loan portion of the 2022 and 2023 Credit Agreements totaled $8.4 million as of April 30, 2024 and are recorded as a reduction of long-term debt on the interim condensed consolidated balance sheets. The deferred financing costs associated with the revolving portion of the 2022 Credit Agreement totaled $3.0 million as of April 30, 2024 and are recorded within other long-term assets on the interim condensed consolidated balance sheets.

United States Trade Accounts Receivable Credit Facility

Greif Receivables Funding LLC (“Greif Funding”), Greif Packaging, and certain other U.S. subsidiaries of the Company are parties to an amended and restated U.S. Receivables Financing Facility Agreement (the “U.S. RFA”). On May 17, 2024, the maturity date of the U.S. RFA was extended to May 16, 2025. The U.S. RFA provides an accounts receivable financing facility of $300.0 million. As of April 30, 2024, there was a $259.3 million ($270.9 million as of October 31, 2023) outstanding under the U.S. RFA that is reported as long-term debt on the interim condensed consolidated balance sheets because the Company intends to refinance these obligations on a long-term basis and has the intent and ability to consummate a long-term refinancing.

Greif Funding is a direct subsidiary of Greif Packaging and is included in the Company’s consolidated financial statements. However, because Greif Funding is a separate and distinct legal entity from the Company, the assets of Greif Funding are not available to satisfy the liabilities and obligations of the Company, Greif Packaging or other subsidiaries of the Company, and the liabilities of Greif Funding are not the liabilities or obligations of the Company or its other subsidiaries.

International Trade Accounts Receivable Credit Facility

Cooperage Receivables Finance B.V. and Greif Services Belgium BV, an indirect wholly owned subsidiary of Greif, Inc., are parties to an amended and restated Nieuw Amsterdam Receivables Financing Agreement (the “European RFA”) with affiliates of a major international bank. On April 19, 2024, the maturity date of the European RFA was extended to April 22, 2025. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($106.9 million as of April 30, 2024) secured by certain European accounts receivable. As of April 30, 2024, $87.5 million ($80.1 million as of October 31, 2023) was outstanding on the European RFA that is reported as long-term debt on the interim condensed consolidated balance sheets because the Company intends to refinance these obligations on a long-term basis and has the intent and ability to consummate a long-term refinancing.

---

Recurring Fair Value Measurements

The following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 2024 and October 31, 2023:

			April 30, 2024
			Assets																								Liabilities
(in millions)			Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Interest rate derivatives			$	—					$	73.9					$	—					$	73.9					$	—					$	(0.4)					$	—					$	(0.4)
Foreign exchange hedges			—						0.2						—						0.2						—						(0.6)						—						(0.6)
Insurance annuity			—						—						19.0						19.0						—						—						—						—
Cross currency swap			—						18.6						—						18.6						—						(5.4)						—						(5.4)
			October 31, 2023
			Assets																								Liabilities
(in millions)			Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3						Total
Interest rate derivatives			$	—					$	78.4					$	—					$	78.4					$	—					$	—					$	—					$	—
Foreign exchange hedges			—						0.1						—						0.1						—						(0.1)						—						(0.1)
Insurance annuity			—						—						18.8						18.8						—						—						—						—
Cross currency swap			—						18.9						—						18.9						—						—						—						—

The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of April 30, 2024 and October 31, 2023 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 April 30, 2024, the Company has various interest rate swaps with a total notional amount of $1,400.0 million ($1,300.0 million as of October 31, 2023), 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 2.97%. This effectively converted 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 is 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 11 to the interim condensed consolidated financial statements 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 upon a designated fixed rate over the life of the swap agreements.

Gains reclassified to earnings under these contracts were $8.9 million and $6.6 million for the three months ended April 30, 2024, and 2023, respectively. Gains reclassified to earnings under these contracts were $18.6 million and $11.3 million for the six months ended April 30, 2024, and 2023, respectively. A derivative gain of $31.5 million, based upon interest rates at April 30, 2024, is expected to be reclassified from accumulated other comprehensive income (loss) to earnings in the next twelve months.

Foreign Exchange Hedges

The Company conducts business in various international currencies and is subject to risks associated with changing foreign exchange rates. The Company’s objective is to reduce volatility associated with foreign exchange rate changes. Accordingly, the Company enters into various contracts that change in value as foreign exchange rates change to protect the value of certain existing foreign currency assets and liabilities, commitments and anticipated foreign currency cash flows. As of April 30, 2024, and October 31, 2023, the Company had outstanding foreign currency forward contracts in the notional amount of $101.0 million and $66.0 million, respectively.

---

Adjustments to fair value are recognized in earnings, offsetting the impact of the hedged profits. The assumptions used in measuring fair value of foreign exchange hedges are considered level 2 inputs, which are based on observable market pricing for similar instruments, principally foreign exchange futures contracts.

For the three months ended April 30, 2024, and 2023, the Company recorded realized gains of $2.9 million and $0.6 million, respectively, under fair value contracts in other expense, net. For the six months ended April 30, 2024, and 2023, the Company recorded realized gains of $2.9 million and $0.7 million, respectively, under fair value contracts in other expense, net.

For the three months ended April 30, 2024, and 2023, the Company recorded unrealized net gains (losses) of $(2.8) million and $1.3 million, respectively, in other expense, net. For the six months ended April 30, 2024, and 2023, the Company recorded unrealized net losses of $0.4 million and $1.5 million, respectively, in other expense, net.

Cross Currency Swap

The Company has operations and investments in various international locations and is subject to risks associated with changing foreign exchange rates. As of April 30, 2024, the Company has various cross currency interest rate swaps that synthetically swap $447.6 million ($319.3 million as of October 31, 2023) of U.S. fixed rate debt to Euro denominated fixed rate debt. The Company receives a weighted average rate of 1.27% on these swaps. These agreements are designated as either net investment hedges or cash flow hedges for accounting purposes and will mature between August 10, 2026 and November 3, 2028.

The gain or loss on these net investment hedge derivative instruments is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted, or liquidated. See Note 11 to the interim condensed consolidated financial statements for additional disclosures of the aggregate gain or loss included within other comprehensive income. The gain or loss on the cash flow hedge derivative instruments is included in the unrealized foreign exchange component of other expense, offset by the underlying gain or loss on the underlying cash flows that are being hedged. Interest payments received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the consolidated statements of income. The assumptions used in measuring fair value of the cross currency swap are considered level 2 inputs, which are based upon the Euro to United States dollar exchange rate market.

For the three months ended April 30, 2024 and 2023, gains recorded in interest expense, net under the cross currency swap agreements were $1.6 million and $1.2 million, respectively,. For the six months ended April 30, 2024 and 2023, gains recorded in interest expense, net under the cross currency swap agreements were $3.5 million and $2.6 million, respectively.

Other Financial Instruments

The fair values of the Company’s 2022 Credit Agreement, the 2023 Credit Agreement, the U.S. RFA, and the European RFA do not materially differ from carrying value as the Company’s cost of borrowing is variable and approximates current borrowing rates. The fair values of the Company’s long-term obligations are estimated based on either the quoted market prices for the same or similar issues or the current interest rates offered for the debt of the same remaining maturities, which are considered level 2 inputs in accordance with ASC Topic 820, “Fair Value Measurements and Disclosures.”

Long-Term Incentive Plan

The Company granted 120,843 restricted stock units (“RSUs”) on December 12, 2023, for the performance period commencing on November 1, 2023 and ending September 30, 2026. The weighted average fair value of the RSUs granted on that date was $62.83.

During 2024, the Company issued 53,060 shares of Class A Common Stock excluding shares withheld for the payment of taxes owed by recipients for RSUs vested for the performance period commenced on November 1, 2020 and ended October 31, 2023.

The Company granted 202,402 performance stock units (“PSUs”) on December 12, 2023, for the performance period commencing on November 1, 2023 and ending September 30, 2026. If earned, the PSUs are to be awarded in shares of Class A Common Stock. The weighted average fair value of the PSUs granted on that date was $60.77.

During 2024, the Company issued 229,859 shares of Class A Common Stock excluding shares withheld for the payment of taxes owed by recipients for PSUs vested for the performance period commenced on November 1, 2020 and ended October 31, 2023.

---

Income tax expense for the quarter and income tax benefit for year to date was computed in accordance with ASC 740-270 "Income Taxes - Interim Reporting." Under this method, losses from jurisdictions for which a valuation allowance has been provided have not been included in the amount to which the ASC 740-270 rate was applied. Income tax expense of the Company may fluctuate due to changes in estimated losses and income from jurisdictions for which a valuation allowance has been provided, the timing of recognition of the related income tax expense under ASC 740-270, and the impact of discrete items in the respective quarter.

For the six months ended April 30, 2024 and April 30, 2023, income tax (benefit) expense was $(21.2) million and $76.8 million, respectively. The $98.0 million net decrease in income tax expense was primarily attributable to the following:

•A $22.7 million decrease in tax due to changes in the mix of earnings among tax jurisdictions, including jurisdictions for which valuation allowances have been recorded, as well as the timing of recognition of the related income tax expense under ASC 740-270.

•One-time discrete tax benefits of $48.1 million related to the recognition of deferred tax assets due to the onshoring of certain non-U.S. intangible property.

•An $8.4 million decrease due to changes in income tax expense related to prior year tax returns and audits.

•In 2023, $18.8 million of expense was recorded for nondeductible goodwill associated with the Tama Divestiture.

The components of net periodic pension cost include the following:

			Three Months Ended April 30,												Six Months Ended April 30,
(in millions)			2024						2023						2024						2023
Service cost			$	1.7					$	2.0					$	3.4					$	4.0
Interest cost			8.7						8.7						17.3						17.4
Expected return on plan assets			(10.7)						(9.7)						(21.5)						(19.4)
Amortization of prior service benefit			(0.1)						(0.1)						(0.2)						(0.2)
Recognized net actuarial gain			(0.3)						(0.6)						(0.5)						(1.1)
Net periodic pension (benefit) cost			$	(0.7)					$	0.3					$	(1.5)					$	0.7

The Company expects to make employer contributions of $8.0 million, including benefits paid directly by the Company, during 2024.

The components of net periodic pension cost and net periodic post-retirement benefit, other than the service cost components, are included in the line item “Other expense, net” in the interim condensed consolidated statements of income.

Litigation-related Liabilities

The Company may become involved from time-to-time in litigation and regulatory matters incidental to its business, including governmental investigations, enforcement actions, personal injury claims, product liability, employment health and safety matters, commercial disputes, intellectual property matters, disputes regarding environmental clean-up costs, litigation in connection with acquisitions and divestitures, and other matters arising out of the normal conduct of its business. The Company intends to vigorously defend itself in such litigation. The Company does not believe that the outcome of any pending litigation will have a material adverse effect on its interim condensed consolidated financial statements.

The Company may accrue for contingencies related to litigation and regulatory matters if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about future events. The Company regularly reviews contingencies to determine whether its accruals are adequate. The amount of ultimate loss may differ from these estimates.

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Environmental Reserves

As of April 30, 2024, and October 31, 2023, the Company’s environmental reserves were $18.3 million and $17.3 million, respectively (including $9.8 million for the Diamond Alkali Superfund Site in the New Jersey). These reserves are principally based on environmental studies and cost estimates provided by third parties, but also take into account management estimates. The estimated liabilities are reduced to reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of relevant costs. For sites that involve formal actions subject to joint and several liabilities, these actions have formal agreements in place to apportion the liability. It is possible that there could be resolution of uncertainties in the future that would require the Company to record charges that could be material to future earnings.

The Company’s exposure to adverse developments with respect to any individual site is not expected to be material. Although environmental remediation could have a material effect on results of operations if a series of adverse developments occur in a particular quarter or year, the Company believes that the chance of a series of adverse developments occurring in the same quarter or year is remote. Future information and developments will require the Company to continually reassess the expected impact of these environmental matters.

The Company has two classes of common stock and, as such, applies the “two-class method” of computing earnings per share (“EPS”) as prescribed in ASC 260, “Earnings Per Share.” In accordance with this guidance, earnings are allocated in the same fashion as dividends would be distributed. Under the Company’s certificate of incorporation, any distribution of dividends in any year must be made in proportion of one cent a share for Class A Common Stock to one and one-half cents a share for Class B Common Stock, which results in a 40% to 60% split to Class A and B shareholders, respectively. In accordance with this, earnings are allocated first to Class A and Class B Common Stock to the extent that dividends are actually paid and the remainder is allocated assuming all of the earnings for the period have been distributed in the form of dividends.

The Company calculates EPS as follows:

Basic Class A EPS

=

40% * Average Class A Shares Outstanding

*

Undistributed Net Income

+

Class A Dividends Per Share

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Class A Shares Outstanding

Diluted Class A EPS

=

40% * Average Class A Shares Outstanding

*

Undistributed Net Income

+

Class A Dividends Per Share

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Diluted Class A Shares Outstanding

Basic Class B EPS

=

60% * Average Class B Shares Outstanding

*

Undistributed Net Income

+

Class B Dividends Per Share

40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding

Average Class B Shares Outstanding

         *Diluted Class B EPS calculation is identical to Basic Class B calculation

---

The following table provides EPS information for each period, respectively:

			Three Months Ended April 30,												Six Months Ended April 30,
(in millions)			2024						2023						2024						2023
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.			$	44.4					$	111.2					$	111.6					$	201.1
Cash dividends			(30.0)						(29.0)						(59.7)						(57.9)
Undistributed earnings attributable to Greif, Inc.			$	14.4					$	82.2					$	51.9					$	143.2

The Class A Common Stock has no voting rights unless four quarterly cumulative dividends upon the Class A Common Stock are in arrears. The Class B Common Stock has full voting rights. There is no cumulative voting for the election of directors.

The following table summarizes the shares of the Company’s Class A and Class B Common Stock as of the specified dates:

			Authorized Shares						Issued Shares						Outstanding Shares						Treasury Shares
April 30, 2024
Class A Common Stock			128,000,000						42,281,920						25,808,005						16,473,915
Class B Common Stock			69,120,000						34,560,000						21,331,127						13,228,873
October 31, 2023
Class A Common Stock			128,000,000						42,281,920						25,474,254						16,807,666
Class B Common Stock			69,120,000						34,560,000						21,331,127						13,228,873

The following is a reconciliation of the shares used to calculate basic and diluted earnings per share:

			Three Months Ended April 30,												Six Months Ended April 30,
			2024						2023						2024						2023
Class A Common Stock:
Basic shares			25,802,839						25,771,973						25,667,030						25,712,178
Assumed conversion of restricted shares			115,548						413,922						105,582						274,499
Diluted shares			25,918,387						26,185,895						25,772,612						25,986,677
Class B Common Stock:
Basic and diluted shares			21,331,127						21,495,741						21,331,127						21,608,671

The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2024:

(in millions)			Foreign Currency Translation						Derivative Financial Instruments						Minimum Pension Liability Adjustment						Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2023			$	(317.7)					$	71.7					$	(70.5)					$	(316.5)
Other comprehensive loss			(0.7)						(8.5)						(2.4)						(11.6)
Balance as of April 30, 2024			$	(318.4)					$	63.2					$	(72.9)					$	(328.1)

---

The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2023:

(in millions)			Foreign Currency Translation						Derivative Financial Instruments						Minimum Pension Liability Adjustment						Accumulated Other Comprehensive Income (Loss)
Balance as of October 31, 2022			$	(316.5)					$	72.8					$	(58.6)					$	(302.3)
Other comprehensive income (loss)			48.8						(30.8)						(3.8)						14.2
Balance as of April 30, 2023			$	(267.7)					$	42.0					$	(62.4)					$	(288.1)

The components of accumulated other comprehensive income (loss) above are presented net of tax, as applicable.

The Company has six operating segments, which are aggregated into three reportable business segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management.

The Company’s reportable business segments offer different products and services. The accounting policies of the reportable business segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2023 Form 10-K.

On March 26, 2024, the Company completed the Ipackchem Acquisition. Ipackchem is a global market leader in the production of high performance plastic packaging, including premium barrier and non-barrier jerrycans and other small plastic containers, which complement the Company’s Global Industrial Packaging specialty portfolio. The results of Ipackchem are recorded within the Global Industrial Packaging segment while the Company evaluates the impact of the Ipackchem Acquisition on its reportable business segments.

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2024:

			Three Months Ended April 30, 2024
(in millions)			United States						Europe, Middle East and Africa						Asia Pacific and Other Americas						Total
Global Industrial Packaging			$	301.6					$	355.5					$	147.7					$	804.8
Paper Packaging & Services			550.5						—						10.3						560.8
Land Management			5.4						—						—						5.4
Total net sales			$	857.5					$	355.5					$	158.0					$	1,371.0
			Six Months Ended April 30, 2024
(in millions)			United States						Europe, Middle East and Africa						Asia Pacific and Other Americas						Total
Global Industrial Packaging			$	555.4					$	650.1					$	285.9					$	1,491.4
Paper Packaging & Services			1,056.0						—						19.4						1,075.4
Land Management			10.0						—						—						10.0
Total net sales			$	1,621.4					$	650.1					$	305.3					$	2,576.8

---

The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2023:

			Three Months Ended April 30, 2023
(in millions)			United States						Europe, Middle East and Africa						Asia Pacific and Other Americas						Total
Global Industrial Packaging			$	282.1					$	338.2					$	127.9					$	748.2
Paper Packaging & Services			544.6						—						10.2						554.8
Land Management			5.9						—						—						5.9
Total net sales			$	832.6					$	338.2					$	138.1					$	1,308.9
			Six Months Ended April 30, 2023
(in millions)			United States						Europe, Middle East and Africa						Asia Pacific and Other Americas						Total
Global Industrial Packaging			$	541.4					$	653.0					$	259.6					$	1,454.0
Paper Packaging & Services			1,095.1						—						19.9						1,115.0
Land Management			10.9						—						—						10.9
Total net sales			$	1,647.4					$	653.0					$	279.5					$	2,579.9

The following segment information is presented for the periods indicated:

			Three Months Ended April 30,												Six Months Ended April 30,
(in millions)			2024						2023						2024						2023
Operating profit:
Global Industrial Packaging			$	83.4					$	111.3					$	134.3					$	157.2
Paper Packaging & Services			12.6						67.6						29.4						176.7
Land Management			2.1						2.2						3.3						3.6
Total operating profit			$	98.1					$	181.1					$	167.0					$	337.5
Depreciation, depletion and amortization expense:
Global Industrial Packaging			$	31.1					$	23.2					$	56.5					$	44.6
Paper Packaging & Services			34.1						32.8						68.6						65.9
Land Management			0.7						0.6						1.2						1.2
Total depreciation, depletion and amortization expense			$	65.9					$	56.6					$	126.3					$	111.7

---

The following table presents total assets by segment and total properties, plants and equipment, net by geographic area:

(in millions)			April 30, 2024						October 31, 2023
Assets:
Global Industrial Packaging			$	3,554.7					$	2,737.5
Paper Packaging & Services			2,565.0						2,541.1
Land Management			255.1						253.2
Total segments			6,374.8						5,531.8
Corporate and other			454.0						429.0
Total assets			$	6,828.8					$	5,960.8
Property, plant and equipment, net and lease right-of-use assets:
United States			$	1,486.9					$	1,468.6
Europe, Middle East and Africa			394.2						311.9
Asia Pacific and other Americas			148.3						102.9
Total long-lived assets, net			$	2,029.4					$	1,883.4

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v3.24.1.1.u2

Cover - shares	6 Months Ended
	Apr. 30, 2024	Jun. 03, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	001-00566
Entity Registrant Name	GREIF, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-4388903
Entity Address, Address Line One	425 Winter Road
Entity Address, City or Town	Delaware
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43015
City Area Code	740
Local Phone Number	549-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000043920
Current Fiscal Year End Date	--10-31
Class A Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock
Trading Symbol	GEF
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		25,808,005
Class B Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class B Common Stock
Trading Symbol	GEF-B
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		21,331,127

v3.24.1.1.u2

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Net sales	$ 1,371.0	$ 1,308.9	$ 2,576.8	$ 2,579.9
Cost of products sold	1,100.9	997.1	2,085.1	2,016.5
Gross profit	270.1	311.8	491.7	563.4
Selling, general and administrative expenses	167.2	137.2	313.0	276.6
Acquisition and integration related costs	11.5	4.6	14.1	12.1
Restructuring charges	(6.8)	2.4	(1.1)	4.8
Non-cash asset impairment charges	0.4	1.3	1.7	1.8
Gain on disposal of properties, plants and equipment, net	(0.3)	(5.0)	(3.0)	(5.0)
Gain on disposal of businesses, net	0.0	(9.8)	0.0	(64.4)
Operating profit	98.1	181.1	167.0	337.5
Interest expense, net	30.2	23.4	54.4	46.2
Other (income) expense, net	(0.4)	2.9	8.7	6.2
Income before income tax (benefit) expense and equity earnings of unconsolidated affiliates, net	68.3	154.8	103.9	285.1
Income tax (benefit) expense	17.0	39.1	(21.2)	76.8
Equity earnings of unconsolidated affiliates, net of tax	(0.7)	(0.3)	(1.2)	(0.8)
Net income	52.0	116.0	126.3	209.1
Net income attributable to noncontrolling interests	(7.6)	(4.8)	(14.7)	(8.0)
Net income attributable to Greif, Inc.	$ 44.4	$ 111.2	$ 111.6	$ 201.1
Class A Common Stock
Basic earnings per share attributable to Greif, Inc. common shareholders:
Basic earnings per share attributable to Greif, Inc. common shareholders (in usd per share)	$ 0.77	$ 1.91	$ 1.94	$ 3.46
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share)	$ 0.77	$ 1.90	$ 1.94	$ 3.44
Weighted-average number of common shares outstanding:
Basic (in shares)	25,802,839	25,771,973	25,667,030	25,712,178
Diluted (in shares)	25,918,387	26,185,895	25,772,612	25,986,677
Cash dividends declared per common share:
Cash dividends declared per common share (in usd per share)	$ 0.52	$ 0.50	$ 1.04	$ 1.00
Class B Common Stock
Basic earnings per share attributable to Greif, Inc. common shareholders:
Basic earnings per share attributable to Greif, Inc. common shareholders (in usd per share)	1.15	2.88	2.90	5.19
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Diluted earnings per share attributable to Greif, Inc. common shareholders (in usd per share)	$ 1.15	$ 2.88	$ 2.90	$ 5.19
Weighted-average number of common shares outstanding:
Basic (in shares)	21,331,127	21,495,741	21,331,127	21,608,671
Diluted (in shares)	21,331,127	21,495,741	21,331,127	21,608,671
Cash dividends declared per common share:
Cash dividends declared per common share (in usd per share)	$ 0.78	$ 0.75	$ 1.55	$ 1.49

v3.24.1.1.u2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 52.0	$ 116.0	$ 126.3	$ 209.1
Other comprehensive income (loss), net of tax:
Foreign currency translation	(29.2)	(2.3)	(1.6)	49.0
Derivative financial instruments	27.7	(5.1)	(8.5)	(30.8)
Minimum pension liabilities	0.3	(1.4)	(2.4)	(3.8)
Other comprehensive income (loss), net of tax	(1.2)	(8.8)	(12.5)	14.4
Comprehensive income	50.8	107.2	113.8	223.5
Comprehensive income attributable to noncontrolling interests	6.7	4.7	13.8	8.2
Comprehensive income attributable to Greif, Inc.	$ 44.1	$ 102.5	$ 100.0	$ 215.3

v3.24.1.1.u2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Current assets
Cash and cash equivalents	$ 196.0	$ 180.9
Trade accounts receivable, net of allowance	772.0	659.4
Inventories:
Raw materials	309.9	255.8
Finished goods	101.8	82.8
Assets held for sale	6.5	5.0
Prepaid expenses	63.0	46.0
Other current assets	165.0	139.2
Total current assets	1,614.2	1,369.1
Long-term assets
Goodwill	1,968.3	1,693.0
Other intangible assets, net of amortization	980.1	792.2
Deferred tax assets	33.5	22.9
Pension assets	41.6	36.2
Operating lease right-of-use assets	334.4	290.3
Finance lease right-of-use assets	39.7	30.5
Other long-term assets	161.7	164.0
Total long term assets	3,559.3	3,029.1
Properties, plants and equipment
Timber properties, net of depletion	230.6	229.6
Land	157.6	153.7
Buildings	587.6	544.3
Machinery and equipment	2,250.7	2,138.8
Capital projects in progress	211.3	200.5
Properties, plants and equipment, gross	3,437.8	3,266.9
Accumulated depreciation	(1,782.5)	(1,704.3)
Properties, plants and equipment, net	1,655.3	1,562.6
Total assets	6,828.8	5,960.8
Current liabilities
Accounts payable	549.5	497.8
Accrued payroll and employee benefits	135.1	137.7
Restructuring reserves	6.2	16.8
Current portion of long-term debt	95.8	88.3
Short-term borrowings	37.4	5.4
Current portion of operating lease liabilities	58.2	53.8
Current portion of finance lease liabilities	5.4	3.4
Other current liabilities	138.8	136.1
Total current liabilities	1,026.4	939.3
Long-term liabilities
Long-term debt	2,782.9	2,121.4
Operating lease liabilities	278.3	240.2
Finance lease liabilities	36.3	27.9
Deferred tax liabilities	341.2	325.6
Pension liabilities	55.3	56.3
Postretirement benefit obligations	6.2	6.2
Contingent liabilities and environmental reserves	18.3	17.3
Long-term income tax payable	11.8	21.2
Other long-term liabilities	99.3	93.8
Total long-term liabilities	3,629.6	2,909.9
Commitments and contingencies (Note 9)
Redeemable noncontrolling interests	125.4	125.3
Equity
Common stock, without par value	225.0	208.4
Treasury stock, at cost	(279.3)	(281.9)
Retained earnings	2,391.5	2,337.9
Accumulated other comprehensive loss, net of tax:
Foreign currency translation	(318.4)	(317.7)
Derivative financial instruments	63.2	71.7
Minimum pension liabilities	(72.9)	(70.5)
Total Greif, Inc. shareholders’ equity	2,009.1	1,947.9
Noncontrolling interests	38.3	38.4
Total shareholders’ equity	2,047.4	1,986.3
Total liabilities and shareholders’ equity	$ 6,828.8	$ 5,960.8

v3.24.1.1.u2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash flows from operating activities:
Net income	$ 126.3	$ 209.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion and amortization	126.3	111.7
Non-cash asset impairment charges	1.7	1.8
Gain on disposals of properties, plants and equipment, net	(3.0)	(5.0)
Gain on disposals of businesses, net	0.0	(64.4)
Unrealized foreign exchange loss	9.5	4.2
Deferred income tax (benefit) expense	(53.4)	1.6
Non-cash lease expense	33.0	23.2
Other, net	1.2	(0.4)
Increase (decrease) in cash from changes in certain assets and liabilities, net of impacts from acquisitions:
Trade accounts receivable	(65.9)	66.0
Inventories	(37.5)	38.6
Accounts payable	49.1	(66.9)
Restructuring reserves	(10.6)	(0.3)
Operating leases	(32.8)	(23.4)
Pension and post-retirement benefit liabilities	(7.9)	(14.8)
Other, net	(44.0)	(37.3)
Net cash provided by operating activities	92.0	243.7
Cash flows from investing activities:
Purchases of business, net of cash acquired	(567.6)	(447.5)
Purchases of properties, plants and equipment	(96.6)	(91.1)
Purchases of timber properties	(3.1)	(3.2)
Payments for deferred purchase price of acquisitions	(1.2)	(21.7)
Proceeds from the sale of properties, plants, equipment and other assets	5.9	6.9
Proceeds from the sale of businesses	0.0	105.6
Net cash used in investing activities	(662.6)	(451.0)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,571.6	1,252.0
Payments on long-term debt	(902.6)	(919.5)
Proceeds (payments) on short-term borrowings, net	6.4	(4.0)
Proceeds from trade accounts receivable credit facility	44.1	86.6
Payments on trade accounts receivable credit facility	(49.2)	(53.9)
Dividends paid to Greif, Inc. shareholders	(59.7)	(57.9)
Dividends paid to noncontrolling interests	(10.1)	(4.9)
Payments for share repurchases	0.0	(59.6)
Tax withholding payments for stock-based awards	(10.6)	(13.7)
Purchases of redeemable noncontrolling interest	0.0	(3.3)
Other, net	(5.0)	(6.2)
Net cash provided by financing activities	584.9	215.6
Effects of exchange rates on cash	0.8	3.1
Net increase in cash and cash equivalents	15.1	11.4
Cash and cash equivalents at beginning of period	180.9	147.1
Cash and cash equivalents at end of period	$ 196.0	$ 158.5

v3.24.1.1.u2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Millions	Total	Directors	Greif, Inc. Equity	Greif, Inc. Equity Directors	Common Stock	Common Stock Directors	Treasury Stock	Treasury Stock Directors	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non controlling interests
Beginning balance (in shares) at Oct. 31, 2022					47,443
Beginning balance at Oct. 31, 2022	$ 1,794.3		$ 1,761.3		$ 173.5		$ (205.1)		$ 2,095.2	$ (302.3)	$ 33.0
Beginning balance (in shares) at Oct. 31, 2022							29,399
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	209.1		201.1						201.1		8.0
Other comprehensive income (loss):
Foreign currency translation	49.0		48.8							48.8	0.2
Derivative financial instruments, net of income tax benefit (expense)	(30.8)		(30.8)							(30.8)
Minimum pension liability adjustment, net of income tax benefit (expense)	(3.8)		(3.8)							(3.8)
Comprehensive income	223.5		215.3
Current period mark to redemption value of redeemable noncontrolling interest and other	1.0		1.0						1.0
Net income allocated to redeemable noncontrolling interests	(0.2)										(0.2)
Dividends paid to Greif, Inc. shareholders	(57.9)		(57.9)						(57.9)
Dividends paid to noncontrolling interests and other	(5.9)										(5.9)
Dividends earned on RSU shares	0.3		0.3						0.3
Share repurchases (in shares)					(949)		949
Share repurchases	(59.6)		(59.6)		$ 15.0		$ (74.6)
Long-term incentive shares issued (in shares)					349		(349)
Long-term incentive shares issued	16.6		16.6		$ 14.6		$ 2.0
Share based compensation	1.5		1.5		$ 1.5
Restricted stock (in shares)						18		(18)
Restricted stock		$ 1.3		$ 1.3		$ 1.2		$ 0.1
Ending balance (in shares) at Apr. 30, 2023					46,861
Ending balance at Apr. 30, 2023	1,914.9		1,879.8		$ 205.8		$ (277.6)		2,239.7	(288.1)	35.1
Ending balance (in shares) at Apr. 30, 2023							29,981
Beginning balance (in shares) at Jan. 31, 2023					47,542
Beginning balance at Jan. 31, 2023	1,882.2		1,845.4		$ 188.5		$ (221.1)		2,157.4	(279.4)	36.8
Beginning balance (in shares) at Jan. 31, 2023							29,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	116.0		111.2						111.2		4.8
Other comprehensive income (loss):
Foreign currency translation	(2.3)		(2.2)							(2.2)	(0.1)
Derivative financial instruments, net of income tax benefit (expense)	(5.1)		(5.1)							(5.1)
Minimum pension liability adjustment, net of income tax benefit (expense)	(1.4)		(1.4)							(1.4)
Comprehensive income	107.2		102.5
Current period mark to redemption value of redeemable noncontrolling interest and other	0.2		0.2						0.2
Net income allocated to redeemable noncontrolling interests	(0.5)										(0.5)
Dividends paid to Greif, Inc. shareholders	(29.0)		(29.0)						(29.0)
Dividends paid to noncontrolling interests and other	(5.9)										(5.9)
Dividends earned on RSU shares	(0.1)		(0.1)						(0.1)
Share repurchases (in shares)					(717)		717
Share repurchases	(41.8)		(41.8)		$ 15.0		$ (56.8)
Long-term incentive shares issued (in shares)					18		(18)
Long-term incentive shares issued	1.0		1.0		$ 0.8		$ 0.2
Share based compensation	0.3		0.3		$ 0.3
Restricted stock (in shares)						18		(18)
Restricted stock		1.3		1.3		$ 1.2		$ 0.1
Ending balance (in shares) at Apr. 30, 2023					46,861
Ending balance at Apr. 30, 2023	1,914.9		1,879.8		$ 205.8		$ (277.6)		2,239.7	(288.1)	35.1
Ending balance (in shares) at Apr. 30, 2023							29,981
Beginning balance (in shares) at Oct. 31, 2023					46,805
Beginning balance at Oct. 31, 2023	1,986.3		1,947.9		$ 208.4		$ (281.9)		2,337.9	(316.5)	38.4
Beginning balance (in shares) at Oct. 31, 2023							30,037
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126.3		111.6						111.6		14.7
Other comprehensive income (loss):
Foreign currency translation	(1.6)		(0.7)							(0.7)	(0.9)
Derivative financial instruments, net of income tax benefit (expense)	(8.5)		(8.5)							(8.5)
Minimum pension liability adjustment, net of income tax benefit (expense)	(2.4)		(2.4)							(2.4)
Comprehensive income	113.8		100.0
Current period mark to redemption value of redeemable noncontrolling interest and other	1.8		1.8						1.8
Net income allocated to redeemable noncontrolling interests	(3.8)										(3.8)
Dividends paid to Greif, Inc. shareholders	(59.7)		(59.7)						(59.7)
Dividends paid to noncontrolling interests and other	(10.1)										(10.1)
Dividends earned on RSU shares	(0.1)		(0.1)						(0.1)
Colleague stock purchase plan (in shares)					33		(33)
Colleague stock purchase plan	2.3		2.3		$ 2.0		$ 0.3
Long-term incentive shares issued (in shares)					283		(283)
Long-term incentive shares issued	12.7		12.7		$ 10.5		$ 2.2
Share based compensation	3.1		3.1		$ 3.1
Restricted stock (in shares)						18		(18)
Restricted stock		1.1				$ 1.0	0.1
Ending balance (in shares) at Apr. 30, 2024					47,139
Ending balance at Apr. 30, 2024	2,047.4		2,009.1		$ 225.0		$ (279.3)		2,391.5	(328.1)	38.3
Ending balance (in shares) at Apr. 30, 2024							29,703
Beginning balance (in shares) at Jan. 31, 2024					47,121
Beginning balance at Jan. 31, 2024	2,036.4		1,992.5		$ 222.1		$ (279.5)		2,377.7	(327.8)	43.9
Beginning balance (in shares) at Jan. 31, 2024							29,721
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	52.0		44.4						44.4		7.6
Other comprehensive income (loss):
Foreign currency translation	(29.2)		(28.3)							(28.3)	(0.9)
Derivative financial instruments, net of income tax benefit (expense)	27.7		27.7							27.7
Minimum pension liability adjustment, net of income tax benefit (expense)	0.3		0.3							0.3
Comprehensive income	50.8		44.1
Current period mark to redemption value of redeemable noncontrolling interest and other	(0.5)		(0.5)						(0.5)
Net income allocated to redeemable noncontrolling interests	(2.2)										(2.2)
Dividends paid to Greif, Inc. shareholders	(30.0)		(30.0)						(30.0)
Dividends paid to noncontrolling interests and other	(10.1)										(10.1)
Dividends earned on RSU shares	(0.1)		(0.1)						(0.1)
Colleague stock purchase plan	0.3		0.3		0.2		$ 0.1
Share based compensation	1.7		1.7		$ 1.7
Restricted stock (in shares)						18		(18)
Restricted stock		$ 1.1		$ 1.1		$ 1.0	0.1
Ending balance (in shares) at Apr. 30, 2024					47,139
Ending balance at Apr. 30, 2024	$ 2,047.4		$ 2,009.1		$ 225.0		$ (279.3)		$ 2,391.5	$ (328.1)	$ 38.3
Ending balance (in shares) at Apr. 30, 2024							29,703

v3.24.1.1.u2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Derivative, income tax (benefit) expense	$ 9.1	$ (1.8)	$ (2.8)	$ (10.3)
Minimum pension liability adjustment, income tax benefit (expense)	$ 0.1	$ 0.4	$ 0.2	$ (0.5)
Class A Common Stock
Dividend paid (in usd per share)	$ 0.52	$ 0.50	$ 1.04	$ 1.00
Class B Common Stock
Dividend paid (in usd per share)	$ 0.78	$ 0.75	$ 1.55	$ 1.49

v3.24.1.1.u2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The interim condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions to Quarterly Reports on Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates. The fiscal year of Greif, Inc. and its subsidiaries (the “Company”) begins on November 1 and ends on October 31 of the following year. Any references to years or to any quarter of those years, relates to the fiscal year or quarter, as the case may be, ended in that year, unless otherwise stated. The information filed herein reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated balance sheet as of April 30, 2024 and the condensed consolidated balance sheet as of October 31, 2023, the interim condensed consolidated statements of income, comprehensive income and changes in shareholders’ equity for the three and six months ended April 30, 2024 and 2023 and the interim condensed consolidated statements of cash flows for the six months ended April 30, 2024 and 2023 of the Company. The interim condensed consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and consolidated subsidiaries and investments in limited liability companies, partnerships and joint ventures in which it has controlling influence or is the primary beneficiary. Non-majority owned entities include investments in limited liability companies, partnerships and joint ventures in which the Company does not have controlling interest and are accounted for using either the equity or cost method, as appropriate. The unaudited interim condensed consolidated financial statements included in this Quarterly Report on Form 10-Q (this “Form 10-Q”) should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended October 31, 2023 (the “2023 Form 10-K”). Newly Adopted Accounting Standards There have been no new accounting standards adopted since the filing of the 2023 Form 10-K that have significance, or potential significance, to the interim condensed consolidated financial statements. Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, "Income Taxes (Topic 740): Improvements to Tax Disclosures,” which is intended to improve the effectiveness of income tax disclosures. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU is for the fiscal year beginning October 1, 2025. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU is for the fiscal year and interim periods beginning November 1, 2024 and October 1, 2025 respectively. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

v3.24.1.1.u2

ACQUISITIONS AND DIVESTITURES	6 Months Ended
	Apr. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
ACQUISITIONS AND DIVESTITURES	ACQUISITIONS AND DIVESTITURES 2024 Acquisitions Ipackchem Acquisition The Company acquired Ipackchem Group SAS (“Ipackchem”) on March 26, 2024 (the “Ipackchem Acquisition”). Ipackchem is a global market leader in the production of high-performance plastic packaging, including premium barrier and non-barrier jerrycans and other small plastic containers. The total purchase price for this acquisition was $582.1 million. The Company incurred transaction costs of $8.9 million to complete this acquisition. 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 receivable 50.9  Inventories 36.7  Other current assets 4.9  Intangibles 231.7  Operating lease right-of-use assets 15.1  Finance lease right-of-use assets 8.2  Other long-term assets 1.0  Properties, plants and equipment 91.5  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 Company recognized goodwill related to this acquisition of $275.8 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 Global Industrial Packaging 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 straight-line basis. The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair value for acquired developed technology was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from developed technology that existed on the acquisition date over their estimated lives. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate.  Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 182.4  15.0 Developed technology 39.0  8.0 Trademarks 10.3  5.0 Total intangible assets $ 231.7  The Company has not yet finalized the determination of the fair value of assets acquired and liabilities assumed. The Company expects to finalize these amounts within one year of the acquisition date. The estimate of fair value and purchase price allocation were based on information available at the time of closing the acquisition, and the Company continues to evaluate the underlying inputs and assumptions that are being used in the fair value estimates of all assets acquired and liabilities assumed. Accordingly, these preliminary estimates are subject to adjustments during the measurement period, not to exceed one year from the acquisition date, based upon new information obtained about facts and circumstances that existed as of the date of closing the acquisition. Ipackchem’s results of operations have been included in the Company’s financial statements for the period subsequent to the acquisition date of March 26, 2024. Ipackchem contributed net sales of $22.6 million for the three months ended April 30, 2024. Pro Forma Results 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) 2024 2023 2024 2023 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 unaudited supplemental pro forma financial information is based on the Company’s preliminary assignment of purchase price and therefore subject to adjustment upon finalizing the purchase price assignment. The pro forma data should not be considered indicative of the results that would have occurred if the acquisition and related financing had been consummated on the assumed completion dates, nor are they indicative of future results. 2023 Acquisitions ColePak Acquisition The Company acquired a 51% ownership interest in ColePak, LLC (“ColePak”) on August 23, 2023 (the “ColePak Acquisition”). ColePak is a manufacturer of bulk and specialty partitions made from both containerboard and uncoated recycled board and is the second largest supplier of paper partitions in North America. The total purchase price for this acquisition, net of cash acquired, was $74.6 million. The fair value of the remaining noncontrolling interest of 49% after the acquisition was $72.1 million, which was determined using a Monte Carlo option pricing model, and is redeemable through contractual terms. 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 Date Measurement Period Adjustments Amount Recognized as of Acquisition Date (as Adjusted) Fair value of consideration transferred Cash consideration $ 74.6  $ —  $ 74.6  Noncontrolling interest 72.1  —  72.1  Recognized amounts of identifiable assets acquired and liabilities assumed Accounts receivable $ 6.7  $ —  $ 6.7  Inventories 3.3  —  3.3  Intangibles 59.0  —  59.0  Operating lease right-of use assets 8.6  —  8.6  Properties, plants and equipment 19.4  —  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 Company recognized goodwill related to this acquisition of $60.1 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expected synergies, economies of scale and expanded market presence, none of which qualify for recognition as a separate intangible asset. ColePak is reported within the Paper Packaging & Services segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes. The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate.  Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 50.6  15.0 Trademarks 8.4  5.0 Total intangible assets $ 59.0  The Company has not yet finalized the determination of the fair value of assets acquired and liabilities assumed, including income taxes and contingencies. The Company expects to finalize these amounts within one year of the acquisition date. The estimate of fair value and purchase price allocation were based on information available at the time of closing the acquisition, and the Company continues to evaluate the underlying inputs and assumptions that are being used in fair value estimates. Accordingly, these preliminary estimates are subject to adjustments during the measurement period, not to exceed one year from the date of the acquisition, based upon new information obtained about facts and circumstances that existed as of the date of closing the acquisition. Centurion Acquisition The Company completed its acquisition of controlling influence over Centurion Container LLC (“Centurion”) on March 31, 2023 (the “Centurion Acquisition”), by increasing the Company’s ownership interest in Centurion from approximately 10% to 80%. Centurion is a leader in the North American intermediate bulk container (“IBC”) reconditioning industry and is involved in IBC rebottling, reconditioning, and distribution. The total purchase price for this acquisition, net of cash acquired, was $144.5 million. The fair value of the remaining noncontrolling interest of 20% after the acquisition was $40.9 million, which was determined using the implied enterprise value based on the purchase price and redemption mechanism, and is redeemable through contractual terms. Prior to the acquisition, the Company accounted for its approximately 10% ownership interest under the equity method of accounting. The acquisition of a controlling financial interest was accounted for as a step acquisition in accordance with Accounting Standards Codification (“ASC”) 805, “Business Combinations”. As a result, fair value of our previously held interest in Centurion of $16.8 million was valued using a discounted cash flow model, resulting in a gain of $9.8 million. The gain was reflected in the consolidated statements of income within the gain on disposal of businesses, net line. 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 Date Measurement Period Adjustments Amount Recognized as of Acquisition Date (as Adjusted) Fair value of consideration transferred Cash consideration $ 144.5  $ —  $ 144.5  Noncontrolling interest 40.9  —  40.9  Previously held interest 16.8  —  16.8  Recognized amounts of identifiable assets acquired and liabilities assumed Accounts receivable $ 12.4  $ —  $ 12.4  Inventories 2.0  —  2.0  Prepaid and other current assets 0.4  —  0.4  Intangibles 83.4  9.4  92.8  Operating lease right-of use assets 10.2  —  10.2  Properties, plants and equipment 7.7  —  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 Company recognized goodwill related to this acquisition of $95.4 million. The goodwill recognized in this acquisition was attributable to the acquired assembled workforce, expanded market presence and enhanced business network, none of which qualify for recognition as a separate intangible asset. Centurion is reported within the Global Industrial Packaging segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes. The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate.  Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 77.5  12.0 Favorable leases 1.6  19.0 Trademarks 13.7  5.0 Total intangible assets $ 92.8  As of April 30, 2024, the Company had completed the determination of the fair value of assets acquired and liabilities assumed related to the Centurion Acquisition. Lee Container Acquisition The Company acquired Lee Container Corporation, Inc. (“Lee Container”) on December 15, 2022 (the “Lee Container Acquisition”). Lee Container is an industry-leading manufacturer of high-performance barrier and conventional blow molded containers, jerrycans and other small plastics. The total purchase price for this acquisition, net of cash acquired, was $303.0 million. 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 Date Measurement Period Adjustments Amount 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  Inventories 27.5  (5.2) 22.3  Prepaid and other current assets 0.5  —  0.5  Intangibles 133.5  —  133.5  Finance lease right-of use assets 32.4  1.0  33.4  Properties, plants and equipment 54.7  —  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  The Company recognized goodwill related to this acquisition of $75.9 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. Lee Container is reported within the Global Industrial Packaging segment to which the goodwill was assigned. The goodwill is expected to be deductible for tax purposes. The cost approach was used to determine the fair value for 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 building improvements a useful life ranging from 1 year to 9 years and equipment a useful life ranging from 1 year to 19 years. Acquired property, plant and equipment are being depreciated over their estimated remaining useful lives on a straight-line basis. The fair value for acquired customer relationship intangibles was determined as of the acquisition date based on estimates and judgments regarding expectations for the future after-tax cash flows arising from the revenue from customer relationships that existed on the acquisition date over their estimated lives, including the probability of expected future contract renewals and revenue, less a contributory assets charge, all of which is discounted to present value. The fair values of the trademark intangible assets were determined utilizing the relief from royalty method, which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trademarks and discounted to present value using an appropriate discount rate.  Acquired intangible assets are being amortized over the estimated useful lives on a straight-line basis. 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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 120.0  15.0 Trademarks 13.5  5.0 Total intangible assets $ 133.5  As of January 31, 2024, the Company had completed the determination of the fair value of assets acquired and liabilities assumed related to the Lee Container Acquisition. Pro Forma Results 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) 2023 2023 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  The pro forma data should not be considered indicative of the results that would have occurred if the acquisition and related financing had been consummated on the assumed completion dates, nor are they indicative of future results. Divestitures Tama Divestiture During the first quarter of 2023, the Company completed its divestiture of a U.S. business in the Paper Packaging & Services segment, Tama Paperboard, LLC (the “Tama Divestiture”), for current net cash proceeds of $100.2 million. The Tama Divestiture did not qualify as discontinued operations because it did not represent a strategic shift that has had a major impact on the Company’s operations or financial results. The Tama Divestiture resulted in $54.6 million gain on sale of business, including goodwill allocated to the sale of $22.5 million.

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RESTRUCTURING CHARGES	6 Months Ended
	Apr. 30, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2024: (in millions) Employee Separation Costs Other Costs Total Balance at October 31, 2023 $ 16.4  $ 0.4  $ 16.8  Costs incurred and charged to expense (5.7) 4.6  (1.1) Costs paid or otherwise settled (4.9) (4.6) (9.5) Balance at April 30, 2024 $ 5.8  $ 0.4  $ 6.2  The focus for restructuring activities in 2024 is to optimize operations. During the three months ended April 30, 2024, the Company recorded restructuring charges of $(6.8) million, as compared to $2.4 million of restructuring charges recorded during the three months ended April 30, 2023. The restructuring activity for the three months ended April 30, 2024 consisted of ($9.0) million release of prior period restructuring severance accrual no longer probable of occurring, $0.4 million in employee separation costs and $1.8 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. During the six months ended April 30, 2024, the Company recorded restructuring charges of $(1.1) million, as compared to $4.8 million of restructuring charges recorded during the six months ended April 30, 2023. The restructuring activity for the six months ended April 30, 2024 consisted of ($9.0) million release of prior period restructuring severance accrual no longer probable of occurring, $3.3 million in employee separation costs and $4.6 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities. 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 $13.7 million as of April 30, 2024: (in millions) Total Amounts Expected to be Incurred Amounts Incurred During the Six Months Ended April 30, 2024 Amounts Remaining to be Incurred Global Industrial Packaging Employee separation costs $ (4.2) $ (8.0) $ 3.8  Other restructuring costs 2.0  0.3  1.7  (2.2) (7.7) 5.5  Paper Packaging & Services Employee separation costs 2.5  2.3  0.2  Other restructuring costs 12.3  4.3  8.0  14.8  6.6  8.2  $ 12.6  $ (1.1) $ 13.7

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LONG-TERM DEBT	6 Months Ended
	Apr. 30, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt is summarized as follows: (in millions) April 30, 2024 October 31, 2023 2022 Credit Agreement - Term Loans $ 1,751.6  $ 1,493.8  2023 Credit Agreement - Term Loan 292.5  296.3  Accounts receivable credit facilities 346.8  351.0  2022 Credit Agreement - Revolving Credit Facility 492.2  77.3  Other debt 4.0  —  2,887.1  2,218.4  Less: current portion 95.8  88.3  Less: deferred financing costs 8.4  8.7  Long-term debt, net $ 2,782.9  $ 2,121.4  Credit Agreements The Company and certain of its subsidiaries are parties to a senior secured credit agreement (the “2022 Credit Agreement”) with a syndicate of financial institutions. The 2022 Credit Agreement provides for (a) an $800.0 million secured revolving credit facility, consisting of a $725.0 million multicurrency facility and a $75.0 million U.S. dollar facility, maturing on March 1, 2027, (b) a $1,100.0 million secured term loan A-1 facility with quarterly principal installments that commenced on July 31, 2022 and continue through January 31, 2027, with any outstanding principal balance of such term loan A-1 facility being due and payable on maturity on March 1, 2027, (c) a $515.0 million secured term loan A-2 facility with quarterly principal installments that commenced on July 31, 2022 and continue through January 31, 2027, with any outstanding principal balance of such term loan A-2 being due and payable on maturity on March 1, 2027, and (d) as further described below, a $300.0 million incremental secured term loan A-4 facility with quarterly principal installments that commenced on April 30, 2024 and continue through January 31, 2027, with any outstanding principal balance of such term loan A-4 being due and payable on maturity on March 1, 2027. Subject to the terms of the 2022 Credit Agreement, the Company has an option to borrow additional funds under the 2022 Credit Agreement with the agreement of the lenders. On March 25, 2024, the Company and certain of its subsidiaries entered into an incremental term loan agreement (the “Incremental Term Loan A-4 Agreement”) with a syndicate of financial institutions. The Incremental Term Loan A-4 Agreement is an amendment to the 2022 Credit Agreement. The Incremental Term Loan A-4 Agreement provided for a loan in the aggregate principal amount of $300.0 million that was made available in a single draw on March 25, 2024 (the “Incremental Term Loan A-4”). Amounts repaid or prepaid in respect of the Incremental Term Loan A-4 may not be reborrowed. The Incremental Term Loan A-4 amortizes at 2.50% per annum in equal quarterly principal installments, with the remaining outstanding principal balance due on March 1, 2027. The terms and provisions of the Incremental Term Loan A-4 are identical in all material respects to the terms and provisions of the other term loans made under the 2022 Credit Agreement. The Company’s obligations with respect to the Incremental Term Loan A-4 are secured and guaranteed with the other obligations under the 2022 Credit Agreement on a pari passu basis. The Company used the proceeds from the Incremental Term Loan A-4 to repay funds drawn on the revolving credit facility under the 2022 Credit Agreement for the purchase of Ipackchem on March 26, 2024. Interest is based on Secured Overnight Financing Rate (“SOFR”) plus a credit spread adjustment or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio. On May 17, 2023, the Company and Greif Packaging LLC, a direct wholly owned subsidiary of Greif, Inc. (“Greif Packaging”), entered into a $300.0 million senior secured credit agreement (the “2023 Credit Agreement” and, together with the 2022 Credit Agreement, the “2022 and 2023 Credit Agreements”) with CoBank, ACB (“CoBank”), which acted as a lender and is acting as administrative agent of the 2023 Credit Agreement. The 2023 Credit Agreement is permitted incremental equivalent debt under the terms of the 2022 Credit Agreement. The 2023 Credit Agreement provides for a $300.0 million secured term loan facility with quarterly principal installments that commenced on July 31, 2023 and will continue through January 31, 2028, with any outstanding principal balance of such term loan being due and payable on maturity on May 17, 2028. The Company used the borrowing under the 2023 Credit Agreement to repay and refinance a portion of the outstanding borrowings under the 2022 Credit Agreement. Interest accruing under the 2023 Credit Agreement is based on SOFR plus a credit spread adjustment or a base rate that resets periodically plus, in each case, a calculated margin amount that is based on the Company’s leverage ratio. As of April 30, 2024, $2,536.3 million was outstanding under the 2022 and 2023 Credit Agreements. The current portion was $95.8 million, and the long-term portion was $2,440.5 million. The weighted average interest rate for borrowings under the 2022 and 2023 Credit Agreements was 6.36% for the six months ended April 30, 2024. The actual interest rate for borrowings under the 2022 and 2023 Credit Agreements was 6.81% as of April 30, 2024. The deferred financing costs associated with the term loan portion of the 2022 and 2023 Credit Agreements totaled $8.4 million as of April 30, 2024 and are recorded as a reduction of long-term debt on the interim condensed consolidated balance sheets. The deferred financing costs associated with the revolving portion of the 2022 Credit Agreement totaled $3.0 million as of April 30, 2024 and are recorded within other long-term assets on the interim condensed consolidated balance sheets. United States Trade Accounts Receivable Credit Facility Greif Receivables Funding LLC (“Greif Funding”), Greif Packaging, and certain other U.S. subsidiaries of the Company are parties to an amended and restated U.S. Receivables Financing Facility Agreement (the “U.S. RFA”). On May 17, 2024, the maturity date of the U.S. RFA was extended to May 16, 2025. The U.S. RFA provides an accounts receivable financing facility of $300.0 million. As of April 30, 2024, there was a $259.3 million ($270.9 million as of October 31, 2023) outstanding under the U.S. RFA that is reported as long-term debt on the interim condensed consolidated balance sheets because the Company intends to refinance these obligations on a long-term basis and has the intent and ability to consummate a long-term refinancing. Greif Funding is a direct subsidiary of Greif Packaging and is included in the Company’s consolidated financial statements. However, because Greif Funding is a separate and distinct legal entity from the Company, the assets of Greif Funding are not available to satisfy the liabilities and obligations of the Company, Greif Packaging or other subsidiaries of the Company, and the liabilities of Greif Funding are not the liabilities or obligations of the Company or its other subsidiaries. International Trade Accounts Receivable Credit Facility Cooperage Receivables Finance B.V. and Greif Services Belgium BV, an indirect wholly owned subsidiary of Greif, Inc., are parties to an amended and restated Nieuw Amsterdam Receivables Financing Agreement (the “European RFA”) with affiliates of a major international bank. On April 19, 2024, the maturity date of the European RFA was extended to April 22, 2025. The European RFA provides an accounts receivable financing facility of up to €100.0 million ($106.9 million as of April 30, 2024) secured by certain European accounts receivable. As of April 30, 2024, $87.5 million ($80.1 million as of October 31, 2023) was outstanding on the European RFA that is reported as long-term debt on the interim condensed consolidated balance sheets because the Company intends to refinance these obligations on a long-term basis and has the intent and ability to consummate a long-term refinancing.

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	6 Months Ended
	Apr. 30, 2024
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements The following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 2024 and October 31, 2023: April 30, 2024 Assets Liabilities (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest rate derivatives $ —  $ 73.9  $ —  $ 73.9  $ —  $ (0.4) $ —  $ (0.4) Foreign exchange hedges —  0.2  —  0.2  —  (0.6) —  (0.6) Insurance annuity —  —  19.0  19.0  —  —  —  —  Cross currency swap —  18.6  —  18.6  —  (5.4) —  (5.4) October 31, 2023 Assets Liabilities (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest rate derivatives $ —  $ 78.4  $ —  $ 78.4  $ —  $ —  $ —  $ —  Foreign exchange hedges —  0.1  —  0.1  —  (0.1) —  (0.1) Insurance annuity —  —  18.8  18.8  —  —  —  —  Cross currency swap —  18.9  —  18.9  —  —  —  —  The carrying amounts of cash and cash equivalents, trade accounts receivable, accounts payable, current liabilities and short-term borrowings as of April 30, 2024 and October 31, 2023 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 April 30, 2024, the Company has various interest rate swaps with a total notional amount of $1,400.0 million ($1,300.0 million as of October 31, 2023), 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 2.97%. This effectively converted 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 is 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 11 to the interim condensed consolidated financial statements 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 upon a designated fixed rate over the life of the swap agreements. Gains reclassified to earnings under these contracts were $8.9 million and $6.6 million for the three months ended April 30, 2024, and 2023, respectively. Gains reclassified to earnings under these contracts were $18.6 million and $11.3 million for the six months ended April 30, 2024, and 2023, respectively. A derivative gain of $31.5 million, based upon interest rates at April 30, 2024, is expected to be reclassified from accumulated other comprehensive income (loss) to earnings in the next twelve months. Foreign Exchange Hedges The Company conducts business in various international currencies and is subject to risks associated with changing foreign exchange rates. The Company’s objective is to reduce volatility associated with foreign exchange rate changes. Accordingly, the Company enters into various contracts that change in value as foreign exchange rates change to protect the value of certain existing foreign currency assets and liabilities, commitments and anticipated foreign currency cash flows. As of April 30, 2024, and October 31, 2023, the Company had outstanding foreign currency forward contracts in the notional amount of $101.0 million and $66.0 million, respectively. Adjustments to fair value are recognized in earnings, offsetting the impact of the hedged profits. The assumptions used in measuring fair value of foreign exchange hedges are considered level 2 inputs, which are based on observable market pricing for similar instruments, principally foreign exchange futures contracts. For the three months ended April 30, 2024, and 2023, the Company recorded realized gains of $2.9 million and $0.6 million, respectively, under fair value contracts in other expense, net. For the six months ended April 30, 2024, and 2023, the Company recorded realized gains of $2.9 million and $0.7 million, respectively, under fair value contracts in other expense, net. For the three months ended April 30, 2024, and 2023, the Company recorded unrealized net gains (losses) of $(2.8) million and $1.3 million, respectively, in other expense, net. For the six months ended April 30, 2024, and 2023, the Company recorded unrealized net losses of $0.4 million and $1.5 million, respectively, in other expense, net. Cross Currency Swap The Company has operations and investments in various international locations and is subject to risks associated with changing foreign exchange rates. As of April 30, 2024, the Company has various cross currency interest rate swaps that synthetically swap $447.6 million ($319.3 million as of October 31, 2023) of U.S. fixed rate debt to Euro denominated fixed rate debt. The Company receives a weighted average rate of 1.27% on these swaps. These agreements are designated as either net investment hedges or cash flow hedges for accounting purposes and will mature between August 10, 2026 and November 3, 2028. The gain or loss on these net investment hedge derivative instruments is included in the foreign currency translation component of other comprehensive income until the net investment is sold, diluted, or liquidated. See Note 11 to the interim condensed consolidated financial statements for additional disclosures of the aggregate gain or loss included within other comprehensive income. The gain or loss on the cash flow hedge derivative instruments is included in the unrealized foreign exchange component of other expense, offset by the underlying gain or loss on the underlying cash flows that are being hedged. Interest payments received for the cross currency swap are excluded from the net investment hedge effectiveness assessment and are recorded in interest expense, net on the consolidated statements of income. The assumptions used in measuring fair value of the cross currency swap are considered level 2 inputs, which are based upon the Euro to United States dollar exchange rate market. For the three months ended April 30, 2024 and 2023, gains recorded in interest expense, net under the cross currency swap agreements were $1.6 million and $1.2 million, respectively,. For the six months ended April 30, 2024 and 2023, gains recorded in interest expense, net under the cross currency swap agreements were $3.5 million and $2.6 million, respectively. Other Financial Instruments The fair values of the Company’s 2022 Credit Agreement, the 2023 Credit Agreement, the U.S. RFA, and the European RFA do not materially differ from carrying value as the Company’s cost of borrowing is variable and approximates current borrowing rates. The fair values of the Company’s long-term obligations are estimated based on either the quoted market prices for the same or similar issues or the current interest rates offered for the debt of the same remaining maturities, which are considered level 2 inputs in accordance with ASC Topic 820, “Fair Value Measurements and Disclosures.”

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STOCK-BASED COMPENSATION	6 Months Ended
	Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Long-Term Incentive Plan The Company granted 120,843 restricted stock units (“RSUs”) on December 12, 2023, for the performance period commencing on November 1, 2023 and ending September 30, 2026. The weighted average fair value of the RSUs granted on that date was $62.83. During 2024, the Company issued 53,060 shares of Class A Common Stock excluding shares withheld for the payment of taxes owed by recipients for RSUs vested for the performance period commenced on November 1, 2020 and ended October 31, 2023. The Company granted 202,402 performance stock units (“PSUs”) on December 12, 2023, for the performance period commencing on November 1, 2023 and ending September 30, 2026. If earned, the PSUs are to be awarded in shares of Class A Common Stock. The weighted average fair value of the PSUs granted on that date was $60.77. During 2024, the Company issued 229,859 shares of Class A Common Stock excluding shares withheld for the payment of taxes owed by recipients for PSUs vested for the performance period commenced on November 1, 2020 and ended October 31, 2023.

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INCOME TAXES	6 Months Ended
	Apr. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense for the quarter and income tax benefit for year to date was computed in accordance with ASC 740-270 "Income Taxes - Interim Reporting." Under this method, losses from jurisdictions for which a valuation allowance has been provided have not been included in the amount to which the ASC 740-270 rate was applied. Income tax expense of the Company may fluctuate due to changes in estimated losses and income from jurisdictions for which a valuation allowance has been provided, the timing of recognition of the related income tax expense under ASC 740-270, and the impact of discrete items in the respective quarter. For the six months ended April 30, 2024 and April 30, 2023, income tax (benefit) expense was $(21.2) million and $76.8 million, respectively. The $98.0 million net decrease in income tax expense was primarily attributable to the following: •A $22.7 million decrease in tax due to changes in the mix of earnings among tax jurisdictions, including jurisdictions for which valuation allowances have been recorded, as well as the timing of recognition of the related income tax expense under ASC 740-270. •One-time discrete tax benefits of $48.1 million related to the recognition of deferred tax assets due to the onshoring of certain non-U.S. intangible property. •An $8.4 million decrease due to changes in income tax expense related to prior year tax returns and audits. •In 2023, $18.8 million of expense was recorded for nondeductible goodwill associated with the Tama Divestiture.

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POST RETIREMENT BENEFIT PLANS	6 Months Ended
	Apr. 30, 2024
Retirement Benefits [Abstract]
POST RETIREMENT BENEFIT PLANS	POST RETIREMENT BENEFIT PLANS The components of net periodic pension cost include the following:   Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Service cost $ 1.7  $ 2.0  $ 3.4  $ 4.0  Interest cost 8.7  8.7  17.3  17.4  Expected return on plan assets (10.7) (9.7) (21.5) (19.4) Amortization of prior service benefit (0.1) (0.1) (0.2) (0.2) Recognized net actuarial gain (0.3) (0.6) (0.5) (1.1) Net periodic pension (benefit) cost $ (0.7) $ 0.3  $ (1.5) $ 0.7  The Company expects to make employer contributions of $8.0 million, including benefits paid directly by the Company, during 2024. The components of net periodic pension cost and net periodic post-retirement benefit, other than the service cost components, are included in the line item “Other expense, net” in the interim condensed consolidated statements of income.

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CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	6 Months Ended
	Apr. 30, 2024
Environmental Remediation Obligations [Abstract]
CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES	CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES Litigation-related Liabilities The Company may become involved from time-to-time in litigation and regulatory matters incidental to its business, including governmental investigations, enforcement actions, personal injury claims, product liability, employment health and safety matters, commercial disputes, intellectual property matters, disputes regarding environmental clean-up costs, litigation in connection with acquisitions and divestitures, and other matters arising out of the normal conduct of its business. The Company intends to vigorously defend itself in such litigation. The Company does not believe that the outcome of any pending litigation will have a material adverse effect on its interim condensed consolidated financial statements. The Company may accrue for contingencies related to litigation and regulatory matters if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions can occur, assessing contingencies is highly subjective and requires judgments about future events. The Company regularly reviews contingencies to determine whether its accruals are adequate. The amount of ultimate loss may differ from these estimates. Environmental Reserves As of April 30, 2024, and October 31, 2023, the Company’s environmental reserves were $18.3 million and $17.3 million, respectively (including $9.8 million for the Diamond Alkali Superfund Site in the New Jersey). These reserves are principally based on environmental studies and cost estimates provided by third parties, but also take into account management estimates. The estimated liabilities are reduced to reflect the anticipated participation of other potentially responsible parties in those instances where it is probable that such parties are legally responsible and financially capable of paying their respective shares of relevant costs. For sites that involve formal actions subject to joint and several liabilities, these actions have formal agreements in place to apportion the liability. It is possible that there could be resolution of uncertainties in the future that would require the Company to record charges that could be material to future earnings. The Company’s exposure to adverse developments with respect to any individual site is not expected to be material. Although environmental remediation could have a material effect on results of operations if a series of adverse developments occur in a particular quarter or year, the Company believes that the chance of a series of adverse developments occurring in the same quarter or year is remote. Future information and developments will require the Company to continually reassess the expected impact of these environmental matters.

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EARNINGS PER SHARE	6 Months Ended
	Apr. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The Company has two classes of common stock and, as such, applies the “two-class method” of computing earnings per share (“EPS”) as prescribed in ASC 260, “Earnings Per Share.” In accordance with this guidance, earnings are allocated in the same fashion as dividends would be distributed. Under the Company’s certificate of incorporation, any distribution of dividends in any year must be made in proportion of one cent a share for Class A Common Stock to one and one-half cents a share for Class B Common Stock, which results in a 40% to 60% split to Class A and B shareholders, respectively. In accordance with this, earnings are allocated first to Class A and Class B Common Stock to the extent that dividends are actually paid and the remainder is allocated assuming all of the earnings for the period have been distributed in the form of dividends. The Company calculates EPS as follows: Basic Class A EPS = 40% * Average Class A Shares Outstanding * Undistributed Net Income + Class A Dividends Per Share 40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding Average Class A Shares Outstanding Diluted Class A EPS = 40% * Average Class A Shares Outstanding * Undistributed Net Income + Class A Dividends Per Share 40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding Average Diluted Class A Shares Outstanding Basic Class B EPS = 60% * Average Class B Shares Outstanding * Undistributed Net Income + Class B Dividends Per Share 40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding Average Class B Shares Outstanding          *Diluted Class B EPS calculation is identical to Basic Class B calculation The following table provides EPS information for each period, respectively:   Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Numerator for basic and diluted EPS Net income attributable to Greif, Inc. $ 44.4  $ 111.2  $ 111.6  $ 201.1  Cash dividends (30.0) (29.0) (59.7) (57.9) Undistributed earnings attributable to Greif, Inc. $ 14.4  $ 82.2  $ 51.9  $ 143.2  The Class A Common Stock has no voting rights unless four quarterly cumulative dividends upon the Class A Common Stock are in arrears. The Class B Common Stock has full voting rights. There is no cumulative voting for the election of directors. The following table summarizes the shares of the Company’s Class A and Class B Common Stock as of the specified dates: Authorized Shares Issued Shares Outstanding Shares Treasury Shares April 30, 2024 Class A Common Stock 128,000,000  42,281,920  25,808,005  16,473,915  Class B Common Stock 69,120,000  34,560,000  21,331,127  13,228,873  October 31, 2023 Class A Common Stock 128,000,000  42,281,920  25,474,254  16,807,666  Class B Common Stock 69,120,000  34,560,000  21,331,127  13,228,873  The following is a reconciliation of the shares used to calculate basic and diluted earnings per share:   Three Months Ended April 30, Six Months Ended April 30,   2024 2023 2024 2023 Class A Common Stock: Basic shares 25,802,839  25,771,973  25,667,030  25,712,178  Assumed conversion of restricted shares 115,548  413,922  105,582  274,499  Diluted shares 25,918,387  26,185,895  25,772,612  25,986,677  Class B Common Stock: Basic and diluted shares 21,331,127  21,495,741  21,331,127  21,608,671

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COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Apr. 30, 2024
Equity [Abstract]
COMPREHENSIVE INCOME (LOSS)	COMPREHENSIVE INCOME (LOSS) The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2024: (in millions) Foreign Currency Translation Derivative Financial Instruments Minimum Pension Liability Adjustment Accumulated Other Comprehensive Income (Loss) Balance as of October 31, 2023 $ (317.7) $ 71.7  $ (70.5) $ (316.5) Other comprehensive loss (0.7) (8.5) (2.4) (11.6) Balance as of April 30, 2024 $ (318.4) $ 63.2  $ (72.9) $ (328.1) The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2023: (in millions) Foreign Currency Translation Derivative Financial Instruments Minimum Pension Liability Adjustment Accumulated Other Comprehensive Income (Loss) Balance as of October 31, 2022 $ (316.5) $ 72.8  $ (58.6) $ (302.3) Other comprehensive income (loss) 48.8  (30.8) (3.8) 14.2  Balance as of April 30, 2023 $ (267.7) $ 42.0  $ (62.4) $ (288.1) The components of accumulated other comprehensive income (loss) above are presented net of tax, as applicable.

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BUSINESS SEGMENT INFORMATION	6 Months Ended
	Apr. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The Company has six operating segments, which are aggregated into three reportable business segments: Global Industrial Packaging; Paper Packaging & Services; and Land Management. The Company’s reportable business segments offer different products and services. The accounting policies of the reportable business segments are substantially the same as those described in the “Basis of Presentation and Summary of Significant Accounting Policies” note in the 2023 Form 10-K. On March 26, 2024, the Company completed the Ipackchem Acquisition. Ipackchem is a global market leader in the production of high performance plastic packaging, including premium barrier and non-barrier jerrycans and other small plastic containers, which complement the Company’s Global Industrial Packaging specialty portfolio. The results of Ipackchem are recorded within the Global Industrial Packaging segment while the Company evaluates the impact of the Ipackchem Acquisition on its reportable business segments. The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2024: Three Months Ended April 30, 2024 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 301.6  $ 355.5  $ 147.7  $ 804.8  Paper Packaging & Services 550.5  —  10.3  560.8  Land Management 5.4  —  —  5.4  Total net sales $ 857.5  $ 355.5  $ 158.0  $ 1,371.0  Six Months Ended April 30, 2024 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 555.4  $ 650.1  $ 285.9  $ 1,491.4  Paper Packaging & Services 1,056.0  —  19.4  1,075.4  Land Management 10.0  —  —  10.0  Total net sales $ 1,621.4  $ 650.1  $ 305.3  $ 2,576.8  The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2023: Three Months Ended April 30, 2023 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 282.1  $ 338.2  $ 127.9  $ 748.2  Paper Packaging & Services 544.6  —  10.2  554.8  Land Management 5.9  —  —  5.9  Total net sales $ 832.6  $ 338.2  $ 138.1  $ 1,308.9  Six Months Ended April 30, 2023 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 541.4  $ 653.0  $ 259.6  $ 1,454.0  Paper Packaging & Services 1,095.1  —  19.9  1,115.0  Land Management 10.9  —  —  10.9  Total net sales $ 1,647.4  $ 653.0  $ 279.5  $ 2,579.9  The following segment information is presented for the periods indicated:   Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Operating profit: Global Industrial Packaging $ 83.4  $ 111.3  $ 134.3  $ 157.2  Paper Packaging & Services 12.6  67.6  29.4  176.7  Land Management 2.1  2.2  3.3  3.6  Total operating profit $ 98.1  $ 181.1  $ 167.0  $ 337.5  Depreciation, depletion and amortization expense: Global Industrial Packaging $ 31.1  $ 23.2  $ 56.5  $ 44.6  Paper Packaging & Services 34.1  32.8  68.6  65.9  Land Management 0.7  0.6  1.2  1.2  Total depreciation, depletion and amortization expense $ 65.9  $ 56.6  $ 126.3  $ 111.7  The following table presents total assets by segment and total properties, plants and equipment, net by geographic area: (in millions) April 30, 2024 October 31, 2023 Assets: Global Industrial Packaging $ 3,554.7  $ 2,737.5  Paper Packaging & Services 2,565.0  2,541.1  Land Management 255.1  253.2  Total segments 6,374.8  5,531.8  Corporate and other 454.0  429.0  Total assets $ 6,828.8  $ 5,960.8  Property, plant and equipment, net and lease right-of-use assets: United States $ 1,486.9  $ 1,468.6  Europe, Middle East and Africa 394.2  311.9  Asia Pacific and other Americas 148.3  102.9  Total long-lived assets, net $ 2,029.4  $ 1,883.4

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements have been prepared in accordance with the U.S. Securities and Exchange Commission (“SEC”) instructions to Quarterly Reports on Form 10-Q and include all of the information and disclosures required by accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting. The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the interim condensed consolidated financial statements and accompanying notes. Actual amounts could differ from those estimates. The fiscal year of Greif, Inc. and its subsidiaries (the “Company”) begins on November 1 and ends on October 31 of the following year. Any references to years or to any quarter of those years, relates to the fiscal year or quarter, as the case may be, ended in that year, unless otherwise stated. The information filed herein reflects all adjustments that are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated balance sheet as of April 30, 2024 and the condensed consolidated balance sheet as of October 31, 2023, the interim condensed consolidated statements of income, comprehensive income and changes in shareholders’ equity for the three and six months ended April 30, 2024 and 2023 and the interim condensed consolidated statements of cash flows for the six months ended April 30, 2024 and 2023 of the Company. The interim condensed consolidated financial statements include the accounts of Greif, Inc., all wholly-owned and consolidated subsidiaries and investments in limited liability companies, partnerships and joint ventures in which it has controlling influence or is the primary beneficiary. Non-majority owned entities include investments in limited liability companies, partnerships and joint ventures in which the Company does not have controlling interest and are accounted for using either the equity or cost method, as appropriate. The unaudited interim condensed consolidated financial statements included in this Quarterly Report on Form 10-Q (this “Form 10-Q”) should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for its fiscal year ended October 31, 2023 (the “2023 Form 10-K”).
Newly Adopted Accounting Standards and Recently Issued Accounting Standards	Newly Adopted Accounting Standards There have been no new accounting standards adopted since the filing of the 2023 Form 10-K that have significance, or potential significance, to the interim condensed consolidated financial statements. Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, "Income Taxes (Topic 740): Improvements to Tax Disclosures,” which is intended to improve the effectiveness of income tax disclosures. This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU is for the fiscal year beginning October 1, 2025. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The effective date for the Company to adopt this ASU is for the fiscal year and interim periods beginning November 1, 2024 and October 1, 2025 respectively. The Company is in the process of determining the potential impact of adopting this guidance on its financial position, results of operations, comprehensive income, cash flow and disclosures.

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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 receivable 50.9  Inventories 36.7  Other current assets 4.9  Intangibles 231.7  Operating lease right-of-use assets 15.1  Finance lease right-of-use assets 8.2  Other long-term assets 1.0  Properties, plants and equipment 91.5  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 Date Measurement Period Adjustments Amount Recognized as of Acquisition Date (as Adjusted) Fair value of consideration transferred Cash consideration $ 74.6  $ —  $ 74.6  Noncontrolling interest 72.1  —  72.1  Recognized amounts of identifiable assets acquired and liabilities assumed Accounts receivable $ 6.7  $ —  $ 6.7  Inventories 3.3  —  3.3  Intangibles 59.0  —  59.0  Operating lease right-of use assets 8.6  —  8.6  Properties, plants and equipment 19.4  —  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 Date Measurement Period Adjustments Amount Recognized as of Acquisition Date (as Adjusted) Fair value of consideration transferred Cash consideration $ 144.5  $ —  $ 144.5  Noncontrolling interest 40.9  —  40.9  Previously held interest 16.8  —  16.8  Recognized amounts of identifiable assets acquired and liabilities assumed Accounts receivable $ 12.4  $ —  $ 12.4  Inventories 2.0  —  2.0  Prepaid and other current assets 0.4  —  0.4  Intangibles 83.4  9.4  92.8  Operating lease right-of use assets 10.2  —  10.2  Properties, plants and equipment 7.7  —  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 Date Measurement Period Adjustments Amount 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  Inventories 27.5  (5.2) 22.3  Prepaid and other current assets 0.5  —  0.5  Intangibles 133.5  —  133.5  Finance lease right-of use assets 32.4  1.0  33.4  Properties, plants and equipment 54.7  —  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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 182.4  15.0 Developed technology 39.0  8.0 Trademarks 10.3  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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 50.6  15.0 Trademarks 8.4  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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 77.5  12.0 Favorable leases 1.6  19.0 Trademarks 13.7  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 Allocation Weighted Average Estimated Useful Life Customer relationships $ 120.0  15.0 Trademarks 13.5  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) 2024 2023 2024 2023 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) 2023 2023 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

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RESTRUCTURING CHARGES (Tables)	6 Months Ended
	Apr. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Reconciliation of Beginning and Ended Restructuring Reserve Balances	The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended April 30, 2024: (in millions) Employee Separation Costs Other Costs Total Balance at October 31, 2023 $ 16.4  $ 0.4  $ 16.8  Costs incurred and charged to expense (5.7) 4.6  (1.1) Costs paid or otherwise settled (4.9) (4.6) (9.5) Balance at April 30, 2024 $ 5.8  $ 0.4  $ 6.2
Schedule of Reconciliation of Total Amounts Expected to be Incurred from Open Restructuring Plans Anticipated to be Realized	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 $13.7 million as of April 30, 2024: (in millions) Total Amounts Expected to be Incurred Amounts Incurred During the Six Months Ended April 30, 2024 Amounts Remaining to be Incurred Global Industrial Packaging Employee separation costs $ (4.2) $ (8.0) $ 3.8  Other restructuring costs 2.0  0.3  1.7  (2.2) (7.7) 5.5  Paper Packaging & Services Employee separation costs 2.5  2.3  0.2  Other restructuring costs 12.3  4.3  8.0  14.8  6.6  8.2  $ 12.6  $ (1.1) $ 13.7

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LONG-TERM DEBT (Tables)	6 Months Ended
	Apr. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt is summarized as follows: (in millions) April 30, 2024 October 31, 2023 2022 Credit Agreement - Term Loans $ 1,751.6  $ 1,493.8  2023 Credit Agreement - Term Loan 292.5  296.3  Accounts receivable credit facilities 346.8  351.0  2022 Credit Agreement - Revolving Credit Facility 492.2  77.3  Other debt 4.0  —  2,887.1  2,218.4  Less: current portion 95.8  88.3  Less: deferred financing costs 8.4  8.7  Long-term debt, net $ 2,782.9  $ 2,121.4

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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Apr. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Recurring Fair Value Measurements	The following table presents the fair value for those assets and (liabilities) measured on a recurring basis as of April 30, 2024 and October 31, 2023: April 30, 2024 Assets Liabilities (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest rate derivatives $ —  $ 73.9  $ —  $ 73.9  $ —  $ (0.4) $ —  $ (0.4) Foreign exchange hedges —  0.2  —  0.2  —  (0.6) —  (0.6) Insurance annuity —  —  19.0  19.0  —  —  —  —  Cross currency swap —  18.6  —  18.6  —  (5.4) —  (5.4) October 31, 2023 Assets Liabilities (in millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest rate derivatives $ —  $ 78.4  $ —  $ 78.4  $ —  $ —  $ —  $ —  Foreign exchange hedges —  0.1  —  0.1  —  (0.1) —  (0.1) Insurance annuity —  —  18.8  18.8  —  —  —  —  Cross currency swap —  18.9  —  18.9  —  —  —  —

v3.24.1.1.u2

POST RETIREMENT BENEFIT PLANS (Tables)	6 Months Ended
	Apr. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components Of Net Periodic Pension Cost	The components of net periodic pension cost include the following:   Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Service cost $ 1.7  $ 2.0  $ 3.4  $ 4.0  Interest cost 8.7  8.7  17.3  17.4  Expected return on plan assets (10.7) (9.7) (21.5) (19.4) Amortization of prior service benefit (0.1) (0.1) (0.2) (0.2) Recognized net actuarial gain (0.3) (0.6) (0.5) (1.1) Net periodic pension (benefit) cost $ (0.7) $ 0.3  $ (1.5) $ 0.7

v3.24.1.1.u2

EARNINGS PER SHARE (Tables)	6 Months Ended
	Apr. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Class Based Basic and Diluted Earnings Per Share	The Company calculates EPS as follows: Basic Class A EPS = 40% * Average Class A Shares Outstanding * Undistributed Net Income + Class A Dividends Per Share 40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding Average Class A Shares Outstanding Diluted Class A EPS = 40% * Average Class A Shares Outstanding * Undistributed Net Income + Class A Dividends Per Share 40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding Average Diluted Class A Shares Outstanding Basic Class B EPS = 60% * Average Class B Shares Outstanding * Undistributed Net Income + Class B Dividends Per Share 40% * Average Class A Shares Outstanding + 60% * Average Class B Shares Outstanding Average Class B Shares Outstanding          *Diluted Class B EPS calculation is identical to Basic Class B calculation
Schedule of Computation of Earnings Per Share Basic and Diluted	The following table provides EPS information for each period, respectively:   Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Numerator for basic and diluted EPS Net income attributable to Greif, Inc. $ 44.4  $ 111.2  $ 111.6  $ 201.1  Cash dividends (30.0) (29.0) (59.7) (57.9) Undistributed earnings attributable to Greif, Inc. $ 14.4  $ 82.2  $ 51.9  $ 143.2
Schedule of Company's Class A and Class B Common and Treasury Shares	The following table summarizes the shares of the Company’s Class A and Class B Common Stock as of the specified dates: Authorized Shares Issued Shares Outstanding Shares Treasury Shares April 30, 2024 Class A Common Stock 128,000,000  42,281,920  25,808,005  16,473,915  Class B Common Stock 69,120,000  34,560,000  21,331,127  13,228,873  October 31, 2023 Class A Common Stock 128,000,000  42,281,920  25,474,254  16,807,666  Class B Common Stock 69,120,000  34,560,000  21,331,127  13,228,873
Schedule of Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share	The following is a reconciliation of the shares used to calculate basic and diluted earnings per share:   Three Months Ended April 30, Six Months Ended April 30,   2024 2023 2024 2023 Class A Common Stock: Basic shares 25,802,839  25,771,973  25,667,030  25,712,178  Assumed conversion of restricted shares 115,548  413,922  105,582  274,499  Diluted shares 25,918,387  26,185,895  25,772,612  25,986,677  Class B Common Stock: Basic and diluted shares 21,331,127  21,495,741  21,331,127  21,608,671

v3.24.1.1.u2

COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Apr. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2024: (in millions) Foreign Currency Translation Derivative Financial Instruments Minimum Pension Liability Adjustment Accumulated Other Comprehensive Income (Loss) Balance as of October 31, 2023 $ (317.7) $ 71.7  $ (70.5) $ (316.5) Other comprehensive loss (0.7) (8.5) (2.4) (11.6) Balance as of April 30, 2024 $ (318.4) $ 63.2  $ (72.9) $ (328.1) The following table provides the rollforward of accumulated other comprehensive income (loss) for the six months ended April 30, 2023: (in millions) Foreign Currency Translation Derivative Financial Instruments Minimum Pension Liability Adjustment Accumulated Other Comprehensive Income (Loss) Balance as of October 31, 2022 $ (316.5) $ 72.8  $ (58.6) $ (302.3) Other comprehensive income (loss) 48.8  (30.8) (3.8) 14.2  Balance as of April 30, 2023 $ (267.7) $ 42.0  $ (62.4) $ (288.1)

v3.24.1.1.u2

BUSINESS SEGMENT INFORMATION (Tables)	6 Months Ended
	Apr. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenue from External Customers by Geographic Areas	The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2024: Three Months Ended April 30, 2024 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 301.6  $ 355.5  $ 147.7  $ 804.8  Paper Packaging & Services 550.5  —  10.3  560.8  Land Management 5.4  —  —  5.4  Total net sales $ 857.5  $ 355.5  $ 158.0  $ 1,371.0  Six Months Ended April 30, 2024 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 555.4  $ 650.1  $ 285.9  $ 1,491.4  Paper Packaging & Services 1,056.0  —  19.4  1,075.4  Land Management 10.0  —  —  10.0  Total net sales $ 1,621.4  $ 650.1  $ 305.3  $ 2,576.8  The following tables present net sales disaggregated by geographic area for each reportable segment for the three and six months ended April 30, 2023: Three Months Ended April 30, 2023 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 282.1  $ 338.2  $ 127.9  $ 748.2  Paper Packaging & Services 544.6  —  10.2  554.8  Land Management 5.9  —  —  5.9  Total net sales $ 832.6  $ 338.2  $ 138.1  $ 1,308.9  Six Months Ended April 30, 2023 (in millions) United States Europe, Middle East and Africa Asia Pacific and Other Americas Total Global Industrial Packaging $ 541.4  $ 653.0  $ 259.6  $ 1,454.0  Paper Packaging & Services 1,095.1  —  19.9  1,115.0  Land Management 10.9  —  —  10.9  Total net sales $ 1,647.4  $ 653.0  $ 279.5  $ 2,579.9
Schedule of Segment Information	The following segment information is presented for the periods indicated:   Three Months Ended April 30, Six Months Ended April 30, (in millions) 2024 2023 2024 2023 Operating profit: Global Industrial Packaging $ 83.4  $ 111.3  $ 134.3  $ 157.2  Paper Packaging & Services 12.6  67.6  29.4  176.7  Land Management 2.1  2.2  3.3  3.6  Total operating profit $ 98.1  $ 181.1  $ 167.0  $ 337.5  Depreciation, depletion and amortization expense: Global Industrial Packaging $ 31.1  $ 23.2  $ 56.5  $ 44.6  Paper Packaging & Services 34.1  32.8  68.6  65.9  Land Management 0.7  0.6  1.2  1.2  Total depreciation, depletion and amortization expense $ 65.9  $ 56.6  $ 126.3  $ 111.7
Schedule of Properties, Plants and Equipment, Net by Geographical Area	The following table presents total assets by segment and total properties, plants and equipment, net by geographic area: (in millions) April 30, 2024 October 31, 2023 Assets: Global Industrial Packaging $ 3,554.7  $ 2,737.5  Paper Packaging & Services 2,565.0  2,541.1  Land Management 255.1  253.2  Total segments 6,374.8  5,531.8  Corporate and other 454.0  429.0  Total assets $ 6,828.8  $ 5,960.8  Property, plant and equipment, net and lease right-of-use assets: United States $ 1,486.9  $ 1,468.6  Europe, Middle East and Africa 394.2  311.9  Asia Pacific and other Americas 148.3  102.9  Total long-lived assets, net $ 2,029.4  $ 1,883.4

v3.24.1.1.u2

ACQUISITIONS AND DIVESTITURES - Additional Information (Details) - USD ($) $ in Millions					3 Months Ended			6 Months Ended
	Mar. 26, 2024	Aug. 23, 2023	Mar. 31, 2023	Dec. 15, 2022	Apr. 30, 2024	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023	Mar. 30, 2023
Business Acquisition [Line Items]
Goodwill					$ 1,968.3			$ 1,968.3		$ 1,693.0
Proceeds from the sale of businesses								0.0	$ 105.6
Gain on disposal of business					$ 0.0	$ 9.8		0.0	$ 64.4
Tama Divestiture
Business Acquisition [Line Items]
Gain on disposal of business							$ 54.6
Discontinued Operations, Disposed of by Sale | Tama Divestiture
Business Acquisition [Line Items]
Proceeds from the sale of businesses							100.2
Disposal group, including discontinued operation, goodwill							$ 22.5
Ipackchem Acquisition
Business Acquisition [Line Items]
Cash consideration	$ 582.1
Cash and cash equivalents	14.5
Acquisition related costs	8.9
Goodwill	$ 275.8
Business combination, pro forma information, revenue of acquiree since acquisition date, actual								$ 22.6
Ipackchem Acquisition | Minimum | Building and Building Improvements
Business Acquisition [Line Items]
Useful life	1 year
Ipackchem Acquisition | Minimum | Equipment
Business Acquisition [Line Items]
Useful life	1 year
Ipackchem Acquisition | Maximum | Building and Building Improvements
Business Acquisition [Line Items]
Useful life	21 years
Ipackchem Acquisition | Maximum | Equipment
Business Acquisition [Line Items]
Useful life	10 years
ColePak Acquisition
Business Acquisition [Line Items]
Cash consideration		$ 74.6
Goodwill		$ 60.1
Ownership percent acquired		51.00%
Fair value of remaining non-controlling interest		49.00%
Noncontrolling interest		$ 72.1
Centurion Container LLC
Business Acquisition [Line Items]
Cash consideration			$ 144.5
Goodwill			$ 95.4
Ownership percent acquired			80.00%								10.00%
Fair value of remaining non-controlling interest			20.00%
Noncontrolling interest			$ 40.9
Previously held interest			16.8
Business combination, step acquisition, equity interest in acquiree, remeasurement gain (loss)			9.8
Lee Container Acquisition
Business Acquisition [Line Items]
Cash consideration				$ 303.0
Goodwill				$ 75.9
Lee Container Acquisition | Minimum | Building and Building Improvements
Business Acquisition [Line Items]
Useful life				1 year
Lee Container Acquisition | Minimum | Equipment
Business Acquisition [Line Items]
Useful life				1 year
Lee Container Acquisition | Maximum | Building and Building Improvements
Business Acquisition [Line Items]
Useful life				9 years
Lee Container Acquisition | Maximum | Equipment
Business Acquisition [Line Items]
Useful life				19 years
Previously Reported | ColePak Acquisition
Business Acquisition [Line Items]
Cash consideration		74.6
Goodwill		60.1
Noncontrolling interest		$ 72.1
Previously Reported | Centurion Container LLC
Business Acquisition [Line Items]
Cash consideration			144.5
Goodwill			104.8
Noncontrolling interest			40.9
Previously held interest			$ 16.8
Previously Reported | Lee Container Acquisition
Business Acquisition [Line Items]
Cash consideration				$ 302.8
Goodwill				$ 71.2

v3.24.1.1.u2

ACQUISITIONS AND DIVESTITURES - Schedule of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 26, 2024	Aug. 23, 2023	Mar. 31, 2023	Dec. 15, 2022	Apr. 30, 2024	Oct. 31, 2023
Recognized amounts of identifiable assets acquired and liabilities assumed
Goodwill					$ 1,968.3	$ 1,693.0
Ipackchem Acquisition
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 receivable	50.9
Inventories	36.7
Prepaid and other current assets	4.9
Intangibles	231.7
Operating lease right-of use assets	15.1
Finance lease right-of use assets	8.2
Other long-term assets	1.0
Properties, plants and equipment	91.5
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)
Other long-term liabilities	(5.3)
Long-term deferred tax liability	(62.1)
Total liabilities assumed	(148.2)
Total identifiable net assets	306.3
Goodwill	$ 275.8
ColePak Acquisition
Fair value of consideration transferred
Cash consideration		$ 74.6
Noncontrolling interest		72.1
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable		6.7
Inventories		3.3
Intangibles		59.0
Operating lease right-of use assets		8.6
Properties, plants and equipment		19.4
Total assets acquired		97.0
Other current liabilities		(1.8)
Operating lease liabilities		(8.6)
Total liabilities assumed		(10.4)
Total identifiable net assets		86.6
Goodwill		60.1
ColePak Acquisition | Previously Reported
Fair value of consideration transferred
Cash consideration		74.6
Noncontrolling interest		72.1
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable		6.7
Inventories		3.3
Intangibles		59.0
Operating lease right-of use assets		8.6
Properties, plants and equipment		19.4
Total assets acquired		97.0
Other current liabilities		(1.8)
Operating lease liabilities		(8.6)
Total liabilities assumed		(10.4)
Total identifiable net assets		86.6
Goodwill		$ 60.1
Centurion Container LLC
Fair value of consideration transferred
Cash consideration			$ 144.5
Noncontrolling interest			40.9
Previously held interest			16.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			12.4
Inventories			2.0
Prepaid and other current assets			0.4
Intangibles			92.8
Operating lease right-of use assets			10.2
Properties, plants and equipment			7.7
Total assets acquired			125.5
Accounts payable			(4.2)
Other current liabilities			(4.3)
Operating lease liabilities			(10.2)
Total liabilities assumed			(18.7)
Total identifiable net assets			106.8
Goodwill			95.4
Measurement Period Adjustments
Intangibles			9.4
Total assets acquired			9.4
Total identifiable net assets			9.4
Goodwill			(9.4)
Centurion Container LLC | Previously Reported
Fair value of consideration transferred
Cash consideration			144.5
Noncontrolling interest			40.9
Previously held interest			16.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable			12.4
Inventories			2.0
Prepaid and other current assets			0.4
Intangibles			83.4
Operating lease right-of use assets			10.2
Properties, plants and equipment			7.7
Total assets acquired			116.1
Accounts payable			(4.2)
Other current liabilities			(4.3)
Operating lease liabilities			(10.2)
Total liabilities assumed			(18.7)
Total identifiable net assets			97.4
Goodwill			$ 104.8
Lee Container Acquisition
Fair value of consideration transferred
Cash consideration				$ 303.0
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable				21.5
Inventories				22.3
Prepaid and other current assets				0.5
Intangibles				133.5
Finance lease right-of use assets				33.4
Properties, plants and equipment				54.7
Total assets acquired				265.9
Accounts payable				(3.9)
Accrued payroll and employee benefits				(1.3)
Other current liabilities				(0.2)
Finance lease liabilities				(33.4)
Total liabilities assumed				(38.8)
Total identifiable net assets				227.1
Goodwill				75.9
Measurement Period Adjustments
Cash consideration				0.2
Accounts receivable				(0.4)
Inventories				(5.2)
Finance lease right-of use assets				1.0
Total assets acquired				(4.6)
Other current liabilities				2.9
Finance lease liabilities				(2.8)
Total liabilities assumed				0.1
Total identifiable net assets				(4.5)
Goodwill				4.7
Lee Container Acquisition | Previously Reported
Fair value of consideration transferred
Cash consideration				302.8
Recognized amounts of identifiable assets acquired and liabilities assumed
Accounts receivable				21.9
Inventories				27.5
Prepaid and other current assets				0.5
Intangibles				133.5
Finance lease right-of use assets				32.4
Properties, plants and equipment				54.7
Total assets acquired				270.5
Accounts payable				(3.9)
Accrued payroll and employee benefits				(1.3)
Other current liabilities				(3.1)
Finance lease liabilities				(30.6)
Total liabilities assumed				(38.9)
Total identifiable net assets				231.6
Goodwill				$ 71.2

v3.24.1.1.u2

ACQUISITIONS AND DIVESTITURES - Schedule of Intangible Assets Assumed (Details) - USD ($) $ in Millions	Mar. 26, 2024	Aug. 23, 2023	Mar. 31, 2023	Dec. 15, 2022
Ipackchem Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation	$ 231.7
ColePak Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation		$ 59.0
Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation			$ 92.8
Lee Container Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation				$ 133.5
Customer relationships | Ipackchem Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation	$ 182.4
Weighted Average Estimated Useful Life	15 years
Customer relationships | ColePak Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation		$ 50.6
Weighted Average Estimated Useful Life		15 years
Customer relationships | Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation			$ 77.5
Weighted Average Estimated Useful Life			12 years
Customer relationships | Lee Container Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation				$ 120.0
Weighted Average Estimated Useful Life				15 years
Developed technology | Ipackchem Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation	$ 39.0
Weighted Average Estimated Useful Life	8 years
Favorable leases | Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation			$ 1.6
Weighted Average Estimated Useful Life			19 years
Trademarks | Ipackchem Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation	$ 10.3
Weighted Average Estimated Useful Life	5 years
Trademarks | ColePak Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation		$ 8.4
Weighted Average Estimated Useful Life		5 years
Trademarks | Centurion Container LLC
Business Acquisition [Line Items]
Purchase Price Allocation			$ 13.7
Weighted Average Estimated Useful Life			5 years
Trademarks | Lee Container Acquisition
Business Acquisition [Line Items]
Purchase Price Allocation				$ 13.5
Weighted Average Estimated Useful Life				5 years

v3.24.1.1.u2

ACQUISITIONS AND DIVESTITURES - Pro forma (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Lee Container Acquisition
Business Acquisition [Line Items]
Pro forma net sales		$ 1,326.2		$ 2,637.8
Pro forma net income attributable to Greif, Inc.		113.1		216.3
Ipackchem Acquisition
Business Acquisition [Line Items]
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
Class A Common Stock | Lee Container Acquisition
Business Acquisition [Line Items]
Basic earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)		$ 1.95		$ 3.73
Diluted earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)		1.93		3.70
Class A Common Stock | Ipackchem Acquisition
Business Acquisition [Line Items]
Basic earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	$ 0.94	3.28	$ 2.26	3.28
Diluted earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	0.94	3.25	2.26	3.25
Class B Common Stock | Lee Container Acquisition
Business Acquisition [Line Items]
Basic earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)		2.92		5.58
Diluted earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)		2.92		5.58
Class B Common Stock | Ipackchem Acquisition
Business Acquisition [Line Items]
Basic earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	1.42	4.90	3.38	4.90
Diluted earnings per share attributable to Greif, Inc. common shareholders: (in dollars per share)	$ 1.42	$ 4.90	$ 3.38	$ 4.90

v3.24.1.1.u2

RESTRUCTURING CHARGES - Reconciliation of Beginning and Ending Restructuring Reserve Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 16.8
Costs incurred and charged to expense	$ (6.8)	$ 2.4	(1.1)	$ 4.8
Costs paid or otherwise settled			(9.5)
Restructuring reserve, ending balance	6.2		6.2
Employee Separation Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			16.4
Costs incurred and charged to expense	0.4		3.3
Costs paid or otherwise settled			(4.9)
Restructuring reserve, ending balance	5.8		5.8
Restructuring costs			(5.7)
Other Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			0.4
Costs incurred and charged to expense	1.8		4.6
Costs paid or otherwise settled			(4.6)
Restructuring reserve, ending balance	$ 0.4		$ 0.4

v3.24.1.1.u2

RESTRUCTURING CHARGES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Restructuring and Related Costs [Line Items]
Restructuring charges	$ (6.8)	$ 2.4	$ (1.1)	$ 4.8
Restructuring reserve release	(9.0)		(9.0)
Amounts remaining to be incurred	13.7		13.7
Employee Separation Costs
Restructuring and Related Costs [Line Items]
Restructuring charges	0.4		3.3
Other restructuring costs
Restructuring and Related Costs [Line Items]
Restructuring charges	$ 1.8		$ 4.6

v3.24.1.1.u2

RESTRUCTURING CHARGES - Amounts Expected to be Incurred, Amounts Incurred, and Amounts Remaining to Be Incurred (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	$ 12.6		$ 12.6
Amounts Incurred During the Six Months Ended April 30, 2024	(6.8)	$ 2.4	(1.1)	$ 4.8
Amounts Remaining to be Incurred	13.7		13.7
Employee separation costs
Restructuring and Related Costs [Line Items]
Amounts Incurred During the Six Months Ended April 30, 2024	0.4		3.3
Other restructuring costs
Restructuring and Related Costs [Line Items]
Amounts Incurred During the Six Months Ended April 30, 2024	1.8		4.6
Global Industrial Packaging
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	(2.2)		(2.2)
Amounts Incurred During the Six Months Ended April 30, 2024			(7.7)
Amounts Remaining to be Incurred	5.5		5.5
Global Industrial Packaging | Employee separation costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	(4.2)		(4.2)
Amounts Incurred During the Six Months Ended April 30, 2024			(8.0)
Amounts Remaining to be Incurred	3.8		3.8
Global Industrial Packaging | Other restructuring costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	2.0		2.0
Amounts Incurred During the Six Months Ended April 30, 2024			0.3
Amounts Remaining to be Incurred	1.7		1.7
Paper Packaging & Services
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	14.8		14.8
Amounts Incurred During the Six Months Ended April 30, 2024			6.6
Amounts Remaining to be Incurred	8.2		8.2
Paper Packaging & Services | Employee separation costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	2.5		2.5
Amounts Incurred During the Six Months Ended April 30, 2024			2.3
Amounts Remaining to be Incurred	0.2		0.2
Paper Packaging & Services | Other restructuring costs
Restructuring and Related Costs [Line Items]
Total Amounts Expected to be Incurred	12.3		12.3
Amounts Incurred During the Six Months Ended April 30, 2024			4.3
Amounts Remaining to be Incurred	$ 8.0		$ 8.0

v3.24.1.1.u2

LONG-TERM DEBT - Summary of Long-Term Debt (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Debt Instrument [Line Items]
Long-term debt	$ 2,887.1	$ 2,218.4
Less: current portion	95.8	88.3
Less: deferred financing costs	8.4	8.7
Long-term debt, net	2,782.9	2,121.4
Other debt
Debt Instrument [Line Items]
Long-term debt	4.0	0.0
Term Loan | 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	1,751.6	1,493.8
Term Loan | 2023 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	292.5	296.3
Accounts receivable credit facilities
Debt Instrument [Line Items]
Long-term debt	346.8	351.0
Revolving Credit Facility | 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt	$ 492.2	$ 77.3

v3.24.1.1.u2

LONG-TERM DEBT - Credit Agreement (Details) - USD ($)	Mar. 25, 2024	May 17, 2024	Apr. 30, 2024	Oct. 31, 2023	May 17, 2023	Mar. 01, 2022
Debt Instrument [Line Items]
Long-term debt			$ 2,887,100,000	$ 2,218,400,000
Current portion of long-term debt			95,800,000	88,300,000
Long-term debt, net			2,782,900,000	2,121,400,000
Credit Agreement
Debt Instrument [Line Items]
Long-term debt			2,536,300,000
United States Trade Accounts receivable credit facilities | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 300,000,000
Term Loan | Secured Term Loan A-1 Facility
Debt Instrument [Line Items]
Debt issued						$ 1,100,000,000
Term Loan | Secured Term Loan A-2 Facility
Debt Instrument [Line Items]
Debt issued						515,000,000
Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Current portion of long-term debt			95,800,000
Long-term debt, net			$ 2,440,500,000
Weighted average interest rate			6.36%
Actual interest rate			6.81%
Revolving Credit Facility | 2022 Credit Agreement
Debt Instrument [Line Items]
Long-term debt			$ 492,200,000	$ 77,300,000
Debt issuance costs			3,000,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 300,000,000	800,000,000
Multicurrency Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity						725,000,000
U.S. Dollar Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 75,000,000
Term Loan
Debt Instrument [Line Items]
Amortization rate	2.50%
Debt issuance costs			$ 8,400,000
Term Loan | Term Loan | Secured Term Loan A-4 Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000

v3.24.1.1.u2

LONG-TERM DEBT - Trade Accounts Receivable Credit Facility (Details) $ in Millions	Apr. 30, 2024 USD ($)	Apr. 30, 2024 EUR (€)	Oct. 31, 2023 USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 2,887.1		$ 2,218.4
Accounts receivable credit facilities
Debt Instrument [Line Items]
Long-term debt	346.8		351.0
United States Trade Accounts receivable credit facilities | Accounts receivable credit facilities
Debt Instrument [Line Items]
Long-term line of credit	259.3		270.9
International Trade Accounts Receivable Credit Facilities | European RPA
Debt Instrument [Line Items]
Financing receivable maximum amount under receivable purchase agreement	106.9	€ 100,000,000
International Trade Accounts Receivable Credit Facilities | Foreign Line of Credit | European RPA
Debt Instrument [Line Items]
Long-term debt	$ 87.5		$ 80.1

v3.24.1.1.u2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 73.9	$ 78.4
Liabilities	(0.4)	0.0
Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.2	0.1
Liabilities	(0.6)	(0.1)
Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	19.0	18.8
Liabilities	0.0	0.0
Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	18.6	18.9
Liabilities	(5.4)	0.0
Level 1 | Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 | Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 | Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 1 | Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 2 | Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	73.9	78.4
Liabilities	(0.4)	0.0
Level 2 | Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.2	0.1
Liabilities	(0.6)	(0.1)
Level 2 | Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 2 | Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	18.6	18.9
Liabilities	(5.4)	0.0
Level 3 | Interest rate derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 3 | Foreign exchange hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	0.0	0.0
Level 3 | Insurance annuity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	19.0	18.8
Liabilities	0.0	0.0
Level 3 | Cross currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0.0	0.0
Liabilities	$ 0.0	$ 0.0

v3.24.1.1.u2

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains recorded in interest expense	$ (30.2)	$ (23.4)	$ (54.4)	$ (46.2)
Interest rate derivatives | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 1,400.0		$ 1,400.0		$ 1,300.0
Derivative, forward interest rate	2.97%		2.97%
Gains reclassified to earnings	$ 8.9	6.6	$ 18.6	11.3
Gain to be reclassified within next twelve months			31.5
Foreign Currency Forward Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	101.0		101.0		66.0
Gain recorded under fair value contracts	2.9	0.6	2.9	0.7
Unrealized gain (losses) on foreign currency	(2.8)	1.3	(0.4)	(1.5)
Cross currency swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 447.6		$ 447.6		$ 319.3
Derivative, forward interest rate	1.27%		1.27%
Gains recorded in interest expense	$ 1.6	$ 1.2	$ 3.5	$ 2.6

v3.24.1.1.u2

STOCK-BASED COMPENSATION (Details) - $ / shares		6 Months Ended
	Dec. 12, 2023	Apr. 30, 2024
RSUs | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)		53,060
RSUs | 2020 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock (in shares)	120,843
Weighted average grant date fair value (in usd per share)	$ 62.83
PSUs | Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)		229,859
PSUs | 2020 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of restricted stock (in shares)	202,402
Weighted average grant date fair value (in usd per share)	$ 60.77

v3.24.1.1.u2

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 17.0	$ 39.1	$ (21.2)	$ 76.8
Increase in tax expense			98.0	$ 8.4
Miscellaneous other items			22.7
One-time discrete tax benefit			48.1
Nondeductible expense			$ 18.8

v3.24.1.1.u2

POST RETIREMENT BENEFIT PLANS - Components of Net Periodic Pension Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Retirement Benefits [Abstract]
Service cost	$ 1.7	$ 2.0	$ 3.4	$ 4.0
Interest cost	8.7	8.7	17.3	17.4
Expected return on plan assets	(10.7)	(9.7)	(21.5)	(19.4)
Amortization of prior service benefit	(0.1)	(0.1)	(0.2)	(0.2)
Recognized net actuarial gain	(0.3)	(0.6)	(0.5)	(1.1)
Net periodic pension (benefit) cost	$ (0.7)	$ 0.3	$ (1.5)	$ 0.7

v3.24.1.1.u2

POST RETIREMENT BENEFIT PLANS - Additional Information (Details) $ in Millions	Oct. 31, 2024 USD ($)
Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 8.0

v3.24.1.1.u2

CONTINGENT LIABILITIES AND ENVIRONMENTAL RESERVES (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Site Contingency [Line Items]
Environmental liability reserves	$ 18.3	$ 17.3
Diamond Alkali
Site Contingency [Line Items]
Environmental liability reserves		$ 9.8

v3.24.1.1.u2

EARNINGS PER SHARE - Additional Information (Details)	6 Months Ended
	Apr. 30, 2024 class_of_stock $ / shares
Class of Stock [Line Items]
Number of classes of stock | class_of_stock	2
Class A Common Stock
Class of Stock [Line Items]
Dividend proportions (in usd per share)	$ 0.01
Percentage of shares outstanding used in two class method calculation	40.00%
Class B Common Stock
Class of Stock [Line Items]
Dividend proportions (in usd per share)	$ 0.015
Percentage of shares outstanding used in two class method calculation	60.00%

v3.24.1.1.u2

EARNINGS PER SHARE - Computation of Earnings Per Share Basic and Diluted (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Numerator for basic and diluted EPS
Net income attributable to Greif, Inc.	$ 44.4	$ 111.2	$ 111.6	$ 201.1
Cash dividends	(30.0)	(29.0)	(59.7)	(57.9)
Undistributed earnings attributable to Greif, Inc.	$ 14.4	$ 82.2	$ 51.9	$ 143.2

v3.24.1.1.u2

EARNINGS PER SHARE - Summarization of Company's Class A and Class B Common and Treasury Shares (Details) - shares	Apr. 30, 2024	Oct. 31, 2023
Class A Common Stock
Class of Stock [Line Items]
Authorized Shares (in shares)	128,000,000	128,000,000
Issued Shares (in shares)	42,281,920	42,281,920
Outstanding Shares (in shares)	25,808,005	25,474,254
Treasury Shares (in shares)	16,473,915	16,807,666
Class B Common Stock
Class of Stock [Line Items]
Authorized Shares (in shares)	69,120,000	69,120,000
Issued Shares (in shares)	34,560,000	34,560,000
Outstanding Shares (in shares)	21,331,127	21,331,127
Treasury Shares (in shares)	13,228,873	13,228,873

v3.24.1.1.u2

EARNINGS PER SHARE - Reconciliation of Shares Used to Calculate Basic and Diluted Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Class A Common Stock
Class of Stock [Line Items]
Basic shares (in shares)	25,802,839	25,771,973	25,667,030	25,712,178
Assumed conversion of restricted shares (in shares)	115,548	413,922	105,582	274,499
Diluted shares (in shares)	25,918,387	26,185,895	25,772,612	25,986,677
Class B Common Stock
Class of Stock [Line Items]
Basic shares (in shares)	21,331,127	21,495,741	21,331,127	21,608,671
Diluted shares (in shares)	21,331,127	21,495,741	21,331,127	21,608,671

v3.24.1.1.u2

COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Accumulated Other Comprehensive Income (Loss)
Beginning balance	$ 1,986.3	$ 1,794.3
Ending balance	2,047.4	1,914.9
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(316.5)	(302.3)
Other comprehensive loss	(11.6)	14.2
Ending balance	(328.1)	(288.1)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(317.7)	(316.5)
Other comprehensive loss	(0.7)	48.8
Ending balance	(318.4)	(267.7)
Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss)
Beginning balance	71.7	72.8
Other comprehensive loss	(8.5)	(30.8)
Ending balance	63.2	42.0
Minimum Pension Liability Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning balance	(70.5)	(58.6)
Other comprehensive loss	(2.4)	(3.8)
Ending balance	$ (72.9)	$ (62.4)

v3.24.1.1.u2

BUSINESS SEGMENT INFORMATION - Additional Information (Details)	6 Months Ended
	Apr. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	6
Number of reportable segment	3

v3.24.1.1.u2

BUSINESS SEGMENT INFORMATION - Geographic Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 1,371.0	$ 1,308.9	$ 2,576.8	$ 2,579.9
Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	804.8	748.2	1,491.4	1,454.0
Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	560.8	554.8	1,075.4	1,115.0
Land Management
Segment Reporting Information [Line Items]
Total net sales	5.4	5.9	10.0	10.9
United States
Segment Reporting Information [Line Items]
Total net sales	857.5	832.6	1,621.4	1,647.4
United States | Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	301.6	282.1	555.4	541.4
United States | Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	550.5	544.6	1,056.0	1,095.1
United States | Land Management
Segment Reporting Information [Line Items]
Total net sales	5.4	5.9	10.0	10.9
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Total net sales	355.5	338.2	650.1	653.0
Europe, Middle East and Africa | Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	355.5	338.2	650.1	653.0
Europe, Middle East and Africa | Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	0.0	0.0	0.0	0.0
Europe, Middle East and Africa | Land Management
Segment Reporting Information [Line Items]
Total net sales	0.0	0.0	0.0	0.0
Asia Pacific and Other Americas
Segment Reporting Information [Line Items]
Total net sales	158.0	138.1	305.3	279.5
Asia Pacific and Other Americas | Global Industrial Packaging
Segment Reporting Information [Line Items]
Total net sales	147.7	127.9	285.9	259.6
Asia Pacific and Other Americas | Paper Packaging & Services
Segment Reporting Information [Line Items]
Total net sales	10.3	10.2	19.4	19.9
Asia Pacific and Other Americas | Land Management
Segment Reporting Information [Line Items]
Total net sales	$ 0.0	$ 0.0	$ 0.0	$ 0.0

v3.24.1.1.u2

BUSINESS SEGMENT INFORMATION - Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Operating profit:
Total operating profit	$ 98.1	$ 181.1	$ 167.0	$ 337.5
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	65.9	56.6	126.3	111.7
Global Industrial Packaging
Operating profit:
Total operating profit	83.4	111.3	134.3	157.2
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	31.1	23.2	56.5	44.6
Paper Packaging & Services
Operating profit:
Total operating profit	12.6	67.6	29.4	176.7
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	34.1	32.8	68.6	65.9
Land Management
Operating profit:
Total operating profit	2.1	2.2	3.3	3.6
Depreciation, depletion and amortization expense:
Total depreciation, depletion and amortization expense	$ 0.7	$ 0.6	$ 1.2	$ 1.2

v3.24.1.1.u2

BUSINESS SEGMENT INFORMATION - Properties, Plants and Equipment, Net by Geographical Area (Details) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Assets:
Total assets	$ 6,828.8	$ 5,960.8
Long lived assets, net:
Total long-lived assets, net	2,029.4	1,883.4
United States
Long lived assets, net:
Total long-lived assets, net	1,486.9	1,468.6
Europe, Middle East and Africa
Long lived assets, net:
Total long-lived assets, net	394.2	311.9
Asia Pacific and Other Americas
Long lived assets, net:
Total long-lived assets, net	148.3	102.9
Operating Segments
Assets:
Total assets	6,374.8	5,531.8
Operating Segments | Global Industrial Packaging
Assets:
Total assets	3,554.7	2,737.5
Operating Segments | Paper Packaging & Services
Assets:
Total assets	2,565.0	2,541.1
Operating Segments | Land Management
Assets:
Total assets	255.1	253.2
Corporate and other
Assets:
Total assets	$ 454.0	$ 429.0

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