ACQUISITIONS AND DIVESTITURES (Tables)

3 Months Ended

Jan. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred to acquire Lee Container 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	$	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 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

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:

(in millions)	Final Purchase Price Allocation		Weighted Average Estimated Useful Life
Customer relationships	$	120.0	15.0
Trademarks	13.5		5.0
Total intangible assets	$	133.5

The following unaudited supplemental pro forma data presents consolidated information as if the acquisition had been completed on November 1, 2021. These amounts were calculated after adjusting 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 tax expense, and related transaction costs.

	Three Months Ended January 31,
(in millions, except per share amounts)	2023		2022
Pro forma net sales	$	1,288.4	$	1,602.9
Pro forma net income attributable to Greif, Inc.	102.2		9.5
Basic earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock	$	1.76	$	0.16
Class B common stock	$	2.63	$	0.24
Diluted earnings per share attributable to Greif, Inc. common shareholders:
Class A common stock	$	1.75	$	0.17
Class B common stock	$	2.63	$	0.24