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Greif, Inc – ‘10-Q’ for 1/31/20 – ‘R14’

On:  Friday, 2/28/20, at 2:59pm ET   ·   For:  1/31/20   ·   Accession #:  43920-20-21   ·   File #:  1-00566

Previous ‘10-Q’:  ‘10-Q’ on 8/29/19 for 7/31/19   ·   Next:  ‘10-Q’ on 6/4/20 for 4/30/20   ·   Latest:  ‘10-Q’ on 2/29/24 for 1/31/24

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/28/20  Greif, Inc                        10-Q        1/31/20   96:11M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.26M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     34K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     30K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     31K 
25: R1          Cover Page                                          HTML     86K 
58: R2          Condensed Consolidated Statements of Income         HTML    113K 
                (Unaudited)                                                      
85: R3          Condensed Consolidated Statements of Comprehensive  HTML     59K 
                Income (Loss) (Unaudited)                                        
38: R4          Condensed Consolidated Balance Sheets (Unaudited)   HTML    220K 
23: R5          Condensed Consolidated Balance Sheets (Unaudited)   HTML     30K 
                (Parenthetical)                                                  
56: R6          Condensed Consolidated Statements of Cash Flows     HTML    134K 
                (Unaudited)                                                      
83: R7          Acquisitions                                        HTML    125K 
36: R8          Basis of Presentation and Summary of Significant    HTML     43K 
                Accounting Policies                                              
26: R9          Goodwill and Other Intangible Assets                HTML     87K 
35: R10         Restructuring Charges                               HTML     73K 
20: R11         Consolidation of Variable Interest Entities         HTML     70K 
61: R12         Long-Term Debt                                      HTML     63K 
90: R13         Financial Instruments and Fair Value Measurements   HTML    134K 
34: R14         Income Taxes                                        HTML     32K 
19: R15         Post Retirement Benefit Plans                       HTML     51K 
60: R16         Contingent Liabilities and Environmental Reserves   HTML     47K 
89: R17         Earnings Per Share                                  HTML     81K 
33: R18         Leases Leases                                       HTML    165K 
21: R19         Equity and Comprehensive Income (Loss)              HTML    217K 
73: R20         Business Segment Information                        HTML    112K 
82: R21         Redeemable Noncontrolling Interests                 HTML     45K 
53: R22         Subsequent Events                                   HTML     31K 
18: R23         Basis of Presentation and Summary of Significant    HTML     42K 
                Accounting Policies (Policies)                                   
72: R24         Acquisitions (Tables)                               HTML    116K 
81: R25         Goodwill and Other Intangible Assets (Tables)       HTML     87K 
52: R26         Restructuring Charges (Tables)                      HTML     74K 
17: R27         Consolidation of Variable Interest Entities         HTML     56K 
                (Tables)                                                         
74: R28         Long-Term Debt (Tables)                             HTML     45K 
80: R29         Financial Instruments and Fair Value Measurements   HTML    120K 
                (Tables)                                                         
84: R30         Post Retirement Benefit Plans (Tables)              HTML     49K 
57: R31         Earnings Per Share (Tables)                         HTML     91K 
22: R32         (Tables)                                            HTML    138K 
37: R33         Equity and Comprehensive Income (Loss) (Tables)     HTML    220K 
87: R34         Business Segment Information (Tables)               HTML    117K 
59: R35         Redeemable Noncontrolling Interests (Tables)        HTML     40K 
24: R36         ACQUISITIONS - Additional Information (Details)     HTML     57K 
39: R37         Basis of Presentation and Summary of Significant    HTML     35K 
                Accounting Policies (Details)                                    
88: R38         ACQUISITIONS - Schedule of preliminary valuation    HTML    159K 
                of identifiable assets acquired and liabilities                  
                assumed (Details)                                                
55: R39         ACQUISITIONS - Schedule of intangible assets        HTML     50K 
                assumed (Details)                                                
77: R40         GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of   HTML     43K 
                Changes in Carrying Amount of Goodwill by Segment                
                (Details)                                                        
70: R41         GOODWILL AND OTHER INTANGIBLE ASSETS - Additional   HTML     55K 
                Information (Details)                                            
11: R42         GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of   HTML     56K 
                Carrying Amount of Net Other Intangible Assets by                
                Class (Details)                                                  
46: R43         RESTRUCTURING CHARGES - Reconciliation of           HTML     43K 
                Beginning and Ending Restructuring Reserve                       
                Balances (Details)                                               
78: R44         RESTRUCTURING CHARGES - Additional Information      HTML     38K 
                (Details)                                                        
71: R45         RESTRUCTURING CHARGES - Amounts Expected to be      HTML     61K 
                Incurred, Amounts Incurred, and Amounts Remaining                
                to Be Incurred (Details)                                         
12: R46         CONSOLIDATION OF VARIABLE INTEREST ENTITIES -       HTML     64K 
                Additional Information (Details)                                 
47: R47         CONSOLIDATION OF VARIABLE INTEREST ENTITIES -       HTML     64K 
                Total Net Assets of Flexible Packaging JV                        
                (Details)                                                        
79: R48         CONSOLIDATION OF VARIABLE INTEREST ENTITIES -       HTML     60K 
                Total Net Assets of Paper Packing JV (Details)                   
69: R49         LONG-TERM DEBT - Summary of Long-Term Debt          HTML     55K 
                (Details)                                                        
65: R50         LONG-TERM DEBT - Credit Agreement (Details)         HTML     80K 
96: R51         LONG-TERM DEBT - Senior Notes (Details)             HTML     42K 
41: R52         LONG-TERM DEBT - Trade Accounts Receivable Credit   HTML     51K 
                Facility (Details)                                               
28: R53         FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS   HTML     78K 
                - Recurring Fair Value Measurements (Details)                    
64: R54         FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS   HTML     90K 
                - Additional Information (Details)                               
95: R55         FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS   HTML     38K 
                - Estimated Fair Values for the Company's Senior                 
                Notes and Assets Held by Special Purpose Entities                
                (Details)                                                        
40: R56         FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS   HTML     46K 
                - Summary of Significant Unobservable Inputs Used                
                to Determine Fair Value Long-Lived Assets Held and               
                Used (Details)                                                   
27: R57         Income Taxes (Details)                              HTML     36K 
66: R58         POST RETIREMENT BENEFIT PLANS - Additional          HTML     51K 
                Information (Details)                                            
94: R59         POST RETIREMENT BENEFIT PLANS - Components of Net   HTML     48K 
                Periodic Pension Cost (Details)                                  
51: R60         Contingent Liabilities and Environmental Reserves   HTML     54K 
                (Details)                                                        
15: R61         EARNINGS PER SHARE - Additional Information         HTML     43K 
                (Details)                                                        
68: R62         EARNINGS PER SHARE - Computation of Earnings Per    HTML     37K 
                Share Basic and Diluted (Details)                                
76: R63         EARNINGS PER SHARE - Summarization of Company's     HTML     43K 
                Class A and Class B Common and Treasury Shares                   
                (Details)                                                        
50: R64         EARNINGS PER SHARE - Reconciliation of Shares Used  HTML     41K 
                to Calculate Basic and Diluted Earnings Per Share                
                (Details)                                                        
14: R65         Components of Lease Expense (Details)               HTML     36K 
67: R66         Maturities of Operating and Financing Lease         HTML     84K 
                Liabilities (Details)                                            
75: R67         Lease Liabilities (Details)                         HTML     47K 
48: R68         LEASES - Information Related to Company's Rent      HTML     31K 
                Expense (Details)                                                
16: R69         LEASES - Company's Minimum Rent Commitments Under   HTML     67K 
                Operating and Capital Leases (Details)                           
31: R70         LEASES - Other Information (Details)                HTML     38K 
43: R71         LEASES - Cash Flow (Details)                        HTML     37K 
92: R72         Equity and Comprehensive Income (LOSS) - Summary    HTML    126K 
                of Changes in Equity (Details)                                   
62: R73         Equity and Comprehensive Income (LOSS) - Schedule   HTML     51K 
                of Accumulated Other Comprehensive Income (Loss)                 
                (Details)                                                        
32: R74         BUSINESS SEGMENT INFORMATION - Additional           HTML     31K 
                Information (Details)                                            
44: R75         BUSINESS SEGMENT INFORMATION - Geographic Area      HTML     59K 
                (Details)                                                        
93: R76         BUSINESS SEGMENT INFORMATION - Segment Information  HTML     42K 
                (Details)                                                        
63: R77         BUSINESS SEGMENT INFORMATION - Properties, Plants   HTML     54K 
                and Equipment, Net by Geographical Area (Details)                
29: R78         REDEEMABLE NONCONTROLLING INTERESTS - Rollforward   HTML     39K 
                of Mandatorily Redeemable Noncontrolling Interest                
                (Details)                                                        
45: R79         REDEEMABLE NONCONTROLLING INTERESTS - Additional    HTML     40K 
                Information (Details)                                            
30: R80         REDEEMABLE NONCONTROLLING INTERESTS - Rollforward   HTML     41K 
                of Redeemable Noncontrolling Interest (Details)                  
42: R81         Subsequent Events (Details)                         HTML     34K 
13: XML         IDEA XML File -- Filing Summary                      XML    179K 
54: XML         XBRL Instance -- gef2020q110-q_htm                   XML   3.17M 
86: EXCEL       IDEA Workbook of Financial Reports                  XLSX    102K 
 7: EX-101.CAL  XBRL Calculations -- gef-20200131_cal                XML    397K 
 8: EX-101.DEF  XBRL Definitions -- gef-20200131_def                 XML    939K 
 9: EX-101.LAB  XBRL Labels -- gef-20200131_lab                      XML   2.10M 
10: EX-101.PRE  XBRL Presentations -- gef-20200131_pre               XML   1.34M 
 6: EX-101.SCH  XBRL Schema -- gef-20200131                          XSD    210K 
91: JSON        XBRL Instance as JSON Data -- MetaLinks              456±   699K 
49: ZIP         XBRL Zipped Folder -- 0000043920-20-000021-xbrl      Zip    344K 


‘R14’   —   Income Taxes


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.19.3.a.u2
INCOME TAXES
3 Months Ended
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company completed the Caraustar Acquisition on February 11, 2019 and has recorded a net deferred tax liability of $138.8 million, which is primarily related to intangible assets that cannot be amortized for tax purposes. See Note 2 to the interim condensed consolidated financial statements for additional information.
Income tax expense for the quarter and 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 fluctuates primarily due to changes in losses and income from jurisdictions for which a valuation allowance has been provided, the timing of recognition of the related tax expense under ASC 740-270, and the impact of discrete items in the respective quarter.
For the three months ended January 31, 2020, income tax expense was $11.4 million compared to $20.0 million for the three months ended January 31, 2019. The decrease in income tax expense for the three months ended January 31, 2020 was primarily attributable to changes in the expected mix of earnings among tax jurisdictions, the favorable impacts of the reduction of interest addbacks, additional domestic tax credits extended to the current fiscal year, and discrete items.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:2/28/204
For Period end:1/31/20
2/11/198-K,  8-K/A,  SC 13G/A
1/31/1910-Q
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Filing Submission 0000043920-20-000021   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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