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DISTRIBUTION AND PARTIAL SALE OF INVESTMENT - SITEONE
3 Months Ended
Jan. 29, 2017
DISTRIBUTION AND PARTIAL SALE OF INVESTMENT - SITEONE  
DISTRIBUTION AND PARTIAL SALE OF INVESTMENT - SITEONE

(19)  In December 2016, the Company sold approximately 38 percent of its interest in SiteOne Landscape Supply, Inc. (SiteOne) resulting in gross proceeds of approximately $114 million and a gain of $105 million pretax or $66 million after-tax. The gain is recorded in other income in the agriculture and turf operating segment. The Company retained approximately a 15 percent ownership interest in SiteOne after this sale. As a result of the Company’s representation on the SiteOne board of directors, the Company has the ability to exercise significant influence and will continue to account for the investment in SiteOne using the equity method.