Assets and Liabilities Held for Sale and Disposals of Properties, Plants and Equipment, Net

6 Months Ended

Apr. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale and Disposals of Properties, Plants and Equipment, Net

ASSETS AND LIABILITIES HELD FOR SALE AND DISPOSALS OF PROPERTIES, PLANTS AND EQUIPMENT, NET

The following table presents assets and liabilities classified as held for sale as of April 30, 2017 and October 31, 2016:

(in millions)	April 30, 2017		October 31, 2016
Cash and cash equivalents	$	5.9	$	—
Trade accounts receivable, less allowance	6.4		—
Inventories	2.3		—
Properties, plants and equipment, net	21.4		11.8
Goodwill	32.7		—
Other intangibles assets, net	17.0		—
Other assets	1.2		—
Assets held for sale	$	86.9	$	11.8
Accounts payable	$	2.7	$	—
Other current liabilities	4.3		—
Other long-term liabilities	10.3		—
Liabilities held for sale	$	17.3	$	—

As of April 30, 2017, there were two asset groups within the Rigid Industrial Packaging & Services segment and one asset group in the Flexible Products & Services segment classified as assets and liabilities held for sale. The assets held for sale are being marketed for sale, and it is the Company’s intention to complete the sales of these assets within the next twelve months.

As of October 31, 2016, there was one asset group in the Rigid Industrial Packaging & Services segment and one asset group in the Flexible Products & Services segment classified as assets and liabilities held for sale.

For the three months ended April 30, 2017, the Company recorded a gain on disposal of properties, plants and equipment, net of $1.8 million. This included disposals of assets in the Rigid Industrial Packaging Products & Services segment that resulted in gains of $0.3 million and special use property sales that resulted in gains of $1.5 million in the Land Management segment.

For the six months ended April 30, 2017, the Company recorded a gain on disposal of properties, plants and equipment, net of $2.8 million. This included disposals of assets in the Rigid Industrial Packaging Products & Services segment that resulted in gains of $0.9 million and special use property sales that resulted in gains of $1.9 million in the Land Management segment.

For the three months ended April 30, 2016, the Company recorded a gain on disposal of properties, plants and equipment, net of $7.9 million. This included insurance recoveries that resulted in gains of $6.4 million in the Rigid Industrial Packaging & Services segment, disposal of assets in the Flexible Products & Services segment classified as held for sale that resulted in gains of $0.8 million, sales of surplus properties in the Land Management segment that resulted in gains of $0.2 million, and other net gains totaling an additional $0.5 million.

For the six months ended April 30, 2016, the Company recorded a gain on disposal of properties, plants and equipment, net of $8.8 million. This included insurance recoveries that resulted in gains of $6.4 million in the Rigid Industrial Packaging & Services segment, disposal of assets in the Flexible Products & Services segment that resulted in gains of $0.9 million, sales of surplus properties in the Land Management segment that resulted in gains of $0.8 million, and other net gains totaling an additional $0.7 million.