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ASSETS AND LIABILITIES HELD FOR SALE
 3 Months Ended
Jan. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
ASSETS AND LIABILITIES HELD FOR SALE ASSETS AND LIABILITIES HELD FOR SALE
On December 31, 2021, the Company entered into a definitive agreement to divest its approximately 50% equity interest in the Flexible Products & Services business to its joint venture partner, Gulf Refined Packaging, for a total cash consideration of approximately $123.0 million, subject to certain conditions and post-closing adjustments. The transaction is expected to close by March 31, 2022. As of January 31, 2022, the assets and liabilities in the Flexible Packaging joint venture were classified as assets and liabilities held for sale.
The following table presents assets and liabilities classified as held for sale as of January 31, 2022:
(in millions)January 31,
2022
Cash and cash equivalents$16.9 
Trade accounts receivable, net of allowance59.6 
Inventories61.8 
Properties, plants and equipment, net41.0 
Other assets22.9 
Impairment to net realizable value(62.4)
Total assets held for sale$139.8 
Accounts payable$50.5 
Other liabilities33.0 
Total liabilities held for sale$83.5