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Net Assets Held for Sale
9 Months Ended
Jul. 31, 2012
Net Assets Held for Sale [Abstract]  
NET ASSETS HELD FOR SALE

NOTE 5 — NET ASSETS HELD FOR SALE

As of July 31, 2012 and October 31, 2011, there were two and three locations with assets held for sale, respectively. During the nine months ended July 31, 2012, in the Rigid Industrial Packaging & Services segment four locations were placed back in service and depreciation was resumed and accounted for in accordance with ASC 360, “Property, Plant and Equipment” and one location was sold. As a result of placing locations back in service in 2012, the 2011 consolidated balance sheet has been reclassified for such locations to conform to the current year presentation. The reclassification of the four locations to properties, plants and equipment within the consolidated balance sheets was done in accordance with ASC 360, but are still being marketed for sale. The net 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 upcoming year.

For the three months ended July 31, 2012, the Company recorded a gain on disposal of PP&E, net of $3.3 million. There were sales of equipment in the Rigid Industrial Packaging segment which resulted in a gain of $0.6 million and sales of other miscellaneous equipment which resulted in aggregate gains of $2.7 million. None of these were previously classified as held for sale.

For the nine months ended July 31, 2012, the Company recorded a gain on disposal of PP&E, net of $6.4 million. There were sales of HBU and surplus properties which resulted in gains of $3.2 million and sales of development properties which resulted in gains of $1.2 million in the Land Management segment, a sale of equipment in the Rigid Industrial Packaging segment which resulted in aggregate gains of $0.6 million, a sale of miscellaneous equipment in the Paper Packaging segment which resulted in a gain of $0.5 million and sales of other miscellaneous equipment which resulted in aggregate gains of $0.9 million. None of these assets were previously classified as held for sale.