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NET ASSETS HELD FOR SALE AND DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT, NET
6 Months Ended
Apr. 30, 2014
Property Plant And Equipment [Abstract]  
NET ASSETS HELD FOR SALE AND DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 5 — NET ASSETS HELD FOR SALE AND DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT, NET

There were two asset groups in the Flexible Products & Services segment with assets held for sale as of April 30, 2014 and October 31, 2013. During the six months ended April 30, 2014, one asset group was added and one asset group classified as held for sale was disposed in the Flexible Products & Services segment. 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 April 30, 2014, the Company recorded a gain on disposal of property, plant and equipment, net of $1.5 million. There were sales of higher and better use (“HBU”) and surplus properties (for a description of Land Management segment property classifications, see Note 18) which resulted in gains of $1.3 million in the Land Management segment and sales of other miscellaneous equipment which resulted in aggregate gains of $0.2 million. None of these were previously classified as held for sale.

For the six months ended April 30, 2014, the Company recorded a gain on disposal of property, plant and equipment, net of $2.3 million. There were sales of HBU and surplus properties which resulted in gains of $2.7 million in the Land Management segment, a disposal of property in the Paper Packaging segment that resulted in a gain of $0.8 million, sales of other miscellaneous equipment which resulted in aggregate gains of $0.5 million partially offset by a disposal of an equity method investment in the Rigid Industrial Packaging & Services segment that resulted in a loss of $1.7 million. None of these were previously classified as held for sale.

For the three and six months ended April 30, 2014, the Company recorded a gain of $8.2 million and $16.9 million, respectively, relating to the sale of timberland. For the three and six months ended April 30, 2013, there were no sales of timberland.