ASSETS AND LIABILITIES HELD FOR SALE AND DISPOSALS OF PROPERTY, PLANT, EQUIPMENT AND BUSINESSES, NET

9 Months Ended

Jul. 31, 2014

Discontinued Operations And Disposal Groups [Abstract]

ASSETS AND LIABILITIES HELD FOR SALE AND DISPOSALS OF PROPERTY, PLANT, EQUIPMENT AND BUSINESSES, NET

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

There was one asset group classified as assets and liabilities held for sale in the Flexible Products & Services segment, one asset group classified as assets and liabilities held for sale in the Paper Packaging segment and one asset group classified as assets and liabilities held for sale in the Rigid Industrial Packaging & Services segment as of July 31, 2014 and there were two asset groups classified as assets and liabilities held for sale in the Flexible Products & Services segment as of October 31, 2013. During the nine months ended July 31, 2014, one asset group classified as held for sale at October 31, 2013 was sold, another asset group previously classified as held for sale at October 31, 2013 was reclassed to other current assets, and during the three months ended July 31, 2014, one asset group was classified as held for sale in the Flexible Products & Services segment, one asset group was classified as held for sale in the Paper Packaging segment and one asset group was classified as held for sale in the Rigid Industrial Packaging & Services segment . The assets and liabilities 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, 2014, the Company recorded a loss on disposal of property, plant, equipment and businesses, net of $7.7 million. There was a non-cash loss on the sale of a business in the Rigid Industrial Packaging & Services segment which resulted in a loss of $9.1 million. The loss was partially offset by 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 $0.1 million in the Land Management segment, a sale of equipment that was previously classified as held for sale in the Flexible Products & Services segment which resulted in a gain of $1.1 million and sales of other miscellaneous equipment which resulted in aggregate gains of $0.2 million.

For the nine months ended July 31, 2014, the Company recorded a loss on disposal of property, plant, equipment and businesses, net of $4.2 million. There was a non-cash loss on the sale of a business in the Rigid Industrial Packaging & Services segment which resulted in a loss of $9.1 million. The loss was offset by sales of HBU and surplus properties which resulted in gains of $2.8 million in the Land Management segment, a disposal of property in the Paper Packaging segment that resulted in a gain of $0.8 million, a sale of equipment that was previously classified as held for sale in the Flexible Products & Services segment that resulted in a gain of $1.1 million, sales of other miscellaneous equipment and equity method investments which resulted in aggregate gains of $0.2 million.

For the nine months ended July 31, 2014, the Company recorded a gain of $16.9 million relating to the sale of timberland. For the three months ended July 31, 2014, there were no sales of timberland. For the three and nine months ended July 31, 2013, there were no sales of timberland.