Discontinued Operations

6 Months Ended

Apr. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

HELD FOR SALE

    During the fourth quarter of 2016, in connection with the key priorities of our 2020Vision, we made the decision to divest our Government Services business and accordingly classified the assets and liabilities of the business as held for sale. We engaged a third-party broker to assist in the divestiture process. In connection with the held-for-sale classification in 2016, we wrote down goodwill and long-lived assets of this business by $22.5 million to reflect our best estimate of fair value less costs to sell using all information available at that time. During the second quarter of 2017, we received an offer from a strategic buyer to purchase our Government Services business for approximately $35.0 million, which was higher than our previous estimate of fair value less costs to sell. As a result, in the second quarter of 2017 we recorded a $17.4 million impairment recovery to adjust the fair value of certain previously impaired assets to the valuation of the assets as implied by the agreed-upon sales price, less estimated costs to sell. Subsequent to the second quarter, on May 31, 2017, we completed the sale of this business for $35.5 million, subject to certain post-closing adjustments.

Major Classes of Assets and Liabilities Held for Sale at Estimated Fair Value

(in millions)	April 30, 2017		October 31, 2016
Trade accounts receivable, net	$	25.9	$	23.8
Investments in unconsolidated affiliates	12.0		7.7
Goodwill	6.0		—
Other intangible assets, net	4.4		—
Other assets	2.8		4.5
Assets held for sale	51.1		36.1
Trade accounts payable	11.8		11.8
Other liabilities	5.5		4.8
Liabilities held for sale	$	17.3	$	16.8

As of October 31, 2016, we reclassified $8.1 million of trade accounts receivable, net and $2.6 million of trade accounts payable from held-for-sale to held-and-used based on the terms of the agreement to sell this business.

DISCONTINUED OPERATIONS

Following the sale of our Security business in 2015, we record all costs associated with this former business in discontinued operations. Such costs typically relate to legal cases and insurance reserves. For the six months endedApril 30, 2017, we incurred a net loss from discontinued operations of $73.2 million (a pretax loss of $123.7 million). As described in Note 12, “Commitments and Contingencies,” this loss primarily relates to the probable settlements of the Augustus and Karapetyan cases. We recorded the liability for these probable settlements within “Legal settlements from discontinued operations” on the accompanying unaudited consolidated balance sheets.