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Assets Held for Sale
12 Months Ended
Sep. 30, 2021
Assets Held For Sale  
Assets Held for Sale

7. Assets Held for Sale

 

As of September 30, 2020, the Company had no properties classified as held for sale.

 

During fiscal 2021, the Company classified as held-for-sale three real estate properties with an aggregate carrying value of $8.6 million, which was later remeasured at lower of carrying value and net realizable value less cost to sell of $7.2 million. In May 2021, the Company sold one property with a carrying value of $2.3 million for $3.1 million (see Note 15).

 

The Company expects the properties held for sale, which are primarily comprised of land and buildings, to be sold within 12 months through property listings by our real estate brokers.

 

As of September 30, 2021, liabilities associated with held-for-sale assets amounted to $1.1 million. Gains or losses on the sale of properties held for sale are included in other charges (gains), net within the consolidated statements of operations (see Note 5).