Assets Held for Sale (Notes)

9 Months Ended

Jan. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale [Text Block]

Assets Held for Sale / Subsequent Event

During the quarter ended January 31, 2016, we reached an agreement to sell our Southern Comfort and Tuaca brands to Sazerac Company, Inc. The total book value of the related business assets as of January 31, 2016, was $48 million, and consisted of the following:

	January 31, 2016
(Dollars in millions)
Inventories	$	10
Goodwill	16
Other intangible assets	22
	$	48

The total book value is presented as assets held for sale in the accompanying condensed consolidated balance sheet as of January 31, 2016.

On March 1, 2016, we completed the sale to Sazerac Company, Inc. for approximately $542 million in cash (subject to a post-closing inventory adjustment). As a result of the sale, we expect to record a one-time operating income gain of approximately $483 million during the quarter ending April 30, 2016.