DISCONTINUED OPERATIONS AND OTHER DIVESTITURES

Lamb Weston Spinoff

On November 9, 2016, we completed the spinoff of our Lamb Weston business (the "Spinoff"). As of such date, we did not beneficially own any equity interest in Lamb Weston and no longer consolidated Lamb Weston into our financial results. We reflected the results of this business as discontinued operations for all periods presented.



	Thirteen weeks ended			Thirty-nine weeks ended
	February 25, 2018			February 24, 2019			February 25, 2018
Loss from discontinued operations before income taxes	$	—		$	—		$	(0.3	)
Income tax expense (benefit)	(14.5		)	2.8			(14.6		)
Income (loss) from discontinued operations, net of tax	$	14.5		$	(2.8	)	$	14.3

We entered into a transition services agreement in connection with the Spinoff and recognized $0.1 million and $2.2 million of income for the performance of services during the third quarter and first three quarters of fiscal 2018, respectively, classified within selling, general and administrative ("SG&A") expenses.

Private Brands Operations

On February 1, 2016, pursuant to the Stock Purchase Agreement, dated as of November 1, 2015, we completed the disposition of our Private Brands operations to TreeHouse Foods, Inc. In the first three quarters of fiscal 2019 and 2018, we recognized income of $0.9 million and $0.2 million, respectively, within discontinued operations. We entered into a transition services agreement with TreeHouse Foods, Inc. and recognized $2.2 million of income for the performance of services during the first three quarters of fiscal 2018 classified within SG&A expenses.

Other Divestitures

During the first quarter of fiscal 2019, we completed the sale of our Del Monte^® processed fruit and vegetable business in Canada, which was included in our International segment, to Bonduelle Group for combined proceeds of $42.4 million Canadian dollars, which was equivalent to approximately $32.2 million U.S. dollars at the exchange rates on the closing date of the transaction and the final settlement of the working capital adjustments. We recognized a gain on the sale of $13.2 million recognized within SG&A expenses. The assets of this business have been reclassified as assets held for sale within our Condensed Consolidated Balance Sheets for periods prior to the divestiture.

The assets classified as held for sale reflected in our Condensed Consolidated Balance Sheets related to the Del Monte^® processed fruit and vegetable business in Canada were as follows:



	May 27, 2018
Current assets	$	6.1
Noncurrent assets (including goodwill of $5.8 million)	11.5

On February 25, 2019, subsequent to the end of the third quarter of fiscal 2019, we completed the sale of our Wesson^® oil business, for net proceeds of $167.1 million, subject to final working capital adjustments. The business is primarily included in our Grocery & Snacks segment.

The assets and liabilities classified as held for sale reflected in our Condensed Consolidated Balance Sheets related to the Wesson^® oil business were as follows:



	February 24, 2019		May 27, 2018
Current assets	$	27.9	$	37.7
Noncurrent assets (including goodwill of $74.5 million)	104.2		101.0
Current liabilities	0.3		—

The Company expects to sell its Italian-based frozen pasta business, Gelit, headquartered in Doganella di Ninfa, Italy, within the next twelve months.

The assets and liabilities classified as held for sale reflected in our Condensed Consolidated Balance Sheets related to the Gelit business were as follows:



	February 24, 2019		May 27, 2018
Current assets	$	19.6	$	23.5
Noncurrent assets (including goodwill of $15.1 million)	43.3		43.3
Current liabilities	13.6		13.9
Noncurrent liabilities	6.9		4.4

In addition, we are actively marketing certain other assets totaling $11.6 million and $29.4 million at February 24, 2019, and May 27, 2018, respectively. These assets have been reclassified as assets held for sale within our Condensed Consolidated Balance Sheets for all periods presented.