Assets and Liabilities Held for Sale and Disposals of Property, Plant and Equipment, Net

12 Months Ended

Oct. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale and Disposals of Property, Plant and Equipment, Net

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

As of October 31, 2019, there was one asset group within the Rigid Industrial Packaging & Services segment, three asset groups within the Paper Packaging & Services segment, one asset group in the Land Management segment, and one corporate asset group classified as assets held for sale. The assets held for sale are being marketed for sale, and it is the Company's intention to complete the sales of these assets within twelve months following their initial classification into assets held for sale.

During 2019, the Company recorded a gain on disposal of properties, plants and equipment, net of $13.9 million. This included disposals of assets in the Rigid Industrial Packaging & Services segment that resulted in gains of $7.5 million, disposals of assets in the Paper Packaging & Services segment that resulted in losses of $0.9 million, disposals of assets in the Flexible Packaging & Services segment that resulted in gains of $5.1 million, and special use property sales that resulted in gains of $2.2 million in the Land Management segment.

For the year ended October 31, 2018, the Company recorded a gain on disposal of properties, plants and equipment, net of $5.6 million. This included disposals of assets in the Rigid Industrial Packaging & Services segment that resulted in gains of $3.3 million and special use property sales that resulted in gains of $2.3 million in the Land Management segment.