17.HELD FOR SALE

In the third quarter of 2017, the Company announced that as a result of a review of its assets, the Company had decided to explore strategic alternatives, including a potential sale, of its convenience store business. On February 5, 2018, the Company announced a definitive agreement for the sale of the Company’s convenience store business for $2,150.

As of February 3, 2018, certain assets and liabilities, primarily those related to the Company’s convenience store business, were classified as held for sale in the Consolidated Balance Sheet. The Company expects to complete the sale of these disposal groups within the next year. The businesses classified as held for sale will not be reported as discontinued operations as the dispositions do not represent a strategic shift that will have a major effect on the Company’s operations and financial results.

The following table presents information related to the major classes of assets and liabilities that were classified as assets and liabilities held for sale in the Consolidated Balance Sheet as of February 3, 2018:


	February 3,
(In millions)	2018
Assets held for sale:
Cash and temporary cash investments	$	1
Store deposits in-transit		15
Receivables		49
FIFO inventory		95
LIFO reserve		(36)
Prepaid and other current assets		13
Property, plant and equipment, net		441
Intangibles, net		11
Goodwill		14
Other assets		1
Total assets held for sale	$	604

Liabilities held for sale:
Trade accounts payable	$	119
Accrued salaries and wages		14
Other current liabilities		85
Other long-term liabilities		41
Total liabilities held for sale	$	259