Discontinued Operations

12 Months Ended

Oct. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On October 26, 2015, in connection with our 2020 Vision, we sold substantially all of the assets of our Security business for cash proceeds of $131.0 million and recorded a pre-tax gain on sale of $23.6 million, which was subsequently reduced by a $3.1 million working capital adjustment in 2016. Following the sale, we record all costs associated with this former business in discontinued operations. Such costs generally relate to litigation we retained and insurance reserves. In 2017, we incurred a net loss from discontinued operations of $74.3 million (a pre-tax loss of $123.7 million) primarily due to legal settlements. In 2018, we had net income from discontinued operations of $1.8 million (pre-tax income of $2.6 million) due to an insurance reimbursement on a legal settlement and collection of previously written off receivables, partially offset by union audit settlements. In 2019, net loss from discontinued operations was de minimis.