Held for Sale Assets

3 Months Ended

Jan. 27, 2017

Assets Held for Sale [Abstract]

Assets Held for Sale

Assets Held for Sale

As of January 27, 2017 and October 28, 2016, certain assets associated with several of our U.S. facilities met the held for sale criteria in both the Surface and Underground segments. We are disposing of these non-core assets in response to adverse market conditions. The disposal groups have been recognized at the lower of cost or fair value less costs to sell.

The value of the assets as of January 27, 2017 and October 28, 2016 was $0.3 million and $3.7 million, respectively, and was entirely comprised of property, plant and equipment. We have recorded these assets as current in the Assets held for sale line of the Condensed Consolidated Balance Sheet, as we expect these assets to be sold within the next year.

For the quarter ended January 27, 2017, we recognized a gain of $0.8 million on the sale of certain held for sale assets associated with one of our electrical facilities.