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HELD FOR SALE AND DISPOSAL OF BUSINESS | 12 Months Ended
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Feb. 02, 2019
HELD FOR SALE AND DISPOSAL OF BUSINESS |
HELD FOR SALE AND DISPOSAL OF BUSINESS | 17.HELD FOR SALE AND DISPOSAL OF BUSINESS During the second quarter of 2018, the Company announced that as a result of a review of its assets, the Company has decided to explore strategic alternatives for its Turkey Hill Dairy business, including a potential sale. Additionally during the fourth quarter of 2018, the Company announced that it had entered into a definitive agreement to sell its You Technology business. The following table presents information related to the major classes of assets and liabilities of all business that were classified as assets and liabilities held for sale in the Consolidated Balance Sheet as of February 2, 2019 and February 3, 2018:
| February 2, |  | February 3,
(In millions) | 2019 |  | 2018
Assets held for sale: |  |  |  |  |
Cash and temporary cash investments | $ | 1 |  | $ | 1
Store deposits in transit |  | - |  |  | 15
Receivables |  | 64 |  |  | 49
FIFO inventory |  | 21 |  |  | 95
LIFO reserve |  | (1) |  |  | (36)
Prepaid and other current assets |  | 3 |  |  | 13
Property, plant and equipment, net |  | 77 |  |  | 441
Intangibles, net |  | - |  |  | 11
Goodwill |  | 1 |  |  | 14
Other assets |  | - |  |  | 1
Total assets held for sale | $ | 166 |  | $ | 604
Liabilities held for sale: |  |  |  |  |
Trade accounts payable | $ | 26 |  | $ | 119
Accrued salaries and wages |  | 8 |  |  | 14
Other current liabilities |  | 17 |  |  | 85
Other long-term liabilities |  | - |  |  | 41
Total liabilities held for sale | $ | 51 |  | $ | 259
Subsequent to February 2, 2019, the Company completed the sale of its You Technology business unit and announced a definitive agreement for its Turkey Hill Dairy business unit. 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. 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. On April 20,2018, the Company completed the sale of its convenience store business unit for $2,169. The Company recognized a net gain on this sale for $1,782, $1,360 net of tax, in 2018.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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