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ASSETS HELD FOR SALE | 9 Months Ended
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Jul. 24, 2016
ASSETS HELD FOR SALE |
ASSETS HELD FOR SALE | NOTE E ASSETS HELD FOR SALE In fiscal year 2015, the Company began actively marketing a portion of DCB. Through this process, the Company identified the specific assets and liabilities to be sold and allocated goodwill based on the relative fair values of the assets held for sale and the assets that will be retained by the Company. In the second quarter of fiscal 2016, the Company entered into an agreement for the sale and recorded a $1.0 million impairment charge based on the valuation of the assets as implied by the agreed-upon sales price. This impairment was recorded on the Company’s Consolidated Statements of Operations on the line item “Goodwill impairment charge.” The transaction closed on May 9, 2016 resulting in proceeds, net of selling costs, of a preliminary closing price of $110.1 million, pending working capital adjustments. DCB was reported within the Company’s Specialty Foods segment. DCB provided approximately $260 million of net sales in fiscal 2015. Net earnings and earnings per share were not material to the consolidated Company. Amounts classified as assets and liabilities held for sale on October 25, 2015 were presented on the Company’s Consolidated Statement of Financial Position within their respective accounts, and include the following:
Assets held for sale (in thousands) |  |  |
Current assets |  | $ | 26,057
Goodwill |  |  | 51,811
Intangibles |  |  | 5,389
Property, plant and equipment |  |  | 31,678
Total assets held for sale |  | $ | 114,935
Liabilities held for sale (in thousands) |  |  |
Total current liabilities held for sale |  | $ | 3,191

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