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Assets Held for Sale | 3 Months Ended
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Jan. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale | Assets Held for Sale In the fourth quarter of 2020, we committed to a plan to sell our screws and barrels product line within the Adhesives reporting unit under our Industrial Precision Solutions operating segment and determined that it met the criteria to be classified as held for sale. Therefore, these assets and liabilities have been presented as held for sale in the Condensed Consolidated Balance Sheets as of January 31, 2021 and October 31, 2020. Assets and liabilities classified as held for sale are measured at the lower of carrying value or fair value less costs to sell. We entered into a letter of intent to sell the screws and barrels product line in October 2020. In December 2020, we entered into a definitive agreement with the buyer and the transaction was completed in February 2021. Before measuring the fair value less costs to sell of the disposal group as a whole, we first reviewed individual assets and liabilities to determine if any fair value adjustments were required and concluded no individual asset impairments were required. Then, based on the definitive agreement entered into by us and the buyer, we determined the fair value of the disposal group to be equal to the selling price, less costs to sell. Based on this review, we recorded a non-cash, assets held for sale impairment charge of $87,371 in 2020. Subsequent adjustments to the loss due to changes in the carrying value of net assets held for sale as well as estimated sales proceeds less costs to sell were immaterial. The assets and liabilities of the screws and barrels product line classified as held for sale at January 31, 2021 and October 31, 2020 were as follows:
| January 31, 2021 |  | October 31, 2020 |  |
Receivables - net | $ | 9,883 |  |  | $ | 14,327 |  |  |
Inventories - net | 11,399 |  |  | 9,854 |  |  |
Prepaid expenses and other current assets | 1,424 |  |  | 696 |  |  |
Property, plant and equipment - net | 59,260 |  |  | 58,950 |  |  |
Other assets | 24,016 |  |  | 23,159 |  |  |
Impairment on carrying value | (86,531) |  |  | (87,371) |  |  |
Assets held for sale | $ | 19,451 |  |  | $ | 19,615 |  |  |
Accounts payable | $ | 5,010 |  |  | $ | 4,625 |  |  |
Accrued liabilities | 4,315 |  |  | 3,352 |  |  |
Other liabilities | 4,886 |  |  | 5,171 |  |  |
Liabilities held for sale | $ | 14,211 |  |  | $ | 13,148 |  |  |
Excluding the non-cash, assets held for sale impairment charge recorded in the fourth quarter of 2020, the operating results of the screws and barrels product line were not material to our Consolidated Financial Statements for any period presented.

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- References No definition available. + Details
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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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