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Assets and Liabilities Held for Sale and Disposals of Property, Plant, and Equipment, Net
 12 Months Ended
Oct. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]  
Assets and Liabilities Held for Sale and Disposals of Property, Plant, and Equipment, Net

NOTE 5 — ASSETS AND LIABILITIES HELD FOR SALE AND DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT, NET

As of October 31, 2014, there were three asset groups in the Rigid Industrial Packaging Products & Services segment, one asset group in the Flexible Products & Services segment and one asset group in the Land Management segment classified as assets and liabilities held for sale. As of October 31, 2013, there were two asset groups in the Flexible Products & Services segment with assets and liabilities held for sale. During 2014, one asset group classified as held for sale at October 31, 2013 was sold, another asset group previously classified as held for sale was reclassed to other current assets, one asset group within the Rigid Industrial Packaging Products & Services was added and subsequently sold during the year, two asset groups within Flexible Products & Services segment were added and subsequently sold during the year, one asset group within the Paper Packaging segment was added and subsequently sold during the year, three asset groups were added in the Rigid Industrial Packaging Products & Services segment, one asset group was added in the Flexible Products & Services segment, and HBU and surplus properties were added in the Land Management segment. The assets and liabilities held for sale are being marketed for sale and it is the Company’s intention to complete the sales of these assets within the upcoming year. For additional information regarding the sale of businesses refer to Note 2 to these consolidated financial statements.

For the year ended October 31, 2014, the Company recorded a gain on disposal of PP&E, net of $8.3 million. There were sales of HBU and surplus properties which resulted in gains of $5.4 million in the Land Management segment, a sale of equipment in the Flexible Products & Services segment that resulted in a gain of $1.1 million, a disposal of an asset in the Paper Packaging segment that resulted in a gain of $0.7 million and sales of other miscellaneous equipment which resulted in aggregate gains of $1.1 million.

For the year ended October 31, 2013, the Company recorded a gain on disposal of PP&E, net of $5.6 million. There were sales of HBU and surplus properties which resulted in gains of $1.2 million in the Land Management segment, a sale of equipment in the Paper Packaging segment that resulted in a gain of $0.6 million, a disposal of equipment in the Rigid Industrial Packaging & Services segment that resulted in a gain of $2.5 million, a sale of property that was previously classified as held for sale in the Rigid Industrial Packaging & Services segment that resulted in a gain of $0.6 million, a sale of land adjacent to our corporate offices that resulted in a gain of $0.8 million, a sale of equipment that resulted in a loss of $0.9 million and sales of other miscellaneous equipment which resulted in aggregate gains of $0.8 million.

 

For the year ended October 31, 2012, the Company recorded a gain on disposal of PP&E, net of $7.6 million. There were sales of HBU and surplus properties which resulted in gains of $5.5 million in the Land Management segment, a sale of equipment in the Rigid Industrial Packaging & Services segment which resulted in a gain of $0.6 million, a sale of miscellaneous equipment in the Paper Packaging segment which resulted in a gain of $0.5 million and sales of other miscellaneous equipment which resulted in aggregate gains of $1.0 million.

For the years ended October 31, 2014 and 2013, the Company recorded a gain of $17.1 million and $17.3 million, respectively, relating to the sale of timberland. For the year ended October 31, 2012, there were no sales of timberland.