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Divestiture Activities | 12 Months Ended
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Oct. 31, 2018
Discontinued Operations And Disposal Groups [Abstract] |
Divestiture Activities | Note 6. Divestiture Activities The Company regularly reviews its businesses and assets for those which may no longer be aligned with the Company’s long-term strategic and financial objectives. As a result of this review, at October 31, 2018, management decided to divest certain businesses and assets which include the Revability business, one Regional Technical Center (“RTC”), the Company’s rental fleet, and certain other assets. On December 19, 2018, the Company signed a definitive purchase agreement for the sale of its mobility van business, Revability, with annual sales of approximately $40 million. All assets and operations at the Clarkston and Davisburg, Michigan facilities identified on “Item 2. Properties” will be transferred to the buyer. This divestiture and the other anticipated divestitures are expected to generate cash of approximately $40 million in fiscal year 2019 and allow management and the Company to focus their time and financial resources on the remaining core businesses and assets. The assets and liabilities related to the businesses that met the held for sale criteria are reflected in the consolidated balance sheet as of October 31, 2018 at estimated fair value, less cost to sell. The other assets are reflected in the consolidated balance sheet at net realizable value within inventory and property and equipment. The Company expects to sell these businesses and other assets within one year from the balance sheet date and classified the aforementioned fair value estimates within Level 3 of the fair value hierarchy, as the significant inputs are not observable. A non-cash impairment charge of $35.6 million was recorded as of October 31, 2018 that relates to both the assets held for sale and other assets that management intends to monetize or are otherwise impaired which include the Company’s rental fleet, inventory from discontinued product lines and certain information system assets. The major classes of assets and liabilities held for sale were as follows: property, plant and equipment, net—$11.5 million, inventories, net—$11.4 million, accounts receivable, net—$2.9 million, other current assets—$0.5 million, accounts payable—$3.9 million and other current liabilities—$1.6 million.

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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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