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Assets and Liabilities Held for Sale
 9 Months Ended
Sep. 30, 2015
Discontinued Operations and Disposal Groups  
Assets and Liabilities Held for Sale

5. Assets and Liabilities Held for Sale

 

During the third quarter of 2015 and in connection with the acquisition of all of the outstanding stock of Pester, we committed to a plan to sell certain assets and liabilities of Pester’s fuel retail business. As all of the criteria for classification as held for sale were met, those assets and liabilities of the business were presented separately as held for sale in our consolidated balance sheets as of September 30, 2015. In accordance with the applicable accounting guidance, the long-lived assets of the disposal group were recorded at fair value less cost to sell at the acquisition date.  The current assets and liabilities within the disposal group approximate fair value based on the short maturities of these instruments.  For operating segment reporting purposes, these net assets have been reported as part of the land segment.

 

The major classes of assets and liabilities held for sale included in the Consolidated Balance Sheets are as follows (in millions):

 

 

 

 

 

 

 

As of

 

    

September 30, 2015

 

 

 

 

Current assets held for sale:

 

 

 

Accounts receivable

 

$
0.1

Inventories

 

 
4.3

Total current assets held for sale

 

$
4.4

 

 

 

 

Non-current assets held for sale:

 

 

 

Identifiable intangible assets

 

$
2.5

Property and equipment

 

 
28.0

Goodwill

 

 
3.5

Total non-current assets held for sale

 

$
34.0

 

 

 

 

Current liabilities held for sale:

 

 

 

Accrued expenses and other current liabilities

 

$
2.2

Total current liabilities held for sale

 

$
2.2

 

 

 

 

Non-current liabilities held for sale:

 

 

 

Non-current income tax liabilities

 

$
3.5

Total non-current liabilities held for sale

 

$
3.5