0000050725-22-000007 | 10-Q | XBRL Viewer

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Cover Page	3 Months Ended
Cover Page	Dec. 31, 2021 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	1-06620
Entity Registrant Name	GRIFFON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-1893410
Entity Address, Address Line One	712 Fifth Ave, 18th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	957-5000
Title of 12(b) Security	Common Stock, $0.25 par value
Trading Symbol	GFF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	56,303,873
Current Fiscal Year End Date	--09-30
Amendment Flag	false
Entity Central Index Key	0000050725
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
CURRENT ASSETS
Cash and equivalents	$ 151,220	$ 248,653
Accounts receivable, net of allowances of $9,787 and $8,787	334,040	294,804
Inventories	531,182	472,794
Prepaid and other current assets	75,862	76,009
Total Current Assets	1,354,401	1,366,279
PROPERTY, PLANT AND EQUIPMENT, net	290,552	292,622
OPERATING LEASE RIGHT-OF-USE ASSETS	141,406	144,598
GOODWILL	426,683	426,148
INTANGIBLE ASSETS, net	346,802	350,025
OTHER ASSETS	19,524	21,589
ASSETS OF DISCONTINUED OPERATIONS	3,375	3,424
Total Assets	2,582,743	2,604,685
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	15,675	12,486
Accounts payable	243,611	260,140
Accrued liabilities	147,269	145,101
Current portion of operating lease liabilities	28,932	29,881
Total Current Liabilities	512,838	531,636
LONG-TERM DEBT, net	1,037,755	1,033,197
LONG-TERM OPERATING LEASE LIABILITIES	117,189	119,315
OTHER LIABILITIES	98,836	109,585
LIABILITIES OF DISCONTINUED OPERATIONS	3,740	3,794
Total Liabilities	1,770,358	1,797,527
COMMITMENTS AND CONTINGENCIES - See Note 22
SHAREHOLDERS’ EQUITY
Total Shareholders’ Equity	812,385	807,158
Total Liabilities and Shareholders’ Equity	2,582,743	2,604,685
Discontinued Operations, Held-for-sale
CURRENT ASSETS
Assets of discontinued operations	261,514	273,414
CURRENT LIABILITIES
Liabilities of discontinued operations	74,256	80,748
Discontinued Operations, Not Held-for-sale
CURRENT ASSETS
Assets of discontinued operations	583	605
CURRENT LIABILITIES
Liabilities of discontinued operations	$ 3,095	$ 3,280

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Statement of Financial Position [Abstract]
Accounts receivable, net allowances	$ 9,787	$ 8,787

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	COMMON STOCK	CAPITAL IN EXCESS OF PAR VALUE	RETAINED EARNINGS	TREASURY SHARES	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	DEFERRED COMPENSATION
Balance (in shares) at Sep. 30, 2020		83,739			27,610
Balance at Sep. 30, 2020	$ 700,151	$ 20,935	$ 583,008	$ 607,518	$ (413,493)	$ (72,092)	$ (25,725)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,500			29,500
Dividend	(4,469)			(4,469)
Shares withheld on employee taxes on vested equity awards (in shares)					133
Shares withheld on employee taxes on vested equity awards	(2,909)				$ (2,909)
Amortization of deferred compensation	609						609
Equity awards granted, net (in shares)		494
Equity awards granted, net	0	$ 123	(123)
ESOP allocation of common stock	596		596
Stock-based compensation	3,428		3,428
Other comprehensive income, net of tax	13,141					13,141
Balance (in shares) at Dec. 31, 2020		84,233			27,743
Balance at Dec. 31, 2020	740,047	$ 21,058	586,909	632,549	$ (416,402)	(58,951)	(25,116)
Balance (in shares) at Sep. 30, 2021		84,375			27,762
Balance at Sep. 30, 2021	807,158	$ 21,094	602,181	669,998	$ (416,850)	(45,977)	(23,288)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	19,298			19,298
Dividend	(4,739)			(4,739)
Shares withheld on employee taxes on vested equity awards (in shares)					422
Shares withheld on employee taxes on vested equity awards	(10,886)				$ (10,886)
Amortization of deferred compensation	591						591
Equity awards granted, net (in shares)		113
Equity awards granted, net	0	$ 28	(28)
ESOP allocation of common stock	848		848
Stock-based compensation	2,866		2,866
Other comprehensive income, net of tax	(2,751)					(2,751)
Balance (in shares) at Dec. 31, 2021		84,488			28,184
Balance at Dec. 31, 2021	$ 812,385	$ 21,122	$ 605,867	$ 684,557	$ (427,736)	$ (48,728)	$ (22,697)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 591,749	$ 541,523
Cost of goods and services	425,907	377,387
Gross profit	165,842	164,136
Selling, general and administrative expenses	127,352	111,709
Income from operations	38,490	52,427
Other income (expense)
Interest expense	(15,681)	(15,690)
Interest income	33	44
Other, net	1,381	357
Total other expense, net	(14,267)	(15,289)
Income before taxes from continuing operations	24,223	37,138
Provision for income taxes	7,318	11,708
Income from continuing operations	16,905	25,430
Discontinued operations:
Income from operations of discontinued operations	3,014	2,031
Provision (benefit) for income taxes	621	(2,039)
Income from discontinued operations	2,393	4,070
Net income	$ 19,298	$ 29,500
Basic earnings per common share:
Income from continuing operations (in dollars per share)	$ 0.33	$ 0.50
Income from discontinued operations (in dollars per share)	0.05	0.08
Basic earnings per common share (in dollars per share)	$ 0.38	$ 0.58
Basic weighted-average shares outstanding (in shares)	51,178	50,596
Diluted earnings per common share:
Income from continuing operations (in dollars per share)	$ 0.31	$ 0.48
Income (loss) from discontinued operations (in dollars per share)	0.04	0.08
Diluted earnings per common share (in dollars per share)	$ 0.36	$ 0.55
Diluted weighted-average shares outstanding (in shares)	53,753	53,192
Dividends paid per common share (in dollars per share)	$ 0.09	$ 0.08
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	$ (2,319)	$ 12,123
Pension and other post retirement plans	668	1,706
Change in cash flow hedges	(1,100)	(688)
Total other comprehensive income, net of taxes	(2,751)	13,141
Comprehensive income, net	$ 16,547	$ 42,641

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 19,298	$ 29,500
Net income from discontinued operations	(2,393)	(4,070)
Adjustments to reconcile net income to net cash provided by (used in) operating activities of continuing operations:
Depreciation and amortization	13,081	12,590
Stock-based compensation	4,867	4,208
Asset impairment charges - restructuring	289	193
Provision for losses on accounts receivable	352	93
Amortization of debt discounts and issuance costs	654	680
Deferred income taxes	2,883	321
(Gain) loss on sale of assets and investments	(154)	174
Change in assets and liabilities, net of assets and liabilities acquired:
Increase in accounts receivable	(53,132)	(40)
Increase in inventories	(59,478)	(32,791)
(Increase) decrease in prepaid and other assets	329	(4,901)
Increase (decrease) in accounts payable, accrued liabilities, income taxes payable and operating lease liabilities	(12,204)	5,074
Other changes, net	662	1,284
Net cash provided by (used in) operating activities - continuing operations	(84,946)	12,315
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(10,573)	(9,022)
Acquired businesses, net of cash acquired	0	(2,242)
Proceeds from sale of investments	575	0
Proceeds from the sale of property, plant and equipment	29	53
Other, net	0	26
Net cash used in investing activities - continuing operations	(9,969)	(11,185)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid	(5,260)	(4,422)
Purchase of shares for treasury	(10,886)	(2,909)
Proceeds from long-term debt	10,815	40,791
Payments of long-term debt	(2,500)	(42,120)
Financing costs	(753)	(569)
Other, net	(28)	(68)
Net cash used in financing activities - continuing operations	(8,612)	(9,297)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash provided by operating activities	7,857	7,762
Net cash provided by (used in) investing activities	(853)	14,900
Net cash provided by discontinued operations	7,004	22,662
Effect of exchange rate changes on cash and equivalents	(910)	1,223
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	(97,433)	15,718
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	248,653	218,089
CASH AND EQUIVALENTS AT END OF PERIOD	$ 151,220	$ 233,807

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION About Griffon Corporation Griffon Corporation (the “Company”, “Griffon”, "we" or "us") is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital. The Company was founded in 1959, is a Delaware corporation headquartered in New York, N.Y. and is listed on the New York Stock Exchange (NYSE:GFF). On January 24, 2022, Griffon acquired Hunter Fan Company (“Hunter”), a market leader in residential ceiling, commercial, and industrial fans, from MidOcean Partners (“MidOcean”) for a purchase price of approximately $845,000, subject to customary post-closing adjustments. Hunter will be part of Griffon's Consumer and Professional Products segment as it complements and diversifies our portfolio of leading consumer brands and products. The acquisition of Hunter was financed with a new $800,000 seven year Term Loan B facility; and a combination of cash on hand and revolver borrowings under Griffon's revolving credit facility ("Credit Agreement") was used to fund the balance of the purchase price and related acquisition and debt expenditures. On September 27, 2021, Griffon announced it is exploring strategic alternatives for its Defense Electronics (DE) segment, which consists of its subsidiary Telephonics Corporation ("Telephonics"), including a sale. As a result, Griffon classified the results of operations of the Telephonics business as a discontinued operation in the Consolidated Statements of Operations for all periods presented and classified the related assets and liabilities associated with the discontinued operation as held for sale in the consolidated balance sheets. Accordingly, all references made to results and information in this Quarterly Report on Form 10-Q are to Griffon's continuing operations, unless specifically noted. Telephonics is recognized globally as a leading provider of highly sophisticated intelligence, surveillance and communications solutions that are deployed across a wide range of land, sea and air applications. Telephonics designs, develops, manufactures and provides logistical support and lifecycle sustainment services to defense, aerospace and commercial customers worldwide. Griffon now conducts its operations through two reportable segments: •Consumer and Professional Products (“CPP”) is a leading North American manufacturer and a global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid. •Home and Building Products ("HBP") conducts its operations through Clopay Corporation ("Clopay"). Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America. Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the CornellCookson brand. In March 2020, the World Health Organization declared the outbreak of COVID-19 a pandemic, which continues to spread throughout the U.S. and the world. The impact from the rapidly changing U.S. and global market and economic conditions due to the COVID-19 outbreak is uncertain, with disruptions to the business of our customers and suppliers, which has impacted, and could continue to impact, our business and consolidated results of operations and financial condition. As of the date of this filing, all of Griffon's facilities are fully operational. We have implemented a variety of new policies and procedures, including additional cleaning, social distancing, staggered shifts and prohibiting or significantly restricting on-site visitors, to minimize the risk to our employees of contracting COVID-19. In the United States, we manufacture a substantial majority of the products that we sell. While this helps mitigate the effects of global supplier and transportation disruptions, we are still impacted and are unable to accurately predict the impact COVID-19 will have due to numerous uncertainties, including the severity of the disease, the duration of the outbreak, actions that may be taken by governmental authorities, the impact to our customers’ and suppliers’ businesses and other factors identified in Part II, Item 1A “Risk Factors” in this Form 10-Q. We will continue to evaluate the nature and extent of the impact to our business, consolidated results of operations, and financial condition. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by US GAAP for complete financial statements. As such, they should be read together with Griffon’s Annual Report on Form 10-K for the year ended September 30, 2021, which provides a more complete explanation of Griffon’s accounting policies, financial position, operating results, business, properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results. Griffon’s CPP operations are seasonal; for this and other reasons, the financial results of the Company for any interim period are not necessarily indicative of the results for the full year. The condensed consolidated balance sheet information at September 30, 2021 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2021. The condensed consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. These estimates may be adjusted due to changes in economic, industry or customer financial conditions, as well as changes in technology or demand. Significant estimates include expected loss allowances for doubtful accounts receivable and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, sales, assumptions associated with pension benefit obligations and income or expenses, useful lives associated with depreciation and amortization of intangible and fixed assets, warranty reserves, sales incentive accruals, assumption associated with stock based compensation valuation, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves, the valuation of assets and liabilities of discontinued operations, assumptions associated with valuation of acquired assets and assumed liabilities of acquired companies and the accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions Griffon may undertake in the future. Actual results may ultimately differ from these estimates. Certain amounts in the prior year have been reclassified to conform to current year presentation.

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The carrying values of cash and equivalents, accounts receivable, accounts and notes payable, and revolving credit and variable interest rate debt approximate fair value due to either the short-term nature of such instruments or the fact that the interest rate of the revolving credit and variable rate debt is based upon current market rates. Applicable accounting guidance establishes a fair value hierarchy requiring the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The accounting guidance establishes three levels of inputs that may be used to measure fair value, as follows: •Level 1 inputs are measured and recorded at fair value based upon quoted prices in active markets for identical assets. •Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities. •Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The fair values of Griffon’s 2028 senior notes approximated $1,037,500 on December 31, 2021. Fair values were based upon quoted market prices (level 1 inputs). Insurance contracts with values of $4,000 at December 31, 2021 are measured and recorded at fair value based upon quoted prices in active markets for similar assets (level 2 inputs) and are included in Prepaid and other current assets on the Consolidated Balance Sheets. Items Measured at Fair Value on a Recurring Basis At December 31, 2021, marketable debt and equity securities, measured at fair value based on quoted prices in active markets for similar assets (level 2 inputs), with a fair value of $15,442 ($15,050 cost basis) were included in Prepaid and other current assets on the Consolidated Balance Sheets. Realized and unrealized gains and losses on marketable debt and equity securities are included in Other income in the Consolidated Statements of Operations and Comprehensive Income (Loss). In the normal course of business, Griffon’s operations are exposed to the effects of changes in foreign currency exchange rates. To manage these risks, Griffon may enter into various derivative contracts such as foreign currency exchange contracts, including forwards and options. As of December 31, 2021, Griffon entered into several such contracts in order to lock into a foreign currency rate for planned settlements of trade and inter-company liabilities payable in U.S. dollars. At December 31, 2021, Griffon had $21,000 of Australian dollar contracts at a weighted average rate of $1.34 which qualified for hedge accounting (level 2 inputs). These hedges were all deemed effective as cash flow hedges with gains and losses related to changes in fair value deferred and recorded in Accumulated other comprehensive income (loss) ("AOCI") and Prepaid and other current assets, or Accrued liabilities, until settlement. Upon settlement, gains and losses are recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in Cost of goods and services ("COGS"). AOCI included deferred gains of $688 ($481, net of tax) at December 31, 2021. Upon settlement, gains of $1,533 were recorded in COGS during the three months ended December 31, 2021. All contracts expire in 30 to 90 days. At December 31, 2021, Griffon had $6,675 of Canadian dollar contracts at a weighted average rate of $1.25. The contracts, which protect Canadian operations from currency fluctuations for U.S. dollar based purchases, do not qualify for hedge accounting. For the three months ended December 31, 2021, fair value (losses) gains of $134 were recorded to Other liabilities and to Other income for the outstanding contracts, based on similar contract values (level 2 inputs). Realized gains of $14 were recorded in Other income during the three months ended December 31, 2021 for all settled contracts. All contracts expire in 30 to 270 days.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

REVENUE	3 Months Ended
REVENUE	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUEThe Company recognizes revenue when performance obligations identified under the terms of contracts with its customers are satisfied. A performance obligation is a promise in a contract to transfer a distinct good or service, or a bundle of goods or services, to the customer, and is the unit of accounting. A contract with a customer is an agreement which both parties have approved, that creates enforceable rights and obligations, has commercial substance and with respect to which payment terms are identified and collectability is probable. Once the Company has entered into a contract or purchase order, it is evaluated to identify performance obligations. For each performance obligation, revenue is recognized when control of the promised products is transferred to the customer, or services are satisfied under the contract or purchase order, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services (the transaction price). The majority of the Company’s performance obligations are recognized at a point in time related to the manufacture and sale of a broad range of products and components primarily within the CPP and HBP Segments, and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment. Within our discontinued operation, Defense Electronics, performance obligations are recognized over time and relate to prime or subcontractors from contract awards with the U.S. Government, as well as foreign governments and other commercial customers. Revenue recognized over time are generally accounted for using an input measure to determine progress completed at the end of the period. We believe that cumulative costs incurred to date as a percentage of estimated total contract costs at completion (cost-to-cost method) is an appropriate measure of progress towards satisfaction of performance obligations recognized over time, as it most accurately depicts the progress of our work and transfer of control to our customers. For a complete explanation of Griffon’s revenue accounting policies, this note should be read in conjunction with Griffon’s Annual Report on Form 10-K for the year ended September 30, 2021. See Note 13 - Business Segments for revenue from contracts with customers disaggregated by end markets, segments and geographic location.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

ACQUISITIONS	3 Months Ended
ACQUISITIONS	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Griffon continually evaluates potential acquisitions that strategically fit within its portfolio or expand its portfolio into new product lines or adjacent markets. Griffon has completed a number of acquisitions that have been accounted for as business combinations, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition and have resulted in the recognition of goodwill . The operating results of the business acquisitions are included in Griffon’s consolidated financial statements from the date of acquisition; in each instance, Griffon is in the process of finalizing the initial purchase price allocation unless otherwise noted. On January 24, 2022, Griffon completed the acquisition of Hunter, a market leader in residential ceiling, commercial, and industrial fans, for a purchase price of approximately $845,000, subject to customary post-closing adjustments. Hunter will be part of Griffon's CPP segment as it complements and diversifies our portfolio of leading consumer brands and products. As a result of the timing of this acquisition, all information required by the accounting guidance for business combinations, including certain pro forma information, is not disclosed. We will provide preliminary purchase price allocation information as well as other required disclosures in our Quarterly Report on Form 10-Q for the quarter ending March 31, 2022. On December 22, 2020, AMES acquired Quatro Design Pty Ltd (“Quatro”), a leading Australian manufacturer and supplier of glass fiber reinforced concrete landscaping products for residential, commercial, and public sector projects for a net purchase price of AUD $3,500 (approximately $2,700) in cash. The final purchase price allocated to goodwill and acquired intangibles was AUD $1,038 (approximately $784) and AUD $2,755 (approximately $2,082), respectively, which was assigned to the CPP segment, and is not deductible for income tax purposes. During the three months ended December 31, 2021, the Company incurred acquisition costs of $2,595. During the three months ended December 31, 2020, acquisition costs were de minimis.

INVENTORIES

3 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out or average cost) or market.

The following table details the components of inventory:


	At December 31, 2021		At September 30, 2021
Raw materials and supplies	$	151,292	$	133,684
Work in process	46,679		48,531
Finished goods	333,211		290,579
Total	$	531,182	$	472,794

PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

The following table details the components of property, plant and equipment, net:


	At December 31, 2021		At September 30, 2021
Land, building and building improvements	$	163,841	$	164,486
Machinery and equipment	525,928		520,110
Leasehold improvements	40,111		39,913
	729,880		724,509
Accumulated depreciation and amortization	(439,328)		(431,887)
Total	$	290,552	$	292,622

Depreciation and amortization expense for property, plant and equipment was $10,694 and $10,238 for the quarters ended December 31, 2021 and 2020, respectively. Depreciation included in Selling, general and administrative ("SG&A") expenses was $3,400 and $3,262 for the quarters ended December 31, 2021 and 2020. Remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services.

CREDIT LOSSES

3 Months Ended

Dec. 31, 2021

Credit Loss [Abstract]

CREDIT LOSSES

Effective October 1, 2020, the Company adopted accounting guidance related to accounting for credit losses on financial instruments, including trade receivables (ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments). The guidance requires companies to consider forward-looking information to estimate expected credit losses, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under the previous accounting guidance.

The Company is exposed to credit losses primarily through sales of products and services. Trade receivables are recorded at their stated amount, less allowances for discounts, doubtful accounts and returns. The Company’s expected loss allowance methodology for trade receivables is primarily based on the aging method of the accounts receivables balances and the financial condition of its customers. The allowances represent estimated uncollectible receivables associated with potential customer defaults on contractual obligations (usually due to customers’ potential insolvency), discounts related to early payment of accounts receivables by customers and estimates for returns. The allowance for doubtful accounts includes amounts for certain customers in which a risk of default has been specifically identified, as well as an amount for customer defaults, based on a formula, when it is determined the risk of some default is probable and estimable, but cannot yet be associated with specific customers. Allowance for discounts and returns are recorded as a reduction of revenue and the provision related to the allowance for doubtful accounts is recorded in SG&A expenses.

The Company also considers current and expected future economic and market conditions, such as the COVID-19 pandemic, when determining any estimate of credit losses. Generally, estimates used to determine the allowance are based on assessment of anticipated payment and all other historical, current and future information that is reasonably available. All accounts receivable amounts are expected to be collected in less than one year.

Based on a review of the Company's policies and procedures across all segments, including the aging of its trade receivables, recent write-off history and other factors related to future macroeconomic conditions, Griffon determined that its method to determine credit losses and the amount of its allowances for bad debts is in accordance with this guidance in all material respects.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected:


	2021		2020
Beginning Balance, October 1	$	8,787	$	8,178
Provision for expected credit losses	1,039		499
Amounts written off charged against the allowance	(4)		(42)
Other, primarily foreign currency translation	(35)		64
Ending Balance, December 31	$	9,787	$	8,699

GOODWILL AND OTHER INTANGIBLES

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

The following table provides changes in the carrying value of goodwill by segment during the quarter ended December 31, 2021:


	At September 30, 2021		Foreign currency translations adjustments		At December 31, 2021
Consumer and Professional Products	$	234,895	$	535	$	235,430
Home and Building Products	191,253		—		191,253


Total	$	426,148	$	535	$	426,683

The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets:


	At December 31, 2021					At September 30, 2021
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	187,409	$	77,939	23	$	187,732	$	75,794
Technology and patents	13,429		2,569		13	13,429		2,439
Total amortizable intangible assets	200,838		80,508			201,161		78,233
Trademarks	226,472		—			227,097		—
Total intangible assets	$	427,310	$	80,508		$	428,258	$	78,233

The gross carrying amount of intangible assets was impacted by approximately $800 related to foreign currency translation.

Amortization expense for intangible assets was $2,387 and $2,352 for the quarters ended December 31, 2021 and 2020, respectively. Amortization expense for the remainder of 2022 and the next five fiscal years and thereafter, based on current intangible balances and classifications, is estimated as follows: 2022 - $7,348; 2023 - $9,600; 2024 - $9,600; 2025 - $9,600; 2026 - $9,600; 2027 - $9,600; thereafter $64,982.

During the three months ended December 31, 2021, the Company determined that there were no triggering events and, as a result, there was no impairment to either its goodwill or indefinite-lived intangible assets at December 31, 2021.

INCOME TAXES	3 Months Ended
INCOME TAXES	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESDuring the quarter ended December 31, 2021, the Company recognized a tax provision of $7,318 on income before taxes from continuing operations of $24,223, compared to a tax provision of $11,708 on income before taxes from continuing operations of $37,138 in the comparable prior year quarter. The current year quarter results included restructuring charges of $1,716 ($1,330, net of tax), acquisition costs of $2,595 ($2,003, net of tax), proxy contest costs of $2,291 ($1,768, net of tax) and discrete and certain other tax benefits, net, that affect comparability of $881. The prior year quarter results included restructuring charges of $3,079 ($2,301, net of tax) and discrete and certain other tax benefits, net, that affect comparability of $1,048. Excluding these items, the effective tax rates for the quarters ended December 31, 2021 and 2020 were 31.5% and 33.7%, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

LONG-TERM DEBT

3 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

LONG-TERM DEBT


		At December 31, 2021										At September 30, 2021
		Outstanding Balance		Original Issuer Premium		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate			Outstanding Balance		Original Issuer Premium		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate
Senior notes due 2028	(a)	$	1,000,000	$	302	(12,775)		$	987,527	5.75	%		$	1,000,000	$	315	$	(13,293)	$	987,022	5.75	%

Revolver due 2025	(b)	19,859		—		(1,595)		18,264		Variable			13,483		—		(1,718)		11,765		Variable



Finance lease - real estate	(c)	14,083		—		—		14,083		Variable			14,594		—		(4)		14,590		Variable
Non US lines of credit	(d)	6,533		—		(13)		6,520		Variable			3,012		—		(17)		2,995		Variable
Non US term loans	(d)	23,761		—		(71)		23,690		Variable			25,684		—		(91)		25,593		Variable
Other long term debt	(e)	3,360		—		(14)		3,346		Variable			3,733		—		(15)		3,718		Variable
Totals		1,067,596		302		(14,468)		1,053,430					1,060,506		315		(15,138)		1,045,683
less: Current portion		(15,675)		—		—		(15,675)					(12,486)		—		—		(12,486)
Long-term debt		$	1,051,921	$	302	$	(14,468)	$	1,037,755				$	1,048,020	$	315	$	(15,138)	$	1,033,197


		Three Months Ended December 31, 2021								Three Months Ended December 31, 2020
		Effective Interest Rate		Cash Interest		Amort. Debt Premium		Amort. Debt Issuance Costs & Other Fees			Total Interest Expense		Effective Interest Rate		Cash Interest		Amort. Debt Premium		Amort. Debt Issuance Costs & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.9	%	$	14,375	$	(12)	$	518		$	14,881	5.9	%	$	14,375	$	—	$	530	$	14,905

Revolver due 2025	(b)	Variable		261		—		122			383		Variable		129		—		123		252



Finance lease - real estate	(c)	5.6	%	198		—		4			202		4.8	%	232		—		6		238
Non US lines of credit	(d)	Variable		3		—		4			7		Variable		3		—		4		7
Non US term loans	(d)	Variable		166		—		17			183		Variable		171		—		17		188
Other long term debt	(e)	Variable		97		—		1			98		Variable		107		—		—		107
Capitalized interest				(73)		—		—			(73)				(7)		—		—		(7)
Totals				$	15,027	$	(12)	$	666		$	15,681			$	15,010	$	—	$	680	$	15,690

(a) During 2020, Griffon issued, at par, $1,000,000 of 5.75% Senior Notes due in 2028 (the “2028 Senior Notes”). Proceeds from the 2028 Senior Notes were used to redeem the $1,000,000 of 5.25% Senior Notes due 2022. As of December 31, 2021, outstanding Senior Notes due totaled $1,000,000; interest is payable semi-annually on March 1 and September 1.

The Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. The Senior Notes were registered under the Securities Act of 1933, as amended (the "Securities Act") via an exchange offer. The fair value of the Senior Notes approximated $1,037,500 on December 31, 2021 based upon quoted market prices (level 1 inputs). In connection with these transactions, Griffon capitalized $16,448 of underwriting fees and other expenses incurred related to the issuance and exchange of the 2028 Senior Notes, which is being amortized over the term of such notes, and at December 31, 2021, $12,775 remained to be amortized.

(b) On December 9, 2021, Griffon amended its revolving credit facility (as amended, the "Credit Agreement") to replace the GBP LIBOR benchmark rate with Sterling Overnight Index Average ("SONIA"). The Credit Agreement's maximum borrowing availability is $400,000 and the revolving credit facility matures on March 22, 2025. The facility includes a letter of credit sub-facility with a limit of $100,000; a multi-currency sub-facility of $200,000; and contains a customary accordion feature that permits us to request, subject to each lender's consent, an increase in the maximum aggregate amount that can be borrowed by up to an additional $100,000.

Borrowings under the Credit Agreement may be repaid and re-borrowed at any time. Interest is payable on borrowings at either a LIBOR, SONIA or base rate benchmark rate, plus an applicable margin, which adjusts based on financial performance. Current margins are 0.50% for base rate loans, 1.50% for LIBOR loans and 1.50% for SONIA loans. The Credit Agreement has certain financial maintenance tests including a maximum total leverage ratio, a maximum senior secured leverage ratio and a minimum interest coverage ratio, as well as customary affirmative and negative covenants, and events of default. The negative covenants place limits on Griffon's ability to, among other things, incur indebtedness, incur liens, and make restricted payments and investments. Borrowings under the Credit Agreement are guaranteed by Griffon’s material domestic subsidiaries and are secured, on a first priority basis, by substantially all domestic assets of the Company and the guarantors, and a pledge of not greater than 65% of the equity interest in Griffon’s material, first-tier foreign subsidiaries. At December 31, 2021, there were $19,859 of outstanding borrowings under the Credit Agreement; outstanding standby letters of credit were $15,508; and $364,633 was available, subject to certain loan covenants, for borrowing at that date.

(c) Griffon has one finance lease outstanding for real estate located in Ocala, Florida. The lease matures in 2025, and bears interest at a fixed rate of approximately 5.6%. During the period ended December 31, 2021, the financing lease on the Troy, Ohio location expired. The lease bore interest at a rate of approximately 5.0%, was secured by a mortgage on the real estate, which was guaranteed by Griffon, and had a one dollar buyout at the end of the lease. Griffon exercised the one dollar buy out option in November 2021. The Ocala, Florida lease contains two five-year renewal options. At December 31, 2021, $14,083 was outstanding, net of issuance costs. Refer to Note 21- Leases for further details.

(d) In November 2012, Garant G.P. (“Garant”), a Griffon wholly owned subsidiary, entered into a CAD 15,000 ($11,708 as of December 31, 2021) revolving credit facility. The facility accrues interest at LIBOR (USD) or the Bankers Acceptance Rate (CDN) plus 1.3% per annum (1.40% LIBOR USD and 1.53% Bankers Acceptance Rate CDN as of December 31, 2021). The revolving facility matures in October 2022. Garant is required to maintain a certain minimum equity. At December 31, 2021, there were no outstanding borrowings under the revolving credit facility with CAD 15,000 ($11,708 as of December 31, 2021) available.

In July 2016, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries (collectively, "Griffon Australia") entered into an AUD 29,625 term loan, AUD 20,000 revolver and AUD 10,000 receivable purchase facility agreement. The term loan requires quarterly principal payments of AUD 1,250 plus interest with a balloon payment of AUD 9,625 due upon maturity in March 2022, and accrues interest at Bank Bill Swap Bid Rate “BBSY” plus 1.95% per annum (2.02% at December 31, 2021). During fiscal 2020, the term loan balance was reduced by AUD 5,000, from AUD 23,375 to AUD 18,375 with proceeds from an AUD 5,000 increase in the commitment of the receivables purchase line

from AUD 10,000 to AUD 15,000. As of December 31, 2021, the term loan had an outstanding balance of AUD 9,625 ($6,965 as of December 31, 2021). The revolving facility and receivable purchase facility mature in March 2022, but are renewable upon mutual agreement with the lender. The revolving facility and receivable purchase facility accrue interest at BBSY plus 1.9% and 1.35%, respectively, per annum (2.01% and 1.42%, respectively, at December 31, 2021). At December 31, 2021, there were no balances outstanding under the revolver and the receivable purchase facility. The revolver, receivable purchase facility and the term loan are all secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level and is subject to a maximum leverage ratio and a minimum fixed charges cover ratio.

In July 2018, The AMES Companies UK Ltd and its subsidiaries (collectively, "AMES UK") entered into a GBP 14,000 term loan, GBP 4,000 mortgage loan and GBP 5,000 revolver. The term loan and mortgage loan require quarterly principal payments of GBP 438 and GBP 105 plus interest, respectively, and have balloon payments due upon maturity, July 2023, of GBP 7,088 and GBP 2,349, respectively. The Term Loan and Mortgage Loans each accrue interest at the GBP LIBOR Rate plus 1.80% ( 1.99% at December 31, 2021). Effective, in January 2022, the Term Loan and Mortgage Loan were amended to replace GBP LIBOR with SONIA. The revolving facility accrues interest at the Bank of England Base Rate plus 3.25% (3.50% as of December 31, 2021) and was renewed in June 2021. The revolving credit facility matures in April 2022, but it is renewable upon mutual agreement with the lender. As of December 31, 2021, the revolver had an outstanding balance of GBP 4,935 ($6,533 as of December 31, 2021) while the term and mortgage loan balances amounted to GBP 12,687 ($16,796 as of December 31, 2021). The revolver and the term loan are both secured by substantially all of the assets of AMES UK and its subsidiaries. AMES UK is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. An invoice discounting arrangement was canceled and replaced by the above loan facilities.

(e) Other long-term debt primarily consists of a loan with the Pennsylvania Industrial Development Authority, with the balance consisting of finance leases.

Additionally, on January 24, 2022, in connection with the Hunter acquisition, Griffon amended and restated the Credit Agreement to provide for a new $800,000 seven year Term Loan B facility with initial pricing of the Secured Overnight Financing Rate floor of 50 basis points plus a spread of 275 basis points, for a total initial interest rate of 325 basis points. The Original Issue Discount was 99.75%. Additionally, there are “step-down” features for the rate tied to achieving lower leverage ratio levels. The Term Loan B facility requires quarterly payments equal to 0.25% of the outstanding principal amount, with a balloon payment due at maturity. Term Loan B borrowings may generally be repaid without penalty but may not be reborrowed. The Term Loan B facility is subject to the same affirmative and negative covenants that apply to the revolving credit facility, but is not subject to any financial maintenance tests. Term Loan B borrowings are secured by the same collateral package as borrowings under the revolving credit facility.

At December 31, 2021, Griffon and its subsidiaries were in compliance with the terms and covenants of all credit and loan agreements.

SHAREHOLDERS' EQUITY

3 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

During the three months ended December 31, 2021, the Company paid a quarterly cash dividend of $0.09 per share. During 2021, the Company paid a quarterly cash dividend of $0.08 per share, totaling $0.32 per share for the year. A dividend payable was established for the holders of restricted shares; such dividends will be released upon vesting of the underlying restricted shares.

On January 31, 2022, the Board of Directors declared a quarterly cash dividend of $0.09 per share, payable on March 23, 2022 to shareholders of record as of the close of business on February 23, 2022.

On January 29, 2016, shareholders approved the Griffon Corporation 2016 Equity Incentive Plan ("Incentive Plan") under which awards of performance shares, performance units, stock options, stock appreciation rights, restricted shares, restricted stock units, deferred shares and other stock-based awards may be granted. On January 31, 2018, shareholders approved Amendment No. 1 to the Incentive Plan pursuant to which, among other things, 1,000,000 shares were added to the Incentive

Plan; and on January 30, 2020, shareholders approved Amendment No. 2 to the Incentive Plan, pursuant to which 1,700,000 shares were added to the Incentive Plan. A proposal to approve an Amended and Restated 2016 Equity Incentive Plan which includes, among other things, the addition of 1,200,000 shares to the Incentive Plan, is included in Griffon’s Proxy Statement dated December 30, 2021 related to the 2022 Annual Meeting of Shareholders, scheduled to be held on February 17, 2022. If shareholders approve this proposal, 1,200,000 shares will be added to the Incentive Plan as of the date of the 2022 Annual Meeting of Shareholders. Options granted under the Incentive Plan may be either “incentive stock options” or nonqualified stock options, generally expire ten years after the date of grant and are granted at an exercise price of not less than 100% of the fair market value at the date of grant. The maximum number of shares of common stock available for award under the Incentive Plan is 5,050,000 (600,000 of which may be issued as incentive stock options), plus (i) any shares reserved for issuance under the 2011 Equity Incentive Plan as of the effective date of the Incentive Plan, and (ii) any shares underlying awards outstanding on such effective date under the 2011 Incentive Plan that are canceled or forfeited. As of December 31, 2021, there were 378,905 shares available for grant.

Compensation expense for restricted stock and restricted stock units is recognized ratably over the required service period based on the fair value of the grant, calculated as the number of shares granted multiplied by the stock price on the date of grant and, for performance shares, the likelihood of achieving the performance criteria. Compensation expense for restricted stock granted to two senior executives is calculated as the maximum number of shares granted, upon achieving certain performance criteria, multiplied by the stock price as valued by a Monte Carlo Simulation Model. Compensation cost related to stock-based awards with graded vesting, generally over a period of three to four years, is recognized using the straight-line attribution method and recorded within SG&A expenses.

During the first quarter of 2021, Griffon granted 236,973 shares of restricted stock and restricted stock units. This included 218,162 restricted stock and restricted stock units, subject to certain performance conditions, with vesting periods of three years, with a total fair value of $6,285, or a weighted average fair value of $28.81 per share. Furthermore, this included an 18,811 restricted stock award granted to one executive, with a vesting period of three years and a total fair value of $507 or a weighted average fair value of $26.97 per share.

The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:


	For the Three Months Ended December 31,
		2021		2020
Restricted stock		$	3,890	$	3,428
ESOP		977		780
Total stock based compensation		$	4,867	$	4,208

On each of August 3, 2016 and August 1, 2018, Griffon’s Board of Directors authorized the repurchase of up to $50,000 of Griffon’s outstanding common stock. Under this share repurchase program, the Company may purchase shares in the open market, including pursuant to a 10b5-1 plan, or in privately negotiated transactions. During the three months ended December 31, 2021, Griffon did not purchase any shares of common stock under these repurchase programs. As of December 31, 2021, an aggregate of $57,955 remains under Griffon's Board authorized repurchase programs.

During the three months ended December 31, 2021, 421,860 shares, with a market value of $10,742, or $25.46 per share were withheld to settle employee taxes due upon the vesting of restricted stock, and were added to treasury stock. Furthermore, during the three months ended December 31, 2021, an additional 5,480 shares, with a market value of $144, or $26.31 per share, were withheld from common stock issued upon the vesting of restricted stock units to settle employee taxes due upon vesting.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

EARNINGS PER SHARE (EPS)

3 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

Basic EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding plus additional common shares that could be issued in connection with stock based compensation.

The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share:


	Three Months Ended December 31,
		2021	2020
Common shares outstanding		56,304	56,490
Unallocated ESOP shares		(1,816)	(2,010)
Non-vested restricted stock		(2,869)	(3,687)
Impact of weighted average shares		(441)	(197)
Weighted average shares outstanding - basic		51,178	50,596
Incremental shares from stock based compensation		2,575	2,596
Weighted average shares outstanding - diluted		53,753	53,192

BUSINESS SEGMENTS

3 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENTS

Griffon reports its operations through two reportable segments, as follows:

•Consumer and Professional Products (“CPP”) is a leading North American manufacturer and a global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid.

•Home and Building Products ("HBP") conducts its operations through Clopay. Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America. Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the CornellCookson brand.

On September 27, 2021, Griffon announced it is exploring strategic alternatives for its Defense Electronics segment, which conducts its operations through Telephonics Corporation ("Telephonics"), including a sale. As a result, Griffon classified the results of operations of the Telephonics business as a discontinued operation in the Consolidated Statements of Operations for all periods presented and classified the related assets and liabilities associated with the discontinued operation as held for sale in the Consolidated Balance Sheets. Accordingly, all references made to results and information in this Quarterly Report on Form 10-Q are to Griffon's continuing operations, unless specifically noted. Telephonics, founded in 1933, is a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions that are deployed across a wide range of land, sea and air applications. Telephonics designs, develops, manufactures and provides logistical support and lifecycle sustainment services to defense, aerospace and commercial customers worldwide.

Information on Griffon’s reportable segments from continuing operations is as follows:


	For the Three Months Ended December 31,
REVENUE		2021		2020
Consumer and Professional Products		$	283,173	$	291,042
Home and Building Products		308,576		250,481
Defense Electronics		53,993		67,768
Subtotal		645,742		609,291
Less: Defense Electronics		(53,993)		(67,768)
Total revenue		$	591,749	$	541,523

Disaggregation of Revenue

Revenue from contracts with customers is disaggregated by end markets, segments and geographic location, as it more accurately depicts the nature and amount of the Company’s revenue. The following table presents revenue disaggregated by end market and segment:


	For the Three Months Ended December 31,
		2021		2020
Residential repair and remodel		$	38,759	$	45,600
Retail		130,235		139,248
Residential new construction		10,327		13,515
Industrial		11,306		9,531
International excluding North America		92,546		83,148
Total Consumer and Professional Products		283,173		291,042
Residential repair and remodel		145,085		126,115
Commercial construction		130,789		95,939
Residential new construction		32,702		28,427
Total Home and Building Products		308,576		250,481




Total Consolidated Revenue		$	591,749	$	541,523

The following table presents revenue disaggregated by geography based on the location of the Company's customer:



	For the Three Months Ended December 31,
	2021						2020
	CPP		HBP		Total			CPP		HBP		Total
United States	$	164,899	$	294,576	$	459,475		$	183,442	$	236,531	$	419,973
Europe	18,330		37		18,367			13,156		—		13,156
Canada	22,628		12,013		34,641			22,115		11,488		33,603
Australia	74,349		—		74,349			69,540		—		69,540
All other countries	2,967		1,950		4,917			2,789		2,462		5,251
Consolidated revenue	$	283,173	$	308,576	$	591,749		$	291,042	$	250,481	$	541,523

Griffon evaluates performance and allocates resources based on each segment's operating results before interest income and expense, income taxes, depreciation and amortization, unallocated amounts (mainly corporate overhead), restructuring charges, loss from debt extinguishment and acquisition related expenses, as well as other items that may affect comparability, as applicable (“Segment adjusted EBITDA”). Griffon believes this information is useful to investors for the same reason. The following table provides a reconciliation of Segment adjusted EBITDA to Income before taxes from continuing operations:


	For the Three Months Ended December 31,
		2021		2020
Segment adjusted EBITDA:
Consumer and Professional Products		$	16,214	$	32,713
Home and Building Products		56,297		48,369
Defense Electronics		4,472		5,585
Subtotal		76,983		86,667
Less: Defense Electronics		(4,472)		(5,585)
Segment adjusted EBITDA		72,511		81,082
Unallocated amounts, excluding depreciation *		(12,957)		(12,629)
Adjusted EBITDA		59,554		68,453
Net interest expense		(15,648)		(15,646)
Depreciation and amortization		(13,081)		(12,590)


Restructuring charges		(1,716)		(3,079)
Acquisition costs		(2,595)		—

Proxy contest costs		(2,291)		—

Income before taxes from continuing operations		$	24,223	$	37,138

* Unallocated amounts typically include general corporate expenses not attributable to a reportable segment.


	For the Three Months Ended December 31,
DEPRECIATION and AMORTIZATION		2021		2020
Segment:
Consumer and Professional Products		$	8,606	$	8,199
Home and Building Products		4,338		4,341
Defense Electronics		—		2,676
Subtotal		12,944		15,216
Less: Defense Electronics		—		(2,676)
Total segment depreciation and amortization		12,944		12,540
Corporate		137		50
Total consolidated depreciation and amortization		$	13,081	$	12,590

CAPITAL EXPENDITURES
Segment:
Consumer and Professional Products		$	7,130	$	6,907
Home and Building Products		3,349		2,115
Defense Electronics		853		2,904
Subtotal		11,332		11,926
Less: Defense Electronics		(853)		(2,904)
Total segment		10,479		9,022
Corporate		94		—
Total consolidated capital expenditures		$	10,573	$	9,022


ASSETS	At December 31, 2021		At September 30, 2021
Segment assets:
Consumer and Professional Products	$	1,443,527	$	1,377,618
Home and Building Products	686,009		666,422

Total segment assets	2,129,536		2,044,040
Corporate	187,735		283,202
Total continuing assets	2,317,271		2,327,242
Discontinued operations - held for sale	261,514		273,414
Other discontinued operations	3,958		4,029
Consolidated total	$	2,582,743	$	2,604,685

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

EMPLOYEE BENEFIT PLANS

3 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Defined benefit pension expense (income) included in Other Income (Expense), net was as follows:


	Three Months Ended December 31,
		2021		2020

Interest cost		$	796	$	744
Expected return on plan assets		(2,589)		(2,544)
Amortization:

Recognized actuarial loss		845		1,573

Net periodic expense (income)		$	(948)	$	(227)

- Definition

The entire disclosure for retirement benefits.

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+ Details

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Dec. 31, 2021
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Issued but not yet effective accounting pronouncements In October 2021, the Financial Accounting Standards Board ("FASB") issued ASU No. 2021-08, Business Combinations (Topic 805); Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This new guidance affects all entities that enter into a business combination within the scope of ASC 805-10. Under this new guidance, the acquirer should determine what contract assets and/or liabilities it would have recorded under ASC 606 (Revenue Guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquirer. Under current U.S. GAAP, contract assets and contract liabilities acquired in a business combination are recorded by the acquirer at fair value. This update is effective for the Company beginning in fiscal 2023. Early adoption is permitted. New Accounting Standards Implemented In December 2019, the FASB issued guidance on simplifying the accounting for income taxes by clarifying and amending existing guidance related to the recognition of franchise tax, the evaluation of a step up in the tax basis of goodwill, and the effects of enacted changes in tax laws or rates in the effective tax rate computation, among other clarifications. This guidance became effective for the Company beginning in fiscal 2022. We adopted the recognition of non-income taxes on the modified retrospective basis. Adoption of this standard did not have a material impact on our consolidated financial statements and the related disclosures. In August 2018, the FASB issued guidance to clarify disclosure requirements related to defined benefit pension and other post-retirement plans. The guidance is effective for fiscal years beginning after December 15, 2020, with early adoption permitted, and was effective for the Company in our fiscal year beginning in October 1, 2021. Adoption of this standard did not have a material impact on our consolidated financial statements and the related disclosures. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements, and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

DISCONTINUED OPERATIONS

3 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

In accordance with ASC 205-20 Presentation of Financial Statements: Discontinued Operations, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the component of an entity meets the criteria in paragraph 205-20-45-10. In the period in which the component meets held-for-sale or discontinued operations criteria, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations.

Defense Electronics (DE or Telephonics)

The following amounts related to Telephonics have been segregated from Griffon's continuing operations and are reported as a discontinued operation:


	For the Quarter Ended December 31,
	2021		2020
Revenue	$	53,993	$	67,768
Cost of goods and services	40,961		62,101
Gross profit	13,032		5,667
Selling, general and administrative expenses	10,020		9,942


Income (loss) from discontinued operations	3,012		(4,275)
Other income (expense)


Gain on sale of business	—		6,240
Other, net	2		66
Total other income (expense)	2		6,306
Income from discontinued operations before taxes	$	3,014	$	2,031
Provision (benefit) for income taxes	621		(2,039)
Income from discontinued operations	$	2,393	$	4,070

During the three months ended December 31, 2021, Income from discontinued operations includes $1,792 of costs associated with consulting and stay bonuses. Depreciation and amortization was excluded from the current year results since DE is classified as a discontinued operation and, accordingly, the Company ceased depreciation and amortization in accordance with discontinued operations accounting guidelines. Depreciation and amortization would have been approximately $2,700 in the quarter ended December 31, 2021.

The gain on sale of business relates to the divestiture of the SEG business on December 18, 2020; SEG had sales of $6,713 in the quarter ended December 31, 2020.

In September 2020, a Voluntary Employee Retirement Plan was initiated, which was subsequently followed by a reduction in force in November 2020, to improve efficiencies by combining functions and responsibilities. The reduction in force initiative resulted in severance charges of approximately $2,200, recorded in the first quarter ended December 31, 2020. These actions reduced headcount by approximately 90 people.

Income from discontinued operations includes charges of $5,601 recorded in fiscal 2021 primarily related to exiting older weather radar product lines.

The following amounts related to Telephonics have been segregated from Griffon's continuing operations and are reported as assets and liabilities of discontinued operations held for sale in the consolidated balance sheets:


	At December 31,		At September 30,
	2021		2021
CURRENT ASSETS

Accounts receivable, net	32,642		42,020
Contract assets, net of progress payments	69,043		72,983
Inventories	84,796		83,970
Prepaid and other current assets	4,363		4,409
PROPERTY, PLANT AND EQUIPMENT, net	46,205		45,371
OPERATING LEASE RIGHT-OF-USE ASSETS	1,167		1,167
GOODWILL	17,734		17,734
INTANGIBLE ASSETS, net	131		131
OTHER ASSETS	5,433		5,629
Total Assets Held for Sale	$	261,514	$	273,414
CURRENT LIABILITIES

Accounts payable	55,661		60,486
Accrued liabilities	15,547		15,153
Current portion of operating lease liabilities	221		287

LONG-TERM OPERATING LEASE LIABILITIES	817		867
OTHER LIABILITIES	2,010		3,955
Total Liabilities Held for Sale	$	74,256	$	80,748

Installation Services and Other Discontinued Activities

The following amounts summarize the total assets and liabilities related to the Installation Services and other discontinued activities which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations in the Condensed Consolidated Balance Sheets:


	At December 31, 2021		At September 30, 2021
Assets of discontinued operations:
Prepaid and other current assets	$	583	$	605
Other long-term assets	3,375		3,424
Total assets of discontinued operations	$	3,958	$	4,029

Liabilities of discontinued operations:
Accrued liabilities, current	$	3,095	$	3,280
Other long-term liabilities	3,740		3,794
Total liabilities of discontinued operations	$	6,835	$	7,074

At December 31, 2021 and September 30, 2021, Griffon’s liabilities for Installations Services and other discontinued operations primarily related to insurance claims, warranty and environmental reserves totaling liabilities of approximately $6,835 and $7,074, respectively.

There was no reported revenue in the quarters ended December 31 2021 and 2020.

RESTRUCTURING CHARGES

3 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

In November 2019, Griffon announced the development of a next-generation business platform for CPP to enhance the growth, efficiency, and competitiveness of its U.S. operations, and on November 12, 2020, Griffon announced that CPP is broadening this strategic initiative to include additional North American facilities, the AMES UK and Australia businesses, and a manufacturing facility in China.

This initiative includes three key development areas. First, certain AMES U.S. and global operations will be consolidated to optimize facilities footprint and talent. Second, strategic investments in automation and facilities expansion will be made to increase the efficiency of our manufacturing and fulfillment operations, and support e-commerce growth. Third, multiple independent information systems will be unified into a single data and analytics platform, which will serve the whole AMES global enterprise.

We continue to expect the roll-out of the new business platform for our AMES U.S. and global operations to be completed by the end of calendar year 2023. When fully implemented, we expect these actions will result in AMES' EBITDA margins improving to 12% plus, excluding the impact of Hunter, with annual cash savings of $30,000 to $35,000 and a reduction in inventory of $30,000 to $35,000, based on fiscal 2020 operating levels.

The cost to implement this new business platform, over the duration of the project, will include one-time charges of approximately $65,000 and capital investments of approximately $65,000. The one-time charges are comprised of $46,000 of cash charges, which includes $26,000 of personnel-related costs such as training, severance, and duplicate personnel costs as well as $20,000 of facility and lease exit costs. The remaining $19,000 of charges are non-cash and are primarily related to asset write-downs.

During the quarters ended December 31, 2021 and 2020, CPP incurred pre-tax restructuring and related exit costs approximating $1,716 and $3,079, respectively. During the quarter ended December 31, 2021, cash charges totaled $1,427 and non-cash, asset-related charges totaled $289; the cash charges included $260 for one-time termination benefits and other personnel-related costs and $1,167 for facility exit costs. During the quarter ended December 31, 2020, cash charges totaled $2,886 and non-cash and asset-related charges totaled $193; the cash charges included $362 for one-time termination benefits and other personnel-related costs and $2,524 for facility exit costs. During the quarter ended December 31, 2021, there was no headcount reduction.

A summary of the restructuring and other related charges included in Cost of goods and services and SG&A expenses in the Company's Condensed Consolidated Statements of Operations were as follows:


	For the Three Months Ended December 31,
		2021		2020
Cost of goods and services		$	322	$	541
Selling, general and administrative expenses		1,394		2,538
Total restructuring charges		$	1,716	$	3,079


	For the Three Months Ended December 31,
		2021		2020
Personnel related costs		$	260	$	362
Facilities, exit costs and other		1,167		2,524

Non-cash facility and other		289		193
Total		$	1,716	$	3,079

The following table summarizes the accrued liabilities of the Company's restructuring actions:


	Cash Charges				Non-Cash
	Personnel related costs		Facilities & Exit Costs		Facility and Other Costs		Total
Accrued liability at September 30, 2021	$	418	$	264	$	—	$	682
Q1 Restructuring charges	260		1,167		289		1,716
Q1 Cash payments	(275)		(1,167)		—		(1,442)
Q1 Non-cash charges	—		—		(289)		(289)
Accrued liability at December 31, 2021	$	403	$	264	$	—	$	667

OTHER INCOME (EXPENSE)	3 Months Ended
OTHER INCOME (EXPENSE)	Dec. 31, 2021
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE)	OTHER INCOME (EXPENSE) For the quarters ended December 31, 2021 and 2020, Other income (expense) of $1,381 and $357, respectively, includes $394 and $699, respectively, of net currency exchange losses in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries, net periodic benefit plan income of $948 and $227, respectively, as well as $93 and $330, respectively, of net investment income. Other income (expense) also includes rental income of $462 in each of the three months ended December 31, 2021 and 2020.

WARRANTY LIABILITY

3 Months Ended

Dec. 31, 2021

Product Warranties Disclosures [Abstract]

WARRANTY LIABILITY

CPP and HBP offer warranties against product defects for periods generally ranging from one to ten years, with limited lifetime warranties on certain door models. Typical warranties require CPP and HBP to repair or replace the defective products during the warranty period at no cost to the customer. At the time revenue is recognized, Griffon records a liability for warranty costs, estimated based on historical experience, and periodically assesses its warranty obligations and adjusts the liability as necessary. CPP offers an express limited warranty for a period of ninety days on all products from the date of original purchase unless otherwise stated on the product or packaging from the date of original purchase.

Changes in Griffon’s warranty liability, included in Accrued liabilities, were as follows:


	Three Months Ended December 31,
		2021		2020
Balance, beginning of period		$	7,818	$	6,268
Warranties issued and changes in estimated pre-existing warranties		3,461		3,576
Actual warranty costs incurred		(1,707)		(3,612)

Balance, end of period		$	9,572	$	6,232

OTHER COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Dec. 31, 2021

OCI, Net of Tax [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

The amounts recognized in other comprehensive income (loss) were as follows:


	For the Three Months Ended December31,
	2021						2020

	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Foreign currency translation adjustments	$	(2,319)	$	—	$	(2,319)	$	12,123	$	—	$	12,123
Pension and other defined benefit plans	846		(178)		668		2,150		(444)		1,706
Cash flow hedges	(1,571)		471		(1,100)		(983)		295		(688)

Total other comprehensive income (loss)	$	(3,044)	$	293	$	(2,751)	$	13,290	$	(149)	$	13,141

The components of Accumulated other comprehensive income (loss) are as follows:


	At December 31, 2021		At September 30, 2021
Foreign currency translation adjustments	$	(21,569)	$	(19,250)
Pension and other defined benefit plans	(28,134)		(28,802)
Change in Cash flow hedges	975		2,075

	$	(48,728)	$	(45,977)

Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows:


	For the Three Months Ended December 31,
Gain (Loss)		2021		2020


Pension amortization		$	(845)	$	(1,573)
Cash flow hedges		1,533		(658)

Total gain (loss)		688		(2,231)
Tax benefit (expense)		(144)		469
Total		$	544	$	(1,762)

LEASES

3 Months Ended

Dec. 31, 2021

Leases [Abstract]

LEASES

The Company recognizes right-of-use ("ROU") assets and lease liabilities on the balance sheet, with the exception of leases with a term of twelve months or less. The Company determines if an arrangement is a lease at inception. The ROU assets and short and long-term liabilities associated with our Operating leases are shown as separate line items on our Condensed Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, net, other accrued liabilities, and other non-current liabilities. The Company's finance leases are immaterial. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments primarily include rent and insurance costs (lease components). The Company's leases also include non-lease components such as real estate taxes and common-area maintenance costs. The Company elected the practical expedient to account for lease and non-lease components as a single component. In certain of the Company's leases, the non-lease components are variable and in accordance with the standard are therefore excluded from lease payments to determine the ROU asset. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of

lease payments. We use the implicit rate when readily determinable. Our determination of the lease term may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less (a "Short-term" lease), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets.Variable lease cost for both operating and finance leases, if any, is recognized as incurred. Components of operating lease costs are as follows:


	For the Three Months Ended December 31,
		2021		2020
Fixed		$	9,747	$	9,491
Variable (a), (b)		1,852		1,894
Short-term (b)		1,349		1,070
Total		$	12,948	$	12,455

(a) Primarily relates to common-area maintenance and property taxes.

(b) Not recorded on the balance sheet.

Supplemental cash flow information were as follows:


	For the Three Months Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,844	$	10,609
Financing cash flows from finance leases	753		803
Total	$	11,597	$	11,412

Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows:


	December 31, 2021		September 30, 2021
Operating Leases:
Right of use assets:
Operating right-of-use assets	$	141,406	$	144,598

Lease Liabilities:
Current portion of operating lease liabilities	$	28,932	$	29,881
Long-term operating lease liabilities	117,189		119,315
Total operating lease liabilities	$	146,121	$	149,196

Finance Leases:
Property, plant and equipment, net(1)	$	15,719	$	16,466

Lease Liabilities:
Notes payable and current portion of long-term debt	$	2,359	$	2,347
Long-term debt, net	13,569		14,120
Total financing lease liabilities	$	15,928	$	16,467

(1) Finance lease assets are recorded net of accumulated depreciation of $3,961 and $6,136 as of December 31, 2021 and September 30, 2021, respectively.

Griffon has one finance lease outstanding for real estate located in Ocala, Florida. The lease matures in 2025, and bears interest at a fixed rate of approximately 5.6%. During the period ended December 31, 2021, the financing lease on the Troy, Ohio location expired. The lease bore interest at a rate of approximately 5.0%, was secured by a mortgage on the real estate, which was guaranteed by Griffon, and had a one dollar buyout at the end of the lease. Griffon exercised the one dollar buy out option in November 2021. The Ocala, Florida lease contains two five-year renewal options. At December 31, 2021, $14,083 was outstanding, net of issuance costs.

The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2021 are as follows (in thousands):


	Operating Leases		Finance Leases
2022(a)	$	26,927	$	2,362
2023	29,265		2,876
2024	22,123		2,312
2025	19,790		2,124
2026	13,554		2,106
2027	10,766		2,074
Thereafter	54,382		5,703
Total lease payments	176,807		19,557
Less: Imputed Interest	(30,686)		(3,629)
Present value of lease liabilities	$	146,121	$	15,928

(a) Excluding the three months ended December 31, 2021.

Average lease terms and discount rates at December 31, 2021 were as follows:


Weighted-average remaining lease term (years)
Operating leases	8.0
Finance Leases	7.9

Weighted-average discount rate
Operating Leases	4.45	%
Finance Leases	5.49	%

LEASES


	For the Three Months Ended December 31,
		2021		2020
Fixed		$	9,747	$	9,491
Variable (a), (b)		1,852		1,894
Short-term (b)		1,349		1,070
Total		$	12,948	$	12,455

(a) Primarily relates to common-area maintenance and property taxes.

(b) Not recorded on the balance sheet.

Supplemental cash flow information were as follows:


	For the Three Months Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,844	$	10,609
Financing cash flows from finance leases	753		803
Total	$	11,597	$	11,412

Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows:


	December 31, 2021		September 30, 2021
Operating Leases:
Right of use assets:
Operating right-of-use assets	$	141,406	$	144,598

Lease Liabilities:
Current portion of operating lease liabilities	$	28,932	$	29,881
Long-term operating lease liabilities	117,189		119,315
Total operating lease liabilities	$	146,121	$	149,196

Finance Leases:
Property, plant and equipment, net(1)	$	15,719	$	16,466

Lease Liabilities:
Notes payable and current portion of long-term debt	$	2,359	$	2,347
Long-term debt, net	13,569		14,120
Total financing lease liabilities	$	15,928	$	16,467

(1) Finance lease assets are recorded net of accumulated depreciation of $3,961 and $6,136 as of December 31, 2021 and September 30, 2021, respectively.

The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2021 are as follows (in thousands):


	Operating Leases		Finance Leases
2022(a)	$	26,927	$	2,362
2023	29,265		2,876
2024	22,123		2,312
2025	19,790		2,124
2026	13,554		2,106
2027	10,766		2,074
Thereafter	54,382		5,703
Total lease payments	176,807		19,557
Less: Imputed Interest	(30,686)		(3,629)
Present value of lease liabilities	$	146,121	$	15,928

(a) Excluding the three months ended December 31, 2021.

Average lease terms and discount rates at December 31, 2021 were as follows:


Weighted-average remaining lease term (years)
Operating leases	8.0
Finance Leases	7.9

Weighted-average discount rate
Operating Leases	4.45	%
Finance Leases	5.49	%

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal and environmental Peekskill Site. Lightron Corporation (“Lightron”), a wholly-owned subsidiary of Griffon, once conducted operations at a location in the Town of Cortlandt, New York, just outside the city of Peekskill, New York (the “Peekskill Site”) which was owned by ISC Properties, Inc. (“ISCP”), a wholly-owned subsidiary of Griffon, for approximately three years. ISCP sold the Peekskill Site in November 1982. On May 15, 2019 the United States Environmental Protection Agency ("EPA") added the Peekskill Site to the National Priorities List under CERCLA and has since announced that it is performing a Remedial Investigation/Feasibility Study ("RI/FS"). On August 25, 2020, the EPA sent a letter to several parties, including Lightron and ISCP, requesting that each such party inform the EPA as to whether it would be willing to enter into discussions regarding implementation of the RI/FS. The EPA also sent a request for information under Section 104(e) of CERCLA to each party. Lightron and ISCP have informed the EPA that they are willing to participate in discussions regarding implementation of the RI/FS. Lightron and ISCP have also submitted responses to certain items contained in the Section 104(e) information request, with additional responses to follow. The current owner of the property, which acquired the Peekskill Site from ISCP in 1982 and has no relationship with Lightron or ISCP, has also informed the EPA that it is willing to discuss implementation of the RI/FS, and has also received, and submitted certain information in response to, a Section 104(e) information request. The EPA may decide to implement the RI/FS, on its own or through the use of consultants, may reach agreement with one or more parties to perform the RI/FS, or may offer to negotiate with one or more parties to accept a settlement addressing the potential liability of such parties for investigation and/or remediation at the Peekskill Site. Should the EPA implement the RI/FS, or perform further studies and/or subsequently remediate the site, without first reaching agreement with one or more relevant parties, the EPA would likely seek reimbursement for the costs incurred from such parties. Lightron has not engaged in any operations in over three decades. ISCP functioned solely as a real estate holding company, and has not held any real property in over three decades. Griffon does not acknowledge any responsibility to perform any investigation or remediation at the Peekskill Site. One of Griffon’s insurers is defending Lightron, ISCP and Griffon subject to a reservation of rights. Union Fork and Hoe, Frankfort, NY site. The former Union Fork and Hoe property in Frankfort, New York was acquired by AMES in 2006 as part of a larger acquisition, and has historic site contamination involving chlorinated solvents, petroleum hydrocarbons and metals. AMES entered into an Order on Consent with the New York State Department of Environmental Conservation (“DEC”). While the Order is without admission or finding of liability or acknowledgment that there has been a release of hazardous substances at the site, the Order required AMES to perform a remedial investigation of certain portions of the property and to recommend a remediation option. In 2011, remediation of chlorinated solvents in the groundwater was completed to the satisfaction of DEC. In June 2020, AMES completed the remediation required by the Record of Decision issued by DEC in 2019 ("ROD") and filed a Construction Completion Report, a Site Management Plan and an environmental easement with DEC. While AMES was implementing the remediation required by the ROD, DEC requested additional investigation of a small area on the site and of an area adjacent to the site perimeter. AMES investigated the on-site area and has completed remediation of that small area under a workplan approved by DEC. AMES also completed a workplan approved by DEC to investigate the areas adjacent to the site perimeter. AMES has a number of defenses to liability in this matter, including its rights under a previous Consent Judgment entered into between DEC and a predecessor of AMES relating to the site. AMES’ insurer has accepted AMES’ claim for a substantial portion of the costs incurred and to be incurred for both the on-site and off-site activities. General legal Griffon is subject to various laws and regulations relating to the protection of the environment and is a party to legal proceedings arising in the ordinary course of business. Management believes, based on facts presently known to it, that the resolution of the matters above and such other matters will not have a material adverse effect on Griffon’s consolidated financial position, results of operations or cash flows.

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by US GAAP for complete financial statements. As such, they should be read together with Griffon’s Annual Report on Form 10-K for the year ended September 30, 2021, which provides a more complete explanation of Griffon’s accounting policies, financial position, operating results, business, properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results. Griffon’s CPP operations are seasonal; for this and other reasons, the financial results of the Company for any interim period are not necessarily indicative of the results for the full year. The condensed consolidated balance sheet information at September 30, 2021 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2021. The condensed consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. These estimates may be adjusted due to changes in economic, industry or customer financial conditions, as well as changes in technology or demand. Significant estimates include expected loss allowances for doubtful accounts receivable and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, sales, assumptions associated with pension benefit obligations and income or expenses, useful lives associated with depreciation and amortization of intangible and fixed assets, warranty reserves, sales incentive accruals, assumption associated with stock based compensation valuation, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves, the valuation of assets and liabilities of discontinued operations, assumptions associated with valuation of acquired assets and assumed liabilities of acquired companies and the accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions Griffon may undertake in the future. Actual results may ultimately differ from these estimates. Certain amounts in the prior year have been reclassified to conform to current year presentation.
Fair Value Measurements	The carrying values of cash and equivalents, accounts receivable, accounts and notes payable, and revolving credit and variable interest rate debt approximate fair value due to either the short-term nature of such instruments or the fact that the interest rate of the revolving credit and variable rate debt is based upon current market rates. Applicable accounting guidance establishes a fair value hierarchy requiring the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The accounting guidance establishes three levels of inputs that may be used to measure fair value, as follows: •Level 1 inputs are measured and recorded at fair value based upon quoted prices in active markets for identical assets. •Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities. •Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
Inventories	Inventories are stated at the lower of cost (first-in, first-out or average cost) or market.
Issued but not yet effective accounting pronouncements and New Accounting Standards Implemented	Issued but not yet effective accounting pronouncements In October 2021, the Financial Accounting Standards Board ("FASB") issued ASU No. 2021-08, Business Combinations (Topic 805); Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. This new guidance affects all entities that enter into a business combination within the scope of ASC 805-10. Under this new guidance, the acquirer should determine what contract assets and/or liabilities it would have recorded under ASC 606 (Revenue Guidance) as of the acquisition date, as if the acquirer had entered into the original contract at the same date and on the same terms as the acquirer. Under current U.S. GAAP, contract assets and contract liabilities acquired in a business combination are recorded by the acquirer at fair value. This update is effective for the Company beginning in fiscal 2023. Early adoption is permitted. New Accounting Standards Implemented In December 2019, the FASB issued guidance on simplifying the accounting for income taxes by clarifying and amending existing guidance related to the recognition of franchise tax, the evaluation of a step up in the tax basis of goodwill, and the effects of enacted changes in tax laws or rates in the effective tax rate computation, among other clarifications. This guidance became effective for the Company beginning in fiscal 2022. We adopted the recognition of non-income taxes on the modified retrospective basis. Adoption of this standard did not have a material impact on our consolidated financial statements and the related disclosures. In August 2018, the FASB issued guidance to clarify disclosure requirements related to defined benefit pension and other post-retirement plans. The guidance is effective for fiscal years beginning after December 15, 2020, with early adoption permitted, and was effective for the Company in our fiscal year beginning in October 1, 2021. Adoption of this standard did not have a material impact on our consolidated financial statements and the related disclosures. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements, and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

INVENTORIES (Tables)

3 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventory

The following table details the components of inventory:


	At December 31, 2021		At September 30, 2021
Raw materials and supplies	$	151,292	$	133,684
Work in process	46,679		48,531
Finished goods	333,211		290,579
Total	$	531,182	$	472,794

PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

The following table details the components of property, plant and equipment, net:


	At December 31, 2021		At September 30, 2021
Land, building and building improvements	$	163,841	$	164,486
Machinery and equipment	525,928		520,110
Leasehold improvements	40,111		39,913
	729,880		724,509
Accumulated depreciation and amortization	(439,328)		(431,887)
Total	$	290,552	$	292,622

CREDIT LOSSES (Tables)

3 Months Ended

Dec. 31, 2021

Credit Loss [Abstract]

Schedule of Accounts Receivable, Allowance for Credit Losses


	2021		2020
Beginning Balance, October 1	$	8,787	$	8,178
Provision for expected credit losses	1,039		499
Amounts written off charged against the allowance	(4)		(42)
Other, primarily foreign currency translation	(35)		64
Ending Balance, December 31	$	9,787	$	8,699

GOODWILL AND OTHER INTANGIBLES (Tables)

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Value of Goodwill

The following table provides changes in the carrying value of goodwill by segment during the quarter ended December 31, 2021:


	At September 30, 2021		Foreign currency translations adjustments		At December 31, 2021
Consumer and Professional Products	$	234,895	$	535	$	235,430
Home and Building Products	191,253		—		191,253


Total	$	426,148	$	535	$	426,683

Summary of Gross Carrying Value and Accumulated Amortization of Intangible Assets

The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets:


	At December 31, 2021					At September 30, 2021
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	187,409	$	77,939	23	$	187,732	$	75,794
Technology and patents	13,429		2,569		13	13,429		2,439
Total amortizable intangible assets	200,838		80,508			201,161		78,233
Trademarks	226,472		—			227,097		—
Total intangible assets	$	427,310	$	80,508		$	428,258	$	78,233

LONG-TERM DEBT (Tables)

3 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Long-Term Debt


		At December 31, 2021										At September 30, 2021
		Outstanding Balance		Original Issuer Premium		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate			Outstanding Balance		Original Issuer Premium		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate
Senior notes due 2028	(a)	$	1,000,000	$	302	(12,775)		$	987,527	5.75	%		$	1,000,000	$	315	$	(13,293)	$	987,022	5.75	%

Revolver due 2025	(b)	19,859		—		(1,595)		18,264		Variable			13,483		—		(1,718)		11,765		Variable



Finance lease - real estate	(c)	14,083		—		—		14,083		Variable			14,594		—		(4)		14,590		Variable
Non US lines of credit	(d)	6,533		—		(13)		6,520		Variable			3,012		—		(17)		2,995		Variable
Non US term loans	(d)	23,761		—		(71)		23,690		Variable			25,684		—		(91)		25,593		Variable
Other long term debt	(e)	3,360		—		(14)		3,346		Variable			3,733		—		(15)		3,718		Variable
Totals		1,067,596		302		(14,468)		1,053,430					1,060,506		315		(15,138)		1,045,683
less: Current portion		(15,675)		—		—		(15,675)					(12,486)		—		—		(12,486)
Long-term debt		$	1,051,921	$	302	$	(14,468)	$	1,037,755				$	1,048,020	$	315	$	(15,138)	$	1,033,197

Summary of Interest Expense Incurred


		Three Months Ended December 31, 2021								Three Months Ended December 31, 2020
		Effective Interest Rate		Cash Interest		Amort. Debt Premium		Amort. Debt Issuance Costs & Other Fees			Total Interest Expense		Effective Interest Rate		Cash Interest		Amort. Debt Premium		Amort. Debt Issuance Costs & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.9	%	$	14,375	$	(12)	$	518		$	14,881	5.9	%	$	14,375	$	—	$	530	$	14,905

Revolver due 2025	(b)	Variable		261		—		122			383		Variable		129		—		123		252



Finance lease - real estate	(c)	5.6	%	198		—		4			202		4.8	%	232		—		6		238
Non US lines of credit	(d)	Variable		3		—		4			7		Variable		3		—		4		7
Non US term loans	(d)	Variable		166		—		17			183		Variable		171		—		17		188
Other long term debt	(e)	Variable		97		—		1			98		Variable		107		—		—		107
Capitalized interest				(73)		—		—			(73)				(7)		—		—		(7)
Totals				$	15,027	$	(12)	$	666		$	15,681			$	15,010	$	—	$	680	$	15,690

SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Dec. 31, 2021

Stockholders' Equity Note [Abstract]

Compensation Expense Relating to Stock-based Incentive Plans

The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:


	For the Three Months Ended December 31,
		2021		2020
Restricted stock		$	3,890	$	3,428
ESOP		977		780
Total stock based compensation		$	4,867	$	4,208

EARNINGS PER SHARE (EPS) (Tables)

3 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of Reconciliation of Share Amounts Used in Earnings Per Share

The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share:


	Three Months Ended December 31,
		2021	2020
Common shares outstanding		56,304	56,490
Unallocated ESOP shares		(1,816)	(2,010)
Non-vested restricted stock		(2,869)	(3,687)
Impact of weighted average shares		(441)	(197)
Weighted average shares outstanding - basic		51,178	50,596
Incremental shares from stock based compensation		2,575	2,596
Weighted average shares outstanding - diluted		53,753	53,192

BUSINESS SEGMENTS (Tables)

3 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Reportable Segments from Continuing Operations


	For the Three Months Ended December 31,
REVENUE		2021		2020
Consumer and Professional Products		$	283,173	$	291,042
Home and Building Products		308,576		250,481
Defense Electronics		53,993		67,768
Subtotal		645,742		609,291
Less: Defense Electronics		(53,993)		(67,768)
Total revenue		$	591,749	$	541,523

The following table provides a reconciliation of Segment adjusted EBITDA to Income before taxes from continuing operations:


	For the Three Months Ended December 31,
		2021		2020
Segment adjusted EBITDA:
Consumer and Professional Products		$	16,214	$	32,713
Home and Building Products		56,297		48,369
Defense Electronics		4,472		5,585
Subtotal		76,983		86,667
Less: Defense Electronics		(4,472)		(5,585)
Segment adjusted EBITDA		72,511		81,082
Unallocated amounts, excluding depreciation *		(12,957)		(12,629)
Adjusted EBITDA		59,554		68,453
Net interest expense		(15,648)		(15,646)
Depreciation and amortization		(13,081)		(12,590)


Restructuring charges		(1,716)		(3,079)
Acquisition costs		(2,595)		—

Proxy contest costs		(2,291)		—

Income before taxes from continuing operations		$	24,223	$	37,138

* Unallocated amounts typically include general corporate expenses not attributable to a reportable segment.


	For the Three Months Ended December 31,
DEPRECIATION and AMORTIZATION		2021		2020
Segment:
Consumer and Professional Products		$	8,606	$	8,199
Home and Building Products		4,338		4,341
Defense Electronics		—		2,676
Subtotal		12,944		15,216
Less: Defense Electronics		—		(2,676)
Total segment depreciation and amortization		12,944		12,540
Corporate		137		50
Total consolidated depreciation and amortization		$	13,081	$	12,590

CAPITAL EXPENDITURES
Segment:
Consumer and Professional Products		$	7,130	$	6,907
Home and Building Products		3,349		2,115
Defense Electronics		853		2,904
Subtotal		11,332		11,926
Less: Defense Electronics		(853)		(2,904)
Total segment		10,479		9,022
Corporate		94		—
Total consolidated capital expenditures		$	10,573	$	9,022


ASSETS	At December 31, 2021		At September 30, 2021
Segment assets:
Consumer and Professional Products	$	1,443,527	$	1,377,618
Home and Building Products	686,009		666,422

Total segment assets	2,129,536		2,044,040
Corporate	187,735		283,202
Total continuing assets	2,317,271		2,327,242
Discontinued operations - held for sale	261,514		273,414
Other discontinued operations	3,958		4,029
Consolidated total	$	2,582,743	$	2,604,685

Summary of Disaggregation of Revenue by End Market and Segment

The following table presents revenue disaggregated by end market and segment:


	For the Three Months Ended December 31,
		2021		2020
Residential repair and remodel		$	38,759	$	45,600
Retail		130,235		139,248
Residential new construction		10,327		13,515
Industrial		11,306		9,531
International excluding North America		92,546		83,148
Total Consumer and Professional Products		283,173		291,042
Residential repair and remodel		145,085		126,115
Commercial construction		130,789		95,939
Residential new construction		32,702		28,427
Total Home and Building Products		308,576		250,481




Total Consolidated Revenue		$	591,749	$	541,523

The following table presents revenue disaggregated by geography based on the location of the Company's customer:



	For the Three Months Ended December 31,
	2021						2020
	CPP		HBP		Total			CPP		HBP		Total
United States	$	164,899	$	294,576	$	459,475		$	183,442	$	236,531	$	419,973
Europe	18,330		37		18,367			13,156		—		13,156
Canada	22,628		12,013		34,641			22,115		11,488		33,603
Australia	74,349		—		74,349			69,540		—		69,540
All other countries	2,967		1,950		4,917			2,789		2,462		5,251
Consolidated revenue	$	283,173	$	308,576	$	591,749		$	291,042	$	250,481	$	541,523

EMPLOYEE BENEFIT PLANS (Tables)

3 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Summary of Defined Benefit Plans Included in Other Income

Defined benefit pension expense (income) included in Other Income (Expense), net was as follows:


	Three Months Ended December 31,
		2021		2020

Interest cost		$	796	$	744
Expected return on plan assets		(2,589)		(2,544)
Amortization:

Recognized actuarial loss		845		1,573

Net periodic expense (income)		$	(948)	$	(227)

DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The following amounts related to Telephonics have been segregated from Griffon's continuing operations and are reported as a discontinued operation:


	For the Quarter Ended December 31,
	2021		2020
Revenue	$	53,993	$	67,768
Cost of goods and services	40,961		62,101
Gross profit	13,032		5,667
Selling, general and administrative expenses	10,020		9,942


Income (loss) from discontinued operations	3,012		(4,275)
Other income (expense)


Gain on sale of business	—		6,240
Other, net	2		66
Total other income (expense)	2		6,306
Income from discontinued operations before taxes	$	3,014	$	2,031
Provision (benefit) for income taxes	621		(2,039)
Income from discontinued operations	$	2,393	$	4,070


	At December 31,		At September 30,
	2021		2021
CURRENT ASSETS

Accounts receivable, net	32,642		42,020
Contract assets, net of progress payments	69,043		72,983
Inventories	84,796		83,970
Prepaid and other current assets	4,363		4,409
PROPERTY, PLANT AND EQUIPMENT, net	46,205		45,371
OPERATING LEASE RIGHT-OF-USE ASSETS	1,167		1,167
GOODWILL	17,734		17,734
INTANGIBLE ASSETS, net	131		131
OTHER ASSETS	5,433		5,629
Total Assets Held for Sale	$	261,514	$	273,414
CURRENT LIABILITIES

Accounts payable	55,661		60,486
Accrued liabilities	15,547		15,153
Current portion of operating lease liabilities	221		287

LONG-TERM OPERATING LEASE LIABILITIES	817		867
OTHER LIABILITIES	2,010		3,955
Total Liabilities Held for Sale	$	74,256	$	80,748


	At December 31, 2021		At September 30, 2021
Assets of discontinued operations:
Prepaid and other current assets	$	583	$	605
Other long-term assets	3,375		3,424
Total assets of discontinued operations	$	3,958	$	4,029

Liabilities of discontinued operations:
Accrued liabilities, current	$	3,095	$	3,280
Other long-term liabilities	3,740		3,794
Total liabilities of discontinued operations	$	6,835	$	7,074

- Definition

Tabular disclosure of information 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

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+ Details

RESTRUCTURING CHARGES (Tables)

3 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Summary of the Restructuring and Other Related Charges

A summary of the restructuring and other related charges included in Cost of goods and services and SG&A expenses in the Company's Condensed Consolidated Statements of Operations were as follows:


	For the Three Months Ended December 31,
		2021		2020
Cost of goods and services		$	322	$	541
Selling, general and administrative expenses		1,394		2,538
Total restructuring charges		$	1,716	$	3,079


	For the Three Months Ended December 31,
		2021		2020
Personnel related costs		$	260	$	362
Facilities, exit costs and other		1,167		2,524

Non-cash facility and other		289		193
Total		$	1,716	$	3,079

Summary of Accrued Liability for the Restructuring and Related Charges

The following table summarizes the accrued liabilities of the Company's restructuring actions:


	Cash Charges				Non-Cash
	Personnel related costs		Facilities & Exit Costs		Facility and Other Costs		Total
Accrued liability at September 30, 2021	$	418	$	264	$	—	$	682
Q1 Restructuring charges	260		1,167		289		1,716
Q1 Cash payments	(275)		(1,167)		—		(1,442)
Q1 Non-cash charges	—		—		(289)		(289)
Accrued liability at December 31, 2021	$	403	$	264	$	—	$	667

WARRANTY LIABILITY (Tables)

3 Months Ended

Dec. 31, 2021

Product Warranties Disclosures [Abstract]

Summary of Changes in Warranty Liability, Included in Accrued Liabilities

Changes in Griffon’s warranty liability, included in Accrued liabilities, were as follows:


	Three Months Ended December 31,
		2021		2020
Balance, beginning of period		$	7,818	$	6,268
Warranties issued and changes in estimated pre-existing warranties		3,461		3,576
Actual warranty costs incurred		(1,707)		(3,612)

Balance, end of period		$	9,572	$	6,232

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Dec. 31, 2021

OCI, Net of Tax [Abstract]

Summary of Comprehensive Income (Loss)

The amounts recognized in other comprehensive income (loss) were as follows:


	For the Three Months Ended December31,
	2021						2020

	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Foreign currency translation adjustments	$	(2,319)	$	—	$	(2,319)	$	12,123	$	—	$	12,123
Pension and other defined benefit plans	846		(178)		668		2,150		(444)		1,706
Cash flow hedges	(1,571)		471		(1,100)		(983)		295		(688)

Total other comprehensive income (loss)	$	(3,044)	$	293	$	(2,751)	$	13,290	$	(149)	$	13,141

The components of Accumulated other comprehensive income (loss) are as follows:


	At December 31, 2021		At September 30, 2021
Foreign currency translation adjustments	$	(21,569)	$	(19,250)
Pension and other defined benefit plans	(28,134)		(28,802)
Change in Cash flow hedges	975		2,075

	$	(48,728)	$	(45,977)

Reclassification from Accumulated Other Comprehensive Income (Loss)

Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows:


	For the Three Months Ended December 31,
Gain (Loss)		2021		2020


Pension amortization		$	(845)	$	(1,573)
Cash flow hedges		1,533		(658)

Total gain (loss)		688		(2,231)
Tax benefit (expense)		(144)		469
Total		$	544	$	(1,762)

LEASES (Tables)

3 Months Ended

Dec. 31, 2021

Leases [Abstract]

Components of Operating Lease Cost, Cash Flow Information, and Average Lease Terms and Discount Rates

Components of operating lease costs are as follows:


	For the Three Months Ended December 31,
		2021		2020
Fixed		$	9,747	$	9,491
Variable (a), (b)		1,852		1,894
Short-term (b)		1,349		1,070
Total		$	12,948	$	12,455

(a) Primarily relates to common-area maintenance and property taxes.

(b) Not recorded on the balance sheet.

Supplemental cash flow information were as follows:


	For the Three Months Ended December 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	10,844	$	10,609
Financing cash flows from finance leases	753		803
Total	$	11,597	$	11,412

Average lease terms and discount rates at December 31, 2021 were as follows:


Weighted-average remaining lease term (years)
Operating leases	8.0
Finance Leases	7.9

Weighted-average discount rate
Operating Leases	4.45	%
Finance Leases	5.49	%

Supplemental Condensed Consolidated Balance Sheet Information

Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows:


	December 31, 2021		September 30, 2021
Operating Leases:
Right of use assets:
Operating right-of-use assets	$	141,406	$	144,598

Lease Liabilities:
Current portion of operating lease liabilities	$	28,932	$	29,881
Long-term operating lease liabilities	117,189		119,315
Total operating lease liabilities	$	146,121	$	149,196

Finance Leases:
Property, plant and equipment, net(1)	$	15,719	$	16,466

Lease Liabilities:
Notes payable and current portion of long-term debt	$	2,359	$	2,347
Long-term debt, net	13,569		14,120
Total financing lease liabilities	$	15,928	$	16,467

(1) Finance lease assets are recorded net of accumulated depreciation of $3,961 and $6,136 as of December 31, 2021 and September 30, 2021, respectively.

Aggregate Future Maturities of Lease Payments for Operating Leases

The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2021 are as follows (in thousands):


	Operating Leases		Finance Leases
2022(a)	$	26,927	$	2,362
2023	29,265		2,876
2024	22,123		2,312
2025	19,790		2,124
2026	13,554		2,106
2027	10,766		2,074
Thereafter	54,382		5,703
Total lease payments	176,807		19,557
Less: Imputed Interest	(30,686)		(3,629)
Present value of lease liabilities	$	146,121	$	15,928

(a) Excluding the three months ended December 31, 2021.

Aggregate Future Maturities of Lease Payments for Finance Leases

The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2021 are as follows (in thousands):


	Operating Leases		Finance Leases
2022(a)	$	26,927	$	2,362
2023	29,265		2,876
2024	22,123		2,312
2025	19,790		2,124
2026	13,554		2,106
2027	10,766		2,074
Thereafter	54,382		5,703
Total lease payments	176,807		19,557
Less: Imputed Interest	(30,686)		(3,629)
Present value of lease liabilities	$	146,121	$	15,928

(a) Excluding the three months ended December 31, 2021.

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) $ in Thousands		3 Months Ended
	Jan. 24, 2022 USD ($)	Dec. 31, 2021 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments \| segment		2
Subsequent Event \| Term Loan B \| Term Loan
Business Acquisition [Line Items]
Face amount	$ 800,000
Debt instrument, term	7 years
Hunter Fan Company \| Subsequent Event
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 845,000

FAIR VALUE MEASUREMENTS (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2021 USD ($) $ / shares
Designated as Hedging Instrument \| Australian Dollar Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount	$ 21,000
Contracts weighted average rate price (in dollars per share) \| $ / shares	$ 1.34
Deferred gain (loss) from currency translation included in AOCI	$ 688
Deferred gain (loss) from currency translation included in AOCI, net of tax	481
Designated as Hedging Instrument \| Australian Dollar Forward Contracts \| Cost of goods and services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) reclassified for settled contracts	$ 1,533
Designated as Hedging Instrument \| Australian Dollar Forward Contracts \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	30 days
Designated as Hedging Instrument \| Australian Dollar Forward Contracts \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	90 days
Not Designated as Hedging Instrument \| Canadian Dollar Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount	$ 6,675
Derivative, average forward exchange rate	1.25
Not Designated as Hedging Instrument \| Canadian Dollar Forward Contracts \| Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	30 days
Not Designated as Hedging Instrument \| Canadian Dollar Forward Contracts \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	270 days
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Insurance contracts fair value	$ 4,000
Marketable debt and equity securities, fair value	15,442
Marketable debt and equity securities, cost	15,050
Fair Value, Inputs, Level 2 \| Not Designated as Hedging Instrument \| Canadian Dollar Forward Contracts \| Other income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments	134
Realized gains (losses)	14
Senior notes due 2028 \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior note, fair value disclosure	$ 1,037,500

ACQUISITIONS - Narrative (Details) $ in Thousands, $ in Thousands				3 Months Ended
	Jan. 24, 2022 USD ($)	Dec. 22, 2020 USD ($)	Dec. 22, 2020 AUD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 22, 2020 AUD ($)
Business Acquisition [Line Items]
Goodwill				$ 426,683	$ 426,148
Acquisition costs				$ 2,595
Hunter Fan Company \| Subsequent Event
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 845,000
Quatro Design Pty Ltd
Business Acquisition [Line Items]
Cash payment to acquire business		$ 2,700	$ 3,500
Intangible assets		784				$ 1,038
Goodwill		$ 2,082				$ 2,755

INVENTORIES - Summary of Inventories Stated at Lower Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 151,292	$ 133,684
Work in process	46,679	48,531
Finished goods	333,211	290,579
Total	$ 531,182	$ 472,794

PROPERTY, PLANT AND EQUIPMENT - Summary of Property Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 729,880	$ 724,509
Accumulated depreciation and amortization	(439,328)	(431,887)
Total	290,552	292,622
Land, building and building improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	163,841	164,486
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	525,928	520,110
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 40,111	$ 39,913

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 10,694	$ 10,238
Selling, general and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 3,400	$ 3,262

CREDIT LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended
CREDIT LOSSES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance, October 1	$ 8,787	$ 8,178
Provision for expected credit losses	1,039	499
Amounts written off charged against the allowance	(4)	(42)
Other, primarily foreign currency translation	(35)	64
Ending Balance, December 31	$ 9,787	$ 8,699

GOODWILL AND OTHER INTANGIBLES - Summary of Changes in Carrying Value of Goodwill (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2021 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 426,148
Foreign currency translations adjustments	535
Goodwill, ending balance	426,683
Consumer and Professional Products
Goodwill [Roll Forward]
Goodwill, beginning balance	234,895
Foreign currency translations adjustments	535
Goodwill, ending balance	235,430
Home and Building Products
Goodwill [Roll Forward]
Goodwill, beginning balance	191,253
Foreign currency translations adjustments	0
Goodwill, ending balance	$ 191,253

GOODWILL AND OTHER INTANGIBLES - Summary of Gross Carrying Value and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 200,838	$ 201,161
Accumulated Amortization	80,508	78,233
Trademarks	226,472	227,097
Total intangible assets	427,310	428,258
Customer relationships & other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	187,409	187,732
Accumulated Amortization	$ 77,939	75,794
Average Life (Years)	23 years
Technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 13,429	13,429
Accumulated Amortization	$ 2,569	$ 2,439
Average Life (Years)	13 years

GOODWILL AND OTHER INTANGIBLES - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Carry amount of intangible assets related to foreign currency translation	$ 800,000
Amortization expense	2,387,000	$ 2,352,000
Estimated amortization expense, remainder of fiscal year	7,348,000
Estimated amortization expense, year one	9,600,000
Estimated amortization expense, year two	9,600,000
Estimated amortization expense, year three	9,600,000
Estimated amortization expense, year four	9,600,000
Estimated amortization expense, year five	9,600,000
Estimated amortization expense, thereafter	64,982,000
Goodwill impairment	0
Indefinite-lived intangible asset (excluding goodwill) impairment	$ 0

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 7,318	$ 11,708
Income before taxes from continuing operations	24,223	37,138
Restructuring charges	1,716	3,079
Restructuring charges, net of tax	1,330	2,301
Effective income tax rate reconciliation, acquisition cost	2,595
Effective income tax rate reconciliation, acquisition cost, net of tax	2,003
Effective income tax rate reconciliation, proxy contest cost	2,291
Effective income tax rate reconciliation, proxy contest cost, net of tax	1,768
Other tax expense (benefit) that affect comparability	$ (881)	$ (1,048)
Effective tax rate	31.50%	33.70%

LONG-TERM DEBT - Summary of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Jun. 22, 2020
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	$ 1,067,596	$ 1,060,506
less: Current portion, Outstanding Balance	(15,675)	(12,486)
Long-term debt, Outstanding Balance, Non-current	1,051,921	1,048,020
Original Issuer Premium	302	315
less: Current portion, Original Issuer Premium	0	0
Long-term debt, Original Issuer Premium, Non-current	302	315
Capitalized Fees & Expenses	(14,468)	(15,138)
Long-term debt, Balance Sheet	1,053,430	1,045,683
less: Current portion, Balance Sheet	(15,675)	(12,486)
Long-term debt, Balance Sheet, Non-current	1,037,755	1,033,197
Senior notes due 2028
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	1,000,000	1,000,000
Original Issuer Premium	302	315
Capitalized Fees & Expenses	(12,775)	(13,293)
Long-term debt, Balance Sheet	$ 987,527	$ 987,022
Coupon Interest Rate	5.75%	5.75%	5.75%
Revolver due 2025
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	$ 19,859	$ 13,483
Original Issuer Premium	0	0
Capitalized Fees & Expenses	(1,595)	(1,718)
Long-term debt, Balance Sheet	18,264	11,765
Finance lease - real estate
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	14,083	14,594
Original Issuer Premium	0	0
Capitalized Fees & Expenses	0	(4)
Long-term debt, Balance Sheet	14,083	14,590
Non US lines of credit
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	6,533	3,012
Original Issuer Premium	0	0
Capitalized Fees & Expenses	(13)	(17)
Long-term debt, Balance Sheet	6,520	2,995
Non US term loans
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	23,761	25,684
Original Issuer Premium	0	0
Capitalized Fees & Expenses	(71)	(91)
Long-term debt, Balance Sheet	23,690	25,593
Other long term debt
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	3,360	3,733
Original Issuer Premium	0	0
Capitalized Fees & Expenses	(14)	(15)
Long-term debt, Balance Sheet	$ 3,346	$ 3,718

LONG-TERM DEBT - Summary of Interest Expense Incurred (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Cash Interest, Capitalized Interest	$ (73)	$ (7)
Cash Interest	15,027	15,010
Amort. Debt Premium	(12)	0
Amort. Debt Issuance Costs & Other Fees	666	680
Total Interest Expense	$ 15,681	$ 15,690
Senior notes due 2028
Debt Instrument [Line Items]
Effective Interest Rate	5.90%	5.90%
Cash Interest, Including Amounts Capitalized	$ 14,375	$ 14,375
Amort. Debt Premium	(12)	0
Amort. Debt Issuance Costs & Other Fees	518	530
Total Interest Expense	14,881	14,905
Revolver due 2025
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	261	129
Amort. Debt Premium	0	0
Amort. Debt Issuance Costs & Other Fees	122	123
Total Interest Expense	$ 383	$ 252
Finance lease - real estate
Debt Instrument [Line Items]
Effective Interest Rate	5.60%	4.80%
Cash Interest, Including Amounts Capitalized	$ 198	$ 232
Amort. Debt Premium	0	0
Amort. Debt Issuance Costs & Other Fees	4	6
Total Interest Expense	202	238
Non US lines of credit
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	3	3
Amort. Debt Premium	0	0
Amort. Debt Issuance Costs & Other Fees	4	4
Total Interest Expense	7	7
Non US term loans
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	166	171
Amort. Debt Premium	0	0
Amort. Debt Issuance Costs & Other Fees	17	17
Total Interest Expense	183	188
Other long term debt
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	97	107
Amort. Debt Premium	0	0
Amort. Debt Issuance Costs & Other Fees	1	0
Total Interest Expense	$ 98	$ 107

LONG-TERM DEBT - Narrative (Details) $ in Thousands			1 Months Ended			3 Months Ended	12 Months Ended
LONG-TERM DEBT - Narrative (Details) $ in Thousands	Jan. 24, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jul. 31, 2018 GBP (£)	Jul. 31, 2016 AUD ($)	Nov. 30, 2012 CAD ($)	Dec. 31, 2021 USD ($) renewalOption	Dec. 31, 2020 USD ($)	Sep. 30, 2020 AUD ($)	Dec. 31, 2021 AUD ($)	Dec. 31, 2021 CAD ($)	Dec. 31, 2021 GBP (£)	Dec. 09, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 AUD ($)	Dec. 30, 2020 USD ($)	Aug. 03, 2020 USD ($)	Jun. 22, 2020	Jul. 31, 2016 USD ($)	Jul. 31, 2016 AUD ($)
Debt Instrument [Line Items]
Debt outstanding		$ 1,067,596,000				$ 1,067,596,000							$ 1,060,506,000
Basis spread on variable rate					1.30%
Mortgage loan balance		$ 1,053,430,000				$ 1,053,430,000							$ 1,045,683,000
Ocala, Florida
Debt Instrument [Line Items]
Percentage bearing fixed interest, percentage rate		5.60%				5.60%			5.60%	5.60%	5.60%
Number of option to extend \| renewalOption						2
Lease renewal term		5 years				5 years			5 years	5 years	5 years
Troy, Ohio
Debt Instrument [Line Items]
Percentage bearing fixed interest, percentage rate		5.00%				5.00%			5.00%	5.00%	5.00%
Lessee, finance lease buyout amount		$ 1				$ 1
Revolver due 2025
Debt Instrument [Line Items]
Maximum borrowing capacity												$ 400,000
Maximum borrowing capacity, accordion feature												100,000,000
Maximum percentage of equity interest of subsidiaries borrowings guaranteed						65.00%
Long-term line of credit		19,859,000				$ 19,859,000
Outstanding standby letters of credit		15,508,000				15,508,000
Remaining borrowing capacity		364,633,000				$ 364,633,000
Revolver due 2025 \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Revolver due 2025 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate						1.50%
Revolver due 2025 \| SONIA
Debt Instrument [Line Items]
Basis spread on variable rate						1.50%
Term Loan \| Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Face amount																			$ 29,625,000
Basis spread on variable rate				1.95%
Long-term line of credit		$ 6,965,000				$ 6,965,000		$ 23,375,000	$ 9,625,000					$ 18,375,000
Debt instrument, periodic payment, principal				$ 1,250,000
Periodic payment terms, balloon payment to be paid																			9,625,000
Debt instrument, interest rate, effective percentage		2.02%				2.02%			2.02%	2.02%	2.02%
Term loan balance change								5,000,000
Term Loan \| Ames UK
Debt Instrument [Line Items]
Face amount \| £			£ 14,000,000
Debt instrument, periodic payment, principal \| £			438,000
Periodic payment terms, balloon payment to be paid \| £			£ 7,088,000
Mortgages \| London Interbank Offered Rate (LIBOR) \| Ames UK
Debt Instrument [Line Items]
Basis spread on variable rate			1.80%
Revolving Credit Facility \| Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Face amount																			$ 20,000,000
Basis spread on variable rate				1.90%
Mortgage loan balance		$ 0				$ 0
Debt instrument, interest rate, effective percentage		2.01%				2.01%			2.01%	2.01%	2.01%
Revolving Credit Facility \| Ames UK
Debt Instrument [Line Items]
Face amount \| £			£ 5,000,000
Basis spread on variable rate		3.50%	3.25%
Mortgage loan balance		$ 6,533,000				$ 6,533,000					£ 4,935,000
Long-term line of credit, revolver outstanding balance		0				0
Term and Mortgage Loans \| Ames UK
Debt Instrument [Line Items]
Mortgage loan balance		16,796,000				16,796,000					£ 12,687,000
Letter of Credit Subfacility \| Revolver due 2025
Debt Instrument [Line Items]
Maximum borrowing capacity												100,000,000
Multicurrency Subfacility \| Revolver due 2025
Debt Instrument [Line Items]
Maximum borrowing capacity												$ 200,000,000
Receivables Purchase Facility
Debt Instrument [Line Items]
Mortgage loan balance		$ 0				$ 0
Receivables Purchase Facility \| Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Face amount																		$ 10,000,000
Basis spread on variable rate				1.35%
Mortgage loan balance								10,000,000						$ 15,000,000
Debt instrument, interest rate, effective percentage		1.42%				1.42%			1.42%	1.42%	1.42%
Increase in receivables purchase line								$ 5,000,000
Senior notes due 2028
Debt Instrument [Line Items]
Face amount															$ 1,000,000,000
Debt instrument, interest rate, stated percentage		5.75%				5.75%			5.75%	5.75%	5.75%		5.75%	5.75%			5.75%
Debt outstanding		$ 1,000,000,000				$ 1,000,000,000							$ 1,000,000,000
Capitalized fees and expenses		12,775,000				12,775,000										$ 16,448,000
Mortgage loan balance		987,527,000				987,527,000							987,022,000
Senior notes due 2028 \| Fair Value, Inputs, Level 1
Debt Instrument [Line Items]
Senior note, fair value disclosure		1,037,500,000				1,037,500,000
Senior Notes
Debt Instrument [Line Items]
Debt outstanding		1,000,000,000				1,000,000,000
Non US lines of credit
Debt Instrument [Line Items]
Debt outstanding		6,533,000				6,533,000							3,012,000
Remaining borrowing capacity		11,708,000				11,708,000				$ 15,000
Mortgage loan balance		$ 6,520,000				6,520,000							$ 2,995,000
Proceeds from long-term lines of credit					$ 15,000	$ 11,708,000
Non US lines of credit \| LIBOR Rate
Debt Instrument [Line Items]
Interest rate at period end		1.40%				1.40%			1.40%	1.40%	1.40%
Non US lines of credit \| Bankers Acceptance Rate
Debt Instrument [Line Items]
Interest rate at period end		1.53%				1.53%			1.53%	1.53%	1.53%
Mortgages \| Ames UK
Debt Instrument [Line Items]
Face amount \| £			£ 4,000,000
Interest rate at period end		1.99%				1.99%			1.99%	1.99%	1.99%
Debt instrument, periodic payment, principal \| £			105,000
Periodic payment terms, balloon payment to be paid \| £			£ 2,349,000
Senior notes due 2022
Debt Instrument [Line Items]
Repayments of debt							$ 1,000,000,000
Debt instrument, interest rate, stated percentage																	5.25%
Term Loan \| Term Loan B \| Subsequent Event
Debt Instrument [Line Items]
Face amount	$ 800,000,000
Debt instrument, interest rate, effective percentage	3.25%
Debt instrument, term	7 years
Secured overnight financing rate floor	0.50%
Debt instrument, issuance price (in percentage)	99.75%
Debt instrument, quarterly principal payment, percentage	0.25%
Term Loan \| Term Loan B \| Secured Overnight Financing Rate \| Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%

SHAREHOLDERS' EQUITY - Narrative (Details)				3 Months Ended					12 Months Ended
SHAREHOLDERS' EQUITY - Narrative (Details)	Feb. 17, 2022 shares	Jan. 31, 2022 $ / shares	Jan. 30, 2020 shares	Dec. 31, 2021 USD ($) $ / shares shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares	Dec. 31, 2020 USD ($) executive $ / shares shares	Sep. 30, 2021 $ / shares	Aug. 01, 2018 USD ($)	Jan. 31, 2018 shares	Aug. 03, 2016 USD ($)
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share) \| $ / shares				$ 0.09				$ 0.08
Stock repurchase program, authorized amount \| $										$ 50,000,000		$ 50,000,000
Stock repurchase program, remaining authorized repurchase amount \| $				$ 57,955,000
Forecast
Class of Stock [Line Items]
Number of additional shares authorized for award (in shares)	1,200,000
Restricted Stock and Restricted Stock Units
Class of Stock [Line Items]
Equity instruments other than options, grants in period (in shares)								236,973
Restricted Stock and Restricted Stock Units, Subject to Performance Conditions
Class of Stock [Line Items]
Award vesting period								3 years
Equity instruments other than options, grants in period (in shares)								218,162
Equity instruments other than options, granted in period, fair value \| $								$ 6,285,000
Equity instruments other than options, grants in period, weighted average grant date fair value (in dollars per share) \| $ / shares								$ 28.81
Restricted Stock and Restricted Stock Units, Not Subject to Performance Conditions \| Executive Officer
Class of Stock [Line Items]
Award vesting period								3 years
Equity instruments other than options, grants in period (in shares)								18,811
Equity instruments other than options, granted in period, fair value \| $								$ 507,000
Equity instruments other than options, grants in period, weighted average grant date fair value (in dollars per share) \| $ / shares								$ 26.97
Number of executive officers granted shares \| executive								1
Restricted Stock
Class of Stock [Line Items]
Shares paid for tax withholding for share based compensation (in shares)				421,860
Shares paid for tax withholding for share based compensation, value \| $				$ 10,742,000
Shares paid for tax withholding for share based compensation, value per share (in dollars per share) \| $ / shares				$ 25.46
Restricted Stock \| Minimum
Class of Stock [Line Items]
Award vesting period				3 years
Restricted Stock \| Maximum
Class of Stock [Line Items]
Award vesting period				4 years
Restricted Stock Units
Class of Stock [Line Items]
Shares paid for tax withholding for share based compensation (in shares)				5,480
Shares paid for tax withholding for share based compensation, value \| $				$ 144,000
Shares paid for tax withholding for share based compensation, value per share (in dollars per share) \| $ / shares				$ 26.31
Restricted Stock Units \| Minimum
Class of Stock [Line Items]
Award vesting period				3 years
Restricted Stock Units \| Maximum
Class of Stock [Line Items]
Award vesting period				4 years
Incentive Plan
Class of Stock [Line Items]
Number of shares authorized for award (in shares)				5,050,000							1,000,000
Number of additional shares authorized for award (in shares)			1,700,000
Share-based compensation arrangement by share-based payment award, expiration period				10 years
Maximum percentage of exercise price at grant date fair value				100.00%
Number of shares available for grant (in shares)				378,905
Incentive Plan \| Incentive Stock Options
Class of Stock [Line Items]
Number of shares authorized for award (in shares)				600,000
Quarterly Dividend
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share) \| $ / shares				$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.32
Quarterly Dividend \| Subsequent Event
Class of Stock [Line Items]
Dividends declared, amount per share (in dollars per share) \| $ / shares		$ 0.09

SHAREHOLDERS' EQUITY - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Restricted stock	$ 3,890	$ 3,428
ESOP	977	780
Total stock based compensation	$ 4,867	$ 4,208

EARNINGS PER SHARE (EPS) (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Common shares outstanding (in shares)	56,304	56,490
Unallocated ESOP shares (in shares)	(1,816)	(2,010)
Non-vested restricted stock (in shares)	(2,869)	(3,687)
Impact of weighted average shares (in shares)	(441)	(197)
Weighted average shares outstanding - basic (in shares)	51,178	50,596
Incremental shares from stock based compensation (in shares)	2,575	2,596
Weighted average shares outstanding - diluted (in shares)	53,753	53,192

BUSINESS SEGMENTS - Revenues (Details) $ in Thousands	3 Months Ended
BUSINESS SEGMENTS - Revenues (Details) $ in Thousands	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Revenue	$ 591,749	$ 541,523
Less: Defense Electronics	(53,993)	(67,768)
Subtotal	645,742	609,291
Discontinued Operations, Held-for-sale \| Defense Electronics
Segment Reporting Information [Line Items]
Less: Defense Electronics	(53,993)	(67,768)
Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	283,173	291,042
Home and Building Products
Segment Reporting Information [Line Items]
Revenue	$ 308,576	$ 250,481

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

BUSINESS SEGMENTS - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 591,749	$ 541,523
United States
Disaggregation of Revenue [Line Items]
Revenue	459,475	419,973
Europe
Disaggregation of Revenue [Line Items]
Revenue	18,367	13,156
Canada
Disaggregation of Revenue [Line Items]
Revenue	34,641	33,603
Australia
Disaggregation of Revenue [Line Items]
Revenue	74,349	69,540
All other countries
Disaggregation of Revenue [Line Items]
Revenue	4,917	5,251
Consumer and Professional Products
Disaggregation of Revenue [Line Items]
Revenue	283,173	291,042
Consumer and Professional Products \| United States
Disaggregation of Revenue [Line Items]
Revenue	164,899	183,442
Consumer and Professional Products \| Europe
Disaggregation of Revenue [Line Items]
Revenue	18,330	13,156
Consumer and Professional Products \| Canada
Disaggregation of Revenue [Line Items]
Revenue	22,628	22,115
Consumer and Professional Products \| Australia
Disaggregation of Revenue [Line Items]
Revenue	74,349	69,540
Consumer and Professional Products \| All other countries
Disaggregation of Revenue [Line Items]
Revenue	2,967	2,789
Consumer and Professional Products \| Residential repair and remodel
Disaggregation of Revenue [Line Items]
Revenue	38,759	45,600
Consumer and Professional Products \| Retail
Disaggregation of Revenue [Line Items]
Revenue	130,235	139,248
Consumer and Professional Products \| Residential new construction
Disaggregation of Revenue [Line Items]
Revenue	10,327	13,515
Consumer and Professional Products \| Industrial
Disaggregation of Revenue [Line Items]
Revenue	11,306	9,531
Consumer and Professional Products \| International excluding North America
Disaggregation of Revenue [Line Items]
Revenue	92,546	83,148
Home and Building Products
Disaggregation of Revenue [Line Items]
Revenue	308,576	250,481
Home and Building Products \| United States
Disaggregation of Revenue [Line Items]
Revenue	294,576	236,531
Home and Building Products \| Europe
Disaggregation of Revenue [Line Items]
Revenue	37	0
Home and Building Products \| Canada
Disaggregation of Revenue [Line Items]
Revenue	12,013	11,488
Home and Building Products \| Australia
Disaggregation of Revenue [Line Items]
Revenue	0	0
Home and Building Products \| All other countries
Disaggregation of Revenue [Line Items]
Revenue	1,950	2,462
Home and Building Products \| Residential repair and remodel
Disaggregation of Revenue [Line Items]
Revenue	145,085	126,115
Home and Building Products \| Residential new construction
Disaggregation of Revenue [Line Items]
Revenue	32,702	28,427
Home and Building Products \| Commercial construction
Disaggregation of Revenue [Line Items]
Revenue	$ 130,789	$ 95,939

BUSINESS SEGMENTS - Segment EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 59,554	$ 68,453
Segment adjusted EBITDA	72,511	81,082
Depreciation and amortization	(13,081)	(12,590)
Proxy contest costs	(2,291)	0
Income before taxes from continuing operations	24,223	37,138
Discontinued Operations, Held-for-sale \| Defense Electronics
Segment Reporting Information [Line Items]
Defense Electronics	4,472	5,585
Operating Segments
Segment Reporting Information [Line Items]
Subtotal	76,983	86,667
Depreciation and amortization	(12,944)	(12,540)
Operating Segments \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	16,214	32,713
Depreciation and amortization	(8,606)	(8,199)
Operating Segments \| Home and Building Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	56,297	48,369
Depreciation and amortization	(4,338)	(4,341)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated amounts, excluding depreciation	(12,957)	(12,629)
Net interest expense	(15,648)	(15,646)
Depreciation and amortization	(13,081)	(12,590)
Restructuring charges	(1,716)	(3,079)
Acquisition costs	$ (2,595)	$ 0

BUSINESS SEGMENTS - Depreciation, Amortization and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	$ 13,081	$ 12,590
Subtotal	12,944	15,216
CAPITAL EXPENDITURES	10,573	9,022
Subtotal	11,332	11,926
Discontinued Operations, Held-for-sale \| Defense Electronics
Segment Reporting Information [Line Items]
Depreciation and amortization from Defense Electronics	0	2,676
Capital expenditure from Defense Electronics	853	2,904
Operating Segments
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	12,944	12,540
CAPITAL EXPENDITURES	10,479	9,022
Corporate
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	137	50
CAPITAL EXPENDITURES	94	0
Consumer and Professional Products \| Operating Segments
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	8,606	8,199
CAPITAL EXPENDITURES	7,130	6,907
Home and Building Products \| Operating Segments
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	4,338	4,341
CAPITAL EXPENDITURES	$ 3,349	$ 2,115

BUSINESS SEGMENTS - Summary of Segment Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Segment Reporting Information [Line Items]
Continuing assets	$ 2,317,271	$ 2,327,242
Discontinued operations	3,958	4,029
Total Assets	2,582,743	2,604,685
Discontinued Operations, Not Held-for-sale
Segment Reporting Information [Line Items]
Discontinued operations	3,958	4,029
Discontinued Operations, Held-for-sale
Segment Reporting Information [Line Items]
Discontinued operations	261,514	273,414
Operating Segments
Segment Reporting Information [Line Items]
Continuing assets	2,129,536	2,044,040
Operating Segments \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Continuing assets	1,443,527	1,377,618
Operating Segments \| Home and Building Products
Segment Reporting Information [Line Items]
Continuing assets	686,009	666,422
Corporate
Segment Reporting Information [Line Items]
Continuing assets	$ 187,735	$ 283,202

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Interest cost	$ 796	$ 744
Expected return on plan assets	(2,589)	(2,544)
Amortization:
Recognized actuarial loss	845	1,573
Net periodic expense (income)	$ (948)	$ (227)

DISCONTINUED OPERATIONS - Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 53,993	$ 67,768
Income from discontinued operations before taxes	3,014	2,031
Provision (benefit) for income taxes	621	(2,039)
Defense Electronics \| Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	53,993	67,768
Cost of goods and services	40,961	62,101
Gross profit	13,032	5,667
Selling, general and administrative expenses	10,020	9,942
Income from discontinued operations	3,012	(4,275)
Gain on sale of business	0	6,240
Other, net	2	66
Total other income (expense)	2	6,306
Income from discontinued operations before taxes	3,014	2,031
Provision (benefit) for income taxes	621	(2,039)
Income from discontinued operations	$ 2,393	$ 4,070

DISCONTINUED OPERATIONS - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended	24 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) position
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from disposed business	$ 53,993	$ 67,768
Restructuring charges	1,716	3,079
Liabilities of discontinued operations held-for-sale	6,835		$ 7,074	$ 7,074
Discontinued Operations \| Installation Services and Other Discontinued Activities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from disposed business	0	0
Discontinued Operations \| Defense Electronics
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consulting and stay bonuses cost	1,792
Pro forma depreciation and amortization from Defense Electronics	$ 2,700
Discontinued Operations \| Defense Electronics \| Voluntary Employee Retirement Plan and Reduction In Force
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges		2,200
Reduction of headcount \| position				90
Discontinued Operations \| Defense Electronics \| Exit of Older Weather Radar Product Lines
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business exit costs			$ 5,601
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations \| Systems Engineering Group, Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue from disposed business		$ 6,713

DISCONTINUED OPERATIONS - Balance Sheets Information of Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
CURRENT ASSETS
Prepaid and other current assets	$ 583	$ 605
ASSETS OF DISCONTINUED OPERATIONS	3,375	3,424
Total assets of discontinued operations	3,958	4,029
CURRENT LIABILITIES
Total liabilities of discontinued operations	6,835	7,074
Discontinued Operations, Held-for-sale
CURRENT ASSETS
Total assets of discontinued operations	261,514	273,414
Defense Electronics \| Discontinued Operations, Held-for-sale
CURRENT ASSETS
Accounts receivable, net	32,642	42,020
Contract assets, net of progress payments	69,043	72,983
Inventories	84,796	83,970
Prepaid and other current assets	4,363	4,409
PROPERTY, PLANT AND EQUIPMENT, net	46,205	45,371
OPERATING LEASE RIGHT-OF-USE ASSETS	1,167	1,167
GOODWILL	17,734	17,734
INTANGIBLE ASSETS, net	131	131
ASSETS OF DISCONTINUED OPERATIONS	5,433	5,629
Total assets of discontinued operations	261,514	273,414
CURRENT LIABILITIES
Accounts payable	55,661	60,486
Accrued liabilities	15,547	15,153
Current portion of operating lease liabilities	221	287
LONG-TERM OPERATING LEASE LIABILITIES	817	867
OTHER LIABILITIES	2,010	3,955
Total liabilities of discontinued operations	$ 74,256	$ 80,748

DISCONTINUED OPERATIONS - Balance Sheets Information of Installation Services and Other Discontinued Activities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Assets of discontinued operations:
Prepaid and other current assets	$ 583	$ 605
Other long-term assets	3,375	3,424
Total assets of discontinued operations	3,958	4,029
Liabilities of discontinued operations:
Accrued liabilities, current	3,095	3,280
Other long-term liabilities	3,740	3,794
Total liabilities of discontinued operations	$ 6,835	$ 7,074

RESTRUCTURING CHARGES - Narrative (Details) $ in Thousands		3 Months Ended
RESTRUCTURING CHARGES - Narrative (Details) $ in Thousands	Nov. 12, 2020 USD ($)	Dec. 31, 2021 USD ($) position	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 1,716		$ 3,079
Non-cash charges			$ 289
Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring charges				3,079
Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring costs		1,427		2,886
Non-cash charges		$ 289		193
Reduction of headcount \| position		0
Minimum \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Effects on EBITDA margin	0.12
Annual cash savings	$ 30,000
Reduction in inventory	30,000
Maximum \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Annual cash savings	35,000
Reduction in inventory	35,000
One-time charges \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	65,000
Capital investments \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	65,000
Cash charges \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	46,000
Personnel related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 260		362
Non-cash charges			0
Personnel related costs \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	26,000
Restructuring costs		260		362
Facilities & Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1,167		2,524
Non-cash charges			$ 0
Facilities & Exit Costs \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	20,000
Restructuring costs		$ 1,167		$ 2,524
Asset write-downs \| Next-generation Business Platform \| Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost	$ 19,000

RESTRUCTURING CHARGES - Summary of the Restructuring and Other Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,716	$ 3,079
Personnel related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	260	362
Facilities & Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,167	2,524
Facility and Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	289	193
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	322	541
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,394	$ 2,538

RESTRUCTURING CHARGES - Summary of Accrued Liability for the Restructuring and Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Jun. 30, 2021
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	$ 682
Restructuring charges		$ 1,716
Cash payment		(1,442)
Non-cash charges		(289)
Accrued liability ending balance		667
Personnel related costs
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	418
Restructuring charges		260
Cash payment		(275)
Non-cash charges		0
Accrued liability ending balance		403
Facilities & Exit Costs
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	264
Restructuring charges		1,167
Cash payment		(1,167)
Non-cash charges		0
Accrued liability ending balance		264
Facility and Other Costs
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	$ 0
Restructuring charges		289
Cash payment		0
Non-cash charges		(289)
Accrued liability ending balance		$ 0

OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands	3 Months Ended
OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Other income (expense)	$ 1,381	$ 357
Foreign currency transaction gain (loss), before tax	(394)	(699)
Net periodic benefit income	948	227
Investment income, net	93	330
Rental income	$ 462	$ 462

WARRANTY LIABILITY - Narrative (Details)	3 Months Ended
WARRANTY LIABILITY - Narrative (Details)	Dec. 31, 2021
Home and Building Products \| Minimum
Product Warranty Liability [Line Items]
Product warranty period	1 year
Home and Building Products \| Maximum
Product Warranty Liability [Line Items]
Product warranty period	10 years
CPP
Product Warranty Liability [Line Items]
Product warranty period	90 days

WARRANTY LIABILITY - Changes in Warrant Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance, beginning of period	$ 7,818	$ 6,268
Warranties issued and changes in estimated pre-existing warranties	3,461	3,576
Actual warranty costs incurred	(1,707)	(3,612)
Balance, end of period	$ 9,572	$ 6,232

OTHER COMPREHENSIVE INCOME (LOSS) - Summary of OCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	$ (3,044)	$ 13,290
Total other comprehensive income (loss), tax	293	(149)
Total other comprehensive income (loss), net of taxes	(2,751)	13,141
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	(2,319)	12,123
Total other comprehensive income (loss), tax	0	0
Total other comprehensive income (loss), net of taxes	(2,319)	12,123
Pension and other defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	846	2,150
Total other comprehensive income (loss), tax	(178)	(444)
Total other comprehensive income (loss), net of taxes	668	1,706
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	(1,571)	(983)
Total other comprehensive income (loss), tax	471	295
Total other comprehensive income (loss), net of taxes	$ (1,100)	$ (688)

- Definition

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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+ Details

OTHER COMPREHENSIVE INCOME (LOSS) - AOCI (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ 812,385	$ 807,158	$ 740,047	$ 700,151
Foreign currency translation adjustments
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(21,569)	(19,250)
Pension and other defined benefit plans
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(28,134)	(28,802)
Cash flow hedges
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	975	2,075
Accumulated other comprehensive income (loss), attributable to parent
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ (48,728)	$ (45,977)	$ (58,951)	$ (72,092)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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OTHER COMPREHENSIVE INCOME (LOSS) - Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes from continuing operations	$ 24,223	$ 37,138
Tax benefit (expense)	(7,318)	(11,708)
Net income	19,298	29,500
Accumulated other comprehensive income (loss), attributable to parent \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes from continuing operations	688	(2,231)
Tax benefit (expense)	(144)	469
Net income	544	(1,762)
Pension and other defined benefit plans \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes from continuing operations	(845)	(1,573)
Cash flow hedges \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes from continuing operations	$ 1,533	$ (658)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lease Cost
Fixed	$ 9,747	$ 9,491
Variable	1,852	1,894
Short-term	1,349	1,070
Total	$ 12,948	$ 12,455

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 10,844	$ 10,609
Financing cash flows from finance leases	753	803
Total	$ 11,597	$ 11,412

LEASES - Summary of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Operating Leases:
Operating right-of-use assets	$ 141,406	$ 144,598
Lease Liabilities:
Current portion of operating lease liabilities	28,932	29,881
Long-term operating lease liabilities	117,189	119,315
Total operating lease liabilities	146,121	149,196
Finance Leases:
Property, plant and equipment, net	$ 15,719	$ 16,466
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	PROPERTY, PLANT AND EQUIPMENT, net	PROPERTY, PLANT AND EQUIPMENT, net
Lease Liabilities:
Lease liabilities, notes payable and current portion of long-term debt	$ 2,359	$ 2,347
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Notes payable and current portion of long-term debt	Notes payable and current portion of long-term debt
Lease liabilities, long-term debt, net	$ 13,569	$ 14,120
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtNoncurrent	us-gaap:LongTermDebtNoncurrent
Total financing lease liabilities	$ 15,928	$ 16,467
Accumulated depreciation	$ 3,961	$ 6,136

LEASES - Narrative (Details)	3 Months Ended
LEASES - Narrative (Details)	Dec. 31, 2021 USD ($) renewalOption	Sep. 30, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Long-term debt	$ 1,053,430,000	$ 1,045,683,000
Finance Lease Obligation
Lessee, Lease, Description [Line Items]
Long-term debt	$ 14,083,000	$ 14,590,000
Troy, Ohio
Lessee, Lease, Description [Line Items]
Percentage bearing fixed interest, percentage rate	5.00%
Lessee, finance lease buyout amount	$ 1
Ocala, Florida
Lessee, Lease, Description [Line Items]
Percentage bearing fixed interest, percentage rate	5.60%
Number of option to extend \| renewalOption	2
Lease renewal term	5 years

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

LEASES - Summary of Future Maturities of Lease Payments for Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021
Operating Leases
2022	$ 26,927
2023	29,265
2024	22,123
2025	19,790
2026	13,554
2027	10,766
Thereafter	54,382
Total lease payments	176,807
Less: Imputed Interest	(30,686)
Present value of lease liabilities	146,121	$ 149,196
Finance Leases
2022	2,362
2023	2,876
2024	2,312
2025	2,124
2026	2,106
2027	2,074
Thereafter	5,703
Total lease payments	19,557
Less: Imputed Interest	(3,629)
Present value of lease liabilities	$ 15,928	$ 16,467

LEASES - Weighted Average Lease Terms and Discount Rates (Details)	Dec. 31, 2021
Weighted-average remaining lease term (years)
Operating leases	8 years
Finance Leases	7 years 10 months 24 days
Weighted-average discount rate
Operating Leases	4.45%
Finance Leases	5.49%

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Site contingency, ownership period	3 years