0000050725-23-000055 | 10-K | XBRL Viewer

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ACQUISITIONS - Narrative (Details) $ in Thousands, $ in Thousands				12 Months Ended
	Jan. 24, 2022 USD ($)	Dec. 22, 2020 USD ($)	Dec. 22, 2020 AUD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 22, 2020 AUD ($)
Business Acquisition [Line Items]
Goodwill				$ 327,864	$ 335,790	$ 426,148
Business acquisition, tax rate used to calculate pro forma amount				25.70%
Acquisition related costs				$ 0	$ 9,303	$ 0
Hunter Fan Company
Business Acquisition [Line Items]
Business acquisition, tax rate used to calculate pro forma amount				27.10%
Term Loan B due 2029 \| Term Loan
Business Acquisition [Line Items]
Debt instrument, face amount	$ 800,000
Debt instrument, term	7 years
Hunter Fan Company
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 845,000
Goodwill	250,711
Intangible assets	$ 616,000
Quatro Design Pty Ltd
Business Acquisition [Line Items]
Goodwill		$ 784					$ 1,038
Cash payment to acquire business		2,700	$ 3,500
Intangible assets		$ 2,082					$ 2,755

STOCKHOLDERS' EQUITY AND EQUITY COMPENSATION

12 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

STOCKHOLDERS’ EQUITY AND EQUITY COMPENSATION

During 2023, 2022 and 2021, the Company declared and paid, in quarterly increments, cash dividends totaling $0.45 per share (two quarterly dividends of $0.10 and two quarterly dividends of $0.125), $0.36 per share and $0.32 per share, respectively. Furthermore, on April 19, 2023, the Board of Directors declared a special cash dividend of $2.00 per share, paid on May 19, 2023 to shareholders of record as of the close of business on May 9, 2023. On June 27, 2022, the Board of Directors declared a special cash dividend of $2.00 per share, paid on July 20, 2022. The Company currently intends to pay dividends each quarter; however, payment of dividends is determined by the Board of Directors at its discretion based on various factors, and no assurance can be provided as to the payment of future dividends. Dividends paid on shares in the ESOP were used to offset ESOP loan payments and recorded as a reduction of debt service payments and compensation expense. For all dividends, a dividend payable was established for the holders of restricted shares; such dividends will be released upon vesting of the underlying restricted shares. At September, 30, 2023, accrued dividends were $14,985.

On November 14, 2023, the Board of Directors declared a cash dividend of $0.15 per share, payable on December 14, 2023 to shareholders of record as of the close of business on November 28, 2023.

On January 29, 2016, shareholders approved the Griffon Corporation 2016 Equity Incentive Plan (the "Original Incentive Plan") pursuant to which, among other things, 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 Original Incentive Plan pursuant to which, among other things, 1,000,000 shares were added to the Original Incentive Plan; and on January 30, 2020, shareholders approved Amendment No. 2 to the Original Incentive Plan, pursuant to which 1,700,000 shares were added to the Original Incentive Plan. On February 17, 2022, shareholders approved the Amended and Restated 2016 Equity Incentive Plan (the “Amended Incentive Plan”), which amended and restated the Original Incentive Plan and pursuant to which, among other things, 1,200,000 shares were added to the Original Incentive Plan. Options granted under the Amended Incentive Plan may be either “incentive stock options” or nonqualified stock options, which 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 Amended Incentive Plan is 6,250,000 (600,000 of which may be issued as incentive stock options), plus (i) any shares that were reserved for issuance under the Original Incentive Plan as of the effective date of the Original Incentive Plan, and (ii) any shares underlying awards outstanding on such date under the 2011 Incentive Plan that were subsequently canceled or forfeited. As of September 30, 2023, 328,473 shares were 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 or units granted multiplied by the stock price on date of grant, and for performance shares, including performance units, the likelihood of achieving the performance criteria. The Company recognizes forfeitures as they occur. 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 Selling, general and administrative expenses.

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


	For the Years Ended September 30,
	2023		2022		2021
Restricted stock	$	20,529	$	18,810	$	16,410
ESOP(1)	20,583		14,325		3,678
Total stock-based compensation	$	41,112	$	33,135	$	20,088

________________________

(1) During the year ended September 30, 2023 and 2022, special dividend ESOP charges included in compensation expense were $15,494 and $10,538, respectively.

A summary of restricted stock activity, inclusive of restricted stock units, for 2023 is as follows:


	Shares	Weighted Average Grant- Date Fair Value
Unvested at September 30, 2022	3,703,567	$	24.70
Granted	506,649	29.73
Vested	(961,119)	35.60
Forfeited	—	—
Unvested at September 30, 2023	3,249,097	20.40

The fair value of restricted stock which vested during 2023, 2022, and 2021 was $34,214, $25,863 and $10,627, respectively.

Unrecognized compensation expense related to non-vested shares of restricted stock was $23,067 at September 30, 2023 and will be recognized over a weighted average vesting period of 1.6 years.

At September 30, 2023, a total of approximately 3,577,570 shares of Griffon’s authorized Common Stock were reserved for issuance in connection with stock compensation plans.

During 2023, Griffon granted 466,677 shares of restricted stock and restricted stock units to its employees. This included 249,480 shares of restricted stock and 11,901 restricted stock units granted to forty-four executives and key employees, subject to certain performance conditions, with a vesting period of 36 months with a total fair value of $8,385, or a weighted average fair value of $33.61 per share. This also included 205,296 shares of restricted stock granted to two senior executives with a vesting period of thirty-six months and a two-year post-vesting holding period, subject to the achievement of certain performance conditions relating to required levels of return on invested capital and the relative total shareholder return of Griffon's common stock as compared to a market index. So long as the minimum performance conditions are attained, the amount of shares that can vest will range from 51,324 to 205,296, with the target number of shares being 102,648. The total fair value of these restricted shares using the Monte Carlo Simulation model, assuming achievement of the performance conditions at target, is approximately $3,648, or a weighted average fair value of $35.54 per share. Additionally, Griffon granted 39,972 restricted shares to the non-employee directors of Griffon with a vesting period of one year and a fair value of $1,211, or a weighted average fair value of $30.29 per share. During the year ended September 30, 2023, 494,748 shares granted were issued out of treasury stock.

On November 14, 2023, Griffon granted 174,104 shares of restricted stock and restricted stock units to 43 executives and key employees, subject to certain performance conditions, with a vesting period of thirty-six months, with a total fair value of $8,225, or a weighted average fair value of $47.24 per share.

On April 19, 2023, the Company's Board of Directors approved a $200,000 increase to Griffon's share repurchase program to $257,955 from the prior unused authorization of $57,955. Under the authorized share repurchase program, the Company may, from time to time, purchase shares of its common stock in the open market, including pursuant to a 10b5-1 plan, pursuant to an accelerated share repurchase program or issuer tender offer, or in privately negotiated transactions. During the year ended September 30, 2023, Griffon purchased 4,142,794 shares of common stock under these repurchase programs, for a total of $150,772, or $36.39 per share, excluding excise taxes. As of September 30, 2023, $107,183 remains under these Board authorized repurchase programs. In connection with the share repurchases, excise taxes totaling $1,301 were accrued as of September 30, 2023.

On September 5, 2023, Griffon repurchased 400,000 shares of its common stock, par value $0.25 per share, beneficially owned by two separately managed accounts of which Voss Capital, LLC is the investment manager (the “Selling Shareholders”), in a private transaction to facilitate redemptions by investors in the Selling Shareholders. The purchase price per share was approximately $41.87, for an aggregate purchase price of $16,746. The Selling Shareholders are affiliates of Voss Capital, LLC. Travis W. Cocke, the Founder, Chief Investment Officer and Managing Member of Voss Capital, LLC, is a member of the Board of Directors of the Company. These shares are included in the total shares purchased in the previous paragraph.

Subsequent to September 30, 2023 and through November 14, 2023, Griffon purchased 1,127,062 shares of common stock for a total of $44,980, or $39.91 per share under these Board authorized repurchase programs. On November 15, 2023, Griffon announced a $200,000 increase to its share repurchase program which on November 15, 2023 had $262,203 available given effect to all repurchases through November 14, 2023.

During the year ended September 30, 2023, 365,823 shares, with a market value of $12,882, or $35.21 per share, were withheld to settle employee taxes due upon the vesting of restricted stock, and were added to treasury stock. Furthermore, during 2023, an additional 3,066 shares, with a market value of $108, or $35.31 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 equity.

+ References

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+ Details

OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands	12 Months Ended
OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Other Income and Expenses [Abstract]
Other income (expense)	$ 2,928	$ 6,881	$ 2,107
Currency exchange gains (losses)	302	305	(81)
Investment income (loss)	469	(225)	283
Net periodic benefit cost (credit)	866	(4,256)	(907)
Rental income	212	689	$ 624
Royalty income	$ 2,104	$ 2,250

EMPLOYEE BENEFIT PLANS - Plan assets and benefit obligation of the defined benefit plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Change in plan assets:
Fair value of plan assets at beginning of fiscal year	$ 144,091
Fair value of plan assets at end of fiscal year	146,997	$ 144,091
Pension Plan
Change in benefit obligation:
Benefit obligation at beginning of fiscal year	149,021	170,505
Business acquisition	0	21,839
Interest cost	6,814	3,448	$ 2,816
Benefits paid	(11,541)	(11,281)
Actuarial (gain) loss	(5,070)	(35,490)
Benefit obligation at end of fiscal year	139,224	149,021	170,505
Change in plan assets:
Fair value of plan assets at beginning of fiscal year	144,091	160,523
Business acquisition	0	22,288
Actual return on plan assets	12,232	(27,439)
Company contributions	2,215	0
Benefits paid	(11,541)	(11,281)
Fair value of plan assets at end of fiscal year	146,997	144,091	160,523
Projected benefit obligation in excess of plan assets	7,773	(4,930)
Amounts recognized in the statement of financial position consist of:
Non-Current Assets	7,773	1,108
Accrued liabilities	0	0
Other liabilities (long-term)	0	(6,038)
Total Liabilities	7,773	(4,930)
Net actuarial losses	28,279	38,682
Prior service cost	0	0
Deferred taxes	(5,939)	(8,123)
Total Accumulated other comprehensive loss, net of tax	22,340	30,559
Net amount recognized at September 30,	30,113	25,629
Accumulated benefit obligations	139,224	149,021
Information for plans with accumulated benefit obligations in excess of plan assets:
ABO	139,224	149,021
PBO	139,224	149,021
Fair value of plan assets	146,997	144,091
Supplemental Employee Retirement Plan
Change in benefit obligation:
Benefit obligation at beginning of fiscal year	11,922	14,775
Business acquisition	0	0
Interest cost	488	172	162
Benefits paid	(1,907)	(1,927)
Actuarial (gain) loss	379	(1,098)
Benefit obligation at end of fiscal year	10,882	11,922	14,775
Change in plan assets:
Fair value of plan assets at beginning of fiscal year	0	0
Business acquisition	0	0
Actual return on plan assets	0	0
Company contributions	1,907	1,927
Benefits paid	(1,907)	(1,927)
Fair value of plan assets at end of fiscal year	0	0	$ 0
Projected benefit obligation in excess of plan assets	(10,882)	(11,922)
Amounts recognized in the statement of financial position consist of:
Non-Current Assets	0	0
Accrued liabilities	(1,834)	(1,866)
Other liabilities (long-term)	(9,048)	(10,056)
Total Liabilities	(10,882)	(11,922)
Net actuarial losses	5,919	6,003
Prior service cost	0	0
Deferred taxes	(2,873)	(1,261)
Total Accumulated other comprehensive loss, net of tax	3,046	4,742
Net amount recognized at September 30,	(7,836)	(7,180)
Accumulated benefit obligations	10,882	11,922
Information for plans with accumulated benefit obligations in excess of plan assets:
ABO	10,882	11,922
PBO	10,882	11,922
Fair value of plan assets	$ 0	$ 0

OTHER COMPREHENSIVE INCOME (LOSS) - Summary of other comprehensive income (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	$ 13,502	$ (36,504)	$ 31,710
Tax	(774)	(257)	(5,595)
Total other comprehensive income (loss), net of taxes	12,728	(36,761)	26,115
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	8,447	(37,920)	6,433
Tax	0	0	0
Total other comprehensive income (loss), net of taxes	8,447	(37,920)	6,433
Pension and other defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	8,418	1,907	22,583
Tax	(1,784)	(404)	(4,787)
Total other comprehensive income (loss), net of taxes	6,634	1,503	17,796
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax	(3,363)	(491)	2,694
Tax	1,010	147	(808)
Total other comprehensive income (loss), net of taxes	$ (2,353)	$ (344)	$ 1,886

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LEASES (Tables)

12 Months Ended

Sep. 30, 2023

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 Year Ended September 30,
	2023		2022		2021
Fixed	$	45,993	$	44,457	$	38,362
Variable (a), (b)	10,654		8,615		7,573
Short-term (b)	7,717		7,438		4,210
Total	$	64,364	$	60,510	$	50,145

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

(b) Not recorded on the balance sheet.

Supplemental cash flow information were as follows:


	For the Year Ended September 30,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	41,533	$	47,275	$	43,444
Financing cash flows from finance leases	2,164		2,462		3,815
Total	$	43,697	$	49,737	$	47,259

Average lease terms and discount rates were as follows:


	As of September 30,
	2023		2022
Weighted-average remaining lease term (years)
Operating Leases	7.9		8.4
Finance Leases	3.3		7.4

Weighted-average discount rate
Operating Leases	5.94	%	5.47	%
Finance Leases	5.65	%	5.51	%

Supplemental Condensed Consolidated Balance Sheet Information

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


	As of September 30,
	2023		2022
Operating Leases:
Right of use assets:
Operating right-of-use assets	$	169,942	$	183,398

Lease Liabilities:
Current portion of operating lease liabilities	$	32,632	$	31,680
Long-term operating lease liabilities	147,224		159,414
Total operating lease liabilities	$	179,856	$	191,094

Finance Leases:
Right of use assets:
Property, plant and equipment, net(1)	$	994	$	13,696

Lease Liabilities:
Notes payable and current portion of long-term debt	$	280	$	2,065
Long-term debt, net	184		11,995
Total financing lease liabilities	$	464	$	14,060

(1) For the years ended September 30, 2023 and 2022, finance lease assets are recorded net of accumulated depreciation of $6,769 and $4,972, 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 September 30, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases
2024	$	41,955	$	297
2025	35,233		123
2026	26,504		65
2027	22,473		4
2028	18,185		—
Thereafter	83,456		—

Total lease payments	227,806		489
Less: Imputed Interest	(47,950)		(25)
Present value of lease liabilities	$	179,856	$	464

Aggregate Future Maturities of Lease Payments for Finance Leases

The aggregate future maturities of lease payments for operating leases and finance leases as of September 30, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases
2024	$	41,955	$	297
2025	35,233		123
2026	26,504		65
2027	22,473		4
2028	18,185		—
Thereafter	83,456		—

Total lease payments	227,806		489
Less: Imputed Interest	(47,950)		(25)
Present value of lease liabilities	$	179,856	$	464

LONG-TERM DEBT - Narrative (Details) $ in Thousands		1 Months Ended			12 Months Ended
LONG-TERM DEBT - Narrative (Details) $ in Thousands	Jan. 24, 2022 USD ($)	Jul. 31, 2018 USD ($)	Jul. 31, 2018 GBP (£)	Nov. 30, 2012	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 AUD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2023 CAD ($)	Sep. 30, 2023 AUD ($)	Sep. 28, 2023 USD ($)	Aug. 01, 2023 USD ($)	Jul. 31, 2023 USD ($)	Mar. 01, 2023 AUD ($)	Feb. 28, 2023 AUD ($)	Sep. 30, 2022 AUD ($)	Nov. 30, 2021 USD ($)	Jul. 31, 2016 AUD ($)
Debt Instrument [Line Items]
Minimum payments under debt agreements for 2024					$ 9,625,000
Minimum payments under debt agreements for 2025					8,153,000
Minimum payments under debt agreements for 2026					8,026,000
Minimum payments under debt agreements for 2027					8,005,000
Minimum payments under debt agreements for 2028					1,033,220,000
Minimum payments under debt agreements thereafter					422,783,000
Capitalized fees & expenses					19,579,000	$ 21,031,000
Long-term debt, gross					1,489,812,000	1,595,560,000
Gain (loss) from debt extinguishment					(437,000)	$ (4,529,000)		$ 0
Revolver due 2028
Debt Instrument [Line Items]
Maximum borrowing capacity													$ 500,000,000	$ 400,000,000
Letters of credit outstanding, amount					12,962,000
Line of credit facility, remaining borrowing capacity					$ 436,593,000
Maximum percentage of equity interest of subsidiaries borrowings guaranteed						65.00%	65.00%
Revolver Due 2025, SOFR Loan
Debt Instrument [Line Items]
Debt instrument, interest rate at period end					7.42%					7.42%	7.42%
Revolver Due 2025, SONIA Loan
Debt Instrument [Line Items]
Debt instrument, interest rate at period end					7.22%					7.22%	7.22%
Revolver Due 2025, Base Rate Loan
Debt Instrument [Line Items]
Debt instrument, interest rate at period end					9.50%					9.50%	9.50%
Term Loan \| Griffon Australia
Debt Instrument [Line Items]
Debt instrument, face amount																			$ 18,375,000
Repayments of debt							$ 9,625,000
Term Loan \| Ames UK
Debt Instrument [Line Items]
Debt instrument, face amount \| £			£ 14,000,000
Revolving Credit Facility \| Griffon Australia
Debt Instrument [Line Items]
Maximum borrowing capacity																			20,000,000
Line of credit facility, cancelled amount																	$ 20,000,000
Revolving Credit Facility \| Ames UK
Debt Instrument [Line Items]
Debt instrument, face amount \| £			5,000,000
Line of credit facility, amount outstanding														0
Letter of Credit Subfacility \| Revolver due 2028
Debt Instrument [Line Items]
Maximum borrowing capacity													125,000,000	100,000,000
Line of credit facility, incremental minimum borrowing amount													500,000,000	$ 375,000,000
Multicurrency Subfacility \| Revolver due 2028
Debt Instrument [Line Items]
Maximum borrowing capacity													$ 200,000,000
Receivables Purchase Facility \| Griffon Australia
Debt Instrument [Line Items]
Debt instrument, face amount																			$ 15,000,000
Maximum borrowing capacity											$ 30,000,000				$ 30,000,000	$ 15,000,000
Debt instrument, interest rate at period end					5.33%					5.33%	5.33%
Line of credit facility, remaining borrowing capacity					$ 19,188,000
Line of credit facility, amount outstanding					0
Senior Notes \| Senior Notes due 2028
Debt Instrument [Line Items]
Debt instrument, face amount									$ 1,000,000,000
Stated percentage									5.75%
Capitalized fees & expenses									$ 16,448,000
Debt instrument, repurchased face amount						$ 25,225,000
Repurchase of debt instrument, discount rate						91.82%											91.82%
Debt instrument, repurchase amount						$ 23,161,000
Gain (loss) on repurchase of debt instrument						1,767,000
Gain (loss) on extinguishment of debt, before write off of debt issuance cost						2,064,000
Write off of deferred debt issuance cost						297,000
Debt issuance costs, net					8,920,000
Senior Notes \| Senior Notes due 2028 \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Debt Instrument [Line Items]
Long-term debt, fair value					882,171,000
Senior Notes \| Senior notes due 2022
Debt Instrument [Line Items]
Repayments of debt									$ 1,000,000,000
Stated percentage									5.25%
Revolver due 2028
Debt Instrument [Line Items]
Capitalized fees & expenses					3,606,000
Long-term debt, gross					50,445,000
Term Loan B due 2029
Debt Instrument [Line Items]
Capitalized fees & expenses					7,039,000	8,823,000
Long-term debt, gross					463,000,000	496,000,000
Term Loan B due 2029 \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Debt Instrument [Line Items]
Long-term debt, fair value					461,843,000
Term Loan \| Ames UK
Debt Instrument [Line Items]
Repayments of debt		$ 9,543,000	7,525,000
Term Loan \| Term Loan B due 2029
Debt Instrument [Line Items]
Debt instrument, face amount	$ 800,000,000
Repayments of debt					25,000,000	300,000,000
Capitalized fees & expenses	$ 15,466,000
Debt issuance costs, net					7,039,000
S0FR floor rate	0.50%
Issuance price, percentage	99.75%
Debt instrument, periodic payment, principal	$ 2,000,000
Gain (loss) from debt extinguishment					(437,000)	(6,296,000)
Write off of deferred debt issuance cost, underwriting and other fees					386,000	5,575,000
Write off of deferred debt issuance cost, original issuer discount					$ 51,000	721,000
Debt instrument, interest rate at period end					7.79%					7.79%	7.79%
Finance lease - real estate
Debt Instrument [Line Items]
Capitalized fees & expenses						0
Long-term debt, gross						$ 13,091,000
Non U.S. lines of credit
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 11,117,000					$ 15,000
Debt instrument, basis spread on variable rate				1.30%
Line of credit facility, remaining borrowing capacity					11,117,000					$ 15,000
Line of credit facility, amount outstanding					$ 0
Mortgages \| Ames UK
Debt Instrument [Line Items]
Debt instrument, face amount \| £			4,000,000
Repayments of debt		$ 3,108,000	£ 2,451,000
Secured Overnight Financing Rate \| Revolver Due 2025, SOFR Loan
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						2.00%	2.00%
Secured Overnight Financing Rate \| Term Loan \| Term Loan B due 2029
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Base Rate \| Revolver Due 2025, Base Rate Loan
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						1.00%	1.00%
Canada Dollar Offer Rate \| Non U.S. lines of credit
Debt Instrument [Line Items]
Line of credit facility, interest rate at period end					6.69%					6.69%	6.69%
Bankers Acceptance Rate \| Non U.S. lines of credit
Debt Instrument [Line Items]
Line of credit facility, interest rate at period end					6.43%					6.43%	6.43%
Bank Bill Swap Bid Rate \| Receivables Purchase Facility \| Griffon Australia
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						1.25%	1.25%
Sterling Overnight Index Average \| Revolver Due 2025, SONIA Loan
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					2.00%
Ocala, Florida \| Finance lease - real estate
Debt Instrument [Line Items]
Payment to acquire leased property												$ 23,207,000
Long-term debt, percentage bearing fixed interest, percentage rate												5.60%
Troy, Ohio
Debt Instrument [Line Items]
Finance lease, buyout amount						$ 1												$ 1
Troy, Ohio \| Finance lease - real estate
Debt Instrument [Line Items]
Long-term debt, percentage bearing fixed interest, percentage rate						5.00%											5.00%

INCOME TAXES - Components of net deferred tax asset (liability), by balance sheet account (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Income Tax Contingency [Line Items]
Net deferred liability	$ (95,691)	$ (137,101)
Other assets
Income Tax Contingency [Line Items]
Net deferred asset	617	339
Other liabilities
Income Tax Contingency [Line Items]
Net deferred liability	(97,440)	(139,417)
Liabilities of discontinued operations
Income Tax Contingency [Line Items]
Net deferred asset	$ 1,132	$ 1,977

INVENTORIES - Summary of inventories stated at lower cost (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 127,342	$ 173,520
Work in process	12,070	50,963
Finished goods	367,718	444,710
Total	$ 507,130	$ 669,193

GOODWILL AND INTANGIBLES

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES

Goodwill at September 30, 2023 and 2022 was $327,864 and $335,790, respectively.

For the fiscal year ended September 30, 2023, the Company performed a quantitative assessment of the CPP reporting units using both an income-based and market-based approach, which did not result in a goodwill impairment. For the HBP reporting unit, we performed a qualitative assessment and determined that indicators that fair value was less than the carrying amount were not present.

For the fiscal year ended September 30, 2022, we performed a qualitative assessment of the HBP reporting unit and determined that indicators that the fair value was less than the carrying amount were not present. However, indicators of impairment were present for our CPP reporting units driven by a decrease in comparable company market multiples and an increase in interest rates and the related impact on weighted average cost of capital rates. As such, in connection with the preparation of our financial statements for the fiscal year ended September 30, 2022, we performed a quantitative assessment of the CPP reporting units using both an income based and market-based valuation approach. The impairment tests resulted in a pre-tax, non-cash goodwill impairment charge of $342,027 to the CPP reporting units.

The following table provides a summary of the carrying value of goodwill by segment as of September 30, 2023, 2022 and 2021.


	At September 30, 2021		Goodwill from acquisitions (a)		Accumulated Impairment Charges		Foreign currency translation adjustments		At September 30, 2022		Goodwill from acquisitions (a)		Foreign currency translation adjustments		At September 30, 2023
Consumer and Professional Products	$	234,895	$	258,536	$	(342,027)	$	(6,867)	$	144,537	$	(7,926)	$	—	$	136,611
Home and Building Products	191,253		—		—		—		191,253		—		—		191,253

Total	$	426,148	$	258,536	$	(342,027)	$	(6,867)	$	335,790	$	(7,926)	$	—	$	327,864

(a) The change in the CPP segment was due to the acquisitions of Hunter in 2022.

During the fiscal year ended September 30, 2023, the Company compared the estimated fair values of its CPP indefinite-lived intangibles to their carrying amounts using a relief from royalty method, which estimates the value of a trademark by discounting to present value the hypothetical royalty payments that are saved by owning the asset rather than licensing it. The Company then compared the estimated fair values of each trademark to their carrying amounts. The impairment tests resulted in pre-tax noncash impairment charges of $109,200 to the gross carrying amount of our trademarks, of which $9,200 was recognized in the fourth quarter and $100,000 was recognized in the second quarter. Indicators of impairment were not present for the HBP indefinite-lived intangibles during 2023.

For the fiscal year ended September 30, 2022, we determined the fair values of CPP's indefinite-lived intangible assets by using the relief from royalty method, as described above. We then compared the estimated fair values to their carrying amounts. The impairment tests resulted in a pre-tax, non-cash impairment charge of $175,000 to the gross carrying amount of our CPP trademarks. Indicators of impairment were not present for the HBP indefinite-lived intangibles during 2022.

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


	At September 30, 2023					At September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	443,164	$	113,057	23	$	442,085	$	91,143
Unpatented technology	15,504		3,815		13	14,326		3,022
Total amortizable intangible assets	458,668		116,872			456,411		94,165
Trademarks	293,447		—			399,668		—
Total intangible assets	$	752,115	$	116,872		$	856,079	$	94,165

In 2023, the gross carrying amount of intangible assets was impacted by $5,236 related to foreign currency translation.

Amortization expense for intangible assets subject to amortization was $22,389, $18,215 and $9,561 in 2023, 2022 and 2021, respectively. Amortization expense for each of the next five years and thereafter, based on current intangible balances and classifications, is estimated as follows: 2024 - $21,354; 2025 - $21,354; 2026 - $21,354; 2027 - $21,354 and 2028 - $21,354; thereafter - $235,026.

REPORTABLE SEGMENTS - Schedule of disaggregated revenue by geographic region (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 2,685,183	$ 2,848,488	$ 2,270,626
Home and Building Products
Segment Reporting Information [Line Items]
Revenue	1,588,505	1,506,882	1,041,108
Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	1,096,678	1,341,606	1,229,518
United States
Segment Reporting Information [Line Items]
Revenue	2,231,577	2,296,041	1,753,075
United States \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	1,515,479	1,437,085	986,925
United States \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	716,098	858,956	766,150
Europe
Segment Reporting Information [Line Items]
Revenue	51,059	106,531	123,679
Europe \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	18	60	72
Europe \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	51,041	106,471	123,607
Canada
Segment Reporting Information [Line Items]
Revenue	138,374	150,846	130,337
Canada \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	62,897	57,916	44,661
Canada \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	75,477	92,930	85,676
Australia
Segment Reporting Information [Line Items]
Revenue	231,764	258,945	244,674
Australia \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	0	0	0
Australia \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	231,764	258,945	244,674
All other countries
Segment Reporting Information [Line Items]
Revenue	32,409	36,125	18,861
All other countries \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	10,111	11,821	9,450
All other countries \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	$ 22,298	$ 24,304	$ 9,411

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands				1 Months Ended	12 Months Ended
	Nov. 15, 2023 USD ($)	Nov. 14, 2023 USD ($) executive $ / shares shares	Apr. 19, 2023 USD ($)	Nov. 14, 2023 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Apr. 18, 2023 USD ($)
Subsequent Event [Line Items]
Stock repurchased during period (in shares) \| shares					4,142,794
Stock repurchased during period					$ 150,772
Shares acquired, average cost per share (in dollars per share) \| $ / shares					$ 36.39
Stock repurchase program, authorized amount, period income (decrease)			$ 200,000
Stock repurchase program, remaining authorized repurchase amount			$ 257,955		$ 107,183	$ 57,955
Subsequent Event
Subsequent Event [Line Items]
Dividends payable, amount per share (in dollars per share) \| $ / shares		$ 0.15		$ 0.15
Stock repurchased during period (in shares) \| shares				1,127,062
Stock repurchased during period				$ 44,980
Shares acquired, average cost per share (in dollars per share) \| $ / shares				$ 39.91
Stock repurchase program, authorized amount, period income (decrease)	$ 200,000
Stock repurchase program, remaining authorized repurchase amount	$ 262,203
Subsequent Event \| Restricted Stock and Restricted Stock Units, Subject To Performance Conditions
Subsequent Event [Line Items]
Instruments grants in period (in shares) \| shares		174,104
Share-based payment award, award vesting period		36 months
Subsequent Event \| Restricted Stock and Restricted Stock Units, Subject To Performance Conditions \| Executive Officer and Key Employees
Subsequent Event [Line Items]
Instruments number of persons granted shares (in shares) \| executive		43
Instruments vested in period, fair value		$ 8,225
Granted (in dollars per share) \| $ / shares		$ 47.24

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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


	At September 30, 2023		At September 30, 2022
Land, building and building improvements	$	169,923	$	159,693
Machinery and equipment	447,972		511,779
Leasehold improvements	33,740		35,489
	651,635		706,961
Accumulated depreciation and amortization	(372,417)		(412,400)
Total	$	279,218	$	294,561

ACQUISITIONS - Schedule of assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Jan. 24, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Goodwill	$ 327,864	$ 335,790		$ 426,148
Hunter Fan Company
Business Acquisition [Line Items]
Accounts receivable			$ 64,602
Inventories			110,299
Other current assets			7,940
Property, plant and equipment			15,007
Operating lease right-of-use assets			12,447
Goodwill			250,711
Intangible assets			616,000
Total assets acquired			1,077,006
Accounts payable and accrued liabilities			70,039
Current portion of operating lease liabilities			3,323
Deferred tax liability			139,219
Long-term operating lease liabilities			9,123
Other long-term liabilities			3,848
Total liabilities assumed			225,552
Total net assets acquired			851,454
Receivables gross			67,201
Allowance for accounts receivable			2,599
Inventory, gross			113,287
Inventory valuation reserves			$ 2,988

STOCKHOLDERS' EQUITY AND EQUITY COMPENSATION - Summary of restricted stock activity (Details)	12 Months Ended
	Sep. 30, 2023 $ / shares shares
Shares
Unvested (in shares)	3,457,000
Unvested (in shares)	3,111,000
Restricted Stock
Shares
Unvested (in shares)	3,703,567
Granted (in shares)	506,649
Vested (in shares)	(961,119)
Forfeited (in shares)	0
Unvested (in shares)	3,249,097
Weighted Average Grant- Date Fair Value
Unvested (in dollars per share) \| $ / shares	$ 24.70
Granted (in dollars per share) \| $ / shares	29.73
Vested (in dollars per share) \| $ / shares	35.60
Forfeited (in dollars per share) \| $ / shares	0
Unvested (in dollars per share) \| $ / shares	$ 20.40

GOODWILL AND INTANGIBLES - Summary of changes in carrying value of goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 335,790	$ 426,148
Goodwill from acquisitions		258,536
Goodwill from acquisitions	(7,926)
Accumulated Impairment Charges		(342,027)
Foreign currency translation adjustments	0	(6,867)
Goodwill, ending balance	327,864	335,790
Consumer and Professional Products
Goodwill [Roll Forward]
Goodwill, beginning balance	144,537	234,895
Goodwill from acquisitions		258,536
Goodwill from acquisitions	(7,926)
Accumulated Impairment Charges		(342,027)
Foreign currency translation adjustments	0	(6,867)
Goodwill, ending balance	136,611	144,537
Home and Building Products
Goodwill [Roll Forward]
Goodwill, beginning balance	191,253	191,253
Goodwill from acquisitions		0
Goodwill from acquisitions	0
Accumulated Impairment Charges		0
Foreign currency translation adjustments	0	0
Goodwill, ending balance	$ 191,253	$ 191,253

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

STOCKHOLDERS' EQUITY AND EQUITY COMPENSATION - Summary of stock-based compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Restricted stock	$ 20,529	$ 18,810	$ 16,410
ESOP	20,583	14,325	3,678
Total stock-based compensation	41,112	33,135	$ 20,088
Special dividend ESOP charges	$ 15,494	$ 10,538

CREDIT LOSSES

12 Months Ended

Sep. 30, 2023

Credit Loss [Abstract]

CREDIT LOSSES

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 credit losses. 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. Credit losses 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:


Beginning Balance, October 1, 2021	$	8,787
Allowance for credit losses acquired	2,598
Provision for expected credit losses	1,172
Amounts written off charged against the allowance	(251)
Other, primarily foreign currency translation	(169)
Ending Balance, September 30, 2022	$	12,137

Provision for expected credit losses	971
Amounts written off charged against the allowance	(1,186)
Other, primarily foreign currency translation	(658)
Ending Balance, September 30, 2023	$	11,264

INVENTORIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INVENTORIES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Next-generation Business Platform \| Consumer and Professional Products
Inventory [Line Items]
Impairment of inventory	$ 37,100	$ 3,805	$ 4,158

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	COMMON STOCK	CAPITAL IN EXCESS OF PAR VALUE	RETAINED EARNINGS	TREASURY SHARES	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	DEFERRED COMPENSATION
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)					27,610,000
Beginning balance (in shares) at Sep. 30, 2020		83,739,000
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 (loss)	79,211			79,211
Dividends	(16,731)			(16,731)
Shares withheld on employee taxes on vested equity awards (in shares)					152,000
Shares withheld on employee taxes on vested equity awards	(3,357)				$ (3,357)
Amortization of deferred compensation	2,437						2,437
Equity awards granted, net (in shares)		636,000
Equity awards granted, net	0	$ 159	(159)
ESOP allocation of common stock	2,922		2,922
Stock-based compensation	16,410		16,410
Other comprehensive income, net of tax	$ 26,115					26,115
Ending balance (in shares) at Sep. 30, 2021					27,762,000
Ending balance (in shares) at Sep. 30, 2021	56,613,000	84,375,000
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]
Beginning balance (in shares)					27,762,000
Net income (loss)	(191,558)			(191,558)
Dividends	(134,380)			(134,380)
Shares withheld on employee taxes on vested equity awards (in shares)					422,000
Shares withheld on employee taxes on vested equity awards	(10,886)				$ (10,886)
Amortization of deferred compensation	10,483						10,483
Equity awards granted, net (in shares)		371,000			(502,000)
Equity awards granted, net	0	$ 93	(7,713)		$ 7,620
ESOP allocation of common stock	15,729		15,729
Stock-based compensation	17,785		17,785
Other comprehensive income, net of tax	$ (36,761)					(36,761)
Ending balance (in shares) at Sep. 30, 2022	27,682,000				27,682,000
Ending balance (in shares) at Sep. 30, 2022	57,064,000	84,746,000
Balance at Sep. 30, 2022	$ 477,570	$ 21,187	627,982	344,060	$ (420,116)	(82,738)	(12,805)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	27,682,000				27,682,000
Net income (loss)	$ 77,617			77,617
Dividends	$ (140,161)			(140,161)
Shares withheld on employee taxes on vested equity awards (in shares)	365,823				366,000
Shares withheld on employee taxes on vested equity awards	$ (12,990)				$ (12,990)
Amortization of deferred compensation	10,362						10,362
Common stock acquired (in shares)					4,143,000
Common stock acquired	(152,279)				$ (152,279)
Equity awards granted, net (in shares)					(507,000)
Equity awards granted, net	0		(7,699)		$ 7,699
ESOP allocation of common stock	21,868		21,868
Stock-based compensation	20,529		20,529
Other comprehensive income, net of tax	$ 12,728					12,728
Ending balance (in shares) at Sep. 30, 2023	31,684,000				31,684,000
Ending balance (in shares) at Sep. 30, 2023	53,062,000	84,746,000
Balance at Sep. 30, 2023	$ 315,244	$ 21,187	$ 662,680	$ 281,516	$ (577,686)	$ (70,010)	$ (2,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	31,684,000				31,684,000

RESTRUCTURING CHARGES

12 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

On May 3, 2023, in response to changing market conditions, Griffon announced that its CPP segment will expand its global sourcing strategy to include long handled tools, material handling, and wood storage and organization product lines. By transitioning these product lines to an asset-light structure, CPP’s operations will be better positioned to serve customers with a more flexible and cost-effective sourcing model that leverages supplier relationships around the world, while improving its competitive positioning in a post-pandemic marketplace.

The global sourcing strategy expansion is expected to be complete by the end of calendar 2024. Over that period, CPP expects to reduce its facility footprint by approximately 1.2 million square feet, or approximately 15%, and its headcount by approximately 600. The affected U.S. locations will include Camp Hill and Harrisburg, PA; Grantsville, MD; Fairfield, IA; and four wood mills.

Implementation of this strategy over the duration of the project will result in charges of $120,000 to $130,000, including $50,000 to $55,000 of cash charges for employee retention and severance, operational transition, and facility and lease exit costs, and $70,000 to $75,000 of non-cash charges primarily related to asset write-downs. Capital investment in the range of $3,000 to $5,000 will also be required. These costs exclude cash proceeds from the sale of real estate and equipment, which are expected to largely offset the cash charges, and also exclude inefficiencies due to duplicative labor costs and absorption impacts during transition.

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 was broadening this strategic initiative to include additional North American facilities, the AMES United Kingdom (U.K.) and Australia businesses, and a manufacturing facility in China. On April 28, 2022, Griffon announced a reduced scope and accelerated timeline for the initiative, which was completed in fiscal 2022. The cost to implement this new business platform included one-time charges of approximately $51,869 and capital investments of approximately $13,000, net of future proceeds from the sale of exited facilities. Total cumulative charges of $51,869 consisted of cash charges totaling $35,691 and non-cash, asset-related charges totaling $16,178; the cash charges included $12,934 for one-time termination benefits and other personnel-related costs and $22,757 for facility exit costs. As a result of these transactions, headcount was reduced by approximately 420.

In the year ended September 30, 2023, CPP incurred pre-tax restructuring and related exit costs approximating $92,468. Cash charges totaled $33,536 and non-cash, asset-related charges totaled $58,932; the cash charges included $16,772 for one-time termination benefits and other personnel related costs and $16,764 for facility exit costs. Non-cash charges included a $21,832

impairment charge related to certain fixed assets at several manufacturing locations and $37,100 to adjust inventory to net realizable value.

In the year ended September 30, 2022, CPP incurred pre-tax restructuring and related exit costs approximating $16,782. Cash charges totaled $11,951 and non-cash, asset-related charges totaled $4,831; the cash charges included $4,124 for one-time termination benefits and other personnel-related costs and $7,827 for facility exit costs. Non-cash charges included a $3,805 of inventory that have no recoverable value and $1,026 primarily related to disposal of fixed assets at several manufacturing locations.

In the year ended September 30, 2021, CPP incurred pre-tax restructuring and related exit costs approximating $21,418. Cash charges totaled $14,763 and non-cash, asset-related charges totaled $6,655; the cash charges included $3,190 for one-time termination benefits and other personnel-related costs and $11,573 for facility and lease exit costs primarily driven by the consolidation of distribution facilities and system optimization. Non-cash charges of $6,655 predominantly related to inventory of $4,158 that have no recoverable value, and a $1,882 impairment charge related to machinery and equipment that have no recoverable value at one of the Company's owned manufacturing locations.

A summary of the restructuring and other related charges included in Cost of goods and services and Selling, general and administrative expenses in the Company's Consolidated Statements of Operations were as follows:


	For the Year Ended September 30,
	2023		2022		2021
Cost of goods and services	$	82,028	$	7,964	$	7,923
Selling, general and administrative expenses	10,440		8,818		13,495
Total restructuring charges	$	92,468	$	16,782	$	21,418


	For the Year Ended September 30,
	2023		2022		2021
Personnel related costs	$	16,772	$	4,124	$	3,190
Facilities, exit costs and other	16,764		7,827		11,573

Non-cash facility and other	58,932		4,831		6,655
Total	$	92,468	$	16,782	$	21,418

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


	Cash Charges		Cash Charges		Non-Cash Charges
	Personnel related costs		Facilities & Exit Costs		Facility and Other Costs		Total
Accrued liability at September 30, 2020	$	581	$	264	$	—	$	845
Charges	3,190		11,573		6,655		21,418
Payments	(3,353)		(11,573)		—		(14,926)
Non-cash charges (1)	—		—		(6,655)		(6,655)
Accrued liability at September 30, 2021	$	418	$	264	$	—	$	682
Charges	4,124		7,827		4,831		16,782
Payments	(4,156)		(7,827)		—		(11,983)
Non-cash charges (1)	—		—		(4,831)		(4,831)
Accrued liability at September 30, 2022	$	386	$	264	$	—	$	650
Charges	16,772		16,764		58,932		92,468
Payments	(3,051)		(11,477)		—		(14,528)
Non-cash charges (1)	—		—		(58,932)		(58,932)
Accrued liability at September 30, 2023	$	14,107	$	5,551	$	—	$	19,658
(1) Non-cash charges in Facility and Other Costs primarily represent the non-cash write-off of certain long-lived assets and inventory that has no recoverable value in connection with certain facility closures.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Pay vs Performance Disclosure
Net income (loss)	$ 77,617	$ (191,558)	$ 79,211

- Definition

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

+ References

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+ Details

INCOME TAXES - Components of Income before taxes and discontinued operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 106,209	$ (247,004)	$ 55,835
Non-U.S.	6,473	(23,875)	54,120
Income (loss) before taxes from continuing operations	$ 112,682	$ (270,879)	$ 109,955

- 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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+ Details

INVENTORIES

12 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

The following table details the components of inventory:


	At September 30, 2023		At September 30, 2022
Raw materials and supplies	$	127,342	$	173,520
Work in process	12,070		50,963
Finished goods	367,718		444,710
Total	$	507,130	$	669,193

In connection with the Company's restructuring activities described in Note 10, Restructuring Charges, during the year ended September 30, 2023, CPP recorded an inventory impairment charge of $37,100 to adjust to net realizable value.

REPORTABLE SEGMENTS - Narrative (Details) - segment	12 Months Ended
REPORTABLE SEGMENTS - Narrative (Details) - segment	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Number of reportable segments	2
Segment Revenue Benchmark \| Home Depot \| Consumer and Professional Products \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	15.00%	19.00%	26.00%
Segment Revenue Benchmark \| Home Depot \| Home and Building Products \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	9.00%	7.00%	10.00%
Consolidated Revenue from Continuing Operations Benchmark \| Home Depot \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	12.00%	13.00%	19.00%

CREDIT LOSSES - Schedule of accounts receivable, allowance for credit losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 12,137	$ 8,787
Allowance for credit losses acquired		2,598
Provision for losses on accounts receivable	971	1,172
Amounts written off charged against the allowance	(1,186)	(251)
Other, primarily foreign currency translation	(658)	(169)
Ending balance	$ 11,264	$ 12,137

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES - CONTINUING OPERATIONS:
Net income (loss)	$ 77,617	$ (191,558)	$ 79,211
Net income from discontinued operations	0	(96,157)	(8,909)
Income from continuing operations	77,617	(287,715)	70,302
Adjustments to reconcile net income (loss) to net cash provided by operating activities of continuing operations:
Depreciation and amortization	65,445	64,658	52,302
Fair value write-up of acquired inventory sold	0	5,401	0
Stock-based compensation	41,112	33,135	20,088
Goodwill and intangible asset impairments	109,200	517,027	0
Asset impairment charges - restructuring	58,932	4,831	6,655
Provision for losses on accounts receivable	1,297	1,416	501
Amortization of deferred financing costs and debt discounts	4,235	3,775	2,640
Debt extinguishment, net	437	4,529	0
Deferred income tax provision (benefit)	(37,795)	(56,706)	13,763
(Gain)/ loss on sale/disposal of assets and investments	(12,960)	(469)	231
Change in assets and liabilities, net of assets and liabilities acquired:
(Increase) decrease in accounts receivable	50,793	(20,662)	(7,002)
(Increase) decrease in inventories	129,209	(106,753)	(154,515)
(Increase) decrease in prepaid and other assets	621	(20,005)	(9,598)
Increase (decrease) in accounts payable, accrued liabilities and income taxes payable	(67,843)	(96,372)	72,773
Other changes, net	11,465	13,150	1,668
Net cash provided by operating activities - continuing operations	431,765	59,240	69,808
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment	(63,604)	(42,488)	(36,951)
Acquired business, net of cash acquired	0	(851,464)	(2,242)
Proceeds (payments) from investments	0	14,923	(17,211)
Proceeds (payments) from sale of business, net	(2,568)	295,712	0
Proceeds from sale of property, plant and equipment	20,961	90	237
Net cash used in investing activities - continuing operations	(45,211)	(583,227)	(56,167)
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Dividends paid	(133,814)	(126,677)	(17,139)
Purchase of shares for treasury	(163,970)	(10,886)	(3,357)
Proceeds from long-term debt	122,558	1,058,909	20,912
Payments of long-term debt	(221,781)	(511,194)	(27,833)
Financing costs	(3,025)	(17,065)	(571)
Other, net	(130)	258	(257)
Net cash provided by (used) in financing activities - continuing operations	(400,162)	393,345	(28,245)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash provided by (used in) operating activities	(2,994)	10,198	41,961
Net cash provided by (used in) investing activities	0	(2,627)	6,751
Net cash provided by (used in) discontinued operations	(2,994)	7,571	48,712
Effect of exchange rate changes on cash and equivalents	(693)	(5,398)	(3,544)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	(17,295)	(128,469)	30,564
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	120,184	248,653	218,089
CASH AND EQUIVALENTS AT END OF PERIOD	102,889	120,184	248,653
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest	99,833	78,274	60,781
Cash paid for taxes	$ 70,937	$ 80,264	$ 41,216

EMPLOYEE BENEFIT PLANS - Schedule of weighted average assumptions used in determining benefit obligations (Details)	Sep. 30, 2023	Sep. 30, 2022
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.63%	5.17%
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.53%	5.02%

LEASES - Weighted average lease terms and discount rates (Details)	Sep. 30, 2023	Sep. 30, 2022
Weighted-average remaining lease term (years)
Operating Leases	7 years 10 months 24 days	8 years 4 months 24 days
Finance Leases	3 years 3 months 18 days	7 years 4 months 24 days
Weighted-average discount rate
Operating Leases	5.94%	5.47%
Finance Leases	5.65%	5.51%

EARNINGS PER SHARE

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic EPS (and diluted EPS in periods when a loss exists) 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 basic and diluted EPS for 2023, 2022 and 2021:


	2023	2022	2021
Common shares outstanding	53,062	57,064	56,613
Unallocated ESOP shares	(196)	(1,025)	(1,863)
Non-vested restricted stock	(3,111)	(3,457)	(3,601)
Impact of weighted average shares	2,356	(910)	(319)
Weighted average shares outstanding - basic	52,111	51,672	50,830
Incremental shares from stock based compensation	2,501	—	2,539

Weighted average shares outstanding - diluted	54,612	51,672	53,369

Anti-dilutive restricted stock excluded from diluted EPS computation	—	2,294	—

Shares of the ESOP that have been allocated to employee accounts are treated as outstanding in determining earnings per share.

LEASES - Summary of future maturities of lease payments for operating leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Operating Leases
2024	$ 41,955
2025	35,233
2026	26,504
2027	22,473
2028	18,185
Thereafter	83,456
Total lease payments	227,806
Less: Imputed Interest	(47,950)
Present value of lease liabilities	179,856	$ 191,094
Finance Leases
2024	297
2025	123
2026	65
2027	4
2028	0
Thereafter	0
Total lease payments	489
Less: Imputed Interest	(25)
Present value of lease liabilities	$ 464	$ 14,060

INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income taxes have been based on the following components of Income before taxes from continuing operations:


	For the Years Ended September 30,
	2023		2022		2021
Domestic	$	106,209	$	(247,004)	$	55,835
Non-U.S.	6,473		(23,875)		54,120
	$	112,682	$	(270,879)	$	109,955

Schedule of Components of Income Tax Expense (Benefit)

Provision (benefit) for income taxes on income was comprised of the following from continuing operations:


	For the Years Ended September 30,
	2023		2022		2021
Current	$	72,860	$	73,542	$	25,890
Deferred	(37,795)		(56,706)		13,763
Total	$	35,065	$	16,836	$	39,653
U.S. Federal	$	23,612	$	(5,178)	$	14,305
State and local	5,899		14,361		7,117
Non-U.S.	5,554		7,653		18,231
Total provision	$	35,065	$	16,836	$	39,653

Schedule of Effective Income Tax Rate Reconciliation

Differences between the effective income tax rate applied to Income (loss) before taxes from continuing operations and the U.S. Federal statutory income tax rate are presented in the table below. For the fiscal year ended September 30, 2022, the Company reported a pre-tax loss and income tax expense. As a result, unfavorable items to the US Federal statutory income tax rate are presented as negative amounts, while favorable items are presented as positive amounts.


	For the Years Ended September 30,
	2023		2022		2021
U.S. Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State and local taxes, net of Federal benefit	(0.2)	%	(5.3)	%	4.8	%
Non-U.S. taxes - foreign permanent items and taxes	1.4	%	(1.5)	%	3.1	%


Change in tax contingency reserves	(0.4)	%	(0.1)	%	0.2	%
Impact of foreign rate change on deferred tax balances	—	%	—	%	2.8	%
Tax Reform-Repatriation of Foreign Earnings and GILTI	0.5	%	0.2	%	0.4	%
Change in valuation allowance	3.9	%	(1.7)	%	0.4	%
Other non-deductible/non-taxable items, net	—	%	(0.4)	%	0.4	%
Non-deductible officer's compensation	5.1	%	(1.9)	%	4.0	%
Research and U.S. foreign tax credits	(0.9)	%	0.2	%	(0.1)	%
Goodwill impairment	—	%	(17.1)	%	—	%

Share based compensation	0.8	%	0.4	%	(2.0)	%
Other	(0.1)	%	—	%	1.1	%
Effective tax rate	31.1	%	(6.2)	%	36.1	%

Schedule of Deferred Tax Assets and Liabilities

The tax effect of temporary differences that give rise to future deferred tax assets and liabilities are as follows:


	At September 30,
	2023		2022
Deferred tax assets:
Bad debt reserves	$	2,537	$	2,873
Inventory reserves	11,764		5,005
Deferred compensation (equity compensation and defined benefit plans)	5,929		8,658
Compensation benefits	5,118		4,859
Insurance reserve	2,823		2,660
Restructuring reserve	4,224		—
Warranty reserve	6,912		3,402
Lease liabilities	47,077		49,649
Net operating loss	15,459		20,528
Tax credits	5,933		5,933
Research & Development	5,281		—


Other reserves and accruals	5,312		5,553
	118,369		109,120
Valuation allowance	(17,992)		(13,490)
Total deferred tax assets	100,377		95,630
Deferred tax liabilities:

Goodwill and intangibles	(48,859)		(25,484)
Property, plant and equipment	(99,637)		(158,074)
Right-of-use assets	(44,499)		(47,949)

Unremitted Foreign Earnings	(1,894)		—

Other	(1,179)		(1,224)
Total deferred tax liabilities	(196,068)		(232,731)
Net deferred tax liabilities	$	(95,691)	$	(137,101)

Schedule of Components of Net Deferred Tax Asset Liability by Balance Sheet Account

The components of the net deferred tax liability, by balance sheet account, were as follows:


	At September 30,
	2023		2022

Other assets	$	617	$	339


Other liabilities	(97,440)		(139,417)

Liabilities of discontinued operations	1,132		1,977
Net deferred liability	$	(95,691)	$	(137,101)

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a roll forward of unrecognized tax benefits:


Balance at September 30, 2021	$	4,377
Additions based on tax positions related to the current year	172
Additions based on tax positions related to prior years(1)	2,298

Lapse of Statutes	(39)

Balance at September 30, 2022	$	6,808
Additions based on tax positions related to the current year	208
Additions based on tax positions related to prior years	32
Reductions based on tax positions related to prior years	(16)
Lapse of Statutes	(740)
Settlements	—
Balance at September 30, 2023	$	6,292
(1) Relates to unrecognized tax benefits assumed with the acquisition of Hunter.

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of business 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 May 3, 2023, in response to changing market conditions, Griffon announced that its CPP segment will expand its global sourcing strategy to include long handled tools, material handling, and wood storage and organization product lines. By transitioning these product lines to an asset-light structure, CPP’s operations will be better positioned to serve customers with a more flexible and cost-effective sourcing model that leverages supplier relationships around the world, while improving its competitive positioning in a post-pandemic marketplace. These actions will be essential to CPP achieving 15% EBITDA margins, while enhancing free cash flow through improved working capital and significantly lower capital expenditures. The global sourcing strategy expansion is expected to be complete by the end of calendar 2024. Over that period, CPP expects to reduce its facility footprint by approximately 1.2 million square feet, or approximately 15%, and its headcount by approximately 600. The affected U.S. locations will include Camp Hill and Harrisburg, Pennsylvania; Grantsville, Maryland; Fairfield, Iowa; and four wood mills. Implementation of this strategy over the duration of the project will result in charges of $120,000 to $130,000, including $50,000 to $55,000 of cash charges for employee retention and severance, operational transition, and facility and lease exit costs, and $70,000 to $75,000 of non-cash charges primarily related to asset write-downs. Capital investment in the range of $3,000 to $5,000 will also be required. These costs exclude cash proceeds from the sale of real estate and equipment, which are expected to largely offset the cash charges, and also exclude inefficiencies due to duplicative labor costs and absorption impacts during transition. On May 16, 2022, Griffon announced that its Board of Directors initiated a process to review a comprehensive range of strategic alternatives to maximize shareholder value including a sale, merger, divestiture, recapitalization or other strategic transaction. On April 20, 2023, Griffon announced that its Board of Directors, after extensive evaluation and deliberation, determined that the ongoing execution of the Company’s strategic plan was the best way to maximize value for shareholders and unanimously decided to conclude its review. On December 17, 2021, Griffon entered into a definitive agreement to acquire Hunter Fan Company (“Hunter”), a market leader in residential ceiling, commercial, and industrial fans, from MidOcean Partners (“MidOcean”) for a contractual purchase price of $845,000 and completed the acquisition on January 24, 2022. On September 27, 2021, Griffon announced it was exploring strategic alternatives for its Defense Electronics segment, which consisted of Telephonics Corporation ("Telephonics"), and on June 27, 2022, Griffon completed the sale of Telephonics for $330,000, excluding customary post-closing adjustments, primarily related to working capital. 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. All references made to results and information in the Consolidated Financial Statements on Form 10-K are to Griffon's continuing operations unless noted otherwise. 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. Griffon currently conducts its operations through two reportable segments: •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 Cornell and Cookson brands. •Consumer and Professional Products (“CPP”) is a leading 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. Consolidation The consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The results of operations of acquired businesses are included from the dates of acquisitions. Earnings per share Due to rounding, the sum of earnings per share may not equal earnings per share of Net income. Discontinued operations For the years ended September 30, 2023, 2022 and 2021, discontinued operations includes the Telephonics business, and the assets and liabilities of discontinued installations business and other discontinued activities which have been segregated from Griffon's continuing operations primarily related to insurance claims, product liability, warranty and environmental reserves. See Note 8, Discontinued Operations. Reclassifications Certain amounts in prior years have been reclassified to conform to the current year presentation. Use of estimates 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, 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. Cash and equivalents Griffon considers all highly liquid investments purchased with an initial maturity of three months or less to be cash equivalents. Cash equivalents primarily consist of overnight commercial paper, highly-rated liquid money market funds backed by U.S. Treasury securities and U.S. Agency securities. Griffon had cash in non-U.S. bank accounts of approximately $45,500 and $54,200 at September 30, 2023 and 2022, respectively. Substantially all U.S. cash and equivalents are in excess of FDIC insured limits. Griffon regularly evaluates the financial stability of all institutions and funds that hold its cash and equivalents. Fair value of financial instruments The carrying values of cash and cash equivalents, accounts receivable, accounts and notes payable and revolving credit and Term Loan B 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 debt is based upon current market rates. The fair value hierarchy, as outlined in the applicable accounting guidance, establishes a fair value hierarchy that requires 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 and Term Loan B facility approximated $882,171 and $461,843, respectively, on September 30, 2023. Fair values were based upon quoted market prices (level 1 inputs). Insurance contracts with a value of $3,671 at September 30, 2023 are measured and recorded at fair value based upon quoted prices in active markets for similar assets (level 2 inputs) and are included in Other current assets on the consolidated balance sheet. Items Measured at Fair Value on a Recurring Basis In the normal course of business, Griffon’s operations are exposed to the effect 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. 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 USD as discussed below. At September 30, 2023 and 2022, Griffon had $11,000 and $25,000 of Australian dollar contracts at a weighted average rate of $1.45 and $1.42, respectively, which qualified for hedge accounting. These hedges were all deemed effective as cash flow hedges with gains and losses related to changes in fair value deferred and recorded in Other comprehensive income (loss) and Prepaid and other current assets, or Accrued liabilities, until settlement (level 2 inputs). Upon settlement, gains and losses were recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in Cost of goods and services. Accumulated Other Comprehensive Income (AOCI) included deferred gains of $765 ($536, net of tax) and $2,017 ($1,412, net of tax) at September 30, 2023 and 2022, respectively. Upon settlement gains (losses) of $3,991, $5,477 and $(2,204) were recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in Cost of goods and services ("COGS") during 2023, 2022 and 2021, respectively. All contracts expire in 30 days. At September 30, 2023 and 2022, Griffon had $52,000 and $74,250 of Chinese Yuan contracts at a weighted average rate of $7.00 and $6.79, respectively, which qualified for hedge accounting. These hedges were all deemed effective as cash flow hedges with gains and losses related to changes in fair value deferred and recorded in AOCI and Prepaid and other current assets, or Accrued liabilities, until settlement (level 2 inputs). Upon settlement, gains and losses are recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in COGS. AOCI included deferred losses of $1,721 ($1,257, net of tax) and $3,179 ($2,320, net of tax) at September 30, 2023 and 2022, respectively. Upon settlement, losses of $2,313 and $736 were recorded in COGS during 2023 and 2022, respectively. All contracts expire in 10 to 335 days. At September 30, 2023 and 2022, Griffon had $3,700 and $6,300, respectively, of Canadian dollar contracts at a weighted average rate of $1.36 and $1.28, respectively. These contracts, which protect Canadian operations from currency fluctuations for U.S. dollar based purchases, do not qualify for hedge accounting and fair value gains of $60 and $427 were recorded in Other assets and to Other income for the outstanding contracts, based on similar contract values (level 2 inputs), for the years ended September 30, 2023 and 2022, respectively. Realized gains (losses) of $336, $247 and $(381) were recorded in Other income during 2023, 2022 and 2021, respectively. All contracts expire in 30 to 357 days. Pension plan assets with a fair value of $146,997 at September 30, 2023, are measured and recorded at fair value based upon quoted prices in active markets for identical assets (level 1 inputs), quoted market prices for similar assets (level 2 inputs) and fair value assumptions for unobservable inputs in which little or no market data exists (level 3). The Company accounts for acquisitions under the acquisition method, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition using a method substantially similar to the goodwill impairment test methodology (level 3 inputs). The operating results of the acquired companies are included in Griffon’s consolidated financial statements from the date of acquisition in each instance. Non-U.S. currency translation Assets and liabilities of non-U.S. subsidiaries, where the functional currency is not the U.S. dollar, have been translated at year-end exchange rates and profit and loss accounts have been translated using weighted average exchange rates during the applicable fiscal year. Adjustments resulting from currency translation are recorded in AOCI as cumulative translation adjustments. The Company recognized cumulative translation gains of $8,447 during 2023 and losses of $37,920 during 2022. As of September 30, 2023 and 2022, the cumulative foreign currency translation recorded in AOCI was a loss of $48,723 and $57,170, respectively. Assets and liabilities of an entity that are denominated in currencies other than that entity’s functional currency are re-measured into the functional currency using period end exchange rates, or historical rates where applicable to certain balances. Gains and losses arising on remeasurements are recorded within the Consolidated Statement of Operations and Comprehensive Income as a component of Other income (expense). Revenue recognition The 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 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, and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment. Refer to Note 2 - Revenue for more detail. Accounts receivable, expected loss allowance for doubtful accounts and concentrations of credit risk Accounts receivable is composed principally of trade accounts receivable, that arise from the sale of goods or services on account, and is stated at historical cost. A substantial portion of Griffon’s trade receivables are from Home Depot, whose financial condition is dependent on the construction and related retail sectors of the economy. As a percentage of consolidated accounts receivable, Home Depot was 13%. Griffon performs continuing evaluations of the financial condition of its customers, and although Griffon generally does not require collateral, letters of credit may be required from customers in certain circumstances. Trade receivables are recorded at the stated amount, less expected loss allowance for doubtful accounts and, when appropriate, for customer program reserves and cash discounts. The expected loss allowance represents estimated uncollectible receivables associated with potential customer defaults on contractual obligations (usually due to customers’ potential insolvency). The expected loss allowance for doubtful accounts includes amounts for certain customers where 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. The provision related to the expected loss allowance for doubtful accounts is recorded in Selling, general and administrative ("SG&A") expenses. The Company writes-off accounts receivable when they are deemed to be uncollectible. Customer program reserves and cash discounts are netted against accounts receivable when it is customer practice to reduce invoices for these amounts. The amounts netted against accounts receivable in 2023 and 2022 were $106,166 and $80,482, respectively. All accounts receivable amounts are expected to be collected in less than one year. The Company does not currently have customers or contracts that prescribe specific retainage provisions. Inventories Inventories, stated at the lower of cost (first-in, first-out or average) or net realizable value, include material, labor and manufacturing overhead costs. Griffon’s businesses typically do not require inventory that is susceptible to becoming obsolete or dated. In general, HBP produces residential and commercial sectional garage doors, commercial rolling steel door and grille products, and CPP produces long-handled tools and landscaping products, and storage and organizational products, both in response to orders from customers of retailers and dealers or based on expected orders, as applicable. Long-Lived Assets, Including Intangible Assets Property, plant and equipment includes the historical cost of land, buildings, equipment and significant improvements to existing plant and equipment or, in the case of acquisitions, a fair market value appraisal of such assets completed at the time of acquisition. Expenditures for maintenance, repairs and minor renewals are expensed as incurred. When property or equipment is sold or otherwise disposed of, the related cost and accumulated depreciation is removed from the respective accounts and the gain or loss is recognized. Depreciation expense, which includes amortization of assets under capital leases, was $43,056, $46,443 and $42,741 in 2023, 2022 and 2021, respectively, and was calculated on a straight-line basis over the estimated useful lives of the assets. Depreciation included in SG&A expenses was $17,598, $16,683 and $14,362 in 2023, 2022 and 2021, respectively. The remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services. Estimated useful lives for property, plant and equipment are as follows: buildings and building improvements, 25 to 40 years; machinery and equipment, 2 to 15 years; and leasehold improvements, over the term of the lease or life of the improvement, whichever is shorter. Capitalized interest costs included in Property, plant and equipment were $1,463, $1,739 and $1,592 for the years ended September 30, 2023, 2022 and 2021, respectively. The original cost of fully-depreciated property, plant and equipment remaining in use at September 30, 2023 was approximately $208,037. Long-lived assets, including customer relationships and software, and tangible assets, primarily property, plant and equipment, are amortized over their expected useful lives, generally eight to 25 years, and involves significant assumptions and estimates. We assess the recoverability of the carrying amount of our long-lived assets, including amortizable intangible assets, whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. We evaluate the recoverability of such assets based on the expectations of undiscounted cash flows attributable to the asset group. If the sum of the expected future undiscounted cash flows are less than the carrying amount of the asset group, a loss would be recognized for the difference between the fair value and the carrying amount. For the fiscal years ended September 30, 2023 and 2022, we tested long-lived intangible and tangible assets for impairment by comparing estimated future undiscounted cash flows of each CPP asset group to the carrying amount of the asset group and determined that an impairment did not exist. No event or indicator of impairment existed for the HBP assets groups. Goodwill and indefinite-lived intangibles Goodwill represents the excess of the cost of net assets acquired in business combinations over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. We test goodwill and indefinite-lived intangibles for impairment at least annually in the fourth quarter, and more frequently whenever events or circumstances change that would more likely than not reduce the fair value below the carrying amount. Such events or changes in circumstance include significant deterioration in overall economic conditions, changes in the business climate in which our reporting units operate, a decline in our market capitalization, operating performance indicators, when some portion of a reporting unit is disposed of or classified as held for sale, or when a change in the composition of reporting units occurs for other reasons, such as a change in operating segments. To test goodwill and indefinite-lived intangible assets for impairment, we may perform both a qualitative assessment and quantitative assessment. If we elect to perform a qualitative assessment, we consider operating results as well as circumstances impacting the operations or cash flows of the reporting unit or indefinite-lived intangible assets, including macroeconomic conditions, industry and market conditions and reporting unit events and circumstances. For the quantitative test, the assessment is based on both an income-based and market-based valuation approach. If it is determined that an impairment exists, we recognize an impairment loss for the amount by which the carrying amount of the reporting unit or indefinite-lived intangible asset exceeds its estimated fair value. Fair value estimates are based on assumptions believed to be reasonable at the time, but such assumptions are subject to inherent uncertainty. Actual results may differ materially from those estimates. Any changes in key assumptions or management judgment with respect to a reporting unit or its prospects, which may result from a decline in Griffon’s stock price, a change in market conditions, market trends, interest rates or other factors outside of Griffon’s control, or significant underperformance relative to historical or projected future operating results, could result in a significantly different estimate of the fair value of Griffon’s reporting units, which could result in an impairment charge in the future. During the fiscal year ended September 30, 2023, the Company performed a qualitative assessment of the HBP reporting unit goodwill and determined that indicators that the fair value was less than the carrying amount were not present. With respect to CPP's reporting units goodwill, the Company performed a quantitative assessment using both an income based and market based approach, which did not result in an impairment. Additionally, the Company compared the estimated fair values of the CPP indefinite-lived intangibles, using the relief from royalty method, to their carrying amounts. The impairment tests resulted in pre-tax noncash impairment charges of $109,200 to the gross carrying amount of our trademarks, of which $9,200 was recognized in the fourth quarter and $100,000 was recognized in the second quarter. Indicators of impairment were not present for the HBP indefinite-lived intangibles during 2023. For fiscal year ended September 30, 2022, we performed a qualitative assessment of the HBP reporting unit and determined that indicators that the fair value was less than the carrying amount were not present. However, indicators of impairment were present for our CPP reporting units driven by a decrease in comparable company market multiples and an increase in interest rates and the related impact on weighted average cost of capital rates. As such, in connection with the preparation of our financial statements for the fiscal year ended September 30, 2022, we performed a quantitative assessment of the CPP reporting units using both an income-based and market-based approach. The impairment tests resulted in a pre-tax, non-cash goodwill impairment charge of $342,027. Further, we compared the estimated fair values of the CPP indefinite lived intangibles, using the relief from royalty method, to their carrying values which resulted in a pre-tax, non-cash impairment charge of $175,000. . Leases 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. 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. 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 Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, net, other accrued liabilities, and other non-current liabilities. 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 Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. The Company has lease agreements that contain both lease and non-lease components. For real estate leases, we account for lease components together with non-lease components (e.g., common-area maintenance). Income taxes We are subject to Federal, state and local income taxes in the U.S. and in various taxing jurisdictions outside the U.S. We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns in accordance with applicable accounting guidance for accounting for income taxes, using currently enacted tax rates in effect for the year in which the differences are expected to reverse. We record a valuation allowance when necessary to reduce deferred tax assets to the amount expected to be realized. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Both positive and negative evidence are considered in forming our judgment as to whether a valuation allowance is appropriate, and more weight is given to evidence that can be objectively verified. Valuation allowances are reassessed whenever there are changes in circumstances that may cause a change in judgment. The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition of tax positions taken or expected to be taken in a tax return. We record, as needed, a liability for the difference between the benefit recognized for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Interest and penalties recognized on the liability for unrecognized tax benefits is recorded as income tax expense. Research and development costs, shipping and handling costs and advertising costs Research and development costs are charged to SG&A expense as incurred and amounted to approximately $18,000 in 2023, $16,000 in 2022 and $7,000 in 2021. Total shipping and handling costs included in both COGS and SG&A were $123,100 in 2023, $130,830 in 2022 and $113,700 in 2021, of which $67,300 in 2023, $69,000 in 2022 and $58,100 in 2021 were included in SG&A. Advertising costs, which are expensed as incurred in SG&A, was $28,000 in 2023, $27,000 in 2022 and $19,000 in 2021. Risk, retention and insurance Griffon’s property and casualty insurance programs contain various deductibles that, based on Griffon’s experience, are reasonable and customary for a company of its size and risk profile. Griffon generally maintains deductibles for claims and liabilities related primarily to workers’ compensation, general, product and automobile liability as well as property damage and business interruption losses resulting from certain events. Griffon does not consider any of the deductibles to represent a material risk to Griffon. Griffon accrues for claim exposures that are probable of occurrence and can be reasonably estimated. Insurance is maintained to transfer risk beyond the level of self-retention and provides protection on both an individual claim and annual aggregate basis. Pension benefits Griffon sponsors defined and supplemental benefit pension plans for certain retired employees. Annual amounts relating to these plans are recorded based on actuarial projections, which include various actuarial assumptions, including discount rates, assumed rates of return, compensation increases and turnover rates. Actuarial assumptions used to determine pension liabilities, assets and expense are reviewed annually and modified based on current economic conditions and trends. The expected return on plan assets is determined based on the nature of the plan's investments and expectations for long-term rates of return. The discount rate used to measure obligations is based on a corporate bond spot-rate yield curve that matches projected future benefit payments, with the appropriate spot rate applicable to the timing of the projected future benefit payments. Assumptions used in determining Griffon’s obligations under the defined benefit pension plans are believed to be reasonable, based on experience and advice from independent actuaries; however, differences in actual experience or changes in assumptions may materially impact Griffon’s financial position or results of operations. All of the defined benefit plans are frozen and have ceased accruing benefits. The Company’s non-service cost components of net periodic benefit plan cost was an expense (benefit) of $866, $(4,256) and $(907) during 2023, 2022, and 2021 respectively. Issued but not yet effective accounting pronouncements In October 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-06, Disclosure Improvements: Amendments - Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative. The FASB issued the standard to introduce changes to US GAAP that originate in either SEC Regulation S-X or S-K, which are rules about the form and content of financial reports. The provisions of the standard are contingent when the SEC removes the related disclosure provisions from Regulation S-X and S-K. The company does not expect the provisions of the standard to have a material impact on the Company's financial statements and related disclosures. New Accounting Standards Implemented In October 2021, the 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 was effective for the Company beginning in fiscal 2023. Adoption of this standard did not have an 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.

INVENTORIES (Tables)

12 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

The following table details the components of inventory:


	At September 30, 2023		At September 30, 2022
Raw materials and supplies	$	127,342	$	173,520
Work in process	12,070		50,963
Finished goods	367,718		444,710
Total	$	507,130	$	669,193

REPORTABLE SEGMENTS - Schedule of summary of segment depreciation and amortization and capital expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
CAPITAL EXPENDITURES	$ 63,604	$ 42,488	$ 36,951
Mason Headquarters
Segment Reporting Information [Line Items]
CAPITAL EXPENDITURES	6,000
Ocala, Florida Manufacturing Facility
Segment Reporting Information [Line Items]
Proceeds from sale of real estate	8,900
Operating
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	64,877	64,101	51,803
CAPITAL EXPENDITURES	63,541	42,308	36,913
Corporate
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	568	557	499
CAPITAL EXPENDITURES	63	180	38
Proceeds from sale of real estate	11,800
Segment Reconciling Items
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	65,445	64,658	52,302
Home and Building Products \| Operating
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	15,066	16,539	17,370
CAPITAL EXPENDITURES	24,065	11,029	8,648
Consumer and Professional Products \| Operating
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	49,811	47,562	34,433
CAPITAL EXPENDITURES	39,476	$ 31,279	$ 28,265
Consumer and Professional Products \| Operating \| Ocala, Florida Manufacturing Facility
Segment Reporting Information [Line Items]
CAPITAL EXPENDITURES	$ 23,207

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Sep. 30, 2023

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 discontinued operations:


	For the Year Ended September 30,
	2022		2021
Revenue	$	161,061	$	271,060
Cost of goods and services	125,208		232,075
Gross profit	35,853		38,985
Selling, general and administrative expenses	26,423		35,532


Income from discontinued operations	9,430		3,453
Other income (expense)
Gain on sale of business	107,517		5,291
Interest income, net	2		117
Other, net	(604)		1,260
Total other income (expense)	106,915		6,668
Income from discontinued operations before tax	116,345		10,121
Provision for income taxes	20,188		1,212
Income from discontinued operations	$	96,157	$	8,909

The following amounts summarize the total assets and liabilities related to Telephonics, 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 Consolidated Balance Sheets:


	At September 30, 2023		At September 30, 2022
Assets of discontinued operations:
Prepaid and other current assets	$	1,001	$	1,189
Other long-term assets	4,290		4,586
Total assets of discontinued operations	$	5,291	$	5,775

Liabilities of discontinued operations:
Accrued liabilities, current	$	7,148	$	12,656
Other long-term liabilities	4,650		4,262
Total liabilities of discontinued operations	$	11,798	$	16,918

- 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.

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+ Details

ACCRUED LIABILITIES

12 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

The following table details the components of accrued liabilities:


	At September 30, 2023		At September 30, 2022
Compensation	$	77,558	$	77,823
Interest	4,317		6,798
Warranties and rebates	24,294		18,965
Insurance	10,619		10,533
Rent, utilities and freight	6,720		7,571
Income and other taxes	22,954		22,570
Marketing and advertising	7,008		6,682

Restructuring	19,658		650

Other	19,970		20,205
Total	$	193,098	$	171,797

WARRANTY LIABILITY - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Product Warranty Liability [Line Items]
Current portion of warranty	$ 20,781	$ 16,786
Product warranty accrual, noncurrent	$ 1,239	$ 1,239
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
Consumer and Professional Products
Product Warranty Liability [Line Items]
Product warranty period	90 days
Consumer and Professional Products \| Minimum
Product Warranty Liability [Line Items]
Product warranty period	1 year
Consumer and Professional Products \| Maximum
Product Warranty Liability [Line Items]
Product warranty period	10 years

STOCKHOLDERS' EQUITY AND EQUITY COMPENSATION - Narrative (Details) $ / shares in Units, $ in Thousands						1 Months Ended	3 Months Ended				12 Months Ended
	Nov. 15, 2023 USD ($)	Sep. 05, 2023 USD ($) account $ / shares shares	Apr. 19, 2023 USD ($) $ / shares	Jun. 27, 2022 $ / shares	Feb. 17, 2022 shares	Nov. 14, 2023 USD ($) $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2023 $ / shares	Mar. 31, 2023 $ / shares	Dec. 31, 2022 $ / shares	Sep. 30, 2023 USD ($) executive $ / shares shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares	Apr. 18, 2023 USD ($)	Jan. 30, 2020 shares	Jan. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share) \| $ / shares											$ 0.45	$ 0.36	$ 0.32
Accrued dividends \| $							$ 14,985				$ 14,985
Share-based payment award, number of shares authorized (in shares)							3,577,570				3,577,570
Number of additional shares authorized (in shares)					1,200,000
Number of shares issued out of treasury stock (in shares)											494,748
Stock repurchase program, authorized amount, period income (decrease) \| $			$ 200,000
Stock repurchase program, remaining authorized repurchase amount \| $			$ 257,955				$ 107,183				$ 107,183			$ 57,955
Stock repurchased during period (in shares)											4,142,794
Stock repurchased during period \| $											$ 150,772
Shares acquired, average cost per share (in dollars per share) \| $ / shares											$ 36.39
Stock repurchase program, exercise tax accrued \| $							$ 1,301				$ 1,301
Common stock, par value (in dollars per share) \| $ / shares							$ 0.25				$ 0.25	$ 0.25
Shares paid for tax withholding for share based compensation (in shares)											365,823
Shares paid for tax withholding for share based compensation, value \| $											$ 12,882
Shares paid for tax withholding for share based compensation, value per share (in dollars per share) \| $ / shares											$ 35.21
Related Party \| Voss Capital, LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period (in shares)		400,000
Shares acquired, average cost per share (in dollars per share) \| $ / shares		$ 41.87
Common stock, par value (in dollars per share) \| $ / shares		$ 0.25
Stock repurchase program, number of managed accounts \| account		2
Stock repurchase program, authorized amount \| $		$ 16,746
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends payable, amount per share (in dollars per share) \| $ / shares						$ 0.15
Stock repurchase program, authorized amount, period income (decrease) \| $	$ 200,000
Stock repurchase program, remaining authorized repurchase amount \| $	$ 262,203
Stock repurchased during period (in shares)						1,127,062
Stock repurchased during period \| $						$ 44,980
Shares acquired, average cost per share (in dollars per share) \| $ / shares						$ 39.91
Quarterly Dividend
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share) \| $ / shares							$ 0.125	$ 0.125	$ 0.10	$ 0.10
Special Cash Dividends
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, dividends declared (in dollars per share) \| $ / shares			$ 2.00	$ 2.00
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Instruments grants in period (in shares)											466,677
Restricted Stock and Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period											3 years
Restricted Stock and Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period											4 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, options, vested in period, fair value \| $											$ 34,214	$ 25,863	$ 10,627
Employee service share-based compensation, nonvested awards, compensation not yet recognized, share-based awards other than options \| $							$ 23,067				$ 23,067
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition											1 year 7 months 6 days
Instruments grants in period (in shares)											506,649
Weighted average grant date fair value (in dollars per share) \| $ / shares											$ 29.73
Instruments vested in period (in shares)											961,119
Shares paid for tax withholding for share based compensation (in shares)											3,066
Shares paid for tax withholding for share based compensation, value \| $											$ 108
Shares paid for tax withholding for share based compensation, value per share (in dollars per share) \| $ / shares											$ 35.31
Executive Officer and Key Employees \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Instruments grants in period (in shares)											249,480
Executive Officer and Key Employees \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period											36 months
Instruments grants in period (in shares)											11,901
Instruments number of persons granted shares (in shares) \| executive											44
Instruments vested in period, fair value \| $											$ 8,385
Weighted average grant date fair value (in dollars per share) \| $ / shares											$ 33.61
Senior Executives \| Restricted Stock, Subject to Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period											36 months
Instruments grants in period (in shares)											205,296
Instruments number of persons granted shares (in shares) \| executive											2
Weighted average grant date fair value (in dollars per share) \| $ / shares											$ 35.54
Post-vesting holding period											2 years
Equity instruments other than options, granted in period, fair value \| $											$ 3,648
Senior Executives \| Restricted Stock, Subject to Performance Conditions \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Instruments vested in period (in shares)											51,324
Target number of shares to be vested if performance condition is attained (in shares)											102,648
Senior Executives \| Restricted Stock, Subject to Performance Conditions \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Instruments vested in period (in shares)											205,296
Director \| Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting period											1 year
Instruments grants in period (in shares)											39,972
Instruments vested in period, fair value \| $											$ 1,211
Weighted average grant date fair value (in dollars per share) \| $ / shares											$ 30.29
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, number of shares authorized (in shares)							6,250,000				6,250,000				1,700,000	1,000,000
Share-based payment award, expiration period											10 years
Maximum percentage of exercise price at grant date fair value											100.00%
Share-based payment award, number of shares available for grant (in shares)							328,473				328,473
Incentive Plan \| Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, number of shares authorized (in shares)							600,000				600,000

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, $ in Thousands, $ in Thousands, ft² in Millions			3 Months Ended		12 Months Ended			20 Months Ended
	Jun. 27, 2022 USD ($)	Jan. 24, 2022 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) segment $ / shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($)	Dec. 31, 2024 USD ($) ft² position wood_mill	Sep. 30, 2023 CAD ($)	May 03, 2023	Sep. 30, 2022 CAD ($)	Sep. 30, 2020 USD ($)
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
EBITDA margins percentage										15.00%
Restructuring charges					$ 92,468	$ 16,782	$ 21,418
Payments for restructuring					14,528	11,983	14,926
Non-cash charges					$ 58,932	4,831	6,655
Number of reportable segments \| segment					2
Cash in non U.S. bank accounts			$ 45,500		$ 45,500	54,200
Fair value of insurance contracts			3,671		3,671
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax			8,447		8,447	(37,920)
Defined benefit plan, fair value of plan assets			146,997		146,997	144,091
Change in retained earnings			315,244		315,244	477,570	807,158					$ 700,151
Customer program reserves and cash discounts netted against accounts receivable			106,166		106,166	80,482
Depreciation, depletion and amortization, nonproduction					43,056	46,443	42,741
Accumulated capitalized interest costs			1,463		1,463	1,739	1,592
Original cost of fully depreciated property plant and equipment			208,037		$ 208,037
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]					Goodwill and intangible asset impairments
Indefinite-lived intangible asset (excluding goodwill) impairment, net of tax			9,200	$ 100,000
Goodwill, impairment loss						342,027
Research and development arrangement, contract to perform for others, costs incurred, gross					$ 18,000	16,000	7,000
Shipping and handling cost					123,100	130,830	113,700
Selling, general and administrative expenses					642,734	608,926	470,530
Non-service cost components of net periodic cost expense (benefit)					866	(4,256)	(907)
Forecast \| Global Sourcing Strategy Expansion \| Consumer and Professional Products
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Restructuring and related cost, facility closing, area \| ft²								1.2
Restructuring and related cost, facility closing, percentage								15.00%
Number of headcount reduced \| position								600
Number of impacted wood mills \| wood_mill								4
Consumer and Professional Products
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Impairment of indefinite-lived intangible assets					109,200	175,000
Goodwill, impairment loss						342,027
Pension Plan
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Defined benefit plan, fair value of plan assets			146,997		146,997	144,091	160,523
Discontinued Operations, Disposed of by Sale \| Telephonics Corporation
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Proceeds (payments) from sale of business, net	$ 330,000
Hunter Fan Company
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Business combination, consideration transferred		$ 845,000
Selling, general and administrative expenses
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Restructuring charges					10,440	8,818	13,495
Depreciation					$ 17,598	16,683	14,362
Home Depot
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Percentage of consolidated accounts receivable					13.00%
Senior Notes \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Senior Notes due 2028
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Long-term debt, fair value			$ 882,171		$ 882,171
Minimum
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Long-lived assets, useful life					8 years
Minimum \| Forecast \| Global Sourcing Strategy Expansion \| Consumer and Professional Products
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Restructuring charges								$ 120,000
Payments for restructuring								50,000
Non-cash charges								70,000
Minimum \| Forecast \| Global Sourcing Strategy Expansion \| Consumer and Professional Products \| Capital Investments
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Payments to acquire productive assets								3,000
Minimum \| Building and Building Improvements
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			25 years		25 years				25 years
Minimum \| Machinery and equipment
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			2 years		2 years				2 years
Maximum
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Maturity period of highly liquid investments					3 months
Long-lived assets, useful life					25 years
Maximum \| Forecast \| Global Sourcing Strategy Expansion \| Consumer and Professional Products
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Restructuring charges								130,000
Payments for restructuring								55,000
Non-cash charges								75,000
Maximum \| Forecast \| Global Sourcing Strategy Expansion \| Consumer and Professional Products \| Capital Investments
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Payments to acquire productive assets								$ 5,000
Maximum \| Building and Building Improvements
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			40 years		40 years				40 years
Maximum \| Machinery and equipment
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			15 years		15 years				15 years
Australian Dollar Contracts \| Designated as hedging instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Derivative, notional amount			$ 11,000		$ 11,000	$ 25,000
Contracts weighted average rate price (in dollars per share) \| $ / shares					$ 1.45	$ 1.42
Accumulated other comprehensive income (loss), foreign currency translation adjustment, before tax			765		$ 765	$ 2,017
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax			536		536	1,412
Gain (loss) on hedging activity					$ 3,991	5,477	(2,204)
Australian Dollar Contracts \| Maximum \| Designated as hedging instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Term of contract					30 days
Chinese Yuan Contracts \| Designated as hedging instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Derivative, notional amount			52,000		$ 52,000	$ 74,250
Contracts weighted average rate price (in dollars per share) \| $ / shares					$ 7.00	$ 6.79
Accumulated other comprehensive income (loss), foreign currency translation adjustment, before tax			(1,721)		$ (1,721)	$ (3,179)
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax			(1,257)		(1,257)	(2,320)
Gain (loss) on hedging activity					$ (2,313)	$ (736)
Chinese Yuan Contracts \| Minimum \| Designated as hedging instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Term of contract					10 days
Chinese Yuan Contracts \| Maximum \| Designated as hedging instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Term of contract					335 days
Canadian Dollar Contract \| Not Designated as Hedging Instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Derivative, notional amount									$ 3,700		$ 6,300
Contracts weighted average rate price (in dollars per share) \| $ / shares					$ 1.36	$ 1.28
Fair value gain (loss) on foreign currency contract not qualify for hedge accounting					$ 60	$ 427
Canadian Dollar Contract \| Significant Other Observable Inputs (Level 2) \| Not Designated as Hedging Instrument \| Other Income
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on sale of derivatives					$ 336	247	(381)
Canadian Dollar Contract \| Minimum \| Not Designated as Hedging Instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Term of contract					30 days
Canadian Dollar Contract \| Maximum \| Not Designated as Hedging Instrument
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Term of contract					357 days
Foreign currency translation adjustments
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Change in retained earnings			$ (48,723)		$ (48,723)	(57,170)
Shipping and Handling
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Selling, general and administrative expenses					67,300	69,000	58,100
Advertising
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Selling, general and administrative expenses					$ 28,000	$ 27,000	$ 19,000

EMPLOYEE BENEFIT PLANS - Estimated future benefit payments to retirees (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Defined Benefits
Defined Benefit Plan Disclosure [Line Items]
2024	$ 12,009
2025	11,993
2026	12,021
2027	12,012
2028	11,918
2028 through 2031	56,659
Supplemental Benefits
Defined Benefit Plan Disclosure [Line Items]
2024	1,853
2025	1,709
2026	1,562
2027	1,413
2028	1,263
2028 through 2031	$ 4,231

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

Net periodic costs (benefits) were as follows:


	Defined Benefits for the Years Ended September 30,						Supplemental Benefits for the Years Ended September 30,
	2023		2022		2021		2023		2022		2021
Net periodic (benefits) costs:

Interest cost	$	6,814	$	3,448	$	2,816	$	488	$	172	$	162
Expected return on plan assets	(10,213)		(11,255)		(10,177)		—		—		—

Amortization of:
Prior service costs	—		—		—		—		—		—
Actuarial loss	3,314		2,818		5,776		463		561		516
Total net periodic (benefits) costs	$	(85)	$	(4,989)	$	(1,585)	$	951	$	733	$	678

Schedule of Assumptions Used

The weighted-average assumptions used in determining the net periodic (benefits) costs were as follows:


	Defined Benefits for the Years Ended September 30,						Supplemental Benefits for the Years Ended September 30,
	2023		2022		2021		2023		2022		2021
Discount rate	5.17	%	2.63	%	2.30	%	5.02	%	1.94	%	1.69	%

Expected return on assets	6.72	%	6.72	%	6.75	%	—	%	—	%	—	%

Schedule of Plan Assets and Benefit Obligation of Defined Benefit Plan

Plan assets and benefit obligation of the defined and supplemental benefit plans were as follows:


	Defined Benefits at September 30,				Supplemental Benefits at September 30,
	2023		2022		2023		2022
Change in benefit obligation:
Benefit obligation at beginning of fiscal year	$	149,021	$	170,505	$	11,922	$	14,775

Business acquisition	—		21,839		—		—
Interest cost	6,814		3,448		488		172

Benefits paid	(11,541)		(11,281)		(1,907)		(1,927)



Actuarial (gain) loss	(5,070)		(35,490)		379		(1,098)

Benefit obligation at end of fiscal year	139,224		149,021		10,882		11,922
Change in plan assets:
Fair value of plan assets at beginning of fiscal year	144,091		160,523		—		—
Business acquisition	—		22,288		—		—
Actual return on plan assets	12,232		(27,439)		—		—

Company contributions	2,215		—		1,907		1,927

Benefits paid	(11,541)		(11,281)		(1,907)		(1,927)


Fair value of plan assets at end of fiscal year	146,997		144,091		—		—
Projected benefit obligation in excess of plan assets	$	7,773	$	(4,930)	$	(10,882)	$	(11,922)
Amounts recognized in the statement of financial position consist of:
Non-Current Assets	$	7,773	$	1,108	$	—	$	—
Accrued liabilities	—		—		(1,834)		$	(1,866)
Other liabilities (long-term)	—		(6,038)		(9,048)		(10,056)
Total Liabilities	7,773		(4,930)		(10,882)		(11,922)
Net actuarial losses	28,279		38,682		5,919		6,003
Prior service cost	—		—		—		—
Deferred taxes	(5,939)		(8,123)		(2,873)		(1,261)
Total Accumulated other comprehensive loss, net of tax	22,340		30,559		3,046		4,742
Net amount recognized at September 30,	$	30,113	$	25,629	$	(7,836)	$	(7,180)
Accumulated benefit obligations	$	139,224	$	149,021	$	10,882	$	11,922
Information for plans with accumulated benefit obligations in excess of plan assets:
ABO	$	139,224	$	149,021	$	10,882	$	11,922
PBO	139,224		149,021		10,882		11,922
Fair value of plan assets	146,997		144,091		—		—

Schedule of Weighted Average Assumptions Used in Defined and Supplemental Benefit Obligations

The weighted-average assumptions used in determining the benefit obligations were as follows:


	Defined Benefits at September 30,				Supplemental Benefits at September 30,
	2023		2022		2023		2022
Weighted average discount rate	5.63	%	5.17	%	5.53	%	5.02	%

Schedule of Expected Benefit Payments

Estimated future benefit payments to retirees, which reflect expected future service, are as follows:


For the years ending September 30,	Defined Benefits		Supplemental Benefits
2024	$	12,009	$	1,853
2025	11,993		1,709
2026	12,021		1,562
2027	12,012		1,413
2028	11,918		1,263
2028 through 2031	56,659		4,231

Schedule of Actual and Weighted Average Assets Allocation for Qualified Benefit Plans

The actual and weighted-average asset allocation for qualified benefit plans were as follows:


	At September 30,
	2023		2022		Target
Cash and equivalents	3.3	%	4.3	%	—	%
Equity securities	41.9	%	41.1	%	44.0	%
Fixed income	24.8	%	24.6	%	36.0	%
Other	30.0	%	30.0	%	20.0	%
Total	100.0	%	100.0	%	100.0	%

Schedule of Fair Value of Pension and Postretirement Plan Assets by Asset Category

The following table presents the fair values of Griffon’s pension and post-retirement plan assets by asset category:


At September 30, 2023	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	4,889	$	—	$	—	$	4,889

Government agency securities	26,824		2,537		—		29,361
Debt instruments	1,253		3,945		—		5,198
Equity securities	61,482		—		—		61,482
Commingled funds	—		9,022		10,459		19,481
Limited partnerships and hedge fund investments	—		21,768		—		21,768
Other Securities	1,834		—		—		1,834
Subtotal	$	96,282	$	37,272	$	10,459	$	144,013
Accrued income and plan receivables							285
Fully benefit-responsive investment contract							2,699
Total							$	146,997


At September 30, 2022	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	6,178	$	—	$	—	$	6,178
Government and agency securities	25,932		2,703		—		28,635

Debt instruments	1,326		3,604		—		4,930
Equity securities	59,190		—		—		59,190
Commingled funds	—		8,088		9,484		17,572

Limited partnerships and hedge fund investments	—		22,662		—		22,662
Other Securities	1,845		—		—		1,845
Subtotal	$	94,471	$	37,057	$	9,484	$	141,012
Accrued income and plan receivables							265
Fully benefit-responsive investment contract							2,814
Total							$	144,091

The following table represents level 3 significant unobservable inputs for the years ended September 30, 2023 and 2022:


	Significant Unobservable Inputs (Level 3)

As of October 1, 2021	$	11,286

Purchases, issuances and settlements	150
Gains and losses	(1,952)
As of September 30, 2022	9,484
Purchases, issuances and settlements	—
Gains and losses	975
As of September 30, 2023	$	10,459

Employee Stock Ownership Plan (ESOP) Disclosures

The ESOP shares were as follows:


	At September 30,
	2023	2022
Allocated shares	4,409,113	3,938,384
Unallocated shares	195,827	1,024,642
Total	4,604,940	4,963,026

EMPLOYEE BENEFIT PLANS - Schedule of net periodic costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Amortization of:
Total net periodic (benefits) costs	$ 866	$ (4,256)	$ (907)
Pension Plan
Net periodic (benefits) costs:
Interest cost	6,814	3,448	2,816
Expected return on plan assets	(10,213)	(11,255)	(10,177)
Amortization of:
Prior service costs	0	0	0
Actuarial loss	3,314	2,818	5,776
Total net periodic (benefits) costs	(85)	(4,989)	(1,585)
Supplemental Employee Retirement Plan
Net periodic (benefits) costs:
Interest cost	488	172	162
Expected return on plan assets	0	0	0
Amortization of:
Prior service costs	0	0	0
Actuarial loss	463	561	516
Total net periodic (benefits) costs	$ 951	$ 733	$ 678

EMPLOYEE BENEFIT PLANS - Pension and post-retirement plan assets by asset category (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 146,997	$ 144,091
Defined benefit plan, fair value of plan assets, subtotal excluding accrued income and plan receivables	144,013	141,012
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets, subtotal excluding accrued income and plan receivables	96,282	94,471
Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets, subtotal excluding accrued income and plan receivables	37,272	37,057
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10,459	9,484	$ 11,286
Defined benefit plan, fair value of plan assets, subtotal excluding accrued income and plan receivables	10,459	9,484
Cash and equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	4,889	6,178
Cash and equivalents \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	4,889	6,178
Cash and equivalents \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Cash and equivalents \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Government agency securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	29,361	28,635
Government agency securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	26,824	25,932
Government agency securities \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	2,537	2,703
Government agency securities \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Debt instruments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	5,198	4,930
Debt instruments \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	1,253	1,326
Debt instruments \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	3,945	3,604
Debt instruments \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	61,482	59,190
Equity securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	61,482	59,190
Equity securities \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Equity securities \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Commingled funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	19,481	17,572
Commingled funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Commingled funds \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	9,022	8,088
Commingled funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	10,459	9,484
Limited partnerships and hedge fund investments
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	21,768	22,662
Limited partnerships and hedge fund investments \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Limited partnerships and hedge fund investments \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	21,768	22,662
Limited partnerships and hedge fund investments \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Other Securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	1,834	1,845
Other Securities \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	1,834	1,845
Other Securities \| Significant Other Observable Inputs (Level 2)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Other Securities \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Accrued income and plan receivables
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	285	265
Fully benefit-responsive investment contract
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 2,699	$ 2,814

EMPLOYEE BENEFIT PLANS - Significant unobservable inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of fiscal year	$ 144,091
Fair value of plan assets at end of fiscal year	146,997	$ 144,091
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of fiscal year	9,484	11,286
Purchases, issuances and settlements	0	150
Gains and losses	975	(1,952)
Fair value of plan assets at end of fiscal year	$ 10,459	$ 9,484

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

RESTRUCTURING CHARGES - Summary of the restructuring and other related charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 92,468	$ 16,782	$ 21,418
Personnel related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	16,772	4,124	3,190
Facilities, exit costs and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	16,764	7,827	11,573
Non-cash facility and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	58,932	4,831	6,655
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	82,028	7,964	7,923
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 10,440	$ 8,818	$ 13,495

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

OTHER COMPREHENSIVE INCOME (LOSS) - Summary of amounts reclassified from accumulated other comprehensive income (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax	$ (35,065)	$ (16,836)	$ (39,653)
Net income (loss)	77,617	(191,558)	79,211
Pension amortization \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before taxes from continuing operations	(3,777)	(3,379)	(6,292)
Cash flow hedges \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before taxes from continuing operations	1,678	4,741	(2,204)
AOCI attributable to parent \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before taxes from continuing operations	(2,099)	1,362	(8,496)
Tax	441	(286)	1,784
Net income (loss)	$ (1,658)	$ 1,076	$ (6,712)

- 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.

+ References

+ Details

OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Sep. 30, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

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


	Years Ended September 30,
	2023						2022						2021
	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Foreign currency translation adjustments	$	8,447	$	—	$	8,447	$	(37,920)	$	—	$	(37,920)	$	6,433	$	—	$	6,433
Pension and other defined benefit plans	8,418		(1,784)		6,634		1,907		(404)		1,503		22,583		(4,787)		17,796
Cash flow hedge	(3,363)		1,010		(2,353)		(491)		147		(344)		2,694		(808)		1,886

Total other comprehensive income (loss)	$	13,502	$	(774)	$	12,728	$	(36,504)	$	(257)	$	(36,761)	$	31,710	$	(5,595)	$	26,115

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


	At September 30,
	2023		2022
Foreign currency translation	(48,723)		(57,170)
Pension and other defined benefit plans	(20,665)		(27,299)
Cash flow hedge	(622)		1,731

Total	$	(70,010)	$	(82,738)

Total comprehensive income (loss) were as follows:


	For the Years Ended September 30,
	2023		2022		2021
Net income (loss)	$	77,617	$	(191,558)	$	79,211
Other comprehensive income (loss), net of taxes	12,728		(36,761)		26,115
Comprehensive income (loss)	$	90,345	$	(228,319)	$	105,326

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


	For the Years Ended September 30,
Gain (Loss)	2023		2022		2021
Pension amortization	$	(3,777)	$	(3,379)	$	(6,292)


Cash flow hedges	1,678		4,741		(2,204)
Total before tax	(2,099)		1,362		(8,496)
Tax	441		(286)		1,784
Net of tax	$	(1,658)	$	1,076	$	(6,712)

INCOME TAXES - Provision (benefit) for income taxes on income from continuing operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Current	$ 72,860	$ 73,542	$ 25,890
Deferred	(37,795)	(56,706)	13,763
Total	35,065	16,836	39,653
U.S. Federal	23,612	(5,178)	14,305
State and local	5,899	14,361	7,117
Non-U.S.	$ 5,554	$ 7,653	$ 18,231

- Definition

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

+ References + Details

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 2,685,183	$ 2,848,488	$ 2,270,626
Cost of goods and services	1,736,362	1,911,602	1,629,513
Gross profit	948,821	936,886	641,113
Selling, general and administrative expenses	642,734	608,926	470,530
Goodwill and intangible asset impairments	109,200	517,027	0
Total operating expenses	751,934	1,125,953	470,530
Income (loss) from continuing operations	196,887	(189,067)	170,583
Other income (expense)
Interest expense	(101,445)	(84,379)	(63,175)
Interest income	2,094	215	440
Gain on sale of buildings	12,655	0	0
Debt extinguishment, net	(437)	(4,529)	0
Other, net	2,928	6,881	2,107
Total other income (expense)	(84,205)	(81,812)	(60,628)
Income (loss) before taxes from continuing operations	112,682	(270,879)	109,955
Provision for income taxes	35,065	16,836	39,653
Income (loss) from continuing operations	77,617	(287,715)	70,302
Discontinued operations:
Income before tax from discontinued operations	0	116,345	10,121
Provision for income taxes	0	20,188	1,212
Income from discontinued operations	0	96,157	8,909
Net income (loss)	$ 77,617	$ (191,558)	$ 79,211
Basic earnings (loss) per common share:
Income (loss) from continuing operations (in usd per share)	$ 1.49	$ (5.57)	$ 1.38
Income (loss) from discontinued operations (in usd per share)	0	1.86	0.18
Basic earnings (loss) per common share (in usd per share)	$ 1.49	$ (3.71)	$ 1.56
Weighted-average shares outstanding (in shares)	52,111	51,672	50,830
Diluted earnings (loss) per common share:
Income (loss) from continuing operations (in usd per share)	$ 1.42	$ (5.57)	$ 1.32
Income (loss) from discontinued operations (in usd per share)	0	1.86	0.17
Diluted earnings (loss) per common share (in usd per share)	$ 1.42	$ (3.71)	$ 1.48
Weighted-average shares outstanding (in shares)	54,612	51,672	53,369
Net income (loss)	$ 77,617	$ (191,558)	$ 79,211
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	8,447	(37,920)	6,433
Pension and other post retirement plans	6,634	1,503	17,796
Gain (loss) on cash flow hedge	(2,353)	(344)	1,886
Total other comprehensive income (loss), net of taxes	12,728	(36,761)	26,115
Comprehensive income (loss)	$ 90,345	$ (228,319)	$ 105,326

EARNINGS PER SHARE (Tables)

12 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table is a reconciliation of the share amounts (in thousands) used in computing basic and diluted EPS for 2023, 2022 and 2021:


	2023	2022	2021
Common shares outstanding	53,062	57,064	56,613
Unallocated ESOP shares	(196)	(1,025)	(1,863)
Non-vested restricted stock	(3,111)	(3,457)	(3,601)
Impact of weighted average shares	2,356	(910)	(319)
Weighted average shares outstanding - basic	52,111	51,672	50,830
Incremental shares from stock based compensation	2,501	—	2,539

Weighted average shares outstanding - diluted	54,612	51,672	53,369

Anti-dilutive restricted stock excluded from diluted EPS computation	—	2,294	—

AUDITOR INFORMATION	12 Months Ended
AUDITOR INFORMATION	Sep. 30, 2023
Auditor Information [Abstract]
Auditor Name	GRANT THORNTON LLP
Auditor Location	New York, New York
Auditor Firm ID	248

INCOME TAXES - Schedule of deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Deferred tax assets:
Bad debt reserves	$ 2,537	$ 2,873
Inventory reserves	11,764	5,005
Deferred compensation (equity compensation and defined benefit plans)	5,929	8,658
Compensation benefits	5,118	4,859
Insurance reserve	2,823	2,660
Restructuring reserve	4,224	0
Warranty reserve	6,912	3,402
Lease liabilities	47,077	49,649
Net operating loss	15,459	20,528
Tax credits	5,933	5,933
Research & Development	5,281	0
Other reserves and accruals	5,312	5,553
Deferred tax assets, gross	118,369	109,120
Valuation allowance	(17,992)	(13,490)
Total deferred tax assets	100,377	95,630
Deferred tax liabilities:
Goodwill and intangibles	(48,859)	(25,484)
Property, plant and equipment	(99,637)	(158,074)
Right-of-use assets	(44,499)	(47,949)
Unremitted Foreign Earnings	(1,894)	0
Other	(1,179)	(1,224)
Total deferred tax liabilities	(196,068)	(232,731)
Net deferred tax liabilities	$ (95,691)	$ (137,101)

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Consolidation	Consolidation The consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The results of operations of acquired businesses are included from the dates of acquisitions.
Earnings per share	Earnings per share Due to rounding, the sum of earnings per share may not equal earnings per share of Net income.
Discontinued operations	Discontinued operationsFor the years ended September 30, 2023, 2022 and 2021, discontinued operations includes the Telephonics business, and the assets and liabilities of discontinued installations business and other discontinued activities which have been segregated from Griffon's continuing operations primarily related to insurance claims, product liability, warranty and environmental reserves.
Reclassifications	Reclassifications Certain amounts in prior years have been reclassified to conform to the current year presentation.
Use of estimates	Use of estimatesThe 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, 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.
Cash and equivalents	Cash and equivalents Griffon considers all highly liquid investments purchased with an initial maturity of three months or less to be cash equivalents. Cash equivalents primarily consist of overnight commercial paper, highly-rated liquid money market funds backed by U.S. Treasury securities and U.S. Agency securities. Griffon had cash in non-U.S. bank accounts of approximately $45,500 and $54,200 at September 30, 2023 and 2022, respectively. Substantially all U.S. cash and equivalents are in excess of FDIC insured limits. Griffon regularly evaluates the financial stability of all institutions and funds that hold its cash and equivalents.
Fair value of financial instruments	Fair value of financial instruments The carrying values of cash and cash equivalents, accounts receivable, accounts and notes payable and revolving credit and Term Loan B 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 debt is based upon current market rates. The fair value hierarchy, as outlined in the applicable accounting guidance, establishes a fair value hierarchy that requires 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 Company accounts for acquisitions under the acquisition method, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition using a method substantially similar to the goodwill impairment test methodology (level 3 inputs). The operating results of the acquired companies are included in Griffon’s consolidated financial statements from the date of acquisition in each instance.
Non-U.S. currency translation	Non-U.S. currency translation Assets and liabilities of non-U.S. subsidiaries, where the functional currency is not the U.S. dollar, have been translated at year-end exchange rates and profit and loss accounts have been translated using weighted average exchange rates during the applicable fiscal year. Adjustments resulting from currency translation are recorded in AOCI as cumulative translation adjustments. The Company recognized cumulative translation gains of $8,447 during 2023 and losses of $37,920 during 2022. As of September 30, 2023 and 2022, the cumulative foreign currency translation recorded in AOCI was a loss of $48,723 and $57,170, respectively. Assets and liabilities of an entity that are denominated in currencies other than that entity’s functional currency are re-measured into the functional currency using period end exchange rates, or historical rates where applicable to certain balances. Gains and losses arising on remeasurements are recorded within the Consolidated Statement of Operations and Comprehensive Income as a component of Other income (expense).
Revenue recognition	Revenue recognition The 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 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, and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment. The 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). A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when each performance obligation is satisfied. A majority of the Company’s contracts have a single performance obligation which represents, in most cases, the product being sold to the customer. To a lesser extent, some contracts include multiple performance obligations such as a product, the related installation, and extended warranty services. These contracts require judgment in determining the number of performance obligations. For contracts with multiple performance obligations, judgment is required to determine whether performance obligations specified in these contracts are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of contracts, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. The Company uses an observable price to determine the stand-alone selling price for separate performance obligations or a cost plus margin approach when one is not available. The transaction price includes variable consideration, such as discounts and volume rebates, when it is probable that a significant reversal of revenue recognized will not occur. Variable consideration is determined using either the expected value or the most likely amount of consideration to be received based on historical experience and the specific facts and circumstances at the time of evaluation. See Note 19 - Business Segments for revenue from contracts with customers disaggregated by end markets, segments and geographic location. 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 and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment. A majority of the Company's revenue is short cycle in nature with shipments occurring within one year from order and does not include a material long-term financing component, implicitly or explicitly. Payment terms generally range between 15 to 90 days and vary by the location of the business, the type of products manufactured to be sold and the volume of products sold, among other factors. The Company recognizes revenue from product sales when all factors are met, including when control of a product transfers to the customer upon its shipment, completion of installation, testing, certification or other substantive acceptance required under the contract. Other than standard product warranty provisions, sales arrangements provide for no significant post-shipment obligations on the Company. From time-to-time and for certain customers, rebates and other sales incentives, promotional allowances or discounts are offered, typically related to customer purchase volumes, all of which are fixed or determinable and are classified as a reduction of revenue and recorded at the time of sale. Griffon provides for sales returns and allowances based upon historical returns experience. The Company includes shipping costs billed to customers in revenue and the related shipping costs in either Cost of Goods and Services or Selling, General and Administrative expenses. The majority of the Company’s contracts offer assurance-type warranties in connection with the sale of a product to a customer. Assurance-type warranties provide a customer with assurance that the related product will function as the parties intended because it complies with agreed-upon specifications. Such warranties do not represent a separate performance obligation. Payment terms vary depending on the type and location of the customer and the products or services offered. Generally, the period between the time revenue is recognized and the time payment is due is not significant. Shipping and handling charges are not considered a separate performance obligation. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue.
Accounts receivable, expected loss allowance for doubtful accounts and concentrations of credit risk	Accounts receivable, expected loss allowance for doubtful accounts and concentrations of credit risk Accounts receivable is composed principally of trade accounts receivable, that arise from the sale of goods or services on account, and is stated at historical cost. A substantial portion of Griffon’s trade receivables are from Home Depot, whose financial condition is dependent on the construction and related retail sectors of the economy. As a percentage of consolidated accounts receivable, Home Depot was 13%. Griffon performs continuing evaluations of the financial condition of its customers, and although Griffon generally does not require collateral, letters of credit may be required from customers in certain circumstances. Trade receivables are recorded at the stated amount, less expected loss allowance for doubtful accounts and, when appropriate, for customer program reserves and cash discounts. The expected loss allowance represents estimated uncollectible receivables associated with potential customer defaults on contractual obligations (usually due to customers’ potential insolvency). The expected loss allowance for doubtful accounts includes amounts for certain customers where 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. The provision related to the expected loss allowance for doubtful accounts is recorded in Selling, general and administrative ("SG&A") expenses. The Company writes-off accounts receivable when they are deemed to be uncollectible. Customer program reserves and cash discounts are netted against accounts receivable when it is customer practice to reduce invoices for these amounts. The amounts netted against accounts receivable in 2023 and 2022 were $106,166 and $80,482, respectively. All accounts receivable amounts are expected to be collected in less than one year. The Company does not currently have customers or contracts that prescribe specific retainage provisions.
Inventories	Inventories Inventories, stated at the lower of cost (first-in, first-out or average) or net realizable value, include material, labor and manufacturing overhead costs. Griffon’s businesses typically do not require inventory that is susceptible to becoming obsolete or dated. In general, HBP produces residential and commercial sectional garage doors, commercial rolling steel door and grille products, and CPP produces long-handled tools and landscaping products, and storage and organizational products, both in response to orders from customers of retailers and dealers or based on expected orders, as applicable.
Long-Lived Assets	Long-Lived Assets, Including Intangible Assets Property, plant and equipment includes the historical cost of land, buildings, equipment and significant improvements to existing plant and equipment or, in the case of acquisitions, a fair market value appraisal of such assets completed at the time of acquisition. Expenditures for maintenance, repairs and minor renewals are expensed as incurred. When property or equipment is sold or otherwise disposed of, the related cost and accumulated depreciation is removed from the respective accounts and the gain or loss is recognized. Depreciation expense, which includes amortization of assets under capital leases, was $43,056, $46,443 and $42,741 in 2023, 2022 and 2021, respectively, and was calculated on a straight-line basis over the estimated useful lives of the assets. Depreciation included in SG&A expenses was $17,598, $16,683 and $14,362 in 2023, 2022 and 2021, respectively. The remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services. Estimated useful lives for property, plant and equipment are as follows: buildings and building improvements, 25 to 40 years; machinery and equipment, 2 to 15 years; and leasehold improvements, over the term of the lease or life of the improvement, whichever is shorter.
Intangible Assets	Long-lived assets, including customer relationships and software, and tangible assets, primarily property, plant and equipment, are amortized over their expected useful lives, generally eight to 25 years, and involves significant assumptions and estimates. We assess the recoverability of the carrying amount of our long-lived assets, including amortizable intangible assets, whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. We evaluate the recoverability of such assets based on the expectations of undiscounted cash flows attributable to the asset group. If the sum of the expected future undiscounted cash flows are less than the carrying amount of the asset group, a loss would be recognized for the difference between the fair value and the carrying amount. For the fiscal years ended September 30, 2023 and 2022, we tested long-lived intangible and tangible assets for impairment by comparing estimated future undiscounted cash flows of each CPP asset group to the carrying amount of the asset group and determined that an impairment did not exist. No event or indicator of impairment existed for the HBP assets groups.
Goodwill and indefinite-lived intangibles	Goodwill and indefinite-lived intangibles Goodwill represents the excess of the cost of net assets acquired in business combinations over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. We test goodwill and indefinite-lived intangibles for impairment at least annually in the fourth quarter, and more frequently whenever events or circumstances change that would more likely than not reduce the fair value below the carrying amount. Such events or changes in circumstance include significant deterioration in overall economic conditions, changes in the business climate in which our reporting units operate, a decline in our market capitalization, operating performance indicators, when some portion of a reporting unit is disposed of or classified as held for sale, or when a change in the composition of reporting units occurs for other reasons, such as a change in operating segments. To test goodwill and indefinite-lived intangible assets for impairment, we may perform both a qualitative assessment and quantitative assessment. If we elect to perform a qualitative assessment, we consider operating results as well as circumstances impacting the operations or cash flows of the reporting unit or indefinite-lived intangible assets, including macroeconomic conditions, industry and market conditions and reporting unit events and circumstances. For the quantitative test, the assessment is based on both an income-based and market-based valuation approach. If it is determined that an impairment exists, we recognize an impairment loss for the amount by which the carrying amount of the reporting unit or indefinite-lived intangible asset exceeds its estimated fair value. Fair value estimates are based on assumptions believed to be reasonable at the time, but such assumptions are subject to inherent uncertainty. Actual results may differ materially from those estimates. Any changes in key assumptions or management judgment with respect to a reporting unit or its prospects, which may result from a decline in Griffon’s stock price, a change in market conditions, market trends, interest rates or other factors outside of Griffon’s control, or significant underperformance relative to historical or projected future operating results, could result in a significantly different estimate of the fair value of Griffon’s reporting units, which could result in an impairment charge in the future.
Leases	Leases 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. 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. 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 Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, net, other accrued liabilities, and other non-current liabilities. 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 Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. The Company has lease agreements that contain both lease and non-lease components. For real estate leases, we account for lease components together with non-lease components (e.g., common-area maintenance).
Income taxes	Income taxes We are subject to Federal, state and local income taxes in the U.S. and in various taxing jurisdictions outside the U.S. We recognize deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns in accordance with applicable accounting guidance for accounting for income taxes, using currently enacted tax rates in effect for the year in which the differences are expected to reverse. We record a valuation allowance when necessary to reduce deferred tax assets to the amount expected to be realized. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Both positive and negative evidence are considered in forming our judgment as to whether a valuation allowance is appropriate, and more weight is given to evidence that can be objectively verified. Valuation allowances are reassessed whenever there are changes in circumstances that may cause a change in judgment. The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition of tax positions taken or expected to be taken in a tax return. We record, as needed, a liability for the difference between the benefit recognized for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Interest and penalties recognized on the liability for unrecognized tax benefits is recorded as income tax expense.
Research and development costs, shipping and handling costs and advertising costs	Research and development costs, shipping and handling costs and advertising costs Research and development costs are charged to SG&A expense as incurred and amounted to approximately $18,000 in 2023, $16,000 in 2022 and $7,000 in 2021. Total shipping and handling costs included in both COGS and SG&A were $123,100 in 2023, $130,830 in 2022 and $113,700 in 2021, of which $67,300 in 2023, $69,000 in 2022 and $58,100 in 2021 were included in SG&A. Advertising costs, which are expensed as incurred in SG&A, was $28,000 in 2023, $27,000 in 2022 and $19,000 in 2021.
Risk, retention and insurance	Risk, retention and insurance Griffon’s property and casualty insurance programs contain various deductibles that, based on Griffon’s experience, are reasonable and customary for a company of its size and risk profile. Griffon generally maintains deductibles for claims and liabilities related primarily to workers’ compensation, general, product and automobile liability as well as property damage and business interruption losses resulting from certain events. Griffon does not consider any of the deductibles to represent a material risk to Griffon. Griffon accrues for claim exposures that are probable of occurrence and can be reasonably estimated. Insurance is maintained to transfer risk beyond the level of self-retention and provides protection on both an individual claim and annual aggregate basis.
Pension benefits	Pension benefits Griffon sponsors defined and supplemental benefit pension plans for certain retired employees. Annual amounts relating to these plans are recorded based on actuarial projections, which include various actuarial assumptions, including discount rates, assumed rates of return, compensation increases and turnover rates. Actuarial assumptions used to determine pension liabilities, assets and expense are reviewed annually and modified based on current economic conditions and trends. The expected return on plan assets is determined based on the nature of the plan's investments and expectations for long-term rates of return. The discount rate used to measure obligations is based on a corporate bond spot-rate yield curve that matches projected future benefit payments, with the appropriate spot rate applicable to the timing of the projected future benefit payments. Assumptions used in determining Griffon’s obligations under the defined benefit pension plans are believed to be reasonable, based on experience and advice from independent actuaries; however, differences in actual experience or changes in assumptions may materially impact Griffon’s financial position or results of operations. All of the defined benefit plans are frozen and have ceased accruing benefits.
Issued but not yet effective accounting pronouncements and New Accounting Standards Implemented	Issued but not yet effective accounting pronouncements In October 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-06, Disclosure Improvements: Amendments - Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative. The FASB issued the standard to introduce changes to US GAAP that originate in either SEC Regulation S-X or S-K, which are rules about the form and content of financial reports. The provisions of the standard are contingent when the SEC removes the related disclosure provisions from Regulation S-X and S-K. The company does not expect the provisions of the standard to have a material impact on the Company's financial statements and related disclosures. New Accounting Standards Implemented In October 2021, the 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 was effective for the Company beginning in fiscal 2023. Adoption of this standard did not have an 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.

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS - Schedule of valuation and qualifying accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Next-generation Business Platform \| Consumer and Professional Products
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Impairment of inventory	$ 37,100	$ 3,805	$ 4,158
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	12,137	8,787	8,178
Additions	971	1,172	795
Reductions	(1,186)	(251)	(393)
Other	(658)	2,429	207
Balance at End of Year	11,264	12,137	8,787
Inventory valuation
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	22,875	31,605	18,903
Additions	44,570	4,725	24,400
Reductions	(11,692)	(14,103)	(12,099)
Other	(16)	648	401
Balance at End of Year	55,737	22,875	31,605
Deferred tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	13,490	10,425	9,824
Additions	4,502	4,330	601
Reductions	0	(1,265)	0
Other	0	0	0
Balance at End of Year	$ 17,992	$ 13,490	$ 10,425

INCOME TAXES - Schedule of effective income tax rate reconciliation (Details)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
U.S. Federal statutory income tax rate	21.00%	21.00%	21.00%
State and local taxes, net of Federal benefit	(0.20%)	(5.30%)	4.80%
Non-U.S. taxes - foreign permanent items and taxes	1.40%	(1.50%)	3.10%
Change in tax contingency reserves	(0.40%)	(0.10%)	0.20%
Impact of foreign rate change on deferred tax balances	0.00%	0.00%	2.80%
Tax Reform-Repatriation of Foreign Earnings and GILTI	0.50%	0.20%	0.40%
Change in valuation allowance	3.90%	(1.70%)	0.40%
Other non-deductible/non-taxable items, net	0	(0.004)	0.004
Non-deductible officer's compensation	5.10%	(1.90%)	4.00%
Research and U.S. foreign tax credits	(0.90%)	0.20%	(0.10%)
Goodwill impairment	0.00%	(17.10%)	0.00%
Share based compensation	0.80%	0.40%	(2.00%)
Other	(0.10%)	0.00%	1.10%
Effective tax rate	31.10%	(6.20%)	36.10%

OTHER COMPREHENSIVE INCOME (LOSS) - Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 315,244	$ 477,570	$ 807,158	$ 700,151
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(48,723)	(57,170)
Pension amortization
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(20,665)	(27,299)
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(622)	1,731
AOCI attributable to parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ (70,010)	$ (82,738)	$ (45,977)	$ (72,092)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

REVENUE (Details) - Construction and Professional Products and Home and Building Products Segments	12 Months Ended
	Sep. 30, 2023
Minimum
Disaggregation of Revenue [Line Items]
Payment term	15 days
Maximum
Disaggregation of Revenue [Line Items]
Payment term	90 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation, purchases during period	$ 184,422	$ 255,661	$ 235,148
Purchase obligation, due in next twelve months	160,539
Purchase obligation due in second year	3,622
Purchase obligation due in third year	$ 0

ACQUISITIONS - Schedule of goodwill and intangible asset classifications (Details) - USD ($) $ in Thousands	Jan. 24, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Goodwill		$ 327,864	$ 335,790	$ 426,148
Hunter Fan Company
Business Acquisition [Line Items]
Goodwill	$ 250,711
Indefinite-lived intangibles (Hunter and Casablanca brands)	356,000
Definite-lived intangibles (Customer relationships)	260,000
Total goodwill and intangible assets	$ 866,711
Amortization period (years)	20 years

- Definition

+ References + Details

GOODWILL AND INTANGIBLES - Summary of gross carrying value and accumulated amortization of intangible assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 458,668	$ 456,411
Trademarks	293,447	399,668
Total intangible assets	752,115	856,079
Accumulated Amortization	116,872	94,165
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	443,164	442,085
Accumulated Amortization	$ 113,057	91,143
Average Life (Years)	23 years
Unpatented technology
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 15,504	14,326
Accumulated Amortization	$ 3,815	$ 3,022
Average Life (Years)	13 years

LONG-TERM DEBT - Summary of long-term debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2020
Debt Instrument [Line Items]
Outstanding Balance	$ 1,489,812	$ 1,595,560
less: Current portion	(9,625)	(12,653)
Long-term debt	1,480,187	1,582,907
Original Issuer Premium (Discount)	(704)	(878)
Capitalized Fees & Expenses	(19,579)	(21,031)
Balance Sheet	1,469,529	1,573,651
less: Current portion	(9,625)	(12,653)
Long-term debt	1,459,904	1,560,998
Senior Notes due 2028
Debt Instrument [Line Items]
Outstanding Balance	974,775	974,775
Original Issuer Premium (Discount)	218	266
Capitalized Fees & Expenses	(8,920)	(10,939)
Balance Sheet	$ 966,073	$ 964,102
Coupon Interest Rate	5.75%	5.75%
Term Loan B due 2029
Debt Instrument [Line Items]
Outstanding Balance	$ 463,000	$ 496,000
Original Issuer Premium (Discount)	(922)	(1,144)
Capitalized Fees & Expenses	(7,039)	(8,823)
Balance Sheet	455,039	486,033
Revolver due 2028
Debt Instrument [Line Items]
Outstanding Balance	50,445
Original Issuer Premium (Discount)	0
Capitalized Fees & Expenses	(3,606)
Balance Sheet	46,839
Revolver due 2025
Debt Instrument [Line Items]
Outstanding Balance		97,328
Original Issuer Premium (Discount)		0
Capitalized Fees & Expenses		(1,227)
Balance Sheet		96,101
Finance lease - real estate
Debt Instrument [Line Items]
Outstanding Balance		13,091
Original Issuer Premium (Discount)		0
Capitalized Fees & Expenses		0
Balance Sheet		13,091
Non U.S. lines of credit
Debt Instrument [Line Items]
Outstanding Balance	0	0
Original Issuer Premium (Discount)	0	0
Capitalized Fees & Expenses	(3)	(2)
Balance Sheet	(3)	(2)
Non U.S. term and mortgage loans
Debt Instrument [Line Items]
Outstanding Balance		12,090
Original Issuer Premium (Discount)		0
Capitalized Fees & Expenses		(27)
Balance Sheet		12,063
Other debt
Debt Instrument [Line Items]
Outstanding Balance	1,592	2,276
Original Issuer Premium (Discount)	0	0
Capitalized Fees & Expenses	(11)	(13)
Balance Sheet	$ 1,581	$ 2,263
Senior Notes \| Senior Notes due 2028
Debt Instrument [Line Items]
Capitalized Fees & Expenses			$ (16,448)

STOCKHOLDERS' EQUITY AND EQUITY COMPENSATION (Tables)

12 Months Ended

Sep. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

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


	For the Years Ended September 30,
	2023		2022		2021
Restricted stock	$	20,529	$	18,810	$	16,410
ESOP(1)	20,583		14,325		3,678
Total stock-based compensation	$	41,112	$	33,135	$	20,088

________________________

(1) During the year ended September 30, 2023 and 2022, special dividend ESOP charges included in compensation expense were $15,494 and $10,538, respectively.

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of restricted stock activity, inclusive of restricted stock units, for 2023 is as follows:


	Shares	Weighted Average Grant- Date Fair Value
Unvested at September 30, 2022	3,703,567	$	24.70
Granted	506,649	29.73
Vested	(961,119)	35.60
Forfeited	—	—
Unvested at September 30, 2023	3,249,097	20.40

REPORTABLE SEGMENTS - Schedule of summary of segment assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Continuing assets	$ 2,413,588	$ 2,810,699
Other discontinued operations	5,291	5,775
Total Assets	2,418,879	2,816,474
Operating
Segment Reporting Information [Line Items]
Continuing assets	2,283,249	2,652,389
Corporate
Segment Reporting Information [Line Items]
Continuing assets	130,339	158,310
Home and Building Products \| Operating
Segment Reporting Information [Line Items]
Continuing assets	703,661	737,860
Consumer and Professional Products \| Operating
Segment Reporting Information [Line Items]
Continuing assets	$ 1,579,588	$ 1,914,529

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

+ Details

REVENUE	12 Months Ended
REVENUE	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The 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). A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when each performance obligation is satisfied. A majority of the Company’s contracts have a single performance obligation which represents, in most cases, the product being sold to the customer. To a lesser extent, some contracts include multiple performance obligations such as a product, the related installation, and extended warranty services. These contracts require judgment in determining the number of performance obligations. For contracts with multiple performance obligations, judgment is required to determine whether performance obligations specified in these contracts are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of contracts, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. The Company uses an observable price to determine the stand-alone selling price for separate performance obligations or a cost plus margin approach when one is not available. The transaction price includes variable consideration, such as discounts and volume rebates, when it is probable that a significant reversal of revenue recognized will not occur. Variable consideration is determined using either the expected value or the most likely amount of consideration to be received based on historical experience and the specific facts and circumstances at the time of evaluation. See Note 19 - Business Segments for revenue from contracts with customers disaggregated by end markets, segments and geographic location. 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 and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment. A majority of the Company's revenue is short cycle in nature with shipments occurring within one year from order and does not include a material long-term financing component, implicitly or explicitly. Payment terms generally range between 15 to 90 days and vary by the location of the business, the type of products manufactured to be sold and the volume of products sold, among other factors. The Company recognizes revenue from product sales when all factors are met, including when control of a product transfers to the customer upon its shipment, completion of installation, testing, certification or other substantive acceptance required under the contract. Other than standard product warranty provisions, sales arrangements provide for no significant post-shipment obligations on the Company. From time-to-time and for certain customers, rebates and other sales incentives, promotional allowances or discounts are offered, typically related to customer purchase volumes, all of which are fixed or determinable and are classified as a reduction of revenue and recorded at the time of sale. Griffon provides for sales returns and allowances based upon historical returns experience. The Company includes shipping costs billed to customers in revenue and the related shipping costs in either Cost of Goods and Services or Selling, General and Administrative expenses. The majority of the Company’s contracts offer assurance-type warranties in connection with the sale of a product to a customer. Assurance-type warranties provide a customer with assurance that the related product will function as the parties intended because it complies with agreed-upon specifications. Such warranties do not represent a separate performance obligation. Payment terms vary depending on the type and location of the customer and the products or services offered. Generally, the period between the time revenue is recognized and the time payment is due is not significant. Shipping and handling charges are not considered a separate performance obligation. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

WARRANTY LIABILITY - Summary of changes in warrant liability included in accrued liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of period	$ 16,786	$ 7,818
Warranties issued and changes in estimated pre-existing warranties	21,301	19,028
Actual warranty costs incurred	(17,306)	(16,413)
Other warranty liabilities assumed from acquisitions	0	6,353
Balance, end of period	$ 20,781	$ 16,786

REPORTABLE SEGMENTS (Tables)

12 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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


	For the Years Ended September 30,
REVENUE	2023		2022		2021

Home and Building Products	$	1,588,505	$	1,506,882	$	1,041,108
Consumer and Professional Products	1,096,678		1,341,606		1,229,518




Total revenue	$	2,685,183	$	2,848,488	$	2,270,626

The following table provides a reconciliation of segment adjusted EBITDA to income (loss) before taxes from continuing operations:


	For the Years Ended September 30,
	2023		2022		2021
Segment Adjusted EBITDA:
Home and Building Products	$	510,876	$	412,738	$	181,015
Consumer and Professional Products	50,343		99,308		115,673





Segment Adjusted EBITDA	561,219		512,046		296,688
Unallocated amounts, excluding depreciation	(55,887)		(53,888)		(50,278)
Adjusted EBITDA	505,332		458,158		246,410
Net interest expense	(99,351)		(84,164)		(62,735)
Depreciation and amortization	(65,445)		(64,658)		(52,302)
Goodwill and intangible impairments	(109,200)		(517,027)		—
Restructuring charges	(92,468)		(16,782)		(21,418)
Debt extinguishment, net	(437)		(4,529)		—

Acquisition costs	—		(9,303)		—
Strategic review - retention and other	(20,225)		(9,683)		—
Special dividend ESOP charges	(15,494)		(10,538)		—
Gain on sale of buildings	12,655		—		—
Proxy expenses	(2,685)		(6,952)		—
Fair value step-up of acquired inventory sold	—		(5,401)		—
Income (loss) before taxes from continuing operations	$	112,682	$	(270,879)	$	109,955

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	For the Years Ended September 30,
DEPRECIATION and AMORTIZATION	2023		2022		2021
Segment:
Home and Building Products	$	15,066	$	16,539	$	17,370
Consumer and Professional Products	49,811		47,562		34,433




Total segment depreciation and amortization	64,877		64,101		51,803
Corporate	568		557		499
Total consolidated depreciation and amortization	$	65,445	$	64,658	$	52,302

CAPITAL EXPENDITURES
Segment:
Home and Building Products(1)	$	24,065	$	11,029	$	8,648
Consumer and Professional Products(2)	39,476		31,279		28,265





Total segment	63,541		42,308		36,913
Corporate(3)	63		180		38
Total consolidated capital expenditures	$	63,604	$	42,488	$	36,951

________________________

(1) During the year ended September 30, 2023, HBP's capital expenditures included approximately $6,000 in connection with the purchase of HBP's Mason headquarters.

(2) During the year ended September 30, 2023, CPP's capital expenditures included approximately $23,207 in connection with the purchase of CPP's Ocala, Florida manufacturing facility. This above table excludes proceeds from the sale of real estate of approximately $8,900.

(3) During the year ended September 30, 2023, Corporate's capital expenditures exclude proceeds from the sale of real estate of approximately $11,800.


ASSETS	At September 30, 2023		At September 30, 2022
Segment assets:
Home and Building Products	$	703,661	$	737,860
Consumer and Professional Products	1,579,588		1,914,529



Total segment assets	2,283,249		2,652,389
Corporate	130,339		158,310
Total continuing assets	2,413,588		2,810,699

Other discontinued operations	5,291		5,775
Consolidated total	$	2,418,879	$	2,816,474

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.


	For the Years Ended September 30,
	2023		2022		2021
Residential repair and remodel	757,088		736,525		516,995
Commercial	700,112		630,066		407,585
Residential new construction	131,305		140,291		116,528
Total Home and Building Products	1,588,505		1,506,882		1,041,108
Residential repair and remodel	$	377,775	$	392,490	$	185,896
Retail	267,046		456,735		577,839

Residential new construction	51,093		45,243		50,437
Industrial	78,308		76,430		43,411
International excluding North America	322,456		370,708		371,935
Total Consumer and Professional Products	1,096,678		1,341,606		1,229,518




Total Revenue	$	2,685,183	$	2,848,488	$	2,270,626

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


	For the Year Ended September 30, 2023
Revenue by Geographic Area - Destination	Home and Building Products		Consumer and Professional Products		Total
United States	$	1,515,479	$	716,098	$	2,231,577
Europe	18		51,041		51,059
Canada	62,897		75,477		138,374
Australia	—		231,764		231,764
All other countries	10,111		22,298		32,409
Total Revenue	$	1,588,505	$	1,096,678	$	2,685,183


	For the Year Ended September 30, 2022
Revenue by Geographic Area - Destination	Home and Building Products		Consumer and Professional Products		Total
United States	$	1,437,085	$	858,956	$	2,296,041
Europe	60		106,471		106,531
Canada	57,916		92,930		150,846
Australia	—		258,945		258,945
All other countries	11,821		24,304		36,125
Total Revenue	$	1,506,882	$	1,341,606	$	2,848,488


	For the Year Ended September 30, 2021
Revenue by Geographic Area - Destination	Home and Building Products		Consumer and Professional Products		Total
United States	$	986,925	$	766,150	$	1,753,075
Europe	72		123,607		123,679
Canada	44,661		85,676		130,337
Australia	—		244,674		244,674
All other countries	9,450		9,411		18,861
Total Revenue	$	1,041,108	$	1,229,518	$	2,270,626

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

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


	At September 30, 2023		At September 30, 2022
Land, building and building improvements	$	169,923	$	159,693
Machinery and equipment	447,972		511,779
Leasehold improvements	33,740		35,489
	651,635		706,961
Accumulated depreciation and amortization	(372,417)		(412,400)
Total	$	279,218	$	294,561

Except as described in Note 10, Restructuring Charges, no impairment occurred during the year ended September 30, 2023.

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On November 14, 2023, the Board of Directors declared a cash dividend of $0.15 per share, payable on December 14, 2023 to shareholders of record as of the close of business on November 28, 2023. Griffon currently intends to pay dividends each quarter; however, payment of dividends is determined by the Board of Directors, at its discretion, based on various factors, and no assurance can be provided as to the payment of future dividends. Subsequent to September 30, 2023 and through November 14, 2023, Griffon purchased 1,127,062 shares of its common stock for a total of $44,980, or $39.91 per share under Board authorized share repurchase programs. On November 15, 2023, Griffon announced a $200,000 increase to its share repurchase program which on November 15, 2023 had $262,203 available given effect to all repurchases through November 14, 2023. On November 15, 2023, Griffon granted 174,104 shares of restricted stock and restricted stock units to 43 executives and key employees, subject to certain performance conditions, with a vesting period of thirty-six months, with a total fair value of $8,225, or a weighted average fair value of $47.24 per share.

INCOME TAXES - Schedule of unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 6,808	$ 4,377
Additions based on tax positions related to the current year	208	172
Additions based on tax positions related to prior years	32	2,298
Reductions based on tax positions related to prior years	(16)
Lapse of Statutes	(740)	(39)
Settlements	0
Ending balance	$ 6,292	$ 6,808

REPORTABLE SEGMENTS - Schedule of disaggregated revenue by segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 2,685,183	$ 2,848,488	$ 2,270,626
Home and Building Products
Segment Reporting Information [Line Items]
Revenue	1,588,505	1,506,882	1,041,108
Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	1,096,678	1,341,606	1,229,518
Residential repair and remodel \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	757,088	736,525	516,995
Residential repair and remodel \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	377,775	392,490	185,896
Commercial \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	700,112	630,066	407,585
Retail \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	267,046	456,735	577,839
Residential new construction \| Home and Building Products
Segment Reporting Information [Line Items]
Revenue	131,305	140,291	116,528
Residential new construction \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	51,093	45,243	50,437
Industrial \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	78,308	76,430	43,411
International excluding North America \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	$ 322,456	$ 370,708	$ 371,935

RESTRUCTURING CHARGES (Tables)

12 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Cost


	For the Year Ended September 30,
	2023		2022		2021
Cost of goods and services	$	82,028	$	7,964	$	7,923
Selling, general and administrative expenses	10,440		8,818		13,495
Total restructuring charges	$	92,468	$	16,782	$	21,418


	For the Year Ended September 30,
	2023		2022		2021
Personnel related costs	$	16,772	$	4,124	$	3,190
Facilities, exit costs and other	16,764		7,827		11,573

Non-cash facility and other	58,932		4,831		6,655
Total	$	92,468	$	16,782	$	21,418

Schedule of Restructuring Reserve by Type of Cost

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


	Cash Charges		Cash Charges		Non-Cash Charges
	Personnel related costs		Facilities & Exit Costs		Facility and Other Costs		Total
Accrued liability at September 30, 2020	$	581	$	264	$	—	$	845
Charges	3,190		11,573		6,655		21,418
Payments	(3,353)		(11,573)		—		(14,926)
Non-cash charges (1)	—		—		(6,655)		(6,655)
Accrued liability at September 30, 2021	$	418	$	264	$	—	$	682
Charges	4,124		7,827		4,831		16,782
Payments	(4,156)		(7,827)		—		(11,983)
Non-cash charges (1)	—		—		(4,831)		(4,831)
Accrued liability at September 30, 2022	$	386	$	264	$	—	$	650
Charges	16,772		16,764		58,932		92,468
Payments	(3,051)		(11,477)		—		(14,528)
Non-cash charges (1)	—		—		(58,932)		(58,932)
Accrued liability at September 30, 2023	$	14,107	$	5,551	$	—	$	19,658
(1) Non-cash charges in Facility and Other Costs primarily represent the non-cash write-off of certain long-lived assets and inventory that has no recoverable value in connection with certain facility closures.

LEASES - Summary of supplemental balance sheet information (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Operating Leases:
Operating right-of-use assets	$ 169,942	$ 183,398
Lease Liabilities:
Current portion of operating lease liabilities	32,632	31,680
Long-term operating lease liabilities	147,224	159,414
Total operating lease liabilities	179,856	191,094
Finance Leases:
Property, plant and equipment, net	$ 994	$ 13,696
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	PROPERTY, PLANT AND EQUIPMENT, net	PROPERTY, PLANT AND EQUIPMENT, net
Lease Liabilities:
Notes payable and current portion of long-term debt	$ 280	$ 2,065
Long-term debt, net	184	11,995
Total financing lease liabilities	$ 464	$ 14,060
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
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-Term Debt, Excluding Current Maturities	Long-Term Debt, Excluding Current Maturities
Accumulated depreciation	$ 6,769	$ 4,972

WARRANTY LIABILITY

12 Months Ended

Sep. 30, 2023

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 the original purchase unless otherwise stated on the product or packaging from the date of original purchase. Warranty costs expected to be incurred in the next 12 months are classified in accrued liabilities. Warranty costs expected to be incurred beyond one year are classified in other long-term liabilities. The short-term warranty liability was $20,781 as of September 30, 2023 and 16,786 as of September 30, 2022. The long-term warranty liability was $1,239 at both September 30, 2023 and 2022.

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


	Years Ended September 30,
	2023		2022
Balance, beginning of period	$	16,786	$	7,818
Warranties issued and changes in estimated pre-existing warranties	21,301		19,028
Actual warranty costs incurred	(17,306)		(16,413)
Other warranty liabilities assumed from acquisitions	—		6,353
Balance, end of period	$	20,781	$	16,786

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Sep. 30, 2023

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II

GRIFFON CORPORATION

VALUATION AND QUALIFYING ACCOUNTS

For the Years Ended September 30, 2023, 2022 and 2021

(in thousands)


Description	Balance at Beginning of Year		Additions		Reductions		Other(1)		Balance at End of Year
FOR THE YEAR ENDED SEPTEMBER 30, 2023



Allowance for doubtful accounts	$	12,137	$	971	$	(1,186)	$	(658)	$	11,264

Inventory valuation(2)	$	22,875	$	44,570	$	(11,692)	$	(16)	$	55,737

Deferred tax valuation allowance	$	13,490	$	4,502	$	—	$	—	$	17,992

FOR THE YEAR ENDED SEPTEMBER 30, 2022



Allowance for doubtful accounts	$	8,787	$	1,172	$	(251)	$	2,429	$	12,137

Inventory valuation	$	31,605	$	4,725	$	(14,103)	$	648	$	22,875

Deferred tax valuation allowance	$	10,425	$	4,330	$	(1,265)	$	—	$	13,490

FOR THE YEAR ENDED SEPTEMBER 30, 2021



Allowance for doubtful accounts	$	8,178	$	795	$	(393)	$	207	$	8,787

Inventory valuation	$	18,903	$	24,400	$	(12,099)	$	401	$	31,605

Deferred tax valuation allowance	$	9,824	$	601	$	—	$	—	$	10,425

___________________________________________

(1) For the year ended September 30, 2022, Other primarily consists of foreign currency and opening balances of reserves assumed from the Hunter acquisition. See Note 6 for the detail on the Allowance for Doubtful Accounts.

(2) In connection with the Company's restructuring activities described in Note 10, Restructuring Charges, during the year ended September 30, 2023, CPP recorded an inventory impairment charge of $37,100 to adjust to net realizable value.

OTHER INCOME (EXPENSE)	12 Months Ended
OTHER INCOME (EXPENSE)	Sep. 30, 2023
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE)	OTHER INCOME (EXPENSE)For the year ended September 30, 2023, 2022 and 2021, Other income (expense) from continuing operations of $2,928, $6,881 and $2,107, respectively, includes $302, $305 and $(81), respectively, of net currency exchange transaction gains (losses) from receivables and payables held in non-functional currencies, $469, $(225) and $283, respectively, of net gains or (losses) on investments, and $(866), $4,256 and $907, respectively, of net periodic benefit plan income (expense). Other income (expense) also includes rental income of $212, $689 and $624 in 2023, 2022 and 2021, respectively. Additionally, it includes royalty income of 2,104 and $2,250 for the years ended September 30, 2023 and 2022, respectively.

RELATED PARTIES (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Sep. 05, 2023 USD ($) account $ / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($)
Related Party Transaction [Line Items]
Stock repurchased during period (in shares) \| shares		4,142,794
Common stock, par value (in dollars per share)		$ 0.25	$ 0.25
Shares acquired, average cost per share (in dollars per share)		$ 36.39
Stock repurchase program, aggregate purchase price \| $		$ 163,970	$ 10,886	$ 3,357
Related Party \| Voss Capital, LLC
Related Party Transaction [Line Items]
Stock repurchased during period (in shares) \| shares	400,000
Common stock, par value (in dollars per share)	$ 0.25
Stock repurchase program, number of managed accounts \| account	2
Shares acquired, average cost per share (in dollars per share)	$ 41.87
Stock repurchase program, aggregate purchase price \| $	$ 16,746

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Thousands	12 Months Ended
EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Thousands	Sep. 30, 2023 USD ($) plan	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jan. 01, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan, employer discretionary contribution amount	$ 10,857	$ 11,080	$ 8,576
Postemployment benefits liability	$ 1,679	$ 1,796
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent
Number of qualified defined benefit plan \| plan	2
Non-service cost components of net periodic cost (benefit)	$ 866	$ (4,256)	$ (907)
Change in discount rate	10.00%
Tax benefit for amortization of pension cost	$ 793	710	1,321
Adjusted funding target attainment percent, threshold				80.00%
Completion period of service	1 year
Maximum compensation of proportion	$ 305
Employee stock ownership plan (ESOP), compensation expense	20,583	14,325	3,678
Employee stock ownership plan (ESOP), deferred shares, fair value	7,768	30,247
Clopay AMES Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Adjusted funding target attainment percent				96.90%
Defined benefit plans, estimated future employer catch up contributions in next fiscal year	0
Hunter Fan Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Adjusted funding target attainment percent				122.10%
Defined benefit plans, estimated future employer catch up contributions in next fiscal year	0
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Accumulated other comprehensive loss, net of tax	420	399
Pension and other postretirement benefit expense	67	47	$ 35
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Accumulated other comprehensive loss, net of tax	22,340	30,559
Supplemental Employee Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total Accumulated other comprehensive loss, net of tax	3,046	$ 4,742
Defined benefit plans, estimated future employer contributions in next fiscal year	$ 1,853

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

LEASES - Narrative (Details) - USD ($)	Sep. 28, 2023	Sep. 30, 2022	Nov. 30, 2021
Ocala, Florida \| Finance lease - real estate
Lessee, Lease, Description [Line Items]
Payment to acquire leased property	$ 23,207,000
Long-term debt, percentage bearing fixed interest, percentage rate	5.60%
Troy, Ohio
Lessee, Lease, Description [Line Items]
Finance lease, buyout amount		$ 1	$ 1
Troy, Ohio \| Finance lease - real estate
Lessee, Lease, Description [Line Items]
Long-term debt, percentage bearing fixed interest, percentage rate		5.00%

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
CURRENT ASSETS
Cash and equivalents	$ 102,889	$ 120,184
Accounts receivable, net of allowances of $11,264 and $12,137	312,432	361,653
Inventories	507,130	669,193
Prepaid and other current assets	57,139	62,453
Assets of discontinued operations	1,001	1,189
Total Current Assets	980,591	1,214,672
PROPERTY, PLANT AND EQUIPMENT, net	279,218	294,561
OPERATING LEASE RIGHT-OF-USE ASSETS	169,942	183,398
GOODWILL	327,864	335,790
INTANGIBLE ASSETS, net	635,243	761,914
OTHER ASSETS	21,731	21,553
ASSETS OF DISCONTINUED OPERATIONS	4,290	4,586
Total Assets	2,418,879	2,816,474
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	9,625	12,653
Accounts payable	116,646	194,793
Accrued liabilities	193,098	171,797
Current portion of operating lease liabilities	32,632	31,680
Liabilities of discontinued operations	7,148	12,656
Total Current Liabilities	359,149	423,579
LONG-TERM DEBT, net	1,459,904	1,560,998
LONG-TERM OPERATING LEASE LIABILITIES	147,224	159,414
OTHER LIABILITIES	132,708	190,651
LIABILITIES OF DISCONTINUED OPERATIONS	4,650	4,262
Total Liabilities	2,103,635	2,338,904
COMMITMENTS AND CONTINGENCIES - See Note 16
SHAREHOLDERS’ EQUITY
Preferred stock, par value $0.25 per share, authorized 3,000 shares, no shares issued	0	0
Common stock, par value $0.25 per share, authorized 85,000 shares, issued shares of 84,746 in both 2023 and 2022.	21,187	21,187
Capital in excess of par value	662,680	627,982
Retained earnings	281,516	344,060
Treasury shares, at cost, 31,684 common shares and 27,682 common shares, respectively.	(577,686)	(420,116)
Accumulated other comprehensive loss	(70,010)	(82,738)
Deferred compensation	(2,443)	(12,805)
Total Shareholders’ Equity	315,244	477,570
Total Liabilities and Shareholders’ Equity	$ 2,418,879	$ 2,816,474

RELATED PARTIES	12 Months Ended
RELATED PARTIES	Sep. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIESOn September 5, 2023 Griffon entered into a stock purchase agreement to repurchase 400,000 shares of its common stock, par value $0.25 per share, beneficially owned by two separately managed accounts of which Voss Capital, LLC is the investment manager (the “Selling Shareholders”), in a private transaction to facilitate redemptions by investors in the Selling Shareholders. The purchase price per share was approximately $41.87, for an aggregate purchase price of $16,746. The Selling Shareholders are affiliates of Voss Capital, LLC. Travis W. Cocke, the Founder, Chief Investment Officer and Managing Member of Voss Capital, LLC, is a member of the Board of Directors of the Company.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

DISCONTINUED OPERATIONS - Income statement information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Other income (expense)
Income from discontinued operations before tax	$ 0	$ 116,345	$ 10,121
Provision for income taxes	$ 0	20,188	1,212
Defense Electronics \| Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		161,061	271,060
Cost of goods and services		125,208	232,075
Gross profit		35,853	38,985
Selling, general and administrative expenses		26,423	35,532
Income from discontinued operations		9,430	3,453
Other income (expense)
Gain on sale of business		107,517	5,291
Interest income, net		2	117
Other, net		(604)	1,260
Total other income (expense)		106,915	6,668
Income from discontinued operations before tax		116,345	10,121
Provision for income taxes		20,188	1,212
Income from discontinued operations		$ 96,157	$ 8,909

ACQUISITIONS (Tables)

12 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Pro Forma Information

The following unaudited proforma summary from continuing operations presents consolidated information as if the Company acquired Hunter on October 1, 2020:


	Proforma For the Year Ended September 30, (unaudited)
	2022		2021

Revenue	$	2,938,998	$	2,624,378
Income (loss) from continuing operations	(288,062)		77,804

Schedule of Assets Acquired and Liabilities Assumed

The calculation of the final purchase price allocation is as follows:



Accounts receivable (1)	$	64,602
Inventories(2)	110,299
Other current assets	7,940
Property, plant and equipment	15,007
Operating lease right-of-use assets	12,447
Goodwill	250,711
Intangible assets	616,000

Total assets acquired	$	1,077,006

Accounts payable and accrued liabilities	$	70,039
Current portion of operating lease liabilities	3,323
Deferred tax liability(3)	139,219
Long-term operating lease liabilities	9,123
Other long-term liabilities	3,848
Total liabilities assumed	$	225,552
Total net assets acquired	$	851,454

____________________________

(1) Includes $67,201 of gross accounts receivable of which $2,599 was not expected to be collected. The fair value of accounts receivable approximated book value acquired.

(2) Includes $113,287 of gross inventory of which $2,988 was reserved for obsolete items.

(3) Deferred tax liability recorded on primarily intangibles assets.

Schedule of Intangible Assets and Goodwill

The amounts assigned to goodwill and major intangible asset classifications for the Hunter acquisition are as follows:


	Average Life (Years)
Goodwill		$	250,711	N/A
Indefinite-lived intangibles (Hunter and Casablanca brands)	356,000	N/A
Definite-lived intangibles (Customer relationships)	260,000	20
Total goodwill and intangible assets		$	866,711

INCOME TAXES

12 Months Ended

Sep. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

Income taxes have been based on the following components of Income before taxes from continuing operations:


	For the Years Ended September 30,
	2023		2022		2021
Domestic	$	106,209	$	(247,004)	$	55,835
Non-U.S.	6,473		(23,875)		54,120
	$	112,682	$	(270,879)	$	109,955

Provision (benefit) for income taxes on income was comprised of the following from continuing operations:


	For the Years Ended September 30,
	2023		2022		2021
Current	$	72,860	$	73,542	$	25,890
Deferred	(37,795)		(56,706)		13,763
Total	$	35,065	$	16,836	$	39,653
U.S. Federal	$	23,612	$	(5,178)	$	14,305
State and local	5,899		14,361		7,117
Non-U.S.	5,554		7,653		18,231
Total provision	$	35,065	$	16,836	$	39,653


	For the Years Ended September 30,
	2023		2022		2021
U.S. Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State and local taxes, net of Federal benefit	(0.2)	%	(5.3)	%	4.8	%
Non-U.S. taxes - foreign permanent items and taxes	1.4	%	(1.5)	%	3.1	%


Change in tax contingency reserves	(0.4)	%	(0.1)	%	0.2	%
Impact of foreign rate change on deferred tax balances	—	%	—	%	2.8	%
Tax Reform-Repatriation of Foreign Earnings and GILTI	0.5	%	0.2	%	0.4	%
Change in valuation allowance	3.9	%	(1.7)	%	0.4	%
Other non-deductible/non-taxable items, net	—	%	(0.4)	%	0.4	%
Non-deductible officer's compensation	5.1	%	(1.9)	%	4.0	%
Research and U.S. foreign tax credits	(0.9)	%	0.2	%	(0.1)	%
Goodwill impairment	—	%	(17.1)	%	—	%

Share based compensation	0.8	%	0.4	%	(2.0)	%
Other	(0.1)	%	—	%	1.1	%
Effective tax rate	31.1	%	(6.2)	%	36.1	%

The tax effect of temporary differences that give rise to future deferred tax assets and liabilities are as follows:


	At September 30,
	2023		2022
Deferred tax assets:
Bad debt reserves	$	2,537	$	2,873
Inventory reserves	11,764		5,005
Deferred compensation (equity compensation and defined benefit plans)	5,929		8,658
Compensation benefits	5,118		4,859
Insurance reserve	2,823		2,660
Restructuring reserve	4,224		—
Warranty reserve	6,912		3,402
Lease liabilities	47,077		49,649
Net operating loss	15,459		20,528
Tax credits	5,933		5,933
Research & Development	5,281		—


Other reserves and accruals	5,312		5,553
	118,369		109,120
Valuation allowance	(17,992)		(13,490)
Total deferred tax assets	100,377		95,630
Deferred tax liabilities:

Goodwill and intangibles	(48,859)		(25,484)
Property, plant and equipment	(99,637)		(158,074)
Right-of-use assets	(44,499)		(47,949)

Unremitted Foreign Earnings	(1,894)		—

Other	(1,179)		(1,224)
Total deferred tax liabilities	(196,068)		(232,731)
Net deferred tax liabilities	$	(95,691)	$	(137,101)

The components of the net deferred tax liability, by balance sheet account, were as follows:


	At September 30,
	2023		2022

Other assets	$	617	$	339


Other liabilities	(97,440)		(139,417)

Liabilities of discontinued operations	1,132		1,977
Net deferred liability	$	(95,691)	$	(137,101)

In 2023, the net increase in the valuation allowance of $4,502 is the result of a determination that certain state and foreign net operating losses will not be realized. In 2022, the increase in the valuation allowance of $3,065 is the result of a determination that certain state and foreign net operating losses will not be realized, partially offset by tax rate changes impacting the value of the deferred tax assets and the reversal of a valuation allowance related to certain state credits for the Telephonics business, which was sold on June 27, 2022.

Prior to fiscal year 2023, Griffon did not provide deferred U.S. income taxes of undistributed earnings on non-U.S. subsidiaries as such earnings were intended to be reinvested indefinitely. At September 30, 2023 , Griffon has a policy election to indefinitely reinvest the undistributed earnings of certain non-U.S. subsidiaries. As of September 30, 2023, we have approximately $117,886 of undistributed earnings of non-U.S. subsidiaries. Of these undistributed earnings, $65,018 were previously subjected to U.S. federal income tax. As of September 30, 2023, we recognized a deferred tax liability of $1,894 for estimated non-U.S. withholding taxes on the non-U.S. earnings that are not indefinitely reinvested. The Company has not

provided deferred taxes on any other outside basis differences in its investments in the non-U.S. subsidiaries as these other outside basis differences are currently considered indefinitely reinvested. The Company generates substantial cash flow in the U.S. and does not have a current need for the cash to be returned to the U.S. from the foreign entities. The Company may repatriate non-indefinitely reinvested earnings of its non-U.S. subsidiaries where excess cash has accumulated and the Company determines that it is appropriate and tax efficient. Accordingly, the Company continues to reinvest all other undistributed earnings of its non-U.S. subsidiaries and may be subject to additional non-U.S. withholding taxes and U.S. state income taxes if it reverses its indefinite reinvestment assertion in the future.

At September 30, 2023, Griffon had no loss carryforwards for U.S. tax purposes and $27,585 for non-U.S. tax purposes. At September 30, 2022, Griffon had $44,521 loss carryforwards for U.S. tax purposes and $8,798 for non-U.S. tax purposes. The U.S loss carryforwards can be carried forward indefinitely but are subject to certain limitations on annual usage. The non-U.S. loss carryforwards expire in varying amounts beginning in 2027 to indefinite carryforward.

At September 30, 2023 and 2022, Griffon had state and local loss carryforwards of $176,343 and $192,134, respectively, which expire in varying amounts through 2042.

At September 30, 2023 and 2022, Griffon had federal tax credit carryforwards of $5,933 and $5,933, respectively, which expire in varying amounts through 2035.

At September 30, 2023 and 2022, Griffon had no capital loss carryovers for U.S. tax purposes. Capital loss carryovers are available for three-year carryback or five-year carryforward periods.

We believe it is more likely than not that the benefit from certain federal, state, and non-U.S. tax attributes will not be realized. In recognition of this risk, we have provided a valuation allowance as of September 30, 2023 and 2022 of $17,992 and $13,490, respectively, on the deferred tax assets. As it becomes probable that the benefits of these attributes will be realized, the reversal of valuation allowance will be recognized as a reduction of income tax expense.

If certain substantial changes in Griffon's ownership occur, there would be an annual limitation on the amount of carryforward(s) that can be utilized.

Griffon files U.S. Federal, state and local tax returns, as well as applicable returns in Canada, Australia, U.K. and other non-U.S. jurisdictions. Griffon’s U.S. Federal income tax returns are no longer subject to income tax examination for years before 2017. Griffon's major U.S. state and other non-U.S. jurisdictions are no longer subject to income tax examinations for years before 2015. Various U.S. state and statutory tax audits are currently underway.

The following is a roll forward of unrecognized tax benefits:


Balance at September 30, 2021	$	4,377
Additions based on tax positions related to the current year	172
Additions based on tax positions related to prior years(1)	2,298

Lapse of Statutes	(39)

Balance at September 30, 2022	$	6,808
Additions based on tax positions related to the current year	208
Additions based on tax positions related to prior years	32
Reductions based on tax positions related to prior years	(16)
Lapse of Statutes	(740)
Settlements	—
Balance at September 30, 2023	$	6,292
(1) Relates to unrecognized tax benefits assumed with the acquisition of Hunter.

If recognized, the amount of potential unrecognized tax benefits that would impact Griffon’s effective tax rate is $3,021. Griffon recognizes potential accrued interest and penalties related to unrecognized tax benefits in income tax expense. At September 30, 2023 and 2022, the combined amount of accrued interest and penalties related to tax positions taken or to be taken on Griffon’s tax returns and recorded as part of the reserves for uncertain tax positions was $651 and $521, respectively. The Company may experience a decrease of $1,679 in unrecognized tax benefits over the next twelve months due to the potential resolution of unrecognized tax benefits involving several taxing jurisdictions accepting previously filed amended returns or lapse of the applicable statute. Griffon cannot reasonably estimate the extent to which other existing liabilities for uncertain tax positions may increase or decrease within the next twelve months as a result of the progression of ongoing tax audits or other events. Griffon believes that it has adequately provided for all open tax years by tax jurisdiction.

On August 16, 2022, the U.S. Government enacted the Inflation Reduction Act ("IRA") into law. Included in the IRA was a provision to implement a 15% corporate alternative minimum tax ("CAMT") on “adjusted financial statement income” for applicable corporations and a 1% excise tax on repurchases of stock. The stock buyback excise tax went into effect January 1, 2023 and Griffon records the excise tax on its stock repurchases, net of reissuances, against treasury stock. The CAMT is effective for tax years beginning after December 31, 2022. Based on current levels of income we do not expect to be subject to the CAMT.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

LONG-TERM DEBT - Summary of interest expense incurred (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Cash Interest	$ 97,213	$ 80,604	$ 60,535
Amort. Debt Premium	124	87	(48)
Amort. Deferred Cost & Other Fees	4,108	3,688	2,688
Capitalized interest	(142)	(309)	(31)
Total Interest Expense	$ 101,445	$ 84,379	$ 63,175
Senior Notes due 2028
Debt Instrument [Line Items]
Effective Interest Rate	5.95%	5.95%	5.95%
Cash Interest	$ 56,050	$ 57,105	$ 57,500
Amort. Debt Premium	(48)	(48)	(48)
Amort. Deferred Cost & Other Fees	2,020	2,056	2,084
Total Interest Expense	$ 58,022	$ 59,113	59,536
Term Loan B due 2029
Debt Instrument [Line Items]
Effective Interest Rate	7.49%	4.14%
Cash Interest	$ 35,321	$ 18,116
Amort. Debt Premium	172	135
Amort. Deferred Cost & Other Fees	1,398	1,068
Total Interest Expense	36,891	19,319
Revolver due 2025
Debt Instrument [Line Items]
Cash Interest	4,282	3,762	1,078
Amort. Debt Premium	0	0	0
Amort. Deferred Cost & Other Fees	646	491	491
Total Interest Expense	$ 4,928	$ 4,253	$ 1,569
Finance lease - real estate
Debt Instrument [Line Items]
Effective Interest Rate	5.60%	5.60%	5.65%
Cash Interest	$ 680	$ 759	$ 875
Amort. Debt Premium	0	0	0
Amort. Deferred Cost & Other Fees	0	4	25
Total Interest Expense	680	763	900
Non U.S. lines of credit
Debt Instrument [Line Items]
Cash Interest	630	17	15
Amort. Debt Premium	0	0	0
Amort. Deferred Cost & Other Fees	42	15	15
Total Interest Expense	672	32	30
Non U.S. term and mortgage loans
Debt Instrument [Line Items]
Cash Interest		610	655
Amort. Debt Premium		0	0
Amort. Deferred Cost & Other Fees		53	71
Total Interest Expense		663	726
Other debt
Debt Instrument [Line Items]
Cash Interest	392	544	443
Amort. Debt Premium	0	0	0
Amort. Deferred Cost & Other Fees	2	1	2
Total Interest Expense	$ 394	$ 545	$ 445

WARRANTY LIABILITY (Tables)

12 Months Ended

Sep. 30, 2023

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability

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


	Years Ended September 30,
	2023		2022
Balance, beginning of period	$	16,786	$	7,818
Warranties issued and changes in estimated pre-existing warranties	21,301		19,028
Actual warranty costs incurred	(17,306)		(16,413)
Other warranty liabilities assumed from acquisitions	—		6,353
Balance, end of period	$	20,781	$	16,786

REPORTABLE SEGMENTS

12 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

REPORTABLE SEGMENTS

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

•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 Cornell and Cookson brands.

•Consumer and Professional Products (“CPP”) is a leading 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.

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


	For the Years Ended September 30,
REVENUE	2023		2022		2021

Home and Building Products	$	1,588,505	$	1,506,882	$	1,041,108
Consumer and Professional Products	1,096,678		1,341,606		1,229,518




Total revenue	$	2,685,183	$	2,848,488	$	2,270,626

Griffon evaluates performance and allocates resources based on segment adjusted EBITDA and adjusted EBITDA, non GAAP measures, defined as income before taxes from continuing operations, excluding interest income and expense, depreciation and amortization, strategic review charges, non-cash impairment charges, restructuring charges, gain/loss from debt extinguishment, and acquisition related expenses, as well other items that may affect comparability, as applicable, non GAAP measures. Segment adjusted EBITDA also excludes unallocated amounts, mainly corporate overhead. Griffon believes this information is useful to investors for the same reason.

The following table provides a reconciliation of segment adjusted EBITDA to income (loss) before taxes from continuing operations:


	For the Years Ended September 30,
	2023		2022		2021
Segment Adjusted EBITDA:
Home and Building Products	$	510,876	$	412,738	$	181,015
Consumer and Professional Products	50,343		99,308		115,673





Segment Adjusted EBITDA	561,219		512,046		296,688
Unallocated amounts, excluding depreciation	(55,887)		(53,888)		(50,278)
Adjusted EBITDA	505,332		458,158		246,410
Net interest expense	(99,351)		(84,164)		(62,735)
Depreciation and amortization	(65,445)		(64,658)		(52,302)
Goodwill and intangible impairments	(109,200)		(517,027)		—
Restructuring charges	(92,468)		(16,782)		(21,418)
Debt extinguishment, net	(437)		(4,529)		—

Acquisition costs	—		(9,303)		—
Strategic review - retention and other	(20,225)		(9,683)		—
Special dividend ESOP charges	(15,494)		(10,538)		—
Gain on sale of buildings	12,655		—		—
Proxy expenses	(2,685)		(6,952)		—
Fair value step-up of acquired inventory sold	—		(5,401)		—
Income (loss) before taxes from continuing operations	$	112,682	$	(270,879)	$	109,955


	For the Years Ended September 30,
DEPRECIATION and AMORTIZATION	2023		2022		2021
Segment:
Home and Building Products	$	15,066	$	16,539	$	17,370
Consumer and Professional Products	49,811		47,562		34,433




Total segment depreciation and amortization	64,877		64,101		51,803
Corporate	568		557		499
Total consolidated depreciation and amortization	$	65,445	$	64,658	$	52,302

CAPITAL EXPENDITURES
Segment:
Home and Building Products(1)	$	24,065	$	11,029	$	8,648
Consumer and Professional Products(2)	39,476		31,279		28,265





Total segment	63,541		42,308		36,913
Corporate(3)	63		180		38
Total consolidated capital expenditures	$	63,604	$	42,488	$	36,951

________________________

(1) During the year ended September 30, 2023, HBP's capital expenditures included approximately $6,000 in connection with the purchase of HBP's Mason headquarters.

(3) During the year ended September 30, 2023, Corporate's capital expenditures exclude proceeds from the sale of real estate of approximately $11,800.


ASSETS	At September 30, 2023		At September 30, 2022
Segment assets:
Home and Building Products	$	703,661	$	737,860
Consumer and Professional Products	1,579,588		1,914,529



Total segment assets	2,283,249		2,652,389
Corporate	130,339		158,310
Total continuing assets	2,413,588		2,810,699

Other discontinued operations	5,291		5,775
Consolidated total	$	2,418,879	$	2,816,474

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.


	For the Years Ended September 30,
	2023		2022		2021
Residential repair and remodel	757,088		736,525		516,995
Commercial	700,112		630,066		407,585
Residential new construction	131,305		140,291		116,528
Total Home and Building Products	1,588,505		1,506,882		1,041,108
Residential repair and remodel	$	377,775	$	392,490	$	185,896
Retail	267,046		456,735		577,839

Residential new construction	51,093		45,243		50,437
Industrial	78,308		76,430		43,411
International excluding North America	322,456		370,708		371,935
Total Consumer and Professional Products	1,096,678		1,341,606		1,229,518




Total Revenue	$	2,685,183	$	2,848,488	$	2,270,626

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


	For the Year Ended September 30, 2023
Revenue by Geographic Area - Destination	Home and Building Products		Consumer and Professional Products		Total
United States	$	1,515,479	$	716,098	$	2,231,577
Europe	18		51,041		51,059
Canada	62,897		75,477		138,374
Australia	—		231,764		231,764
All other countries	10,111		22,298		32,409
Total Revenue	$	1,588,505	$	1,096,678	$	2,685,183


	For the Year Ended September 30, 2022
Revenue by Geographic Area - Destination	Home and Building Products		Consumer and Professional Products		Total
United States	$	1,437,085	$	858,956	$	2,296,041
Europe	60		106,471		106,531
Canada	57,916		92,930		150,846
Australia	—		258,945		258,945
All other countries	11,821		24,304		36,125
Total Revenue	$	1,506,882	$	1,341,606	$	2,848,488


	For the Year Ended September 30, 2021
Revenue by Geographic Area - Destination	Home and Building Products		Consumer and Professional Products		Total
United States	$	986,925	$	766,150	$	1,753,075
Europe	72		123,607		123,679
Canada	44,661		85,676		130,337
Australia	—		244,674		244,674
All other countries	9,450		9,411		18,861
Total Revenue	$	1,041,108	$	1,229,518	$	2,270,626

As a percentage of segment revenue, HBP sales to The Home Depot approximated 9%, 7% and 10% in 2023, 2022 and 2021, respectively; CPP sales to The Home Depot approximated 15%, 19% and 26% in 2023, 2022 and 2021, respectively.

As a percentage of Griffon's consolidated revenue, sales to The Home Depot approximated 12%, 13% and 19% in 2023, 2022 and 2021, respectively.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

ACCRUED LIABILITIES - Schedule of accrued liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Payables and Accruals [Abstract]
Compensation	$ 77,558	$ 77,823
Interest	4,317	6,798
Warranties and rebates	24,294	18,965
Insurance	10,619	10,533
Rent, utilities and freight	6,720	7,571
Income and other taxes	22,954	22,570
Marketing and advertising	7,008	6,682
Restructuring	19,658	650
Other	19,970	20,205
Total	$ 193,098	$ 171,797

DISCONTINUED OPERATIONS

12 Months Ended

Sep. 30, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On September 27, 2021, Griffon announced it was exploring strategic alternatives for its DE segment, which consisted of its Telephonics subsidiary. On June 27, 2022, Griffon completed the sale of Telephonics for $330,000 in cash, excluding customary post-closing adjustments, primarily related to working capital. In connection with the sale of Telephonics, the Company recorded a gain of $107,517 ($89,241, net of tax) for the year ended September 30, 2022.

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 discontinued operations:


	For the Year Ended September 30,
	2022		2021
Revenue	$	161,061	$	271,060
Cost of goods and services	125,208		232,075
Gross profit	35,853		38,985
Selling, general and administrative expenses	26,423		35,532


Income from discontinued operations	9,430		3,453
Other income (expense)
Gain on sale of business	107,517		5,291
Interest income, net	2		117
Other, net	(604)		1,260
Total other income (expense)	106,915		6,668
Income from discontinued operations before tax	116,345		10,121
Provision for income taxes	20,188		1,212
Income from discontinued operations	$	96,157	$	8,909

Depreciation and amortization was excluded from the current year results since DE was classified as a discontinued operation and, accordingly, the Company ceased depreciation and amortization in accordance with discontinued operations accounting guidelines. Depreciation and amortization for fiscal 2022 would have been approximately $7,442 through the date of disposition on June 27, 2022.


	At September 30, 2023		At September 30, 2022
Assets of discontinued operations:
Prepaid and other current assets	$	1,001	$	1,189
Other long-term assets	4,290		4,586
Total assets of discontinued operations	$	5,291	$	5,775

Liabilities of discontinued operations:
Accrued liabilities, current	$	7,148	$	12,656
Other long-term liabilities	4,650		4,262
Total liabilities of discontinued operations	$	11,798	$	16,918

Accrued liabilities as of September 30, 2023 and 2022 includes the Company's obligation of $4,596 and $8,846 in connection with the sale of Telephonics primarily related to certain customary post-closing adjustments, primarily working capital and stay bonuses.

At September 30, 2023 and 2022, Griffon’s liabilities for Installations Services and other discontinued operations primarily related to insurance claims, income taxes, product liability, warranty and environmental reserves totaling $7,202 and $8,072, respectively. The increase in assets and liabilities for Installations Services and other discontinued operations was primarily associated with insurance claims receivable and payable.

Except for revenue from the Telephonics business, as noted above, there was no reported revenue in 2023, 2022 and 2021 for Installations Services and other discontinued operations.

OTHER COMPREHENSIVE INCOME (LOSS) - Total comprehensive income (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net income (loss)	$ 77,617	$ (191,558)	$ 79,211
Other comprehensive income (loss), net of taxes	12,728	(36,761)	26,115
Comprehensive income (loss)	$ 90,345	$ (228,319)	$ 105,326

- Definition

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

+ References

+ Details

EMPLOYEE BENEFIT PLANS

12 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Griffon offers defined contribution plans to most of its U.S. employees. In addition to employee contributions to the plans, Griffon makes contributions based upon various percentages of compensation and/or employee contributions, which were $10,857 in 2023, $11,080 in 2022 and $8,576 in 2021.

The Company also provides healthcare and life insurance benefits for certain groups of retirees through several plans. For certain employees, the benefits are at fixed amounts per retiree and are partially contributory by the retiree. The post-retirement benefit obligation was $1,679 and $1,796 as of September 30, 2023 and 2022. The accumulated other comprehensive income (loss) for these plans was $420 and $399 as of September 30, 2023 and 2022, respectively, and the 2023, 2022 and 2021 benefit expense was $67, $47 and $35 respectively. It is the Company’s practice to fund these benefits as incurred.

Griffon also has qualified and non-qualified defined benefit plans covering certain employees which provide benefits based on years of service and employee compensation. Over time, these amounts will be recognized as part of net periodic pension costs in the Consolidated Statements of Operations and Comprehensive Income (Loss).

Griffon is responsible for overseeing the management of the investments of two qualified defined benefit plans and uses the services of an investment manager to manage the plans' assets based on agreed upon risk profiles. The primary objective of the qualified defined benefit plan is to secure participant retirement benefits. As such, the key objective in this plan’s financial management is to promote stability and, to the extent appropriate, growth in the funded status. Financial objectives are established in conjunction with a review of current and projected plan financial requirements. The fair values of a majority of the plan assets were determined by the plans’ trustee using quoted market prices for identical instruments (level 1 inputs) as of September 30, 2023 and 2022. The fair value of various other investments was determined by the plans' trustees using direct observable market corroborated inputs, including quoted market prices for similar assets (level 2 inputs). A small amount of plan assets are invested in private equity which consist primarily of investments in private companies which are valued using the net asset values provided by the underlying private investment companies as a practical expedient (level 3 inputs).

The Clopay AMES Pension Plan, the Hunter Fan Pension Plan and the AMES supplemental executive retirement plan are frozen to new entrants and participants in the plans no longer accrue benefits.

The Company’s non-service cost components of net periodic benefit plan cost was an expense (benefit) of $866, $(4,256) and $(907) during 2023, 2022, and 2021 respectively.

Griffon uses judgment to establish the assumptions used in determining the future liability of the plan, as well as the investment returns on the plan assets. The expected return on assets assumption used for pension expense was developed through analysis of historical market returns, current market conditions and past experience of plan investments. The long-term rate of return assumption represents the expected average rate of earnings on the funds invested, or to be invested, to provide for the benefits included in the benefit obligations. The assumption is based on several factors including historical market index returns, the anticipated long-term asset allocation of plan assets and the historical return. The discount rate assumption is determined by developing a yield curve based on high quality bonds with maturities matching the plans’ expected benefit payment stream. The plans’ expected cash flows are then discounted by the resulting year-by-year spot rates. A 10% change in the discount rate or return on assets would not have a material effect on the financial statements of Griffon.

Net periodic costs (benefits) were as follows:


	Defined Benefits for the Years Ended September 30,						Supplemental Benefits for the Years Ended September 30,
	2023		2022		2021		2023		2022		2021
Net periodic (benefits) costs:

Interest cost	$	6,814	$	3,448	$	2,816	$	488	$	172	$	162
Expected return on plan assets	(10,213)		(11,255)		(10,177)		—		—		—

Amortization of:
Prior service costs	—		—		—		—		—		—
Actuarial loss	3,314		2,818		5,776		463		561		516
Total net periodic (benefits) costs	$	(85)	$	(4,989)	$	(1,585)	$	951	$	733	$	678

The tax benefits in 2023, 2022 and 2021 for the amortization of pension costs in Other comprehensive income (loss) were $793, $710 and $1,321, respectively.

The weighted-average assumptions used in determining the net periodic (benefits) costs were as follows:


	Defined Benefits for the Years Ended September 30,						Supplemental Benefits for the Years Ended September 30,
	2023		2022		2021		2023		2022		2021
Discount rate	5.17	%	2.63	%	2.30	%	5.02	%	1.94	%	1.69	%

Expected return on assets	6.72	%	6.72	%	6.75	%	—	%	—	%	—	%

Plan assets and benefit obligation of the defined and supplemental benefit plans were as follows:


	Defined Benefits at September 30,				Supplemental Benefits at September 30,
	2023		2022		2023		2022
Change in benefit obligation:
Benefit obligation at beginning of fiscal year	$	149,021	$	170,505	$	11,922	$	14,775

Business acquisition	—		21,839		—		—
Interest cost	6,814		3,448		488		172

Benefits paid	(11,541)		(11,281)		(1,907)		(1,927)



Actuarial (gain) loss	(5,070)		(35,490)		379		(1,098)

Benefit obligation at end of fiscal year	139,224		149,021		10,882		11,922
Change in plan assets:
Fair value of plan assets at beginning of fiscal year	144,091		160,523		—		—
Business acquisition	—		22,288		—		—
Actual return on plan assets	12,232		(27,439)		—		—

Company contributions	2,215		—		1,907		1,927

Benefits paid	(11,541)		(11,281)		(1,907)		(1,927)


Fair value of plan assets at end of fiscal year	146,997		144,091		—		—
Projected benefit obligation in excess of plan assets	$	7,773	$	(4,930)	$	(10,882)	$	(11,922)
Amounts recognized in the statement of financial position consist of:
Non-Current Assets	$	7,773	$	1,108	$	—	$	—
Accrued liabilities	—		—		(1,834)		$	(1,866)
Other liabilities (long-term)	—		(6,038)		(9,048)		(10,056)
Total Liabilities	7,773		(4,930)		(10,882)		(11,922)
Net actuarial losses	28,279		38,682		5,919		6,003
Prior service cost	—		—		—		—
Deferred taxes	(5,939)		(8,123)		(2,873)		(1,261)
Total Accumulated other comprehensive loss, net of tax	22,340		30,559		3,046		4,742
Net amount recognized at September 30,	$	30,113	$	25,629	$	(7,836)	$	(7,180)
Accumulated benefit obligations	$	139,224	$	149,021	$	10,882	$	11,922
Information for plans with accumulated benefit obligations in excess of plan assets:
ABO	$	139,224	$	149,021	$	10,882	$	11,922
PBO	139,224		149,021		10,882		11,922
Fair value of plan assets	146,997		144,091		—		—

Actuarial gains as of September 30, 2023 and 2022 were primarily the result of the increase in the discount rate.

The weighted-average assumptions used in determining the benefit obligations were as follows:


	Defined Benefits at September 30,				Supplemental Benefits at September 30,
	2023		2022		2023		2022
Weighted average discount rate	5.63	%	5.17	%	5.53	%	5.02	%

Estimated future benefit payments to retirees, which reflect expected future service, are as follows:


For the years ending September 30,	Defined Benefits		Supplemental Benefits
2024	$	12,009	$	1,853
2025	11,993		1,709
2026	12,021		1,562
2027	12,012		1,413
2028	11,918		1,263
2028 through 2031	56,659		4,231

During 2024, Griffon is not required to and does not expect to contribute to the Defined Benefit plans and expects to contribute $1,853 to Supplemental Benefits that will be funded from the general assets of Griffon.

The Clopay AMES Pension Plan and the Hunter Fan Pension Plan are covered by the Pension Protection Act of 2006. The Adjusted Funding Target Attainment Percent for the Clopay AMES Pension Plan and Hunter Fan Pension Plan as of January 1, 2023 was 96.9% and 122.1%, respectively. Since the plans were in excess of the 80% funding threshold there were no plan restrictions. There are no catch up contributions for either plan expected in 2024.

The actual and weighted-average asset allocation for qualified benefit plans were as follows:


	At September 30,
	2023		2022		Target
Cash and equivalents	3.3	%	4.3	%	—	%
Equity securities	41.9	%	41.1	%	44.0	%
Fixed income	24.8	%	24.6	%	36.0	%
Other	30.0	%	30.0	%	20.0	%
Total	100.0	%	100.0	%	100.0	%

The following is a description of the valuation methodologies used for plan assets measured at fair value:

Government and agency securities – When quoted market prices are available in an active market, the investments are classified as Level 1. When quoted market prices are not available in an active market, the investments are classified as Level 2.

Equity securities – The fair values reflect the closing price reported on a major market where the individual mutual fund securities are traded in equity securities. These investments are classified within Level 1 of the valuation hierarchy.

Debt securities – The fair values are based on a compilation of primarily observable market information or a broker quote in a non-active market where the individual mutual fund securities are invested in debt securities. These investments are classified within Level 1 and Level 2 of the valuation hierarchy.

Commingled funds – The fair values are determined using NAV provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the trust/entity, minus its liabilities, and then divided by the number of shares outstanding. These investments are generally classified within Level 2 or 3, as appropriate, of the valuation hierarchy and can be liquidated on demand.

Interest in limited partnerships and hedge funds - One limited partnership investment is a private equity fund and the fair value is determined by the fund managers based on the net asset values provided by the underlying private investment companies as a practical expedient. These investments are classified within Level 2 of the valuation hierarchy.

Fully benefit-responsive investment contracts - The Plan holds fully benefit-responsive investment contracts that are reported at contract value, which is the value of principal and interest under the terms of the annuity contract.

The following table presents the fair values of Griffon’s pension and post-retirement plan assets by asset category:


At September 30, 2023	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	4,889	$	—	$	—	$	4,889

Government agency securities	26,824		2,537		—		29,361
Debt instruments	1,253		3,945		—		5,198
Equity securities	61,482		—		—		61,482
Commingled funds	—		9,022		10,459		19,481
Limited partnerships and hedge fund investments	—		21,768		—		21,768
Other Securities	1,834		—		—		1,834
Subtotal	$	96,282	$	37,272	$	10,459	$	144,013
Accrued income and plan receivables							285
Fully benefit-responsive investment contract							2,699
Total							$	146,997


At September 30, 2022	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash and equivalents	$	6,178	$	—	$	—	$	6,178
Government and agency securities	25,932		2,703		—		28,635

Debt instruments	1,326		3,604		—		4,930
Equity securities	59,190		—		—		59,190
Commingled funds	—		8,088		9,484		17,572

Limited partnerships and hedge fund investments	—		22,662		—		22,662
Other Securities	1,845		—		—		1,845
Subtotal	$	94,471	$	37,057	$	9,484	$	141,012
Accrued income and plan receivables							265
Fully benefit-responsive investment contract							2,814
Total							$	144,091

The following table represents level 3 significant unobservable inputs for the years ended September 30, 2023 and 2022:


	Significant Unobservable Inputs (Level 3)

As of October 1, 2021	$	11,286

Purchases, issuances and settlements	150
Gains and losses	(1,952)
As of September 30, 2022	9,484
Purchases, issuances and settlements	—
Gains and losses	975
As of September 30, 2023	$	10,459

Griffon has an Employee Stock Ownership Plan ("ESOP") that covers substantially all domestic employees. All U.S. employees of Griffon, who are not members of a collective bargaining unit, automatically become eligible to participate in the plan on the October 1st following completion of one qualifying year of service (as defined in the plan). Securities are allocated to participants’ individual accounts based on the proportion of each participant’s aggregate compensation (not to exceed $305 for the plan year ended September 30, 2023), to the total of all participants’ compensation. Shares of the ESOP which have been allocated to employee accounts are charged to expense based on the fair value of the shares transferred and are treated as outstanding in determining earnings per share. Dividends paid on shares held by the ESOP are used to offset debt service on ESOP Loans. Dividends paid on shares held in participant accounts are utilized to allocate shares from the aggregate number of shares to be released, equal in value to those dividends, based on the closing price of Griffon common stock on the dividend payment date. Compensation expense under the ESOP was $20,583 in 2023, $14,325 in 2022 and $3,678 in 2021. The cost of the shares held by the ESOP and not yet allocated to employees is reported as a reduction of Shareholders’ Equity. The fair value of the unallocated ESOP shares as of September 30, 2023 and 2022 based on the closing stock price of Griffon’s stock was $7,768 and $30,247, respectively. The ESOP shares were as follows:


	At September 30,
	2023	2022
Allocated shares	4,409,113	3,938,384
Unallocated shares	195,827	1,024,642
Total	4,604,940	4,963,026

PROPERTY, PLANT AND EQUIPMENT - Summary of property plant and equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 651,635	$ 706,961
Accumulated depreciation and amortization	(372,417)	(412,400)
Total	279,218	294,561
Land, building and building improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	169,923	159,693
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	447,972	511,779
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,740	$ 35,489

LONG-TERM DEBT (Tables)

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Debt at September 30, 2023 and 2022 consisted of the following:


		At September 30, 2023
		Outstanding Balance		Original Issuer Premium (Discount)		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate
Senior Notes due 2028	(a)	$	974,775	$	218	$	(8,920)	$	966,073	5.75	%
Term Loan B due 2029	(b)	463,000		(922)		(7,039)		455,039		Variable
Revolver due 2028	(b)	50,445		—		(3,606)		46,839		Variable

Non U.S. lines of credit	(d)	—		—		(3)		(3)		Variable

Other debt	(e)	1,592		—		(11)		1,581		Variable
Totals		1,489,812		(704)		(19,579)		1,469,529
less: Current portion		(9,625)		—		—		(9,625)
Long-term debt		$	1,480,187	$	(704)	$	(19,579)	$	1,459,904


		At September 30, 2022
		Outstanding Balance		Original Issuer Premium (Discount)		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate
Senior notes due 2028	(a)	$	974,775	$	266	$	(10,939)	$	964,102	5.75	%
Term Loan B due 2029	(b)	496,000		(1,144)		(8,823)		486,033		Variable
Revolver due 2025	(b)	97,328		—		(1,227)		96,101		Variable



Finance lease - real estate	(c)	13,091		—		—		13,091		Variable
Non U.S. lines of credit	(d)	—		—		(2)		(2)		Variable
Non U.S. term and mortgage loans	(d)	12,090		—		(27)		12,063		Variable
Other debt	(e)	2,276		—		(13)		2,263		Variable
Totals		1,595,560		(878)		(21,031)		1,573,651
less: Current portion		(12,653)		—		—		(12,653)
Long-term debt		$	1,582,907	$	(878)	$	(21,031)	$	1,560,998

Interest expense consists of the following for 2023, 2022 and 2021.


		Year Ended September 30, 2023
		Effective Interest Rate		Cash Interest		Amort. Debt (Premium) Discount		Amort. Deferred Cost & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.95	%	$	56,050	$	(48)	$	2,020	$	58,022
Term Loan B due 2029	(b)	7.49	%	35,321		172		1,398		36,891

Revolver due 2025	(b)	Variable		4,282		—		646		4,928


Finance lease - real estate	(c)	5.60	%	680		—		—		680
Non U.S. lines of credit	(d)	Variable		630		—		42		672

Other debt	(e)	Variable		392		—		2		394

Capitalized interest				(142)		—		—		(142)
Totals				$	97,213	$	124	$	4,108	$	101,445


		Year Ended September 30, 2022
		Effective Interest Rate		Cash Interest		Amort. Debt (Premium) Discount		Amort. Deferred Cost & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.95	%	$	57,105	$	(48)	$	2,056	$	59,113

Term Loan B due 2029	(b)	4.14	%	18,116		135		1,068		19,319
Revolver due 2025	(b)	Variable		3,762		—		491		4,253


Finance lease - real estate	(c)	5.60	%	759		—		4		763
Non U.S. lines of credit	(d)	Variable		17		—		15		32
Non U.S. term and mortgage loans	(d)	Variable		610		—		53		663
Other debt	(e)	Variable		544		—		1		545
Capitalized interest				(309)		—		—		(309)
Totals				$	80,604	$	87	$	3,688	$	84,379


		Year Ended September 30, 2021
		Effective Interest Rate		Cash Interest		Amort. Debt Premium		Amort. Deferred Cost & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.95	%	$	57,500	$	(48)	$	2,084	$	59,536

Revolver due 2025	(b)	Variable		1,078		—		491		1,569



Finance lease - real estate	(c)	5.65	%	875		—		25		900
Non U.S. lines of credit	(d)	Variable		15		—		15		30
Non U.S. term and mortgage loans	(d)	Variable		655		—		71		726
Other debt	(e)	Variable		443		—		2		445
Capitalized interest				(31)		—		—		(31)
Totals				$	60,535	$	(48)	$	2,688	$	63,175

Minimum payments under debt agreements for the next five years are as follows: $9,625 in 2024, $8,153 in 2025, $8,026 in 2026, $8,005 in 2027, $1,033,220 in 2028 and $422,783 thereafter.

(a)During 2020, Griffon issued, at par $1,000,000 of 5.75% Senior Notes due 2028 (the "2028 Senior Notes"). Proceeds from the 2028 Senior Notes were used to redeem $1,000,000 of 5.25% Senior Notes due 2022. In connection with the issuance and exchange of the 2028 Senior Notes, Griffon capitalized $16,448 of underwriting fees and other expenses incurred, which is being amortized over the term of such notes.

During 2022, Griffon purchased $25,225 of Senior Notes in the open market at a weighted average discount of 91.82% of par, or $23,161. In connection with these purchases, Griffon recognized a $1,767 net gain on the early extinguishment of debt comprised of $2,064 of face value in excess of purchase price, offset by $297 related to the write-off of underwriting fees and other expenses. As of September 30, 2023, outstanding Senior Notes due totaled $974,775; interest is payable semi-annually on March 1 and September 1.

The 2028 Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. The 2028 Senior Notes were registered under the Securities Act of 1933, as amended (the "Securities Act") via an exchange offer. The fair value of the 2028 Senior Notes approximated $882,171 on September 30, 2023 based upon quoted market prices (level 1 inputs). At September 30, 2023, $8,920 of underwriting fees and other expenses incurred remained to be amortized.

(b) On August 1, 2023, Griffon amended and restated its revolving credit agreement (as amended, "Credit Agreement"). The amendment increased the maximum borrowing availability on its revolving credit facility from $400,000 to $500,000 (the "Revolver") and extended the maturity date of the Revolver from March 22, 2025 to August 1, 2028. In the event the 2028 Senior Notes are not repaid, refinanced, or replaced prior to December 1, 2027, the Revolver will mature on December 1, 2027. The amendment also modified certain other provisions of the Credit Agreement, including increasing the letter of credit sub-facility from $100,000 to $125,000 and increasing the customary accordion feature from a minimum of $375,000 to a minimum of $500,000. Additionally, the Revolver includes a multi-currency sub-facility of $200,000.

Borrowings under the Revolver may be repaid and re-borrowed at any time. Interest is payable on borrowings at either a Secured Overnight Financing Rate ("SOFR"), Sterling Overnight Index Average ("SONIA") or base rate benchmark rate, plus an applicable margin, which adjusts based on financial performance. Griffon's SOFR loans accrue interest at Term SOFR plus a credit adjustment spread and a margin of 2.00% (7.42% at September 30, 2023), SONIA loans accrue interest at SONIA Base Rate plus a credit adjustment spread and a margin of 2.00% (7.22% at September 30, 2023) and base rate loans accrue interest at prime rate plus a margin of 1.00% (9.50% at September 30, 2023).

At September 30, 2023, under the Credit Agreement, there were $50,445 in outstanding borrowings; outstanding standby letters of credit were $12,962; and $436,593 was available, subject to certain loan covenants, for borrowing at that date.

On January 24, 2022, Griffon amended and restated its Credit Agreement to provide for a new $800,000 Term Loan B facility, due January 24, 2029, in addition to the Revolver, and replaced the London Interbank Offer Rate (LIBOR) with SOFR. The Term Loan B accrues interest at the Term SOFR rate plus a credit adjustment spread with a floor of 0.50%, and a spread of 2.25% (7.79% as of September 30, 2023). The Original Issue Discount for the Term Loan B was 99.75%. In connection with this amendment, Griffon capitalized $15,466 of underwriting fees and other expenses incurred, which are being amortized over the term of the loan.

The Term Loan B facility requires nominal quarterly principal payments of $2,000, potential additional annual principal payments based on a percentage of excess cash flow and secured leverage thresholds starting with the fiscal year ended September 30, 2023; and a final balloon payment due at maturity. At September 30, 2023, Griffon's secured leverage remained below the threshold set forth in the Credit Agreement that would, if exceeded, require Griffon to make an additional payment, and therefore no additional annual principal payment was required. Term Loan B borrowings may generally be repaid without penalty but may not be re-borrowed. During 2023 and 2022, Griffon prepaid $25,000 and $300,000, respectively, of the aggregate principal amount of the Term Loan B, which permanently reduced the outstanding balance, and recognized a $437 and $6,296 charge on the prepayment of debt in 2023 and 2022, respectively. The charges were comprised of write-offs of underwriting fees and other expenses of $386 and $5,575 for 2023 and 2022, respectively, and the original issue discount of $51 and $721 for 2023 and 2022, respectively. The Term Loan B facility is subject to the same affirmative and negative covenants that apply to the Revolver, but is not subject to any financial maintenance covenants. Term Loan B borrowings are secured by the same collateral as the Revolver. The fair value of the Term Loan B facility approximated $461,843 on September 30, 2023 based upon quoted market prices (level 1 inputs). At

September 30, 2023, $7,039 of underwriting fees and other expenses incurred, remained to be amortized. At September 30, 2023, $463,000 of the Term Loan B was outstanding.

The Revolver 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. Both the Revolver and Term Loan B 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.

(c) On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. During 2022, the financing lease on the Troy, Ohio location expired. The Troy 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 buyout option in November 2021. Refer to Note 22- Leases for further details.

(d) In November 2012, Garant G.P. (“Garant”), a Griffon wholly owned subsidiary, entered into a CAD 15,000 ($11,117 as of September 30, 2023) revolving credit facility. Effective in December 2022, the facility was amended to replace LIBOR (USD) with the Canadian Dollar Offer Rate ("CDOR"). The facility accrues interest at CDOR or the Bankers Acceptance Rate (CDN) plus 1.3% per annum (6.69% using CDOR and 6.43% using Bankers Acceptance Rate CDN as of September 30, 2023). The revolving facility matures in December 2023, but is renewable upon mutual agreement with the lender. Garant is required to maintain a certain minimum equity. At September 30, 2023, there were no outstanding borrowings under the revolving credit facility with CAD 15,000 ($11,117 as of September 30, 2023) available.

During 2022, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries (collectively, "Griffon Australia") amended its AUD 18,375 term loan, AUD 20,000 revolver and AUD 15,000 receivable purchase facility agreement that was entered into in July 2016 and further amended in fiscal 2020. Griffon Australia paid off the term loan in the amount of AUD 9,625 and canceled the AUD 20,000 revolver. In March 2023 the existing receivable purchase facility was renewed and increased from AUD 15,000 to AUD 30,000 ($19,188 as of September 30, 2023). The receivable purchase facility matures in March 2024, but is renewable upon mutual agreement with the lender. The receivable purchase facility accrues interest at BBSY (Bank Bill Swap Rate) plus 1.25% per annum (5.33% at September 30, 2023). At September 30, 2023, there was no balance outstanding under the receivable purchase facility with AUD 30,000 ($19,188 as of September 30, 2023) available. The receivable purchase facility is secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level.

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, which matured in July 2023. Prior to maturity, on June 30, 2023, AMES UK paid off and cancelled the GBP 14,000 term loan and GBP 4,000 mortgage loan. The payoff amounts were GBP 7,525 ($9,543) and GBP 2,451 ($3,108), respectively. Upon maturity in July 2023, the GBP 5,000 revolver had no balance and was not renewed.

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

LEASES - Schedule of lease cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Lease Cost
Fixed	$ 45,993	$ 44,457	$ 38,362
Variable	10,654	8,615	7,573
Short-term	7,717	7,438	4,210
Total	$ 64,364	$ 60,510	$ 50,145

ACQUISITIONS

12 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

Griffon continually evaluates potential acquisitions that either 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.

On January 24, 2022, Griffon acquired Hunter, a market leader in residential ceiling, commercial, and industrial fans, from MidOcean for a contractual purchase price of $845,000. The acquisition was primarily financed with a Term Loan B facility and a combination of cash on hand and revolver borrowings. Hunter complements and diversifies Griffon's portfolio of leading consumer brands and products. Based on the final purchase price allocation, the goodwill recognized was $250,711, which was assigned to the CPP segment, and is not deductible for income tax purposes. The following unaudited proforma summary from continuing operations presents consolidated information as if the Company acquired Hunter on October 1, 2020:


	Proforma For the Year Ended September 30, (unaudited)
	2022		2021

Revenue	$	2,938,998	$	2,624,378
Income (loss) from continuing operations	(288,062)		77,804

Griffon did not include any material, nonrecurring proforma adjustments directly attributable to the business combination in the proforma revenue and earnings. These proforma amounts have been compiled by adding the historical results from continuing operations of Griffon, restated for classifying the results of operations of the Telephonics business as a discontinued operation, to the historical results of Hunter after applying Griffon’s accounting policies and the following proforma adjustments:

•Depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant, and equipment, and intangible assets had been applied from October 1, 2020.

•Additional interest and related expenses from the new $800,000 seven year Term Loan B facility that Griffon used to acquire Hunter Fan reduced by historical Hunter interest expense.

•The tax effects on the above adjustments using the statutory tax rate of 25.7% for Griffon and 27.1% for Hunter.

The calculation of the final purchase price allocation is as follows:



Accounts receivable (1)	$	64,602
Inventories(2)	110,299
Other current assets	7,940
Property, plant and equipment	15,007
Operating lease right-of-use assets	12,447
Goodwill	250,711
Intangible assets	616,000

Total assets acquired	$	1,077,006

Accounts payable and accrued liabilities	$	70,039
Current portion of operating lease liabilities	3,323
Deferred tax liability(3)	139,219
Long-term operating lease liabilities	9,123
Other long-term liabilities	3,848
Total liabilities assumed	$	225,552
Total net assets acquired	$	851,454

____________________________

(1) Includes $67,201 of gross accounts receivable of which $2,599 was not expected to be collected. The fair value of accounts receivable approximated book value acquired.

(2) Includes $113,287 of gross inventory of which $2,988 was reserved for obsolete items.

(3) Deferred tax liability recorded on primarily intangibles assets.

The amounts assigned to goodwill and major intangible asset classifications for the Hunter acquisition are as follows:


	Average Life (Years)
Goodwill		$	250,711	N/A
Indefinite-lived intangibles (Hunter and Casablanca brands)	356,000	N/A
Definite-lived intangibles (Customer relationships)	260,000	20
Total goodwill and intangible assets		$	866,711

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 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 years ended September 30, 2023 and 2021, acquisition related costs were de minimis. During the year ended September 30, 2022, SG&A included acquisition costs of $9,303.

EMPLOYEE BENEFIT PLANS - Actual and weighted-average assets allocation for qualified benefit plans (Details)	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, total actual weighted average plan asset allocations	100.00%	100.00%
Target plan asset allocations	100.00%
Cash and equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, total actual weighted average plan asset allocations	3.30%	4.30%
Target plan asset allocations	0.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, total actual weighted average plan asset allocations	41.90%	41.10%
Target plan asset allocations	44.00%
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, total actual weighted average plan asset allocations	24.80%	24.60%
Target plan asset allocations	36.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, total actual weighted average plan asset allocations	30.00%	30.00%
Target plan asset allocations	20.00%

REPORTABLE SEGMENTS - Schedule of summary of reconciliation of segment profit before taxes and operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 505,332	$ 458,158	$ 246,410
Goodwill and intangible asset impairments	(109,200)	(517,027)	0
Debt extinguishment, net	(437)	(4,529)	0
Special dividend ESOP charges	(15,494)	(10,538)
Gain on sale of buildings	12,655	0	0
Fair value step-up of acquired inventory sold	0	(5,401)	0
Income (loss) before taxes from continuing operations	112,682	(270,879)	109,955
Operating
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	561,219	512,046	296,688
Depreciation and amortization	(64,877)	(64,101)	(51,803)
Operating \| Home and Building Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	510,876	412,738	181,015
Depreciation and amortization	(15,066)	(16,539)	(17,370)
Operating \| Consumer and Professional Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	50,343	99,308	115,673
Depreciation and amortization	(49,811)	(47,562)	(34,433)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated amounts, excluding depreciation	(55,887)	(53,888)	(50,278)
Net interest expense	(99,351)	(84,164)	(62,735)
Depreciation and amortization	(65,445)	(64,658)	(52,302)
Goodwill and intangible asset impairments	(109,200)	(517,027)	0
Restructuring charges	(92,468)	(16,782)	(21,418)
Debt extinguishment, net	(437)	(4,529)	0
Acquisition costs	0	(9,303)	0
Strategic review - retention and other	(20,225)	(9,683)	0
Special dividend ESOP charges	(15,494)	(10,538)	0
Gain on sale of buildings	12,655	0	0
Proxy expenses	(2,685)	(6,952)	0
Fair value step-up of acquired inventory sold	$ 0	$ (5,401)	$ 0

CREDIT LOSSES (Tables)

12 Months Ended

Sep. 30, 2023

Credit Loss [Abstract]

Schedule of Accounts Receivable, Allowance for Credit Losses


Beginning Balance, October 1, 2021	$	8,787
Allowance for credit losses acquired	2,598
Provision for expected credit losses	1,172
Amounts written off charged against the allowance	(251)
Other, primarily foreign currency translation	(169)
Ending Balance, September 30, 2022	$	12,137

Provision for expected credit losses	971
Amounts written off charged against the allowance	(1,186)
Other, primarily foreign currency translation	(658)
Ending Balance, September 30, 2023	$	11,264

ACQUISITIONS - Schedule of pro forma information (Details) - Hunter Fan Company - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Revenue	$ 2,938,998	$ 2,624,378
Income (loss) from continuing operations	$ (288,062)	$ 77,804

COVER - USD ($)	12 Months Ended
COVER - USD ($)	Sep. 30, 2023	Oct. 31, 2023	Mar. 31, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--09-30
Document Transition Report	false
Entity File Number	1-06620
Entity Registrant Name	GRIFFON CORP
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,546,000,000
Entity Common Stock, Shares Outstanding		52,164,735
Documents Incorporated by Reference	Part III — (Items 10, 11, 12, 13 and 14). Registrant’s definitive proxy statement to be filed pursuant to Regulation 14A of the Securities Exchange Act of 1934.
Amendment Flag	false
Entity Central Index Key	0000050725
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

DISCONTINUED OPERATIONS - Balance sheets information of installation services and other discontinued activities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets of discontinued operations	$ 5,291	$ 5,775
Installation Services and Other Discontinued Activities \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Prepaid and other current assets	1,001	1,189
Other long-term assets	4,290	4,586
Total assets of discontinued operations	5,291	5,775
Accrued liabilities, current	7,148	12,656
Other long-term liabilities	4,650	4,262
Total liabilities of discontinued operations	$ 11,798	$ 16,918

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Income Tax Examination [Line Items]
Valuation allowance increase (decrease)	$ 4,502	$ 3,065
Undistributed earnings of foreign subsidiaries	117,886
Undistributed earnings of foreign subsidiaries, amount previously subjected to federal income tax	65,018
Unremitted foreign earnings	1,894	0
Deferred tax assets, valuation allowance	17,992	13,490
Potential tax benefits impact on effective tax rate	3,021
Liability for uncertainty in income taxes, current	651	521
Decrease in unrecognized tax benefits is reasonably possible	1,679
Domestic Tax Authority
Income Tax Examination [Line Items]
Operating loss carryforwards	0	44,521
Tax credit carryforward amount	5,933	5,933
Capital loss carryforwards	0	0
Non-U.S. Tax Authority
Income Tax Examination [Line Items]
Operating loss carryforwards	27,585	8,798
State and Local Jurisdiction
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 176,343	$ 192,134

LEASES

12 Months Ended

Sep. 30, 2023

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 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 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 Year Ended September 30,
	2023		2022		2021
Fixed	$	45,993	$	44,457	$	38,362
Variable (a), (b)	10,654		8,615		7,573
Short-term (b)	7,717		7,438		4,210
Total	$	64,364	$	60,510	$	50,145

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

(b) Not recorded on the balance sheet.

Supplemental cash flow information were as follows:


	For the Year Ended September 30,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	41,533	$	47,275	$	43,444
Financing cash flows from finance leases	2,164		2,462		3,815
Total	$	43,697	$	49,737	$	47,259

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


	As of September 30,
	2023		2022
Operating Leases:
Right of use assets:
Operating right-of-use assets	$	169,942	$	183,398

Lease Liabilities:
Current portion of operating lease liabilities	$	32,632	$	31,680
Long-term operating lease liabilities	147,224		159,414
Total operating lease liabilities	$	179,856	$	191,094

Finance Leases:
Right of use assets:
Property, plant and equipment, net(1)	$	994	$	13,696

Lease Liabilities:
Notes payable and current portion of long-term debt	$	280	$	2,065
Long-term debt, net	184		11,995
Total financing lease liabilities	$	464	$	14,060

(1) For the years ended September 30, 2023 and 2022, finance lease assets are recorded net of accumulated depreciation of $6,769 and $4,972, respectively.

On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. During the year ended September 30, 2022, the financing lease on the Troy, Ohio location expired. The Troy 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 buyout option in November 2021. The remaining lease liability balance relates to finance equipment leases.

The aggregate future maturities of lease payments for operating leases and finance leases as of September 30, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases
2024	$	41,955	$	297
2025	35,233		123
2026	26,504		65
2027	22,473		4
2028	18,185		—
Thereafter	83,456		—

Total lease payments	227,806		489
Less: Imputed Interest	(47,950)		(25)
Present value of lease liabilities	$	179,856	$	464

Average lease terms and discount rates were as follows:


	As of September 30,
	2023		2022
Weighted-average remaining lease term (years)
Operating Leases	7.9		8.4
Finance Leases	3.3		7.4

Weighted-average discount rate
Operating Leases	5.94	%	5.47	%
Finance Leases	5.65	%	5.51	%

LEASES


	For the Year Ended September 30,
	2023		2022		2021
Fixed	$	45,993	$	44,457	$	38,362
Variable (a), (b)	10,654		8,615		7,573
Short-term (b)	7,717		7,438		4,210
Total	$	64,364	$	60,510	$	50,145

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

(b) Not recorded on the balance sheet.

Supplemental cash flow information were as follows:


	For the Year Ended September 30,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	41,533	$	47,275	$	43,444
Financing cash flows from finance leases	2,164		2,462		3,815
Total	$	43,697	$	49,737	$	47,259

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


	As of September 30,
	2023		2022
Operating Leases:
Right of use assets:
Operating right-of-use assets	$	169,942	$	183,398

Lease Liabilities:
Current portion of operating lease liabilities	$	32,632	$	31,680
Long-term operating lease liabilities	147,224		159,414
Total operating lease liabilities	$	179,856	$	191,094

Finance Leases:
Right of use assets:
Property, plant and equipment, net(1)	$	994	$	13,696

Lease Liabilities:
Notes payable and current portion of long-term debt	$	280	$	2,065
Long-term debt, net	184		11,995
Total financing lease liabilities	$	464	$	14,060

(1) For the years ended September 30, 2023 and 2022, finance lease assets are recorded net of accumulated depreciation of $6,769 and $4,972, respectively.

The aggregate future maturities of lease payments for operating leases and finance leases as of September 30, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases
2024	$	41,955	$	297
2025	35,233		123
2026	26,504		65
2027	22,473		4
2028	18,185		—
Thereafter	83,456		—

Total lease payments	227,806		489
Less: Imputed Interest	(47,950)		(25)
Present value of lease liabilities	$	179,856	$	464

Average lease terms and discount rates were as follows:


	As of September 30,
	2023		2022
Weighted-average remaining lease term (years)
Operating Leases	7.9		8.4
Finance Leases	3.3		7.4

Weighted-average discount rate
Operating Leases	5.94	%	5.47	%
Finance Leases	5.65	%	5.51	%

EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used in determining the net periodic benefit costs (Details)	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.17%	2.63%	2.30%
Expected return on assets	6.72%	6.72%	6.75%
Supplemental Employee Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.02%	1.94%	1.69%
Expected return on assets	0.00%	0.00%	0.00%

GOODWILL AND INTANGIBLES (Tables)

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table provides a summary of the carrying value of goodwill by segment as of September 30, 2023, 2022 and 2021.


	At September 30, 2021		Goodwill from acquisitions (a)		Accumulated Impairment Charges		Foreign currency translation adjustments		At September 30, 2022		Goodwill from acquisitions (a)		Foreign currency translation adjustments		At September 30, 2023
Consumer and Professional Products	$	234,895	$	258,536	$	(342,027)	$	(6,867)	$	144,537	$	(7,926)	$	—	$	136,611
Home and Building Products	191,253		—		—		—		191,253		—		—		191,253

Total	$	426,148	$	258,536	$	(342,027)	$	(6,867)	$	335,790	$	(7,926)	$	—	$	327,864

(a) The change in the CPP segment was due to the acquisitions of Hunter in 2022.

Schedule of Identifiable Intangible Assets

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


	At September 30, 2023					At September 30, 2022
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	443,164	$	113,057	23	$	442,085	$	91,143
Unpatented technology	15,504		3,815		13	14,326		3,022
Total amortizable intangible assets	458,668		116,872			456,411		94,165
Trademarks	293,447		—			399,668		—
Total intangible assets	$	752,115	$	116,872		$	856,079	$	94,165

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

EMPLOYEE BENEFIT PLANS - ESOP shares (Details) - shares	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Allocated shares	4,409,113	3,938,384
Unallocated shares	195,827	1,024,642	1,863,000
Employee stock ownership plan (ESOP), shares in ESOP	4,604,940	4,963,026

LONG-TERM DEBT

12 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

LONG-TERM DEBT

Debt at September 30, 2023 and 2022 consisted of the following:


		At September 30, 2023
		Outstanding Balance		Original Issuer Premium (Discount)		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate
Senior Notes due 2028	(a)	$	974,775	$	218	$	(8,920)	$	966,073	5.75	%
Term Loan B due 2029	(b)	463,000		(922)		(7,039)		455,039		Variable
Revolver due 2028	(b)	50,445		—		(3,606)		46,839		Variable

Non U.S. lines of credit	(d)	—		—		(3)		(3)		Variable

Other debt	(e)	1,592		—		(11)		1,581		Variable
Totals		1,489,812		(704)		(19,579)		1,469,529
less: Current portion		(9,625)		—		—		(9,625)
Long-term debt		$	1,480,187	$	(704)	$	(19,579)	$	1,459,904


		At September 30, 2022
		Outstanding Balance		Original Issuer Premium (Discount)		Capitalized Fees & Expenses		Balance Sheet		Coupon Interest Rate
Senior notes due 2028	(a)	$	974,775	$	266	$	(10,939)	$	964,102	5.75	%
Term Loan B due 2029	(b)	496,000		(1,144)		(8,823)		486,033		Variable
Revolver due 2025	(b)	97,328		—		(1,227)		96,101		Variable



Finance lease - real estate	(c)	13,091		—		—		13,091		Variable
Non U.S. lines of credit	(d)	—		—		(2)		(2)		Variable
Non U.S. term and mortgage loans	(d)	12,090		—		(27)		12,063		Variable
Other debt	(e)	2,276		—		(13)		2,263		Variable
Totals		1,595,560		(878)		(21,031)		1,573,651
less: Current portion		(12,653)		—		—		(12,653)
Long-term debt		$	1,582,907	$	(878)	$	(21,031)	$	1,560,998

Interest expense consists of the following for 2023, 2022 and 2021.


		Year Ended September 30, 2023
		Effective Interest Rate		Cash Interest		Amort. Debt (Premium) Discount		Amort. Deferred Cost & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.95	%	$	56,050	$	(48)	$	2,020	$	58,022
Term Loan B due 2029	(b)	7.49	%	35,321		172		1,398		36,891

Revolver due 2025	(b)	Variable		4,282		—		646		4,928


Finance lease - real estate	(c)	5.60	%	680		—		—		680
Non U.S. lines of credit	(d)	Variable		630		—		42		672

Other debt	(e)	Variable		392		—		2		394

Capitalized interest				(142)		—		—		(142)
Totals				$	97,213	$	124	$	4,108	$	101,445


		Year Ended September 30, 2022
		Effective Interest Rate		Cash Interest		Amort. Debt (Premium) Discount		Amort. Deferred Cost & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.95	%	$	57,105	$	(48)	$	2,056	$	59,113

Term Loan B due 2029	(b)	4.14	%	18,116		135		1,068		19,319
Revolver due 2025	(b)	Variable		3,762		—		491		4,253


Finance lease - real estate	(c)	5.60	%	759		—		4		763
Non U.S. lines of credit	(d)	Variable		17		—		15		32
Non U.S. term and mortgage loans	(d)	Variable		610		—		53		663
Other debt	(e)	Variable		544		—		1		545
Capitalized interest				(309)		—		—		(309)
Totals				$	80,604	$	87	$	3,688	$	84,379


		Year Ended September 30, 2021
		Effective Interest Rate		Cash Interest		Amort. Debt Premium		Amort. Deferred Cost & Other Fees		Total Interest Expense
Senior notes due 2028	(a)	5.95	%	$	57,500	$	(48)	$	2,084	$	59,536

Revolver due 2025	(b)	Variable		1,078		—		491		1,569



Finance lease - real estate	(c)	5.65	%	875		—		25		900
Non U.S. lines of credit	(d)	Variable		15		—		15		30
Non U.S. term and mortgage loans	(d)	Variable		655		—		71		726
Other debt	(e)	Variable		443		—		2		445
Capitalized interest				(31)		—		—		(31)
Totals				$	60,535	$	(48)	$	2,688	$	63,175

Minimum payments under debt agreements for the next five years are as follows: $9,625 in 2024, $8,153 in 2025, $8,026 in 2026, $8,005 in 2027, $1,033,220 in 2028 and $422,783 thereafter.

September 30, 2023, $7,039 of underwriting fees and other expenses incurred, remained to be amortized. At September 30, 2023, $463,000 of the Term Loan B was outstanding.

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

At September 30, 2023, Griffon and its subsidiaries were in compliance with the terms and covenants of its credit and loan agreements.

REPORTABLE SEGMENTS - Disaggregation of revenue by segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenue	$ 2,685,183	$ 2,848,488	$ 2,270,626
Home and Building Products
Segment Reporting Information [Line Items]
Revenue	1,588,505	1,506,882	1,041,108
Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	$ 1,096,678	$ 1,341,606	$ 1,229,518

- Definition

+ References

+ Details

EARNINGS PER SHARE - Basic and diluted EPS from continuing operations (Details) - shares	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Common shares outstanding (in shares)	53,062,000	57,064,000	56,613,000
Unallocated ESOP shares (in shares)	(195,827)	(1,024,642)	(1,863,000)
Non-vested restricted stock (in shares)	(3,111,000)	(3,457,000)	(3,601,000)
Impact of weighted average shares (in shares)	2,356,000	(910,000)	(319,000)
Weighted average shares outstanding - basic (in shares)	52,111,000	51,672,000	50,830,000
Incremental shares from stock based compensation (in shares)	2,501,000	0	2,539,000
Weighted average shares outstanding - diluted (in shares)	54,612,000	51,672,000	53,369,000
Anti-dilutive restricted stock excluded from diluted EPS computation	0	2,294,000	0

RESTRUCTURING CHARGES - Summary of accrued liability for the restructuring and related charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 650	$ 682	$ 845
Charges	92,468	16,782	21,418
Payments	(14,528)	(11,983)	(14,926)
Non-cash charges	(58,932)	(4,831)	(6,655)
Restructuring reserve, ending balance	19,658	650	682
Personnel related costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	386	418	581
Charges	16,772	4,124	3,190
Payments	(3,051)	(4,156)	(3,353)
Non-cash charges	0	0	0
Restructuring reserve, ending balance	14,107	386	418
Facilities & Exit Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	264	264	264
Charges	16,764	7,827	11,573
Payments	(11,477)	(7,827)	(11,573)
Non-cash charges	0	0	0
Restructuring reserve, ending balance	5,551	264	264
Facility and Other Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	0	0
Charges	58,932	4,831	6,655
Payments	0	0	0
Non-cash charges	(58,932)	(4,831)	(6,655)
Restructuring reserve, ending balance	$ 0	$ 0	$ 0

LEASES - Supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 41,533	$ 47,275	$ 43,444
Financing cash flows from finance leases	2,164	2,462	3,815
Total	$ 43,697	$ 49,737	$ 47,259

RESTRUCTURING CHARGES - Narrative (Details) $ in Thousands, ft² in Millions	12 Months Ended			20 Months Ended	35 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2024 USD ($) ft² position wood_mill	Sep. 30, 2022 USD ($) position
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 92,468	$ 16,782	$ 21,418
Payments for restructuring	14,528	11,983	14,926
Non-cash charges	58,932	4,831	6,655
Consumer and Professional Products \| Global Sourcing Strategy Expansion \| Forecast
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, facility closing, area \| ft²				1.2
Restructuring and related cost, facility closing, percentage				15.00%
Number of headcount reduced \| position				600
Number of impacted wood mills \| wood_mill				4
Consumer and Professional Products \| Global Sourcing Strategy Expansion \| Forecast \| Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 120,000
Payments for restructuring				50,000
Non-cash charges				70,000
Consumer and Professional Products \| Global Sourcing Strategy Expansion \| Forecast \| Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges				130,000
Payments for restructuring				55,000
Non-cash charges				75,000
Consumer and Professional Products \| Next-generation Business Platform
Restructuring Cost and Reserve [Line Items]
Number of headcount reduced \| position					420
Restructuring charges	92,468	16,782	21,418		$ 51,869
Payments for restructuring	33,536	11,951	14,763		35,691
Non-cash charges	58,932	4,831	6,655		16,178
Impairment of machinery and equipment	21,832		1,882
Impairment of inventory	37,100	3,805	4,158
Capital Investments \| Consumer and Professional Products \| Global Sourcing Strategy Expansion \| Forecast \| Minimum
Restructuring Cost and Reserve [Line Items]
Payments to acquire productive assets				3,000
Capital Investments \| Consumer and Professional Products \| Global Sourcing Strategy Expansion \| Forecast \| Maximum
Restructuring Cost and Reserve [Line Items]
Payments to acquire productive assets				$ 5,000
Capital Investments \| Consumer and Professional Products \| Next-generation Business Platform
Restructuring Cost and Reserve [Line Items]
Payments to acquire productive assets					13,000
One Time Charges \| Consumer and Professional Products \| Next-generation Business Platform
Restructuring Cost and Reserve [Line Items]
Restructuring charges					51,869
Personnel related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges	16,772	4,124	3,190
Payments for restructuring	3,051	4,156	3,353
Non-cash charges	0	0	0
Personnel related costs \| Consumer and Professional Products \| Next-generation Business Platform
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	16,772	4,124	3,190		12,934
Facilities, exit costs and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	16,764	7,827	11,573
Payments for restructuring	11,477	7,827	11,573
Non-cash charges	0	0	0
Facilities, exit costs and other \| Consumer and Professional Products \| Next-generation Business Platform
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	$ 16,764	7,827	$ 11,573		$ 22,757
Non-cash facility, disposal of fixed assets \| Consumer and Professional Products \| Next-generation Business Platform
Restructuring Cost and Reserve [Line Items]
Non-cash charges		$ 1,026

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Purchase Commitments Purchase obligations are generally for the purchase of goods and services in the ordinary course of business. Griffon uses blanket purchase orders to communicate expected requirements to certain vendors. Purchase obligations reflect those purchase orders where the commitment is considered to be firm. Amounts purchased under such commitments were $184,422, $255,661 and $235,148 for the years ended September 30, 2023, 2022 and 2021, respectively. Aggregate future minimum purchase obligations at September 30, 2023 are $160,539 in 2024 and $3,622 in 2025. There were no purchase obligations after 2025. Legal and environmental Peekskill Site. Lightron Corporation (“Lightron”), a wholly-owned subsidiary of Griffon, once conducted lamp manufacturing and metal finishing operations at a location in the Town of Cortlandt, New York, just outside the cit 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. Based upon studies conducted by ISCP and the New York Department of Environmental Conservation, soils and groundwater beneath the Peekskill Site contain chlorinated solvents and metals. Stream sediments downgradient from the Peekskill Site also contain metals. 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 reached agreement with Lightron and ISCP pursuant to which Lightron and ISCP will perform a Remedial Investigation/Feasibility Study (“RI/FS”). Performance of the RI/FS is expected to be completed in calendar 2024. 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 and is paying the costs of the RI/FS. Memphis, TN site. Hunter Fan Company (“Hunter”) operated headquarters and a production plant in Memphis, TN for over 50 years (the “Memphis Site”). While Hunter completed certain on-site remediation of PCB-contaminated soils, Hunter did not investigate the extent to which PCBs existed beneath the building itself nor determine whether off-site areas had been impacted. Hunter vacated the site approximately twenty years ago, and the on-site buildings have now been demolished. The State of Tennessee Department of Environment and Conservation (“TDEC”) identified the Memphis site as being potentially contaminated, raising the possibility that site operations could have resulted in soil and groundwater contamination involving volatile organic compounds and metals. In 2021, the TDEC performed a preliminary assessment of the site and recommended to the United States Environmental Protection Agency (“EPA”) that it include the site on the National Priorities List established under CERCLA. The TDEC further recommended that the EPA fund an investigation of potential soil gas contamination in receptors near the site. The TDEC has also indicated that it will proceed with this investigation if the EPA does not act. It is unknown whether the EPA will add the Memphis Site to the National Priorities List, whether a site investigation will reveal contamination and, if there is contamination, the extent of any such contamination. However, given that certain PCB work was not completed in the past and the TDEC’s stated intent for the EPA to perform an investigation (and the statement by the TDEC that it will perform the investigation if the EPA will not), liability is probable in this matter. There are other potentially responsible parties for this site, including a former owner of Hunter; Hunter has notified such former owner of this matter, which may have certain liability for any required remediation. If the EPA decides to add this site to the National Priorities List, a Remedial Investigation/Feasibility Study (“RI/FS”) will be required. Hunter expects that the EPA will ask it to perform this work. If Hunter does not reach an agreement with the EPA to perform this work, the EPA will implement the RI/FS on its own. Should the EPA implement the RI/FS or perform further studies and/or subsequently remediate the site without first reaching an agreement with one or more relevant parties, the EPA would likely seek reimbursement from such parties, including Hunter, for the costs incurred. 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.

ACCRUED LIABILITIES (Tables)

12 Months Ended

Sep. 30, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

The following table details the components of accrued liabilities:


	At September 30, 2023		At September 30, 2022
Compensation	$	77,558	$	77,823
Interest	4,317		6,798
Warranties and rebates	24,294		18,965
Insurance	10,619		10,533
Rent, utilities and freight	6,720		7,571
Income and other taxes	22,954		22,570
Marketing and advertising	7,008		6,682

Restructuring	19,658		650

Other	19,970		20,205
Total	$	193,098	$	171,797

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Sep. 30, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss)

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


	Years Ended September 30,
	2023						2022						2021
	Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax		Pre-tax		Tax		Net of tax
Foreign currency translation adjustments	$	8,447	$	—	$	8,447	$	(37,920)	$	—	$	(37,920)	$	6,433	$	—	$	6,433
Pension and other defined benefit plans	8,418		(1,784)		6,634		1,907		(404)		1,503		22,583		(4,787)		17,796
Cash flow hedge	(3,363)		1,010		(2,353)		(491)		147		(344)		2,694		(808)		1,886

Total other comprehensive income (loss)	$	13,502	$	(774)	$	12,728	$	(36,504)	$	(257)	$	(36,761)	$	31,710	$	(5,595)	$	26,115

Total comprehensive income (loss) were as follows:


	For the Years Ended September 30,
	2023		2022		2021
Net income (loss)	$	77,617	$	(191,558)	$	79,211
Other comprehensive income (loss), net of taxes	12,728		(36,761)		26,115
Comprehensive income (loss)	$	90,345	$	(228,319)	$	105,326

Accumulated Other Comprehensive Income (Loss)

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


	At September 30,
	2023		2022
Foreign currency translation	(48,723)		(57,170)
Pension and other defined benefit plans	(20,665)		(27,299)
Cash flow hedge	(622)		1,731

Total	$	(70,010)	$	(82,738)

Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)

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


	For the Years Ended September 30,
Gain (Loss)	2023		2022		2021
Pension amortization	$	(3,777)	$	(3,379)	$	(6,292)


Cash flow hedges	1,678		4,741		(2,204)
Total before tax	(2,099)		1,362		(8,496)
Tax	441		(286)		1,784
Net of tax	$	(1,658)	$	1,076	$	(6,712)

GOODWILL AND INTANGIBLES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Goodwill [Line Items]
Goodwill	$ 327,864	$ 335,790	$ 426,148
Goodwill, impairment loss		342,027
Foreign currency translations adjustments	5,236
Amortization expense	22,389	18,215	9,561
Amortization expense estimated for 2024	21,354
Amortization expense estimated for 2025	21,354
Amortization expense estimated for 2026	21,354
Amortization expense estimated for 2027	21,354
Amortization expense estimated for 2028	21,354
Amortization expense estimated thereafter	235,026
Consumer and Professional Products
Goodwill [Line Items]
Goodwill	136,611	144,537	$ 234,895
Goodwill, impairment loss		342,027
Impairment of indefinite-lived intangible assets	$ 109,200	$ 175,000

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022
Statement of Financial Position [Abstract]
Accounts receivable, net allowances	$ 11,264	$ 12,137
Preferred stock, par value (in dollars per share)	$ 0.25	$ 0.25
Preferred stock, share authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.25	$ 0.25
Common stock, share authorized (in shares)	85,000,000	85,000,000
Common stock, shares issued (in shares)	84,746,000
Treasury stock, common, shares (in shares)	31,684,000	27,682,000

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Jun. 27, 2022	Jun. 27, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021
Discontinued Operations \| Telephonics Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, post closing adjustment			$ 4,596	$ 8,846
Discontinued Operations \| Defense Electronics
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pro forma depreciation and amortization		$ 7,442
Discontinued Operations \| Installation Services and Other Discontinued Activities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, insurance claims, warranty and environmental reserves			7,202	8,072
Revenue from disposed business			$ 0	0	$ 0
Discontinued Operations, Disposed of by Sale \| Telephonics Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds (payments) from sale of business, net	$ 330,000
Gain on sale of business				107,517
Gain (loss) on disposition of business, net of tax				$ 89,241