Investment in Centaur Media plc

9 Months Ended

Aug. 31, 2015

Investment in Centaur Media plc

Investment in Centaur Media plc

4.Investment in Centaur Media plc

As of August 31, 2015, Griffin held 1,952,462 shares of common stock in Centaur Media plc (“Centaur Media”). Griffin’s investment in the common stock of Centaur Media is accounted for as an available-for-sale security under ASC 320-10, “Investments — Debt and Equity Securities.” Accordingly, changes in the fair value of Centaur Media, reflecting both changes in the stock price and changes in the foreign currency exchange rate, are included, net of income taxes, in accumulated other comprehensive income (see Note 7). In the 2014 nine month period, Griffin had a pretax gain of $318 from the sale of 500,000 shares of its Centaur Media common stock, which generated total cash proceeds of $566, after transaction costs. Griffin has not sold any of its Centaur Media common stock since the sale in the 2014 nine month period.

The fair value, cost and unrealized gain of Griffin’s investment in Centaur Media are as follows:

	Aug. 31, 2015		Nov. 30, 2014
Fair value	$	2,562	$	1,924
Cost	1,014		1,014
Unrealized gain	$	1,548	$	910