Stockholders' Equity (Tables)

6 Months Ended

May 31, 2017

Stockholders' Equity

Schedule of basic and diluted per share results

	For the Three Months Ended				For the Six Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Net income (loss)	$	4,727	$	(379)	$	3,788	$	(714)
Weighted average shares outstanding for computation of basic per share results		5,001,000		5,150,000		5,020,000		5,151,000
Incremental shares from assumed exercise of Griffin stock options (a)		22,000		—		23,000		—
Adjusted weighted average shares for computation of diluted per share results		5,023,000		5,150,000		5,043,000		5,151,000

(a) Incremental shares from the assumed exercise of Griffin stock options are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options for the 2016 second quarter and 2016 six month period would have been 2,000 for each period.

Schedule of options granted to employees

	For the Six Months Ended
	May 31, 2017			May 31, 2016
		Fair Value per			Fair Value per
	Number of	Option at		Number of	Option at
	Shares	Grant Date		Shares	Grant Date
Employees	5,000	$	11.13	101,450	$	7.51 - 11.65
Non-employee directors	6,570	$	13.49	8,409	$	11.30
	11,570			109,859

Schedule of assumptions used in determining fair values of options

	For the Six Months Ended
	May 31, 2017		May 31, 2016
Expected volatility	32.7 to 39.6	%	32.9 to 41.1	%
Risk free interest rates	2.1 to 2.2	%	1.2 to 1.5	%
Expected option term (in years)	7.5 to 8.5		5 to 8.5
Annual dividend yield	0.8 to 0.9	%	0.9	%

Schedule of option holders

Number of option holders at May 31, 2017 32

Schedule of compensation expense and related tax benefits for stock options

	For the Three Months Ended				For the Six Months Ended
	May 31, 2017		May 31, 2016		May 31, 2017		May 31, 2016
Compensation expense	$	88	$	43	$	170	$	114
Related tax benefit	$	20	$	12	$	40	$	24

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of Fiscal 2017	$	181
Fiscal 2018	$	341
Fiscal 2019	$	234
Fiscal 2020	$	113
Fiscal 2021	$	33
Fiscal 2022	$	1

Summary of the activity under the Griffin Stock Option Plan

	For the Six Months Ended
	May 31, 2017			May 31, 2016
			Weighted			Weighted
			Avg.			Avg.
	Number of		Exercise	Number of		Exercise
	Shares		Price	Shares		Price
Outstanding at beginning of period	324,546	$	29.23	225,727	$	30.47
Granted	11,570	$	30.59	109,859	$	26.83
Forfeited	(2,104)	$	38.00	(5,266)	$	30.38
Outstanding at end of period	334,012	$	29.22	330,320	$	29.26

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Vested and Nonvested Options	May 31, 2017	Exercise Price		(in years)	Value
$23.00 - $28.00	124,793	$	26.67	8.4	$	552
$28.00 - $32.00	128,248	$	29.07	4.6		261
$32.00 - $39.00	80,971	$	33.40	1.4		—
	334,012	$	29.22	5.3	$	813

Schedule of accumulated other comprehensive loss

	For the Six Months Ended May 31, 2017
			Unrealized gain
	Unrealized loss on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2016	$	(1,062)	$	13	$	(1,049)
Other comprehensive (loss) income before reclassifications		(625)		192		(433)
Amounts reclassified		427		—		427
Net activity for other comprehensive loss		(198)		192		(6)
Balance May 31, 2017	$	(1,260)	$	205	$	(1,055)

	For the Six Months Ended May 31, 2016
			Unrealized gain
	Unrealized loss on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2015	$	(1,744)	$	659	$	(1,085)
Other comprehensive loss before reclassifications		(1,115)		(339)		(1,454)
Amounts reclassified		427		—		427
Net activity for other comprehensive loss		(688)		(339)		(1,027)
Balance May 31, 2016	$	(2,432)	$	320	$	(2,112)

Schedule of components of accumulated other comprehensive income (loss)

	For the Three Months Ended
	May 31, 2017						May 31, 2016
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassifications included in net income (loss):
Loss on cash flow hedges (interest expense)	$	342	$	(124)	$	218	$	339	$	(125)	$	214
Total reclassifications included in net income (loss)		342		(124)		218		339		(125)		214
Mark to market adjustment on Centaur Media for an increase in the foreign currency exchange rate		48		(16)		32		55		(19)		36
Mark to market adjustment on Centaur Media for an increase (decrease) in fair value		52		(19)		33		(183)		64		(119)
(Decrease) increase in fair value adjustments on Griffin’s cash flow hedges		(1,297)		468		(829)		43		(17)		26
Total change in other comprehensive loss		(1,197)		433		(764)		(85)		28		(57)
Other comprehensive (loss) income	$	(855)	$	309	$	(546)	$	254	$	(97)	$	157

	For the Six Months Ended
	May 31, 2017						May 31, 2016
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassifications included in net income (loss):
Loss on cash flow hedges (interest expense)	$	681	$	(254)	$	427	$	677	$	(250)	$	427
Total reclassifications included in net income (loss)		681		(254)		427		677		(250)		427
Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate		36		(12)		24		(73)		26		(47)
Mark to market adjustment on Centaur Media for an increase (decrease) in fair value		259		(91)		168		(448)		156		(292)
Decrease in fair value adjustments on Griffin’s cash flow hedges		(965)		340		(625)		(1,769)		654		(1,115)
Total change in other comprehensive loss		(670)		237		(433)		(2,290)		836		(1,454)
Other comprehensive income (loss)	$	11	$	(17)	$	(6)	$	(1,613)	$	586	$	(1,027)