DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Dec. 31, 2017

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 the PPC segment have been segregated from Griffon's continuing operations and are reported as discontinued operations:

	For the Three Months Ended December 31,
	2017		2016
Revenue	$	120,430	$	114,823
Cost of goods and services	95,944		95,438
Gross profit	24,486		19,385
Selling, general and administrative expenses	12,108		10,861
Income from discontinued operations	12,378		8,524
Other income (expense)
Interest expense, net	60		78
Other, net	852		(99		)
Total other income (expense)	912		(21		)
Income from operations of discontinued operations	$	11,466	$	8,545

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

	At December 31, 2017		At September 30, 2017
ASSETS
Accounts receivable, net	$	52,004	$	51,768
Inventories, net	46,552		45,742
Prepaid and other current assets	10,904		11,000
PROPERTY, PLANT AND EQUIPMENT, net	191,793		185,940
GOODWILL	56,865		57,087
INTANGIBLE ASSETS, net	12,228		12,298
OTHER ASSETS	6,929		6,889
Total Assets Held for Sale	$	377,275	370,724
LIABILITIES
Notes payable and current portion of long-term debt	$	11,929	$	11,163
Accounts payable	29,705		36,619
Accrued liabilities	14,407		14,553
LONG-TERM DEBT, net	10,348		10,549
OTHER LIABILITIES	19,348		11,566
Total Liabilities Held for Sale	$	85,737	$	84,450

The following amounts related to the Installation Services segment, discontinued in 2008, and other businesses discontinued several years ago, which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations not held for sale in the Condensed Consolidated Balance Sheets:

	At December 31, 2017		At September 30, 2017
Assets of discontinued operations not held for sale:
Prepaid and other current assets	$	328	$	329
Other long-term assets	2,952		2,960
Total assets of discontinued operations not held for sale	$	3,280	$	3,289
Liabilities of discontinued operations not held for sale:
Accrued liabilities, current	$	3,924	$	8,342
Other long-term liabilities	5,225		3,037
Total liabilities of discontinued operations not held for sale	$	9,149	$	11,379