DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Mar. 31, 2018

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 assets and liabilities of discontinued operations held for sale in the consolidated balance sheet at September 30, 2017:

	At September 30, 2017
ASSETS
Accounts receivable, net	$	51,768
Inventories, net	45,742
Prepaid and other current assets	11,000
PROPERTY, PLANT AND EQUIPMENT, net	185,940
GOODWILL	57,087
INTANGIBLE ASSETS, net	12,298
OTHER ASSETS	6,889
Total Assets Held for Sale	370,724
LIABILITIES
Notes payable and current portion of long-term debt	$	11,163
Accounts payable	36,619
Accrued liabilities	14,553
LONG-TERM DEBT, net	10,549
OTHER LIABILITIES	11,566
Total Liabilities Held for Sale	$	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 March 31, 2018		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	$	3,807	$	8,342
Other long-term liabilities	5,177		3,037
Total liabilities of discontinued operations not held for sale	$	8,984	$	11,379

Summarized results of the Company’s discontinued operations are as follows:

	For the Three Months Ended March 31,						For the Six Months Ended March 31,
	2018			2017			2018			2017
Revenue	$	45,832		$	111,958		$	166,262		$	226,780
Cost of goods and services	36,157			95,277			132,100			190,715
Gross profit	9,675			16,681			34,162			36,065
Selling, general and administrative expenses	13,995			10,556			26,103			21,416
Income (loss) from discontinued operations	(4,320		)	6,125			8,059			14,649
Other income (expense)
Gain on sale of business	117,625			—			117,625
Interest expense, net	(95		)	82			(155		)	4
Other, net	166			(137		)	(687		)	(38		)
Total other income (expense)	117,696			(55		)	116,783			(34		)
Income from operations of discontinued operations	$	113,376		$	6,070		$	124,842		$	14,615