OTHER INCOME (EXPENSE)

6 Months Ended

Mar. 31, 2019

Other Income and Expenses [Abstract]

OTHER INCOME (EXPENSE)

OTHER INCOME (EXPENSE)

For the quarters ended March 31, 2019 and 2018, Other income (expense) includes $(118) and $217, respectively, of net currency exchange gains (losses) in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries as well as $108 and $1,266, respectively, of net investment income.

For the six months ended March 31, 2019 and 2018, Other income (expense) includes $384 and $(219), respectively, of net currency exchange gains (losses) in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries as well as $31 and $1,261, respectively, of net investment income.

Additionally, during the quarters ended March 31, 2019 and 2018, Other income (expense) included net periodic benefit plan income of $787 and $882, respectively. During the six months ended March 31, 2019 and 2018, Other income (expense) included net periodic benefit plan income of $1,574 and $1,764, respectively. Effective October 1, 2018, these benefits amounts are required to be included in other income; in the past these were in Selling, general and administrative expenses, as a result of implementation of the new accounting standard on pensions. All periods have been restated. See Note 13 - Employee Benefit Plans for further information on the implementation of this guidance.