XML 19 R48.htm IDEA: XBRL DOCUMENT v3.19.3
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ / shares in Units, $ in Thousands, $ in Thousands
12 Months Ended
Sep. 30, 2019
USD ($)
segment
$ / shares
Sep. 30, 2019
CAD ($)
segment
Sep. 30, 2018
AUD ($)
Sep. 30, 2018
USD ($)
$ / shares
Sep. 30, 2018
CAD ($)
Sep. 30, 2017
USD ($)
Oct. 01, 2019
USD ($)
Oct. 01, 2018
USD ($)
Nov. 16, 2017
USD ($)
Nov. 15, 2017
USD ($)
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Number of Reportable Segments | segment 3 3                
Number of operating segments | segment 3 3                
Environmental exit costs, costs accrued to date       $ 5,700,000            
Cash in non U.S. bank accounts $ 34,200,000     24,900,000            
Fair value of insurance contracts 3,408,000                  
Proceeds from sale of trading securities 4,126,000                  
Contracts revenue $ 2,209,289,000 $ 3,500   $ 1,977,918,000 $ 700 $ 1,524,997,000        
Contracts weighted average rate price (in Dollars per share) | $ / shares $ 1.32     $ 1.29            
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax $ (8,460,000)     $ 9,403,000            
Foreign currency transaction gain (loss), realized (14,000)     (7,000)            
Defined benefit plan, fair value of plan assets 145,319,000     150,634,000            
Income (loss) from operations 135,265,000     92,801,000   67,034,000        
Customer program reserves and cash discounts netted against accounts receivable 17,322,000     15,530,000            
Costs in excess of billings, noncurrent 13,100,000     29,500,000            
Contract with Customer, Asset, Allowance for Credit Loss 0     400,000            
Depreciation, depletion and amortization, nonproduction 51,926,000     46,733,000   41,220,000        
Accumulated capitalized interest costs 2,925,000     2,896,000   4,891,000        
Original cost of fully depreciated property plant and equipment $ 229,456,000                  
Description of fair value calculation Griffon used five year projections and a 3.0% terminal value to which discount rates between 9% and 10% were applied to calculate each unit’s fair value. Griffon used five year projections and a 3.0% terminal value to which discount rates between 9% and 10% were applied to calculate each unit’s fair value.                
Fair value projections 5 years 5 years                
Fair value terminal value 3.00% 3.00%                
Goodwill, impairment loss $ 0     0   0        
Unrecognized tax benefits 4,061,000     4,519,000   4,825,000        
Research and development arrangement, contract to perform for others, costs incurred, gross 15,400,000     15,400,000   17,700,000        
Assets 2,074,939,000     2,084,890,000   $ 1,873,541,000   $ 2,085,933,000    
Accumulated other comprehensive loss $ (65,916,000)     $ (34,112,000)            
U.S. Federal income tax provision (benefit) rate 21.00% 21.00% 24.50% 24.50% 24.50% 35.00%        
Selling, general and administrative expenses $ 460,004,000     $ 436,380,000   $ 341,092,000        
Provisional income tax (expense) benefit $ 13,100,000     (20,587,000)            
Revenue, Performance Obligation Satisfied At A Point In Time, Percentage 80.00% 80.00%                
Revenue, Performance Obligation Satisfied Over In Time, Percentage 20.00% 20.00%                
Liabilities $ 1,597,176,000     1,610,499,000       1,617,160,000    
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Income Tax Expense 12,699,000                  
Other Income [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Trading securities, realized loss 1,251,000                  
Selling, general and administrative expenses [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Depreciation $ 19,026,000     $ 16,306,000   12,995,000        
U.S. Government [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Percentage of consolidated accounts receivable 8.00% 8.00%                
Home Depot [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Percentage of consolidated accounts receivable 12.00% 12.00%                
Designated as hedging instrument [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Contracts revenue $ 14,000,000   $ 12,000              
Contracts weighted average rate price (in Dollars per share) | $ / shares $ 1.48     $ 1.38            
Accumulated other comprehensive income (loss), foreign currency translation adjustment, before tax $ 327,000     $ 443,000            
Accumulated other comprehensive income (loss), foreign currency translation adjustment, net of tax 213,000     288,000            
Gain (loss) on hedging activity 1,932,000     657,000            
Level 2 [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Defined benefit plan, fair value of plan assets 32,297,000     68,114,000            
Level 2 [Member] | Estimate of fair value measurement [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Trading securities 2,754,000     2,644,000            
Level 2 [Member] | Portion at other than fair value measurement [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Trading securities 2,233,000     2,086,000            
Senior notes [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Long-term debt, fair value $ 1,010,000,000                  
Maximum [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Maturity period of highly liquid investments 3 months 3 months                
Contracts expiration days 90 days 90 days                
Fair value discount rates 9.50% 9.50%                
Finite-lived intangible asset, useful life 25 years 25 years                
Maximum [Member] | Building and building improvements [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Property, plant and equipment, useful life 40 years 40 years                
Maximum [Member] | Machinery and equipment [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Property, plant and equipment, useful life 15 years 15 years                
Minimum [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Contracts expiration days 1 day 1 day                
Fair value discount rates 7.00% 7.00%                
Finite-lived intangible asset, useful life 8 years 8 years                
Minimum [Member] | Building and building improvements [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Property, plant and equipment, useful life 25 years 25 years                
Minimum [Member] | Machinery and equipment [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Property, plant and equipment, useful life 2 years 2 years                
Canadian Dollar Forward Contracts [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Other Income [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Gain (loss) on sale of derivatives $ 68,000     (161,000)            
Canadian Dollar Forward Contracts [Member] | Maximum [Member] | Not Designated as Hedging Instrument [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Foreign currency contracts duration 360 days 360 days                
Canadian Dollar Forward Contracts [Member] | Minimum [Member] | Not Designated as Hedging Instrument [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Foreign currency contracts duration 30 days 30 days                
New Accounting Pronouncement, Early Adoption, Effect [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Share-based compensation, excess tax benefit, amount $ 304,000     1,299,000   4,440,000        
Accounting Standards Update 2014-09 [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Cumulative catch-up adjustment related to adoption of ASC 606 [1]               5,618,000    
Discontinued Operations, Held-for-sale [Member] | Plastics [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Disposal group, including discontinued operation, consideration                 $ 465,000,000 $ 465,000,000
Foreign currency translation adjustments [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Accumulated other comprehensive loss (31,284,000)     (22,824,000)            
Retained Earnings [Member] | Accounting Standards Update 2014-09 [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Cumulative catch-up adjustment related to adoption of ASC 606 [1]               $ 5,618,000    
Shipping and Handling [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Selling, general and administrative expenses 66,400,000     59,600,000   32,500,000        
Advertising [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Selling, general and administrative expenses $ 20,000,000     $ 21,000,000   $ 22,000,000        
Forecast [Member] | Accounting Standards Update 2016-02 [Member] | Maximum [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Assets             $ 170,000,000      
Liabilities             170,000      
Forecast [Member] | Accounting Standards Update 2016-02 [Member] | Minimum [Member]                    
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]                    
Assets             160,000,000      
Liabilities             $ 160,000      
[1] See Note 1 - Recently adopted accounting pronouncements and Note 2 - Revenue for additional information.