BUSINESS SEGMENTS (Tables)

6 Months Ended

Mar. 31, 2021

Information on Griffon’s reportable segments is as follows:


	For the Three Months Ended March 31,				For the Six Months Ended March 31,
REVENUE	2021		2020		2021		2020
Consumer and Professional Products	$	331,871	$	274,912	$	622,913	$	515,988
Home and Building Products	242,811		209,829		493,292		451,210
Defense Electronics	60,150		81,609		127,918		147,590
Total consolidated net sales	$	634,832	$	566,350	$	1,244,123	$	1,114,788

The following table provides a reconciliation of Segment adjusted EBITDA to Income before taxes:


	For the Three Months Ended March 31,				For the Six Months Ended March 31,
	2021		2020		2021		2020
Segment adjusted EBITDA:
Consumer and Professional Products	$	37,423	$	25,027	$	70,136	$	46,953
Home and Building Products	40,060		30,635		88,429		71,336
Defense Electronics	2,220		4,248		7,805		8,723
Segment adjusted EBITDA	79,703		59,910		166,370		127,012
Unallocated amounts, excluding depreciation *	(11,922)		(11,947)		(23,949)		(23,889)
Adjusted EBITDA	67,781		47,963		142,421		103,123
Net interest expense	(15,527)		(16,561)		(31,172)		(32,511)
Depreciation and amortization	(15,883)		(15,719)		(31,149)		(31,544)

Loss from debt extinguishment	—		(6,690)		—		(6,690)
Restructuring charges	(7,562)		(3,104)		(18,362)		(9,538)
Acquisition costs	—		(2,960)		—		(2,960)
Gain (adjustment) on sale of SEG business	(949)		—		5,291		—


Income before taxes	$	27,860	$	2,929	$	67,029	$	19,880

* Unallocated amounts typically include general corporate expenses not attributable to a reportable segment.


	For the Three Months Ended March 31,				For the Six Months Ended March 31,
DEPRECIATION and AMORTIZATION	2021		2020		2021		2020
Segment:
Consumer and Professional Products	$	8,620	$	8,222	$	16,819	$	16,453
Home and Building Products	4,379		4,668		8,720		9,468
Defense Electronics	2,734		2,676		5,410		5,320
Total segment depreciation and amortization	15,733		15,566		30,949		31,241
Corporate	150		153		200		303
Total consolidated depreciation and amortization	$	15,883	$	15,719	$	31,149	$	31,544

CAPITAL EXPENDITURES
Segment:
Consumer and Professional Products	$	6,813	$	3,800	$	13,720	$	7,532
Home and Building Products	1,998		3,556		4,113		11,495
Defense Electronics	3,247		1,921		6,151		3,210
Total segment	12,058		9,277		23,984		22,237
Corporate	2		70		2		282
Total consolidated capital expenditures	$	12,060	$	9,347	$	23,986	$	22,519


ASSETS	At March 31, 2021		At September 30, 2020
Segment assets:
Consumer and Professional Products	$	1,408,545	$	1,255,127
Home and Building Products	604,325		606,785
Defense Electronics	288,019		329,128
Total segment assets	2,300,889		2,191,040
Corporate	216,571		248,902
Total continuing assets	2,517,460		2,439,942
Assets of discontinued operations	6,820		8,497
Consolidated total	$	2,524,280	$	2,448,439

The following table presents revenue disaggregated by end market and segment:


	For the Three Months Ended March 31,				For the Six Months Ended March 31,
	2021		2020		2021		2020
Residential repair and remodel	$	50,560	$	40,505	$	96,160	$	75,595
Retail	153,746		144,904		292,994		264,524
Residential new construction	14,540		14,884		28,055		29,857
Industrial	9,958		10,535		19,489		21,158
International excluding North America	103,067		64,084		186,215		124,854
Total Consumer and Professional Products	331,871		274,912		622,913		515,988
Residential repair and remodel	120,827		100,808		246,942		222,805
Commercial construction	94,751		86,300		190,690		178,187
Residential new construction	27,233		22,721		55,660		50,218
Total Home and Building Products	242,811		209,829		493,292		451,210
U.S. Government	35,045		53,623		82,369		96,324
International	21,497		25,021		38,392		43,554
Commercial	3,608		2,965		7,157		7,712
Total Defense Electronics	60,150		81,609		127,918		147,590
Total Consolidated Revenue	$	634,832	$	566,350	$	1,244,123	$	1,114,788

The following table presents revenue disaggregated by geography based on the location of the Company's customer:



	For the Three Months Ended March 31,
	2021								2020
	CPP		HBP		DE		Total		CPP		HBP		DE		Total
United States	$	205,368	$	230,955	$	34,166	$	470,489	$	191,412	$	199,060	$	55,071	$	445,543
Europe	38,965		41		5,791		44,797		24,737		5		9,880		34,622
Canada	21,778		9,797		1,925		33,500		17,515		7,867		4,209		29,591
Australia	63,691		—		122		63,813		39,032		—		189		39,221
All other countries	2,069		2,018		18,146		22,233		2,216		2,897		12,260		17,373
Consolidated revenue	$	331,871	$	242,811	$	60,150	$	634,832	$	274,912	$	209,829	$	81,609	$	566,350


	For the Six Months Ended March 31,
	2021								2020
	CPP		HBP		DE		Total		CPP		HBP		DE		Total
United States	$	388,810	$	467,486	$	81,544	$	937,840	$	351,570	$	426,010	$	101,214	$	878,794
Europe	52,121		41		12,696		64,858		31,342		28		15,865		47,235
Canada	43,893		21,285		3,754		68,932		35,296		19,120		6,783		61,199
Australia	133,231		—		441		133,672		93,260		—		795		94,055
All other countries	4,858		4,480		29,483		38,821		4,520		6,052		22,933		33,505
Consolidated revenue	$	622,913	$	493,292	$	127,918	$	1,244,123	$	515,988	$	451,210	$	147,590	$	1,114,788