DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Sep. 30, 2021

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 Telephonics have been segregated from Griffon's continuing operations and are reported as discontinued operations:

	For the Year Ended September 30,
	2021		2020		2019
Revenue	$	271,060	$	340,976	$	335,041
Cost of goods and services	232,075		285,022		269,890
Gross profit	38,985		55,954		65,151
Selling, general and administrative expenses	35,532		42,314		39,194
Income from discontinued operations	3,453		13,640		25,957
Other income (expense)
Gain on sale of business	5,291		—		—
Interest income, net	117		4		253
Other, net	36		408		(255)
Total other income (expense)	5,444		412		(2)
Income from discontinued operations before tax	$	8,897	$	14,052	$	25,955

The following amounts related to Telephonics 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 sheets:

	At September 30,		At September 30,
	2021		2020
CURRENT ASSETS
Accounts receivable, net	42,020		62,127
Contract assets, net of progress payments	72,983		84,426
Inventories	83,970		93,637
Prepaid and other current assets	4,409		5,536
PROPERTY, PLANT AND EQUIPMENT, net	45,371		46,880
OPERATING LEASE RIGHT-OF-USE ASSETS	1,167		7,278
GOODWILL	17,734		18,545
INTANGIBLE ASSETS, net	131		826
OTHER ASSETS	5,629		6,423
Total Assets Held for Sale	$	273,414	$	325,678
CURRENT LIABILITIES
Accounts payable	60,486		59,724
Accrued liabilities	15,153		20,023
Current portion of operating lease liabilities	287		2,176
LONG-TERM OPERATING LEASE LIABILITIES	867		5,466
OTHER LIABILITIES	3,955		4,972
Total Liabilities Held for Sale	$	80,748	$	92,361

The following amounts summarize the total assets and liabilities of Installation Services and other discontinued activities which have been segregated from Griffon’s continuing operations and are reported as assets and liabilities of discontinued operations in the consolidated balance sheets:

	At September 30, 2021		At September 30, 2020
Assets of discontinued operations:
Prepaid and other current assets	$	605	$	2,091
Other long-term assets	3,424		6,406
Total assets of discontinued operations	$	4,029	$	8,497
Liabilities of discontinued operations:
Accrued liabilities, current	$	3,280	$	3,797
Other long-term liabilities	3,794		7,014
Total liabilities of discontinued operations	$	7,074	$	10,811