XML 57 R44.htm IDEA: XBRL DOCUMENT

REPORTABLE SEGMENTS (Tables)

12 Months Ended

Sep. 30, 2021

Schedule of Segment Reporting Information, by Segment

Information on Griffon’s reportable segments from continuing operations is as follows:


	For the Years Ended September 30,
REVENUE	2021		2020		2019

Consumer and Professional Products	$	1,229,518	$	1,139,233	$	1,000,608
Home and Building Products	1,041,108		927,313		873,640
Defense Electronics	271,060		340,976		$	335,041
Subtotal	$	2,541,686	$	2,407,522	$	2,209,289
Less: Defense Electronics	(271,060)		(340,976)		(335,041)
Total revenue	$	2,270,626	$	2,066,546	$	1,874,248

The following table provides a reconciliation of Segment Adjusted EBITDA to Income before taxes from continuing operations:


	For the Years Ended September 30,
	2021		2020		2019
Segment Adjusted EBITDA:
Consumer and Professional Products	$	115,673	$	104,053	$	90,677
Home and Building Products	181,015		153,631		120,161
Defense Electronics	20,486		25,228		35,104

Subtotal	317,174		282,912		245,942
Less: Defense Electronics	(20,486)		(25,228)		(35,104)
Segment Adjusted EBITDA	296,688		257,684		210,838
Unallocated amounts, excluding depreciation	(49,054)		(48,262)		(47,231)
Adjusted EBITDA	247,634		209,422		163,607
Net interest expense	(62,735)		(65,795)		(67,513)
Depreciation and amortization	(52,302)		(52,100)		(51,517)

Restructuring charges	(21,418)		(13,670)		—
Loss from debt extinguishment	—		(7,925)		—
Acquisition contingent consideration	—		1,733		1,646
Acquisition costs	—		(2,960)		—



Income before taxes from continuing operations	$	111,179	$	68,705	$	46,223

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	For the Years Ended September 30,
DEPRECIATION and AMORTIZATION	2021		2020		2019
Segment:
Consumer and Professional Products	$	34,433	$	32,788	$	32,289
Home and Building Products	17,370		18,361		18,334
Defense Electronics	10,762		10,645		10,667
Subtotal	62,565		61,794		61,290
Less: Defense Electronics	(10,762)		(10,645)		(10,667)
Total segment depreciation and amortization	51,803		51,149		50,623
Corporate	499		951		894
Total consolidated depreciation and amortization	$	52,302	$	52,100	$	51,517

CAPITAL EXPENDITURES
Segment:
Consumer and Professional Products	$	28,265	$	23,321	$	17,828
Home and Building Products	8,648		17,499		16,498
Defense Electronics	10,343		7,830		10,492

Subtotal	47,256		48,650		44,818
Less: Defense Electronics	(10,343)		(7,830)		(10,492)
Total segment	36,913		40,820		34,326
Corporate	38		348		543
Total consolidated capital expenditures	$	36,951	$	41,168	$	34,869


ASSETS	At September 30, 2021		At September 30, 2020
Segment assets:
Consumer and Professional Products	$	1,377,618	$	1,255,127
Home and Building Products	666,422		606,785


Total segment assets	2,044,040		1,861,912
Corporate	283,202		252,506
Total continuing assets	2,327,242		2,114,418
Discontinued operations - held for sale	273,414		325,678
Other discontinued operations	4,029		8,497
Consolidated total	$	2,604,685	$	2,448,593

Disaggregation of Revenue

Revenue from contracts with customers is disaggregated by end markets, segments and geographic location, as it more accurately depicts the nature and amount of the Company’s revenue.


	For the Year Ended September 30, 2021		For the Year Ended September 30, 2020		For the Year Ended September 30, 2019
Residential repair and remodel	$	185,896	$	173,859	$	140,369
Retail	577,839		575,947		528,279

Residential new construction	50,437		59,907		58,709
Industrial	43,411		40,285		45,129
International excluding North America	371,935		289,235		228,122
Total Consumer and Professional Products	1,229,518		1,139,233		1,000,608
Residential repair and remodel	516,995		467,112		439,287
Commercial construction	407,585		354,916		335,339
Residential new construction	116,528		105,285		99,014
Total Home and Building Products	1,041,108		927,313		873,640




Total Revenue	$	2,270,626	$	2,066,546	$	1,874,248

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


	For the Year Ended September 30, 2021
Revenue by Geographic Area - Destination	Consumer and Professional Products		Home and Building Products		Total
United States	$	766,150	$	986,925	$	1,753,075
Europe	123,607		72		123,679
Canada	85,676		44,661		130,337
Australia	244,674		—		244,674
All other countries	9,411		9,450		18,861
Total Revenue	$	1,229,518	$	1,041,108	$	2,270,626


	For the Year Ended September 30, 2020
Revenue by Geographic Area - Destination	Consumer and Professional Products	Home and Building Products	Total
United States	$769,100	$877,115	$1,646,215
Europe	85,339	130	85,469
Canada	74,072	38,662	112,734
Australia	203,012	—	203,012
All other countries	7,710	11,406	19,116
Total Revenue	$1,139,233	$927,313	$2,066,546


	For the Year Ended September 30, 2019
Revenue by Geographic Area - Destination	Consumer and Professional Products		Home and Building Products		Total
United States	$	690,772	$	820,396	$	1,511,168
Europe	63,284		109		63,393
Canada	72,327		39,472		111,799
Australia	165,291		16		165,307
All other countries	8,934		13,647		22,581
Total Revenue	$	1,000,608	$	873,640	$	1,874,248