WARRANTY LIABILITY

6 Months Ended

Mar. 31, 2022

Product Warranties Disclosures [Abstract]

WARRANTY LIABILITY

WARRANTY LIABILITY

CPP and HBP offer warranties against product defects for periods generally ranging from one to ten years, with limited lifetime warranties on certain door and fan models. Typical warranties require CPP and HBP to repair or replace the defective products during the warranty period at no cost to the customer. At the time revenue is recognized, Griffon records a liability for warranty costs, estimated based on historical experience, and periodically assesses its warranty obligations and adjusts the liability as necessary. CPP offers an express limited warranty for a period of ninety days on all products from the date of original purchase unless otherwise stated on the product or packaging from the date of original purchase.

Changes in Griffon’s warranty liability, included in Accrued liabilities, were as follows:

	Three Months Ended March 31,				Six Months Ended March 31,
	2022		2021		2022		2021
Balance, beginning of period	$	9,572	$	6,232	$	7,818	$	6,268
Warranties issued and changes in estimated pre-existing warranties	5,788		4,933		9,249		8,509
Actual warranty costs incurred	(3,755)		(3,245)		(5,462)		(6,857)
Other warranty liabilities assumed from acquisitions	6,353		—		6,353		—
Balance, end of period	$	17,958	$	7,920	$	17,958	$	7,920