DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Jun. 30, 2022

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 a discontinued operation:

	For the Three Months Ended June 30,				For the Nine Months Ended June 30,
	2022		2021		2022		2021
Revenue	$	50,795	$	62,574	$	161,061	$	190,492
Cost of goods and services	39,059		52,780		125,208		166,292
Gross profit	11,736		9,794		35,853		24,200
Selling, general and administrative expenses	6,114		7,875		26,423		27,102
Income (loss) from discontinued operations	5,622		1,919		9,430		(2,902)
Other income (expense)
Interest income, net	—		—		2		1
Gain on sale of business	108,949		—		108,949		5,291
Other, net	(1,114)		261		(604)		1,166
Total other income (expense)	107,835		261		108,347		6,458
Income from discontinued operations before taxes	$	113,457	$	2,180	$	117,777	$	3,556
Provision (benefit) for income taxes	25,952		288		20,149		(2,085)
Income from discontinued operations	$	87,505	$	1,892	$	97,628	$	5,641

The following amounts related to Telephonics that were classified as assets and liabilities of discontinued operations held for sale in the consolidated balance sheet as of September 30, 2021:

	At September 30,
	2021
CURRENT ASSETS
Accounts receivable, net	$	42,020
Contract assets, net of progress payments	72,983
Inventories	83,970
Prepaid and other current assets	4,409
PROPERTY, PLANT AND EQUIPMENT, net	47,771
OPERATING LEASE RIGHT-OF-USE ASSETS	1,167
GOODWILL	17,734
INTANGIBLE ASSETS, net	131
OTHER ASSETS	5,629
Total Assets	$	275,814
CURRENT LIABILITIES
Accounts payable	60,588
Accrued liabilities	15,326
Current portion of operating lease liabilities	287
LONG-TERM OPERATING LEASE LIABILITIES	867
OTHER LIABILITIES	3,955
Total Liabilities	$	81,023

The following amounts summarize the total assets and liabilities related to Telephonics, 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 Condensed Consolidated Balance Sheets:

	At June 30, 2022		At September 30, 2021
Assets of discontinued operations:
Prepaid and other current assets	$	487	$	605
Other long-term assets	2,623		3,424
Total assets of discontinued operations	$	3,110	$	4,029
Liabilities of discontinued operations:
Accrued liabilities, current	$	30,806	$	3,280
Other long-term liabilities	3,825		3,794
Total liabilities of discontinued operations	$	34,631	$	7,074