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REPORTABLE SEGMENTS
 12 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
REPORTABLE SEGMENTS REPORTABLE SEGMENTS
Griffon conducts its operations through two reportable segments, as follows:

•Consumer and Professional Products (“CPP”) is a leading North American manufacturer and a global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid.

•Home and Building Products ("HBP") conducts its operations through Clopay. Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America.  Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the Cornell and Cookson brands.

Information on Griffon’s reportable segments from continuing operations is as follows:
 For the Years Ended September 30,
REVENUE202220212020
   
Consumer and Professional Products$1,341,606 $1,229,518 $1,139,233 
Home and Building Products1,506,882 1,041,108 927,313 
Total revenue$2,848,488 $2,270,626 $2,066,546 

Griffon evaluates performance and allocates resources based on each segment's operating results from continuing operations before interest income and expense, income taxes, depreciation and amortization, unallocated amounts (primarily corporate overhead), non-cash impairment charges, restructuring charges, debt extinguishment and acquisition related expenses, as well as other items that may affect comparability, as applicable (“Segment Adjusted EBITDA”).
The following table provides a reconciliation of Segment Adjusted EBITDA to Income (loss) before taxes from continuing operations:
 For the Years Ended September 30,
 202220212020
Segment Adjusted EBITDA:   
Consumer and Professional Products$99,308 $115,673 $104,053 
Home and Building Products412,738 181,015 153,631 
Segment Adjusted EBITDA512,046 296,688 257,684 
Unallocated amounts, excluding depreciation(53,888)(50,278)(49,487)
Adjusted EBITDA458,158 246,410 208,197 
Net interest expense(84,164)(62,735)(65,795)
Depreciation and amortization(64,658)(52,302)(52,100)
Goodwill and intangible impairments(517,027)— — 
Restructuring charges(16,782)(21,418)(13,669)
Debt Extinguishment, net(4,529)— (7,925)
Acquisition contingent consideration— — 1,733 
Acquisition costs(9,303)— (2,960)
Strategic review - retention and other(9,683)— — 
Special dividend ESOP charges(10,538)— — 
Proxy expenses(6,952)— — 
Fair value step-up of acquired inventory sold(5,401)— — 
Income (loss) before taxes from continuing operations$(270,879)$109,955 $67,481 
For the Years Ended September 30,
DEPRECIATION and AMORTIZATION202220212020
Segment:   
Consumer and Professional Products$47,562 $34,433 $32,788 
Home and Building Products16,539 17,370 18,361 
Total segment depreciation and amortization64,101 51,803 51,149 
Corporate557 499 951 
Total consolidated depreciation and amortization$64,658 $52,302 $52,100 
CAPITAL EXPENDITURES   
Segment:   
Consumer and Professional Products$31,279 $28,265 $23,321 
Home and Building Products11,029 8,648 17,499 
Total segment42,308 36,913 40,820 
Corporate180 38 348 
Total consolidated capital expenditures$42,488 $36,951 $41,168 
ASSETS
At September 30, 2022At September 30, 2021
Segment assets:  
Consumer and Professional Products$1,914,529 $1,377,618 
Home and Building Products737,860 666,422 
Total segment assets2,652,389 2,044,040 
Corporate158,310 280,802 
Total continuing assets2,810,699 2,324,842 
Discontinued operations - held for sale— 275,814 
Other discontinued operations5,775 4,029 
Consolidated total$2,816,474 $2,604,685 
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 Years Ended September 30,
202220212020
Residential repair and remodel$392,490 $185,896 $173,859 
Retail456,735 577,839 575,947 
Residential new construction45,243 50,437 59,907 
Industrial76,430 43,411 40,285 
International excluding North America370,708 371,935 289,235 
Total Consumer and Professional Products1,341,606 1,229,518 1,139,233 
Residential repair and remodel736,525 516,995 467,112 
Commercial construction630,066 407,585 354,916 
Residential new construction140,291 116,528 105,285 
Total Home and Building Products1,506,882 1,041,108 927,313 
Total Revenue$2,848,488 $2,270,626 $2,066,546 

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

For the Year Ended September 30, 2022
Revenue by Geographic Area - DestinationConsumer and Professional ProductsHome and Building ProductsTotal
United States$858,956 $1,437,085 $2,296,041 
Europe106,471 60 106,531 
Canada92,930 57,916 150,846 
Australia258,945 — 258,945 
All other countries24,304 11,821 36,125 
Total Revenue$1,341,606 $1,506,882 $2,848,488 

For the Year Ended September 30, 2021
Revenue by Geographic Area - DestinationConsumer and Professional ProductsHome and Building ProductsTotal
United States$766,150$986,925$1,753,075
Europe123,60772123,679
Canada85,67644,661130,337
Australia244,674—244,674
All other countries9,4119,45018,861
Total Revenue$1,229,518$1,041,108$2,270,626
For the Year Ended September 30, 2020
Revenue by Geographic Area - DestinationConsumer and Professional ProductsHome and Building ProductsTotal
United States$769,100 $877,115 $1,646,215 
Europe85,339 130 85,469 
Canada74,072 38,662 112,734 
Australia203,012 — 203,012 
All other countries7,710 11,406 19,116 
Total Revenue$1,139,233 $927,313 $2,066,546 

As a percentage of segment revenue, CPP sales to The Home Depot approximated 19%, 26% and 27% in 2022, 2021 and 2020, respectively; HBP sales to The Home Depot approximated 7%, 10% and 12% in 2022, 2021 and 2020, respectively.

As a percentage of Griffon's consolidated revenue, CPP sales to The Home Depot approximated 13%, 14% and 13% in 2022, 2021 and 2020, respectively; HBP sales to The Home Depot approximated 7% in 2022 and 5% in both 2021 and 2020.