BUSINESS SEGMENTS (Tables)

6 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Summary of Reportable Segments from Continuing Operations

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

	For the Three Months Ended March 31,				For the Six Months Ended March 31,
REVENUE	2023		2022		2023		2022
Consumer and Professional Products	$	314,325	$	411,012	$	567,136	$	694,185
Home and Building Products	396,659		368,605		793,232		677,181
Total revenue	$	710,984	$	779,617	$	1,360,368	$	1,371,366

The following table provides a reconciliation of Segment adjusted EBITDA to Income (loss) before taxes from continuing operations:

	For the Three Months Ended March 31,				For the Six Months Ended March 31,
	2023		2022		2023		2022
Segment adjusted EBITDA:
Consumer and Professional Products	$	19,635	$	47,844	$	17,826	$	64,058
Home and Building Products	131,871		104,474		256,016		160,771
Segment adjusted EBITDA	151,506		152,318		273,842		224,829
Unallocated amounts, excluding depreciation *	(14,630)		(13,056)		(28,406)		(26,319)
Adjusted EBITDA	136,876		139,262		245,436		198,510
Net interest expense	(24,643)		(21,376)		(49,187)		(37,024)
Depreciation and amortization	(17,254)		(16,252)		(34,367)		(29,333)
Gain on sale of building	—		—		10,852		—
Strategic review - retention and other	(6,190)		—		(14,422)		—
Proxy expenses	(614)		(4,661)		(2,117)		(6,952)
Acquisition costs	—		(6,708)		—		(9,303)
Restructuring charges	(78,334)		(4,766)		(78,334)		(6,482)
Intangible asset impairment	(100,000)		—		(100,000)		—
Fair value step-up of acquired inventory sold	—		(2,701)		—		(2,701)
Income (loss) before taxes from continuing operations	$	(90,159)	$	82,798	$	(22,139)	$	106,715

* Unallocated amounts typically include general corporate expenses not attributable to a reportable segment.

	For the Three Months Ended March 31,				For the Six Months Ended March 31,
DEPRECIATION and AMORTIZATION	2023		2022		2023		2022
Segment:
Consumer and Professional Products	$	13,303	$	11,791	$	26,430	$	20,397
Home and Building Products	3,811		4,324		7,657		8,662
Total segment depreciation and amortization	17,114		16,115		34,087		29,059
Corporate	140		137		280		274
Total consolidated depreciation and amortization	$	17,254	$	16,252	$	34,367	$	29,333
CAPITAL EXPENDITURES
Segment:
Consumer and Professional Products	$	3,474	$	9,054	$	6,132	$	16,184
Home and Building Products	3,605		2,403		5,673		5,752
Total segment	7,079		11,457		11,805		21,936
Corporate	32		—		32		94
Total consolidated capital expenditures	$	7,111	$	11,457	$	11,837	$	22,030

ASSETS	At March 31, 2023		At September 30, 2022
Segment assets:
Consumer and Professional Products	$	1,788,097	$	1,914,529
Home and Building Products	688,982		737,860
Total segment assets	2,477,079		2,652,389
Corporate	177,885		158,310
Total continuing assets	2,654,964		2,810,699
Discontinued operations	5,192		5,775
Consolidated total	$	2,660,156	$	2,816,474

Summary of Disaggregation of Revenue by End Market and Segment

The following table presents revenue disaggregated by end market and segment:

	For the Three Months Ended March 31,				For the Six Months Ended March 31,
	2023		2022		2023		2022
Residential repair and remodel	$	103,403	$	114,631	$	185,109	$	153,390
Retail	97,903		152,683		166,400		282,918
Residential new construction	11,698		12,019		24,185		22,346
Industrial	19,083		21,068		36,176		32,374
International excluding North America	82,238		110,611		155,266		203,157
Total Consumer and Professional Products	314,325		411,012		567,136		694,185
Residential repair and remodel	185,149		172,377		375,879		317,462
Commercial construction	176,243		157,376		345,757		288,165
Residential new construction	35,267		38,852		71,596		71,554
Total Home and Building Products	396,659		368,605		793,232		677,181
Total Consolidated Revenue	$	710,984	$	779,617	$	1,360,368	$	1,371,366

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

	For the Three Months Ended March 31,
	2023						2022
	CPP		HBP		Total		CPP		HBP		Total
United States	$	212,385	$	378,341	$	590,726	$	264,747	$	352,809	$	617,556
Europe	19,070		—		19,070		46,783		7		46,790
Canada	21,570		15,406		36,976		31,029		13,878		44,907
Australia	56,585		—		56,585		62,188		—		62,188
All other countries	4,715		2,912		7,627		6,265		1,911		8,176
Consolidated revenue	$	314,325	$	396,659	$	710,984	$	411,012	$	368,605	$	779,617