GOODWILL AND OTHER INTANGIBLES

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES

Indicators of impairment were not present for any of Griffon's reporting units during the three months ended December 31, 2023. The following table provides a summary of the carrying value of goodwill by segment as of September 30, 2023 and December 31, 2023, as follows:

Consumer and Professional Products	$	136,611
Home and Building Products	191,253
Total	$	327,864

The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets:

	At December 31, 2023					At September 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	449,373	$	119,571	23	$	443,164	$	113,057
Technology and patents	15,734		3,951		13	15,504		3,815
Total amortizable intangible assets	465,107		123,522			458,668		116,872
Trademarks	290,526		—			293,447		—
Total intangible assets	$	755,633	$	123,522		$	752,115	$	116,872

The gross carrying amount of intangible assets was impacted by $3,518 related to favorable foreign currency translation.

Amortization expense for intangible assets was $5,556 and $5,624 for the quarters ended December 31, 2023 and 2022, respectively. Amortization expense for the remainder of 2024 and the next five fiscal years and thereafter, based on current intangible balances and classifications, is estimated as follows: remaining in 2024 - $15,798; 2025 - $21,354; 2026 - $21,354; 2027 - $21,354; 2028 - $21,354; 2029 - $21,354; thereafter $219,017.