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BUSINESS SEGMENTS (Tables)

3 Months Ended

Dec. 31, 2023

Schedule of Reportable Segments from Continuing Operations

Information on Griffon’s reportable segments is as follows:


	For the Three Months Ended December 31,
REVENUE		2023		2022
Home and Building Products		$	395,791	$	396,573
Consumer and Professional Products		247,362		252,811
Total revenue		$	643,153	$	649,384

The following table provides a reconciliation of segment and adjusted EBITDA to income before taxes:


	For the Three Months Ended December 31,
		2023		2022
Segment adjusted EBITDA:
Home and Building Products		$	124,719	$	124,145
Consumer and Professional Products		5,539		(1,809)



Segment adjusted EBITDA		130,258		122,336
Unallocated amounts, excluding depreciation *		(13,907)		(13,776)
Adjusted EBITDA		116,351		108,560
Net interest expense		(24,875)		(24,544)
Depreciation and amortization		(14,823)		(17,113)


Restructuring charges		(12,400)		—
Gain on sale of building		547		10,852
Strategic review - retention and other		(4,658)		(8,232)
Proxy expenses		—		(1,503)




Income before taxes		$	60,142	$	68,020

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


	For the Three Months Ended December 31,
DEPRECIATION and AMORTIZATION		2023		2022
Segment:
Home and Building Products		$	3,633	$	3,846
Consumer and Professional Products		11,057		13,127



Total segment depreciation and amortization		14,690		16,973
Corporate		133		140
Total consolidated depreciation and amortization		$	14,823	$	17,113

CAPITAL EXPENDITURES
Segment:
Home and Building Products		$	10,508	$	2,068
Consumer and Professional Products		3,749		2,658



Total segment		14,257		4,726
Corporate		73		—
Total consolidated capital expenditures		$	14,330	$	4,726


ASSETS	At December 31, 2023		At September 30, 2023
Segment assets:
Home and Building Products	$	694,151	$	703,661
Consumer and Professional Products(1)	1,573,506		1,579,588

Total segment assets	2,267,657		2,283,249
Corporate	120,534		130,339
Total assets	2,388,191		2,413,588

Discontinued operations	5,122		5,291
Consolidated total	$	2,393,313	$	2,418,879

___________________

(1) In connection with the expansion of CPP's global sourcing strategy, certain owned manufacturing locations which ceased operations have met the criteria to be classified as held for sale as of December 31, 2023. The net book value of these properties as of December 31, 2023 totaled $15,010.

Schedule of Disaggregation of Revenue by End Market and Segment

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


	Three Months Ended December 31,
		2023		2022
Residential repair and remodel		$	186,541	$	190,730
Commercial		176,993		169,514
Residential new construction		32,257		36,329
Total Home and Building Products		395,791		396,573
Residential repair and remodel		76,064		81,706
Retail		69,278		68,497
Residential new construction		14,005		12,487
Industrial		14,777		17,093
International excluding North America		73,238		73,028
Total Consumer and Professional Products		247,362		252,811








Total Consolidated Revenue		$	643,153	$	649,384

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



	For the Three Months Ended December 31,
	2023						2022
	HBP		CPP		Total			HBP		CPP		Total
United States	$	379,628	$	151,172	$	530,800		$	379,300	$	153,667	$	532,967
Europe	108		5,245		5,353			16		4,696		4,712
Canada	14,768		21,028		35,796			15,355		23,116		38,471
Australia	—		64,871		64,871			—		66,217		66,217
All other countries	1,287		5,046		6,333			1,902		5,115		7,017
Consolidated revenue	$	395,791	$	247,362	$	643,153		$	396,573	$	252,811	$	649,384