GOODWILL AND OTHER INTANGIBLES

9 Months Ended

Jun. 30, 2011

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 6 – GOODWILL AND OTHER INTANGIBLES

The following table provides the changes in carrying value of goodwill by segment during the nine months ended June 30, 2011.

	At September 30, 2010		Other adjustments including currency translations		At June 30, 2011
Home & Building Products**	$	259,930	$	—	$	259,930
Telephonics		18,545		—		18,545
Plastics		77,612		5,489		83,101
Total	$	356,087	$	5,489	$	361,576

** As adjusted, see Acquisition note.
The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets:

	At June 30, 2011						At September 30, 2010
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	160,096	$	12,556		25	$	155,798	$	6,477
Unpatented technology		7,348		1,845		12		8,154		1,144
Total amortizable intangible assets		167,444		14,401				163,952		7,621
Trademarks		77,547		—				76,680		—
Total intangible assets	$	244,991	$	14,401			$	240,632	$	7,621

Amortization expense for intangible assets subject to amortization was $1,987 and $481 for the quarters ended June 30, 2011 and 2010, respectively, and $5,905 and $1,506 for the nine-month periods ended June 30, 2011 and 2010, respectively.

During the 2011 first quarter, Griffon reduced the carrying value of unpatented technology, and the related accrual, by approximately $1,400 due to the expiration of contingency agreements for certain past acquisitions.

No event or indicator of impairment occurred during the nine months ended June 30, 2011, which would require impairment testing of long-lived intangible assets including goodwill.