RESTRUCTURING AND OTHER RELATED CHARGES

9 Months Ended

Jun. 30, 2012

Restructuring and Related Activities Disclosure [Text Block]

NOTE 16 – RESTRUCTURING AND OTHER RELATED CHARGES

In June 2009, Griffon announced plans to consolidate facilities in CBP. These actions were completed in 2011, consistent with the plan. In completing the consolidation plan, CBP incurred total pre-tax exit and restructuring costs approximating $9,031, substantially all of which was cash charges; charges include $1,160 for one-time termination benefits and other personnel costs, $210 for excess facilities and related costs, and $7,661 for other exit costs, primarily in connection with production realignment, and had $10,365 of capital expenditures. The restructuring costs in the three and nine months ended June 30, 2011 were $955 and $3,437, respectively.

ATT recognized nil and $273, respectively, for the three and nine months ended June 30, 2012, and $560 and $683, respectively, for the three and nine months ended June 30, 2011, in restructuring and other related charges, primarily related to a facility and related one-time termination costs.

In the first quarter of 2012, Telephonics recognized $1,522 of restructuring and other related charges, primarily for one-time termination benefits and other personnel costs in conjunction with changes to its organizational structure. In the prior year quarter, Telephonics recognized $603 of restructuring and other related charges related to costs incurred in connection with the consolidation of the management of its Electronic Systems and Communications Systems operating units; such charges were all personnel related.

A summary of the restructuring and other related charges included in the line item “Restructuring and other related charges” in the Consolidated Statements of Operations recognized was as follows:

	Workforce Reduction		Facilities & Exit Costs		Other Related Costs		Total
Amounts incurred in:
Quarter ended December 31, 2010	$	239	$	791	$	363	$	1,393
Quarter ended March 31, 2011		61		470		681		1,212
Quarter ended June 30, 2011		1,134		450		534		2,118
Nine months ended June 30, 2011	$	1,434	$	1,711	$	1,578	$	4,723
Quarter ended December 31, 2011	$	1,538	$	257	$	—	$	1,795
Quarter ended March 31, 2012		—		—		—		—
Quarter ended June 30, 2012		—		—		—		—
Nine months ended June 30, 2012	$	1,538	$	257	$	—	$	1,795

At June 30, 2012, the accrued liability for the restructuring and related charges consisted of:

	Workforce Reduction			Facilities & Exit Costs			Other Related Costs		Total
Accrued liability at September 30, 2011	$	2,657		$	—		$	—	$	2,657
Charges		1,538			257			—		1,795
Payments		(3,205	)		(235	)		—		(3,440	)
Accrued liability at June 30, 2012	$	990		$	22		$	—	$	1,012