GFF Griffon Corporation

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About Griffon Corporation

 

Griffon Corporation (the “Company”, “Griffon”, "we" or "us") is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities, as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital.

The Company was founded in 1959, is a Delaware corporation headquartered in New York, N.Y. and is listed on the New York Stock Exchange (NYSE:GFF).

Griffon conducts its operations through two reportable segments:

•Home and Building Products ("HBP") conducts its operations through Clopay Corporation ("Clopay"). Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America.  Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the Cornell and Cookson brands.

•Consumer and Professional Products (“CPP”) is a leading global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid.

Basis of Presentation

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by US GAAP for complete financial statements. As such, they should be read together with Griffon’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023, which provides a more complete explanation of Griffon’s accounting policies, financial position, operating results, business, properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results. Griffon’s businesses are seasonal; for this and other reasons, the financial results of the Company for any interim period are not necessarily indicative of the results for the full year.

 

The condensed consolidated balance sheet information at September 30, 2023 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2023.

 

The condensed consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. These estimates may be adjusted due to changes in economic, industry or customer financial conditions, as well as changes in technology or demand. Significant estimates include expected loss allowances for credit losses and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, assumptions associated with pension benefit obligations and income or expenses, useful lives associated with depreciation and amortization

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of intangible and fixed assets, warranty reserves, sales incentive accruals, assumption associated with stock based compensation valuation, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves, the valuation of assets and liabilities of discontinued operations, assumptions associated with valuation of acquired assets and assumed liabilities of acquired companies and the accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions Griffon may undertake in the future. Actual results may ultimately differ from these estimates.

 

The carrying values of cash and equivalents, accounts receivable, accounts and notes payable, and revolving credit and variable interest rate debt approximate fair value due to either the short-term nature of such instruments or the fact that the interest rate of the revolving credit and variable rate debt is based upon current market rates.

Applicable accounting guidance establishes a fair value hierarchy requiring the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The accounting guidance establishes three levels of inputs that may be used to measure fair value, as follows:

•Level 1 inputs are measured and recorded at fair value based upon quoted prices in active markets for identical assets.

•Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities.

•Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

 

On December 31, 2023, the fair values of Griffon’s 2028 senior notes and Term Loan B facility approximated $945,532 and $462,153, respectively. Fair values were based upon quoted market prices (level 1 inputs).

 

Insurance contracts with values of $3,711 at December 31, 2023 are measured and recorded at fair value based upon quoted prices in active markets for similar assets (level 2 inputs) and are included in Prepaid and other current assets and $634 is included in other assets on the Consolidated Balance Sheets.

 

Items Measured at Fair Value on a Recurring Basis

In the normal course of business, Griffon’s operations are exposed to the effects of changes in foreign currency exchange rates related to inventory purchases. To manage these risks, Griffon may enter into various derivative contracts such as foreign currency exchange contracts, including forwards and options. As of December 31, 2023, Griffon entered into several such contracts in order to lock into a foreign currency rate for planned settlements of trade liabilities payable in U.S. dollars.

At December 31, 2023, Griffon had $61,000 of Australian dollar contracts at a weighted average rate of $1.50 which qualified for hedge accounting (level 2 inputs). These hedges were all deemed effective as cash flow hedges with gains and losses related to changes in fair value deferred and recorded in Accumulated other comprehensive income (loss) ("AOCI") and Prepaid and other current assets, or Accrued liabilities, until settlement. Upon settlement, gains and losses are recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in Cost of goods and services ("COGS"). AOCI included deferred losses of $1,425 ($997, net of tax) at December 31, 2023. Upon settlement, gains of $525 were recorded in COGS during the three months ended December 31, 2023. All contracts expire in 30 to 240 days.

At December 31, 2023, Griffon had $44,000 of Chinese Yuan contracts at a weighted average rate of $7.02 which qualified for hedge accounting (level 2 inputs). These hedges were all deemed effective as cash flow hedges with gains and losses related to

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changes in fair value deferred and recorded in AOCI and Prepaid and other current assets, or Accrued liabilities, until settlement. Upon settlement, gains and losses are recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in COGS. AOCI included deferred losses of $307 ($224, net of tax) at December 31, 2023. Upon settlement, losses of $636 were recorded in COGS during the three months ended December 31, 2023. All contracts expire in 3 to 283 days.

The Company recognizes revenue when performance obligations identified under the terms of contracts with its customers are satisfied. A performance obligation is a promise in a contract to transfer a distinct good or service, or a bundle of goods or services, to the customer, and is the unit of accounting. A contract with a customer is an agreement which both parties have approved, that creates enforceable rights and obligations, has commercial substance and with respect to which payment terms are identified and collectability is probable. Once the Company has entered into a contract or purchase order, it is evaluated to identify performance obligations. For each performance obligation, revenue is recognized when control of the promised products is transferred to the customer, or services are satisfied under the contract or purchase order, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services (the transaction price).

The Company’s performance obligations are recognized at a point in time related to the manufacture and sale of a broad range of products and components, and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment.

For a complete explanation of Griffon’s revenue accounting policies, this note should be read in conjunction with Griffon’s Annual Report on Form 10-K for the year ended September 30, 2023. See Note 12 - Business Segments for revenue from contracts with customers disaggregated by end markets, segments and geographic location.

 

Inventories are stated at the lower of cost (first-in, first-out or average cost) or net realizable value.

 

The following table details the components of inventory:

			At December 31, 2023						At September 30, 2023
Raw materials and supplies			$	102,757					$	127,342
Work in process			18,474						12,070
Finished goods			357,378						367,718
Total			$	478,609					$	507,130

 

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The following table details the components of property, plant and equipment, net:

			At December 31, 2023						At September 30, 2023
Land, building and building improvements			$	145,321					$	169,923
Machinery and equipment			456,968						447,972
Leasehold improvements			34,043						33,740
			636,332						651,635
Accumulated depreciation			(367,203)						(372,417)
Total			$	269,129					$	279,218

Depreciation expense for property, plant and equipment was $9,267 and $11,489 for the quarters ended December 31, 2023 and 2022, respectively. Depreciation included in Selling, general and administrative ("SG&A") expenses was $3,999 and $4,239 for the quarters ended December 31, 2023 and 2022, respectively. Remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services.

In connection with the expansion of CPP's global sourcing strategy announced on May 3, 2023, 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.

The Company is exposed to credit losses primarily through sales of products and services. Trade receivables are recorded at their stated amount, less allowances for discounts, credit losses and returns. The Company’s expected loss allowance methodology for trade receivables is primarily based on the aging method of the accounts receivables balances and the financial condition of its customers. The allowances represent estimated uncollectible receivables associated with potential customer defaults on contractual obligations (usually due to customers’ potential insolvency), discounts related to early payment of accounts receivables by customers and estimates for returns. The allowance for credit losses includes amounts for certain customers in which a risk of default has been specifically identified, as well as an amount for customer defaults, based on a formula, when it is determined the risk of some default is probable and estimable, but cannot yet be associated with specific customers. Allowance for discounts and returns are recorded as a reduction of revenue and the provision related to the allowance for credit losses is recorded in SG&A expenses.

The Company also considers current and expected future economic and market conditions when determining any estimate of credit losses. Generally, estimates used to determine the allowance are based on assessment of anticipated payment and all other historical, current and future information that is reasonably available. All accounts receivable amounts are expected to be collected in less than one year.

Based on a review of the Company's policies and procedures across all segments, including the aging of its trade receivables, recent write-off history and other factors related to future macroeconomic conditions, Griffon determined that its method to determine credit losses and the amount of its allowances for bad debts is in accordance with the accounting guidance for credit losses on financial instruments, including trade receivables, in all material respects.

The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected:

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			Three months ended December 31,
			2023			2022
Beginning Balance, October 1			$	11,264		$	12,137
Provision for expected credit losses			1,030			1,457
Amounts written off charged against the allowance			(351)			(48)
Other, primarily foreign currency translation			42			90
Ending Balance, December 31			$	11,985		$	13,636

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.

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During the quarter ended December 31, 2023, the Company recognized a tax provision of $17,965 on income before taxes of $60,142, compared to $19,318 on income before taxes of $68,020 in the prior year quarter. The current year quarter results included strategic review costs - retention and other of $4,658 ($3,500, net of tax), restructuring charges of $12,400 ($9,213, net of tax), gain on sale of building of $547 ($406, net of tax); and discrete and certain other tax provisions, net, that affect comparability of $783. The prior year quarter results included strategic review - retention and other of $8,232 ($6,222, net of tax); proxy costs of $1,503 ($1,153, net of tax); gain on the sale of building $10,852 ($8,323, net of tax); and discrete and certain other tax benefits, net, that affect comparability of $333. Excluding these items, the effective tax rates for the quarters ended December 31, 2023 and 2022 were 27.9% and 29.1%, respectively.

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						At December 31, 2023																														At September 30, 2023
						Outstanding Balance						Original Issuer Premium/(Discount)						Capitalized Fees & Expenses						Balance Sheet									Coupon Interest Rate						Outstanding Balance						Original Issuer Premium/(Discount)						Capitalized Fees & Expenses						Balance Sheet									Coupon Interest Rate
Senior notes due 2028			(a)			$	974,775					$	206					(8,415)						$	966,566								5.75		%				$	974,775					$	218					$	(8,920)					$	966,073								5.75		%
Term Loan B due 2029			(b)			461,000						(880)						(6,708)						453,412									Variable						463,000						(922)						(7,039)						455,039									Variable
Revolver due 2025			(b)			21,500						—						(3,419)						18,081									Variable						50,445						—						(3,606)						46,839									Variable
Non US lines of credit			(d)			—						—						—						—									Variable						—						—						(3)						(3)									Variable
Other long term debt			(e)			1,461						—						(11)						1,450									Variable						1,592						—						(11)						1,581									Variable
Totals						1,458,736						(674)						(18,553)						1,439,509															1,489,812						(704)						(19,579)						1,469,529
less: Current portion						(9,274)						—						—						(9,274)															(9,625)						—						—						(9,625)
Long-term debt						$	1,449,462					$	(674)					$	(18,553)					$	1,430,235														$	1,480,187					$	(704)					$	(19,579)					$	1,459,904

						Three Months Ended December 31, 2023																														Three Months Ended December 31, 2022
						Effective Interest Rate						Cash Interest						Amort. Debt (Premium)/Discount						Amort. Debt Issuance Costs & Other Fees						Total Interest Expense						Effective Interest Rate						Cash Interest						Amort. Debt (Premium)/Discount						Amort. Debt Issuance Costs & Other Fees						Total Interest Expense
Senior notes due 2028			(a)			5.9		%				$	14,012					$	(12)					$	505					$	14,505					5.9		%				$	14,012					$	(12)					$	505					$	14,505
Term Loan B due 2029			(b)			7.8		%				9,217						43						330						9,590						6.6		%				7,808						43						351						8,202
Revolver due 2025			(b)			Variable						908						—						186						1,094						Variable						1,344						—						123						1,467
Finance lease - real estate			(c)			n/a						—						—						—						—						5.6		%				178						—						—						178
Non US lines of credit			(d)			Variable						—						—						4						4						Variable						155						—						13						168
Other long term debt			(e)			Variable						302						—						—						302						Variable						130						—						—						130
Capitalized interest												(196)						—						—						(196)												(2)						—						—						(2)
Totals												$	24,243					$	31					$	1,025					$	25,299											$	23,625					$	31					$	992					$	24,648

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(a)    During 2020, Griffon issued, at par, $1,000,000 of 5.75% Senior Notes due 2028 (the “2028 Senior Notes”). Proceeds from the 2028 Senior Notes were used to redeem $1,000,000 of 5.25% Senior Notes due 2022. In connection with the issuance and exchange of the 2028 Senior Notes, Griffon capitalized $16,448 of underwriting fees and other expenses incurred, which is being amortized over the term of such notes. During 2022, Griffon purchased $25,225 of 2028 Senior Notes in the open market at a weighted average discount of 91.82% of par, or $23,161. As of December 31, 2023, outstanding 2028 Senior Notes due totaled $974,775; interest is payable semi-annually on March 1 and September 1.

The 2028 Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. The 2028 Senior Notes were registered under the Securities Act of 1933, as amended (the "Securities Act") via exchange offer. The fair value of the 2028 Senior Notes approximated $945,532 on December 31, 2023 based upon quoted market prices (level 1 inputs). At December 31, 2023, $8,415 of underwriting fees and other expenses incurred remained to be amortized.

(b) On August 1, 2023, Griffon amended and restated its Credit Agreement (as amended, "Credit Agreement"). The amendment increased the maximum borrowing availability on its revolving credit facility from $400,000 to $500,000 (the "Revolver") and extended the maturity date of the Revolver from March 22, 2025 to August 1, 2028. In the event the 2028 Senior Notes are not repaid, refinanced, or replaced prior to December 1, 2027, the Revolver will mature on December 1, 2027. The amendment also modified certain other provisions of the Credit Agreement, including increasing the letter of credit sub-facility under the Revolver from $100,000 to $125,000 and increasing the customary accordion feature from a minimum of $375,000 to a minimum of $500,000. The Revolver also includes a multi-currency sub-facility of $200,000.

Borrowings under the Revolver may be repaid and re-borrowed at any time. Interest is payable on borrowings at either a Secured Overnight Financing Rate ("SOFR"), Sterling Overnight Index Average ("SONIA") or base rate benchmark rate, plus an applicable margin, which adjusts based on financial performance. Griffon's SOFR loans accrue interest at TERM SOFR plus a credit adjustment spread and a margin of 2.00% (7.46% at December 31, 2023); SONIA loans accrue interest at SONIA Base Rate plus a credit adjustment spread and a margin of 2.00% (7.22% at December 31, 2023); and base rate loans accrue interest at prime rate plus a margin of 1.00% (9.50% at December 31, 2023).

At December 31, 2023, under the Revolver, there were $21,500 in outstanding borrowings; outstanding standby letters of credit were $12,962; and $465,538 was available, subject to certain loan covenants, for borrowing at that date.

    On January 24, 2022, Griffon amended and restated its Credit Agreement to provide for a new $800,000 Term Loan B facility, due January 24, 2029, in addition to the Revolver. The Term Loan B accrues interest at the Term SOFR rate plus a credit adjustment spread with a floor of 0.50%, and a spread of 2.25% (7.75% as of December 31, 2023). The Term Loan B was issued at 99.75% of par value. In connection with this amendment, Griffon capitalized $15,466 of underwriting fees and other expenses incurred, which are being amortized over the term of the loan.

The Term Loan B facility requires nominal quarterly principal payments of $2,000, potential additional annual principal payments based on a percentage of excess cash flow and certain secured leverage thresholds starting with the fiscal year ending September 30, 2023; and a final balloon payment due at maturity. At September 30, 2023, Griffon's secured leverage remained below the threshold set forth in the Credit Agreement that would, if exceeded, require Griffon to make an additional payment, and therefore no additional annual principal payment was required. Term Loan B borrowings may generally be repaid without penalty but may not be re-borrowed. During 2023 and 2022, Griffon prepaid $25,000 and $300,000, respectively, aggregate principal amount of the Term Loan B, which permanently reduced the outstanding balance. In connection with the prepayment of the Term Loan B, Griffon recognized a charge of $437 and $6,296 on the prepayment of debt in 2023 and 2022, respectively. The charges were comprised of write-offs of underwriting fees and other expenses of $386 and $5,575 for 2023 and 2022, respectively, and the original issue discount of $51 and $721 for 2023 and 2022, respectively. The Term Loan B facility is subject to the same affirmative and negative covenants that apply to the Revolver (as described below), but is not subject to any financial maintenance covenants. Term Loan B borrowings are secured by the same collateral as the Revolver on an equal and ratable basis. The fair value of the Term Loan B facility approximated $462,153 on December 31, 2023 based upon quoted market prices (level 1 inputs). At December 31, 2023, $6,708 of underwriting fees and other expenses incurred, remained to be amortized. At December 31, 2023, $461,000 of the Term Loan B was outstanding.

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The Revolver has certain financial maintenance tests including a maximum total leverage ratio, a maximum senior secured leverage ratio and a minimum interest coverage ratio, as well as customary affirmative and negative covenants and events of default. The negative covenants place limits on Griffon's ability to, among other things, incur indebtedness, incur liens, and make restricted payments and investments. Both the Revolver and Term Loan B borrowings under the Credit Agreement are guaranteed by Griffon’s material domestic subsidiaries and are secured, on a first priority basis, by substantially all domestic assets of the Company and the guarantors, and a pledge of not greater than 65% of the equity interest in Griffon’s material, first-tier foreign subsidiaries.

(c)    On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. The remaining lease liability balance relates to finance equipment leases. Refer to Note 20-Leases for further details.

(d)     In November 2012, Garant G.P. (“Garant”), a Griffon wholly owned subsidiary, entered into a CAD 15,000 ($11,363 as of December 31, 2023) revolving credit facility. Effective in December 2023, the facility was amended to replace the Canadian Dollar Offer Rate with the Canadian Overnight Repo Rate Average ("CORRA"). The facility accrues interest at CORRA or the Bankers Acceptance Rate (CDN) plus 1.3% per annum (6.36% using CORRA and 6.53% using Bankers Acceptance Rate CDN as of December 31, 2023). The revolving facility matures in December 2024, but is renewable upon mutual agreement with the lender. Garant is required to maintain a certain minimum equity. At December 31, 2023, there were no outstanding borrowings under the revolving credit facility with CAD 15,000 ($11,363 as of December 31, 2023) available.

During 2022, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries (collectively, "Griffon Australia") amended its AUD 18,375 term loan, AUD 20,000 revolver and AUD 15,000 receivable purchase facility agreement that was entered into in July 2016 and further amended in fiscal 2020. Griffon Australia paid off the term loan in the amount of AUD 9,625 and canceled the AUD 20,000 revolver. In March 2023 the existing receivable purchase facility was renewed and increased from AUD 15,000 to AUD 30,000. The receivable purchase facility matures in March 2024, but is renewable upon mutual agreement with the lender. The receivable purchase facility accrues interest at BBSY (Bank Bill Swap Rate) plus 1.25% per annum (5.56% at December 31, 2023). At December 31, 2023, there was no balance outstanding under the receivable purchase facility with AUD 30,000 ($20,511 as of December 31, 2023) available. The receivable purchase facility is secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level.

In July 2018, the AMES Companies UK Ltd and its subsidiaries (collectively, "Ames UK") entered into a GBP 14,000 term loan, GBP 4,000 mortgage loan and GBP 5,000 revolver, which matured in July 2023. Prior to maturity, on June 30, 2023, AMES UK paid off and cancelled the GBP 14,000 term loan and GBP 4,000 mortgage loan. The payoff amounts were GBP 7,525 ($9,543) and GBP 2,451 ($3,108), respectively. Upon maturity in July 2023, the GBP 5,000 revolver had no balance and was not renewed.

(e)     Other long-term debt primarily consists of a loan with the Pennsylvania Industrial Development Authority, with the balance consisting of finance leases.

At December 31, 2023, Griffon and its subsidiaries were in compliance with the terms and covenants of all credit and loan agreements.

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During the three months ended December 31, 2023, the Company paid a quarterly cash dividend of $0.15 per share. During 2023, the Board of Directors approved two quarterly cash dividends each for $0.10 per share, and two quarterly cash dividends of $0.125 per share, totaling $0.45. Additionally, on April 19, 2023, the Board of Directors declared a special cash dividend of $2.00 per share, paid on May 19, 2023, to shareholders of record as of the close of business on May 9, 2023. The Company currently intends to pay dividends each quarter; however, payment of dividends is determined by the Board of Directors at its discretion based on various factors, and no assurance can be provided as to the payment of future dividends. Dividends paid on shares in the ESOP were used to offset ESOP compensation expense. For all dividends, a dividend payable is established for the holders of restricted shares; such dividends will be released upon vesting of the underlying restricted shares.

On February 6, 2024, the Board of Directors declared a quarterly cash dividend of $0.15 per share, payable on March 21, 2024 to shareholders of record as of the close of business on February 29, 2024.

On January 29, 2016, shareholders approved the Griffon Corporation 2016 Equity Incentive Plan (the "Original Incentive Plan") pursuant to which, among other things, awards of performance shares, performance units, stock options, stock appreciation rights, restricted shares, restricted stock units, deferred shares and other stock-based awards may be granted. On January 31, 2018, shareholders approved Amendment No. 1 to the Original Incentive Plan pursuant to which, among other things, 1,000,000 shares were added to the Original Incentive Plan; on January 30, 2020, shareholders approved Amendment No. 2 to the Original Incentive Plan, pursuant to which 1,700,000 shares were added to the Original Incentive Plan; and on February 17, 2022, shareholders approved the Amended and Restated 2016 Equity Incentive Plan (the “Amended Incentive Plan”), which amended and restated the Original Incentive Plan and pursuant to which, among other things, 1,200,000 shares were added to the Original Incentive Plan. A proposal to approve an amendment to add 2,600,000 shares to the Amended Incentive Plan (the “Amendment”) is included in Griffon’s Proxy Statement dated January 29, 2024 related to the 2024 Annual Meeting of Shareholders, scheduled to be held on March 20, 2024. If shareholders approve this proposal, 2,600,000 shares will be added to the Amended Incentive Plan as of the date of the 2024 Annual Meeting of Shareholders. Options granted under the Amended Incentive Plan may be either “incentive stock options” or nonqualified stock options, generally expire ten years after the date of grant and are granted at an exercise price of not less than 100% of the fair market value at the date of grant. The maximum number of shares of common stock available for award under the Amended Incentive Plan, before giving effect to the Amendment, is 6,250,000 (600,000 of which may be issued as incentive stock options), plus (i) any shares that were reserved for issuance under the Original Incentive Plan as of the effective date of the Original Incentive Plan, and (ii) any shares underlying awards outstanding on such date under the 2011 Incentive Plan that were subsequently canceled or forfeited. As of December 31, 2023, there were 154,369 shares available for grant.

Compensation expense for restricted stock and restricted stock units is recognized ratably over the required service period based on the fair value of the grant, calculated as the number of shares or units granted multiplied by the stock price on the date of grant, and for performance shares, including performance units, the likelihood of achieving the performance criteria. The Company recognizes forfeitures as they occur. Compensation expense for restricted stock granted to two senior executives is calculated as the maximum number of shares granted, upon achieving certain performance criteria, multiplied by the stock price as valued by a Monte Carlo Simulation Model. Compensation cost related to stock-based awards with graded vesting, generally over a period of three to four years, is recognized using the straight-line attribution method and recorded within SG&A expenses.

The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans:

									For the Three Months Ended December 31,
												2023			2022
Restricted stock												$	5,028		$	5,538
ESOP												1,389			1,204
Total stock-based compensation												$	6,417		$	6,742

During the first quarter of 2024, Griffon granted 174,104 shares of restricted stock and restricted stock units ("RSUs"). This includes 166,272 shares of restricted stock and 7,832 RSUs granted to 43 executives and key employees, subject to certain

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performance conditions, with a vesting period of thirty-six months and a total fair value of $8,225, or a weighted average fair value of $47.24 per share. During the quarter ended December 31, 2023, 166,272 shares granted were issued out of treasury stock.

On April 19, 2023, the Company's Board of Directors approved a $200,000 increase to Griffon's share repurchase program to $257,955 from the prior unused board authorizations of $57,955. Also, on November 15, 2023, Griffon announced that the Board of Directors approved an additional increase of $200,000 to its share repurchase authorization. Under the authorized share repurchase program, the Company may, from time to time, purchase shares of its common stock in the open market, including pursuant to a 10b5-1 plan, pursuant to an accelerated share repurchase program or issuer tender offer, or in privately negotiated transactions. Share repurchases during the quarter ended December 31, 2023 totaled 1,634,454 shares of common stock, for a total of $69,640, or an average of $42.61 per share. As of December 31, 2023, $237,543 remains under these Board authorized repurchase programs. During the quarter ended and as of December 31, 2023, $696 and $1,997, respectively, were accrued for excise taxes for share repurchases.

 

Basic EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding plus additional common shares that could be issued in connection with stock-based compensation.

 

The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share:

									Three Months Ended December 31,
															2023						2022
Common shares outstanding															51,386						57,186
Unallocated ESOP shares															(154)						(979)
Non-vested restricted stock															(2,783)						(3,230)
Impact of weighted average shares															335						(398)
Weighted average shares outstanding - basic															48,784						52,579
Incremental shares from stock-based compensation															2,683						2,719
Weighted average shares outstanding - diluted															51,467						55,298

Shares of the ESOP that have been allocated to employee accounts are treated as outstanding in determining earnings per share.

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Griffon reports its operations through two reportable segments, as follows:

•Home and Building Products ("HBP") conducts its operations through Clopay. Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America.  Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the Cornell and Cookson brands.

•Consumer and Professional Products (“CPP”) is a leading global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid.

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

Disaggregation of Revenue

Revenue from contracts with customers is disaggregated by end markets, segments and geographic location, as it more accurately depicts the nature and amount of the Company’s revenue. 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

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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

Griffon evaluates performance and allocates resources based on segment adjusted EBITDA and adjusted EBITDA, non-GAAP measures, which is defined as income before taxes, excluding interest income and expense, depreciation and amortization, strategic review charges, non-cash impairment charges, restructuring charges, gain/loss from debt extinguishment and acquisition related expenses, as well as other items that may affect comparability, as applicable. Segment adjusted EBITDA also excludes unallocated amounts, mainly corporate overhead. Griffon believes this information is useful to investors for the same reason. The following table provides a reconciliation of segment and adjusted EBITDA to income before taxes:

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									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

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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.

Defined benefit pension expense (income) included in Other Income (Expense), net was as follows:

									Three Months Ended December 31,
															2023						2022
Interest cost															$	1,888					$	1,825
Expected return on plan assets															(2,543)						(2,553)
Amortization:
Recognized actuarial loss															689						944
Net periodic expense															$	34					$	216

In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. This standard expands disclosures regarding a public entity’s reportable segments and requires additional information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The standard does not change the definition of operating segments. This standard is effective for the Company beginning with our fiscal year 2025, with early adoption permitted. The Company is currently evaluating the potential changes to its reportable segment disclosures and related impact on its business and financial reporting processes and information technology systems. The Company does not expect the adoption of this standard to have an impact on its financial position, results of operations, or cash flows.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosure. The standard requires significant additional disclosures focused on income taxes paid and the rate reconciliation table. Specifically, the amendments in the standard require the Company to disclose disaggregated: (1) income taxes paid by federal, state, and foreign taxes on both an interim and annual basis, (2) pre-tax income between domestic and foreign, and (3) income tax expense by federal, state and foreign tax expense. The standard also requires the Company to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This standard is effective for the Company beginning with our fiscal year 2026, with retrospective application permitted. The Company is currently evaluating the potential changes to its income tax disclosures and related impact on its financial reporting processes

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and information technology systems. The Company does not expect the adoption of this standard to have an impact on its financial position, results of operations, or cash flows.

The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements, and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

At December 31, 2023 and September 30, 2023, Griffon’s liabilities for discontinued operations primarily relate to insurance claims, income taxes, product liability, warranty and environmental reserves total $8,703 and $11,798, respectively. The following amounts summarize the total assets and liabilities which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations in the Condensed Consolidated Balance Sheets:

			At December 31, 2023						At September 30, 2023
Assets of discontinued operations:
Prepaid and other current assets			$	984					$	1,001
Other long-term assets			4,138						4,290
Total assets of discontinued operations			$	5,122					$	5,291
Liabilities of discontinued operations:
Accrued liabilities, current			$	4,216					$	7,148
Other long-term liabilities			4,487						4,650
Total liabilities of discontinued operations			$	8,703					$	11,798

There was no reported revenues or costs in the three months ended December 31, 2023 and 2022 for discontinued operations.

In response to changing market conditions, Griffon announced in May 2023 that CPP is expanding its global sourcing strategy to include long handled tools, material handling, and wood storage and organization product lines.

By transitioning these product lines to an asset-light structure, CPP’s operations will be better positioned to serve customers with a more flexible and cost-effective sourcing model that leverages supplier relationships around the world, while improving its competitive positioning in a post-pandemic marketplace.

The global sourcing strategy expansion is expected to be complete by the end of calendar 2024. Over that period, CPP expects to reduce its facility footprint by approximately 1.2 million square feet, or approximately 15% of CPP's square footage, and its headcount by approximately 600. Operations have ceased at Camp Hill and Harrisburg, PA; Fairfield, IA; and four wood mills. The final facility, in Grantsville, MD, is expected to close by March 2024. The closed locations, totaling a net book value of $15,010, have met the held for sale criteria and have been classified as such on our Balance Sheet as of December 31, 2023.

Implementation of this strategy over the duration of the project will result in charges of $120,000 to $130,000, including $50,000 to $55,000 of cash charges for employee retention and severance, operational transition, and facility and lease exit costs, and $70,000 to $75,000 of non-cash charges primarily related to asset write-downs. Capital investment in the range of $3,000 to $5,000 will also be required. These costs exclude cash proceeds from the sale of real estate and equipment, which are expected to largely offset the cash charges, and also exclude inefficiencies due to duplicative labor costs and absorption impacts during transition.

In the quarter ended December 31, 2023, CPP incurred pre-tax restructuring and related exit costs approximating $12,400. During the quarter ended December 31, 2023, cash charges totaled $3,918 and non-cash, asset-related charges totaled $8,482. The cash charges included $1,847 for one-time termination benefits and other personnel-related costs and $2,071 for facility exit costs. Non-cash charges of $8,482 were recorded to adjust inventory to net realizable value.

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A summary of the restructuring and other related charges included in Cost of goods and services and SG&A expenses in the Company's Condensed Consolidated Statements of Operations were as follows:

									For the Three Months Ended December 31,
															2023
Cost of goods and services															$	11,646
Selling, general and administrative expenses															754
Total restructuring charges															$	12,400

									For the Three Months Ended December 31,
												2023
Personnel related costs												$	1,847
Facilities, exit costs and other												2,071
Non-cash facility and other												8,482
Total												$	12,400

The following tables summarizes the accrued liabilities of the Company's restructuring actions for the three months ended December 31, 2023:

			Cash Charges												Non-Cash
			Personnel related costs						Facilities & Exit Costs						Facility and Other Costs(1)						Total
Accrued liability at September 30, 2023			$	14,107					$	5,551					$	—					$	19,658
Restructuring charges			1,847						2,071						8,482						12,400
Cash payments			(7,215)						(3,362)						—						(10,577)
Non-cash charges			—						—						(8,482)						(8,482)
Accrued liability at December 31, 2023			$	8,739					$	4,260					$	—					$	12,999

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(1) Non-cash charges in Facility and Other Costs represent non-cash impairment charges to adjust inventory to net realizable value.

 

For the quarters ended December 31, 2023 and 2022, Other income (expense) of $632 and $607, respectively, includes $13 and $67, respectively, of net currency exchange gains in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries, net periodic benefit plan expense of $34 and $216, respectively, and net investment income of $56 and $33, respectively. Other income (expense) also includes rental income of $0 and $212 and royalty income of $592 and $549 for the three months ended December 31, 2023 and 2022, respectively.

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HBP and CPP offer warranties against product defects for periods generally ranging from one to ten years, with limited lifetime warranties on certain door and fan models. Typical warranties require HBP and CPP to repair or replace the defective products during the warranty period at no cost to the customer. At the time revenue is recognized, Griffon records a liability for warranty costs, estimated based on historical experience, and periodically assesses its warranty obligations and adjusts the liability as necessary. CPP offers an express limited warranty for a period of ninety days on all products from the date of original purchase unless otherwise stated on the product or packaging from the date of original purchase. Warranty costs expected to be incurred in the next 12 months are classified in accrued liabilities. Warranty costs expected to be incurred beyond one year are classified in other long-term liabilities. The current portion of warranty was $15,461 as of December 31, 2023 and $20,781 as of September 30, 2023. The long-term warranty liability was $1,239 at both December 31, 2023 and September 30, 2023.

Changes in Griffon’s warranty liability in accrued liabilities for the three months ended December 31, 2023 and 2022 were as follows:

									Three Months Ended December 31,
															2023						2022
Balance, beginning of period															$	20,781					$	16,786
Warranties issued and changes in estimated pre-existing warranties															940						4,667
Actual warranty costs incurred															(6,260)						(3,754)
Balance, end of period															$	15,461					$	17,699

 

The amounts recognized in other comprehensive income (loss) were as follows:

			For the Three Months Ended December 31,
			2023																		2022
			Pre-tax						Tax						Net of tax						Pre-tax						Tax						Net of tax
Foreign currency translation adjustments			$	10,238					$	—					$	10,238					$	11,937					$	—					$	11,937
Pension and other defined benefit plans			673						(141)						532						1,088						(226)						862
Cash flow hedges			(421)						126						(295)						(829)						249						(580)
Total other comprehensive income (loss)			$	10,490					$	(15)					$	10,475					$	12,196					$	23					$	12,219

The components of Accumulated other comprehensive income (loss) are as follows:

			At December 31, 2023						At September 30, 2023
Foreign currency translation adjustments			$	(38,485)					$	(48,723)
Pension and other defined benefit plans			(20,133)						(20,665)
Cash flow hedges			(917)						(622)
Total			$	(59,535)					$	(70,010)

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Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows:

									For the Three Months Ended December 31,
Gain (Loss)															2023						2022
Pension amortization															$	(689)					$	(944)
Cash flow hedges															(111)						1,004
Total gain (loss) before tax															$	(800)					$	60
Tax benefit (expense)															168						(13)
Net of tax															$	(632)					$	47

The Company recognizes right-of-use ("ROU") assets and lease liabilities on the balance sheet, with the exception of leases with a term of twelve months or less. The Company determines if an arrangement is a lease at inception. The ROU assets and short and long-term liabilities associated with our Operating leases are shown as separate line items on our Condensed Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, net, other accrued liabilities, and other non-current liabilities. The Company's finance leases are immaterial. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments primarily include rent and insurance costs (lease components). The Company's leases also include non-lease components such as real estate taxes and common-area maintenance costs. The Company elected the practical expedient to account for lease and non-lease components as a single component. In certain of the Company's leases, the non-lease components are variable and in accordance with the standard are therefore excluded from lease payments to determine the ROU asset. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our determination of the lease term may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option.

For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less (a "Short-term" lease), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. Components of operating lease costs are as follows:

						For the Three Months Ended December 31,
									2023			2022
Fixed									$	11,574		$	11,294
Variable (a), (b)									2,474			2,772
Short-term (b)									1,581			2,204
Total									$	15,629		$	16,270

________________

(a) Primarily relates to common-area maintenance and property taxes.

(b) Not recorded on the balance sheet.

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Supplemental cash flow information were as follows:

			For the Three Months Ended December 31,
			2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$	11,072		$	9,623
Financing cash flows from finance leases			114			744
Total			$	11,186		$	10,367

Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows:

			December 31, 2023			September 30, 2023
Operating Leases:
Right of use assets:
Operating right-of-use assets			$	176,100		$	169,942
Lease Liabilities:
Current portion of operating lease liabilities			$	34,075		$	32,632
Long-term operating lease liabilities			152,343			147,224
Total operating lease liabilities			$	186,418		$	179,856
Finance Leases:
Property, plant and equipment, net(1)			$	899		$	994
Lease Liabilities:
Notes payable and current portion of long-term debt			$	209		$	280
Long-term debt, net			153			184
Total financing lease liabilities			$	362		$	464

(1) Finance lease assets are recorded net of accumulated depreciation of $1,645 and $6,769 as of December 31, 2023 and September 30, 2023, respectively.

On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. The remaining lease liability balance relates to finance equipment leases.

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The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2023 are as follows (in thousands):

			Operating Leases			Finance Leases
2024(a)			$	34,061		$	187
2025			39,247			125
2026			30,446			66
2027			25,633			4
2028			20,788			—
2029			16,317			—
Thereafter			69,128			—
Total lease payments			$	235,620		$	382
Less: Imputed Interest			(49,202)			(20)
Present value of lease liabilities			$	186,418		$	362

(a) Excluding the quarter ended December 31, 2023.

Average lease terms and discount rates at December 31, 2023 were as follows:

Weighted-average remaining lease term (years):
Operating leases						7.6
Finance Leases						3.3
Weighted-average discount rate:
Operating Leases						6.11		%
Finance Leases						5.83		%

 

Legal and environmental

Peekskill Site. Lightron Corporation (“Lightron”), a wholly-owned subsidiary of Griffon, once conducted lamp manufacturing and metal finishing operations at a location in the Town of Cortlandt, New York, just outside the city of Peekskill, New York (the “Peekskill Site”) which was owned by ISC Properties, Inc. (“ISCP”), a wholly-owned subsidiary of Griffon, for approximately three years. ISCP sold the Peekskill Site in November 1982.

Based upon studies conducted by ISCP and the New York Department of Environmental Conservation, soils and groundwater beneath the Peekskill Site contain chlorinated solvents and metals. Stream sediments downgradient from the Peekskill Site also contain metals. On May 15, 2019 the United States Environmental Protection Agency ("EPA") added the Peekskill Site to the National Priorities List under CERCLA and has since reached agreement with Lightron and ISCP pursuant to which Lightron and ISCP will perform a Remedial Investigation/Feasibility Study (“RI/FS”). Performance of the RI/FS is expected to be completed in calendar 2024/2025.

Lightron has not engaged in any operations in over three decades. ISCP functioned solely as a real estate holding company and has not held any real property in over three decades. Griffon does not acknowledge any responsibility to perform any investigation or remediation at the Peekskill Site. One of Griffon’s insurers is defending Lightron, ISCP and Griffon subject to a reservation of rights and is paying the costs of the RI/FS.

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Memphis, TN site. Hunter Fan Company (“Hunter”) operated headquarters and a production plant in Memphis, TN for over 50 years (the “Memphis Site”). While Hunter completed certain on-site remediation of PCB-contaminated soils, Hunter did not investigate the extent to which PCBs existed beneath the building itself nor determine whether off-site areas had been impacted. Hunter vacated the site approximately twenty years ago, and the on-site buildings have now been demolished.

The State of Tennessee Department of Environment and Conservation (“TDEC”) identified the Memphis site as being potentially contaminated, raising the possibility that site operations could have resulted in soil and groundwater contamination involving volatile organic compounds and metals. In 2021, the TDEC performed a preliminary assessment of the site and recommended to the United States Environmental Protection Agency (“EPA”) that it include the site on the National Priorities List established under CERCLA. The TDEC further recommended that the EPA fund an investigation of potential soil gas contamination in receptors near the site. The TDEC has also indicated that it will proceed with this investigation if the EPA does not act.

It is unknown whether the EPA will add the Memphis Site to the National Priorities List, whether a site investigation will reveal contamination and, if there is contamination, the extent of any such contamination. However, given that certain PCB work was not completed in the past and the TDEC’s stated intent for the EPA to perform an investigation (and the statement by the TDEC that it will perform the investigation if the EPA will not), liability is probable in this matter. There are other potentially responsible parties for this site, including a former owner of Hunter; Hunter has notified such former owner of this matter, which may have certain liability for any required remediation.

If the EPA decides to add this site to the National Priorities List, a Remedial Investigation/Feasibility Study (“RI/FS”) will be required. Hunter expects that the EPA will ask it to perform this work. If Hunter does not reach an agreement with the EPA to perform this work, the EPA will implement the RI/FS on its own. Should the EPA implement the RI/FS or perform further studies and/or subsequently remediate the site without first reaching an agreement with one or more relevant parties, the EPA would likely seek reimbursement from such parties, including Hunter, for the costs incurred.

General legal

Griffon is subject to various laws and regulations relating to the protection of the environment and is a party to legal proceedings arising in the ordinary course of business. Management believes, based on facts presently known to it, that the resolution of the matters above and such other matters will not have a material adverse effect on Griffon’s consolidated financial position, results of operations or cash flows.

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v3.24.0.1

Cover Page - shares	3 Months Ended
	Dec. 31, 2023	Jan. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	1-06620
Entity Registrant Name	GRIFFON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-1893410
Entity Address, Address Line One	712 Fifth Ave, 18th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	212
Local Phone Number	957-5000
Title of 12(b) Security	Common Stock, $0.25 par value
Trading Symbol	GFF
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,946,212
Current Fiscal Year End Date	--09-30
Amendment Flag	false
Entity Central Index Key	0000050725
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

v3.24.0.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
CURRENT ASSETS
Cash and equivalents	$ 110,546	$ 102,889
Accounts receivable, net of allowances of $11,985 and $11,264	299,594	312,432
Inventories	478,609	507,130
Prepaid and other current assets	57,863	57,139
Assets held for sale	15,010	0
Assets of discontinued operations	984	1,001
Total Current Assets	962,606	980,591
PROPERTY, PLANT AND EQUIPMENT, net	269,129	279,218
OPERATING LEASE RIGHT-OF-USE ASSETS	176,100	169,942
GOODWILL	327,864	327,864
INTANGIBLE ASSETS, net	632,111	635,243
OTHER ASSETS	21,365	21,731
ASSETS OF DISCONTINUED OPERATIONS	4,138	4,290
Total Assets	2,393,313	2,418,879
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	9,274	9,625
Accounts payable	154,018	116,646
Accrued liabilities	190,096	193,098
Current portion of operating lease liabilities	34,075	32,632
Liabilities of discontinued operations	4,216	7,148
Total Current Liabilities	391,679	359,149
LONG-TERM DEBT, net	1,430,235	1,459,904
LONG-TERM OPERATING LEASE LIABILITIES	152,343	147,224
OTHER LIABILITIES	129,547	132,708
LIABILITIES OF DISCONTINUED OPERATIONS	4,487	4,650
Total Liabilities	2,108,291	2,103,635
COMMITMENTS AND CONTINGENCIES - See Note 21
SHAREHOLDERS’ EQUITY
Total Shareholders’ Equity	285,022	315,244
Total Liabilities and Shareholders’ Equity	$ 2,393,313	$ 2,418,879

v3.24.0.1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Statement of Financial Position [Abstract]
Accounts receivable, net allowances	$ 11,985	$ 11,264

v3.24.0.1

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	COMMON STOCK	CAPITAL IN EXCESS OF PAR VALUE	RETAINED EARNINGS	TREASURY SHARES	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	DEFERRED COMPENSATION
Beginning balance (in shares) at Sep. 30, 2022		84,746
Beginning balance (in shares) at Sep. 30, 2022					27,682
Balance at Sep. 30, 2022	$ 477,570	$ 21,187	$ 627,982	$ 344,060	$ (420,116)	$ (82,738)	$ (12,805)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	48,702			48,702
Dividend	(6,145)			(6,145)
Shares withheld on employee taxes on vested equity awards (in shares)					345
Shares withheld on employee taxes on vested equity awards	(12,734)				$ (12,734)
Amortization of deferred compensation	571						571
Equity awards granted, net (in shares)					(467)
Equity awards granted, net	0		(7,082)		$ 7,082
ESOP allocation of common stock	1,127		1,127
Stock-based compensation	5,538		5,538
Other comprehensive income, net of tax	12,219					12,219
Ending balance (in shares) at Dec. 31, 2022		84,746
Ending balance (in shares) at Dec. 31, 2022					27,560
Balance at Dec. 31, 2022	526,848	$ 21,187	627,565	386,617	$ (425,768)	(70,519)	(12,234)
Beginning balance (in shares) at Sep. 30, 2023		84,746
Beginning balance (in shares) at Sep. 30, 2023					31,684
Balance at Sep. 30, 2023	315,244	$ 21,187	662,680	281,516	$ (577,686)	(70,010)	(2,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	42,177			42,177
Dividend	(7,825)			(7,825)
Shares withheld on employee taxes on vested equity awards (in shares)					221
Shares withheld on employee taxes on vested equity awards	(11,604)				$ (11,604)
Amortization of deferred compensation	520						520
Common stock acquired (in shares)					1,634
Common stock acquired	(70,543)				$ (70,543)
Equity awards granted, net (in shares)					(180)
Equity awards granted, net	0		(3,383)		$ 3,383
ESOP allocation of common stock	1,550		1,550
Stock-based compensation	5,028		5,028
Other comprehensive income, net of tax	10,475					10,475
Ending balance (in shares) at Dec. 31, 2023		84,746
Ending balance (in shares) at Dec. 31, 2023					33,359
Balance at Dec. 31, 2023	$ 285,022	$ 21,187	$ 665,875	$ 315,868	$ (656,450)	$ (59,535)	$ (1,923)

v3.24.0.1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 643,153	$ 649,384
Cost of goods and services	406,512	415,559
Gross profit	236,641	233,825
Selling, general and administrative expenses	152,803	152,720
Income from operations	83,838	81,105
Other income (expense)
Interest expense	(25,299)	(24,648)
Interest income	424	104
Gain on sale of building	547	10,852
Other, net	632	607
Total other expense, net	(23,696)	(13,085)
Income before taxes	60,142	68,020
Provision for income taxes	17,965	19,318
Net income	$ 42,177	$ 48,702
Basic earnings per common share (in dollars per share)	$ 0.86	$ 0.93
Basic weighted-average shares outstanding (in shares)	48,784	52,579
Diluted earnings per common share (in dollars per share)	$ 0.82	$ 0.88
Diluted weighted-average shares outstanding (in shares)	51,467	55,298
Dividends paid per common share (in dollars per share)	$ 0.15	$ 0.10
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	$ 10,238	$ 11,937
Pension and other post retirement plans	532	862
Change in cash flow hedges	(295)	(580)
Total other comprehensive income, net of taxes	10,475	12,219
Comprehensive income, net	$ 52,652	$ 60,921

v3.24.0.1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 42,177	$ 48,702
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,823	17,113
Stock-based compensation	6,417	6,742
Asset impairment charges - restructuring	8,482	0
Provision for losses on accounts receivable	562	482
Amortization of debt discounts and issuance costs	1,056	1,023
Gain on sale of assets and investments	(550)	(10,923)
Change in assets and liabilities:
Decrease in accounts receivable	14,491	13,689
Decrease in inventories	24,623	22,931
(Increase) decrease in prepaid and other assets	(3,631)	100
Increase (decrease) in accounts payable, accrued liabilities, income taxes payable and operating lease liabilities	36,491	(26,333)
Other changes, net	1,117	1,954
Net cash provided by operating activities	146,058	75,480
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property, plant and equipment	(14,330)	(4,726)
Payments related to sale of business	0	(2,568)
Proceeds from the sale of property, plant and equipment	787	11,815
Net cash provided by (used in) investing activities	(13,543)	4,521
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid	(9,965)	(7,126)
Purchase of shares for treasury	(81,449)	(12,735)
Proceeds from long-term debt	31,500	29,823
Payments of long-term debt	(63,860)	(87,539)
Financing costs	(114)	(744)
Other, net	(59)	(42)
Net cash used in financing activities	(123,947)	(78,363)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in operating activities	(2,926)	(1,953)
Net cash used in discontinued operations	(2,926)	(1,953)
Effect of exchange rate changes on cash and equivalents	2,015	689
NET INCREASE IN CASH AND EQUIVALENTS	7,657	374
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	102,889	120,184
CASH AND EQUIVALENTS AT END OF PERIOD	$ 110,546	$ 120,558

v3.24.0.1

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION   About Griffon Corporation   Griffon Corporation (the “Company”, “Griffon”, "we" or "us") is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. Griffon provides direction and assistance to its subsidiaries in connection with acquisition and growth opportunities, as well as in connection with divestitures. In order to further diversify, Griffon also seeks out, evaluates and, when appropriate, will acquire additional businesses that offer potentially attractive returns on capital. The Company was founded in 1959, is a Delaware corporation headquartered in New York, N.Y. and is listed on the New York Stock Exchange (NYSE:GFF). Griffon conducts its operations through two reportable segments: •Home and Building Products ("HBP") conducts its operations through Clopay Corporation ("Clopay"). Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America.  Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the Cornell and Cookson brands. •Consumer and Professional Products (“CPP”) is a leading global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid. Basis of Presentation   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by US GAAP for complete financial statements. As such, they should be read together with Griffon’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023, which provides a more complete explanation of Griffon’s accounting policies, financial position, operating results, business, properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results. Griffon’s businesses are seasonal; for this and other reasons, the financial results of the Company for any interim period are not necessarily indicative of the results for the full year.   The condensed consolidated balance sheet information at September 30, 2023 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2023.   The condensed consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. These estimates may be adjusted due to changes in economic, industry or customer financial conditions, as well as changes in technology or demand. Significant estimates include expected loss allowances for credit losses and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, assumptions associated with pension benefit obligations and income or expenses, useful lives associated with depreciation and amortization of intangible and fixed assets, warranty reserves, sales incentive accruals, assumption associated with stock based compensation valuation, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves, the valuation of assets and liabilities of discontinued operations, assumptions associated with valuation of acquired assets and assumed liabilities of acquired companies and the accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions Griffon may undertake in the future. Actual results may ultimately differ from these estimates.

v3.24.0.1

FAIR VALUE MEASUREMENTS	3 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS   The carrying values of cash and equivalents, accounts receivable, accounts and notes payable, and revolving credit and variable interest rate debt approximate fair value due to either the short-term nature of such instruments or the fact that the interest rate of the revolving credit and variable rate debt is based upon current market rates. Applicable accounting guidance establishes a fair value hierarchy requiring the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The accounting guidance establishes three levels of inputs that may be used to measure fair value, as follows: •Level 1 inputs are measured and recorded at fair value based upon quoted prices in active markets for identical assets. •Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities. •Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.   On December 31, 2023, the fair values of Griffon’s 2028 senior notes and Term Loan B facility approximated $945,532 and $462,153, respectively. Fair values were based upon quoted market prices (level 1 inputs).   Insurance contracts with values of $3,711 at December 31, 2023 are measured and recorded at fair value based upon quoted prices in active markets for similar assets (level 2 inputs) and are included in Prepaid and other current assets and $634 is included in other assets on the Consolidated Balance Sheets.   Items Measured at Fair Value on a Recurring Basis In the normal course of business, Griffon’s operations are exposed to the effects of changes in foreign currency exchange rates related to inventory purchases. To manage these risks, Griffon may enter into various derivative contracts such as foreign currency exchange contracts, including forwards and options. As of December 31, 2023, Griffon entered into several such contracts in order to lock into a foreign currency rate for planned settlements of trade liabilities payable in U.S. dollars. At December 31, 2023, Griffon had $61,000 of Australian dollar contracts at a weighted average rate of $1.50 which qualified for hedge accounting (level 2 inputs). These hedges were all deemed effective as cash flow hedges with gains and losses related to changes in fair value deferred and recorded in Accumulated other comprehensive income (loss) ("AOCI") and Prepaid and other current assets, or Accrued liabilities, until settlement. Upon settlement, gains and losses are recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in Cost of goods and services ("COGS"). AOCI included deferred losses of $1,425 ($997, net of tax) at December 31, 2023. Upon settlement, gains of $525 were recorded in COGS during the three months ended December 31, 2023. All contracts expire in 30 to 240 days. At December 31, 2023, Griffon had $44,000 of Chinese Yuan contracts at a weighted average rate of $7.02 which qualified for hedge accounting (level 2 inputs). These hedges were all deemed effective as cash flow hedges with gains and losses related to changes in fair value deferred and recorded in AOCI and Prepaid and other current assets, or Accrued liabilities, until settlement. Upon settlement, gains and losses are recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) in COGS. AOCI included deferred losses of $307 ($224, net of tax) at December 31, 2023. Upon settlement, losses of $636 were recorded in COGS during the three months ended December 31, 2023. All contracts expire in 3 to 283 days. At December 31, 2023, Griffon had $6,580 of Canadian dollar contracts at a weighted average rate of $1.35. The contracts, which protect Canadian operations from currency fluctuations for U.S. dollar based purchases, do not qualify for hedge accounting. For the three months ended December 31, 2023, fair value losses of $103 were recorded to Other liabilities and to Other income for the outstanding contracts, based on similar contract values (level 2 inputs). Realized gains of $24 were recorded in Other income during the three months ended December 31, 2023 for all settled contracts. All contracts expire in 30 to 267 days.

v3.24.0.1

REVENUE	3 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The Company recognizes revenue when performance obligations identified under the terms of contracts with its customers are satisfied. A performance obligation is a promise in a contract to transfer a distinct good or service, or a bundle of goods or services, to the customer, and is the unit of accounting. A contract with a customer is an agreement which both parties have approved, that creates enforceable rights and obligations, has commercial substance and with respect to which payment terms are identified and collectability is probable. Once the Company has entered into a contract or purchase order, it is evaluated to identify performance obligations. For each performance obligation, revenue is recognized when control of the promised products is transferred to the customer, or services are satisfied under the contract or purchase order, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products or services (the transaction price). The Company’s performance obligations are recognized at a point in time related to the manufacture and sale of a broad range of products and components, and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer, which is generally upon shipment. For a complete explanation of Griffon’s revenue accounting policies, this note should be read in conjunction with Griffon’s Annual Report on Form 10-K for the year ended September 30, 2023. See Note 12 - Business Segments for revenue from contracts with customers disaggregated by end markets, segments and geographic location.

v3.24.0.1

INVENTORIES	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES   Inventories are stated at the lower of cost (first-in, first-out or average cost) or net realizable value.   The following table details the components of inventory: At December 31, 2023 At September 30, 2023 Raw materials and supplies $ 102,757  $ 127,342  Work in process 18,474  12,070  Finished goods 357,378  367,718  Total $ 478,609  $ 507,130    In connection with the Company's restructuring activities described in Note 16, Restructuring Charges, during the quarter ended December 31, 2023, CPP recorded an inventory impairment charge of $8,482 to adjust to net realizable value.

v3.24.0.1

PROPERTY, PLANT AND EQUIPMENT	3 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The following table details the components of property, plant and equipment, net: At December 31, 2023 At September 30, 2023 Land, building and building improvements $ 145,321  $ 169,923  Machinery and equipment 456,968  447,972  Leasehold improvements 34,043  33,740  636,332  651,635  Accumulated depreciation (367,203) (372,417) Total $ 269,129  $ 279,218  Depreciation expense for property, plant and equipment was $9,267 and $11,489 for the quarters ended December 31, 2023 and 2022, respectively. Depreciation included in Selling, general and administrative ("SG&A") expenses was $3,999 and $4,239 for the quarters ended December 31, 2023 and 2022, respectively. Remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services. In connection with the expansion of CPP's global sourcing strategy announced on May 3, 2023, 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. Except as described in Note 16, Restructuring Charges, no event or indicator of impairment occurred during the three months ended December 31, 2023 which would require additional impairment testing of property, plant and equipment.

v3.24.0.1

CREDIT LOSSES	3 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
CREDIT LOSSES	CREDIT LOSSES The Company is exposed to credit losses primarily through sales of products and services. Trade receivables are recorded at their stated amount, less allowances for discounts, credit losses and returns. The Company’s expected loss allowance methodology for trade receivables is primarily based on the aging method of the accounts receivables balances and the financial condition of its customers. The allowances represent estimated uncollectible receivables associated with potential customer defaults on contractual obligations (usually due to customers’ potential insolvency), discounts related to early payment of accounts receivables by customers and estimates for returns. The allowance for credit losses includes amounts for certain customers in which a risk of default has been specifically identified, as well as an amount for customer defaults, based on a formula, when it is determined the risk of some default is probable and estimable, but cannot yet be associated with specific customers. Allowance for discounts and returns are recorded as a reduction of revenue and the provision related to the allowance for credit losses is recorded in SG&A expenses. The Company also considers current and expected future economic and market conditions when determining any estimate of credit losses. Generally, estimates used to determine the allowance are based on assessment of anticipated payment and all other historical, current and future information that is reasonably available. All accounts receivable amounts are expected to be collected in less than one year. Based on a review of the Company's policies and procedures across all segments, including the aging of its trade receivables, recent write-off history and other factors related to future macroeconomic conditions, Griffon determined that its method to determine credit losses and the amount of its allowances for bad debts is in accordance with the accounting guidance for credit losses on financial instruments, including trade receivables, in all material respects. The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected: Three months ended December 31, 2023 2022 Beginning Balance, October 1 $ 11,264  $ 12,137  Provision for expected credit losses 1,030  1,457  Amounts written off charged against the allowance (351) (48) Other, primarily foreign currency translation 42  90  Ending Balance, December 31 $ 11,985  $ 13,636

v3.24.0.1

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.

v3.24.0.1

INCOME TAXES	3 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the quarter ended December 31, 2023, the Company recognized a tax provision of $17,965 on income before taxes of $60,142, compared to $19,318 on income before taxes of $68,020 in the prior year quarter. The current year quarter results included strategic review costs - retention and other of $4,658 ($3,500, net of tax), restructuring charges of $12,400 ($9,213, net of tax), gain on sale of building of $547 ($406, net of tax); and discrete and certain other tax provisions, net, that affect comparability of $783. The prior year quarter results included strategic review - retention and other of $8,232 ($6,222, net of tax); proxy costs of $1,503 ($1,153, net of tax); gain on the sale of building $10,852 ($8,323, net of tax); and discrete and certain other tax benefits, net, that affect comparability of $333. Excluding these items, the effective tax rates for the quarters ended December 31, 2023 and 2022 were 27.9% and 29.1%, respectively.

v3.24.0.1

LONG-TERM DEBT	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT       At December 31, 2023 At September 30, 2023      Outstanding Balance Original Issuer Premium/(Discount) Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Outstanding Balance Original Issuer Premium/(Discount) Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Senior notes due 2028 (a) $ 974,775  $ 206  (8,415) $ 966,566  5.75  % $ 974,775  $ 218  $ (8,920) $ 966,073  5.75  % Term Loan B due 2029 (b) 461,000  (880) (6,708) 453,412  Variable 463,000  (922) (7,039) 455,039  Variable Revolver due 2025 (b) 21,500  —  (3,419) 18,081  Variable 50,445  —  (3,606) 46,839  Variable Non US lines of credit (d) —  —  —  —  Variable —  —  (3) (3) Variable Other long term debt (e) 1,461  —  (11) 1,450  Variable 1,592  —  (11) 1,581  Variable Totals   1,458,736  (674) (18,553) 1,439,509    1,489,812  (704) (19,579) 1,469,529    less: Current portion   (9,274) —  —  (9,274)   (9,625) —  —  (9,625)   Long-term debt   $ 1,449,462  $ (674) $ (18,553) $ 1,430,235    $ 1,480,187  $ (704) $ (19,579) $ 1,459,904        Three Months Ended December 31, 2023 Three Months Ended December 31, 2022     Effective Interest Rate Cash Interest Amort. Debt (Premium)/Discount Amort. Debt Issuance Costs & Other Fees Total Interest Expense Effective Interest Rate Cash Interest Amort. Debt (Premium)/Discount Amort. Debt Issuance Costs & Other Fees Total Interest Expense Senior notes due 2028 (a) 5.9  % $ 14,012  $ (12) $ 505  $ 14,505  5.9  % $ 14,012  $ (12) $ 505  $ 14,505  Term Loan B due 2029 (b) 7.8  % 9,217  43  330  9,590  6.6  % 7,808  43  351  8,202  Revolver due 2025 (b) Variable 908  —  186  1,094  Variable 1,344  —  123  1,467  Finance lease - real estate (c) n/a —  —  —  —  5.6  % 178  —  —  178  Non US lines of credit (d) Variable —  —  4  4  Variable 155  —  13  168  Other long term debt (e) Variable 302  —  —  302  Variable 130  —  —  130  Capitalized interest     (196) —  —  (196)   (2) —  —  (2) Totals     $ 24,243  $ 31  $ 1,025  $ 25,299    $ 23,625  $ 31  $ 992  $ 24,648  (a)    During 2020, Griffon issued, at par, $1,000,000 of 5.75% Senior Notes due 2028 (the “2028 Senior Notes”). Proceeds from the 2028 Senior Notes were used to redeem $1,000,000 of 5.25% Senior Notes due 2022. In connection with the issuance and exchange of the 2028 Senior Notes, Griffon capitalized $16,448 of underwriting fees and other expenses incurred, which is being amortized over the term of such notes. During 2022, Griffon purchased $25,225 of 2028 Senior Notes in the open market at a weighted average discount of 91.82% of par, or $23,161. As of December 31, 2023, outstanding 2028 Senior Notes due totaled $974,775; interest is payable semi-annually on March 1 and September 1. The 2028 Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. The 2028 Senior Notes were registered under the Securities Act of 1933, as amended (the "Securities Act") via exchange offer. The fair value of the 2028 Senior Notes approximated $945,532 on December 31, 2023 based upon quoted market prices (level 1 inputs). At December 31, 2023, $8,415 of underwriting fees and other expenses incurred remained to be amortized. (b) On August 1, 2023, Griffon amended and restated its Credit Agreement (as amended, "Credit Agreement"). The amendment increased the maximum borrowing availability on its revolving credit facility from $400,000 to $500,000 (the "Revolver") and extended the maturity date of the Revolver from March 22, 2025 to August 1, 2028. In the event the 2028 Senior Notes are not repaid, refinanced, or replaced prior to December 1, 2027, the Revolver will mature on December 1, 2027. The amendment also modified certain other provisions of the Credit Agreement, including increasing the letter of credit sub-facility under the Revolver from $100,000 to $125,000 and increasing the customary accordion feature from a minimum of $375,000 to a minimum of $500,000. The Revolver also includes a multi-currency sub-facility of $200,000. Borrowings under the Revolver may be repaid and re-borrowed at any time. Interest is payable on borrowings at either a Secured Overnight Financing Rate ("SOFR"), Sterling Overnight Index Average ("SONIA") or base rate benchmark rate, plus an applicable margin, which adjusts based on financial performance. Griffon's SOFR loans accrue interest at TERM SOFR plus a credit adjustment spread and a margin of 2.00% (7.46% at December 31, 2023); SONIA loans accrue interest at SONIA Base Rate plus a credit adjustment spread and a margin of 2.00% (7.22% at December 31, 2023); and base rate loans accrue interest at prime rate plus a margin of 1.00% (9.50% at December 31, 2023). At December 31, 2023, under the Revolver, there were $21,500 in outstanding borrowings; outstanding standby letters of credit were $12,962; and $465,538 was available, subject to certain loan covenants, for borrowing at that date.     On January 24, 2022, Griffon amended and restated its Credit Agreement to provide for a new $800,000 Term Loan B facility, due January 24, 2029, in addition to the Revolver. The Term Loan B accrues interest at the Term SOFR rate plus a credit adjustment spread with a floor of 0.50%, and a spread of 2.25% (7.75% as of December 31, 2023). The Term Loan B was issued at 99.75% of par value. In connection with this amendment, Griffon capitalized $15,466 of underwriting fees and other expenses incurred, which are being amortized over the term of the loan. The Term Loan B facility requires nominal quarterly principal payments of $2,000, potential additional annual principal payments based on a percentage of excess cash flow and certain secured leverage thresholds starting with the fiscal year ending September 30, 2023; and a final balloon payment due at maturity. At September 30, 2023, Griffon's secured leverage remained below the threshold set forth in the Credit Agreement that would, if exceeded, require Griffon to make an additional payment, and therefore no additional annual principal payment was required. Term Loan B borrowings may generally be repaid without penalty but may not be re-borrowed. During 2023 and 2022, Griffon prepaid $25,000 and $300,000, respectively, aggregate principal amount of the Term Loan B, which permanently reduced the outstanding balance. In connection with the prepayment of the Term Loan B, Griffon recognized a charge of $437 and $6,296 on the prepayment of debt in 2023 and 2022, respectively. The charges were comprised of write-offs of underwriting fees and other expenses of $386 and $5,575 for 2023 and 2022, respectively, and the original issue discount of $51 and $721 for 2023 and 2022, respectively. The Term Loan B facility is subject to the same affirmative and negative covenants that apply to the Revolver (as described below), but is not subject to any financial maintenance covenants. Term Loan B borrowings are secured by the same collateral as the Revolver on an equal and ratable basis. The fair value of the Term Loan B facility approximated $462,153 on December 31, 2023 based upon quoted market prices (level 1 inputs). At December 31, 2023, $6,708 of underwriting fees and other expenses incurred, remained to be amortized. At December 31, 2023, $461,000 of the Term Loan B was outstanding. The Revolver has certain financial maintenance tests including a maximum total leverage ratio, a maximum senior secured leverage ratio and a minimum interest coverage ratio, as well as customary affirmative and negative covenants and events of default. The negative covenants place limits on Griffon's ability to, among other things, incur indebtedness, incur liens, and make restricted payments and investments. Both the Revolver and Term Loan B borrowings under the Credit Agreement are guaranteed by Griffon’s material domestic subsidiaries and are secured, on a first priority basis, by substantially all domestic assets of the Company and the guarantors, and a pledge of not greater than 65% of the equity interest in Griffon’s material, first-tier foreign subsidiaries. (c)    On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. The remaining lease liability balance relates to finance equipment leases. Refer to Note 20-Leases for further details. (d)     In November 2012, Garant G.P. (“Garant”), a Griffon wholly owned subsidiary, entered into a CAD 15,000 ($11,363 as of December 31, 2023) revolving credit facility. Effective in December 2023, the facility was amended to replace the Canadian Dollar Offer Rate with the Canadian Overnight Repo Rate Average ("CORRA"). The facility accrues interest at CORRA or the Bankers Acceptance Rate (CDN) plus 1.3% per annum (6.36% using CORRA and 6.53% using Bankers Acceptance Rate CDN as of December 31, 2023). The revolving facility matures in December 2024, but is renewable upon mutual agreement with the lender. Garant is required to maintain a certain minimum equity. At December 31, 2023, there were no outstanding borrowings under the revolving credit facility with CAD 15,000 ($11,363 as of December 31, 2023) available. During 2022, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries (collectively, "Griffon Australia") amended its AUD 18,375 term loan, AUD 20,000 revolver and AUD 15,000 receivable purchase facility agreement that was entered into in July 2016 and further amended in fiscal 2020. Griffon Australia paid off the term loan in the amount of AUD 9,625 and canceled the AUD 20,000 revolver. In March 2023 the existing receivable purchase facility was renewed and increased from AUD 15,000 to AUD 30,000. The receivable purchase facility matures in March 2024, but is renewable upon mutual agreement with the lender. The receivable purchase facility accrues interest at BBSY (Bank Bill Swap Rate) plus 1.25% per annum (5.56% at December 31, 2023). At December 31, 2023, there was no balance outstanding under the receivable purchase facility with AUD 30,000 ($20,511 as of December 31, 2023) available. The receivable purchase facility is secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level. In July 2018, the AMES Companies UK Ltd and its subsidiaries (collectively, "Ames UK") entered into a GBP 14,000 term loan, GBP 4,000 mortgage loan and GBP 5,000 revolver, which matured in July 2023. Prior to maturity, on June 30, 2023, AMES UK paid off and cancelled the GBP 14,000 term loan and GBP 4,000 mortgage loan. The payoff amounts were GBP 7,525 ($9,543) and GBP 2,451 ($3,108), respectively. Upon maturity in July 2023, the GBP 5,000 revolver had no balance and was not renewed. (e)     Other long-term debt primarily consists of a loan with the Pennsylvania Industrial Development Authority, with the balance consisting of finance leases. At December 31, 2023, Griffon and its subsidiaries were in compliance with the terms and covenants of all credit and loan agreements.

v3.24.0.1

SHAREHOLDERS' EQUITY AND EQUITY COMPENSATION	3 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY AND EQUITY COMPENSATION	SHAREHOLDERS’ EQUITY AND EQUITY COMPENSATION   During the three months ended December 31, 2023, the Company paid a quarterly cash dividend of $0.15 per share. During 2023, the Board of Directors approved two quarterly cash dividends each for $0.10 per share, and two quarterly cash dividends of $0.125 per share, totaling $0.45. Additionally, on April 19, 2023, the Board of Directors declared a special cash dividend of $2.00 per share, paid on May 19, 2023, to shareholders of record as of the close of business on May 9, 2023. The Company currently intends to pay dividends each quarter; however, payment of dividends is determined by the Board of Directors at its discretion based on various factors, and no assurance can be provided as to the payment of future dividends. Dividends paid on shares in the ESOP were used to offset ESOP compensation expense. For all dividends, a dividend payable is established for the holders of restricted shares; such dividends will be released upon vesting of the underlying restricted shares. On February 6, 2024, the Board of Directors declared a quarterly cash dividend of $0.15 per share, payable on March 21, 2024 to shareholders of record as of the close of business on February 29, 2024. On January 29, 2016, shareholders approved the Griffon Corporation 2016 Equity Incentive Plan (the "Original Incentive Plan") pursuant to which, among other things, awards of performance shares, performance units, stock options, stock appreciation rights, restricted shares, restricted stock units, deferred shares and other stock-based awards may be granted. On January 31, 2018, shareholders approved Amendment No. 1 to the Original Incentive Plan pursuant to which, among other things, 1,000,000 shares were added to the Original Incentive Plan; on January 30, 2020, shareholders approved Amendment No. 2 to the Original Incentive Plan, pursuant to which 1,700,000 shares were added to the Original Incentive Plan; and on February 17, 2022, shareholders approved the Amended and Restated 2016 Equity Incentive Plan (the “Amended Incentive Plan”), which amended and restated the Original Incentive Plan and pursuant to which, among other things, 1,200,000 shares were added to the Original Incentive Plan. A proposal to approve an amendment to add 2,600,000 shares to the Amended Incentive Plan (the “Amendment”) is included in Griffon’s Proxy Statement dated January 29, 2024 related to the 2024 Annual Meeting of Shareholders, scheduled to be held on March 20, 2024. If shareholders approve this proposal, 2,600,000 shares will be added to the Amended Incentive Plan as of the date of the 2024 Annual Meeting of Shareholders. Options granted under the Amended Incentive Plan may be either “incentive stock options” or nonqualified stock options, generally expire ten years after the date of grant and are granted at an exercise price of not less than 100% of the fair market value at the date of grant. The maximum number of shares of common stock available for award under the Amended Incentive Plan, before giving effect to the Amendment, is 6,250,000 (600,000 of which may be issued as incentive stock options), plus (i) any shares that were reserved for issuance under the Original Incentive Plan as of the effective date of the Original Incentive Plan, and (ii) any shares underlying awards outstanding on such date under the 2011 Incentive Plan that were subsequently canceled or forfeited. As of December 31, 2023, there were 154,369 shares available for grant. Compensation expense for restricted stock and restricted stock units is recognized ratably over the required service period based on the fair value of the grant, calculated as the number of shares or units granted multiplied by the stock price on the date of grant, and for performance shares, including performance units, the likelihood of achieving the performance criteria. The Company recognizes forfeitures as they occur. Compensation expense for restricted stock granted to two senior executives is calculated as the maximum number of shares granted, upon achieving certain performance criteria, multiplied by the stock price as valued by a Monte Carlo Simulation Model. Compensation cost related to stock-based awards with graded vesting, generally over a period of three to four years, is recognized using the straight-line attribution method and recorded within SG&A expenses. The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans: For the Three Months Ended December 31, 2023 2022 Restricted stock $ 5,028  $ 5,538  ESOP 1,389  1,204  Total stock-based compensation $ 6,417  $ 6,742  During the first quarter of 2024, Griffon granted 174,104 shares of restricted stock and restricted stock units ("RSUs"). This includes 166,272 shares of restricted stock and 7,832 RSUs granted to 43 executives and key employees, subject to certain performance conditions, with a vesting period of thirty-six months and a total fair value of $8,225, or a weighted average fair value of $47.24 per share. During the quarter ended December 31, 2023, 166,272 shares granted were issued out of treasury stock. On April 19, 2023, the Company's Board of Directors approved a $200,000 increase to Griffon's share repurchase program to $257,955 from the prior unused board authorizations of $57,955. Also, on November 15, 2023, Griffon announced that the Board of Directors approved an additional increase of $200,000 to its share repurchase authorization. Under the authorized share repurchase program, the Company may, from time to time, purchase shares of its common stock in the open market, including pursuant to a 10b5-1 plan, pursuant to an accelerated share repurchase program or issuer tender offer, or in privately negotiated transactions. Share repurchases during the quarter ended December 31, 2023 totaled 1,634,454 shares of common stock, for a total of $69,640, or an average of $42.61 per share. As of December 31, 2023, $237,543 remains under these Board authorized repurchase programs. During the quarter ended and as of December 31, 2023, $696 and $1,997, respectively, were accrued for excise taxes for share repurchases. During the quarter ended December 31, 2023, 221,229 shares, with a market value of $11,604, or $52.45 per share were withheld to settle employee taxes due upon the vesting of restricted stock, and were added to treasury stock.

v3.24.0.1

EARNINGS PER SHARE (EPS)	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (EPS)   Basic EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted EPS was calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding plus additional common shares that could be issued in connection with stock-based compensation.   The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share:   Three Months Ended December 31,   2023 2022 Common shares outstanding 51,386  57,186  Unallocated ESOP shares (154) (979) Non-vested restricted stock (2,783) (3,230) Impact of weighted average shares 335  (398) Weighted average shares outstanding - basic 48,784  52,579  Incremental shares from stock-based compensation 2,683  2,719  Weighted average shares outstanding - diluted 51,467  55,298  Shares of the ESOP that have been allocated to employee accounts are treated as outstanding in determining earnings per share.

v3.24.0.1

BUSINESS SEGMENTS	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS Griffon reports its operations through two reportable segments, as follows: •Home and Building Products ("HBP") conducts its operations through Clopay. Founded in 1964, Clopay is the largest manufacturer and marketer of garage doors and rolling steel doors in North America.  Residential and commercial sectional garage doors are sold through professional dealers and leading home center retail chains throughout North America under the brands Clopay, Ideal, and Holmes. Rolling steel door and grille products designed for commercial, industrial, institutional, and retail use are sold under the Cornell and Cookson brands. •Consumer and Professional Products (“CPP”) is a leading global provider of branded consumer and professional tools; residential, industrial and commercial fans; home storage and organization products; and products that enhance indoor and outdoor lifestyles. CPP sells products globally through a portfolio of leading brands including AMES, since 1774, Hunter, since 1886, True Temper, and ClosetMaid. 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  Disaggregation of Revenue Revenue from contracts with customers is disaggregated by end markets, segments and geographic location, as it more accurately depicts the nature and amount of the Company’s revenue. 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  Griffon evaluates performance and allocates resources based on segment adjusted EBITDA and adjusted EBITDA, non-GAAP measures, which is defined as income before taxes, excluding interest income and expense, depreciation and amortization, strategic review charges, non-cash impairment charges, restructuring charges, gain/loss from debt extinguishment and acquisition related expenses, as well as other items that may affect comparability, as applicable. Segment adjusted EBITDA also excludes unallocated amounts, mainly corporate overhead. Griffon believes this information is useful to investors for the same reason. 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.

v3.24.0.1

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Defined benefit pension expense (income) included in Other Income (Expense), net was as follows:   Three Months Ended December 31,   2023 2022 Interest cost $ 1,888  $ 1,825  Expected return on plan assets (2,543) (2,553) Amortization:     Recognized actuarial loss 689  944  Net periodic expense $ 34  $ 216

v3.24.0.1

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. This standard expands disclosures regarding a public entity’s reportable segments and requires additional information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The standard does not change the definition of operating segments. This standard is effective for the Company beginning with our fiscal year 2025, with early adoption permitted. The Company is currently evaluating the potential changes to its reportable segment disclosures and related impact on its business and financial reporting processes and information technology systems. The Company does not expect the adoption of this standard to have an impact on its financial position, results of operations, or cash flows. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosure. The standard requires significant additional disclosures focused on income taxes paid and the rate reconciliation table. Specifically, the amendments in the standard require the Company to disclose disaggregated: (1) income taxes paid by federal, state, and foreign taxes on both an interim and annual basis, (2) pre-tax income between domestic and foreign, and (3) income tax expense by federal, state and foreign tax expense. The standard also requires the Company to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This standard is effective for the Company beginning with our fiscal year 2026, with retrospective application permitted. The Company is currently evaluating the potential changes to its income tax disclosures and related impact on its financial reporting processes and information technology systems. The Company does not expect the adoption of this standard to have an impact on its financial position, results of operations, or cash flows. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements, and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

v3.24.0.1

DISCONTINUED OPERATIONS	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS At December 31, 2023 and September 30, 2023, Griffon’s liabilities for discontinued operations primarily relate to insurance claims, income taxes, product liability, warranty and environmental reserves total $8,703 and $11,798, respectively. The following amounts summarize the total assets and liabilities which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations in the Condensed Consolidated Balance Sheets: At December 31, 2023 At September 30, 2023 Assets of discontinued operations: Prepaid and other current assets $ 984  $ 1,001  Other long-term assets 4,138  4,290  Total assets of discontinued operations $ 5,122  $ 5,291  Liabilities of discontinued operations:     Accrued liabilities, current $ 4,216  $ 7,148  Other long-term liabilities 4,487  4,650  Total liabilities of discontinued operations $ 8,703  $ 11,798  There was no reported revenues or costs in the three months ended December 31, 2023 and 2022 for discontinued operations.

v3.24.0.1

RESTRUCTURING CHARGES	3 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES In response to changing market conditions, Griffon announced in May 2023 that CPP is expanding its global sourcing strategy to include long handled tools, material handling, and wood storage and organization product lines. By transitioning these product lines to an asset-light structure, CPP’s operations will be better positioned to serve customers with a more flexible and cost-effective sourcing model that leverages supplier relationships around the world, while improving its competitive positioning in a post-pandemic marketplace. The global sourcing strategy expansion is expected to be complete by the end of calendar 2024. Over that period, CPP expects to reduce its facility footprint by approximately 1.2 million square feet, or approximately 15% of CPP's square footage, and its headcount by approximately 600. Operations have ceased at Camp Hill and Harrisburg, PA; Fairfield, IA; and four wood mills. The final facility, in Grantsville, MD, is expected to close by March 2024. The closed locations, totaling a net book value of $15,010, have met the held for sale criteria and have been classified as such on our Balance Sheet as of December 31, 2023. Implementation of this strategy over the duration of the project will result in charges of $120,000 to $130,000, including $50,000 to $55,000 of cash charges for employee retention and severance, operational transition, and facility and lease exit costs, and $70,000 to $75,000 of non-cash charges primarily related to asset write-downs. Capital investment in the range of $3,000 to $5,000 will also be required. These costs exclude cash proceeds from the sale of real estate and equipment, which are expected to largely offset the cash charges, and also exclude inefficiencies due to duplicative labor costs and absorption impacts during transition. In the quarter ended December 31, 2023, CPP incurred pre-tax restructuring and related exit costs approximating $12,400. During the quarter ended December 31, 2023, cash charges totaled $3,918 and non-cash, asset-related charges totaled $8,482. The cash charges included $1,847 for one-time termination benefits and other personnel-related costs and $2,071 for facility exit costs. Non-cash charges of $8,482 were recorded to adjust inventory to net realizable value. A summary of the restructuring and other related charges included in Cost of goods and services and SG&A expenses in the Company's Condensed Consolidated Statements of Operations were as follows: For the Three Months Ended December 31, 2023 Cost of goods and services $ 11,646  Selling, general and administrative expenses 754  Total restructuring charges $ 12,400  For the Three Months Ended December 31, 2023 Personnel related costs $ 1,847  Facilities, exit costs and other 2,071  Non-cash facility and other 8,482  Total $ 12,400  The following tables summarizes the accrued liabilities of the Company's restructuring actions for the three months ended December 31, 2023: Cash Charges Non-Cash Personnel related costs Facilities & Exit Costs Facility and Other Costs(1) Total Accrued liability at September 30, 2023 $ 14,107  $ 5,551  $ —  $ 19,658  Restructuring charges 1,847  2,071  8,482  12,400  Cash payments (7,215) (3,362) —  (10,577) Non-cash charges —  —  (8,482) (8,482) Accrued liability at December 31, 2023 $ 8,739  $ 4,260  $ —  $ 12,999  ___________________ (1) Non-cash charges in Facility and Other Costs represent non-cash impairment charges to adjust inventory to net realizable value.

v3.24.0.1

OTHER INCOME (EXPENSE)	3 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE)	OTHER INCOME (EXPENSE)   For the quarters ended December 31, 2023 and 2022, Other income (expense) of $632 and $607, respectively, includes $13 and $67, respectively, of net currency exchange gains in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries, net periodic benefit plan expense of $34 and $216, respectively, and net investment income of $56 and $33, respectively. Other income (expense) also includes rental income of $0 and $212 and royalty income of $592 and $549 for the three months ended December 31, 2023 and 2022, respectively.

v3.24.0.1

WARRANTY LIABILITY	3 Months Ended
	Dec. 31, 2023
Product Warranties Disclosures [Abstract]
WARRANTY LIABILITY	WARRANTY LIABILITY   HBP and CPP offer warranties against product defects for periods generally ranging from one to ten years, with limited lifetime warranties on certain door and fan models. Typical warranties require HBP and CPP to repair or replace the defective products during the warranty period at no cost to the customer. At the time revenue is recognized, Griffon records a liability for warranty costs, estimated based on historical experience, and periodically assesses its warranty obligations and adjusts the liability as necessary. CPP offers an express limited warranty for a period of ninety days on all products from the date of original purchase unless otherwise stated on the product or packaging from the date of original purchase. Warranty costs expected to be incurred in the next 12 months are classified in accrued liabilities. Warranty costs expected to be incurred beyond one year are classified in other long-term liabilities. The current portion of warranty was $15,461 as of December 31, 2023 and $20,781 as of September 30, 2023. The long-term warranty liability was $1,239 at both December 31, 2023 and September 30, 2023. Changes in Griffon’s warranty liability in accrued liabilities for the three months ended December 31, 2023 and 2022 were as follows:   Three Months Ended December 31,   2023 2022 Balance, beginning of period $ 20,781  $ 16,786  Warranties issued and changes in estimated pre-existing warranties 940  4,667  Actual warranty costs incurred (6,260) (3,754) Balance, end of period $ 15,461  $ 17,699

v3.24.0.1

OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Dec. 31, 2023
Other Comprehensive Income (Loss), Net of Tax, Alternative [Abstract]
OTHER COMPREHENSIVE INCOME (LOSS)	OTHER COMPREHENSIVE INCOME (LOSS)   The amounts recognized in other comprehensive income (loss) were as follows: For the Three Months Ended December 31,   2023 2022   Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ 10,238  $ —  $ 10,238  $ 11,937  $ —  $ 11,937  Pension and other defined benefit plans 673  (141) 532  1,088  (226) 862  Cash flow hedges (421) 126  (295) (829) 249  (580) Total other comprehensive income (loss) $ 10,490  $ (15) $ 10,475  $ 12,196  $ 23  $ 12,219  The components of Accumulated other comprehensive income (loss) are as follows: At December 31, 2023 At September 30, 2023 Foreign currency translation adjustments $ (38,485) $ (48,723) Pension and other defined benefit plans (20,133) (20,665) Cash flow hedges (917) (622) Total $ (59,535) $ (70,010) Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows:   For the Three Months Ended December 31, Gain (Loss) 2023 2022 Pension amortization $ (689) $ (944) Cash flow hedges (111) 1,004  Total gain (loss) before tax $ (800) $ 60  Tax benefit (expense) 168  (13) Net of tax $ (632) $ 47

v3.24.0.1

LEASES	3 Months Ended
	Dec. 31, 2023
Leases [Abstract]
LEASES	LEASES The Company recognizes right-of-use ("ROU") assets and lease liabilities on the balance sheet, with the exception of leases with a term of twelve months or less. The Company determines if an arrangement is a lease at inception. The ROU assets and short and long-term liabilities associated with our Operating leases are shown as separate line items on our Condensed Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, net, other accrued liabilities, and other non-current liabilities. The Company's finance leases are immaterial. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments primarily include rent and insurance costs (lease components). The Company's leases also include non-lease components such as real estate taxes and common-area maintenance costs. The Company elected the practical expedient to account for lease and non-lease components as a single component. In certain of the Company's leases, the non-lease components are variable and in accordance with the standard are therefore excluded from lease payments to determine the ROU asset. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our determination of the lease term may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less (a "Short-term" lease), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. Components of operating lease costs are as follows: For the Three Months Ended December 31, 2023 2022 Fixed $ 11,574  $ 11,294  Variable (a), (b) 2,474  2,772  Short-term (b) 1,581  2,204  Total $ 15,629  $ 16,270  ________________ (a) Primarily relates to common-area maintenance and property taxes. (b) Not recorded on the balance sheet. Supplemental cash flow information were as follows: For the Three Months Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,072  $ 9,623  Financing cash flows from finance leases 114  744  Total $ 11,186  $ 10,367  Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows: December 31, 2023 September 30, 2023 Operating Leases: Right of use assets: Operating right-of-use assets $ 176,100  $ 169,942  Lease Liabilities: Current portion of operating lease liabilities $ 34,075  $ 32,632  Long-term operating lease liabilities 152,343  147,224  Total operating lease liabilities $ 186,418  $ 179,856  Finance Leases: Property, plant and equipment, net(1) $ 899  $ 994  Lease Liabilities: Notes payable and current portion of long-term debt $ 209  $ 280  Long-term debt, net 153  184  Total financing lease liabilities $ 362  $ 464  (1) Finance lease assets are recorded net of accumulated depreciation of $1,645 and $6,769 as of December 31, 2023 and September 30, 2023, respectively. On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. The remaining lease liability balance relates to finance equipment leases. The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2023 are as follows (in thousands): Operating Leases Finance Leases 2024(a) $ 34,061  $ 187  2025 39,247  125  2026 30,446  66  2027 25,633  4  2028 20,788  —  2029 16,317  —  Thereafter 69,128  —  Total lease payments $ 235,620  $ 382  Less: Imputed Interest (49,202) (20) Present value of lease liabilities $ 186,418  $ 362  (a) Excluding the quarter ended December 31, 2023. Average lease terms and discount rates at December 31, 2023 were as follows: Weighted-average remaining lease term (years):     Operating leases 7.6     Finance Leases 3.3 Weighted-average discount rate:     Operating Leases 6.11  %     Finance Leases 5.83  %
LEASES	LEASES The Company recognizes right-of-use ("ROU") assets and lease liabilities on the balance sheet, with the exception of leases with a term of twelve months or less. The Company determines if an arrangement is a lease at inception. The ROU assets and short and long-term liabilities associated with our Operating leases are shown as separate line items on our Condensed Consolidated Balance Sheets. Finance leases are included in property, plant, and equipment, net, other accrued liabilities, and other non-current liabilities. The Company's finance leases are immaterial. ROU assets, along with any other related long-lived assets, are periodically evaluated for impairment. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments primarily include rent and insurance costs (lease components). The Company's leases also include non-lease components such as real estate taxes and common-area maintenance costs. The Company elected the practical expedient to account for lease and non-lease components as a single component. In certain of the Company's leases, the non-lease components are variable and in accordance with the standard are therefore excluded from lease payments to determine the ROU asset. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our determination of the lease term may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. For operating leases, fixed lease payments are recognized as operating lease cost on a straight-line basis over the lease term. For finance leases and impaired operating leases, the ROU asset is depreciated on a straight-line basis over the remaining lease term, along with recognition of interest expense associated with accretion of the lease liability. For leases with a lease term of 12 months or less (a "Short-term" lease), any fixed lease payments are recognized on a straight-line basis over such term, and are not recognized on the Condensed Consolidated Balance Sheets. Variable lease cost for both operating and finance leases, if any, is recognized as incurred. Components of operating lease costs are as follows: For the Three Months Ended December 31, 2023 2022 Fixed $ 11,574  $ 11,294  Variable (a), (b) 2,474  2,772  Short-term (b) 1,581  2,204  Total $ 15,629  $ 16,270  ________________ (a) Primarily relates to common-area maintenance and property taxes. (b) Not recorded on the balance sheet. Supplemental cash flow information were as follows: For the Three Months Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,072  $ 9,623  Financing cash flows from finance leases 114  744  Total $ 11,186  $ 10,367  Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows: December 31, 2023 September 30, 2023 Operating Leases: Right of use assets: Operating right-of-use assets $ 176,100  $ 169,942  Lease Liabilities: Current portion of operating lease liabilities $ 34,075  $ 32,632  Long-term operating lease liabilities 152,343  147,224  Total operating lease liabilities $ 186,418  $ 179,856  Finance Leases: Property, plant and equipment, net(1) $ 899  $ 994  Lease Liabilities: Notes payable and current portion of long-term debt $ 209  $ 280  Long-term debt, net 153  184  Total financing lease liabilities $ 362  $ 464  (1) Finance lease assets are recorded net of accumulated depreciation of $1,645 and $6,769 as of December 31, 2023 and September 30, 2023, respectively. On September 28, 2023, the Company closed on the exercise of its lease purchase option, as permitted under the lease agreement, to acquire ownership of the manufacturing facility located in Ocala, Florida for a cash purchase price of $23,207. The Ocala lease had a maturity date in 2025 and bore interest at a fixed rate of approximately 5.6%. As a result of exercising the purchase option, the Company no longer has any future lease obligations related to this real estate. The remaining lease liability balance relates to finance equipment leases. The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2023 are as follows (in thousands): Operating Leases Finance Leases 2024(a) $ 34,061  $ 187  2025 39,247  125  2026 30,446  66  2027 25,633  4  2028 20,788  —  2029 16,317  —  Thereafter 69,128  —  Total lease payments $ 235,620  $ 382  Less: Imputed Interest (49,202) (20) Present value of lease liabilities $ 186,418  $ 362  (a) Excluding the quarter ended December 31, 2023. Average lease terms and discount rates at December 31, 2023 were as follows: Weighted-average remaining lease term (years):     Operating leases 7.6     Finance Leases 3.3 Weighted-average discount rate:     Operating Leases 6.11  %     Finance Leases 5.83  %

v3.24.0.1

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES   Legal and environmental Peekskill Site. Lightron Corporation (“Lightron”), a wholly-owned subsidiary of Griffon, once conducted lamp manufacturing and metal finishing operations at a location in the Town of Cortlandt, New York, just outside the city of Peekskill, New York (the “Peekskill Site”) which was owned by ISC Properties, Inc. (“ISCP”), a wholly-owned subsidiary of Griffon, for approximately three years. ISCP sold the Peekskill Site in November 1982. Based upon studies conducted by ISCP and the New York Department of Environmental Conservation, soils and groundwater beneath the Peekskill Site contain chlorinated solvents and metals. Stream sediments downgradient from the Peekskill Site also contain metals. On May 15, 2019 the United States Environmental Protection Agency ("EPA") added the Peekskill Site to the National Priorities List under CERCLA and has since reached agreement with Lightron and ISCP pursuant to which Lightron and ISCP will perform a Remedial Investigation/Feasibility Study (“RI/FS”). Performance of the RI/FS is expected to be completed in calendar 2024/2025. Lightron has not engaged in any operations in over three decades. ISCP functioned solely as a real estate holding company and has not held any real property in over three decades. Griffon does not acknowledge any responsibility to perform any investigation or remediation at the Peekskill Site. One of Griffon’s insurers is defending Lightron, ISCP and Griffon subject to a reservation of rights and is paying the costs of the RI/FS. Memphis, TN site. Hunter Fan Company (“Hunter”) operated headquarters and a production plant in Memphis, TN for over 50 years (the “Memphis Site”). While Hunter completed certain on-site remediation of PCB-contaminated soils, Hunter did not investigate the extent to which PCBs existed beneath the building itself nor determine whether off-site areas had been impacted. Hunter vacated the site approximately twenty years ago, and the on-site buildings have now been demolished. The State of Tennessee Department of Environment and Conservation (“TDEC”) identified the Memphis site as being potentially contaminated, raising the possibility that site operations could have resulted in soil and groundwater contamination involving volatile organic compounds and metals. In 2021, the TDEC performed a preliminary assessment of the site and recommended to the United States Environmental Protection Agency (“EPA”) that it include the site on the National Priorities List established under CERCLA. The TDEC further recommended that the EPA fund an investigation of potential soil gas contamination in receptors near the site. The TDEC has also indicated that it will proceed with this investigation if the EPA does not act. It is unknown whether the EPA will add the Memphis Site to the National Priorities List, whether a site investigation will reveal contamination and, if there is contamination, the extent of any such contamination. However, given that certain PCB work was not completed in the past and the TDEC’s stated intent for the EPA to perform an investigation (and the statement by the TDEC that it will perform the investigation if the EPA will not), liability is probable in this matter. There are other potentially responsible parties for this site, including a former owner of Hunter; Hunter has notified such former owner of this matter, which may have certain liability for any required remediation. If the EPA decides to add this site to the National Priorities List, a Remedial Investigation/Feasibility Study (“RI/FS”) will be required. Hunter expects that the EPA will ask it to perform this work. If Hunter does not reach an agreement with the EPA to perform this work, the EPA will implement the RI/FS on its own. Should the EPA implement the RI/FS or perform further studies and/or subsequently remediate the site without first reaching an agreement with one or more relevant parties, the EPA would likely seek reimbursement from such parties, including Hunter, for the costs incurred. General legal Griffon is subject to various laws and regulations relating to the protection of the environment and is a party to legal proceedings arising in the ordinary course of business. Management believes, based on facts presently known to it, that the resolution of the matters above and such other matters will not have a material adverse effect on Griffon’s consolidated financial position, results of operations or cash flows.

v3.24.0.1

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 42,177	$ 48,702

v3.24.0.1

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

v3.24.0.1

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation   The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information, and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not include all the information and footnotes required by US GAAP for complete financial statements. As such, they should be read together with Griffon’s Annual Report on Form 10-K for the fiscal year ended September 30, 2023, which provides a more complete explanation of Griffon’s accounting policies, financial position, operating results, business, properties and other matters. In the opinion of management, these financial statements reflect all adjustments considered necessary for a fair statement of interim results. Griffon’s businesses are seasonal; for this and other reasons, the financial results of the Company for any interim period are not necessarily indicative of the results for the full year.   The condensed consolidated balance sheet information at September 30, 2023 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2023.   The condensed consolidated financial statements include the accounts of Griffon and all subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. These estimates may be adjusted due to changes in economic, industry or customer financial conditions, as well as changes in technology or demand. Significant estimates include expected loss allowances for credit losses and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, assumptions associated with pension benefit obligations and income or expenses, useful lives associated with depreciation and amortization of intangible and fixed assets, warranty reserves, sales incentive accruals, assumption associated with stock based compensation valuation, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves, the valuation of assets and liabilities of discontinued operations, assumptions associated with valuation of acquired assets and assumed liabilities of acquired companies and the accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions Griffon may undertake in the future. Actual results may ultimately differ from these estimates.
Fair Value Measurements	The carrying values of cash and equivalents, accounts receivable, accounts and notes payable, and revolving credit and variable interest rate debt approximate fair value due to either the short-term nature of such instruments or the fact that the interest rate of the revolving credit and variable rate debt is based upon current market rates. Applicable accounting guidance establishes a fair value hierarchy requiring the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement. The accounting guidance establishes three levels of inputs that may be used to measure fair value, as follows: •Level 1 inputs are measured and recorded at fair value based upon quoted prices in active markets for identical assets. •Level 2 inputs include inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets and liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of assets or liabilities. •Level 3 inputs are unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
Inventories	Inventories are stated at the lower of cost (first-in, first-out or average cost) or net realizable value.
Recent Accounting Pronouncements	In November 2023, the Financial Accounting Standards Board ("FASB") issued ASU No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures. This standard expands disclosures regarding a public entity’s reportable segments and requires additional information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The standard does not change the definition of operating segments. This standard is effective for the Company beginning with our fiscal year 2025, with early adoption permitted. The Company is currently evaluating the potential changes to its reportable segment disclosures and related impact on its business and financial reporting processes and information technology systems. The Company does not expect the adoption of this standard to have an impact on its financial position, results of operations, or cash flows. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740), Improvements to Income Tax Disclosure. The standard requires significant additional disclosures focused on income taxes paid and the rate reconciliation table. Specifically, the amendments in the standard require the Company to disclose disaggregated: (1) income taxes paid by federal, state, and foreign taxes on both an interim and annual basis, (2) pre-tax income between domestic and foreign, and (3) income tax expense by federal, state and foreign tax expense. The standard also requires the Company to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This standard is effective for the Company beginning with our fiscal year 2026, with retrospective application permitted. The Company is currently evaluating the potential changes to its income tax disclosures and related impact on its financial reporting processes and information technology systems. The Company does not expect the adoption of this standard to have an impact on its financial position, results of operations, or cash flows. The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements, and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

v3.24.0.1

INVENTORIES (Tables)	3 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table details the components of inventory: At December 31, 2023 At September 30, 2023 Raw materials and supplies $ 102,757  $ 127,342  Work in process 18,474  12,070  Finished goods 357,378  367,718  Total $ 478,609  $ 507,130

v3.24.0.1

PROPERTY, PLANT AND EQUIPMENT (Tables)	3 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following table details the components of property, plant and equipment, net: At December 31, 2023 At September 30, 2023 Land, building and building improvements $ 145,321  $ 169,923  Machinery and equipment 456,968  447,972  Leasehold improvements 34,043  33,740  636,332  651,635  Accumulated depreciation (367,203) (372,417) Total $ 269,129  $ 279,218

v3.24.0.1

CREDIT LOSSES (Tables)	3 Months Ended
	Dec. 31, 2023
Credit Loss [Abstract]
Schedule of Accounts Receivable, Allowance for Credit Losses	The following table provides a roll-forward of the allowance for credit losses that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected: Three months ended December 31, 2023 2022 Beginning Balance, October 1 $ 11,264  $ 12,137  Provision for expected credit losses 1,030  1,457  Amounts written off charged against the allowance (351) (48) Other, primarily foreign currency translation 42  90  Ending Balance, December 31 $ 11,985  $ 13,636

v3.24.0.1

GOODWILL AND OTHER INTANGIBLES (Tables)	3 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Value of Goodwill	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
Schedule of Gross Carrying Value and Accumulated Amortization of Intangible Assets	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

v3.24.0.1

LONG-TERM DEBT (Tables)	3 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	At December 31, 2023 At September 30, 2023      Outstanding Balance Original Issuer Premium/(Discount) Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Outstanding Balance Original Issuer Premium/(Discount) Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Senior notes due 2028 (a) $ 974,775  $ 206  (8,415) $ 966,566  5.75  % $ 974,775  $ 218  $ (8,920) $ 966,073  5.75  % Term Loan B due 2029 (b) 461,000  (880) (6,708) 453,412  Variable 463,000  (922) (7,039) 455,039  Variable Revolver due 2025 (b) 21,500  —  (3,419) 18,081  Variable 50,445  —  (3,606) 46,839  Variable Non US lines of credit (d) —  —  —  —  Variable —  —  (3) (3) Variable Other long term debt (e) 1,461  —  (11) 1,450  Variable 1,592  —  (11) 1,581  Variable Totals   1,458,736  (674) (18,553) 1,439,509    1,489,812  (704) (19,579) 1,469,529    less: Current portion   (9,274) —  —  (9,274)   (9,625) —  —  (9,625)   Long-term debt   $ 1,449,462  $ (674) $ (18,553) $ 1,430,235    $ 1,480,187  $ (704) $ (19,579) $ 1,459,904
Schedule of Interest Expense Incurred	Three Months Ended December 31, 2023 Three Months Ended December 31, 2022     Effective Interest Rate Cash Interest Amort. Debt (Premium)/Discount Amort. Debt Issuance Costs & Other Fees Total Interest Expense Effective Interest Rate Cash Interest Amort. Debt (Premium)/Discount Amort. Debt Issuance Costs & Other Fees Total Interest Expense Senior notes due 2028 (a) 5.9  % $ 14,012  $ (12) $ 505  $ 14,505  5.9  % $ 14,012  $ (12) $ 505  $ 14,505  Term Loan B due 2029 (b) 7.8  % 9,217  43  330  9,590  6.6  % 7,808  43  351  8,202  Revolver due 2025 (b) Variable 908  —  186  1,094  Variable 1,344  —  123  1,467  Finance lease - real estate (c) n/a —  —  —  —  5.6  % 178  —  —  178  Non US lines of credit (d) Variable —  —  4  4  Variable 155  —  13  168  Other long term debt (e) Variable 302  —  —  302  Variable 130  —  —  130  Capitalized interest     (196) —  —  (196)   (2) —  —  (2) Totals     $ 24,243  $ 31  $ 1,025  $ 25,299    $ 23,625  $ 31  $ 992  $ 24,648

v3.24.0.1

SHAREHOLDERS' EQUITY AND EQUITY COMPENSATION (Tables)	3 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Compensation Expense Relating to Stock-based Incentive Plans	The following table summarizes the Company’s compensation expense relating to all stock-based incentive plans: For the Three Months Ended December 31, 2023 2022 Restricted stock $ 5,028  $ 5,538  ESOP 1,389  1,204  Total stock-based compensation $ 6,417  $ 6,742

v3.24.0.1

EARNINGS PER SHARE (EPS) (Tables)	3 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Share Amounts Used in Earnings Per Share	The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share:   Three Months Ended December 31,   2023 2022 Common shares outstanding 51,386  57,186  Unallocated ESOP shares (154) (979) Non-vested restricted stock (2,783) (3,230) Impact of weighted average shares 335  (398) Weighted average shares outstanding - basic 48,784  52,579  Incremental shares from stock-based compensation 2,683  2,719  Weighted average shares outstanding - diluted 51,467  55,298

v3.24.0.1

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
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

v3.24.0.1

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Included in Other Income	Defined benefit pension expense (income) included in Other Income (Expense), net was as follows:   Three Months Ended December 31,   2023 2022 Interest cost $ 1,888  $ 1,825  Expected return on plan assets (2,543) (2,553) Amortization:     Recognized actuarial loss 689  944  Net periodic expense $ 34  $ 216

v3.24.0.1

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures	The following amounts summarize the total assets and liabilities which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations in the Condensed Consolidated Balance Sheets: At December 31, 2023 At September 30, 2023 Assets of discontinued operations: Prepaid and other current assets $ 984  $ 1,001  Other long-term assets 4,138  4,290  Total assets of discontinued operations $ 5,122  $ 5,291  Liabilities of discontinued operations:     Accrued liabilities, current $ 4,216  $ 7,148  Other long-term liabilities 4,487  4,650  Total liabilities of discontinued operations $ 8,703  $ 11,798

v3.24.0.1

RESTRUCTURING CHARGES (Tables)	3 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of the Restructuring and Other Related Charges	A summary of the restructuring and other related charges included in Cost of goods and services and SG&A expenses in the Company's Condensed Consolidated Statements of Operations were as follows: For the Three Months Ended December 31, 2023 Cost of goods and services $ 11,646  Selling, general and administrative expenses 754  Total restructuring charges $ 12,400  For the Three Months Ended December 31, 2023 Personnel related costs $ 1,847  Facilities, exit costs and other 2,071  Non-cash facility and other 8,482  Total $ 12,400
Schedule of Accrued Liability for the Restructuring and Related Charges	The following tables summarizes the accrued liabilities of the Company's restructuring actions for the three months ended December 31, 2023: Cash Charges Non-Cash Personnel related costs Facilities & Exit Costs Facility and Other Costs(1) Total Accrued liability at September 30, 2023 $ 14,107  $ 5,551  $ —  $ 19,658  Restructuring charges 1,847  2,071  8,482  12,400  Cash payments (7,215) (3,362) —  (10,577) Non-cash charges —  —  (8,482) (8,482) Accrued liability at December 31, 2023 $ 8,739  $ 4,260  $ —  $ 12,999  ___________________ (1) Non-cash charges in Facility and Other Costs represent non-cash impairment charges to adjust inventory to net realizable value.

v3.24.0.1

WARRANTY LIABILITY (Tables)	3 Months Ended
	Dec. 31, 2023
Product Warranties Disclosures [Abstract]
Schedule of Changes in Warranty Liability, Included in Accrued Liabilities	Changes in Griffon’s warranty liability in accrued liabilities for the three months ended December 31, 2023 and 2022 were as follows:   Three Months Ended December 31,   2023 2022 Balance, beginning of period $ 20,781  $ 16,786  Warranties issued and changes in estimated pre-existing warranties 940  4,667  Actual warranty costs incurred (6,260) (3,754) Balance, end of period $ 15,461  $ 17,699

v3.24.0.1

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Dec. 31, 2023
Other Comprehensive Income (Loss), Net of Tax, Alternative [Abstract]
Schedule of Comprehensive Income (Loss)	The amounts recognized in other comprehensive income (loss) were as follows: For the Three Months Ended December 31,   2023 2022   Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ 10,238  $ —  $ 10,238  $ 11,937  $ —  $ 11,937  Pension and other defined benefit plans 673  (141) 532  1,088  (226) 862  Cash flow hedges (421) 126  (295) (829) 249  (580) Total other comprehensive income (loss) $ 10,490  $ (15) $ 10,475  $ 12,196  $ 23  $ 12,219  The components of Accumulated other comprehensive income (loss) are as follows: At December 31, 2023 At September 30, 2023 Foreign currency translation adjustments $ (38,485) $ (48,723) Pension and other defined benefit plans (20,133) (20,665) Cash flow hedges (917) (622) Total $ (59,535) $ (70,010)
Schedule Reclassification from Accumulated Other Comprehensive Income (Loss)	Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows:   For the Three Months Ended December 31, Gain (Loss) 2023 2022 Pension amortization $ (689) $ (944) Cash flow hedges (111) 1,004  Total gain (loss) before tax $ (800) $ 60  Tax benefit (expense) 168  (13) Net of tax $ (632) $ 47

v3.24.0.1

LEASES (Tables)	3 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Operating Lease Cost, Cash Flow Information, and Average Lease Terms and Discount Rates	Components of operating lease costs are as follows: For the Three Months Ended December 31, 2023 2022 Fixed $ 11,574  $ 11,294  Variable (a), (b) 2,474  2,772  Short-term (b) 1,581  2,204  Total $ 15,629  $ 16,270  ________________ (a) Primarily relates to common-area maintenance and property taxes. (b) Not recorded on the balance sheet. Supplemental cash flow information were as follows: For the Three Months Ended December 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,072  $ 9,623  Financing cash flows from finance leases 114  744  Total $ 11,186  $ 10,367  Average lease terms and discount rates at December 31, 2023 were as follows: Weighted-average remaining lease term (years):     Operating leases 7.6     Finance Leases 3.3 Weighted-average discount rate:     Operating Leases 6.11  %     Finance Leases 5.83  %
Schedule of Supplemental Condensed Consolidated Balance Sheet Information	Supplemental Condensed Consolidated Balance Sheet information related to leases were as follows: December 31, 2023 September 30, 2023 Operating Leases: Right of use assets: Operating right-of-use assets $ 176,100  $ 169,942  Lease Liabilities: Current portion of operating lease liabilities $ 34,075  $ 32,632  Long-term operating lease liabilities 152,343  147,224  Total operating lease liabilities $ 186,418  $ 179,856  Finance Leases: Property, plant and equipment, net(1) $ 899  $ 994  Lease Liabilities: Notes payable and current portion of long-term debt $ 209  $ 280  Long-term debt, net 153  184  Total financing lease liabilities $ 362  $ 464  (1) Finance lease assets are recorded net of accumulated depreciation of $1,645 and $6,769 as of December 31, 2023 and September 30, 2023, respectively.
Schedule of Aggregate Future Maturities of Lease Payments for Operating Leases	The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2023 are as follows (in thousands): Operating Leases Finance Leases 2024(a) $ 34,061  $ 187  2025 39,247  125  2026 30,446  66  2027 25,633  4  2028 20,788  —  2029 16,317  —  Thereafter 69,128  —  Total lease payments $ 235,620  $ 382  Less: Imputed Interest (49,202) (20) Present value of lease liabilities $ 186,418  $ 362  (a) Excluding the quarter ended December 31, 2023.
Schedule of Aggregate Future Maturities of Lease Payments for Finance Leases	The aggregate future maturities of lease payments for operating leases and finance leases as of December 31, 2023 are as follows (in thousands): Operating Leases Finance Leases 2024(a) $ 34,061  $ 187  2025 39,247  125  2026 30,446  66  2027 25,633  4  2028 20,788  —  2029 16,317  —  Thereafter 69,128  —  Total lease payments $ 235,620  $ 382  Less: Imputed Interest (49,202) (20) Present value of lease liabilities $ 186,418  $ 362  (a) Excluding the quarter ended December 31, 2023.

v3.24.0.1

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details)	3 Months Ended
	Dec. 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

v3.24.0.1

FAIR VALUE MEASUREMENTS (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($) $ / shares	Sep. 30, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Prepaid and other current assets	$ 57,863	$ 57,139
Designated as Hedging Instrument | Australian Dollar Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount	$ 61,000
Contracts weighted average rate price (in dollars per share) | $ / shares	$ 1.50
Deferred gain (loss) from currency translation included in AOCI	$ (1,425)
Deferred gain (loss) from currency translation included in AOCI, net of tax	(997)
Designated as Hedging Instrument | Australian Dollar Forward Contracts | Cost of goods and services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) reclassified for settled contracts	$ 525
Designated as Hedging Instrument | Australian Dollar Forward Contracts | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	30 days
Designated as Hedging Instrument | Australian Dollar Forward Contracts | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	240 days
Designated as Hedging Instrument | Chinese Yuan Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount	$ 44,000
Contracts weighted average rate price (in dollars per share) | $ / shares	$ 7.02
Deferred gain (loss) from currency translation included in AOCI	$ (307)
Deferred gain (loss) from currency translation included in AOCI, net of tax	(224)
Designated as Hedging Instrument | Chinese Yuan Forward Contracts | Cost of goods and services
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) reclassified for settled contracts	$ (636)
Designated as Hedging Instrument | Chinese Yuan Forward Contracts | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	3 days
Designated as Hedging Instrument | Chinese Yuan Forward Contracts | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	283 days
Not Designated as Hedging Instrument | Canadian Dollar Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, notional amount	$ 6,580
Derivative, average forward exchange rate	1.35
Not Designated as Hedging Instrument | Canadian Dollar Forward Contracts | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	30 days
Not Designated as Hedging Instrument | Canadian Dollar Forward Contracts | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contracts duration	267 days
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Insurance contracts fair value	$ 3,711
Prepaid and other current assets	634
Fair Value, Inputs, Level 2 | Not Designated as Hedging Instrument | Canadian Dollar Forward Contracts | Other income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments	(103)
Realized gains (losses)	24
Senior notes due 2028 | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior note, fair value disclosure	945,532
Term Loan B due 2029 | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior note, fair value disclosure	$ 462,153

v3.24.0.1

INVENTORIES - Schedule of Inventories Stated at Lower Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 102,757	$ 127,342
Work in process	18,474	12,070
Finished goods	357,378	367,718
Total	$ 478,609	$ 507,130

v3.24.0.1

INVENTORIES - Narrative (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Global Sourcing Strategy Expansion | Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Inventory write down	$ 8,482

v3.24.0.1

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 636,332	$ 651,635
Accumulated depreciation	(367,203)	(372,417)
Total	269,129	279,218
Land, building and building improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	145,321	169,923
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	456,968	447,972
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 34,043	$ 33,740

v3.24.0.1

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 9,267	$ 11,489
Assets held for sale	15,010		$ 0
Selling, general and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 3,999	$ 4,239

v3.24.0.1

CREDIT LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance, October 1	$ 11,264	$ 12,137
Provision for expected credit losses	1,030	1,457
Amounts written off charged against the allowance	(351)	(48)
Other, primarily foreign currency translation	42	90
Ending Balance, December 31	$ 11,985	$ 13,636

v3.24.0.1

GOODWILL AND OTHER INTANGIBLES - Schedule of Changes in Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Goodwill [Line Items]
Goodwill	$ 327,864	$ 327,864
Consumer and Professional Products
Goodwill [Line Items]
Goodwill	136,611	136,611
Home and Building Products
Goodwill [Line Items]
Goodwill	$ 191,253	$ 191,253

v3.24.0.1

GOODWILL AND OTHER INTANGIBLES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Carry amount of intangible assets related to foreign currency translation	$ 3,518
Amortization expense	5,556	$ 5,624
Estimated amortization expense, remainder of fiscal year	15,798
Estimated amortization expense, year one	21,354
Estimated amortization expense, year two	21,354
Estimated amortization expense, year three	21,354
Estimated amortization expense, year four	21,354
Estimated amortization expense, year five	21,354
Estimated amortization expense, thereafter	$ 219,017

v3.24.0.1

GOODWILL AND OTHER INTANGIBLES - Schedule of Gross Carrying Value and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 465,107	$ 458,668
Accumulated Amortization	123,522	116,872
Trademarks	290,526	293,447
Total intangible assets	755,633	752,115
Customer relationships & other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	449,373	443,164
Accumulated Amortization	$ 119,571	113,057
Average Life (Years)	23 years
Technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 15,734	15,504
Accumulated Amortization	$ 3,951	$ 3,815
Average Life (Years)	13 years

v3.24.0.1

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ 17,965	$ 19,318
Income before taxes	60,142	68,020
Effective income tax rate reconciliation, adjustments related to strategic review cost, amount	4,658	8,232
Effective income tax rate reconciliation, adjustments related to strategic review cost, net of tax	3,500	6,222
Restructuring charges	12,400
Restructuring charges, net of tax	9,213
Effective income tax rate reconciliation, tax expense (benefit), disposition of assets	(547)	(10,852)
Effective income tax rate reconciliation, tax expense (benefit), disposition of assets, net of tax	(406)	(8,323)
Other tax expense (benefit) that affect comparability	$ 783	(333)
Effective income tax rate reconciliation, proxy contest cost		1,503
Effective income tax rate reconciliation, proxy contest cost, net of tax		$ 1,153
Effective tax rate	27.90%	29.10%

v3.24.0.1

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2020
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	$ 1,458,736	$ 1,489,812
less: Current portion, Outstanding Balance	(9,274)	(9,625)
Long-term debt, Outstanding Balance, Non-current	1,449,462	1,480,187
Original Issuer Premium/(Discount)	(674)	(704)
Capitalized Fees & Expenses	(18,553)	(19,579)
Long-term debt, Balance Sheet	1,439,509	1,469,529
less: Current portion, Balance Sheet	(9,274)	(9,625)
Long-term debt, Balance Sheet, Non-current	1,430,235	1,459,904
Senior notes due 2028
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	974,775	974,775
Original Issuer Premium/(Discount)	206	218
Capitalized Fees & Expenses	(8,415)	(8,920)
Long-term debt, Balance Sheet	$ 966,566	$ 966,073
Coupon Interest Rate	5.75%	5.75%	5.75%
Term Loan B due 2029
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	$ 461,000	$ 463,000
Original Issuer Premium/(Discount)	(880)	(922)
Capitalized Fees & Expenses	(6,708)	(7,039)
Long-term debt, Balance Sheet	453,412	455,039
Revolver due 2025
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	21,500	50,445
Original Issuer Premium/(Discount)	0	0
Capitalized Fees & Expenses	(3,419)	(3,606)
Long-term debt, Balance Sheet	18,081	46,839
Non US lines of credit
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	0	0
Original Issuer Premium/(Discount)	0	0
Capitalized Fees & Expenses	0	(3)
Long-term debt, Balance Sheet	0	(3)
Other long term debt
Debt Instrument [Line Items]
Long-term debt, Outstanding Balance	1,461	1,592
Original Issuer Premium/(Discount)	0	0
Capitalized Fees & Expenses	(11)	(11)
Long-term debt, Balance Sheet	$ 1,450	$ 1,581

v3.24.0.1

LONG-TERM DEBT - Schedule of Interest Expense Incurred (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Cash Interest, Capitalized Interest	$ (196)	$ (2)
Cash Interest	24,243	23,625
Amort. Debt (Premium)/Discount	31	31
Amort. Debt Issuance Costs & Other Fees	1,025	992
Total Interest Expense	$ 25,299	$ 24,648
Senior notes due 2028
Debt Instrument [Line Items]
Effective Interest Rate	5.90%	5.90%
Cash Interest, Including Amounts Capitalized	$ 14,012	$ 14,012
Amort. Debt (Premium)/Discount	(12)	(12)
Amort. Debt Issuance Costs & Other Fees	505	505
Total Interest Expense	$ 14,505	$ 14,505
Term Loan B due 2029
Debt Instrument [Line Items]
Effective Interest Rate	7.80%	6.60%
Cash Interest, Including Amounts Capitalized	$ 9,217	$ 7,808
Amort. Debt (Premium)/Discount	43	43
Amort. Debt Issuance Costs & Other Fees	330	351
Total Interest Expense	9,590	8,202
Revolver due 2025
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	908	1,344
Amort. Debt (Premium)/Discount	0	0
Amort. Debt Issuance Costs & Other Fees	186	123
Total Interest Expense	1,094	$ 1,467
Finance lease - real estate
Debt Instrument [Line Items]
Effective Interest Rate		5.60%
Cash Interest, Including Amounts Capitalized	0	$ 178
Amort. Debt (Premium)/Discount	0	0
Amort. Debt Issuance Costs & Other Fees	0	0
Total Interest Expense	0	178
Non US lines of credit
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	0	155
Amort. Debt (Premium)/Discount	0	0
Amort. Debt Issuance Costs & Other Fees	4	13
Total Interest Expense	4	168
Other long term debt
Debt Instrument [Line Items]
Cash Interest, Including Amounts Capitalized	302	130
Amort. Debt (Premium)/Discount	0	0
Amort. Debt Issuance Costs & Other Fees	0	0
Total Interest Expense	$ 302	$ 130

v3.24.0.1

LONG-TERM DEBT - Narrative (Details) £ in Thousands, $ in Thousands				1 Months Ended	3 Months Ended		12 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 GBP (£)	Jan. 24, 2022 USD ($)	Nov. 30, 2012	Dec. 31, 2023 USD ($)	Dec. 31, 2022	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 AUD ($)	Sep. 30, 2020 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 AUD ($)	Sep. 28, 2023 USD ($)	Aug. 01, 2023 USD ($)	Jul. 31, 2023 USD ($)	Mar. 01, 2023 AUD ($)	Feb. 28, 2023 AUD ($)	Sep. 30, 2022 AUD ($)	Jul. 31, 2018 GBP (£)
Debt Instrument [Line Items]
Repurchase of debt instrument, discount rate								91.82%										91.82%
Debt outstanding					$ 1,458,736,000		$ 1,489,812,000
Long-term debt					1,439,509,000		$ 1,469,529,000
Revolving Credit Facility | Ames UK
Debt Instrument [Line Items]
Face amount | £																			£ 5,000
Debt outstanding															$ 0
Long-term line of credit, revolver outstanding balance					0
Revolving Credit Facility | Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Maximum borrowing capacity																		$ 20,000,000
Line of credit facility, cancelled																		20,000,000
Revolver due 2025
Debt Instrument [Line Items]
Maximum borrowing capacity														$ 500,000,000	400,000,000
Line of credit facility, incremental minimum borrowing amount														500,000,000	375,000,000
Outstanding standby letters of credit					$ 12,962,000
Maximum percentage of equity interest of subsidiaries borrowings guaranteed					65.00%
Revolver due 2025 | Letter of Credit Subfacility
Debt Instrument [Line Items]
Maximum borrowing capacity														125,000,000	$ 100,000,000
Revolver due 2025 | Multicurrency Subfacility
Debt Instrument [Line Items]
Maximum borrowing capacity														$ 200,000,000
Revolver Due 2025, SOFR Loan
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage					7.46%						7.46%	7.46%
Revolver Due 2025, SOFR Loan | Secured Overnight Financing Rate
Debt Instrument [Line Items]
Basis spread on variable rate						2.00%
Revolver Due 2025, Base Rate Loan
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage					9.50%						9.50%	9.50%
Revolver Due 2025, Base Rate Loan | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate						1.00%
Revolver Due 2025, SONIA Loan
Debt Instrument [Line Items]
Debt instrument, interest rate, effective percentage					7.22%						7.22%	7.22%
Revolver Due 2025, SONIA Loan | SONIA
Debt Instrument [Line Items]
Basis spread on variable rate					2.00%
Revolver Due 2028
Debt Instrument [Line Items]
Remaining borrowing capacity					$ 465,538,000
Term Loan | Ames UK
Debt Instrument [Line Items]
Face amount | £																			14,000
Repayments of debt	$ 9,543,000	£ 7,525
Term Loan | Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Repayments of debt									$ 9,625,000
Long-term debt																		18,375,000
Mortgages | Ames UK
Debt Instrument [Line Items]
Face amount | £																			£ 4,000
Receivables Purchase Facility | Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Maximum borrowing capacity																$ 30,000	$ 15,000,000	$ 15,000,000
Debt instrument, interest rate, effective percentage					5.56%						5.56%	5.56%
Remaining borrowing capacity					$ 20,511,000							$ 30,000,000
Long-term line of credit					$ 0
Receivables Purchase Facility | Bank Bill Swap Rate | Northcote Holdings Pty. Ltd
Debt Instrument [Line Items]
Basis spread on variable rate					1.25%
Senior notes due 2028
Debt Instrument [Line Items]
Face amount										$ 1,000,000,000
Debt instrument, interest rate, stated percentage					5.75%		5.75%			5.75%	5.75%	5.75%
Capitalized debt issuance costs										$ 16,448,000
Debt instrument, repurchased face amount								$ 25,225,000,000
Debt instrument, repurchase amount								23,161,000,000
Debt outstanding					$ 974,775,000		$ 974,775,000
Debt issuance fees and expenses, net					8,415,000
Long-term debt					966,566,000		966,073,000
Senior notes due 2028 | Fair Value, Inputs, Level 1
Debt Instrument [Line Items]
Senior note, fair value disclosure					945,532,000
Senior notes due 2022
Debt Instrument [Line Items]
Repayments of debt										$ 1,000,000,000
Debt instrument, interest rate, stated percentage										5.25%
Term Loan | Term Loan B due 2029
Debt Instrument [Line Items]
Face amount			$ 800,000,000
Capitalized debt issuance costs			$ 15,466,000
Debt issuance fees and expenses, net					$ 6,708,000
Debt instrument, interest rate, effective percentage					7.75%						7.75%	7.75%
Secured overnight financing rate floor			0.50%
Debt instrument, issuance price (in percentage)			99.75%
Debt instrument, periodic payment, principal					$ 2,000,000
Debt redeemed							25,000,000	300,000,000
Gain (loss) on extinguishment of debt							(437,000)	(6,296,000)
Write off of deferred debt issuance cost, underwriting and other fees							386,000	5,575,000
Write off of deferred debt issuance cost, original issuer discount							51,000	$ 721,000
Term Loan | Term Loan B due 2029 | Secured Overnight Financing Rate
Debt Instrument [Line Items]
Basis spread on variable rate			2.25%
Term Loan B due 2029
Debt Instrument [Line Items]
Debt outstanding					461,000,000		463,000,000
Long-term debt					453,412,000		$ 455,039,000
Term Loan B due 2029 | Fair Value, Inputs, Level 1
Debt Instrument [Line Items]
Senior note, fair value disclosure					462,153,000
Non US lines of credit
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 11,363,000						$ 15,000
Basis spread on variable rate				1.30%
Non US lines of credit | CORRA
Debt Instrument [Line Items]
Interest rate at period end					6.36%						6.36%	6.36%
Non US lines of credit | Bankers Acceptance Rate
Debt Instrument [Line Items]
Interest rate at period end					6.53%						6.53%	6.53%
Mortgages | Ames UK
Debt Instrument [Line Items]
Repayments of debt	$ 3,108,000	£ 2,451
Finance lease - real estate | Ocala, Florida
Debt Instrument [Line Items]
Payment to acquire leased property													$ 23,207,000
Lessee, finance Lease, discount rate													5.60%

v3.24.0.1

SHAREHOLDERS' EQUITY AND EQUITY COMPENSATION - Narrative (Details) $ / shares in Units, $ in Thousands							3 Months Ended		12 Months Ended
	Feb. 06, 2024 $ / shares	Jan. 29, 2024 shares	Nov. 15, 2023 USD ($)	Apr. 19, 2023 USD ($) $ / shares	Feb. 17, 2022 shares	Jan. 30, 2020 shares	Dec. 31, 2023 USD ($) executive $ / shares shares	Dec. 31, 2022 $ / shares	Sep. 30, 2023 dividend $ / shares	Apr. 18, 2023 USD ($)	Jan. 31, 2018 shares
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share) | $ / shares							$ 0.15	$ 0.10
Number of additional shares authorized for award (in shares)					1,200,000
Reissuance of shares in treasury for award under share-based payment arrangement (in shares)							166,272
Stock repurchase program, authorized amount, period income (decrease) | $			$ 200,000	$ 200,000
Stock repurchase program, remaining authorized repurchase amount | $				$ 257,955			$ 237,543			$ 57,955
Stock repurchased during period (in shares)							1,634,454
Stock repurchased during period | $							$ 69,640
Stock repurchased during period, cost (in dollars per share) | $ / shares							$ 42.61
Stock repurchase program, exercise tax accrued during period | $							$ 696
Stock repurchase program, exercise tax accrued | $							$ 1,997
Restricted Stock and Restricted Stock Units
Class of Stock [Line Items]
Equity instruments other than options, grants in period (in shares)							174,104
Restricted Stock and Restricted Stock Units | Executives and Key Employees
Class of Stock [Line Items]
Award vesting period							36 months
Number of executive officers granted shares | executive							43
Equity instruments other than options, granted in period, fair value | $							$ 8,225
Equity instruments other than options, grants in period, weighted average grant date fair value (in dollars per share) | $ / shares							$ 47.24
Restricted Stock and Restricted Stock Units | Minimum
Class of Stock [Line Items]
Award vesting period							3 years
Restricted Stock and Restricted Stock Units | Maximum
Class of Stock [Line Items]
Award vesting period							4 years
Restricted Stock Award
Class of Stock [Line Items]
Shares paid for tax withholding for share based compensation (in shares)							221,229
Shares paid for tax withholding for share based compensation, value | $							$ 11,604
Shares paid for tax withholding for share based compensation, value per share (in dollars per share) | $ / shares							$ 52.45
Restricted Stock Award | Executives and Key Employees
Class of Stock [Line Items]
Equity instruments other than options, grants in period (in shares)							166,272
Restricted Stock Units | Executives and Key Employees
Class of Stock [Line Items]
Equity instruments other than options, grants in period (in shares)							7,832
Incentive Plan
Class of Stock [Line Items]
Number of shares authorized for award (in shares)							6,250,000				1,000,000
Number of additional shares authorized for award (in shares)						1,700,000
Share-based compensation arrangement by share-based payment award, expiration period					10 years
Maximum percentage of exercise price at grant date fair value					100.00%
Number of shares available for grant (in shares)							154,369
Incentive Plan | Subsequent Event
Class of Stock [Line Items]
Number of additional shares authorized for award (in shares)		2,600,000
Incentive Plan | Incentive Stock Options
Class of Stock [Line Items]
Number of shares authorized for award (in shares)							600,000
Quarterly Dividends
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid (in dollars per share) | $ / shares							$ 0.15		$ 0.45
Quarterly Dividends | Subsequent Event
Class of Stock [Line Items]
Dividends declared, amount per share (in dollars per share) | $ / shares	$ 0.15
Quarterly Dividends, One
Class of Stock [Line Items]
Number of quarterly dividends | dividend									2
Dividends declared, amount per share (in dollars per share) | $ / shares									$ 0.10
Quarterly Dividends, Two
Class of Stock [Line Items]
Number of quarterly dividends | dividend									2
Dividends declared, amount per share (in dollars per share) | $ / shares									$ 0.125
Special Cash Dividends
Class of Stock [Line Items]
Dividends declared, amount per share (in dollars per share) | $ / shares				$ 2.00

v3.24.0.1

SHAREHOLDERS' EQUITY AND EQUITY COMPENSATION - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Restricted stock	$ 5,028	$ 5,538
ESOP	1,389	1,204
Total stock-based compensation	$ 6,417	$ 6,742

v3.24.0.1

EARNINGS PER SHARE (EPS) (Details) - shares shares in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Common shares outstanding (in shares)	51,386	57,186
Unallocated ESOP shares (in shares)	(154)	(979)
Non-vested restricted stock (in shares)	(2,783)	(3,230)
Impact of weighted average shares (in shares)	335	(398)
Weighted average shares outstanding - basic (in shares)	48,784	52,579
Incremental shares from stock based compensation (in shares)	2,683	2,719
Weighted average shares outstanding - diluted (in shares)	51,467	55,298

v3.24.0.1

BUSINESS SEGMENTS - Narrative (Details)	3 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

v3.24.0.1

BUSINESS SEGMENTS - Schedule of Reportable Segments from Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 643,153	$ 649,384
Home and Building Products
Segment Reporting Information [Line Items]
Revenue	395,791	396,573
Consumer and Professional Products
Segment Reporting Information [Line Items]
Revenue	$ 247,362	$ 252,811

v3.24.0.1

BUSINESS SEGMENTS - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 643,153	$ 649,384
United States
Disaggregation of Revenue [Line Items]
Revenue	530,800	532,967
Europe
Disaggregation of Revenue [Line Items]
Revenue	5,353	4,712
Canada
Disaggregation of Revenue [Line Items]
Revenue	35,796	38,471
Australia
Disaggregation of Revenue [Line Items]
Revenue	64,871	66,217
All other countries
Disaggregation of Revenue [Line Items]
Revenue	6,333	7,017
Home and Building Products
Disaggregation of Revenue [Line Items]
Revenue	395,791	396,573
Home and Building Products | United States
Disaggregation of Revenue [Line Items]
Revenue	379,628	379,300
Home and Building Products | Europe
Disaggregation of Revenue [Line Items]
Revenue	108	16
Home and Building Products | Canada
Disaggregation of Revenue [Line Items]
Revenue	14,768	15,355
Home and Building Products | Australia
Disaggregation of Revenue [Line Items]
Revenue	0	0
Home and Building Products | All other countries
Disaggregation of Revenue [Line Items]
Revenue	1,287	1,902
Home and Building Products | Residential repair and remodel
Disaggregation of Revenue [Line Items]
Revenue	186,541	190,730
Home and Building Products | Commercial
Disaggregation of Revenue [Line Items]
Revenue	176,993	169,514
Home and Building Products | Residential new construction
Disaggregation of Revenue [Line Items]
Revenue	32,257	36,329
Consumer and Professional Products
Disaggregation of Revenue [Line Items]
Revenue	247,362	252,811
Consumer and Professional Products | United States
Disaggregation of Revenue [Line Items]
Revenue	151,172	153,667
Consumer and Professional Products | Europe
Disaggregation of Revenue [Line Items]
Revenue	5,245	4,696
Consumer and Professional Products | Canada
Disaggregation of Revenue [Line Items]
Revenue	21,028	23,116
Consumer and Professional Products | Australia
Disaggregation of Revenue [Line Items]
Revenue	64,871	66,217
Consumer and Professional Products | All other countries
Disaggregation of Revenue [Line Items]
Revenue	5,046	5,115
Consumer and Professional Products | Residential repair and remodel
Disaggregation of Revenue [Line Items]
Revenue	76,064	81,706
Consumer and Professional Products | Residential new construction
Disaggregation of Revenue [Line Items]
Revenue	14,005	12,487
Consumer and Professional Products | Retail
Disaggregation of Revenue [Line Items]
Revenue	69,278	68,497
Consumer and Professional Products | Industrial
Disaggregation of Revenue [Line Items]
Revenue	14,777	17,093
Consumer and Professional Products | International excluding North America
Disaggregation of Revenue [Line Items]
Revenue	$ 73,238	$ 73,028

v3.24.0.1

BUSINESS SEGMENTS - Segment EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 116,351	$ 108,560
Segment adjusted EBITDA	130,258	122,336
Gain on sale of building	547	10,852
Income before taxes	60,142	68,020
Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	(14,690)	(16,973)
Operating Segments | Home and Building Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	124,719	124,145
Depreciation and amortization	(3,633)	(3,846)
Operating Segments | Consumer and Professional Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	5,539	(1,809)
Depreciation and amortization	(11,057)	(13,127)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Unallocated amounts, excluding depreciation	(13,907)	(13,776)
Net interest expense	(24,875)	(24,544)
Depreciation and amortization	(14,823)	(17,113)
Restructuring charges	(12,400)	0
Gain on sale of building	547	10,852
Strategic review - retention and other	(4,658)	(8,232)
Proxy expenses	$ 0	$ (1,503)

v3.24.0.1

BUSINESS SEGMENTS - Depreciation, Amortization and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
CAPITAL EXPENDITURES	$ 14,330	$ 4,726
Operating Segments
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	14,690	16,973
CAPITAL EXPENDITURES	14,257	4,726
Corporate
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	133	140
CAPITAL EXPENDITURES	73	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	14,823	17,113
Home and Building Products | Operating Segments
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	3,633	3,846
CAPITAL EXPENDITURES	10,508	2,068
Consumer and Professional Products | Operating Segments
Segment Reporting Information [Line Items]
DEPRECIATION and AMORTIZATION	11,057	13,127
CAPITAL EXPENDITURES	$ 3,749	$ 2,658

v3.24.0.1

BUSINESS SEGMENTS - Schedule of Segment Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Segment Reporting Information [Line Items]
Continuing assets	$ 2,388,191	$ 2,413,588
Total Assets	2,393,313	2,418,879
Assets held for sale	15,010	0
Discontinued Operations
Segment Reporting Information [Line Items]
Discontinued operations	5,122	5,291
Operating Segments
Segment Reporting Information [Line Items]
Continuing assets	2,267,657	2,283,249
Operating Segments | Home and Building Products
Segment Reporting Information [Line Items]
Continuing assets	694,151	703,661
Operating Segments | Consumer and Professional Products
Segment Reporting Information [Line Items]
Continuing assets	1,573,506	1,579,588
Corporate
Segment Reporting Information [Line Items]
Continuing assets	$ 120,534	$ 130,339

v3.24.0.1

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Interest cost	$ 1,888	$ 1,825
Expected return on plan assets	(2,543)	(2,553)
Amortization:
Recognized actuarial loss	689	944
Net periodic expense	$ 34	$ 216

v3.24.0.1

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Discontinued Operations | Installation Services and Other Discontinued Activities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, insurance claims, warranty and environmental reserves	$ 8,703	$ 11,798

v3.24.0.1

DISCONTINUED OPERATIONS - Balance Sheets Information of Installation Services and Other Discontinued Activities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Assets of discontinued operations:
Other long-term assets	$ 4,138	$ 4,290
Discontinued Operations
Assets of discontinued operations:
Prepaid and other current assets	984	1,001
Other long-term assets	4,138	4,290
Total assets of discontinued operations	5,122	5,291
Liabilities of discontinued operations:
Accrued liabilities, current	4,216	7,148
Other long-term liabilities	4,487	4,650
Total liabilities of discontinued operations	$ 8,703	$ 11,798

v3.24.0.1

RESTRUCTURING CHARGES - Narrative (Details) $ in Thousands, ft² in Millions	3 Months Ended	20 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) ft² position wood_mill	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Assets held for sale	$ 15,010		$ 0
Restructuring charges, pre-tax	12,400
Payments for restructuring	10,577
Non-cash charges	8,482
Global Sourcing Strategy Expansion | Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	3,918
Non-cash charges	8,482
Inventory write down	8,482
Global Sourcing Strategy Expansion | Consumer and Professional Products | Forecast
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, facility closing, area | ft²		1.2
Restructuring and related cost, facility closing, percentage		15.00%
Reduction of headcount | position		600
Affected number of wood mills | wood_mill		4
Global Sourcing Strategy Expansion | Consumer and Professional Products | Forecast | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, pre-tax		$ 120,000
Payments for restructuring		50,000
Non-cash charges		70,000
Global Sourcing Strategy Expansion | Consumer and Professional Products | Forecast | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring charges, pre-tax		130,000
Payments for restructuring		55,000
Non-cash charges		75,000
Capital investments | Global Sourcing Strategy Expansion | Consumer and Professional Products | Forecast | Minimum
Restructuring Cost and Reserve [Line Items]
Payments to acquire productive assets		3,000
Capital investments | Global Sourcing Strategy Expansion | Consumer and Professional Products | Forecast | Maximum
Restructuring Cost and Reserve [Line Items]
Payments to acquire productive assets		$ 5,000
Personnel related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges, pre-tax	1,847
Payments for restructuring	7,215
Non-cash charges	0
Personnel related costs | Global Sourcing Strategy Expansion | Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	1,847
Facilities & Exit Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges, pre-tax	2,071
Payments for restructuring	3,362
Non-cash charges	0
Facilities & Exit Costs | Global Sourcing Strategy Expansion | Consumer and Professional Products
Restructuring Cost and Reserve [Line Items]
Payments for restructuring	$ 2,071

v3.24.0.1

RESTRUCTURING CHARGES - Summary of the Restructuring and Other Related Charges (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 12,400
Personnel related costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	1,847
Facilities, exit costs and other
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	2,071
Non-cash facility and other
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	8,482
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	11,646
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 754

v3.24.0.1

RESTRUCTURING CHARGES - Summary of Accrued Liability for the Restructuring and Related Charges (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	$ 19,658
Restructuring charges	12,400
Cash payment	(10,577)
Non-cash charges	(8,482)
Accrued liability ending balance	12,999
Personnel related costs
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	14,107
Restructuring charges	1,847
Cash payment	(7,215)
Non-cash charges	0
Accrued liability ending balance	8,739
Facilities & Exit Costs
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	5,551
Restructuring charges	2,071
Cash payment	(3,362)
Non-cash charges	0
Accrued liability ending balance	4,260
Non-cash facility and other
Restructuring Reserve [Roll Forward]
Accrued liability beginning balance	0
Restructuring charges	8,482
Cash payment	0
Non-cash charges	(8,482)
Accrued liability ending balance	$ 0

v3.24.0.1

OTHER INCOME (EXPENSE) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Other income (expense)	$ 632	$ 607
Foreign currency transaction gain (loss), before tax	13	67
Net periodic expense	34	216
Investment income, net	56	33
Rental income	0	212
Royalty income	$ 592	$ 549

v3.24.0.1

WARRANTY LIABILITY - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Sep. 30, 2023
Product Warranty Liability [Line Items]
Warranty liability, current	$ 15,461	$ 20,781
Warranty liability, noncurrent	$ 1,239	$ 1,239
Home and Building Products | Minimum
Product Warranty Liability [Line Items]
Product warranty period	1 year
Home and Building Products | Maximum
Product Warranty Liability [Line Items]
Product warranty period	10 years
CPP
Product Warranty Liability [Line Items]
Product warranty period	90 days

v3.24.0.1

WARRANTY LIABILITY - Changes in Warrant Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance, beginning of period	$ 20,781	$ 16,786
Warranties issued and changes in estimated pre-existing warranties	940	4,667
Actual warranty costs incurred	(6,260)	(3,754)
Balance, end of period	$ 15,461	$ 17,699

v3.24.0.1

OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of OCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	$ 10,490	$ 12,196
Total other comprehensive income (loss), tax	(15)	23
Total other comprehensive income (loss), net of taxes	10,475	12,219
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	10,238	11,937
Total other comprehensive income (loss), tax	0	0
Total other comprehensive income (loss), net of taxes	10,238	11,937
Pension and other defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	673	1,088
Total other comprehensive income (loss), tax	(141)	(226)
Total other comprehensive income (loss), net of taxes	532	862
Cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	(421)	(829)
Total other comprehensive income (loss), tax	126	249
Total other comprehensive income (loss), net of taxes	$ (295)	$ (580)

v3.24.0.1

OTHER COMPREHENSIVE INCOME (LOSS) - AOCI (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ 285,022	$ 315,244	$ 526,848	$ 477,570
Accumulated other comprehensive income (loss), attributable to parent
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(59,535)	(70,010)	$ (70,519)	$ (82,738)
Foreign currency translation adjustments
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(38,485)	(48,723)
Pension and other defined benefit plans
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(20,133)	(20,665)
Cash flow hedges
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ (917)	$ (622)

v3.24.0.1

OTHER COMPREHENSIVE INCOME (LOSS) - Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes	$ 60,142	$ 68,020
Tax benefit (expense)	(17,965)	(19,318)
Net income	42,177	48,702
Accumulated other comprehensive income (loss), attributable to parent | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes	(800)	60
Tax benefit (expense)	168	(13)
Net income	(632)	47
Pension and other defined benefit plans | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes	(689)	(944)
Cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Income before taxes	$ (111)	$ 1,004

v3.24.0.1

LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease Cost
Fixed	$ 11,574	$ 11,294
Variable	2,474	2,772
Short-term	1,581	2,204
Total	$ 15,629	$ 16,270

v3.24.0.1

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 11,072	$ 9,623
Financing cash flows from finance leases	114	744
Total	$ 11,186	$ 10,367

v3.24.0.1

LEASES - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Operating Leases:
Operating right-of-use assets	$ 176,100	$ 169,942
Lease Liabilities:
Current portion of operating lease liabilities	34,075	32,632
Long-term operating lease liabilities	152,343	147,224
Total operating lease liabilities	186,418	179,856
Finance Leases:
Property, plant and equipment, net	$ 899	$ 994
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	PROPERTY, PLANT AND EQUIPMENT, net	PROPERTY, PLANT AND EQUIPMENT, net
Lease Liabilities:
Notes payable and current portion of long-term debt	$ 209	$ 280
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Notes payable and current portion of long-term debt	Notes payable and current portion of long-term debt
Long-term debt, net	$ 153	$ 184
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-Term Debt, Excluding Current Maturities	Long-Term Debt, Excluding Current Maturities
Total financing lease liabilities	$ 362	$ 464
Accumulated depreciation	$ 1,645	$ 6,769

v3.24.0.1

LEASES - Narrative (Details) - Ocala, Florida - Finance Lease Obligation $ in Thousands	Sep. 28, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Payment to acquire leased property	$ 23,207
Lessee, finance Lease, discount rate	5.60%

v3.24.0.1

LEASES - Schedule of Future Maturities of Lease Payments for Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023
Operating Leases
2024	$ 34,061
2025	39,247
2026	30,446
2027	25,633
2028	20,788
2029	16,317
Thereafter	69,128
Total lease payments	235,620
Less: Imputed Interest	(49,202)
Present value of lease liabilities	186,418	$ 179,856
Finance Leases
2024	187
2025	125
2026	66
2027	4
2028	0
2029	0
Thereafter	0
Total lease payments	382
Less: Imputed Interest	(20)
Present value of lease liabilities	$ 362	$ 464

v3.24.0.1

LEASES - Weighted Average Lease Terms and Discount Rates (Details)	Dec. 31, 2023
Weighted-average remaining lease term (years):
Operating leases	7 years 7 months 6 days
Finance Leases	3 years 3 months 18 days
Weighted-average discount rate:
Operating Leases	6.11%
Finance Leases	5.83%

v3.24.0.1

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended
	Dec. 31, 2023
Peekskill, NY
Loss Contingencies [Line Items]
Site contingency, ownership period	3 years
Memphis, TN
Loss Contingencies [Line Items]
Site contingency, ownership period	50 years

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