Griffon (GFF) 10-Q 2 May 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	GRIFFON CORPORATION
Document Type	10-Q
Current Fiscal Year End Date	--09-30
Entity Common Stock, Shares Outstanding		46,800,571
Amendment Flag	false
Entity Central Index Key	0000050725
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
CURRENT ASSETS
Cash and equivalents	$ 57,979	$ 69,758
Accounts receivable, net of allowances of $10,025 and $6,408	344,049	280,509
Contract costs and recognized income not yet billed, net of progress payments of $5,300 and $3,172	83,904	121,803
Inventories	457,071	398,359
Prepaid and other current assets	45,778	42,121
Assets of discontinued operations	324	324
Total Current Assets	989,105	912,874
PROPERTY, PLANT AND EQUIPMENT, net	332,852	342,492
GOODWILL	439,118	439,395
INTANGIBLE ASSETS, net	364,740	370,858
OTHER ASSETS	15,192	16,355
ASSETS OF DISCONTINUED OPERATIONS	2,901	2,916
Total Assets	2,143,908	2,084,890
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	10,807	13,011
Accounts payable	223,188	233,658
Accrued liabilities	120,532	139,192
Liabilities of discontinued operations	11,657	7,210
Total Current Liabilities	366,184	393,071
LONG-TERM DEBT, net	1,206,195	1,108,071
OTHER LIABILITIES	94,938	106,710
LIABILITIES OF DISCONTINUED OPERATIONS	2,307	2,647
Total Liabilities	1,669,624	1,610,499
COMMITMENTS AND CONTINGENCIES - See Note 19
SHAREHOLDERS’ EQUITY
Total Shareholders’ Equity	474,284	474,391
Total Liabilities and Shareholders’ Equity	$ 2,143,908	$ 2,084,890

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Statement of Financial Position [Abstract]
Accounts receivable, net allowances	$ 10,025	$ 6,408
Contract costs, net of progress payments	$ 5,300	$ 3,172

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Kelkay [Member]	COMMON STOCK [Member]	CAPITAL IN EXCESS OF PAR VALUE [Member]	CAPITAL IN EXCESS OF PAR VALUE [Member]Kelkay [Member]	RETAINED EARNINGS [Member]	TREASURY SHARES [Member]	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Member]	DEFERRED COMPENSATION [Member]
Balance at Sep. 30, 2017	$ 398,808		$ 20,166	$ 487,077		$ 480,347	$ (489,225)	$ (60,481)	$ (39,076)
Balance (in Shares) at Sep. 30, 2017			80,663				33,557
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	30,989					30,989
Dividend	(2,990)					(2,990)
Shares withheld on employee taxes on vested equity awards (in shares)							191
Shares withheld on employee taxes on vested equity awards	(4,332)						$ (4,332)
Amortization of deferred compensation	817								817
Equity awards granted, net (in shares)			895
Equity awards granted, net	0		$ 223	(223)
ESOP allocation of common stock	608			608
Stock-based compensation	2,555			2,555
Other comprehensive income, net of tax	8,358							8,358
Balance at Dec. 31, 2017	434,813		$ 20,389	490,017		508,346	$ (493,557)	(52,123)	(38,259)
Balance (in Shares) at Dec. 31, 2017			81,558				33,748
Balance at Sep. 30, 2017	398,808		$ 20,166	487,077		480,347	$ (489,225)	(60,481)	(39,076)
Balance (in Shares) at Sep. 30, 2017			80,663				33,557
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	121,269
Other comprehensive income, net of tax	28,759
Balance at Mar. 31, 2018	474,018		$ 20,369	492,895		551,966	$ (522,086)	(31,722)	(37,404)
Balance (in Shares) at Mar. 31, 2018			81,474				35,192
Balance at Dec. 31, 2017	434,813		$ 20,389	490,017		508,346	$ (493,557)	(52,123)	(38,259)
Balance (in Shares) at Dec. 31, 2017			81,558				33,748
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	90,280					90,280
Dividend	(46,660)					(46,660)
Shares withheld on employee taxes on vested equity awards (in shares)							6
Shares withheld on employee taxes on vested equity awards	(114)						$ (114)
Amortization of deferred compensation	855								855
Common stock acquired (in shares)							1,438
Common stock acquired	(28,415)						$ (28,415)
Equity awards granted, net (in shares)			(84)
Equity awards granted, net	0		$ (20)	20
ESOP allocation of common stock	493			493
Stock-based compensation	2,365			2,365
Other comprehensive income, net of tax	20,401							20,401
Balance at Mar. 31, 2018	474,018		$ 20,369	492,895		551,966	$ (522,086)	(31,722)	(37,404)
Balance (in Shares) at Mar. 31, 2018			81,474				35,192
Balance at Sep. 30, 2018	474,391		$ 20,380	503,396		550,523	$ (534,830)	(34,112)	(30,966)
Balance (in Shares) at Sep. 30, 2018			81,520				35,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	8,753					8,753
Dividend	(3,143)					(3,143)
Shares withheld on employee taxes on vested equity awards (in shares)							83
Shares withheld on employee taxes on vested equity awards	(1,058)						$ (1,058)
Amortization of deferred compensation	856								856
Common stock acquired (in shares)							29
Common stock acquired	(290)						$ (290)
Equity awards granted, net (in shares)			1,201
Equity awards granted, net	0		$ 300	(300)
ESOP allocation of common stock	(8)			(8)
Stock-based compensation	2,933	$ 250		2,933	$ 250
Other comprehensive income, net of tax	(5,450)							(5,450)
Balance at Dec. 31, 2018	471,561		$ 20,680	506,271		550,460	$ (536,178)	(39,562)	(30,110)
Balance (in Shares) at Dec. 31, 2018			82,721				35,958
Balance at Sep. 30, 2018	474,391		$ 20,380	503,396		550,523	$ (534,830)	(34,112)	(30,966)
Balance (in Shares) at Sep. 30, 2018			81,520				35,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	7,597
Other comprehensive income, net of tax	(2,570)
Balance at Mar. 31, 2019	474,284		$ 20,692	510,585		545,600	$ (536,308)	(36,682)	(29,603)
Balance (in Shares) at Mar. 31, 2019			82,769				35,969
Balance at Dec. 31, 2018	471,561		$ 20,680	506,271		550,460	$ (536,178)	(39,562)	(30,110)
Balance (in Shares) at Dec. 31, 2018			82,721				35,958
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,156)					(1,156)
Dividend	(3,704)					(3,704)
Shares withheld on employee taxes on vested equity awards (in shares)							3
Shares withheld on employee taxes on vested equity awards	(48)						$ (48)
Amortization of deferred compensation	507								507
Common stock acquired (in shares)							8
Common stock acquired	(82)						$ (82)
Equity awards granted, net (in shares)			48
Equity awards granted, net	0		$ 12	(12)
ESOP allocation of common stock	601			601
Stock-based compensation	3,422	$ 303		3,422	$ 303
Other comprehensive income, net of tax	2,880							2,880
Balance at Mar. 31, 2019	$ 474,284		$ 20,692	$ 510,585		$ 545,600	$ (536,308)	$ (36,682)	$ (29,603)
Balance (in Shares) at Mar. 31, 2019			82,769				35,969

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 549,633	$ 478,560	$ 1,060,155	$ 915,863
Cost of goods and services	412,129	357,181	779,605	673,705
Gross profit	137,504	121,379	280,550	242,158
Selling, general and administrative expenses	111,783	104,493	225,537	211,117
Income from operations	25,721	16,886	55,013	31,041
Other income (expense)
Interest expense	(17,517)	(16,806)	(34,046)	(33,645)
Interest income	212	762	410	959
Other, net	1,268	2,346	2,272	2,760
Total other expense, net	(16,037)	(13,698)	(31,364)	(29,926)
Income before taxes from continuing operations	9,684	3,188	23,649	1,115
Provision (benefit) from income taxes	3,194	1,237	8,406	(23,667)
Income from continuing operations	6,490	1,951	15,243	24,782
Discontinued operations:
Income (loss) from operations of discontinued operations	(11,000)	113,376	(11,000)	124,842
Provision (benefit) for income taxes	(3,354)	25,047	(3,354)	28,355
Income (loss) from discontinued operations	(7,646)	88,329	(7,646)	96,487
Net income (loss)	$ (1,156)	$ 90,280	$ 7,597	$ 121,269
Income from continuing operations (in dollars per share)	$ 0.16	$ 0.05	$ 0.37	$ 0.59
Income (loss) from discontinued operations (in dollars per share)	(0.19)	2.13	(0.19)	2.31
Basic earnings per common share (in dollars per share)	$ (0.03)	$ 2.18	$ 0.19	$ 2.91
Weighted-average shares outstanding (in shares)	40,949	41,477	40,849	41,700
Income from continuing operations (in dollars per share)	$ 0.15	$ 0.05	$ 0.36	$ 0.58
Income (loss) from discontinued operations (in dollars per share)	(0.18)	2.07	(0.18)	2.24
Diluted earnings per common share (in dollars per share)	$ (0.03)	$ 2.11	$ 0.18	$ 2.82
Weighted-average shares outstanding (in shares)	42,832	42,765	42,376	43,062
Dividends paid per common share (in dollars per share)	$ 0.0725	$ 0.0700	$ 0.145	$ 0.1400
Other comprehensive income (loss), net of taxes:
Net income (loss)	$ (1,156)	$ 90,280	$ 7,597	$ 121,269
Foreign currency translation adjustments	2,885	19,714	(2,851)	18,425
Pension and other post retirement plans	184	247	368	9,806
Change in cash flow hedges	(189)	440	(87)	528
Total other comprehensive income (loss), net of taxes	2,880	20,401	(2,570)	28,759
Comprehensive income, net	$ 1,724	$ 110,681	$ 5,027	$ 150,028

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,597	$ 121,269
Net (income) loss from discontinued operations	7,646	(96,487)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	30,577	26,271
Stock-based compensation	6,355	4,920
Provision (recovery) for losses on accounts receivable	316	(201)
Amortization of debt discounts and issuance costs	2,841	2,754
Deferred income taxes	(865)	(23,136)
Change in assets and liabilities, net of assets and liabilities acquired:
Increase in accounts receivable and contract costs and recognized income not yet billed	(47,669)	(16,631)
Increase in inventories	(37,852)	(48,295)
Decrease in prepaid and other assets	2,323	2,613
Decrease in accounts payable, accrued liabilities and income taxes payable	(28,945)	(21,021)
Other changes, net	2,670	844
Net cash used in operating activities - continuing operations	(55,006)	(47,100)
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment	(17,418)	(21,628)
Acquired businesses, net of cash acquired	(9,219)	(246,230)
Proceeds from sale of business	0	473,977
Insurance proceeds (payments)	(10,604)	8,254
Proceeds from sale of assets	62	454
Investment purchase	(149)	0
Net cash provided by (used in) investing activities - continuing operations	(37,328)	214,827
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Dividends paid	(6,847)	(5,872)
Purchase of shares for treasury	(1,478)	(32,861)
Proceeds from long-term debt	143,101	347,898
Payments of long-term debt	(48,169)	(229,941)
Financing costs	(945)	(7,451)
Contingent consideration for acquired businesses	(1,686)	0
Other, net	83	126
Net cash provided by financing activities - continuing operations	84,059	71,899
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in operating activities	(3,438)	(15,080)
Net cash used in investing activities	0	(10,762)
Net cash used in financing activities	0	(22,541)
Net cash used in discontinued operations	(3,438)	(48,383)
Effect of exchange rate changes on cash and equivalents	(66)	(2,468)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	(11,779)	188,775
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	69,758	47,681
CASH AND EQUIVALENTS AT END OF PERIOD	$ 57,979	$ 236,456

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Mar. 31, 2019
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 currently conducts its operations through two reportable segments: • Home & Building Products (“HBP”) segment consists of two companies, The AMES Companies, Inc. (“AMES”) and Clopay Building Products Company, Inc, (“CBP”): AMES, founded in 1774, is the leading North American manufacturer and a global provider of branded consumer and professional tools, landscaping products, and outdoor lifestyle solutions. In 2018, we acquired ClosetMaid LLC ("ClosetMaid"), a leader in wood and wire closet organization, general living storage and wire garage storage products for homeowners and professionals. CBP, since 1964, is a leading manufacturer and marketer of residential and commercial garage doors and sells to professional dealers and some of the largest home center retail chains in North America. In 2018, we acquired CornellCookson, a leading U.S. manufacturer and marketer of rolling steel door and grille products designed for commercial, industrial, institutional, and retail use. • Defense Electronics segment consists of Telephonics Corporation ("Telephonics"), founded in 1933, a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers. 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 year ended September 30, 2018 , 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 HBP operations 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, 2018 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2018 . 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 US GAAP 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 allowances for doubtful accounts receivable and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, percentage of completion method of accounting, pension assumptions, useful lives associated with depreciation and amortization of fixed and intangible assets, warranty reserves, sales incentive accruals, stock based compensation assumptions, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves and the valuation of assets and liabilities of discontinued operations, acquisition assumptions used 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

FAIR VALUE MEASUREMENTS	6 Months Ended
	Mar. 31, 2019
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. The fair values of Griffon’s 2022 senior notes approximated $985,770 on March 31, 2019 . Fair values were based upon quoted market prices (level 1 inputs). Insurance contracts with values of $2,481 at March 31, 2019 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 on the Consolidated Balance Sheets. Items Measured at Fair Value on a Recurring Basis At March 31, 2019 , trading securities, measured at fair value based on quoted prices in active markets for similar assets (level 2 inputs), with a fair value of $2,825 ( $2,233 cost basis), were included in Prepaid and other current assets on the Consolidated Balance Sheets. Realized and unrealized gains and losses on trading securities are included in Other income in the Consolidated Statements of Operations and Comprehensive Income (Loss). In the normal course of business, Griffon’s operations are exposed to the effects of changes in foreign currency exchange rates. To manage these risks, Griffon may enter into various derivative contracts such as foreign currency exchange contracts, including forwards and options. As of March 31, 2019 , Griffon entered into several such contracts in order to lock into a foreign currency rate for planned settlements of trade and inter-company liabilities payable in US dollars. At March 31, 2019 , Griffon had $8,000 of Australian dollar contracts at a weighted average rate of $1.41 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 gains of $549 ( $384 , net of tax) at March 31, 2019 and a gain of $242 and $934 was recorded in COGS during the three and six months ended March 31, 2019 , respectively, for all settled contracts. All contracts expire in 30 to 88 days. At March 31, 2019 , Griffon had $1,460 of Canadian dollar contracts at a weighted average rate of $1.33 . The contracts, which protect Canadian operations from currency fluctuations for US dollar based purchases, do not qualify for hedge accounting. For the three and six months ended March 31, 2019 , fair value gains (losses) of $ $18 and $(23) was recorded to Other liabilities and to Other income for the outstanding contracts, based on similar contract values (level 2 inputs). Realized gain of $68 and $58 were recorded in Other income during the three and six months ended March 31, 2019 , respectively, for all settled contracts. All contracts expire in 29 to 120

REVENUE

REVENUE	6 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE On October 1, 2018, the Company adopted the requirements of Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”, using the modified retrospective method applied to those contracts that were not completed as of October 1, 2018. The Company’s comparative consolidated results over the prior period have not been adjusted and continue to be reported under previously issued guidance, ASC 605 - Revenue Recognition, which required that revenue was accounted for when the earnings process was complete. This accounting standard did not materially impact the Company’s revenue recognition practices in our Home and Building Products (“HBP”) Segment, however, it impacted revenue recognition practices in our Defense Electronics Segment. The impact of adopting this accounting standard was not material to the Company’s consolidated financial statements as of and for the three and six months ended March 31, 2019. Under the modified retrospective method, the Company recognized the cumulative effect of initially applying this accounting standard as an adjustment to the opening balance in retained earnings of approximately $5,673 as of October 1, 2018, primarily relating to certain contracts in the Defense Electronics Segment containing provisions for radar and communication products that have an alternative use and / or no right to payment. For these contracts, the Company now recognizes revenue at a point in time, rather than over time as this measure more accurately depicts the transfer of control to the customer relative to the goods or services promised under the contract. The cumulative effect of the changes made to the Company's Consolidated October 1, 2018 Balance Sheet for the adoption of ASC 606 is as follows: Balance Sheet As Reported at September 30, 2018 Adjustments Balance as of October 1, 2018 CURRENT ASSETS Contract costs and recognized income not yet billed, net of progress payments $ 121,803 $ (20,982 ) $ 100,821 Inventories 398,359 22,025 420,384 Total Current Assets 912,874 1,043 913,917 Total Assets 2,084,890 1,043 2,085,933 CURRENT LIABILITIES Accounts payable 233,658 8,282 241,940 Billings in excess of costs (1) 17,559 8,282 25,841 Total Current Liabilities 393,071 8,282 401,353 OTHER LIABILITIES 106,710 (1,566 ) 105,144 Total Liabilities 1,610,499 6,716 1,617,215 SHAREHOLDERS' EQUITY Retained Earnings 550,523 (5,673 ) 544,850 Total Shareholders' Equity 474,391 (5,673 ) 468,718 Total Liabilities and Shareholders’ Equity $ 2,084,890 $ 1,043 $ 2,085,933 (1) Billings in excess of costs is reported in Accounts payable on the Company's Consolidated Balance Sheets. The impact to the Company's Consolidated Statement of Operations for the three and six months ended March 31, 2019 and to the Company's Balance Sheet as of March 31, 2019 was as follows: For the Three Months Ended March 31, 2019 Income Statement As Reported Balances Without Adoption of ASC 606 Effect of Adoption Higher/(Lower) Net sales $ 549,633 $ 548,053 $ 1,580 Cost of goods and services 412,129 410,898 1,231 Income (loss) before taxes from continuing operations 9,684 9,335 349 Provision (benefit) from income taxes 3,194 3,118 76 Income from continuing operations 6,490 6,217 273 For the Six Months Ended March 31, 2019 Income Statement As Reported Balances Without Adoption of ASC 606 Effect of Adoption Higher/(Lower) Net sales $ 1,060,155 $ 1,053,969 $ 6,186 Cost of goods and services 779,605 775,109 4,496 Income before taxes from continuing operations 23,649 21,960 1,689 Provision (benefit) from income taxes 8,406 8,038 368 Income from continuing operations 15,243 13,922 1,321 As of March 31, 2019 Balance Sheet As Reported Balances Without Adoption of ASC 606 Effect of Adoption Higher/(Lower) CURRENT ASSETS Contract costs and recognized income not yet billed, net of progress payments $ 83,904 $ 98,700 $ (14,796 ) Inventories 457,071 439,543 17,528 Total Current Assets 989,105 986,373 2,732 Total Assets 2,143,908 2,141,176 2,732 CURRENT LIABILITIES Accounts payable 223,188 214,906 8,282 Billings in excess of costs 28,227 19,945 8,282 Total Current Liabilities 366,184 357,902 8,282 OTHER LIABILITIES 94,938 96,136 (1,198 ) Total Liabilities 1,669,624 1,662,540 7,084 SHAREHOLDERS' EQUITY Retained Earnings 545,600 549,952 (4,352 ) Total Shareholders' Equity 474,284 478,636 (4,352 ) Total Liabilities and Shareholders’ Equity $ 2,143,908 $ 2,141,176 $ 2,732 The Company’s accounting policy has been updated to align with the new standard to recognize revenue when the following criteria are met: 1) Contract with the customer has been identified; 2) Performance obligations in the contract have been identified; 3) Transaction price has been determined; 4) Transaction price has been allocated to the performance obligations; and 5) Revenue is recognized when (or as) performance obligations are satisfied. See Note 12 - Business Segments for revenue from contracts with customers disaggregated by end markets, segments and geographic location. Performance Obligations 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 under ASC Topic 606. 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 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 are 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). A contract's transaction price is allocated to each distinct performance obligation and recognized as revenue when each performance obligation is satisfied. A majority of the Company’s contracts have a single performance obligation which represents, in most cases, the product being sold to the customer. To a lesser extent, some contracts include multiple performance obligations such as a product, the related installation, and extended warranty services. These contracts require judgment in determining the number of performance obligations. Over 80% of the Company’s performance obligations are recognized at a point in time that relate to the manufacture and sale of a broad range of products and components within the HBP Segment, and revenue is recognized when title, and risk and rewards of ownership, have transferred to the customer. Less than 20% of the Company’s performance obligations are recognized over time or under the percentage-of-completion method relating to prime or subcontractors from contract awards with the U.S. Government, as well as foreign governments and other commercial customers within our Defense Electronics Segment. Sales recognized over time are generally accounted for using an input measure to determine progress completed at the end of the period. We believe that cumulative costs incurred to date as a percentage of estimated total contract costs at completion is an appropriate measure of progress towards satisfaction of performance obligations, as it most accurately depicts the progress of our work and transfer of control to our customers. Revenue from HBP Segment A majority of the HBP Segment revenue is short cycle in nature with shipments occurring within one year from order and does not include a material long-term financing component, implicitly or explicitly. Payment terms generally range between 15 to 90 days and vary by the location of the business, the type of products manufactured to be sold and the volume of products sold, among other factors. The Company’s HBP Segment recognizes revenue from product sales when all factors are met, including when control of a product transfers to the customer upon its shipment, completion of installation, testing, certification or other substantive acceptance required under the contract. Other than standard product warranty provisions, sales arrangements provide for no other significant post-shipment obligations on the Company. From time-to-time and for certain customers, rebates and other sales incentives, promotional allowances or discounts are offered, typically related to customer purchase volumes, all of which are fixed or determinable and are classified as a reduction of revenue and recorded at the time of sale. Griffon provides for sales returns and allowances based upon historical returns experience. The majority of the Company’s contracts in the HBP Segment offer assurance-type warranties in connection with the sale of a product to a customer. Assurance-type warranties provide a customer with assurance that the related product will function as the parties intended because it complies with agreed-upon specifications. Such warranties do not represent a separate performance obligation. Payment terms in the HBP Segment vary depending on the type and location of the customer and the products or services offered. Generally, the period between the time revenue is recognized and the time payment is due is not significant. Shipping and handling charges are not considered a separate performance obligation. If revenue is recognized for a good before it is shipped and handled, the related shipping and handling costs must be accrued. Additionally, all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) are excluded from revenue. The Company's policies related to shipping, handling and taxes have not changed with the adoption of ASC 606. Revenue from Defense Electronics Segment The Company’s Defense Electronics segment earns a substantial portion of its revenue as either a prime contractor or subcontractor from contract awards with the U.S. Government, as well as foreign governments and other commercial customers. These contracts are typically long-term in nature, usually greater than one year and do not include a material long-term financing component, either implicitly or explicitly. Revenue and profits from such contracts are recognized under the percentage-of-completion (over time) method of accounting. Revenue and profits on fixed-price contracts that contain engineering as well as production requirements are recorded based on the ratio of total actual incurred costs to date to the total estimated costs for each contract (cost-to-cost method). Using the cost-to-cost method, revenue is recorded at amounts equal to the ratio of actual cumulative costs incurred divided by total estimated costs at completion, multiplied by the total estimated contract revenue, less the cumulative revenue recognized in prior periods. The profit recorded on a contract using this method is equal to the current estimated total profit margin multiplied by the cumulative revenue recognized, less the amount of cumulative profit previously recorded for the contract in prior periods. As this method relies on the substantial use of estimates, these projections may be revised throughout the life of a contract. Components of this formula and ratio that may be estimated include gross profit margin and total costs at completion. The cost performance and estimates to complete long-term contracts are reviewed, at a minimum, on a quarterly basis, as well as when information becomes available that would necessitate a review of the current estimate. Adjustments to estimates for a contract's estimated costs at completion and estimated profit or loss are often required as experience is gained, more information is obtained (even though the scope of work required under the contract may or may not change) and contract modifications occur. The impact of such adjustments to estimates is made on a cumulative basis in the period when such information has become known. For the three and six months ended March 31, 2019, income from operations included net favorable/(unfavorable) catch-up adjustments approximating $(2,800) and $(5,300) , respectively. For the three and six months ended March 31, 2018, income from operations included net favorable/(unfavorable) catch up adjustments approximating $(1,800) and $(1,300) , respectively. Gross profit is impacted by a variety of factors, including the mix of products, systems and services, production efficiencies, price competition and general economic conditions. Revenue and profits on cost-reimbursable type contracts are recognized as allowable costs are incurred on the contract at an amount equal to the allowable costs plus the estimated profit on those costs. The estimated profit on a cost-reimbursable contract may be fixed or variable based on the contractual fee arrangement. Incentive and award fees on these contracts are recorded as revenue when the criteria under which they are earned are reasonably assured of being met and can be estimated. For contracts with multiple performance obligations, judgment is required to determine whether performance obligations specified in these contacts are distinct and should be accounted for as separate revenue transactions for recognition purposes. In these types of contracts, the Company allocates the total transaction price to each performance obligation in an amount based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. The Company uses an observable price to determine the stand-alone selling price for separate performance obligations or a cost plus margin approach when one is not available. For contracts in which anticipated total costs exceed the total expected revenue, an estimated loss is recognized in the period when identifiable. A provision for the entire amount of the estimated loss is recorded on a cumulative basis. The estimated remaining costs to complete loss contracts as of March 31, 2019 and September 30, 2018 were approximately $7,400 and $12,200 , respectively, and is recorded as a reduction to gross margin on the Consolidated Statements of Operations and Comprehensive Income (Loss). This loss had an immaterial impact on Griffon's Consolidated Financial Statements. Amounts representing contract change orders or claims are included in revenue only when they can be reliably estimated and their realization is probable, and are determined on a percentage-of-completion basis measured by the cost-to-cost method. Substantially all of Telephonics’ U.S. Government end-user contracts contain a termination for convenience clause, regardless whether Telephonics is the prime contractor or the subcontractor. This clause generally entitles Telephonics, upon a termination for convenience, to receive the purchase price for delivered items, reimbursement of allowable work-in-process costs, and an allowance for profit. Allowable costs would include the costs to terminate existing agreements with suppliers. From time to time, Telephonics may combine contracts if they are negotiated together, have specific requirements to combine, or are otherwise closely related. Transaction Price Allocated to the Remaining Performance Obligations On March 31, 2019, we had $378,300 of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 73% of our remaining performance obligations as revenue within one year, with the balance to be completed thereafter. Backlog represents the dollar value of funded orders for which work has not been performed. Backlog generally increases with bookings, and converts into revenue as we incur costs related to contractual commitments or the shipment of product. Given the nature of our business and a larger dependency on international customers, our bookings, and therefore our backlog, is impacted by the longer maturation cycles resulting in delays in the timing and amounts of such awards, which are subject to numerous factors, including fiscal constraints placed on customer budgets; political uncertainty; the timing of customer negotiations; and the timing of governmental approvals. Contract Balances Contract assets were $83,904 as of March 31, 2019 compared to $121,803 as of September 30, 2018. The $37,899 decrease in our contract assets balance was primarily due to the implementation of ASC 606. Excluding the impact of ASC 606, the decrease was primarily due to the timing of billings and work performed on various radar and surveillance programs. Contract assets primarily relate to the Company's right to consideration for work completed but not billed at the reporting date and are recorded in Contract costs and recognized income not yet billed, net of progress payments in the Consolidated Balance Sheets. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract costs and recognized income not yet billed consists of amounts accounted for under the percentage of completion method of accounting, recoverable costs and accrued profit that cannot yet be invoiced under the terms of certain long-term contracts. Amounts will be invoiced when applicable contract terms, such as the achievement of specified milestones or product delivery, are met. At March 31, 2019 and September 30, 2018, approximately $21,700 and $29,500 , respectively, of contract costs and recognized income not yet billed were expected to be collected after one year. As of March 31, 2019 and September 30, 2018, Contract costs and recognized income not yet billed included $700 and $400 , respectively, of reserves for contract risk. Contract liabilities were $28,227 as of March 31, 2019 compared to $17,559 as of September 30, 2018. The $10,668

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Griffon accounts for acquisitions under the acquisition method, in which assets acquired and liabilities assumed are recorded at fair value as of the date of acquisition using a method substantially similar to the goodwill impairment test methodology (level 3 inputs). The operating results of the acquired companies are included in Griffon’s consolidated financial statements from the date of acquisition; in each instance, Griffon is in the process of finalizing the initial purchase price allocation unless otherwise noted. On June 4, 2018, CBP completed the acquisition of 100% of the outstanding stock of CornellCookson, a leading US manufacturer and marketer of rolling steel door and grille products designed for commercial, industrial, institutional and retail use, for $180,000 , excluding the estimated present value of tax benefits, and $12,426 of post-closing adjustments, primarily consisting of a working capital adjustment. The acquisition of CornellCookson substantially expanded CBP’s non-residential product offerings, and added an established professional dealer network focused on rolling steel door and grille products for commercial, industrial, institutional and retail use. There is no other contingent consideration arrangement relative to the acquisition of CornellCookson. CornellCookson’s accounts, affected for adjustments to reflect fair market values assigned to assets purchased and liabilities assumed, and results of operations are included in the Company’s consolidated financial statements from the date of acquisition. The Company has recorded a preliminary allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair market values (level 3 inputs) at the acquisition date. The excess of the purchase price over the fair value of the net tangible and intangible assets was recorded as goodwill and is deductible for tax purposes. Goodwill recognized at the acquisition date represents the other intangible benefits that the Company will derive from the ownership of CornellCookson; however, such intangible benefits do not meet the criteria for recognition of separately identifiable intangible assets. The calculation of the preliminary purchase price allocation, which is pending finalization of tax-related items and completion of the related final valuation, is as follows: Accounts receivable (1) $ 30,400 Inventories (2) 12,336 Property, plant and equipment 49,426 Goodwill 43,183 Intangible assets 67,600 Other current and non-current assets 2,648 Total assets acquired 205,593 Accounts payable and accrued liabilities 12,507 Long-term liabilities 660 Total liabilities assumed 13,167 Total $ 192,426 (1) Includes $30,818 of gross accounts receivable of which $418 was not expected to be collected. The fair value of accounts receivable approximated book value acquired. (2) Includes $13,434 of gross inventory of which $1,098 was reserved for obsolete inventory. The preliminary amounts assigned to goodwill and major intangible asset classifications, all of which are tax deductible, for the CornellCookson acquisition are as follows: Average Goodwill $ 43,183 N/A Indefinite-lived intangibles 53,500 N/A Definite-lived intangibles 14,100 12 Total goodwill and intangible assets $ 110,783 On February 13, 2018, AMES acquired 100% of the outstanding stock of Kelkay Limited ("Kelkay"), a leading United Kingdom manufacturer and distributor of decorative outdoor landscaping products sold to garden centers, retailers and grocers in the UK and Ireland for $56,118 (GBP 40,452 ), subject to contingent consideration of up to GBP 7,000 . This acquisition broadened AMES' product offerings in the market and increased its in-country operational footprint. The purchase price was primarily allocated to tradenames of GBP 19,000 , customer related intangibles of GBP 6,640 , accounts receivable and inventory of GBP 8,894 and fixed asset and land of GBP 8,241 . On November 6, 2017, AMES acquired substantially all of the assets of Harper Brush Works ("Harper"), a division of Horizon Global, for $4,383 , inclusive of post-closing adjustments. Harper is a leading U.S. manufacturer of cleaning products for professional, home, and industrial use. The acquisition expanded AMES’ long-handled tool offering in North America to include brooms, brushes, and other cleaning tools and accessories. The purchase price was primarily allocated to intangible assets of $2,300 , inventory and accounts receivable of $3,900 and fixed assets of $900 . On October 2, 2017, Griffon Corporation completed the acquisition of ClosetMaid, a market leader in home storage and organization products, for approximately $185,700 , inclusive of certain post-closing adjustments and excluding the present value of net tax benefits from the transaction. The acquisition of ClosetMaid expanded Griffon’s Home and Building Products segment into the highly complementary home storage and organization category with a leading brand and product portfolio. ClosetMaid's accounts, affected for adjustments to reflect fair market values assigned to assets purchased and liabilities assumed, and results of operations, are included in the Company’s consolidated financial statements from the date of acquisition. The Company has recorded an allocation of the purchase price to the Company’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair market values (level 3 inputs) at the acquisition date. The excess of the purchase price over the fair value of the net tangible and intangible assets was recorded as goodwill and is deductible for tax purposes. Goodwill recognized at the acquisition date represents the other intangible benefits that the Company will derive from the ownership of ClosetMaid; however, such intangible benefits do not meet the criteria for recognition of separately identifiable intangible assets. The calculation of the final purchase price allocation is as follows: Accounts receivable (1) $ 32,234 Inventories (2), (3) 28,411 Property, plant and equipment 47,464 Goodwill 70,159 Intangible assets 74,580 Other current and non-current assets 3,852 Total assets acquired 256,700 Accounts payable and accrued liabilities 68,251 Long-term liabilities 2,720 Total liabilities assumed 70,971 Total $ 185,729 (1) Includes $32,956 of gross accounts receivable of which $722 was not expected to be collected. The fair value of accounts receivable approximated book value acquired. (2) Includes $29,079 of gross inventory of which $668 was reserved for obsolete inventory. The fair value of inventory approximated book value acquired. (3) Includes $1,500 in inventory basis step-up, which was charged to cost of goods sold over the inventory turns of the acquired entity. The amounts assigned to goodwill and major intangible asset classifications, all of which are tax deductible, for the ClosetMaid acquisition are as follows: Average Goodwill $ 70,159 N/A Indefinite-lived intangibles 47,740 N/A Definite-lived intangibles 26,840 21 Total goodwill and intangible assets $ 144,739 The Company did no t incur any acquisition costs during the three and six months ended March 31, 2019. During the three months ended March 31, 2018, selling, general and administrative expenses ("SG&A") included acquisition costs of $814 . During the six months ended March 31, 2018, SG&A and Cost of goods and services included acquisition costs of $2,499 and $1,500

INVENTORIES

INVENTORIES	6 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost (first-in, first-out or average) or market. The following table details the components of inventory: At March 31, 2019 At September 30, 2018 Raw materials and supplies $ 104,767 $ 97,645 Work in process 112,264 83,578 Finished goods 240,040 217,136 Total $ 457,071 $ 398,359

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Mar. 31, 2019
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 March 31, 2019 At September 30, 2018 Land, building and building improvements $ 132,334 $ 130,296 Machinery and equipment 557,351 544,875 Leasehold improvements 49,983 50,111 739,668 725,282 Accumulated depreciation and amortization (406,816 ) (382,790 ) Total $ 332,852 $ 342,492 Depreciation and amortization expense for property, plant and equipment was $12,980 and $11,530 for the quarters ended March 31, 2019 and 2018 , respectively, and $25,647 and $22,232 for the six months ended March 31, 2019 and 2018, respectively. Depreciation included in SG&A expenses was $4,761 and $3,834 for the quarters ended March 31, 2019 and 2018, respectively, and $9,442 and $7,576 for the six months ended March 31, 2019 and 2018, respectively. Remaining components of depreciation, attributable to manufacturing operations, are included in Cost of goods and services. No event or indicator of impairment occurred during the six months ended March 31, 2019

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	6 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES The following table provides changes in the carrying value of goodwill by segment during the six months ended March 31, 2019 : At September 30, 2018 Goodwill from acquisitions Other At March 31, 2019 Home & Building Products $ 420,850 $ 300 $ (577 ) $ 420,573 Telephonics 18,545 — — 18,545 Total $ 439,395 $ 300 $ (577 ) $ 439,118 The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets: At March 31, 2019 At September 30, 2018 Gross Carrying Amount Accumulated Amortization Average Life (Years) Gross Carrying Amount Accumulated Amortization Customer relationships & other $ 184,582 $ 53,771 23 $ 186,031 $ 49,822 Technology and patents 19,321 6,789 13 19,004 6,238 Total amortizable intangible assets 203,903 60,560 205,035 56,060 Trademarks 221,397 — 221,883 — Total intangible assets $ 425,300 $ 60,560 $ 426,918 $ 56,060 Amortization expense for intangible assets was $2,512 and $1,783 for the quarters ended March 31, 2019 and 2018, respectively, and $4,930 and $4,039 for the six months ended March 31, 2019 and 2018. Amortization expense for the remainder of 2019 and the next five fiscal years and thereafter, based on current intangible balances and classifications, is estimated as follows: 2019 - $4,400 ; 2020 - $8,825 ; 2021 - $8,825 ; 2022 - $8,825 ; 2023 - $8,746 ; 2024 - $8,700 ; thereafter $95,022 . No event or indicator of impairment occurred during the six months ended March 31, 2019

INCOME TAXES

INCOME TAXES	6 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES During the three months ended March 31, 2019, the Company recognized a tax provision of $3,194 on income before taxes from continuing operations of $9,684 , compared to a tax provision of $1,237 on income before taxes from continuing operations of $3,188 , in the comparable prior year quarter. The current year included net discrete tax benefits of $97 . The prior year quarter results included acquisition costs of $814 ( $378 , net of tax) and discrete and certain other tax provisions, net, that affect comparability of $368 . Excluding these items, the effective tax rates for the quarters ended March 31, 2019 and 2018 were 34.0% and 32.6% , respectively. During the six months ended March 31, 2019, the Company recognized a tax provision of $8,406 on Income before taxes from continuing operations of $23,649 , compared to a tax benefit of $23,667 on Income before taxes from continuing operations of $1,115 in the comparable prior year period. The six month period ended March 31, 2019 included net discrete tax provisions of $370 . The six month period ended March 31, 2018 included net discrete tax benefits of $22,650 primarily related to the December 22, 2017 Tax Cuts and Jobs Act ("TCJA") associated with the revaluation of deferred tax liabilities, $3,999 ( $2,726 net of tax) of acquisition costs, and $2,614 ( $248 net of tax) of charges related to cost of life insurance benefits. Excluding these items, the effective tax rates for the six months ended March 31, 2019 and 2018 were 34.0% and 33.9% , respectively. On December 22, 2017, the TCJA was signed into law, and, among other changes, reduced the federal statutory tax rate from 35.0% to 21.0%

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT At March 31, 2019 At September 30, 2018 Outstanding Balance Original Issuer Premium Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Outstanding Balance Original Issuer Premium Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Senior notes due 2022 (a) $ 1,000,000 $ 1,043 $ (11,066 ) $ 989,977 5.25 % $ 1,000,000 $ 1,220 $ (12,968 ) $ 988,252 5.25 % Revolver due 2021 (b) 157,936 — (1,682 ) 156,254 Variable 25,000 — (1,413 ) 23,587 Variable ESOP Loans (d) — — — — Variable 34,694 — (186 ) 34,508 Variable Capital lease - real estate (e) 5,971 — (68 ) 5,903 5.00 % 7,503 — (80 ) 7,423 5.00 % Non US lines of credit (f) 17,423 — (8 ) 17,415 Variable 7,951 — (16 ) 7,935 Variable Non US term loans (f) 42,014 — (182 ) 41,832 Variable 53,533 — (148 ) 53,385 Variable Other long term debt (g) 5,640 — (19 ) 5,621 Variable 6,011 — (19 ) 5,992 Variable Totals 1,228,984 1,043 (13,025 ) 1,217,002 1,134,692 1,220 (14,830 ) 1,121,082 less: Current portion (10,807 ) — — (10,807 ) (13,011 ) — — (13,011 ) Long-term debt $ 1,218,177 $ 1,043 $ (13,025 ) $ 1,206,195 $ 1,121,681 $ 1,220 $ (14,830 ) $ 1,108,071 Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Effective Interest Rate (1) Cash Interest Amort. Debt Amort. Debt Issuance Costs Total Interest Expense Effective Interest Rate (1) Cash Interest Amort. Debt Amort. Total Interest Expense Senior notes due 2022 (a) 5.7 % $ 13,125 $ 66 $ 951 $ 14,142 5.7 % $ 13,125 $ 68 $ 943 $ 14,136 Revolver due 2021 (b) Variable 1,631 — 400 2,031 Variable 922 — 140 1,062 Real estate mortgages (c) n/a — — — — n/a 166 — 303 469 ESOP Loans (d) 7.2 % 449 — 155 604 4.6 % 442 — 31 473 Capital lease - real estate (e) 5.6 % 101 — 6 107 5.5 % 327 — 7 334 Non US lines of credit (f) Variable 4 — 4 8 Variable 4 — — 4 Non US term loans (f) Variable 449 — 26 475 Variable 330 — 18 348 Other long term debt (g) Variable 147 — 3 150 Variable 114 — 1 115 Capitalized interest — — — — (135 ) — — (135 ) Totals $ 15,906 $ 66 $ 1,545 $ 17,517 $ 15,295 $ 68 $ 1,443 $ 16,806 (1) n/a = not applicable Six Months Ended March 31, 2019 Six Months Ended March 31, 2018 Effective Interest Rate (1) Cash Interest Amort. Debt Amort. Debt Issuance Costs Total Interest Expense Effective Interest Rate Cash Interest Amort. Debt Amort. Total Interest Expense Senior notes due 2022 (a) 5.7 % 26,250 134 1,902 28,286 5.7 % 26,250 135 1,882 28,267 Revolver due 2021 (b) Variable 2,564 — 541 3,105 Variable 2,278 — 281 2,559 Real estate mortgages (c) n/a — — — — n/a 351 — 320 671 ESOP Loans (d) 6.6 % 937 — 186 1,123 4.3 % 855 — 62 917 Capital lease - real estate (e) 5.5 % 216 — 12 228 10.7 % 491 — 13 504 Non US lines of credit (f) Variable 11 — 8 19 Variable 11 — 7 18 Non US term loans (f) Variable 897 — 53 950 Variable 664 — 51 715 Other long term debt (g) Variable 329 — 6 335 Variable 229 — 3 232 Capitalized interest — — — — (238 ) — — (238 ) Totals $ 31,204 $ 134 $ 2,708 $ 34,046 $ 30,891 $ 135 $ 2,619 $ 33,645 On October 2, 2017, in an unregistered offering through a private placement under Rule 144A, Griffon completed the add-on offering of $275,000 principal amount of its 5.25% senior notes due 2022, at 101.00% of par, to Griffon's previously issued $125,000 principal amount of its 5.25% senior notes due 2022, at 98.76% of par, completed on May 18, 2016 and $600,000 5.25% senior notes due 2022, at par, completed on February 27, 2014 (collectively the “Senior Notes”). As of March 31, 2019 , outstanding Senior Notes due totaled $1,000,000 ; interest is payable semi-annually on March 1 and September 1. The net proceeds of the $275,000 add-on offering were used to acquire ClosetMaid with the remaining proceeds used to pay down outstanding loan borrowings under Griffon's Revolving Credit Facility (the "Credit Agreement"). The net proceeds of the previously issued $125,000 add-on offering were used to pay down outstanding revolving loan borrowings under the Credit Agreement. The Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. On February 5, 2018, July 20, 2016 and June 18, 2014, Griffon exchanged all of the $275,000 , $125,000 and $600,000 Senior Notes, respectively, for substantially identical Senior Notes registered under the Securities Act via an exchange offer. The fair value of the Senior Notes approximated $985,770 on March 31, 2019 based upon quoted market prices (level 1 inputs). In connection with the issuance and exchange of the $275,000 senior notes, Griffon capitalized $8,472 of underwriting fees and other expenses; this is in addition to the $13,329 capitalized under previously issued $600,000 Senior Notes. All capitalized fees for the Senior Notes will amortize over the term of the notes and, at March 31, 2019 , $11,066 remained to be amortized. (b) On March 22, 2016, Griffon amended the Credit Agreement to increase the commitments under the credit facility from $250,000 to $350,000 , extend its maturity date from March 13, 2020 to March 22, 2021 and modify certain other provisions of the facility. On October 2, 2017 and on May 31, 2018, Griffon amended the Credit Agreement in connection with the ClosetMaid and CornellCookson acquisitions, respectively to, among other things, modify the net leverage covenant. On February 22, 2019, Griffon further amended the Revolving Credit Facility to, among other things, reflect changes in the lending group and certain corresponding changes in various administrative roles under the Revolving Credit Facility, make conforming administrative and technical changes and reflect changes in law. The facility includes a letter of credit sub-facility with a limit of $50,000 and a multi-currency sub-facility of $100,000 . The Credit Agreement provides for same day borrowings of base rate loans. Borrowings under the Credit Agreement may be repaid and re-borrowed at any time, subject to final maturity of the facility or the occurrence of an event of default under the Credit Agreement. Interest is payable on borrowings at either a LIBOR or base rate benchmark rate, in each case without a floor, plus an applicable margin, which adjusts based on financial performance. Current margins are 1.75% for base rate loans and 2.75% for LIBOR loans. The Credit Agreement 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. 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. At March 31, 2019 , under the Credit Agreement, there were $157,936 outstanding borrowings; outstanding standby letters of credit were $16,081 ; and $175,983 was available, subject to certain loan covenants, for borrowing at that date. (c) In September 2015 and March 2016, Griffon entered into mortgage loans in the amounts of $32,280 and $8,000 , respectively, and were due to mature in September 2025 and April 2018, respectively. The mortgage loans were secured and collateralized by four properties occupied by Griffon's subsidiaries and were guaranteed by Griffon. The loans had an interest rate of LIBOR plus 1.50% . The loans were paid off during the year ended September 30, 2018. (d) In August 2016, Griffon’s ESOP entered into an agreement that refinanced the existing ESOP loan into a new Term Loan in the amount of $35,092 (the "Agreement"). The Agreement also provided for a Line Note with $10,908 available to purchase shares of Griffon common stock in the open market. During 2017, Griffon's ESOP purchased 621,875 shares of common stock for a total of $10,908 or $17.54 per share, under a borrowing line that has now been fully utilized. On June 30, 2017, the Term Loan and Line Note were combined into a single Term Loan. The Term Loan interest rate was LIBOR plus 2.91% . The Term Loan required quarterly principal payments of $569 and a balloon payment due at maturity. As a result of the special cash dividend of $1.00 per share, paid on April 16, 2018, the outstanding balance of the Term Loan was reduced by $5,705 . The Term Loan was secured by shares purchased with the proceeds of the loan and with a lien on a specific amount of Griffon assets (which ranked pari passu with the lien granted on such assets under the Credit Agreement) and was guaranteed by Griffon. On March 13, 2019, the ESOP Term Loan was refinanced with an internal loan from Griffon which was funded with cash and a draw on its $350,000 credit facility. The internal loan interest rate is fixed at 2.91% , matures in June 2033 and requires quarterly payments of principal, currently $569 , and interest. The internal loan is secured by shares purchased with the proceeds of the loan. The amount outstanding on the internal loan at March 31, 2019 was $33,556 . (e) Two Griffon subsidiaries have capital leases outstanding for real estate located in Troy, Ohio and Ocala, Florida. The leases mature in 2021 and 2022 , respectively, and bear interest at fixed rates of approximately 5.0% and 8.0% , respectively. The Troy, Ohio lease is secured by a mortgage on the real estate and is guaranteed by Griffon. The Ocala, Florida lease contains two five -year renewal options. At March 31, 2019 , $5,903 was outstanding, net of issuance costs. (f) In November 2012, Garant G.P. (“Garant”) entered into a CAD $15,000 ( $11,174 as of March 31, 2019 ) revolving credit facility. The facility accrues interest at LIBOR (USD) or the Bankers Acceptance Rate (CDN) plus 1.3% per annum ( 3.79% LIBOR USD and 3.14% Bankers Acceptance Rate CDN as of March 31, 2019 ). The revolving facility matures in October 2019. Garant is required to maintain a certain minimum equity. At March 31, 2019 , there were no borrowings under the revolving credit facility with CAD 15,000 ( $11,174 as of March 31, 2019 ) available for borrowing. In July 2016, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries ("Griffon Australia") entered into an AUD 30,000 term loan and an AUD 10,000 revolver. The term loan refinanced two existing term loans and the revolver replaced two existing lines. In December 2016, the amount available under the revolver was increased from AUD 10,000 to AUD 20,000 and, in March 2017 and September 2017, the term loan commitment was increased by AUD 5,000 and AUD 15,000 , respectively. In March 2019, the term loan commitment was reduced by AUD $10,000 with proceeds from a receivable purchase agreement in the amount of AUD 10,000 . The term loan requires quarterly principal payments of AUD 1,250 plus interest with a balloon payment of AUD 13,375 due upon maturity in March 2022, and accrues interest at Bank Bill Swap Bid Rate “BBSY” plus 1.90% per annum ( 3.62% at March 31, 2019 ). As of March 31, 2019 , the term loan had an outstanding balance of AUD 28,375 ( $20,104 as of March 31, 2019 ). The revolving facility and receivable purchase facility mature in March 2020, but are renewable upon mutual agreement with the lender. The revolving facility and receivable purchase facility accrue interest at BBSY plus 1.8% and 1.0% , respectively, per annum ( 3.55% and 2.75% , respectively, at March 31, 2019 ). At March 31, 2019, the revolver and receivable purchase facilities had outstanding balances of AUD 6,000 and AUD 10,000 , respectively ( $4,251 and $7,085 , respectively, as of March 31, 2019). The revolver, receivable purchase facility and the term loan are all secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level and is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. In July 2018, the AMES Companies UK Ltd and its subsidiaries ("AMES UK") entered into a GBP 14,000 term loan, GBP 4,000 mortgage loan and GBP 5,000 revolver. The term loan and mortgage loan require quarterly principal payments of GBP 350 and GBP 83 plus interest, respectively, and have balloon payments due upon maturity, July 2023, of GBP 7,000 and GBP 2,333 , respectively. The Term Loan and Mortgage Loans accrue interest at the GBP LIBOR Rate plus 2.25% and 1.8% , respectively ( 3.10% and 2.65% at March 31, 2019 , respectively). The revolving facility matures in July 2019, but is renewable upon mutual agreement with the lender, and accrues interest at the Bank of England Base Rate plus 1.5% ( 2.25% as of March 31, 2019 ). As of March 31, 2019, the revolver had an outstanding balance of GBP 4,639 ( $6,087 as March 31, 2019 ) while the term and mortgage loan balances amounted to GBP $16,698 ( $21,910 as of March 31, 2019). The revolver and the term loan are both secured by substantially all of the assets of AMES UK and its subsidiaries. AMES UK is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. An invoice discounting arrangement was canceled and replaced by the above loan facilities. (g) Other long-term debt consists primarily of a loan with the Pennsylvania Industrial Development Authority, with the balance consisting of capital leases. At March 31, 2019

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Mar. 31, 2019
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY During 2019, the Company paid a quarterly cash dividend of $0.0725 per share in each quarter, totaling $0.145 per share for the six months ended March 31, 2019. During 2018, the Company paid a quarterly cash dividend of $0.07 per share, totaling $0.28 per share for the year. In addition, on March 7, 2018, the Board of Directors declared a special cash dividend of $1.00 per share, totaling $38,073 , paid on April 16, 2018 to shareholders of record as of the close of business on March 29, 2018. Dividends paid on shares in the ESOP were used to offset ESOP loan payments and recorded as a reduction of debt service payments and compensation expense. A dividend payable was established for the holders of restricted shares; such dividends will be released upon vesting of the underlying restricted shares. In March 2019, the ESOP Term Loan was refinanced with a loan from Griffon which was funded with cash and a draw on its $350,000 credit facility, and dividend paid on allocated shares in the ESOP are allocated to participant accounts in the form of additional shares. On May 2, 2019, the Board of Directors declared a quarterly cash dividend of $0.0725 per share, payable on June 20, 2019 to shareholders of record as of the close of business on May 24, 2019. Compensation expense for restricted stock is recognized ratably over the required service period based on the fair value of the grant, calculated as the number of shares granted multiplied by the stock price on the date of grant and, for performance shares, the likelihood of achieving the performance criteria. 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. On January 29, 2016, shareholders approved the Griffon Corporation 2016 Equity Incentive Plan ("Incentive Plan") under which 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 Incentive Plan pursuant to which, among other things, 1,000,000 shares were added to the Incentive Plan. Options granted under the 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 Incentive Plan is 3,350,000 ( 600,000 of which may be issued as incentive stock options), plus (i) any shares reserved for issuance under the 2011 Equity Incentive Plan as of the effective date of the Incentive Plan, and (ii) any shares underlying awards outstanding on such effective date under the 2011 Incentive Plan that are canceled or forfeited. As of March 31, 2019 , there were 276,442 shares available for grant. All grants outstanding under former equity plans will continue under their terms; no additional awards will be granted under such plans. During the first quarter of 2019, Griffon granted 1,194,538 shares of restricted stock and restricted stock units. This included 666,538 shares of restricted stock and restricted stock units, subject to certain performance conditions, with vesting periods of three years , with a total fair value of $8,105 , or a weighted average fair value of $12.16 per share. This also included 528,000 shares of restricted stock granted to two senior executives with a vesting period of four years and a two year post-vesting holding period, subject to the achievement of certain absolute and relative performance conditions relating to the price of Griffon's common stock. So long as the minimum performance condition is attained, the amount of shares that can vest will range from 384,000 to 528,000 . The total fair value of these restricted shares is approximately $3,576 , or a weighted average fair value of $6.77 . During the second quarter, Griffon granted 62,227 restricted shares, subject to certain performance conditions, with a vesting period of three years and a fair value of $990 , or a weighted average fair value of $15.91 per share. For the quarters ended March 31, 2019 and 2018, stock based compensation expense totaled $3,422 and $2,365 , respectively. For the six months ended March 31, 2019 and 2018 , stock based compensation expense totaled $6,355 and $4,920 , respectively. On each of August 3, 2016 and August 1, 2018, Griffon’s Board of Directors authorized the repurchase of up to $50,000 of Griffon’s outstanding common stock. Under this share repurchase program, the Company may purchase shares in the open market, including pursuant to a 10b5-1 plan, or in privately negotiated transactions. During the quarter and six months ended March 31, 2019, Griffon purchased 8,200 and 37,500 shares, respectively, of common stock under these repurchase programs, for a total of $82 or $9.95 per share, and $372 or $9.92 per share, respectively. As of March 31, 2019 , an aggregate of $57,955 remains under Griffon's Board authorized repurchase programs. In addition, during the quarter and six months ended March 31, 2019 , 2,714 shares, with a market value of $49 or $17.90 per share, and 85,847 shares, with a market value of $1,059 , or $12.34 per share, respectively, were withheld to settle employee taxes due upon the vesting of restricted stock, and were added to treasury stock. During the first quarter ended December 31, 2018, an additional 3,861 shares, with a market value of $47 , or $12.16

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)	6 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (EPS) Basic EPS (and diluted EPS in periods when a loss exists) 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. The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share: Three Months Ended March 31, Six Months Ended March 31, 2019 2018 2019 2018 Weighted average shares outstanding - basic 40,949 41,477 40,849 41,700 Incremental shares from stock based compensation 1,883 1,288 1,527 1,362 Weighted average shares outstanding - diluted 42,832 42,765 42,376 43,062

BUSINESS SEGMENTS

BUSINESS SEGMENTS	6 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
BUSINESS SEGMENTS	BUSINESS SEGMENTS Griffon’s reportable segments from continuing operations are as follows: • HBP is a global provider of long-handled tools and landscaping products for homeowners and professionals; a leading North American manufacturer and marketer of wood and wire closet organization, general living storage and wire garage storage products to home center retail chains, mass merchandisers, and direct-to builder professional installers; a leading manufacturer and marketer of residential and commercial garage doors to professional dealers and to some of the largest home center retail chains in North America; as well as a leading U.S. manufacturer and marketer of rolling steel door and grille products designed for commercial, industrial, institutional, and retail use. • Defense Electronics segment consists of Telephonics, a globally recognized leading provider of highly sophisticated intelligence, surveillance and communications solutions for defense, aerospace and commercial customers. On November 16, 2017, Griffon announced it entered into a definitive agreement to sell Clopay Plastics Products Company, Inc. ("PPC") and on February 6, 2018, completed the sale to Berry Global Group, Inc. ("Berry") . As a result, Griffon classified the results of operations of the PPC business as discontinued operations in the Consolidated Statements of Operations for all periods presented and classified the related assets and liabilities associated with the discontinued operations in the consolidated balance sheets. All results and information presented exclude PPC unless otherwise noted. See Note 15, Discontinued Operations to the Notes of the Financial Statements. On June 4, 2018, CBP acquired CornellCookson, a leading US manufacturer and marketer of rolling steel door and grille products designed for commercial, industrial, institutional and retail use. The accounts, affected for preliminary adjustments to reflect fair market values assigned to assets purchased and liabilities assumed, and results of operations of CornellCookson, are included in the Company’s consolidated financial statements from the date of acquisition. Information on Griffon’s reportable segments from continuing operations is as follows: For the Three Months Ended March 31, For the Six Months Ended March 31, REVENUE 2019 2018 2019 2018 Home & Building Products: AMES $ 287,732 $ 258,196 $ 504,206 $ 474,938 CBP 186,799 138,112 410,094 292,348 Home & Building Products 474,531 396,308 914,300 767,286 Defense Electronics 75,102 82,252 145,855 148,577 Total consolidated net sales $ 549,633 $ 478,560 $ 1,060,155 $ 915,863 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: For the Quarter Ended March 31, 2019 For the Six Months Ended March 31, 2019 Residential repair and remodel $ 128,711 $ 269,236 Retail 162,576 275,941 Commercial construction 76,181 160,557 Residential new construction 33,892 73,716 Industrial 11,416 21,174 International excluding North America 61,755 113,676 Total Home and Building Products segment 474,531 914,300 U.S. Government 46,376 91,936 International 23,129 45,228 Commercial 5,597 8,691 Total Defense Electronics segment 75,102 145,855 Total Consolidated Revenue $ 549,633 $ 1,060,155 The following table presents revenue disaggregated by geography based on the location of the Company's customer: For the Three Months Ended March 31, 2019 Revenue by Geographic Area - Destination Home & Building Products Defense Electronics Total United States $ 380,390 $ 51,179 $ 431,569 Europe 20,372 8,490 28,862 Canada 25,828 3,058 28,886 Australia 42,016 979 42,995 All other countries 5,925 11,396 17,321 Consolidated revenue $ 474,531 $ 75,102 $ 549,633 For the Six Months Ended March 31, 2019 Revenue by Geographic Area - Destination Home & Building Products Defense Electronics Total United States $ 733,133 $ 99,474 $ 832,607 Europe 28,254 18,801 47,055 Canada 56,175 5,687 61,862 Australia 86,238 1,588 87,826 All other countries 10,500 20,305 30,805 Consolidated revenue $ 914,300 $ 145,855 $ 1,060,155 The following table reconciles segment operating profit to Income (loss) before taxes from continuing operations: For the Three Months Ended March 31, For the Six Months Ended March 31, INCOME BEFORE TAXES FROM CONTINUING OPERATIONS 2019 2018 2019 2018 Segment operating profit: Home & Building Products $ 36,021 $ 28,478 $ 75,566 $ 56,229 Defense Electronics 2,315 1,302 4,464 2,782 Segment operating profit from continuing operations 38,336 29,780 80,030 59,011 Net interest expense (17,305 ) (16,044 ) (33,636 ) (32,686 ) Unallocated amounts (11,347 ) (10,541 ) (22,745 ) (20,977 ) Acquisition costs — (7 ) — (1,619 ) Cost of life insurance benefit — — — (2,614 ) Income before taxes from continuing operations $ 9,684 $ 3,188 $ 23,649 $ 1,115 Griffon evaluates performance and allocates resources based on each segment's operating results before interest income and expense, income taxes, depreciation and amortization, unallocated amounts (mainly corporate overhead), restructuring charges, loss on debt extinguishment and acquisition related expenses, as well as other items that may affect comparability, as applicable (“Segment adjusted EBITDA”). Griffon believes this information is useful to investors for the same reason. The following table provides a reconciliation of Segment adjusted EBITDA to Income (loss) before taxes from continuing operations: For the Three Months Ended March 31, For the Six Months Ended March 31, 2019 2018 2019 2018 Segment adjusted EBITDA: Home & Building Products $ 48,753 $ 39,789 $ 100,613 $ 79,246 Defense Electronics 4,936 3,997 9,721 8,196 Total Segment adjusted EBITDA 53,689 43,786 110,334 87,442 Net interest expense (17,305 ) (16,044 ) (33,636 ) (32,686 ) Segment depreciation and amortization (15,353 ) (13,199 ) (30,304 ) (26,051 ) Unallocated amounts (11,347 ) (10,541 ) (22,745 ) (20,977 ) Acquisition costs — (814 ) — (3,999 ) Cost of life insurance benefit — — — (2,614 ) Income before taxes from continuing operations $ 9,684 $ 3,188 $ 23,649 $ 1,115 Unallocated amounts typically include general corporate expenses not attributable to a reportable segment. For the Three Months Ended March 31, For the Six Months Ended March 31, DEPRECIATION and AMORTIZATION 2019 2018 2019 2018 Segment: Home & Building Products $ 12,732 $ 10,504 $ 25,047 $ 20,637 Defense Electronics 2,621 2,695 5,257 5,414 Total segment depreciation and amortization 15,353 13,199 30,304 26,051 Corporate 139 114 273 220 Total consolidated depreciation and amortization $ 15,492 $ 13,313 $ 30,577 $ 26,271 CAPITAL EXPENDITURES Segment: Home & Building Products $ 6,330 $ 8,192 $ 13,475 $ 14,850 Defense Electronics 2,499 2,442 3,733 4,385 Total segment 8,829 10,634 17,208 19,235 Corporate 192 209 210 2,393 Total consolidated capital expenditures $ 9,021 $ 10,843 $ 17,418 $ 21,628 ASSETS At March 31, 2019 At September 30, 2018 Segment assets: Home & Building Products $ 1,729,199 $ 1,631,631 Defense Electronics 325,179 346,907 Total segment assets 2,054,378 1,978,538 Corporate 86,305 103,112 Total continuing assets 2,140,683 2,081,650 Assets of discontinued operations 3,225 3,240 Consolidated total $ 2,143,908 $ 2,084,890

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which changed certain presentation and disclosure requirements for employers that sponsor defined benefit and post-retirement pension plans. The new standard requires the service cost component of the net benefit cost to be in the same line item as other compensation in operating income and the other components of net benefit plan cost, including interest costs, amortization of prior service costs and recognized actuarial costs to be presented outside of operating income on a retrospective basis. The standard was effective for fiscal years beginning after December 15, 2017. The Company adopted the requirements of the standard in the first quarter of 2019 on a retrospective basis reclassifying the other components of the net periodic benefit plan costs from Selling, general and administrative expenses to a non-service expense within Other income (expense). The defined benefit and post-retirement pension plans did not have a service cost component. The Company utilized a practical expedient included in the accounting guidance which allowed the Company to use amounts previously disclosed in its pension and other post-retirement benefits note for the prior period as the estimation basis for applying the required retrospective presentation requirements. The Company’s non-service cost components of net periodic benefit plan cost was a benefit of $787 and $882 during the three months ended March 31, 2019 and 2018, respectively and $1,574 and $1,764 during the six months ended March 31, 2019 and 2018, respectively. The impact of this adoption resulted in a reclassification to the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended March 31, 2018, in which previously reported selling, general and administrative expenses was increased by $882 and $1,764 , respectively, with a corresponding offset to Other income (expense). The remaining provisions of the standard did not have a material impact on our financial position, results of operations or liquidity. Defined benefit pension expense (income) was as follows: Three Months Ended March 31, Six Months Ended March 31, 2019 2018 2019 2018 Interest cost $ 1,571 $ 1,407 $ 3,141 $ 2,814 Expected return on plan assets (2,583 ) (2,639 ) (5,166 ) (5,278 ) Amortization: Prior service cost 3 4 7 8 Recognized actuarial loss 222 346 444 692 Net periodic expense (income) $ (787 ) $ (882 ) $ (1,574 ) $ (1,764 ) As a result of the passing of our Chairman of the Board, who participated in a Supplemental Executive Retirement Plan relating to his tenure as Chief Executive Officer (a position from which he retired in 2008), the pension benefit liability was reduced by $13,715

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In May 2017, the FASB issued guidance to address the situation when a company modifies the terms of a stock compensation award previously granted to an employee. This guidance is effective, and should be applied prospectively, for fiscal years beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual period. The new guidance is effective for the Company beginning in fiscal 2019. The Company adopted this guidance as of October 1, 2018 and it did not have a material impact on the Company's financial condition, results of operations and related disclosures. In March 2017, the FASB issued amendments to the Compensation - Retirement Benefits guidance which requires companies to retrospectively present the service cost component of net periodic benefit cost for pension and retiree medical plans along with other compensation costs in operating income and present the other components of net periodic benefit cost below operating income in the income statement. The guidance also allows only the service cost component of net periodic benefit cost to be eligible for capitalization within inventory or fixed assets on a prospective basis. This guidance was effective for fiscal years beginning after December 15, 2017. The Company adopted the requirements of the standard in the first quarter of 2019 on a retrospective basis reclassifying the other components of the net periodic benefit costs from Selling, general and administrative expenses to a non-service expense within Other (income) expense, net. This guidance did not have a material impact on the Company's results of operations. See Note 13 - Employee Benefit Plans for further information on the implementation of this guidance. In January 2017, the FASB issued guidance that clarifies the definition of a business, which will impact many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The new standard is intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods and will be effective for the Company beginning in fiscal 2019. The Company adopted the requirements of the standard in the first quarter of 2019 and it did not have a material impact on the Company's financial condition, results of operations and related disclosures. In August 2016, the FASB issued guidance on the Statement of Cash Flows Classification of certain cash receipts and cash payments (a consensus of the FASB Emerging Issues Task Force). This guidance addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This guidance will be effective for the Company beginning in fiscal 2019. The Company adopted the requirements of the standard in the first quarter of 2019 and it did not have a material impact on the Company's financial condition, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) which supersedes nearly all existing revenue recognition guidance. Subsequent to the issuance of Topic 606, the FASB clarified the guidance through several ASUs; hereinafter the collection of revenue guidance is referred to as “ASC 606”. The core principle of ASC 606 is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. On October 1, 2018, the Company adopted ASC 606 using the modified retrospective method for all contracts. Results for reporting periods beginning October 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605, Revenue Recognition. The Company recorded a net increase to beginning retained earnings of approximately $5,673 as of October 1, 2018 due to the cumulative impact of adopting ASC 606. The impact to beginning retained earnings primarily related to certain contracts in the Defense Electronics Segment containing provisions for radar and communication products that have an alternative use and/or no right to payment. The adoption of ASC 606 did not have a material impact on the Company’s Consolidated Condensed Financial Statements as of and for the three month period ended December 31, 2018. See Note 3 - Revenue for additional disclosures required by ASC 606. Issued but not yet effective accounting pronouncements In February 2018, the FASB issued guidance that allows companies to reclassify stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act (the Tax Act), from accumulated other comprehensive income to retained earnings. This guidance is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. The new standard is effective for the Company beginning in 2020, with early adoption permitted. We are currently evaluating the effects that the adoption of this guidance will have on our consolidated financial statements and the related disclosures. In August 2018, the FASB issued guidance which modifies the disclosures on fair value measurements by removing the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for timing of such transfers. This guidance expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income (loss). This guidance is effective for fiscal years beginning after December 15, 2019, with early adoption permitted, and will be effective for the Company beginning in 2021. We are currently evaluating the effects that the adoption of this guidance will have on our consolidated financial statements and the related disclosures. In August 2018, the FASB issued guidance to clarify disclosure requirements related to defined benefit pension and other post-retirement plans. The guidance is effective for fiscal years beginning after December 15, 2020, with early adoption permitted, and will be effective for the Company beginning in 2022. We are currently evaluating the effects that the adoption of this guidance will have on our consolidated financial statements and the related disclosures. In January 2017, the FASB issued guidance that simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. This guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those periods and will be effective for the Company beginning October 1, 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We do not expect this guidance to have a material impact on the Company's financial condition, results of operations and related disclosures. In February 2016, the FASB issued guidance on lease accounting requiring lessees to recognize a right-of-use asset and a lease liability for long-term leases. The liability will be equal to the present value of lease payments. This guidance must be applied using a modified retrospective transition approach to all annual and interim periods presented and is effective for the Company beginning in 2020. We are currently evaluating the impact of the guidance on the Company's financial condition, results of operations and related disclosures.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS During the quarter ended March 31, 2019, Griffon recorded an $11,000 charge ( $7,646 , net of tax) to discontinued operations. The charge consisted primarily of a purchase price adjustment to resolve a claim related to the $475,000 PPC divestiture and included an additional reserve for a legacy environmental matter. The following amounts summarize the total assets and liabilities of PPC and Installation Services and other discontinued activities which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations not held for sale in the Condensed Consolidated Balance Sheets: At March 31, 2019 At September 30, 2018 Assets of discontinued operations: Prepaid and other current assets $ 324 $ 324 Other long-term assets 2,901 2,916 Total assets of discontinued operations $ 3,225 $ 3,240 Liabilities of discontinued operations: Accrued liabilities, current $ 11,657 $ 7,210 Other long-term liabilities 2,307 2,647 Total liabilities of discontinued operations $ 13,964 $ 9,857 At March 31, 2019, Griffon's assets and liabilities for PPC and Installations Services and other discontinued operations primarily related to the above matter, insurance claims, income tax and product liability, warranty and environmental reserves totaling liabilities of approximately of $13,964 . PPC On November 16, 2017, Griffon announced it entered into a definitive agreement to sell PPC and on February 6, 2018, completed the sale to Berry for $465,000 , net of certain post-closing adjustments. As a result, Griffon classified the results of operations of the PPC business as discontinued operations in the Consolidated Statements of Operations for all periods presented and classified the related assets and liabilities associated with the discontinued operations in the consolidated balance sheets. All results and information presented exclude PPC unless otherwise noted. PPC is a global leader in the development and production of embossed, laminated and printed specialty plastic films for hygienic, health-care and industrial products and sells to some of the world's largest consumer products companies. In connection with the sale of PPC, the Company recorded a gain of $117,625 ( $86,357 , net of tax) during the quarter ended March 31, 2018. The tax computed on the PPC gain is preliminary and is subject to finalization. Summarized results of the Company’s discontinued operations are as follows: For the Three Months Ended March 31, 2018 For the Six Months Ended March 31, 2018 Revenue $ 45,832 $ 166,262 Cost of goods and services 36,157 132,100 Gross profit 9,675 34,162 Selling, general and administrative expenses 13,995 26,103 Income (loss) from discontinued operations (4,320 ) 8,059 Other income (expense) Gain on sale of business 117,625 117,625 Interest expense, net (95 ) (155 ) Other, net 166 (687 ) Total other income (expense) 117,696 116,783 Income from operations of discontinued operations $ 113,376 $ 124,842 Installation Services and Other Discontinued Activities In 2008, as a result of the downturn in the residential housing market, Griffon exited substantially all operating activities of its Installation Services segment which sold, installed and serviced garage doors and openers, fireplaces, floor coverings, cabinetry and a range of related building products, primarily for the new residential housing market. Griffon substantially concluded its remaining disposal activities in 2009. Installation Services operating results have been reported as discontinued operations in the Consolidated Statements of Operations and Comprehensive Income (Loss) for all periods presented; Installation Services is excluded from segment reporting. There was no Installation Services revenue or income for the six months ended March 31, 2019 and 2018. In 2017, Griffon recorded $5,700

OTHER INCOME (EXPENSE)

OTHER INCOME (EXPENSE)	6 Months Ended
	Mar. 31, 2019
Other Income and Expenses [Abstract]
OTHER INCOME (EXPENSE)	OTHER INCOME (EXPENSE) For the quarters ended March 31, 2019 and 2018 , Other income (expense) includes $(118) and $217 , respectively, of net currency exchange gains (losses) in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries as well as $108 and $1,266 , respectively, of net investment income. For the six months ended March 31, 2019 and 2018, Other income (expense) includes $384 and $(219) , respectively, of net currency exchange gains (losses) in connection with the translation of receivables and payables denominated in currencies other than the functional currencies of Griffon and its subsidiaries as well as $31 and $1,261 , respectively, of net investment income. Additionally, during the quarters ended March 31, 2019 and 2018, Other income (expense) included net periodic benefit plan income of $787 and $882 , respectively. During the six months ended March 31, 2019 and 2018, Other income (expense) included net periodic benefit plan income of $1,574 and $1,764

WARRANTY LIABILITY

WARRANTY LIABILITY	6 Months Ended
	Mar. 31, 2019
Product Warranties Disclosures [Abstract]
WARRANTY LIABILITY	WARRANTY LIABILITY Telephonics offers warranties against product defects for periods generally ranging from one to two years, depending on the specific product and terms of the customer purchase agreement. CBP also offers warranties against product defects for periods generally ranging from one to ten years, with limited lifetime warranties on certain door models. Typical warranties require AMES, CBP and Telephonics 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. AMES 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. Changes in Griffon’s warranty liability, included in Accrued liabilities, were as follows: Three Months Ended March 31, Six Months Ended March 31, 2019 2018 2019 2018 Balance, beginning of period $ 9,041 $ 6,055 $ 8,174 $ 6,236 Warranties issued and changes in estimated pre-existing warranties 4,700 1,637 8,761 3,112 Actual warranty costs incurred (5,730 ) (1,434 ) (8,924 ) (3,926 ) Other warranty liabilities assumed from acquisitions — — — 836 Balance, end of period $ 8,011 $ 6,258 $ 8,011 $ 6,258

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Mar. 31, 2019
OCI, Net of Tax [Abstract]
OTHER COMPREHENSIVE INCOME (LOSS)	OTHER COMPREHENSIVE INCOME (LOSS) The amounts recognized in other comprehensive income (loss) were as follows: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ 2,885 $ — $ 2,885 $ 19,714 $ — $ 19,714 Pension and other defined benefit plans 201 (17 ) 184 376 (129 ) 247 Cash flow hedges (264 ) 75 (189 ) 616 (176 ) 440 Total other comprehensive income (loss) $ 2,822 $ 58 $ 2,880 $ 20,706 $ (305 ) $ 20,401 Six Months Ended March 31, 2019 Six Months Ended March 31, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ (2,851 ) $ — $ (2,851 ) $ 18,425 $ — $ 18,425 Pension and other defined benefit plans 472 (104 ) 368 14,620 (4,814 ) 9,806 Cash flow hedges (107 ) 20 (87 ) 746 (218 ) 528 Total other comprehensive income (loss) $ (2,486 ) $ (84 ) $ (2,570 ) $ 33,791 $ (5,032 ) $ 28,759 The components of Accumulated other comprehensive income (loss) are as follows: March 31, 2019 September 30, 2018 Foreign currency translation adjustments $ (25,675 ) $ (22,824 ) Pension and other defined benefit plans (11,391 ) (11,759 ) Change in Cash flow hedges 384 471 $ (36,682 ) $ (34,112 ) Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows: For the Three Months Ended March 31, For the Six Months Ended March 31, Gain (Loss) 2019 2018 2019 2018 Pension amortization $ (225 ) $ (350 ) $ (451 ) $ (700 ) Cash flow hedges 310 (34 ) 992 (40 ) Removal of PPC foreign currency translation — 14,866 — 14,866 Total gain (loss) 85 14,482 541 14,126 Tax benefit (expense) (18 ) (3,357 ) (114 ) (3,400 ) Total $ 67 $ 11,125 $ 427 $ 10,726

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal and environmental Department of Environmental Conservation of New York State (“DEC”), with ISC Properties, Inc. Lightron Corporation (“Lightron”), a wholly-owned subsidiary of Griffon, once conducted operations at a location in Peekskill in the Town of Cortlandt, New York (the “Peekskill Site”) owned by ISC Properties, Inc. (“ISC”), a wholly-owned subsidiary of Griffon. ISC sold the Peekskill Site in November 1982. Subsequently, ISC was advised by the DEC that random sampling at the Peekskill Site and in a creek near the Peekskill Site indicated concentrations of solvents and other chemicals common to Lightron’s prior plating operations. ISC then entered into a consent order with the DEC in 1996 (the “Consent Order”) to perform a remedial investigation and prepare a feasibility study. After completing the initial remedial investigation pursuant to the Consent Order, ISC was required by the DEC, and did accordingly conduct over the next several years, supplemental remedial investigations, including soil vapor investigations, under the Consent Order. In April 2009, the DEC advised ISC’s representatives that both the DEC and the New York State Department of Health had reviewed and accepted an August 2007 Remedial Investigation Report and an Additional Data Collection Summary Report dated January 30, 2009. With the acceptance of these reports, ISC completed the remedial investigation required under the Consent Order and was authorized, accordingly, by the DEC to conduct the Feasibility Study required by the Consent Order. Pursuant to the requirements of the Consent Order and its obligations thereunder, ISC, without acknowledging any responsibility to perform any remediation at the Site, submitted to the DEC in August 2009, a draft feasibility study which recommended for the soil, groundwater and sediment media, remediation alternatives having a current net capital cost value, in the aggregate, of approximately $5,000 . In February 2011, DEC advised ISC it has accepted and approved the feasibility study. Accordingly, ISC has no further obligations under the consent order. Upon acceptance of the feasibility study, DEC issued a Proposed Remedial Action Plan (“PRAP”) that sets forth the proposed remedy for the site. The PRAP accepted the recommendation contained in the feasibility study for remediation of the soil and groundwater media, but selected a different remediation alternative for the sediment medium. After receiving public comments on the PRAP, the DEC issued a Record of Decision (“ROD”) in June 2011 that set forth the specific remedies selected and responded to public comments. The remedies selected by the DEC in the ROD are the same remedies as those set forth in the PRAP. At the time of adoption of the ROD, the approximate cost of the remedy proposed by DEC in the PRAP was approximately $10,000 . In 2018, the DEC sent a letter to the United States Environmental Protection Agency (the “EPA”), in which the DEC requested that the Peekskill Site be nominated by the EPA for inclusion on the National Priorities List (the “NPL”). In this letter, the DEC also indicated that it conducted subsequent investigative work that resulted in findings suggesting that the extent of contamination is greater than what was assumed at the time the ROD was issued. Based on the DEC’s request and on an analysis by a consultant retained by the EPA, the EPA then published a notice in the Federal Register proposing to add the Peekskill Site to the NPL under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Should the Peekskill Site be added to the NPL, it is uncertain what subsequent action the EPA will take. The EPA may, on its own or through the use of consultants, perform further studies of the site and/or subsequently remediate the site, and in such event would likely seek reimbursement for the costs incurred from potentially responsible parties (“PRPs”). Alternatively, the EPA could enter into negotiations with the PRPs to request that the PRPs perform further studies and/or remediate the site. Griffon does not acknowledge any responsibility to perform any remediation at the Peekskill Site. Improper Advertisement Claim involving Union Tools ® Products. Beginning in December 2004, a customer of AMES had been named in various litigation matters relating to certain Union Tools products. The plaintiffs in those litigation matters asserted causes of action against the customer of AMES for improper advertisement to end consumers. The allegations suggested that advertisements led the consumers to believe that Union Tools’ hand tools were wholly manufactured within boundaries of the United States. The complaints asserted various causes of action against the customer of AMES under federal and state law, including common law fraud. At some point, the customer may seek indemnity (including recovery of its legal fees and costs) against AMES for an unspecified amount. Presently, AMES cannot estimate the amount of loss, if any, if the customer were to seek legal recourse against AMES. Union Fork and Hoe, Frankfort, NY site. The former Union Fork and Hoe property in Frankfort, NY was acquired by Ames in 2006 as part of a larger acquisition, and has historic site contamination involving chlorinated solvents, petroleum hydrocarbons and metals. AMES has entered into an Order on Consent with the New York State Department of Environmental Conservation. While the Order is without admission or finding of liability or acknowledgment that there has been a release of hazardous substances at the site, AMES is required to perform a remedial investigation of certain portions of the property and to recommend a remediation option. At the conclusion of the remediation phase to the satisfaction of the DEC, the DEC will issue a Certificate of Completion. AMES has performed significant investigative and remedial activities in the last few years under work plans approved by the DEC, and the DEC has approved the final remedial investigation and feasibility study reports. AMES’ recommended remedial option of excavation and offsite disposal of lead contaminated soils, capping of other areas of the site impacted by other metals and performing limited groundwater monitoring was accepted by the DEC in a Record of Decision issued March 1, 2018. The DEC recently approved a final design and implementation work plan. Implementation of the selected remedial alternative is expected to begin in mid-2019. AMES has a number of defenses to liability in this matter, including its rights under a previous Consent Judgment entered into between the DEC and a predecessor of AMES relating to the site. U.S. Government investigations and claims Defense contracts and subcontracts, including Griffon’s contracts and subcontracts, are subject to audit and review by various agencies and instrumentalities of the United States government, including among others, the Defense Contract Audit Agency, the Defense Criminal Investigative Service, and the Department of Justice which has responsibility for asserting claims on behalf of the U.S. Government. In general, departments and agencies of the U.S. Government have the authority to investigate various transactions and operations of Griffon, and the results of such investigations may lead to administrative, civil or criminal proceedings, the ultimate outcome of which could be fines, penalties, repayments or compensatory or treble damages. U.S. Government regulations provide that certain findings against a contractor may lead to suspension or debarment from future U.S. Government contracts or the loss of export privileges for a company or an operating division or subdivision. Suspension or debarment could have a material adverse effect on Telephonics because of its reliance on government contracts. General legal

CONSOLIDATING GUARANTOR AND NON

CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION	6 Months Ended
	Mar. 31, 2019
Consolidating Guarantor And Non Guarantor Financial Information [Abstract]
CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION	CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION Griffon’s Senior Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by the domestic assets of Clopay Building Products Company, Inc., Telephonics Corporation, The AMES Companies, Inc., ATT Southern LLC, Clopay Ames True Temper Holding Corp., ClosetMaid, LLC, CornellCookson, LLC and Cornell Real Estate Holdings, LLC, all of which are indirectly 100% owned by Griffon. In accordance with Rule 3-10 of Regulation S-X promulgated under the Securities Act, presented below are condensed consolidating financial information as of March 31, 2019 and September 30, 2018 and for the three months ended March 31, 2019 and 2018 . The financial information may not necessarily be indicative of the results of operations or financial position of the guarantor companies or non-guarantor companies had they operated as independent entities. The guarantor companies and the non-guarantor companies include the consolidated financial results of their wholly-owned subsidiaries accounted for under the equity method. The indenture relating to the Senior Notes (the “Indenture”) contains terms providing that, under certain limited circumstances, a guarantor will be released from its obligations to guarantee the Senior Notes. These circumstances include (i) a sale of at least a majority of the stock, or all or substantially all the assets, of the subsidiary guarantor as permitted by the Indenture; (ii) a public equity offering of a subsidiary guarantor that qualifies as a “Minority Business” as defined in the Indenture (generally, a business the EBITDA of which constitutes less than 50% At March 31, 2019 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation CURRENT ASSETS Cash and equivalents $ 5,067 $ 31,858 $ 21,054 $ — $ 57,979 Accounts receivable, net of allowances — 288,362 55,687 — 344,049 Contract costs and recognized income not yet billed, net of progress payments — 82,811 1,093 — 83,904 Inventories, net — 389,223 67,835 13 457,071 Prepaid and other current assets 17,735 19,910 5,761 2,372 45,778 Assets of discontinued operations — — 324 — 324 Total Current Assets 22,802 812,164 151,754 2,385 989,105 PROPERTY, PLANT AND EQUIPMENT, net 1,005 291,449 40,398 — 332,852 GOODWILL — 394,056 45,062 — 439,118 INTANGIBLE ASSETS, net 93 278,055 86,592 — 364,740 INTERCOMPANY RECEIVABLE 122,555 679,010 66,931 (868,496 ) — EQUITY INVESTMENTS IN SUBSIDIARIES 1,552,035 512,201 3,045,503 (5,109,739 ) — OTHER ASSETS 7,180 16,774 (2,079 ) (6,683 ) 15,192 ASSETS OF DISCONTINUED OPERATIONS — — 2,901 — 2,901 Total Assets $ 1,705,670 $ 2,983,709 $ 3,437,062 $ (5,982,533 ) $ 2,143,908 CURRENT LIABILITIES Notes payable and current portion of long-term debt $ — $ 3,495 $ 7,312 $ — $ 10,807 Accounts payable and accrued liabilities 17,409 292,428 31,439 2,444 343,720 Liabilities of discontinued operations — — 11,657 — 11,657 Total Current Liabilities 17,409 295,923 50,408 2,444 366,184 LONG-TERM DEBT, net 1,146,231 4,378 55,586 — 1,206,195 INTERCOMPANY PAYABLES 56,415 381,703 421,184 (859,302 ) — OTHER LIABILITIES 11,331 69,856 17,401 (3,650 ) 94,938 LIABILITIES OF DISCONTINUED OPERATIONS — — 2,307 — 2,307 Total Liabilities 1,231,386 751,860 546,886 (860,508 ) 1,669,624 SHAREHOLDERS’ EQUITY 474,284 2,231,849 2,890,176 (5,122,025 ) 474,284 Total Liabilities and Shareholders’ Equity $ 1,705,670 $ 2,983,709 $ 3,437,062 $ (5,982,533 ) $ 2,143,908 At September 30, 2018 ($ in thousands) Parent Guarantor Non-Guarantor Elimination Consolidation CURRENT ASSETS Cash and equivalents $ 15,976 $ 16,353 $ 37,429 $ — $ 69,758 Accounts receivable, net of allowances — 234,885 69,729 (24,105 ) 280,509 Contract costs and recognized income not yet billed, net of progress payments — 121,393 410 — 121,803 Inventories, net — 332,067 66,373 (81 ) 398,359 Prepaid and other current assets 12,179 21,313 6,168 2,461 42,121 Assets of discontinued operations — — 324 — 324 Total Current Assets 28,155 726,011 180,433 (21,725 ) 912,874 PROPERTY, PLANT AND EQUIPMENT, net 936 299,920 41,636 — 342,492 GOODWILL 6,646 361,507 71,242 — 439,395 INTANGIBLE ASSETS, net 93 293,093 77,672 — 370,858 INTERCOMPANY RECEIVABLE 56,396 314,394 (121,445 ) (249,345 ) — EQUITY INVESTMENTS IN SUBSIDIARIES 1,528,932 968,330 3,347,894 (5,845,156 ) — OTHER ASSETS 8,651 15,942 374 (8,612 ) 16,355 ASSETS OF DISCONTINUED OPERATIONS — — 2,916 — 2,916 Total Assets $ 1,629,809 $ 2,979,197 $ 3,600,722 $ (6,124,838 ) $ 2,084,890 CURRENT LIABILITIES Notes payable and current portion of long-term debt $ 2,276 $ 3,398 $ 7,337 $ — $ 13,011 Accounts payable and accrued liabilities 26,639 303,154 59,531 (16,474 ) 372,850 Liabilities of discontinued operations — (22,327 ) 29,537 — 7,210 Total Current Liabilities 28,915 284,225 96,405 (16,474 ) 393,071 LONG-TERM DEBT, net 1,044,071 6,110 57,890 — 1,108,071 INTERCOMPANY PAYABLES 66,058 (77,760 ) 263,227 (251,525 ) — OTHER LIABILITIES 16,374 73,391 20,592 (3,647 ) 106,710 LIABILITIES OF DISCONTINUED OPERATIONS — — 2,647 — 2,647 Total Liabilities 1,155,418 285,966 440,761 (271,646 ) 1,610,499 SHAREHOLDERS’ EQUITY 474,391 2,693,231 3,159,961 (5,853,192 ) 474,391 Total Liabilities and Shareholders’ Equity $ 1,629,809 $ 2,979,197 $ 3,600,722 $ (6,124,838 ) $ 2,084,890 For the Three Months Ended March 31, 2019 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation Revenue $ — $ 462,739 $ 94,285 $ (7,391 ) $ 549,633 Cost of goods and services — 354,382 65,516 (7,769 ) 412,129 Gross profit — 108,357 28,769 378 137,504 Selling, general and administrative expenses 5,249 84,813 21,409 312 111,783 Income (loss) from operations (5,249 ) 23,544 7,360 66 25,721 Other income (expense) Interest income (expense), net (7,328 ) (9,128 ) (849 ) — (17,305 ) Other, net (473 ) 1,129 676 (64 ) 1,268 Total other income (expense) (7,801 ) (7,999 ) (173 ) (64 ) (16,037 ) Income (loss) before taxes (13,050 ) 15,545 7,187 2 9,684 Provision (benefit) for income taxes (4,242 ) 5,292 2,142 2 3,194 Income (loss) before equity in net income of subsidiaries (8,808 ) 10,253 5,045 — 6,490 Equity in net income (loss) of subsidiaries 7,652 11,646 10,253 (29,551 ) — Income from continuing operations $ (1,156 ) $ 21,899 $ 15,298 $ (29,551 ) $ 6,490 Income from operations of discontinued businesses — — (11,000 ) — (11,000 ) Provision from income taxes — — (3,354 ) — (3,354 ) Income from discontinued operations — — (7,646 ) — (7,646 ) Net Income (loss) $ (1,156 ) $ 21,899 $ 7,652 $ (29,551 ) $ (1,156 ) Comprehensive income (loss) $ 1,724 $ 5,448 $ 8,736 $ (14,184 ) $ 1,724 For the Three Months Ended March 31, 2018 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation Revenue $ — $ 397,759 $ 89,910 $ (9,109 ) $ 478,560 Cost of goods and services — 305,919 60,627 (9,365 ) 357,181 Gross profit — 91,840 29,283 256 121,379 Selling, general and administrative expenses 5,438 65,871 33,277 (93 ) 104,493 Income (loss) from operations (5,438 ) 25,969 (3,994 ) 349 16,886 Other income (expense) Interest income (expense), net (5,961 ) (8,013 ) (2,070 ) — (16,044 ) Other, net 697 12,149 (10,038 ) (462 ) 2,346 Total other income (expense) (5,264 ) 4,136 (12,108 ) (462 ) (13,698 ) Income (loss) before taxes (10,702 ) 30,105 (16,102 ) (113 ) 3,188 Provision (benefit) for income taxes (10,168 ) (10,037 ) (6,202 ) 27,644 1,237 Income (loss) before equity in net income of subsidiaries (534 ) 40,142 (9,900 ) (27,757 ) 1,951 Equity in net income (loss) of subsidiaries 90,814 (59,707 ) 40,140 (71,247 ) — Income (loss) from continuing operations 90,280 (19,565 ) 30,240 (99,004 ) 1,951 Income from operation of discontinued businesses — (8,423 ) 121,799 — 113,376 Provision (benefit) from income taxes — 859 24,188 — 25,047 Income (loss) from discontinued operations — (9,282 ) 97,611 — 88,329 Net Income (loss) $ 90,280 $ (28,847 ) $ 127,851 $ (99,004 ) $ 90,280 Comprehensive income (loss) $ 110,681 $ 1,444 $ 123,670 $ (125,114 ) $ 110,681 For the Six Months Ended March 31, 2019 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 7,597 $ 38,703 $ 24,499 $ (63,202 ) $ 7,597 Net (income) loss from discontinued operations — — 7,646 — 7,646 Net cash provided by (used in) operating activities: (77,881 ) 24,130 (1,255 ) — (55,006 ) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant and equipment (210 ) (14,071 ) (3,137 ) — (17,418 ) Acquired businesses, net of cash acquired (9,219 ) — — — (9,219 ) Investment purchases (149 ) — — — (149 ) Insurance proceeds (payments) (10,604 ) — — — (10,604 ) Proceeds from sale of assets — 36 26 — 62 Net cash provided by investing activities (20,182 ) (14,035 ) (3,111 ) — (37,328 ) CASH FLOWS FROM FINANCING ACTIVITIES: Purchase of shares for treasury (1,478 ) — — — (1,478 ) Proceeds from long-term debt 130,484 76 12,541 — 143,101 Payments of long-term debt (32,419 ) (1,724 ) (14,026 ) — (48,169 ) Financing costs (945 ) — — — (945 ) Contingent consideration for acquired businesses — — (1,686 ) — (1,686 ) Dividends paid (6,847 ) — — — (6,847 ) Other, net (1,641 ) 7,150 (5,426 ) — 83 Net cash provided by (used in) financing activities 87,154 5,502 (8,597 ) — 84,059 CASH FLOWS FROM DISCONTINUED OPERATIONS: Net cash used in discontinued operations — — (3,438 ) — (3,438 ) Effect of exchange rate changes on cash and equivalents — (92 ) 26 — (66 ) NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS (10,909 ) 15,505 (16,375 ) — (11,779 ) CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 15,976 16,353 37,429 — 69,758 CASH AND EQUIVALENTS AT END OF PERIOD $ 5,067 $ 31,858 $ 21,054 $ — $ 57,979 For the Six Months Ended March 31, 2018 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 121,269 $ (19,529 ) $ 142,905 $ (123,376 ) $ 121,269 Net (income) loss from discontinued operations — 4,921 (101,408 ) — (96,487 ) Net cash provided by (used in) operating activities: 275,619 (360,855 ) 38,136 — (47,100 ) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant and equipment (331 ) (16,208 ) (5,089 ) — (21,628 ) Acquired businesses, net of cash acquired (185,729 ) (5,076 ) (55,425 ) — (246,230 ) Proceeds from sale of business — 473,977 — — 473,977 Insurance proceeds (payments) 8,254 — — — 8,254 Proceeds from sale of assets — 21 433 — 454 Net cash provided by (used in) investing activities (177,806 ) 452,714 (60,081 ) — 214,827 CASH FLOWS FROM FINANCING ACTIVITIES: Purchase of shares for treasury (32,861 ) — — — (32,861 ) Proceeds from long-term debt 342,161 2,195 3,542 — 347,898 Payments of long-term debt (197,322 ) (1,613 ) (31,006 ) — (229,941 ) Financing costs (7,451 ) — — — (7,451 ) Dividends paid (5,872 ) — — — (5,872 ) Other, net (22,279 ) (40,668 ) 63,073 — 126 Net cash provided by (used in) financing activities 76,376 (40,086 ) 35,609 — 71,899 CASH FLOWS FROM DISCONTINUED OPERATIONS: Net cash used in discontinued operations — (36,875 ) (11,508 ) — (48,383 ) Effect of exchange rate changes on cash and equivalents — (27 ) (2,441 ) — (2,468 ) NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS 174,189 14,871 (285 ) — 188,775 CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 3,240 8,066 36,375 — 47,681 CASH AND EQUIVALENTS AT END OF PERIOD $ 177,429 $ 22,937 $ 36,090 $ — $ 236,456

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Mar. 31, 2019
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 year ended September 30, 2018 , 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 HBP operations 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, 2018 was derived from the audited financial statements included in Griffon’s Annual Report on Form 10-K for the year ended September 30, 2018 . 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 US GAAP 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 allowances for doubtful accounts receivable and returns, net realizable value of inventories, restructuring reserves, valuation of goodwill and intangible assets, percentage of completion method of accounting, pension assumptions, useful lives associated with depreciation and amortization of fixed and intangible assets, warranty reserves, sales incentive accruals, stock based compensation assumptions, income taxes and tax valuation reserves, environmental reserves, legal reserves, insurance reserves and the valuation of assets and liabilities of discontinued operations, acquisition assumptions used 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	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. •
Inventories	Inventories are stated at the lower of cost (first-in, first-out or average) or market.
New Accounting Pronouncements	In May 2017, the FASB issued guidance to address the situation when a company modifies the terms of a stock compensation award previously granted to an employee. This guidance is effective, and should be applied prospectively, for fiscal years beginning after December 15, 2017. Early adoption is permitted as of the beginning of an annual period. The new guidance is effective for the Company beginning in fiscal 2019. The Company adopted this guidance as of October 1, 2018 and it did not have a material impact on the Company's financial condition, results of operations and related disclosures. In March 2017, the FASB issued amendments to the Compensation - Retirement Benefits guidance which requires companies to retrospectively present the service cost component of net periodic benefit cost for pension and retiree medical plans along with other compensation costs in operating income and present the other components of net periodic benefit cost below operating income in the income statement. The guidance also allows only the service cost component of net periodic benefit cost to be eligible for capitalization within inventory or fixed assets on a prospective basis. This guidance was effective for fiscal years beginning after December 15, 2017. The Company adopted the requirements of the standard in the first quarter of 2019 on a retrospective basis reclassifying the other components of the net periodic benefit costs from Selling, general and administrative expenses to a non-service expense within Other (income) expense, net. This guidance did not have a material impact on the Company's results of operations. See Note 13 - Employee Benefit Plans for further information on the implementation of this guidance. In January 2017, the FASB issued guidance that clarifies the definition of a business, which will impact many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The new standard is intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance is effective for annual periods beginning after December 15, 2017, including interim periods within those periods and will be effective for the Company beginning in fiscal 2019. The Company adopted the requirements of the standard in the first quarter of 2019 and it did not have a material impact on the Company's financial condition, results of operations and related disclosures. In August 2016, the FASB issued guidance on the Statement of Cash Flows Classification of certain cash receipts and cash payments (a consensus of the FASB Emerging Issues Task Force). This guidance addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This guidance will be effective for the Company beginning in fiscal 2019. The Company adopted the requirements of the standard in the first quarter of 2019 and it did not have a material impact on the Company's financial condition, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) which supersedes nearly all existing revenue recognition guidance. Subsequent to the issuance of Topic 606, the FASB clarified the guidance through several ASUs; hereinafter the collection of revenue guidance is referred to as “ASC 606”. The core principle of ASC 606 is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. On October 1, 2018, the Company adopted ASC 606 using the modified retrospective method for all contracts. Results for reporting periods beginning October 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in accordance with the Company’s historic accounting under Topic 605, Revenue Recognition. The Company recorded a net increase to beginning retained earnings of approximately $5,673 as of October 1, 2018 due to the cumulative impact of adopting ASC 606. The impact to beginning retained earnings primarily related to certain contracts in the Defense Electronics Segment containing provisions for radar and communication products that have an alternative use and/or no right to payment. The adoption of ASC 606 did not have a material impact on the Company’s Consolidated Condensed Financial Statements as of and for the three month period ended December 31, 2018. See Note 3 - Revenue for additional disclosures required by ASC 606. Issued but not yet effective accounting pronouncements In February 2018, the FASB issued guidance that allows companies to reclassify stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act (the Tax Act), from accumulated other comprehensive income to retained earnings. This guidance is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. The new standard is effective for the Company beginning in 2020, with early adoption permitted. We are currently evaluating the effects that the adoption of this guidance will have on our consolidated financial statements and the related disclosures. In August 2018, the FASB issued guidance which modifies the disclosures on fair value measurements by removing the requirement to disclose the amount and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and the policy for timing of such transfers. This guidance expands the disclosure requirements for Level 3 fair value measurements, primarily focused on changes in unrealized gains and losses included in other comprehensive income (loss). This guidance is effective for fiscal years beginning after December 15, 2019, with early adoption permitted, and will be effective for the Company beginning in 2021. We are currently evaluating the effects that the adoption of this guidance will have on our consolidated financial statements and the related disclosures. In August 2018, the FASB issued guidance to clarify disclosure requirements related to defined benefit pension and other post-retirement plans. The guidance is effective for fiscal years beginning after December 15, 2020, with early adoption permitted, and will be effective for the Company beginning in 2022. We are currently evaluating the effects that the adoption of this guidance will have on our consolidated financial statements and the related disclosures. In January 2017, the FASB issued guidance that simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. This guidance is effective for annual periods beginning after December 15, 2019, including interim periods within those periods and will be effective for the Company beginning October 1, 2020. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We do not expect this guidance to have a material impact on the Company's financial condition, results of operations and related disclosures. In February 2016, the FASB issued guidance on lease accounting requiring lessees to recognize a right-of-use asset and a lease liability for long-term leases. The liability will be equal to the present value of lease payments. This guidance must be applied using a modified retrospective transition approach to all annual and interim periods presented and is effective for the Company beginning in 2020. We are currently evaluating the impact of the guidance on the Company's financial condition, results of operations and related disclosures.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Cumulative Effect For Adoption of New Accounting Pronouncement	The cumulative effect of the changes made to the Company's Consolidated October 1, 2018 Balance Sheet for the adoption of ASC 606 is as follows: Balance Sheet As Reported at September 30, 2018 Adjustments Balance as of October 1, 2018 CURRENT ASSETS Contract costs and recognized income not yet billed, net of progress payments $ 121,803 $ (20,982 ) $ 100,821 Inventories 398,359 22,025 420,384 Total Current Assets 912,874 1,043 913,917 Total Assets 2,084,890 1,043 2,085,933 CURRENT LIABILITIES Accounts payable 233,658 8,282 241,940 Billings in excess of costs (1) 17,559 8,282 25,841 Total Current Liabilities 393,071 8,282 401,353 OTHER LIABILITIES 106,710 (1,566 ) 105,144 Total Liabilities 1,610,499 6,716 1,617,215 SHAREHOLDERS' EQUITY Retained Earnings 550,523 (5,673 ) 544,850 Total Shareholders' Equity 474,391 (5,673 ) 468,718 Total Liabilities and Shareholders’ Equity $ 2,084,890 $ 1,043 $ 2,085,933 (1) Billings in excess of costs is reported in Accounts payable on the Company's Consolidated Balance Sheets. The impact to the Company's Consolidated Statement of Operations for the three and six months ended March 31, 2019 and to the Company's Balance Sheet as of March 31, 2019 was as follows: For the Three Months Ended March 31, 2019 Income Statement As Reported Balances Without Adoption of ASC 606 Effect of Adoption Higher/(Lower) Net sales $ 549,633 $ 548,053 $ 1,580 Cost of goods and services 412,129 410,898 1,231 Income (loss) before taxes from continuing operations 9,684 9,335 349 Provision (benefit) from income taxes 3,194 3,118 76 Income from continuing operations 6,490 6,217 273 For the Six Months Ended March 31, 2019 Income Statement As Reported Balances Without Adoption of ASC 606 Effect of Adoption Higher/(Lower) Net sales $ 1,060,155 $ 1,053,969 $ 6,186 Cost of goods and services 779,605 775,109 4,496 Income before taxes from continuing operations 23,649 21,960 1,689 Provision (benefit) from income taxes 8,406 8,038 368 Income from continuing operations 15,243 13,922 1,321 As of March 31, 2019 Balance Sheet As Reported Balances Without Adoption of ASC 606 Effect of Adoption Higher/(Lower) CURRENT ASSETS Contract costs and recognized income not yet billed, net of progress payments $ 83,904 $ 98,700 $ (14,796 ) Inventories 457,071 439,543 17,528 Total Current Assets 989,105 986,373 2,732 Total Assets 2,143,908 2,141,176 2,732 CURRENT LIABILITIES Accounts payable 223,188 214,906 8,282 Billings in excess of costs 28,227 19,945 8,282 Total Current Liabilities 366,184 357,902 8,282 OTHER LIABILITIES 94,938 96,136 (1,198 ) Total Liabilities 1,669,624 1,662,540 7,084 SHAREHOLDERS' EQUITY Retained Earnings 545,600 549,952 (4,352 ) Total Shareholders' Equity 474,284 478,636 (4,352 ) Total Liabilities and Shareholders’ Equity $ 2,143,908 $ 2,141,176 $ 2,732

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The calculation of the final purchase price allocation is as follows: Accounts receivable (1) $ 32,234 Inventories (2), (3) 28,411 Property, plant and equipment 47,464 Goodwill 70,159 Intangible assets 74,580 Other current and non-current assets 3,852 Total assets acquired 256,700 Accounts payable and accrued liabilities 68,251 Long-term liabilities 2,720 Total liabilities assumed 70,971 Total $ 185,729 (1) Includes $32,956 of gross accounts receivable of which $722 was not expected to be collected. The fair value of accounts receivable approximated book value acquired. (2) Includes $29,079 of gross inventory of which $668 was reserved for obsolete inventory. The fair value of inventory approximated book value acquired. (3) Includes $1,500 Accounts receivable (1) $ 30,400 Inventories (2) 12,336 Property, plant and equipment 49,426 Goodwill 43,183 Intangible assets 67,600 Other current and non-current assets 2,648 Total assets acquired 205,593 Accounts payable and accrued liabilities 12,507 Long-term liabilities 660 Total liabilities assumed 13,167 Total $ 192,426 (1) Includes $30,818 of gross accounts receivable of which $418 was not expected to be collected. The fair value of accounts receivable approximated book value acquired. (2) Includes $13,434 of gross inventory of which $1,098
Schedule of Goodwill And Intangible Assets Acquired as Part of Business Combination	The amounts assigned to goodwill and major intangible asset classifications, all of which are tax deductible, for the ClosetMaid acquisition are as follows: Average Goodwill $ 70,159 N/A Indefinite-lived intangibles 47,740 N/A Definite-lived intangibles 26,840 21 Total goodwill and intangible assets $ 144,739 Average Goodwill $ 43,183 N/A Indefinite-lived intangibles 53,500 N/A Definite-lived intangibles 14,100 12 Total goodwill and intangible assets $ 110,783

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	The following table details the components of inventory: At March 31, 2019 At September 30, 2018 Raw materials and supplies $ 104,767 $ 97,645 Work in process 112,264 83,578 Finished goods 240,040 217,136 Total $ 457,071 $ 398,359

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	The following table details the components of property, plant and equipment, net: At March 31, 2019 At September 30, 2018 Land, building and building improvements $ 132,334 $ 130,296 Machinery and equipment 557,351 544,875 Leasehold improvements 49,983 50,111 739,668 725,282 Accumulated depreciation and amortization (406,816 ) (382,790 ) Total $ 332,852 $ 342,492

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	6 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table provides changes in the carrying value of goodwill by segment during the six months ended March 31, 2019 : At September 30, 2018 Goodwill from acquisitions Other At March 31, 2019 Home & Building Products $ 420,850 $ 300 $ (577 ) $ 420,573 Telephonics 18,545 — — 18,545 Total $ 439,395 $ 300 $ (577 ) $ 439,118
Schedule Of Identifiable Intangible Assets	The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets: At March 31, 2019 At September 30, 2018 Gross Carrying Amount Accumulated Amortization Average Life (Years) Gross Carrying Amount Accumulated Amortization Customer relationships & other $ 184,582 $ 53,771 23 $ 186,031 $ 49,822 Technology and patents 19,321 6,789 13 19,004 6,238 Total amortizable intangible assets 203,903 60,560 205,035 56,060 Trademarks 221,397 — 221,883 — Total intangible assets $ 425,300 $ 60,560 $ 426,918 $ 56,060

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	At March 31, 2019 At September 30, 2018 Outstanding Balance Original Issuer Premium Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Outstanding Balance Original Issuer Premium Capitalized Fees & Expenses Balance Sheet Coupon Interest Rate Senior notes due 2022 (a) $ 1,000,000 $ 1,043 $ (11,066 ) $ 989,977 5.25 % $ 1,000,000 $ 1,220 $ (12,968 ) $ 988,252 5.25 % Revolver due 2021 (b) 157,936 — (1,682 ) 156,254 Variable 25,000 — (1,413 ) 23,587 Variable ESOP Loans (d) — — — — Variable 34,694 — (186 ) 34,508 Variable Capital lease - real estate (e) 5,971 — (68 ) 5,903 5.00 % 7,503 — (80 ) 7,423 5.00 % Non US lines of credit (f) 17,423 — (8 ) 17,415 Variable 7,951 — (16 ) 7,935 Variable Non US term loans (f) 42,014 — (182 ) 41,832 Variable 53,533 — (148 ) 53,385 Variable Other long term debt (g) 5,640 — (19 ) 5,621 Variable 6,011 — (19 ) 5,992 Variable Totals 1,228,984 1,043 (13,025 ) 1,217,002 1,134,692 1,220 (14,830 ) 1,121,082 less: Current portion (10,807 ) — — (10,807 ) (13,011 ) — — (13,011 ) Long-term debt $ 1,218,177 $ 1,043 $ (13,025 ) $ 1,206,195 $ 1,121,681 $ 1,220 $ (14,830 ) $ 1,108,071 On October 2, 2017, in an unregistered offering through a private placement under Rule 144A, Griffon completed the add-on offering of $275,000 principal amount of its 5.25% senior notes due 2022, at 101.00% of par, to Griffon's previously issued $125,000 principal amount of its 5.25% senior notes due 2022, at 98.76% of par, completed on May 18, 2016 and $600,000 5.25% senior notes due 2022, at par, completed on February 27, 2014 (collectively the “Senior Notes”). As of March 31, 2019 , outstanding Senior Notes due totaled $1,000,000 ; interest is payable semi-annually on March 1 and September 1. The net proceeds of the $275,000 add-on offering were used to acquire ClosetMaid with the remaining proceeds used to pay down outstanding loan borrowings under Griffon's Revolving Credit Facility (the "Credit Agreement"). The net proceeds of the previously issued $125,000 add-on offering were used to pay down outstanding revolving loan borrowings under the Credit Agreement. The Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. On February 5, 2018, July 20, 2016 and June 18, 2014, Griffon exchanged all of the $275,000 , $125,000 and $600,000 Senior Notes, respectively, for substantially identical Senior Notes registered under the Securities Act via an exchange offer. The fair value of the Senior Notes approximated $985,770 on March 31, 2019 based upon quoted market prices (level 1 inputs). In connection with the issuance and exchange of the $275,000 senior notes, Griffon capitalized $8,472 of underwriting fees and other expenses; this is in addition to the $13,329 capitalized under previously issued $600,000 Senior Notes. All capitalized fees for the Senior Notes will amortize over the term of the notes and, at March 31, 2019 , $11,066 remained to be amortized. (b) On March 22, 2016, Griffon amended the Credit Agreement to increase the commitments under the credit facility from $250,000 to $350,000 , extend its maturity date from March 13, 2020 to March 22, 2021 and modify certain other provisions of the facility. On October 2, 2017 and on May 31, 2018, Griffon amended the Credit Agreement in connection with the ClosetMaid and CornellCookson acquisitions, respectively to, among other things, modify the net leverage covenant. On February 22, 2019, Griffon further amended the Revolving Credit Facility to, among other things, reflect changes in the lending group and certain corresponding changes in various administrative roles under the Revolving Credit Facility, make conforming administrative and technical changes and reflect changes in law. The facility includes a letter of credit sub-facility with a limit of $50,000 and a multi-currency sub-facility of $100,000 . The Credit Agreement provides for same day borrowings of base rate loans. Borrowings under the Credit Agreement may be repaid and re-borrowed at any time, subject to final maturity of the facility or the occurrence of an event of default under the Credit Agreement. Interest is payable on borrowings at either a LIBOR or base rate benchmark rate, in each case without a floor, plus an applicable margin, which adjusts based on financial performance. Current margins are 1.75% for base rate loans and 2.75% for LIBOR loans. The Credit Agreement 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. 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. At March 31, 2019 , under the Credit Agreement, there were $157,936 outstanding borrowings; outstanding standby letters of credit were $16,081 ; and $175,983 was available, subject to certain loan covenants, for borrowing at that date. (c) In September 2015 and March 2016, Griffon entered into mortgage loans in the amounts of $32,280 and $8,000 , respectively, and were due to mature in September 2025 and April 2018, respectively. The mortgage loans were secured and collateralized by four properties occupied by Griffon's subsidiaries and were guaranteed by Griffon. The loans had an interest rate of LIBOR plus 1.50% . The loans were paid off during the year ended September 30, 2018. (d) In August 2016, Griffon’s ESOP entered into an agreement that refinanced the existing ESOP loan into a new Term Loan in the amount of $35,092 (the "Agreement"). The Agreement also provided for a Line Note with $10,908 available to purchase shares of Griffon common stock in the open market. During 2017, Griffon's ESOP purchased 621,875 shares of common stock for a total of $10,908 or $17.54 per share, under a borrowing line that has now been fully utilized. On June 30, 2017, the Term Loan and Line Note were combined into a single Term Loan. The Term Loan interest rate was LIBOR plus 2.91% . The Term Loan required quarterly principal payments of $569 and a balloon payment due at maturity. As a result of the special cash dividend of $1.00 per share, paid on April 16, 2018, the outstanding balance of the Term Loan was reduced by $5,705 . The Term Loan was secured by shares purchased with the proceeds of the loan and with a lien on a specific amount of Griffon assets (which ranked pari passu with the lien granted on such assets under the Credit Agreement) and was guaranteed by Griffon. On March 13, 2019, the ESOP Term Loan was refinanced with an internal loan from Griffon which was funded with cash and a draw on its $350,000 credit facility. The internal loan interest rate is fixed at 2.91% , matures in June 2033 and requires quarterly payments of principal, currently $569 , and interest. The internal loan is secured by shares purchased with the proceeds of the loan. The amount outstanding on the internal loan at March 31, 2019 was $33,556 . (e) Two Griffon subsidiaries have capital leases outstanding for real estate located in Troy, Ohio and Ocala, Florida. The leases mature in 2021 and 2022 , respectively, and bear interest at fixed rates of approximately 5.0% and 8.0% , respectively. The Troy, Ohio lease is secured by a mortgage on the real estate and is guaranteed by Griffon. The Ocala, Florida lease contains two five -year renewal options. At March 31, 2019 , $5,903 was outstanding, net of issuance costs. (f) In November 2012, Garant G.P. (“Garant”) entered into a CAD $15,000 ( $11,174 as of March 31, 2019 ) revolving credit facility. The facility accrues interest at LIBOR (USD) or the Bankers Acceptance Rate (CDN) plus 1.3% per annum ( 3.79% LIBOR USD and 3.14% Bankers Acceptance Rate CDN as of March 31, 2019 ). The revolving facility matures in October 2019. Garant is required to maintain a certain minimum equity. At March 31, 2019 , there were no borrowings under the revolving credit facility with CAD 15,000 ( $11,174 as of March 31, 2019 ) available for borrowing. In July 2016, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries ("Griffon Australia") entered into an AUD 30,000 term loan and an AUD 10,000 revolver. The term loan refinanced two existing term loans and the revolver replaced two existing lines. In December 2016, the amount available under the revolver was increased from AUD 10,000 to AUD 20,000 and, in March 2017 and September 2017, the term loan commitment was increased by AUD 5,000 and AUD 15,000 , respectively. In March 2019, the term loan commitment was reduced by AUD $10,000 with proceeds from a receivable purchase agreement in the amount of AUD 10,000 . The term loan requires quarterly principal payments of AUD 1,250 plus interest with a balloon payment of AUD 13,375 due upon maturity in March 2022, and accrues interest at Bank Bill Swap Bid Rate “BBSY” plus 1.90% per annum ( 3.62% at March 31, 2019 ). As of March 31, 2019 , the term loan had an outstanding balance of AUD 28,375 ( $20,104 as of March 31, 2019 ). The revolving facility and receivable purchase facility mature in March 2020, but are renewable upon mutual agreement with the lender. The revolving facility and receivable purchase facility accrue interest at BBSY plus 1.8% and 1.0% , respectively, per annum ( 3.55% and 2.75% , respectively, at March 31, 2019 ). At March 31, 2019, the revolver and receivable purchase facilities had outstanding balances of AUD 6,000 and AUD 10,000 , respectively ( $4,251 and $7,085 , respectively, as of March 31, 2019). The revolver, receivable purchase facility and the term loan are all secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level and is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. In July 2018, the AMES Companies UK Ltd and its subsidiaries ("AMES UK") entered into a GBP 14,000 term loan, GBP 4,000 mortgage loan and GBP 5,000 revolver. The term loan and mortgage loan require quarterly principal payments of GBP 350 and GBP 83 plus interest, respectively, and have balloon payments due upon maturity, July 2023, of GBP 7,000 and GBP 2,333 , respectively. The Term Loan and Mortgage Loans accrue interest at the GBP LIBOR Rate plus 2.25% and 1.8% , respectively ( 3.10% and 2.65% at March 31, 2019 , respectively). The revolving facility matures in July 2019, but is renewable upon mutual agreement with the lender, and accrues interest at the Bank of England Base Rate plus 1.5% ( 2.25% as of March 31, 2019 ). As of March 31, 2019, the revolver had an outstanding balance of GBP 4,639 ( $6,087 as March 31, 2019 ) while the term and mortgage loan balances amounted to GBP $16,698 ( $21,910 as of March 31, 2019). The revolver and the term loan are both secured by substantially all of the assets of AMES UK and its subsidiaries. AMES UK is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. An invoice discounting arrangement was canceled and replaced by the above loan facilities. (g) Other long-term debt consists primarily of a loan with the Pennsylvania Industrial Development Authority, with the balance consisting of capital leases. At March 31, 2019
Schedule of Interest Expense For Long Term Debt	Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Effective Interest Rate (1) Cash Interest Amort. Debt Amort. Debt Issuance Costs Total Interest Expense Effective Interest Rate (1) Cash Interest Amort. Debt Amort. Total Interest Expense Senior notes due 2022 (a) 5.7 % $ 13,125 $ 66 $ 951 $ 14,142 5.7 % $ 13,125 $ 68 $ 943 $ 14,136 Revolver due 2021 (b) Variable 1,631 — 400 2,031 Variable 922 — 140 1,062 Real estate mortgages (c) n/a — — — — n/a 166 — 303 469 ESOP Loans (d) 7.2 % 449 — 155 604 4.6 % 442 — 31 473 Capital lease - real estate (e) 5.6 % 101 — 6 107 5.5 % 327 — 7 334 Non US lines of credit (f) Variable 4 — 4 8 Variable 4 — — 4 Non US term loans (f) Variable 449 — 26 475 Variable 330 — 18 348 Other long term debt (g) Variable 147 — 3 150 Variable 114 — 1 115 Capitalized interest — — — — (135 ) — — (135 ) Totals $ 15,906 $ 66 $ 1,545 $ 17,517 $ 15,295 $ 68 $ 1,443 $ 16,806 On October 2, 2017, in an unregistered offering through a private placement under Rule 144A, Griffon completed the add-on offering of $275,000 principal amount of its 5.25% senior notes due 2022, at 101.00% of par, to Griffon's previously issued $125,000 principal amount of its 5.25% senior notes due 2022, at 98.76% of par, completed on May 18, 2016 and $600,000 5.25% senior notes due 2022, at par, completed on February 27, 2014 (collectively the “Senior Notes”). As of March 31, 2019 , outstanding Senior Notes due totaled $1,000,000 ; interest is payable semi-annually on March 1 and September 1. The net proceeds of the $275,000 add-on offering were used to acquire ClosetMaid with the remaining proceeds used to pay down outstanding loan borrowings under Griffon's Revolving Credit Facility (the "Credit Agreement"). The net proceeds of the previously issued $125,000 add-on offering were used to pay down outstanding revolving loan borrowings under the Credit Agreement. The Senior Notes are senior unsecured obligations of Griffon guaranteed by certain domestic subsidiaries, and subject to certain covenants, limitations and restrictions. On February 5, 2018, July 20, 2016 and June 18, 2014, Griffon exchanged all of the $275,000 , $125,000 and $600,000 Senior Notes, respectively, for substantially identical Senior Notes registered under the Securities Act via an exchange offer. The fair value of the Senior Notes approximated $985,770 on March 31, 2019 based upon quoted market prices (level 1 inputs). In connection with the issuance and exchange of the $275,000 senior notes, Griffon capitalized $8,472 of underwriting fees and other expenses; this is in addition to the $13,329 capitalized under previously issued $600,000 Senior Notes. All capitalized fees for the Senior Notes will amortize over the term of the notes and, at March 31, 2019 , $11,066 remained to be amortized. (b) On March 22, 2016, Griffon amended the Credit Agreement to increase the commitments under the credit facility from $250,000 to $350,000 , extend its maturity date from March 13, 2020 to March 22, 2021 and modify certain other provisions of the facility. On October 2, 2017 and on May 31, 2018, Griffon amended the Credit Agreement in connection with the ClosetMaid and CornellCookson acquisitions, respectively to, among other things, modify the net leverage covenant. On February 22, 2019, Griffon further amended the Revolving Credit Facility to, among other things, reflect changes in the lending group and certain corresponding changes in various administrative roles under the Revolving Credit Facility, make conforming administrative and technical changes and reflect changes in law. The facility includes a letter of credit sub-facility with a limit of $50,000 and a multi-currency sub-facility of $100,000 . The Credit Agreement provides for same day borrowings of base rate loans. Borrowings under the Credit Agreement may be repaid and re-borrowed at any time, subject to final maturity of the facility or the occurrence of an event of default under the Credit Agreement. Interest is payable on borrowings at either a LIBOR or base rate benchmark rate, in each case without a floor, plus an applicable margin, which adjusts based on financial performance. Current margins are 1.75% for base rate loans and 2.75% for LIBOR loans. The Credit Agreement 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. 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. At March 31, 2019 , under the Credit Agreement, there were $157,936 outstanding borrowings; outstanding standby letters of credit were $16,081 ; and $175,983 was available, subject to certain loan covenants, for borrowing at that date. (c) In September 2015 and March 2016, Griffon entered into mortgage loans in the amounts of $32,280 and $8,000 , respectively, and were due to mature in September 2025 and April 2018, respectively. The mortgage loans were secured and collateralized by four properties occupied by Griffon's subsidiaries and were guaranteed by Griffon. The loans had an interest rate of LIBOR plus 1.50% . The loans were paid off during the year ended September 30, 2018. (d) In August 2016, Griffon’s ESOP entered into an agreement that refinanced the existing ESOP loan into a new Term Loan in the amount of $35,092 (the "Agreement"). The Agreement also provided for a Line Note with $10,908 available to purchase shares of Griffon common stock in the open market. During 2017, Griffon's ESOP purchased 621,875 shares of common stock for a total of $10,908 or $17.54 per share, under a borrowing line that has now been fully utilized. On June 30, 2017, the Term Loan and Line Note were combined into a single Term Loan. The Term Loan interest rate was LIBOR plus 2.91% . The Term Loan required quarterly principal payments of $569 and a balloon payment due at maturity. As a result of the special cash dividend of $1.00 per share, paid on April 16, 2018, the outstanding balance of the Term Loan was reduced by $5,705 . The Term Loan was secured by shares purchased with the proceeds of the loan and with a lien on a specific amount of Griffon assets (which ranked pari passu with the lien granted on such assets under the Credit Agreement) and was guaranteed by Griffon. On March 13, 2019, the ESOP Term Loan was refinanced with an internal loan from Griffon which was funded with cash and a draw on its $350,000 credit facility. The internal loan interest rate is fixed at 2.91% , matures in June 2033 and requires quarterly payments of principal, currently $569 , and interest. The internal loan is secured by shares purchased with the proceeds of the loan. The amount outstanding on the internal loan at March 31, 2019 was $33,556 . (e) Two Griffon subsidiaries have capital leases outstanding for real estate located in Troy, Ohio and Ocala, Florida. The leases mature in 2021 and 2022 , respectively, and bear interest at fixed rates of approximately 5.0% and 8.0% , respectively. The Troy, Ohio lease is secured by a mortgage on the real estate and is guaranteed by Griffon. The Ocala, Florida lease contains two five -year renewal options. At March 31, 2019 , $5,903 was outstanding, net of issuance costs. (f) In November 2012, Garant G.P. (“Garant”) entered into a CAD $15,000 ( $11,174 as of March 31, 2019 ) revolving credit facility. The facility accrues interest at LIBOR (USD) or the Bankers Acceptance Rate (CDN) plus 1.3% per annum ( 3.79% LIBOR USD and 3.14% Bankers Acceptance Rate CDN as of March 31, 2019 ). The revolving facility matures in October 2019. Garant is required to maintain a certain minimum equity. At March 31, 2019 , there were no borrowings under the revolving credit facility with CAD 15,000 ( $11,174 as of March 31, 2019 ) available for borrowing. In July 2016, Griffon Australia Holdings Pty Ltd and its Australian subsidiaries ("Griffon Australia") entered into an AUD 30,000 term loan and an AUD 10,000 revolver. The term loan refinanced two existing term loans and the revolver replaced two existing lines. In December 2016, the amount available under the revolver was increased from AUD 10,000 to AUD 20,000 and, in March 2017 and September 2017, the term loan commitment was increased by AUD 5,000 and AUD 15,000 , respectively. In March 2019, the term loan commitment was reduced by AUD $10,000 with proceeds from a receivable purchase agreement in the amount of AUD 10,000 . The term loan requires quarterly principal payments of AUD 1,250 plus interest with a balloon payment of AUD 13,375 due upon maturity in March 2022, and accrues interest at Bank Bill Swap Bid Rate “BBSY” plus 1.90% per annum ( 3.62% at March 31, 2019 ). As of March 31, 2019 , the term loan had an outstanding balance of AUD 28,375 ( $20,104 as of March 31, 2019 ). The revolving facility and receivable purchase facility mature in March 2020, but are renewable upon mutual agreement with the lender. The revolving facility and receivable purchase facility accrue interest at BBSY plus 1.8% and 1.0% , respectively, per annum ( 3.55% and 2.75% , respectively, at March 31, 2019 ). At March 31, 2019, the revolver and receivable purchase facilities had outstanding balances of AUD 6,000 and AUD 10,000 , respectively ( $4,251 and $7,085 , respectively, as of March 31, 2019). The revolver, receivable purchase facility and the term loan are all secured by substantially all of the assets of Griffon Australia and its subsidiaries. Griffon Australia is required to maintain a certain minimum equity level and is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. In July 2018, the AMES Companies UK Ltd and its subsidiaries ("AMES UK") entered into a GBP 14,000 term loan, GBP 4,000 mortgage loan and GBP 5,000 revolver. The term loan and mortgage loan require quarterly principal payments of GBP 350 and GBP 83 plus interest, respectively, and have balloon payments due upon maturity, July 2023, of GBP 7,000 and GBP 2,333 , respectively. The Term Loan and Mortgage Loans accrue interest at the GBP LIBOR Rate plus 2.25% and 1.8% , respectively ( 3.10% and 2.65% at March 31, 2019 , respectively). The revolving facility matures in July 2019, but is renewable upon mutual agreement with the lender, and accrues interest at the Bank of England Base Rate plus 1.5% ( 2.25% as of March 31, 2019 ). As of March 31, 2019, the revolver had an outstanding balance of GBP 4,639 ( $6,087 as March 31, 2019 ) while the term and mortgage loan balances amounted to GBP $16,698 ( $21,910 as of March 31, 2019). The revolver and the term loan are both secured by substantially all of the assets of AMES UK and its subsidiaries. AMES UK is subject to a maximum leverage ratio and a minimum fixed charges cover ratio. An invoice discounting arrangement was canceled and replaced by the above loan facilities. (g) Other long-term debt consists primarily of a loan with the Pennsylvania Industrial Development Authority, with the balance consisting of capital leases. At March 31, 2019

EARNINGS PER SHARE (EPS) (Table

EARNINGS PER SHARE (EPS) (Tables)	6 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table is a reconciliation of the share amounts (in thousands) used in computing earnings per share: Three Months Ended March 31, Six Months Ended March 31, 2019 2018 2019 2018 Weighted average shares outstanding - basic 40,949 41,477 40,849 41,700 Incremental shares from stock based compensation 1,883 1,288 1,527 1,362 Weighted average shares outstanding - diluted 42,832 42,765 42,376 43,062

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	6 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table provides a reconciliation of Segment adjusted EBITDA to Income (loss) before taxes from continuing operations: For the Three Months Ended March 31, For the Six Months Ended March 31, 2019 2018 2019 2018 Segment adjusted EBITDA: Home & Building Products $ 48,753 $ 39,789 $ 100,613 $ 79,246 Defense Electronics 4,936 3,997 9,721 8,196 Total Segment adjusted EBITDA 53,689 43,786 110,334 87,442 Net interest expense (17,305 ) (16,044 ) (33,636 ) (32,686 ) Segment depreciation and amortization (15,353 ) (13,199 ) (30,304 ) (26,051 ) Unallocated amounts (11,347 ) (10,541 ) (22,745 ) (20,977 ) Acquisition costs — (814 ) — (3,999 ) Cost of life insurance benefit — — — (2,614 ) Income before taxes from continuing operations $ 9,684 $ 3,188 $ 23,649 $ 1,115 For the Three Months Ended March 31, For the Six Months Ended March 31, INCOME BEFORE TAXES FROM CONTINUING OPERATIONS 2019 2018 2019 2018 Segment operating profit: Home & Building Products $ 36,021 $ 28,478 $ 75,566 $ 56,229 Defense Electronics 2,315 1,302 4,464 2,782 Segment operating profit from continuing operations 38,336 29,780 80,030 59,011 Net interest expense (17,305 ) (16,044 ) (33,636 ) (32,686 ) Unallocated amounts (11,347 ) (10,541 ) (22,745 ) (20,977 ) Acquisition costs — (7 ) — (1,619 ) Cost of life insurance benefit — — — (2,614 ) Income before taxes from continuing operations $ 9,684 $ 3,188 $ 23,649 $ 1,115 For the Three Months Ended March 31, For the Six Months Ended March 31, REVENUE 2019 2018 2019 2018 Home & Building Products: AMES $ 287,732 $ 258,196 $ 504,206 $ 474,938 CBP 186,799 138,112 410,094 292,348 Home & Building Products 474,531 396,308 914,300 767,286 Defense Electronics 75,102 82,252 145,855 148,577 Total consolidated net sales $ 549,633 $ 478,560 $ 1,060,155 $ 915,863
Disaggregation of Revenue	The following table presents revenue disaggregated by end market and segment: For the Quarter Ended March 31, 2019 For the Six Months Ended March 31, 2019 Residential repair and remodel $ 128,711 $ 269,236 Retail 162,576 275,941 Commercial construction 76,181 160,557 Residential new construction 33,892 73,716 Industrial 11,416 21,174 International excluding North America 61,755 113,676 Total Home and Building Products segment 474,531 914,300 U.S. Government 46,376 91,936 International 23,129 45,228 Commercial 5,597 8,691 Total Defense Electronics segment 75,102 145,855 Total Consolidated Revenue $ 549,633 $ 1,060,155 The following table presents revenue disaggregated by geography based on the location of the Company's customer: For the Three Months Ended March 31, 2019 Revenue by Geographic Area - Destination Home & Building Products Defense Electronics Total United States $ 380,390 $ 51,179 $ 431,569 Europe 20,372 8,490 28,862 Canada 25,828 3,058 28,886 Australia 42,016 979 42,995 All other countries 5,925 11,396 17,321 Consolidated revenue $ 474,531 $ 75,102 $ 549,633
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	For the Three Months Ended March 31, For the Six Months Ended March 31, DEPRECIATION and AMORTIZATION 2019 2018 2019 2018 Segment: Home & Building Products $ 12,732 $ 10,504 $ 25,047 $ 20,637 Defense Electronics 2,621 2,695 5,257 5,414 Total segment depreciation and amortization 15,353 13,199 30,304 26,051 Corporate 139 114 273 220 Total consolidated depreciation and amortization $ 15,492 $ 13,313 $ 30,577 $ 26,271 CAPITAL EXPENDITURES Segment: Home & Building Products $ 6,330 $ 8,192 $ 13,475 $ 14,850 Defense Electronics 2,499 2,442 3,733 4,385 Total segment 8,829 10,634 17,208 19,235 Corporate 192 209 210 2,393 Total consolidated capital expenditures $ 9,021 $ 10,843 $ 17,418 $ 21,628 ASSETS At March 31, 2019 At September 30, 2018 Segment assets: Home & Building Products $ 1,729,199 $ 1,631,631 Defense Electronics 325,179 346,907 Total segment assets 2,054,378 1,978,538 Corporate 86,305 103,112 Total continuing assets 2,140,683 2,081,650 Assets of discontinued operations 3,225 3,240 Consolidated total $ 2,143,908 $ 2,084,890

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	Defined benefit pension expense (income) was as follows: Three Months Ended March 31, Six Months Ended March 31, 2019 2018 2019 2018 Interest cost $ 1,571 $ 1,407 $ 3,141 $ 2,814 Expected return on plan assets (2,583 ) (2,639 ) (5,166 ) (5,278 ) Amortization: Prior service cost 3 4 7 8 Recognized actuarial loss 222 346 444 692 Net periodic expense (income) $ (787 ) $ (882 ) $ (1,574 ) $ (1,764 )

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Mar. 31, 2019
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 of PPC and Installation Services and other discontinued activities which have been segregated from Griffon’s continuing operations, and are reported as assets and liabilities of discontinued operations not held for sale in the Condensed Consolidated Balance Sheets: At March 31, 2019 At September 30, 2018 Assets of discontinued operations: Prepaid and other current assets $ 324 $ 324 Other long-term assets 2,901 2,916 Total assets of discontinued operations $ 3,225 $ 3,240 Liabilities of discontinued operations: Accrued liabilities, current $ 11,657 $ 7,210 Other long-term liabilities 2,307 2,647 Total liabilities of discontinued operations $ 13,964 $ 9,857 For the Three Months Ended March 31, 2018 For the Six Months Ended March 31, 2018 Revenue $ 45,832 $ 166,262 Cost of goods and services 36,157 132,100 Gross profit 9,675 34,162 Selling, general and administrative expenses 13,995 26,103 Income (loss) from discontinued operations (4,320 ) 8,059 Other income (expense) Gain on sale of business 117,625 117,625 Interest expense, net (95 ) (155 ) Other, net 166 (687 ) Total other income (expense) 117,696 116,783 Income from operations of discontinued operations $ 113,376 $ 124,842

WARRANTY LIABILITY (Tables)

WARRANTY LIABILITY (Tables)	6 Months Ended
	Mar. 31, 2019
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in Griffon’s warranty liability, included in Accrued liabilities, were as follows: Three Months Ended March 31, Six Months Ended March 31, 2019 2018 2019 2018 Balance, beginning of period $ 9,041 $ 6,055 $ 8,174 $ 6,236 Warranties issued and changes in estimated pre-existing warranties 4,700 1,637 8,761 3,112 Actual warranty costs incurred (5,730 ) (1,434 ) (8,924 ) (3,926 ) Other warranty liabilities assumed from acquisitions — — — 836 Balance, end of period $ 8,011 $ 6,258 $ 8,011 $ 6,258

OTHER COMPREHENSIVE INCOME (L_2

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	6 Months Ended
	Mar. 31, 2019
OCI, Net of Tax [Abstract]
Comprehensive Income (Loss)	The amounts recognized in other comprehensive income (loss) were as follows: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ 2,885 $ — $ 2,885 $ 19,714 $ — $ 19,714 Pension and other defined benefit plans 201 (17 ) 184 376 (129 ) 247 Cash flow hedges (264 ) 75 (189 ) 616 (176 ) 440 Total other comprehensive income (loss) $ 2,822 $ 58 $ 2,880 $ 20,706 $ (305 ) $ 20,401 Six Months Ended March 31, 2019 Six Months Ended March 31, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Foreign currency translation adjustments $ (2,851 ) $ — $ (2,851 ) $ 18,425 $ — $ 18,425 Pension and other defined benefit plans 472 (104 ) 368 14,620 (4,814 ) 9,806 Cash flow hedges (107 ) 20 (87 ) 746 (218 ) 528 Total other comprehensive income (loss) $ (2,486 ) $ (84 ) $ (2,570 ) $ 33,791 $ (5,032 ) $ 28,759 The components of Accumulated other comprehensive income (loss) are as follows: March 31, 2019 September 30, 2018 Foreign currency translation adjustments $ (25,675 ) $ (22,824 ) Pension and other defined benefit plans (11,391 ) (11,759 ) Change in Cash flow hedges 384 471 $ (36,682 ) $ (34,112 )
Reclassification out of Accumulated Other Comprehensive Income	Amounts reclassified from accumulated other comprehensive income (loss) to income were as follows: For the Three Months Ended March 31, For the Six Months Ended March 31, Gain (Loss) 2019 2018 2019 2018 Pension amortization $ (225 ) $ (350 ) $ (451 ) $ (700 ) Cash flow hedges 310 (34 ) 992 (40 ) Removal of PPC foreign currency translation — 14,866 — 14,866 Total gain (loss) 85 14,482 541 14,126 Tax benefit (expense) (18 ) (3,357 ) (114 ) (3,400 ) Total $ 67 $ 11,125 $ 427 $ 10,726

CONSOLIDATING GUARANTOR AND N_2

CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Tables)	6 Months Ended
	Mar. 31, 2019
Consolidating Guarantor And Non Guarantor Financial Information [Abstract]
Condensed Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEETS At March 31, 2019 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation CURRENT ASSETS Cash and equivalents $ 5,067 $ 31,858 $ 21,054 $ — $ 57,979 Accounts receivable, net of allowances — 288,362 55,687 — 344,049 Contract costs and recognized income not yet billed, net of progress payments — 82,811 1,093 — 83,904 Inventories, net — 389,223 67,835 13 457,071 Prepaid and other current assets 17,735 19,910 5,761 2,372 45,778 Assets of discontinued operations — — 324 — 324 Total Current Assets 22,802 812,164 151,754 2,385 989,105 PROPERTY, PLANT AND EQUIPMENT, net 1,005 291,449 40,398 — 332,852 GOODWILL — 394,056 45,062 — 439,118 INTANGIBLE ASSETS, net 93 278,055 86,592 — 364,740 INTERCOMPANY RECEIVABLE 122,555 679,010 66,931 (868,496 ) — EQUITY INVESTMENTS IN SUBSIDIARIES 1,552,035 512,201 3,045,503 (5,109,739 ) — OTHER ASSETS 7,180 16,774 (2,079 ) (6,683 ) 15,192 ASSETS OF DISCONTINUED OPERATIONS — — 2,901 — 2,901 Total Assets $ 1,705,670 $ 2,983,709 $ 3,437,062 $ (5,982,533 ) $ 2,143,908 CURRENT LIABILITIES Notes payable and current portion of long-term debt $ — $ 3,495 $ 7,312 $ — $ 10,807 Accounts payable and accrued liabilities 17,409 292,428 31,439 2,444 343,720 Liabilities of discontinued operations — — 11,657 — 11,657 Total Current Liabilities 17,409 295,923 50,408 2,444 366,184 LONG-TERM DEBT, net 1,146,231 4,378 55,586 — 1,206,195 INTERCOMPANY PAYABLES 56,415 381,703 421,184 (859,302 ) — OTHER LIABILITIES 11,331 69,856 17,401 (3,650 ) 94,938 LIABILITIES OF DISCONTINUED OPERATIONS — — 2,307 — 2,307 Total Liabilities 1,231,386 751,860 546,886 (860,508 ) 1,669,624 SHAREHOLDERS’ EQUITY 474,284 2,231,849 2,890,176 (5,122,025 ) 474,284 Total Liabilities and Shareholders’ Equity $ 1,705,670 $ 2,983,709 $ 3,437,062 $ (5,982,533 ) $ 2,143,908 At September 30, 2018 ($ in thousands) Parent Guarantor Non-Guarantor Elimination Consolidation CURRENT ASSETS Cash and equivalents $ 15,976 $ 16,353 $ 37,429 $ — $ 69,758 Accounts receivable, net of allowances — 234,885 69,729 (24,105 ) 280,509 Contract costs and recognized income not yet billed, net of progress payments — 121,393 410 — 121,803 Inventories, net — 332,067 66,373 (81 ) 398,359 Prepaid and other current assets 12,179 21,313 6,168 2,461 42,121 Assets of discontinued operations — — 324 — 324 Total Current Assets 28,155 726,011 180,433 (21,725 ) 912,874 PROPERTY, PLANT AND EQUIPMENT, net 936 299,920 41,636 — 342,492 GOODWILL 6,646 361,507 71,242 — 439,395 INTANGIBLE ASSETS, net 93 293,093 77,672 — 370,858 INTERCOMPANY RECEIVABLE 56,396 314,394 (121,445 ) (249,345 ) — EQUITY INVESTMENTS IN SUBSIDIARIES 1,528,932 968,330 3,347,894 (5,845,156 ) — OTHER ASSETS 8,651 15,942 374 (8,612 ) 16,355 ASSETS OF DISCONTINUED OPERATIONS — — 2,916 — 2,916 Total Assets $ 1,629,809 $ 2,979,197 $ 3,600,722 $ (6,124,838 ) $ 2,084,890 CURRENT LIABILITIES Notes payable and current portion of long-term debt $ 2,276 $ 3,398 $ 7,337 $ — $ 13,011 Accounts payable and accrued liabilities 26,639 303,154 59,531 (16,474 ) 372,850 Liabilities of discontinued operations — (22,327 ) 29,537 — 7,210 Total Current Liabilities 28,915 284,225 96,405 (16,474 ) 393,071 LONG-TERM DEBT, net 1,044,071 6,110 57,890 — 1,108,071 INTERCOMPANY PAYABLES 66,058 (77,760 ) 263,227 (251,525 ) — OTHER LIABILITIES 16,374 73,391 20,592 (3,647 ) 106,710 LIABILITIES OF DISCONTINUED OPERATIONS — — 2,647 — 2,647 Total Liabilities 1,155,418 285,966 440,761 (271,646 ) 1,610,499 SHAREHOLDERS’ EQUITY 474,391 2,693,231 3,159,961 (5,853,192 ) 474,391 Total Liabilities and Shareholders’ Equity $ 1,629,809 $ 2,979,197 $ 3,600,722 $ (6,124,838 ) $ 2,084,890
Condensed Income Statement	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Three Months Ended March 31, 2019 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation Revenue $ — $ 462,739 $ 94,285 $ (7,391 ) $ 549,633 Cost of goods and services — 354,382 65,516 (7,769 ) 412,129 Gross profit — 108,357 28,769 378 137,504 Selling, general and administrative expenses 5,249 84,813 21,409 312 111,783 Income (loss) from operations (5,249 ) 23,544 7,360 66 25,721 Other income (expense) Interest income (expense), net (7,328 ) (9,128 ) (849 ) — (17,305 ) Other, net (473 ) 1,129 676 (64 ) 1,268 Total other income (expense) (7,801 ) (7,999 ) (173 ) (64 ) (16,037 ) Income (loss) before taxes (13,050 ) 15,545 7,187 2 9,684 Provision (benefit) for income taxes (4,242 ) 5,292 2,142 2 3,194 Income (loss) before equity in net income of subsidiaries (8,808 ) 10,253 5,045 — 6,490 Equity in net income (loss) of subsidiaries 7,652 11,646 10,253 (29,551 ) — Income from continuing operations $ (1,156 ) $ 21,899 $ 15,298 $ (29,551 ) $ 6,490 Income from operations of discontinued businesses — — (11,000 ) — (11,000 ) Provision from income taxes — — (3,354 ) — (3,354 ) Income from discontinued operations — — (7,646 ) — (7,646 ) Net Income (loss) $ (1,156 ) $ 21,899 $ 7,652 $ (29,551 ) $ (1,156 ) Comprehensive income (loss) $ 1,724 $ 5,448 $ 8,736 $ (14,184 ) $ 1,724 For the Three Months Ended March 31, 2018 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation Revenue $ — $ 397,759 $ 89,910 $ (9,109 ) $ 478,560 Cost of goods and services — 305,919 60,627 (9,365 ) 357,181 Gross profit — 91,840 29,283 256 121,379 Selling, general and administrative expenses 5,438 65,871 33,277 (93 ) 104,493 Income (loss) from operations (5,438 ) 25,969 (3,994 ) 349 16,886 Other income (expense) Interest income (expense), net (5,961 ) (8,013 ) (2,070 ) — (16,044 ) Other, net 697 12,149 (10,038 ) (462 ) 2,346 Total other income (expense) (5,264 ) 4,136 (12,108 ) (462 ) (13,698 ) Income (loss) before taxes (10,702 ) 30,105 (16,102 ) (113 ) 3,188 Provision (benefit) for income taxes (10,168 ) (10,037 ) (6,202 ) 27,644 1,237 Income (loss) before equity in net income of subsidiaries (534 ) 40,142 (9,900 ) (27,757 ) 1,951 Equity in net income (loss) of subsidiaries 90,814 (59,707 ) 40,140 (71,247 ) — Income (loss) from continuing operations 90,280 (19,565 ) 30,240 (99,004 ) 1,951 Income from operation of discontinued businesses — (8,423 ) 121,799 — 113,376 Provision (benefit) from income taxes — 859 24,188 — 25,047 Income (loss) from discontinued operations — (9,282 ) 97,611 — 88,329 Net Income (loss) $ 90,280 $ (28,847 ) $ 127,851 $ (99,004 ) $ 90,280 Comprehensive income (loss) $ 110,681 $ 1,444 $ 123,670 $ (125,114 ) $ 110,681
Condensed Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS For the Six Months Ended March 31, 2019 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 7,597 $ 38,703 $ 24,499 $ (63,202 ) $ 7,597 Net (income) loss from discontinued operations — — 7,646 — 7,646 Net cash provided by (used in) operating activities: (77,881 ) 24,130 (1,255 ) — (55,006 ) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant and equipment (210 ) (14,071 ) (3,137 ) — (17,418 ) Acquired businesses, net of cash acquired (9,219 ) — — — (9,219 ) Investment purchases (149 ) — — — (149 ) Insurance proceeds (payments) (10,604 ) — — — (10,604 ) Proceeds from sale of assets — 36 26 — 62 Net cash provided by investing activities (20,182 ) (14,035 ) (3,111 ) — (37,328 ) CASH FLOWS FROM FINANCING ACTIVITIES: Purchase of shares for treasury (1,478 ) — — — (1,478 ) Proceeds from long-term debt 130,484 76 12,541 — 143,101 Payments of long-term debt (32,419 ) (1,724 ) (14,026 ) — (48,169 ) Financing costs (945 ) — — — (945 ) Contingent consideration for acquired businesses — — (1,686 ) — (1,686 ) Dividends paid (6,847 ) — — — (6,847 ) Other, net (1,641 ) 7,150 (5,426 ) — 83 Net cash provided by (used in) financing activities 87,154 5,502 (8,597 ) — 84,059 CASH FLOWS FROM DISCONTINUED OPERATIONS: Net cash used in discontinued operations — — (3,438 ) — (3,438 ) Effect of exchange rate changes on cash and equivalents — (92 ) 26 — (66 ) NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS (10,909 ) 15,505 (16,375 ) — (11,779 ) CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 15,976 16,353 37,429 — 69,758 CASH AND EQUIVALENTS AT END OF PERIOD $ 5,067 $ 31,858 $ 21,054 $ — $ 57,979 For the Six Months Ended March 31, 2018 ($ in thousands) Parent Company Guarantor Companies Non-Guarantor Companies Elimination Consolidation CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 121,269 $ (19,529 ) $ 142,905 $ (123,376 ) $ 121,269 Net (income) loss from discontinued operations — 4,921 (101,408 ) — (96,487 ) Net cash provided by (used in) operating activities: 275,619 (360,855 ) 38,136 — (47,100 ) CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property, plant and equipment (331 ) (16,208 ) (5,089 ) — (21,628 ) Acquired businesses, net of cash acquired (185,729 ) (5,076 ) (55,425 ) — (246,230 ) Proceeds from sale of business — 473,977 — — 473,977 Insurance proceeds (payments) 8,254 — — — 8,254 Proceeds from sale of assets — 21 433 — 454 Net cash provided by (used in) investing activities (177,806 ) 452,714 (60,081 ) — 214,827 CASH FLOWS FROM FINANCING ACTIVITIES: Purchase of shares for treasury (32,861 ) — — — (32,861 ) Proceeds from long-term debt 342,161 2,195 3,542 — 347,898 Payments of long-term debt (197,322 ) (1,613 ) (31,006 ) — (229,941 ) Financing costs (7,451 ) — — — (7,451 ) Dividends paid (5,872 ) — — — (5,872 ) Other, net (22,279 ) (40,668 ) 63,073 — 126 Net cash provided by (used in) financing activities 76,376 (40,086 ) 35,609 — 71,899 CASH FLOWS FROM DISCONTINUED OPERATIONS: Net cash used in discontinued operations — (36,875 ) (11,508 ) — (48,383 ) Effect of exchange rate changes on cash and equivalents — (27 ) (2,441 ) — (2,468 ) NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS 174,189 14,871 (285 ) — 188,775 CASH AND EQUIVALENTS AT BEGINNING OF PERIOD 3,240 8,066 36,375 — 47,681 CASH AND EQUIVALENTS AT END OF PERIOD $ 177,429 $ 22,937 $ 36,090 $ — $ 236,456

DESCRIPTION OF BUSINESS AND B_3

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) - Home And Building Products [Member]	6 Months Ended
	Mar. 31, 2019segmentcompany
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Number of companies | company	2

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) $ / shares in Units, $ in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2019AUD ($)	Mar. 31, 2019USD ($)$ / shares	Mar. 31, 2018USD ($)	Mar. 31, 2019USD ($)
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Contracts revenue	$ 549,633	$ 478,560		$ 1,060,155	$ 915,863
Australian Dollar Forward Contract [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Gains recorded in Other Income for settled contracts	242			$ 934
Australian Dollar Forward Contract [Member] | Designated as Hedging Instrument [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Contracts revenue			$ 8,000
Contracts weighted average rate price (in dollars per share) | $ / shares				$ 1.41
AOCI currency translation adjustment before tax						$ 549
AOCI currency translation adjustment after tax						$ 384
Australian Dollar Forward Contract [Member] | Designated as Hedging Instrument [Member] | Minimum [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Foreign currency contracts duration			30 days	30 days
Australian Dollar Forward Contract [Member] | Designated as Hedging Instrument [Member] | Maximum [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Foreign currency contracts duration			88 days	88 days
Canadian Dollar Forward Contracts [Member] | Not Designated as Hedging Instrument [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Derivative asset, notional amount			$ 1,460
Derivative, average forward exchange rate			1.33			1.33
Canadian Dollar Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Minimum [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Foreign currency contracts duration			29 days	29 days
Canadian Dollar Forward Contracts [Member] | Not Designated as Hedging Instrument [Member] | Maximum [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Foreign currency contracts duration			120 days	120 days
Fair Value, Inputs, Level 2 [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Insurance contracts fair value						$ 2,481
Fair Value, Inputs, Level 2 [Member] | Canadian Dollar Forward Contracts [Member] | Not Designated as Hedging Instrument [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Gain (loss) on foreign currency derivative instruments not designated as hedging instruments	(18)			$ 23
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Trading securities						2,825
Portion at Other than Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Trading securities						2,233
Other Income [Member] | Fair Value, Inputs, Level 2 [Member] | Canadian Dollar Forward Contracts [Member] | Not Designated as Hedging Instrument [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Realized gains (losses)	$ (68)			$ (58)
Senior notes due 2022 [Member] | Fair Value, Inputs, Level 1 [Member]
FAIR VALUE MEASUREMENTS (Details) [Line Items]
Convertible debt, fair value disclosures						$ 985,770

REVENUE - Cumulative Effective

REVENUE - Cumulative Effective of Adoption of ASC 606 (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Oct. 01, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
CURRENT ASSETS
Contract costs and recognized income not yet billed, net of progress payments	$ 83,904		$ 83,904			$ 100,821	$ 121,803
Inventories	457,071		457,071			420,384	398,359
Total Current Assets	989,105		989,105			913,917	912,874
Total Assets	2,143,908		2,143,908			2,085,933	2,084,890
CURRENT LIABILITIES
Accounts payable	223,188		223,188			241,940	233,658
Billings in excess of costs	28,227		28,227			25,841
Total Current Liabilities	366,184		366,184			401,353	393,071
OTHER LIABILITIES	94,938		94,938			105,144	106,710
Total Liabilities	1,669,624		1,669,624			1,617,215	1,610,499
SHAREHOLDERS’ EQUITY
Retained Earnings	545,600		545,600			544,850
Total Shareholders' Equity	474,284	$ 474,018	474,284	$ 474,018	$ 471,561	468,718	474,391	$ 434,813	$ 398,808
Total Liabilities and Shareholders’ Equity	2,143,908		2,143,908			2,085,933	2,084,890
Income Statement
Net sales	549,633	478,560	1,060,155	915,863
Cost of goods and services	412,129	357,181	779,605	673,705
Income (loss) before taxes from continuing operations	9,684	3,188	23,649	1,115
Provision (benefit) from income taxes	3,194	1,237	8,406	(23,667)
Income from continuing operations	6,490	$ 1,951	15,243	$ 24,782
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
CURRENT ASSETS
Contract costs and recognized income not yet billed, net of progress payments	98,700		98,700				121,803
Inventories	439,543		439,543				398,359
Total Current Assets	986,373		986,373				912,874
Total Assets	2,141,176		2,141,176				2,084,890
CURRENT LIABILITIES
Accounts payable	214,906		214,906				233,658
Billings in excess of costs	19,945		19,945				17,559
Total Current Liabilities	357,902		357,902				393,071
OTHER LIABILITIES	96,136		96,136				106,710
Total Liabilities	1,662,540		1,662,540				1,610,499
SHAREHOLDERS’ EQUITY
Retained Earnings	549,952		549,952				550,523
Total Shareholders' Equity	478,636		478,636				474,391
Total Liabilities and Shareholders’ Equity	2,141,176		2,141,176				$ 2,084,890
Income Statement
Net sales	548,053		1,053,969
Cost of goods and services	410,898		775,109
Income (loss) before taxes from continuing operations	9,335		21,960
Provision (benefit) from income taxes	3,118		8,038
Income from continuing operations	6,217		13,922
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Accounting Standards Update 2014-09 (ASC 606) [Member]
CURRENT ASSETS
Contract costs and recognized income not yet billed, net of progress payments	(14,796)		(14,796)			(20,982)
Inventories	17,528		17,528			22,025
Total Current Assets	2,732		2,732			1,043
Total Assets	2,732		2,732			1,043
CURRENT LIABILITIES
Accounts payable	8,282		8,282			8,282
Billings in excess of costs	8,282		8,282			8,282
Total Current Liabilities	8,282		8,282			8,282
OTHER LIABILITIES	(1,198)		(1,198)			(1,566)
Total Liabilities	7,084		7,084			6,716
SHAREHOLDERS’ EQUITY
Retained Earnings	(4,352)		(4,352)			(5,673)
Total Shareholders' Equity	(4,352)		(4,352)			(5,673)
Total Liabilities and Shareholders’ Equity	2,732		2,732			$ 1,043
Income Statement
Net sales	1,580		6,186
Cost of goods and services	1,231		4,496
Income (loss) before taxes from continuing operations	349		1,689
Provision (benefit) from income taxes	76		368
Income from continuing operations	$ 273		$ 1,321

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Oct. 01, 2018	Sep. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of performance obligations recognized at a point in time (more than)				80.00%
Percentage of performance obligations recognized over time (less than)				20.00%
Favorable (unfavorable) catch-up adjustments to income from operations		$ (2,800)	$ (1,800)	$ (5,300)	$ (1,300)
Accumulated estimated costs to complete loss contracts		7,400		7,400			$ 12,200
Contract costs and recognized income not yet billed, net of progress payments, current		83,904		83,904		$ 100,821	121,803
Decrease in contract assets balance				37,899
Contract costs and recognized income not yet billed, net of progress payments, noncurrent		21,700		21,700			29,500
Unbilled receivable reserve		700		700			400
Billings in excess of costs		28,227		28,227		25,841
Increase in billings in excess of costs				10,668
Accounting Standards Update 2014-09 (ASC 606) [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment for new accounting pronouncement	[1]					5,673
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract costs and recognized income not yet billed, net of progress payments, current		98,700		98,700			121,803
Billings in excess of costs		$ 19,945		$ 19,945			$ 17,559
Retained Earnings [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment for new accounting pronouncement	[1]					5,673
Retained Earnings [Member] | Accounting Standards Update 2014-09 (ASC 606) [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment for new accounting pronouncement	[1]					$ 5,673
Minimum [Member] | Home And Building Products [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment term				15 days
Maximum [Member] | Home And Building Products [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment term				90 days
[1]	See Note 14 - Recent Accounting Pronouncements and Note 3 - Revenue for additional information.

REVENUE - Transaction Price All

REVENUE - Transaction Price Allocated to the Remaining Performance Obligations (Details) $ in Thousands	Mar. 31, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations (backlog)	$ 378,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (backlog), percentage to to be satisfied by the end of the year	73.00%
Remaining performance obligations (backlog), expected timing of satisfaction, period

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) £ in Thousands, $ in Thousands	Jun. 04, 2018USD ($)	Feb. 13, 2018GBP (£)	Feb. 13, 2018USD ($)	Nov. 06, 2017USD ($)	Oct. 02, 2017USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2018USD ($)
ACQUISITIONS (Details) [Line Items]
Acquisition related costs						$ 0
Cornell Cookson [Member]
ACQUISITIONS (Details) [Line Items]
Percentage of outstanding stock acquired	100.00%
Business combination, consideration transferred	$ 180,000
Post-closing adjustments	12,426
Intangible assets	67,600
Property, plant and equipment	49,426
Accounts receivable	$ 30,400
Kelkay [Member]
ACQUISITIONS (Details) [Line Items]
Percentage of outstanding stock acquired		100.00%
Business combination, consideration transferred		£ 40,452	$ 56,118
Contingent consideration | £		7,000
Land | £		19,000
Intangible assets | £		6,640
Accounts receivable and inventory | £		8,894
Property, plant and equipment | £		£ 8,241
Harper Brush Works [Member]
ACQUISITIONS (Details) [Line Items]
Business combination, consideration transferred				$ 4,383
Intangible assets				2,300
Property, plant and equipment				900
Accounts receivable				$ 3,900
ClosetMaid LLC [Member]
ACQUISITIONS (Details) [Line Items]
Business combination, consideration transferred					$ 185,700
Intangible assets					74,580
Property, plant and equipment					47,464
Accounts receivable					$ 32,234
Selling, general and administrative expense [Member]
ACQUISITIONS (Details) [Line Items]
Acquisition related costs							$ 814	$ 2,499
Cost of goods and services [Member]
ACQUISITIONS (Details) [Line Items]
Acquisition related costs								$ 1,500

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed Cornell Cookson (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018	Jun. 04, 2018
Business Acquisition [Line Items]
Goodwill	$ 439,118	$ 439,395
Cornell Cookson [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 30,400
Inventories			12,336
Property, plant and equipment			49,426
Goodwill			43,183
Intangible assets			67,600
Other current and non-current assets			2,648
Total assets acquired			205,593
Accounts payable and accrued liabilities			12,507
Long-term liabilities			660
Total liabilities assumed			13,167
Total			192,426
Gross accounts receivable			30,818
Allowance for accounts receivable			418
Gross inventory			13,434
Inventory reserves			$ 1,098

ACQUISITIONS (Details) - Summar

ACQUISITIONS (Details) - Summary of Goodwill and Intangible Asset Classifications - USD ($) $ in Thousands	Jun. 04, 2018	Oct. 02, 2017	Mar. 31, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Goodwill			$ 439,118	$ 439,395
Cornell Cookson [Member]
Business Acquisition [Line Items]
Goodwill	$ 43,183
Indefinite-lived intangibles	53,500
Definite-lived intangibles	14,100
Total goodwill and intangible assets	$ 110,783
Average Life	12 years
ClosetMaid LLC [Member]
Business Acquisition [Line Items]
Goodwill		$ 70,159
Indefinite-lived intangibles		47,740
Definite-lived intangibles		26,840
Total goodwill and intangible assets		$ 144,739
Average Life		21 years

ACQUISITIONS (Details) - Summ_2

ACQUISITIONS (Details) - Summary of Fair Values of Assets Acquired - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018	Oct. 02, 2017
Business Acquisition [Line Items]
Goodwill	$ 439,118	$ 439,395
ClosetMaid LLC [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 32,234
Inventories			28,411
Property, plant and equipment			47,464
Goodwill			70,159
Intangible assets			74,580
Other current and non-current assets			3,852
Total assets acquired			256,700
Accounts payable and accrued liabilities			68,251
Long-term liabilities			2,720
Total liabilities assumed			70,971
Total			185,729
Gross accounts receivable			32,956
Allowance for accounts receivable			722
Gross inventory			29,079
Inventory reserves			668
Inventory basis step-up			$ 1,500

INVENTORIES (Details) - Summary

INVENTORIES (Details) - Summary of Inventories Stated at Lower Cost - USD ($) $ in Thousands	Mar. 31, 2019	Oct. 01, 2018	Sep. 30, 2018
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 104,767		$ 97,645
Work in process	112,264		83,578
Finished goods	240,040		217,136
Total	$ 457,071	$ 420,384	$ 398,359

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - Summary of Property Plant and Equipment - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 739,668	$ 725,282
Accumulated depreciation and amortization	(406,816)	(382,790)
Total	332,852	342,492
Land, building and building improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	132,334	130,296
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	557,351	544,875
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 49,983	$ 50,111

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 12,980	$ 11,530	$ 25,647	$ 22,232
Selling, general and administrative expense [Member]
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 4,761	$ 3,834	$ 9,442	$ 7,576

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES (Details) - Summary of Changes in Carrying Value of Goodwill $ in Thousands	6 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Roll Forward]
September 30, 2018	$ 439,395
Goodwill from acquisitions	300
Other adjustments including currency translations	(577)
March 31, 2019	439,118
Home & Building Products [Member]
Goodwill [Roll Forward]
September 30, 2018	420,850
Goodwill from acquisitions	300
Other adjustments including currency translations	(577)
March 31, 2019	420,573
Telephonics [Member]
Goodwill [Roll Forward]
September 30, 2018	18,545
Goodwill from acquisitions	0
Other adjustments including currency translations	0
March 31, 2019	$ 18,545

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES (Details) - Summary of Gross Carrying Value and Accumulated Amortization of Intangible Assets - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2019	Sep. 30, 2018
GOODWILL AND OTHER INTANGIBLES (Details) - Summary of Gross Carrying Value and Accumulated Amortization of Intangible Assets [Line Items]
Gross Carrying Amount	$ 203,903	$ 205,035
Accumulated Amortization	60,560	56,060
Trademarks	221,397	221,883
Total intangible assets	425,300	426,918
Customer relationships [Member]
GOODWILL AND OTHER INTANGIBLES (Details) - Summary of Gross Carrying Value and Accumulated Amortization of Intangible Assets [Line Items]
Gross Carrying Amount	184,582	186,031
Accumulated Amortization	$ 53,771	49,822
Average Life (Years)	23 years
Unpatented technology [Member]
GOODWILL AND OTHER INTANGIBLES (Details) - Summary of Gross Carrying Value and Accumulated Amortization of Intangible Assets [Line Items]
Gross Carrying Amount	$ 19,321	19,004
Accumulated Amortization	$ 6,789	$ 6,238
Average Life (Years)	13 years

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2,512	$ 1,783	$ 4,930	$ 4,039
Estimated amortization expense, remainder of 2019	4,400		4,400
Estimated amortization expense, fiscal 2020	8,825		8,825
Estimated amortization expense, fiscal 2021	8,825		8,825
Estimated amortization expense, fiscal 2022	8,825		8,825
Estimated amortization expense, fiscal 2023	8,746		8,746
Estimated amortization expense, fiscal 2024	8,700		8,700
Estimated amortization expense, thereafter	$ 95,022		$ 95,022

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Provision (benefit) from income taxes	$ 3,194	$ 1,237	$ 8,406	$ (23,667)
Income (loss) before taxes from continuing operations	9,684	3,188	23,649	1,115
Other tax provisions	$ (97)	368	$ 370
Acquisition related costs		814		3,999
Acquisition related costs net of tax		$ 378		$ 2,726
Effective tax rate	34.00%	32.60%	34.00%	33.90%
Net tax benefits				$ 22,650
Life insurance amounts				2,614
Life insurance related costs, net of tax				$ 248

LONG-TERM DEBT (Details) - Summ

LONG-TERM DEBT (Details) - Summary of Long-Term Debt - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Outstanding Balance	$ 1,228,984	$ 1,134,692
less: Current portion, Outstanding Balance	(10,807)	(13,011)
Long-term debt, Outstanding Balance	1,218,177	1,121,681
Debt Instrument, Unamortized Premium	1,043	1,220
Debt Instrument, Unamortized Premium, Current	0	0
Debt Instrument, Unamortized Premium, Noncurrent	1,043	1,220
Capitalized Fees & Expenses	(13,025)	(14,830)
Long-term debt	1,217,002	1,121,082
less: Current portion	(10,807)	(13,011)
Long-term debt	1,206,195	1,108,071
Senior notes due 2022 [Member]
Debt Instrument [Line Items]
Outstanding Balance	1,000,000	1,000,000
Debt Instrument, Unamortized Premium	1,043	1,220
Capitalized Fees & Expenses	(11,066)	(12,968)
Long-term debt	$ 989,977	$ 988,252
Coupon Interest Rate	5.25%	5.25%
Revolver due 2021 [Member]
Debt Instrument [Line Items]
Outstanding Balance	$ 157,936	$ 25,000
Debt Instrument, Unamortized Premium	0	0
Capitalized Fees & Expenses	(1,682)	(1,413)
Long-term debt	156,254	23,587
ESOP Loans [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	34,694
Debt Instrument, Unamortized Premium	0	0
Capitalized Fees & Expenses	0	(186)
Long-term debt	0	34,508
Capital lease - real estate [Member]
Debt Instrument [Line Items]
Outstanding Balance	5,971	7,503
Debt Instrument, Unamortized Premium	0	0
Capitalized Fees & Expenses	(68)	(80)
Long-term debt	$ 5,903	$ 7,423
Coupon Interest Rate	5.00%	5.00%
Non U.S. lines of credit [Member]
Debt Instrument [Line Items]
Outstanding Balance	$ 17,423	$ 7,951
Debt Instrument, Unamortized Premium	0	0
Capitalized Fees & Expenses	(8)	(16)
Long-term debt	17,415	7,935
Non U.S. term loans [Member]
Debt Instrument [Line Items]
Outstanding Balance	42,014	53,533
Debt Instrument, Unamortized Premium	0	0
Capitalized Fees & Expenses	(182)	(148)
Long-term debt	41,832	53,385
Other long term debt [Member]
Debt Instrument [Line Items]
Outstanding Balance	5,640	6,011
Debt Instrument, Unamortized Premium	0	0
Capitalized Fees & Expenses	(19)	(19)
Long-term debt	$ 5,621	$ 5,992

LONG-TERM DEBT (Details) - Su_2

LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest	$ 15,906	$ 15,295	$ 31,204	$ 30,891
Amort. Debt Discount	(66)	(68)	(134)	(135)
Amort. Deferred Cost & Other Fees	(1,545)	(1,443)	(2,708)	(2,619)
Total Interest Expense	$ (17,517)	$ (16,806)	$ (34,046)	$ (33,645)
Senior notes due 2022 [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Effective Interest Rate	5.70%	5.70%	5.70%	5.70%
Cash Interest, including amounts capitalized	$ 13,125	$ 13,125	$ 26,250	$ 26,250
Amort. Debt Discount	(66)	(68)	(134)	(135)
Amort. Deferred Cost & Other Fees	(951)	(943)	(1,902)	(1,882)
Total Interest Expense	(14,142)	(14,136)	(28,286)	(28,267)
Revolver due 2021 [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest, including amounts capitalized	1,631	922	2,564	2,278
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	(400)	(140)	(541)	(281)
Total Interest Expense	(2,031)	(1,062)	(3,105)	(2,559)
Real estate mortgages [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest, including amounts capitalized	0	166	0	351
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	0	(303)	0	(320)
Total Interest Expense	$ 0	$ (469)	$ 0	$ (671)
ESOP Loans [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Effective Interest Rate	7.20%	4.60%	6.60%	4.30%
Cash Interest, including amounts capitalized	$ 449	$ 442	$ 937	$ 855
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	(155)	(31)	(186)	(62)
Total Interest Expense	$ (604)	$ (473)	$ (1,123)	$ (917)
Capital lease - real estate [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Effective Interest Rate	5.60%	5.50%	5.50%	10.70%
Cash Interest, including amounts capitalized	$ 101	$ 327	$ 216	$ 491
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	(6)	(7)	(12)	(13)
Total Interest Expense	(107)	(334)	(228)	(504)
Non U.S. lines of credit [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest, including amounts capitalized	4	4	11	11
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	(4)	0	(8)	(7)
Total Interest Expense	(8)	(4)	(19)	(18)
Non U.S. term loans [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest, including amounts capitalized	449	330	897	664
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	(26)	(18)	(53)	(51)
Total Interest Expense	(475)	(348)	(950)	(715)
Other long term debt [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest, including amounts capitalized	147	114	329	229
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	(3)	(1)	(6)	(3)
Total Interest Expense	(150)	(115)	(335)	(232)
Capitalized interest [Member]
LONG-TERM DEBT (Details) - Summary of Interest Expense Incurred [Line Items]
Cash Interest, Capitalized interest	0	(135)	0	(238)
Amort. Debt Discount	0	0	0	0
Amort. Deferred Cost & Other Fees	0	0	0	0
Total Interest Expense	$ 0	$ (135)	$ 0	$ (238)

LONG-TERM DEBT (Details) - Narr

LONG-TERM DEBT (Details) - Narrative $ / shares in Units, $ in Thousands	Apr. 16, 2018USD ($)$ / shares	Mar. 07, 2018$ / shares	Oct. 02, 2017USD ($)	Oct. 01, 2016USD ($)	Mar. 22, 2016USD ($)	Mar. 31, 2019AUD ($)	Mar. 31, 2019USD ($)	Jul. 31, 2018GBP (£)	Sep. 30, 2017AUD ($)	Mar. 31, 2017AUD ($)	Aug. 31, 2016USD ($)	Jul. 31, 2016USD ($)	Nov. 30, 2012CAD ($)	Mar. 31, 2019GBP (£)$ / shares	Dec. 31, 2018$ / shares	Sep. 30, 2018USD ($)$ / shares	Jun. 30, 2018$ / shares	Mar. 31, 2018$ / shares	Dec. 31, 2017$ / shares	Mar. 31, 2019USD ($)option$ / shares	Mar. 31, 2018$ / shares	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)$ / sharesshares	Mar. 31, 2019AUD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2019CAD ($)	Dec. 31, 2016AUD ($)	Jul. 31, 2016AUD ($)loan	May 18, 2016USD ($)	Mar. 31, 2016USD ($)property	Sep. 30, 2015USD ($)	Feb. 27, 2014USD ($)	Feb. 14, 2014USD ($)
Debt Instrument [Line Items]
Face amount																														$ 8,000,000	$ 32,280,000
Long-term debt																$ 1,121,082,000						$ 1,121,082,000			$ 1,217,002,000
Capitalized Fees & Expenses																$ 14,830,000						$ 14,830,000			13,025,000
Maximum percentage of equity interest of subsidiaries borrowings guaranteed																				65.00%
Long-term line of credit																									$ 16,081,000
Number of properties refinanced | property																														4
Basis spread on variable rate													1.30%
Stock issued during period, shares, employee stock ownership plan (in shares) | shares																							621,875
Shares purchased for award value																							$ 10,908,000
Weighted average purchase price of shares purchased (in dollars per share) | $ / shares																							$ 17.54
Dividends paid per common share (in dollars per share) | $ / shares		$ 1												$ 0.0725	$ 0.0725	$ 0.07	$ 0.07	$ 0.0700	$ 0.07	$ 0.145	$ 0.1400	$ 0.28
Troy, Ohio [Member]
Debt Instrument [Line Items]
Percentage bearing fixed interest, percentage rate														5.00%										5.00%	5.00%	5.00%
Ocala, Florida [Member]
Debt Instrument [Line Items]
Percentage bearing fixed interest, percentage rate														8.00%										8.00%	8.00%	8.00%
Number of option to extend | option																				2
Lease renewal term														5 years										5 years	5 years	5 years
Special Dividends [Member]
Debt Instrument [Line Items]
Dividends paid per common share (in dollars per share) | $ / shares	$ 1
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate								1.80%
Libor Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate during period					2.75%
Revolver due 2019 [Member]
Debt Instrument [Line Items]
Long-term line of credit																									$ 157,936,000
Remaining borrowing capacity																									$ 175,983,000
Revolver due 2019 [Member] | Letter Of Credit Subfacility [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity					$ 50,000,000
Revolver due 2019 [Member] | Multicurrency Subfacility [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity					$ 100,000,000
Revolver due 2019 [Member] | Margin Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate during period					1.75%
Term Loan [Member]
Debt Instrument [Line Items]
Interest rate at period end														3.10%										3.10%	3.10%	3.10%
Periodic payment terms, balloon payment to be paid | £								£ 7,000,000
Term Loan [Member] | Northcote Holdings Pty. Ltd [Member]
Debt Instrument [Line Items]
Face amount																												$ 30,000,000
Number of loans | loan																												2
Term Loan [Member] | Ames UK [Member]
Debt Instrument [Line Items]
Face amount | £								14,000,000
Debt instrument, periodic payment, principal | £								£ 350,000
Long-term Line of Credit, Noncurrent														$ 4,639,000											$ 6,087,000
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate								2.25%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate								1.50%
Interest rate at period end														2.25%										2.25%	2.25%	2.25%
Revolving Credit Facility [Member] | Ames UK [Member]
Debt Instrument [Line Items]
Face amount | £								£ 5,000,000
Term And Mortgage Loan July 2018 [Member] | Ames UK [Member]
Debt Instrument [Line Items]
Long-term debt														$ 16,698,000											$ 21,910,000
Senior Notes 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			5.25%																										5.25%			5.25%
Face amount																																$ 600,000,000
Long-term debt																$ 988,252,000						$ 988,252,000			989,977,000
Capitalized Fees & Expenses																$ 12,968,000						$ 12,968,000			$ 11,066,000
Debt instrument, interest rate, effective percentage														5.25%		5.25%						5.25%		5.25%	5.25%	5.25%
Senior Notes 2022 [Member] | Fair Value, Inputs, Level 1 [Member]
Debt Instrument [Line Items]
Convertible debt, fair value disclosures																									$ 985,770,000
Senior Notes 2022 [Member]
Debt Instrument [Line Items]
Capitalized Fees & Expenses			$ 8,472,000
Revolver due 2019 [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity																																	$ 250,000,000
Revolver Due 2020 [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity					$ 350,000,000
Real estate mortgages [Member]
Debt Instrument [Line Items]
Debt instrument, description of variable rate basis																				The loans had an interest rate of LIBOR plus 1.50%
Term Loan August 2016 [Member]
Debt Instrument [Line Items]
Face amount											$ 35,092,000
Amount of line note available to purchase common stock in open market											$ 10,908,000
Internal Loan March 2019 [Member]
Debt Instrument [Line Items]
Long-term debt																									33,556,000
Debt instrument, periodic payment, principal																				$ 569,000
Internal Loan March 2019 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate																				2.91%
ESOP Loans [Member]
Debt Instrument [Line Items]
Long-term debt																$ 34,508,000						$ 34,508,000			0
Capitalized Fees & Expenses																186,000						186,000			0
Debt instrument, periodic payment, principal				$ 569,000
Capital lease - real estate [Member]
Debt Instrument [Line Items]
Long-term debt																7,423,000						7,423,000			5,903,000
Capitalized Fees & Expenses																$ 80,000						$ 80,000			$ 68,000
Debt instrument, interest rate, effective percentage														5.00%		5.00%						5.00%		5.00%	5.00%	5.00%
Non U.S. lines of credit [Member]
Debt Instrument [Line Items]
Long-term debt																$ 7,935,000						$ 7,935,000			$ 17,415,000
Capitalized Fees & Expenses																$ 16,000						$ 16,000			8,000
Long-term line of credit																									0
Remaining borrowing capacity																									$ 11,174,000	$ 15,000
Proceeds from long-term lines of credit													$ 15,000							$ 11,174,000
Non U.S. lines of credit [Member] | Libor Rate [Member]
Debt Instrument [Line Items]
Interest rate at period end														3.79%										3.79%	3.79%	3.79%
Non U.S. lines of credit [Member] | Bankers Acceptance Rate [Member]
Debt Instrument [Line Items]
Interest rate at period end														3.14%										3.14%	3.14%	3.14%
Term Loan May 2014 [Member] | Northcote Holdings Pty. Ltd [Member]
Debt Instrument [Line Items]
Face amount																												$ 10,000,000
Debt instrument, periodic payment, principal												$ 1,250,000
Maximum borrowing capacity increase (decrease)						$ (10,000,000)			$ 15,000,000	$ 5,000,000
Term Loan December 2013 and May 2014 [Member] | Northcote Holdings Pty. Ltd [Member]
Debt Instrument [Line Items]
Long-term line of credit																								$ 28,375,000	$ 20,104,000
Basis spread on variable rate												1.90%
Debt instrument, interest rate, effective percentage														3.62%										3.62%	3.62%	3.62%
Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate														1.50%
Mortgages [Member] | Ames UK [Member]
Debt Instrument [Line Items]
Face amount | £								4,000,000
Debt instrument, periodic payment, principal | £								83,000
Interest rate at period end														2.65%										2.65%	2.65%	2.65%
Periodic payment terms, balloon payment to be paid | £								£ 2,333,000
Senior Notes 2022 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 275,000,000
Long-term debt																									$ 1,000,000,000
Unamortized Debt Issuance Expense																									11,066,000
Senior Notes due 2022, May 2016 Add-On Issuance [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Issuance price, percentage			101.00%																										98.76%
Face amount																													$ 125,000,000
Debt issuance costs, net																									13,329,000
Term Loan 1 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Repayments of Debt	$ 5,705,000
Term Loan Due 2019 [Member] | Medium-term Notes [Member]
Debt Instrument [Line Items]
Number of loans refinanced with new debt instrument | loan																												2
Periodic payment terms, balloon payment to be paid																												$ 13,375,000
Revolving Facility, June 2017 [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity																											$ 20,000	$ 10,000,000
Receivables Purchase Facility [Member]
Debt Instrument [Line Items]
Long-term debt																								$ 10,000,000	$ 7,085,000
Basis spread on variable rate												1.00%
Proceeds from long-term lines of credit							$ 10,000,000
Debt instrument, interest rate, effective percentage														2.75%										2.75%	2.75%	2.75%
Line of Credit One [Member] | Non U.S. lines of credit [Member] | Northcote Holdings Pty. Ltd [Member]
Debt Instrument [Line Items]
Long-term debt																								$ 6,000,000	$ 4,251,000
Basis spread on variable rate												1.80%
Debt instrument, interest rate, effective percentage														3.55%										3.55%	3.55%	3.55%

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details)

May 02, 2019$ / shares

Mar. 07, 2018USD ($)$ / shares

Jan. 29, 2016shares

Mar. 31, 2019USD ($)$ / sharesshares

Dec. 31, 2018USD ($)senior_executive$ / sharesshares

Sep. 30, 2018$ / shares

Jun. 30, 2018$ / shares

Mar. 31, 2018USD ($)$ / shares

Dec. 31, 2017$ / shares

Mar. 31, 2019USD ($)$ / sharesshares

Mar. 31, 2018USD ($)$ / shares

Sep. 30, 2018$ / shares

Jan. 31, 2018shares

Aug. 03, 2016USD ($)

Mar. 22, 2016USD ($)

SHAREHOLDERS' EQUITY (Details) [Line Items]

Common stock, dividends, per share, cash paid (in Dollars per share) | $ / shares

$ 1

$ 0.0725

$ 0.0725

$ 0.07

$ 0.07

$ 0.0700

$ 0.07

$ 0.145

$ 0.1400

$ 0.28

Dividends, Common Stock, Cash | $

$ 38,073,000

Share-based compensation arrangement by share-based payment award, description

Options granted under the 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.

Share-based compensation arrangement by share-based payment award, expiration period

10 years

Maximum percentage of exercise price at grand date fair value

100.00%

Stock-based compensation | $

$ 3,422,000

$ 2,365,000

$ 6,355,000

$ 4,920,000

Stock repurchase program, authorized amount | $

$ 50,000,000

Stock repurchase program, remaining authorized repurchase amount | $

$ 57,955,000

$ 57,955,000

Stock repurchased during period (in shares)

8,200

37,500

Stock repurchased during period, value | $

$ 82,000

$ 372,000

Stock repurchased during period per share (in Dollars per share) | $ / shares

$ 9.95

$ 9.92

Incentive Stock Options [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Number of shares available for grant (in Shares)

276,442

276,442

2006 Equity Incentive Plan [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Share based compensation arrangement by share based payment award equity instruments other than options additional grants in future (in Shares)

0

0

Restricted Stock and Restricted Stock Units [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Equity instruments other than options, grants in period (in Shares)

1,194,538

Performance Shares [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Award vesting period

3 years

3 years

Equity instruments other than options, grants in period (in Shares)

62,227

666,538

Equity instruments other than options, granted in period, fair value | $

$ 990,000

$ 8,105,000

Equity instruments other than options, grants in period, weighted average grant date fair value (in Dollars per share) | $ / shares

$ 12.16

$ 15.91

Restricted Stock and Performance Shares [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Equity instruments other than options, grants in period (in Shares)

528,000

Restricted Stock [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Shares paid for tax withholding for share based compensation (in Shares)

2,714

3,861

85,847

Shares paid for tax withholding for share based compensation, value | $

$ 49,000

$ 47,000

$ 1,059,000

Shares paid for tax withholding for share based compensation, value per share (in Dollars per share) | $ / shares

$ 17.90

$ 12.16

$ 12.34

Minimum [Member] | Restricted Stock [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Award vesting period

3 years

Maximum [Member] | Restricted Stock [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Award vesting period

4 years

Executive Officer [Member] | Restricted Stock [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Award vesting period

4 years

Equity instruments other than options, granted in period, fair value | $

$ 3,576,000

Equity instruments other than options, grants in period, weighted average grant date fair value (in Dollars per share) | $ / shares

$ 6.77

Number of persons granted shares | senior_executive

2

Award post-vesting holding period

2 years

Executive Officer [Member] | Minimum [Member] | Restricted Stock [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Awards vested in period (in shares)

384,000

Executive Officer [Member] | Maximum [Member] | Restricted Stock [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Awards vested in period (in shares)

528,000

Subsequent Event [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Dividends declared, amount per share (in Dollars per share) | $ / shares

$ 0.0725

Incentive Plan [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Number of shares authorized for award (in Shares)

3,350,000

1,000,000

New shares issued (in Shares)

600,000

Revolver Due 2020 [Member]

SHAREHOLDERS' EQUITY (Details) [Line Items]

Line of credit facility, current borrowing capacity | $

$ 350,000,000

EARNINGS PER SHARE (EPS) (Deta

EARNINGS PER SHARE (EPS) (Details) - Summary of Reconciliation of Share Amounts Used in Earnings Per Share - shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Weighted average shares outstanding - basic	40,949	41,477	40,849	41,700
Incremental shares from stock based compensation	1,883	1,288	1,527	1,362
Weighted average shares outstanding - diluted	42,832	42,765	42,376	43,062

BUSINESS SEGMENTS - Revenues (D

BUSINESS SEGMENTS - Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 549,633	$ 478,560	$ 1,060,155	$ 915,863
Ames True Temper Inc [Member]
Segment Reporting Information [Line Items]
Revenue	287,732	258,196	504,206	474,938
Clopay Building Products [Member]
Segment Reporting Information [Line Items]
Revenue	186,799	138,112	410,094	292,348
Home And Building Products [Member]
Segment Reporting Information [Line Items]
Revenue	474,531	396,308	914,300	767,286
Telephonics [Member]
Segment Reporting Information [Line Items]
Revenue	$ 75,102	$ 82,252	$ 145,855	$ 148,577

BUSINESS SEGMENTS - Disaggregat

BUSINESS SEGMENTS - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 549,633	$ 478,560	$ 1,060,155	$ 915,863
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	431,569		832,607
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	28,862		47,055
Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue	28,886		61,862
Australia [Member]
Disaggregation of Revenue [Line Items]
Revenue	42,995		87,826
All Other Countries [Member]
Disaggregation of Revenue [Line Items]
Revenue	17,321		30,805
Home And Building Products [Member]
Disaggregation of Revenue [Line Items]
Revenue	474,531	396,308	914,300	767,286
Home And Building Products [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	380,390		733,133
Home And Building Products [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	20,372		28,254
Home And Building Products [Member] | Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue	25,828		56,175
Home And Building Products [Member] | Australia [Member]
Disaggregation of Revenue [Line Items]
Revenue	42,016		86,238
Home And Building Products [Member] | All Other Countries [Member]
Disaggregation of Revenue [Line Items]
Revenue	5,925		10,500
Home And Building Products [Member] | Residential Repair and Remodel [Member]
Disaggregation of Revenue [Line Items]
Revenue	128,711		269,236
Home And Building Products [Member] | Retail [Member]
Disaggregation of Revenue [Line Items]
Revenue	162,576		275,941
Home And Building Products [Member] | Commercial Construction [Member]
Disaggregation of Revenue [Line Items]
Revenue	76,181		160,557
Home And Building Products [Member] | Residential New Construction [Member]
Disaggregation of Revenue [Line Items]
Revenue	33,892		73,716
Home And Building Products [Member] | Industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue	11,416		21,174
Home And Building Products [Member] | International Excluding North America [Member]
Disaggregation of Revenue [Line Items]
Revenue	61,755		113,676
Telephonics [Member]
Disaggregation of Revenue [Line Items]
Revenue	75,102	$ 82,252	145,855	$ 148,577
Telephonics [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	51,179		99,474
Telephonics [Member] | Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,490		18,801
Telephonics [Member] | Canada [Member]
Disaggregation of Revenue [Line Items]
Revenue	3,058		5,687
Telephonics [Member] | Australia [Member]
Disaggregation of Revenue [Line Items]
Revenue	979		1,588
Telephonics [Member] | All Other Countries [Member]
Disaggregation of Revenue [Line Items]
Revenue	11,396		20,305
Telephonics [Member] | United States Government [Member]
Disaggregation of Revenue [Line Items]
Revenue	46,376		91,936
Telephonics [Member] | International [Member]
Disaggregation of Revenue [Line Items]
Revenue	23,129		45,228
Telephonics [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 5,597		$ 8,691

BUSINESS SEGMENTS - Income Befo

BUSINESS SEGMENTS - Income Before Taxes From Continuing Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Segment operating profit:		$ 25,721	$ 16,886	$ 55,013	$ 31,041
Net interest expense		(17,305)	(16,044)	(33,636)	(32,686)
Unallocated amounts		(11,347)	(10,541)	(22,745)	(20,977)
Acquisition costs		0
Cost of life insurance benefit	$ (13,715)
Income before taxes from continuing operations		9,684	3,188	23,649	1,115
Postretirement Life Insurance [Member] | Continuing Operations [Member]
Segment Reporting Information [Line Items]
Segment operating profit from continuing operations		38,336	29,780	80,030	59,011
Net interest expense		(17,305)	(16,044)	(33,636)	(32,686)
Unallocated amounts		(11,347)	(10,541)	(22,745)	(20,977)
Acquisition costs		0	(7)	0	(1,619)
Cost of life insurance benefit		0	0	0	(2,614)
Income before taxes from continuing operations		9,684	3,188	23,649	1,115
Postretirement Life Insurance [Member] | Continuing Operations [Member] | Home And Building Products [Member]
Segment Reporting Information [Line Items]
Segment operating profit:		36,021	28,478	75,566	56,229
Postretirement Life Insurance [Member] | Continuing Operations [Member] | Telephonics [Member]
Segment Reporting Information [Line Items]
Segment operating profit:		$ 2,315	$ 1,302	$ 4,464	$ 2,782

BUSINESS SEGMENTS - Segment EBI

BUSINESS SEGMENTS - Segment EBITDA (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Segment adjusted EBITDA		$ 53,689	$ 43,786	$ 110,334	$ 87,442
Net interest expense		(17,305)	(16,044)	(33,636)	(32,686)
Segment depreciation and amortization		(15,492)	(13,313)	(30,577)	(26,271)
Unallocated amounts		(11,347)	(10,541)	(22,745)	(20,977)
Acquisition costs		0	(814)	0	(3,999)
Cost of life insurance benefit	$ (13,715)
Income (loss) before taxes from continuing operations		9,684	3,188	23,649	1,115
Home And Building Products [Member]
Segment Reporting Information [Line Items]
Segment adjusted EBITDA		48,753	39,789	100,613	79,246
Segment depreciation and amortization		(12,732)	(10,504)	(25,047)	(20,637)
Telephonics [Member]
Segment Reporting Information [Line Items]
Segment adjusted EBITDA		4,936	3,997	9,721	8,196
Segment depreciation and amortization		(2,621)	(2,695)	(5,257)	(5,414)
Continuing Operations [Member] | Postretirement Life Insurance [Member]
Segment Reporting Information [Line Items]
Net interest expense		(17,305)	(16,044)	(33,636)	(32,686)
Unallocated amounts		(11,347)	(10,541)	(22,745)	(20,977)
Cost of life insurance benefit		0	0	0	(2,614)
Income (loss) before taxes from continuing operations		9,684	3,188	23,649	1,115
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment depreciation and amortization		$ (15,353)	$ (13,199)	$ (30,304)	$ (26,051)

BUSINESS SEGMENTS - Depreciatio

BUSINESS SEGMENTS - Depreciation, Amortization And Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Segment depreciation and amortization	$ 15,492	$ 13,313	$ 30,577	$ 26,271
CAPITAL EXPENDITURES	9,021	10,843	17,418	21,628
Home And Building Products [Member]
Segment Reporting Information [Line Items]
Segment depreciation and amortization	12,732	10,504	25,047	20,637
CAPITAL EXPENDITURES	6,330	8,192	13,475	14,850
Telephonics [Member]
Segment Reporting Information [Line Items]
Segment depreciation and amortization	2,621	2,695	5,257	5,414
CAPITAL EXPENDITURES	2,499	2,442	3,733	4,385
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment depreciation and amortization	15,353	13,199	30,304	26,051
CAPITAL EXPENDITURES	8,829	10,634	17,208	19,235
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Segment depreciation and amortization	139	114	273	220
CAPITAL EXPENDITURES	$ 192	$ 209	$ 210	$ 2,393

BUSINESS SEGMENTS - Summary of

BUSINESS SEGMENTS - Summary of Segment Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Oct. 01, 2018	Sep. 30, 2018
Segment assets:
Continuing Assets	$ 2,140,683		$ 2,081,650
Assets of discontinued operations	3,225		3,240
Total Assets	2,143,908	$ 2,085,933	2,084,890
Home And Building Products [Member]
Segment assets:
Continuing Assets	1,729,199		1,631,631
Telephonics [Member]
Segment assets:
Continuing Assets	325,179		346,907
Operating Segments [Member]
Segment assets:
Continuing Assets	2,054,378		1,978,538
Corporate, Non-Segment [Member]
Segment assets:
Continuing Assets	$ 86,305		$ 103,112

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		$ 111,783	$ 104,493	$ 225,537	$ 211,117
Other, net		1,268	2,346	2,272	2,760
Interest cost		1,571	1,407	3,141	2,814
Expected return on plan assets		(2,583)	(2,639)	(5,166)	(5,278)
Amortization:
Prior service cost		3	4	7	8
Recognized actuarial loss		222	346	444	692
Net periodic expense (income)		$ (787)	(882)	$ (1,574)	(1,764)
Pension settlement gain	$ 13,715
Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses			882		1,764
Other, net			$ (882)		$ (1,764)

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Details) $ in Thousands	Oct. 01, 2018USD ($)	[1]
Accounting Standards Update 2014-09 (ASC 606) [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment for new accounting pronouncement	$ 5,673
Retained Earnings [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment for new accounting pronouncement	5,673
Retained Earnings [Member] | Accounting Standards Update 2014-09 (ASC 606) [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment for new accounting pronouncement	$ 5,673
[1]	See Note 14 - Recent Accounting Pronouncements and Note 3 - Revenue for additional information.

DISCONTINUED OPERATIONS - Balan

DISCONTINUED OPERATIONS - Balance Sheets Information (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Assets of discontinued operations:
Total assets of discontinued operations	$ 3,225	$ 3,240
PPC and Installation Services and other discontinued activities | Discontinued Operations [Member]
Assets of discontinued operations:
Prepaid and other current assets	324	324
Other long-term assets	2,901	2,916
Total assets of discontinued operations	3,225	3,240
Liabilities of discontinued operations:
Accrued liabilities, current	11,657	7,210
Other long-term liabilities	2,307	2,647
Total liabilities of discontinued operations	$ 13,964	$ 9,857

DISCONTINUED OPERATIONS - Incom

DISCONTINUED OPERATIONS - Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations	$ (7,646)	$ 88,329	$ (7,646)	$ 96,487
PPC [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		45,832		166,262
Cost of goods and services		36,157		132,100
Gross profit		9,675		34,162
Selling, general and administrative expenses		13,995		26,103
Income from discontinued operations		(4,320)		8,059
Gain on sale of business		117,625		117,625
Interest expense, net		(95)		(155)
Other, net		166		(687)
Total other income (expense)		117,696		116,783
Income (loss) from discontinued operations		$ 113,376		$ 124,842

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Feb. 06, 2018	Sep. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from operations of discontinued operations	$ (11,000,000)	$ 113,376,000	$ (11,000,000)	$ 124,842,000
Income (loss) from discontinued operations	(7,646,000)	88,329,000	(7,646,000)	96,487,000
PPC and Installation Services and other discontinued activities | Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Liabilities held for sale	$ 13,964,000		13,964,000
PPC [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations		113,376,000		124,842,000
Disposal group, including discontinued operation, consideration					$ 465,000,000
Gain on sale of business		117,625,000		117,625,000
Gain on sale of business net of tax		86,357,000
Revenue		$ 45,832,000		166,262,000
Installation Services [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue			$ 0	$ 0
Clopay Services Corporation [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Environmental exit costs, costs accrued to date						$ 5,700,000

OTHER EXPENSE (Details)

OTHER EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Other Income and Expenses [Abstract]
Foreign currency transaction gain (loss), before tax	$ (118)	$ 217	$ 384	$ (219)
Investment income, net	108	1,266	31	1,261
Net periodic benefit income	$ 787	$ 882	$ 1,574	$ 1,764

WARRANTY LIABILITY (Details)

WARRANTY LIABILITY (Details)	6 Months Ended
	Mar. 31, 2019
Telephonics [Member] | Minimum [Member]
WARRANTY LIABILITY (Details) [Line Items]
Product warranty period	1 year
Telephonics [Member] | Maximum [Member]
WARRANTY LIABILITY (Details) [Line Items]
Product warranty period	2 years
Clopay Building Products [Member] | Minimum [Member]
WARRANTY LIABILITY (Details) [Line Items]
Product warranty period	1 year
Clopay Building Products [Member] | Maximum [Member]
WARRANTY LIABILITY (Details) [Line Items]
Product warranty period	10 years
Ames True Temper Inc [Member]
WARRANTY LIABILITY (Details) [Line Items]
Product warranty period	90 days

WARRANTY LIABILITY (Details) -

WARRANTY LIABILITY (Details) - Summary of Changes in Warrant Liability Included in Accrued Liabilities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance, beginning of period	$ 9,041	$ 6,055	$ 8,174	$ 6,236
Warranties issued and changes in estimated pre-existing warranties	4,700	1,637	8,761	3,112
Actual warranty costs incurred	(5,730)	(1,434)	(8,924)	(3,926)
Other warranty liabilities assumed from acquisitions	0	0	0	836
Balance, end of period	$ 8,011	$ 6,258	$ 8,011	$ 6,258

OTHER COMPREHENSIVE INCOME (L_3

OTHER COMPREHENSIVE INCOME (LOSS) (Details) - Summary of Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
Other Comprehensive Income (Loss), before Tax [Abstract]
Foreign currency translation adjustments	$ 2,885		$ 19,714		$ (2,851)	$ 18,425
Pension and other defined benefit plans	201		376		472	14,620
Cash flow hedges	(264)		616		(107)	746
Total other comprehensive income (loss)	2,822		20,706		(2,486)	33,791
Other Comprehensive Income (Loss), Tax [Abstract]
Pension and other defined benefit plans	(17)		(129)		(104)	(4,814)
Cash flow hedges	75		(176)		20	(218)
Total other comprehensive income (loss)	58		(305)		(84)	(5,032)
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	2,885		19,714		(2,851)	18,425
Pension and other defined benefit plans	184		247		368	9,806
Cash flow hedges	(189)		440		(87)	528
Total other comprehensive income (loss), net of taxes	$ 2,880	$ (5,450)	$ 20,401	$ 8,358	$ (2,570)	$ 28,759

OTHER COMPREHENSIVE INCOME (L_4

OTHER COMPREHENSIVE INCOME (LOSS)-AOCI (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Sep. 30, 2018
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ (36,682)	$ (34,112)
Foreign currency translation adjustments [Member]
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(25,675)	(22,824)
Pension and other defined benefit plans [Member]
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	(11,391)	(11,759)
Gain on cash flow hedge [Member]
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ 384	$ 471

OTHER COMPREHENSIVE INCOME (L_5

OTHER COMPREHENSIVE INCOME (LOSS) (Details) - Summary of Amounts Reclassified from Accumulated Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
OCI, Net of Tax [Abstract]
Pension amortization	$ (225)	$ (350)	$ (451)	$ (700)
Cash flow hedges	310	(34)	992	(40)
Removal of PPC foreign currency translation	0	14,866	0	14,866
Total gain (loss)	85	14,482	541	14,126
Tax benefit (expense)	(18)	(3,357)	(114)	(3,400)
Total	$ 67	$ 11,125	$ 427	$ 10,726

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Feb. 28, 2011	Apr. 30, 2009
Commitments and Contingencies Disclosure [Abstract]
Net capital cost value		$ 5,000,000
Obligation under consent order	$ 0
Net capital cost value in proposed remedial action plan	$ 10,000,000

CONSOLIDATING GUARANTOR AND N_3

CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Details)	6 Months Ended
	Mar. 31, 2019
Consolidating Guarantor And Non Guarantor Financial Information [Abstract]
Noncontrolling interest, ownership percentage by parent	100.00%
Maximum percentage of segment adjusted EBITDA to business EBITDA	50.00%

CONSOLIDATING GUARANTOR AND N_4

CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Details) - Summary of Condensed Consolidating Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Oct. 01, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017
CURRENT ASSETS
Cash and equivalents	$ 57,979			$ 69,758	$ 236,456		$ 47,681
Accounts receivable, net of allowances	344,049			280,509
Contract costs and recognized income not yet billed, net of progress payments	83,904		$ 100,821	121,803
Inventories	457,071		420,384	398,359
Prepaid and other current assets	45,778			42,121
Assets of discontinued operations	324			324
Total Current Assets	989,105		913,917	912,874
PROPERTY, PLANT AND EQUIPMENT, net	332,852			342,492
GOODWILL	439,118			439,395
INTANGIBLE ASSETS, net	364,740			370,858
INTERCOMPANY RECEIVABLE	0			0
EQUITY INVESTMENTS IN SUBSIDIARIES	0			0
OTHER ASSETS	15,192			16,355
ASSETS OF DISCONTINUED OPERATIONS	2,901			2,916
Total Assets	2,143,908		2,085,933	2,084,890
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	10,807			13,011
Accounts payable and accrued liabilities	343,720			372,850
Liabilities of discontinued operations	11,657			7,210
Total Current Liabilities	366,184		401,353	393,071
LONG-TERM DEBT, net of debt discounts	1,206,195			1,108,071
INTERCOMPANY PAYABLES	0			0
OTHER LIABILITIES	94,938		105,144	106,710
LIABILITIES OF DISCONTINUED OPERATIONS	2,307			2,647
Total Liabilities	1,669,624		1,617,215	1,610,499
Total Shareholders’ Equity	474,284	$ 471,561	468,718	474,391	474,018	$ 434,813	398,808
Total Liabilities and Shareholders’ Equity	2,143,908		$ 2,085,933	2,084,890
Parent Company [Member]
CURRENT ASSETS
Cash and equivalents	5,067			15,976	177,429		3,240
Accounts receivable, net of allowances	0			0
Contract costs and recognized income not yet billed, net of progress payments	0			0
Inventories	0			0
Prepaid and other current assets	17,735			12,179
Assets of discontinued operations	0			0
Total Current Assets	22,802			28,155
PROPERTY, PLANT AND EQUIPMENT, net	1,005			936
GOODWILL	0			6,646
INTANGIBLE ASSETS, net	93			93
INTERCOMPANY RECEIVABLE	122,555			56,396
EQUITY INVESTMENTS IN SUBSIDIARIES	1,552,035			1,528,932
OTHER ASSETS	7,180			8,651
ASSETS OF DISCONTINUED OPERATIONS	0			0
Total Assets	1,705,670			1,629,809
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	0			2,276
Accounts payable and accrued liabilities	17,409			26,639
Liabilities of discontinued operations	0			0
Total Current Liabilities	17,409			28,915
LONG-TERM DEBT, net of debt discounts	1,146,231			1,044,071
INTERCOMPANY PAYABLES	56,415			66,058
OTHER LIABILITIES	11,331			16,374
LIABILITIES OF DISCONTINUED OPERATIONS	0			0
Total Liabilities	1,231,386			1,155,418
Total Shareholders’ Equity	474,284			474,391
Total Liabilities and Shareholders’ Equity	1,705,670			1,629,809
Guarantor Companies [Member]
CURRENT ASSETS
Cash and equivalents	31,858			16,353	22,937		8,066
Accounts receivable, net of allowances	288,362			234,885
Contract costs and recognized income not yet billed, net of progress payments	82,811			121,393
Inventories	389,223			332,067
Prepaid and other current assets	19,910			21,313
Assets of discontinued operations	0			0
Total Current Assets	812,164			726,011
PROPERTY, PLANT AND EQUIPMENT, net	291,449			299,920
GOODWILL	394,056			361,507
INTANGIBLE ASSETS, net	278,055			293,093
INTERCOMPANY RECEIVABLE	679,010			314,394
EQUITY INVESTMENTS IN SUBSIDIARIES	512,201			968,330
OTHER ASSETS	16,774			15,942
ASSETS OF DISCONTINUED OPERATIONS	0			0
Total Assets	2,983,709			2,979,197
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	3,495			3,398
Accounts payable and accrued liabilities	292,428			303,154
Liabilities of discontinued operations	0			(22,327)
Total Current Liabilities	295,923			284,225
LONG-TERM DEBT, net of debt discounts	4,378			6,110
INTERCOMPANY PAYABLES	381,703			(77,760)
OTHER LIABILITIES	69,856			73,391
LIABILITIES OF DISCONTINUED OPERATIONS	0			0
Total Liabilities	751,860			285,966
Total Shareholders’ Equity	2,231,849			2,693,231
Total Liabilities and Shareholders’ Equity	2,983,709			2,979,197
Non-Guarantor Companies [Member]
CURRENT ASSETS
Cash and equivalents	21,054			37,429	36,090		36,375
Accounts receivable, net of allowances	55,687			69,729
Contract costs and recognized income not yet billed, net of progress payments	1,093			410
Inventories	67,835			66,373
Prepaid and other current assets	5,761			6,168
Assets of discontinued operations	324			324
Total Current Assets	151,754			180,433
PROPERTY, PLANT AND EQUIPMENT, net	40,398			41,636
GOODWILL	45,062			71,242
INTANGIBLE ASSETS, net	86,592			77,672
INTERCOMPANY RECEIVABLE	66,931			(121,445)
EQUITY INVESTMENTS IN SUBSIDIARIES	3,045,503			3,347,894
OTHER ASSETS	(2,079)			374
ASSETS OF DISCONTINUED OPERATIONS	2,901			2,916
Total Assets	3,437,062			3,600,722
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	7,312			7,337
Accounts payable and accrued liabilities	31,439			59,531
Liabilities of discontinued operations	11,657			29,537
Total Current Liabilities	50,408			96,405
LONG-TERM DEBT, net of debt discounts	55,586			57,890
INTERCOMPANY PAYABLES	421,184			263,227
OTHER LIABILITIES	17,401			20,592
LIABILITIES OF DISCONTINUED OPERATIONS	2,307			2,647
Total Liabilities	546,886			440,761
Total Shareholders’ Equity	2,890,176			3,159,961
Total Liabilities and Shareholders’ Equity	3,437,062			3,600,722
Elimination [Member]
CURRENT ASSETS
Cash and equivalents	0			0	$ 0		$ 0
Accounts receivable, net of allowances	0			(24,105)
Contract costs and recognized income not yet billed, net of progress payments	0			0
Inventories	13			(81)
Prepaid and other current assets	2,372			2,461
Assets of discontinued operations	0			0
Total Current Assets	2,385			(21,725)
PROPERTY, PLANT AND EQUIPMENT, net	0			0
GOODWILL	0			0
INTANGIBLE ASSETS, net	0			0
INTERCOMPANY RECEIVABLE	(868,496)			(249,345)
EQUITY INVESTMENTS IN SUBSIDIARIES	(5,109,739)			(5,845,156)
OTHER ASSETS	(6,683)			(8,612)
ASSETS OF DISCONTINUED OPERATIONS	0			0
Total Assets	(5,982,533)			(6,124,838)
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	0			0
Accounts payable and accrued liabilities	2,444			(16,474)
Liabilities of discontinued operations	0			0
Total Current Liabilities	2,444			(16,474)
LONG-TERM DEBT, net of debt discounts	0			0
INTERCOMPANY PAYABLES	(859,302)			(251,525)
OTHER LIABILITIES	(3,650)			(3,647)
LIABILITIES OF DISCONTINUED OPERATIONS	0			0
Total Liabilities	(860,508)			(271,646)
Total Shareholders’ Equity	(5,122,025)			(5,853,192)
Total Liabilities and Shareholders’ Equity	$ (5,982,533)			$ (6,124,838)

CONSOLIDATING GUARANTOR AND N_5

CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Details) - Summary of Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
Condensed Income Statements, Captions [Line Items]
Revenue	$ 549,633		$ 478,560		$ 1,060,155	$ 915,863
Cost of goods and services	412,129		357,181		779,605	673,705
Gross profit	137,504		121,379		280,550	242,158
Selling, general and administrative expenses	111,783		104,493		225,537	211,117
Income from operations	25,721		16,886		55,013	31,041
Other income (expense)
Interest income (expense), net	(17,305)		(16,044)		(33,636)	(32,686)
Other, net	1,268		2,346		2,272	2,760
Total other expense, net	(16,037)		(13,698)		(31,364)	(29,926)
Income before taxes from continuing operations	9,684		3,188		23,649	1,115
Provision (benefit) for income taxes	3,194		1,237		8,406	(23,667)
Income (loss) before equity in net income of subsidiaries	6,490		1,951		15,243	24,782
Equity in net income (loss) of subsidiaries	0		0		0	0
Income from continuing operations	6,490		1,951		15,243	24,782
Income (loss) from operations of discontinued operations	(11,000)		113,376		(11,000)	124,842
Provision (benefit) for income taxes	(3,354)		25,047		(3,354)	28,355
Income (loss) from discontinued operations	(7,646)		88,329		(7,646)	96,487
Net income (loss)	(1,156)	$ 8,753	90,280	$ 30,989	7,597	121,269
Comprehensive income, net	1,724		110,681		5,027	150,028
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Revenue	0		0		0	0
Cost of goods and services	0		0		0	0
Gross profit	0		0		0	0
Selling, general and administrative expenses	5,249		5,438		10,309	16,775
Income from operations	(5,249)		(5,438)		(10,309)	(16,775)
Other income (expense)
Interest income (expense), net	(7,328)		(5,961)		(13,635)	(12,735)
Other, net	(473)		697		(735)	692
Total other expense, net	(7,801)		(5,264)		(14,370)	(12,043)
Income before taxes from continuing operations	(13,050)		(10,702)		(24,679)	(28,818)
Provision (benefit) for income taxes	(4,242)		(10,168)		(7,777)	(39,860)
Income (loss) before equity in net income of subsidiaries	(8,808)		(534)		(16,902)	11,042
Equity in net income (loss) of subsidiaries	7,652		90,814		24,499	110,227
Income from continuing operations	(1,156)		90,280		7,597	121,269
Income (loss) from operations of discontinued operations	0		0		0	0
Provision (benefit) for income taxes	0		0		0	0
Income (loss) from discontinued operations	0		0		0	0
Net income (loss)	(1,156)		90,280		7,597	121,269
Comprehensive income, net	1,724		110,681		5,027	150,028
Guarantor Companies [Member]
Condensed Income Statements, Captions [Line Items]
Revenue	462,739		397,759		881,983	749,071
Cost of goods and services	354,382		305,919		663,479	568,559
Gross profit	108,357		91,840		218,504	180,512
Selling, general and administrative expenses	84,813		65,871		169,789	141,201
Income from operations	23,544		25,969		48,715	39,311
Other income (expense)
Interest income (expense), net	(9,128)		(8,013)		(18,258)	(14,215)
Other, net	1,129		12,149		1,816	13,353
Total other expense, net	(7,999)		4,136		(16,442)	(862)
Income before taxes from continuing operations	15,545		30,105		32,273	38,449
Provision (benefit) for income taxes	5,292		(10,037)		11,266	(7,302)
Income (loss) before equity in net income of subsidiaries	10,253		40,142		21,007	45,751
Equity in net income (loss) of subsidiaries	11,646		(59,707)		17,696	(60,359)
Income from continuing operations	21,899		(19,565)		38,703	(14,608)
Income (loss) from operations of discontinued operations	0		(8,423)		0	(2,003)
Provision (benefit) for income taxes	0		859		0	2,918
Income (loss) from discontinued operations	0		(9,282)		0	(4,921)
Net income (loss)	21,899		(28,847)		38,703	(19,529)
Comprehensive income, net	5,448		1,444		59,017	24,212
Non-Guarantor Companies [Member]
Condensed Income Statements, Captions [Line Items]
Revenue	94,285		89,910		192,525	182,429
Cost of goods and services	65,516		60,627		131,218	121,406
Gross profit	28,769		29,283		61,307	61,023
Selling, general and administrative expenses	21,409		33,277		45,226	53,326
Income from operations	7,360		(3,994)		16,081	7,697
Other income (expense)
Interest income (expense), net	(849)		(2,070)		(1,743)	(5,736)
Other, net	676		(10,038)		1,717	(10,361)
Total other expense, net	(173)		(12,108)		(26)	(16,097)
Income before taxes from continuing operations	7,187		(16,102)		16,055	(8,400)
Provision (benefit) for income taxes	2,142		(6,202)		4,917	(4,146)
Income (loss) before equity in net income of subsidiaries	5,045		(9,900)		11,138	(4,254)
Equity in net income (loss) of subsidiaries	10,253		40,140		21,007	45,751
Income from continuing operations	15,298		30,240		32,145	41,497
Income (loss) from operations of discontinued operations	(11,000)		121,799		(11,000)	126,845
Provision (benefit) for income taxes	(3,354)		24,188		(3,354)	25,437
Income (loss) from discontinued operations	(7,646)		97,611		(7,646)	101,408
Net income (loss)	7,652		127,851		24,499	142,905
Comprehensive income, net	8,736		123,670		4,185	171,118
Elimination [Member]
Condensed Income Statements, Captions [Line Items]
Revenue	(7,391)		(9,109)		(14,353)	(15,637)
Cost of goods and services	(7,769)		(9,365)		(15,092)	(16,260)
Gross profit	378		256		739	623
Selling, general and administrative expenses	312		(93)		213	(185)
Income from operations	66		349		526	808
Other income (expense)
Interest income (expense), net	0		0		0	0
Other, net	(64)		(462)		(526)	(924)
Total other expense, net	(64)		(462)		(526)	(924)
Income before taxes from continuing operations	2		(113)		0	(116)
Provision (benefit) for income taxes	2		27,644		0	27,641
Income (loss) before equity in net income of subsidiaries	0		(27,757)		0	(27,757)
Equity in net income (loss) of subsidiaries	(29,551)		(71,247)		(63,202)	(95,619)
Income from continuing operations	(29,551)		(99,004)		(63,202)	(123,376)
Income (loss) from operations of discontinued operations	0		0		0	0
Provision (benefit) for income taxes	0		0		0	0
Income (loss) from discontinued operations	0		0		0	0
Net income (loss)	(29,551)		(99,004)		(63,202)	(123,376)
Comprehensive income, net	$ (14,184)		$ (125,114)		$ (63,202)	$ (195,330)

CONSOLIDATING GUARANTOR AND N_6

CONSOLIDATING GUARANTOR AND NON-GUARANTOR FINANCIAL INFORMATION (Details) - Summary of Condensed Consolidating Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ (1,156)	$ 8,753	$ 90,280	$ 30,989	$ 7,597	$ 121,269
Net (income) loss from discontinued operations	7,646		(88,329)		7,646	(96,487)
Net cash provided by (used in) operating activities					(55,006)	(47,100)
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment	(9,021)		(10,843)		(17,418)	(21,628)
Acquired businesses, net of cash acquired					(9,219)	(246,230)
Investment purchase					(149)	0
Proceeds from sale of business					0	473,977
Insurance proceeds (payments)					(10,604)	8,254
Proceeds from sale of assets					62	454
Net cash provided by (used in) investing activities - continuing operations					(37,328)	214,827
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Purchase of shares for treasury					(1,478)	(32,861)
Proceeds from long-term debt					143,101	347,898
Payments of long-term debt					(48,169)	(229,941)
Financing costs					(945)	(7,451)
Contingent consideration for acquired businesses					(1,686)	0
Dividends paid					(6,847)	(5,872)
Other, net					83	126
Net cash provided by financing activities - continuing operations					84,059	71,899
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations					(3,438)	(48,383)
Effect of exchange rate changes on cash and equivalents					(66)	(2,468)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS					(11,779)	188,775
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		69,758		47,681	69,758	47,681
CASH AND EQUIVALENTS AT END OF PERIOD	57,979		236,456		57,979	236,456
Parent Company [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	(1,156)		90,280		7,597	121,269
Net (income) loss from discontinued operations	0		0		0	0
Net cash provided by (used in) operating activities					(77,881)	275,619
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment					(210)	(331)
Acquired businesses, net of cash acquired					(9,219)	(185,729)
Investment purchase					(149)
Proceeds from sale of business						0
Insurance proceeds (payments)					(10,604)	8,254
Proceeds from sale of assets					0	0
Net cash provided by (used in) investing activities - continuing operations					(20,182)	(177,806)
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Purchase of shares for treasury					(1,478)	(32,861)
Proceeds from long-term debt					130,484	342,161
Payments of long-term debt					(32,419)	(197,322)
Financing costs					(945)	(7,451)
Contingent consideration for acquired businesses					0
Dividends paid					(6,847)	(5,872)
Other, net					(1,641)	(22,279)
Net cash provided by financing activities - continuing operations					87,154	76,376
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations					0	0
Effect of exchange rate changes on cash and equivalents					0	0
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS					(10,909)	174,189
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		15,976		3,240	15,976	3,240
CASH AND EQUIVALENTS AT END OF PERIOD	5,067		177,429		5,067	177,429
Guarantor Companies [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	21,899		(28,847)		38,703	(19,529)
Net (income) loss from discontinued operations	0		9,282		0	4,921
Net cash provided by (used in) operating activities					24,130	(360,855)
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment					(14,071)	(16,208)
Acquired businesses, net of cash acquired					0	(5,076)
Investment purchase					0
Proceeds from sale of business						473,977
Insurance proceeds (payments)					0	0
Proceeds from sale of assets					36	21
Net cash provided by (used in) investing activities - continuing operations					(14,035)	452,714
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Purchase of shares for treasury					0	0
Proceeds from long-term debt					76	2,195
Payments of long-term debt					(1,724)	(1,613)
Financing costs					0	0
Contingent consideration for acquired businesses					0
Dividends paid					0	0
Other, net					7,150	(40,668)
Net cash provided by financing activities - continuing operations					5,502	(40,086)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations					0	(36,875)
Effect of exchange rate changes on cash and equivalents					(92)	(27)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS					15,505	14,871
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		16,353		8,066	16,353	8,066
CASH AND EQUIVALENTS AT END OF PERIOD	31,858		22,937		31,858	22,937
Non-Guarantor Companies [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	7,652		127,851		24,499	142,905
Net (income) loss from discontinued operations	7,646		(97,611)		7,646	(101,408)
Net cash provided by (used in) operating activities					(1,255)	38,136
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment					(3,137)	(5,089)
Acquired businesses, net of cash acquired					0	(55,425)
Investment purchase					0
Proceeds from sale of business						0
Insurance proceeds (payments)					0	0
Proceeds from sale of assets					26	433
Net cash provided by (used in) investing activities - continuing operations					(3,111)	(60,081)
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Purchase of shares for treasury					0	0
Proceeds from long-term debt					12,541	3,542
Payments of long-term debt					(14,026)	(31,006)
Financing costs					0	0
Contingent consideration for acquired businesses					(1,686)
Dividends paid					0	0
Other, net					(5,426)	63,073
Net cash provided by financing activities - continuing operations					(8,597)	35,609
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations					(3,438)	(11,508)
Effect of exchange rate changes on cash and equivalents					26	(2,441)
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS					(16,375)	(285)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		37,429		36,375	37,429	36,375
CASH AND EQUIVALENTS AT END OF PERIOD	21,054		36,090		21,054	36,090
Elimination [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	(29,551)		(99,004)		(63,202)	(123,376)
Net (income) loss from discontinued operations	0		0		0	0
Net cash provided by (used in) operating activities					0	0
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment					0	0
Acquired businesses, net of cash acquired					0	0
Investment purchase					0
Proceeds from sale of business						0
Insurance proceeds (payments)					0	0
Proceeds from sale of assets					0	0
Net cash provided by (used in) investing activities - continuing operations					0	0
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Purchase of shares for treasury					0	0
Proceeds from long-term debt					0	0
Payments of long-term debt					0	0
Financing costs					0	0
Contingent consideration for acquired businesses					0
Dividends paid					0	0
Other, net					0	0
Net cash provided by financing activities - continuing operations					0	0
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash used in discontinued operations					0	0
Effect of exchange rate changes on cash and equivalents					0	0
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS					0	0
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		$ 0		$ 0	0	0
CASH AND EQUIVALENTS AT END OF PERIOD	$ 0		$ 0		$ 0	$ 0