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BUSINESS SEGMENTS (Tables) | 9 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Summary of Reportable Segments from Continuing Operations | Information on Griffon’s reportable segments from continuing operations is as follows:
| For the Three Months Ended June 30, |  | For the Nine Months Ended June 30,
REVENUE | 2020 |  | 2019 |  | 2020 |  | 2019
Consumer and Professional Products | $ | 328,929 |  |  | $ | 273,710 |  |  | $ | 844,917 |  |  | $ | 777,916 |
Home and Building Products | 219,164 |  |  | 221,521 |  |  | 670,374 |  |  | 631,615 |
Defense Electronics | 83,968 |  |  | 79,739 |  |  | 231,558 |  |  | 225,594 |
Total consolidated net sales | $ | 632,061 |  |  | $ | 574,970 |  |  | $ | 1,746,849 |  |  | $ | 1,635,125 |
The following table provides a reconciliation of Segment adjusted EBITDA to Income before taxes from continuing operations:
| For the Three Months Ended June 30, |  | For the Nine Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Segment adjusted EBITDA: |  |  |  |  |  |  |  |  |  |  |
Consumer and Professional Products | $ | 37,115 |  |  | $ | 23,970 |  |  | $ | 84,068 |  |  | $ | 73,151 |
Home and Building Products | 39,299 |  |  | 33,851 |  |  | 110,635 |  |  | 85,283 |
Defense Electronics | 4,122 |  |  | 7,280 |  |  | 12,845 |  |  | 17,001 |
Segment adjusted EBITDA | 80,536 |  |  | 65,101 |  |  | 207,548 |  |  | 175,435 |
Unallocated amounts, excluding depreciation | (11,080 | ) |  | (12,033 | ) |  | (34,969 | ) |  | (34,505 | )
Adjusted EBITDA | 69,456 |  |  | 53,068 |  |  | 172,579 |  |  | 140,930 |
Net interest expense | (16,585 | ) |  | (17,087 | ) |  | (49,096 | ) |  | (50,723 | )
Depreciation and amortization | (15,523 | ) |  | (15,595 | ) |  | (47,067 | ) |  | (46,172 | )
Loss from debt extinguishment | (1,235 | ) |  | — |  |  | (7,925 | ) |  | — |
Restructuring charges | (1,633 | ) |  | — |  |  | (11,171 | ) |  | — |
Acquisition costs | — |  |  | — |  |  | (2,960 | ) |  | — |
Income before taxes from continuing operations | $ | 34,480 |  |  | $ | 20,386 |  |  | $ | 54,360 |  |  | $ | 44,035 |
Unallocated amounts typically include general corporate expenses not attributable to a reportable segment.
| For the Three Months Ended June 30, |  | For the Nine Months Ended June 30,
DEPRECIATION and AMORTIZATION | 2020 |  | 2019 |  | 2020 |  | 2019
Segment: |  |  |  |  |  |  |
Consumer and Professional Products | $ | 8,197 |  |  | $ | 8,158 |  |  | $ | 24,650 |  |  | $ | 24,148 |
Home and Building Products | 4,507 |  |  | 4,626 |  |  | 13,975 |  |  | 13,683 |
Defense Electronics | 2,666 |  |  | 2,669 |  |  | 7,986 |  |  | 7,926 |
Total segment depreciation and amortization | 15,370 |  |  | 15,453 |  |  | 46,611 |  |  | 45,757 |
Corporate | 153 |  |  | 142 |  |  | 456 |  |  | 415 |
Total consolidated depreciation and amortization | $ | 15,523 |  |  | $ | 15,595 |  |  | $ | 47,067 |  |  | $ | 46,172 |
CAPITAL EXPENDITURES |  |  |  |  |  |  |  |  |  |  |
Segment: |  |  |  |  |  |  |  |  |  |  |
Consumer and Professional Products | $ | 7,029 |  |  | $ | 3,187 |  |  | $ | 14,561 |  |  | $ | 11,327 |
Home and Building Products | 3,640 |  |  | 5,088 |  |  | 15,135 |  |  | 10,423 |
Defense Electronics | 1,538 |  |  | 2,064 |  |  | 4,748 |  |  | 5,797 |
Total segment | 12,207 |  |  | 10,339 |  |  | 34,444 |  |  | 27,547 |
Corporate | 25 |  |  | 37 |  |  | 307 |  |  | 247 |
Total consolidated capital expenditures | $ | 12,232 |  |  | $ | 10,376 |  |  | $ | 34,751 |  |  | $ | 27,794 |
ASSETS | At June 30, 2020 |  | At September 30, 2019
Segment assets: |  |  |
Consumer and Professional Products | $ | 1,269,540 |  |  | $ | 1,070,510 |
Home and Building Products | 592,038 |  |  | 571,216 |
Defense Electronics | 335,262 |  |  | 347,575 |
Total segment assets | 2,196,840 |  |  | 1,989,301 |
Corporate | 105,343 |  |  | 82,429 |
Total continuing assets | 2,302,183 |  |  | 2,071,730 |
Assets of discontinued operations | 8,037 |  |  | 3,209 |
Consolidated total | $ | 2,310,220 |  |  | $ | 2,074,939 |
Summary of Disaggregation of Revenue by End Market and Segment | The following table presents revenue disaggregated by end market and segment:
| For the Three Months Ended June 30, | For the Nine Months Ended June 30,
| 2020 |  | 2019 | 2020 |  | 2019
Residential repair and remodel | $ | 50,709 |  |  | $ | 35,416 |  | $ | 126,304 |  |  | $ | 101,015 |
Retail | 177,271 |  |  | 148,596 |  | 441,795 |  |  | 424,537 |
Residential new construction | 14,487 |  |  | 15,345 |  | 44,344 |  |  | 43,162 |
Industrial | 9,303 |  |  | 12,880 |  | 30,461 |  |  | 34,054 |
International excluding North America | 77,159 |  |  | 61,473 |  | 202,013 |  |  | 175,148 |
Total Consumer and Professional Products | 328,929 |  |  | 273,710 |  | 844,917 |  |  | 777,916 |
Residential repair and remodel | 109,876 |  |  | 112,730 |  | 332,681 |  |  | 316,368 |
Commercial construction | 84,521 |  |  | 83,382 |  | 262,708 |  |  | 243,939 |
Residential new construction | 24,767 |  |  | 25,409 |  | 74,985 |  |  | 71,308 |
Total Home and Building Products | 219,164 |  |  | 221,521 |  | 670,374 |  |  | 631,615 |
U.S. Government | 54,802 |  |  | 46,579 |  | 151,126 |  |  | 138,515 |
International | 24,779 |  |  | 30,120 |  | 68,333 |  |  | 75,348 |
Commercial | 4,387 |  |  | 3,040 |  | 12,099 |  |  | 11,731 |
Total Defense Electronics | 83,968 |  |  | 79,739 |  | 231,558 |  |  | 225,594 |
Total Consolidated Revenue | $ | 632,061 |  |  | $ | 574,970 |  | $ | 1,746,849 |  |  | $ | 1,635,125 |
The following table presents revenue disaggregated by geography based on the location of the Company's customer:
REVENUE BY GEOGRAPHIC AREA - DESTINATION | For the Three Months Ended June 30, 2020 |  | For the Nine Months Ended June 30, 2020
| CPP | HBP | Defense Electronics | Total |  | CPP | HBP | Defense Electronics | Total
United States | $ | 232,544 |  | $ | 209,222 |  | $ | 56,294 |  | $ | 498,060 |  |  | $ | 584,114 |  | $ | 635,232 |  | $ | 157,508 |  | $ | 1,376,854 |
Europe | 29,267 |  | 81 |  | 8,636 |  | 37,984 |  |  | 60,609 |  | 109 |  | 24,501 |  | 85,219 |
Canada | 18,231 |  | 7,729 |  | 3,012 |  | 28,972 |  |  | 53,527 |  | 26,849 |  | 9,795 |  | 90,171 |
Australia | 47,614 |  | — |  | 1,012 |  | 48,626 |  |  | 140,874 |  | — |  | 1,807 |  | 142,681 |
All other countries | 1,273 |  | 2,132 |  | 15,014 |  | 18,419 |  |  | 5,793 |  | 8,184 |  | 37,947 |  | 51,924 |
Consolidated revenue | $ | 328,929 |  | $ | 219,164 |  | $ | 83,968 |  | $ | 632,061 |  |  | $ | 844,917 |  | $ | 670,374 |  | $ | 231,558 |  | $ | 1,746,849 |
REVENUE BY GEOGRAPHIC AREA - DESTINATION | For the Three Months Ended June 30, 2019 |  | For the Nine Months Ended June 30, 2019
| CPP | HBP | Defense Electronics | Total |  | CPP | HBP | Defense Electronics | Total
United States | $ | 193,948 |  | $ | 206,489 |  | $ | 49,379 |  | $ | 449,816 |  |  | $ | 541,309 |  | $ | 592,261 |  | $ | 148,853 |  | $ | 1,282,423 |
Europe | 25,663 |  | 31 |  | 8,387 |  | 34,081 |  |  | 53,871 |  | 77 |  | 27,188 |  | 81,136 |
Canada | 16,246 |  | 9,867 |  | 2,855 |  | 28,968 |  |  | 54,456 |  | 27,832 |  | 8,542 |  | 90,830 |
Australia | 35,829 |  | 163 |  | 838 |  | 36,830 |  |  | 121,617 |  | 613 |  | 2,426 |  | 124,656 |
All other countries | 2,024 |  | 4,971 |  | 18,280 |  | 25,275 |  |  | 6,663 |  | 10,832 |  | 38,585 |  | 56,080 |
Consolidated revenue | $ | 273,710 |  | $ | 221,521 |  | $ | 79,739 |  | $ | 574,970 |  |  | $ | 777,916 |  | $ | 631,615 |  | $ | 225,594 |  | $ | 1,635,125 |

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