XML 31 R17.htm IDEA: XBRL DOCUMENT
v3.25.3

RESTRUCTURING CHARGES | 12 Months Ended
--- | ---
Sep. 30, 2025
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES | RESTRUCTURING CHARGES Griffon announced in May 2023 that CPP was expanding its global sourcing strategy to include long handled tools, material handling, and wood storage and organization product lines for the U.S. market. This initiative was successfully completed as of September 30, 2024. As a result of this global sourcing expansion initiative, manufacturing operations have concluded at four manufacturing sites and four wood mills, resulting in a total facility footprint reduction of approximately 1.2 million square feet, or approximately 15% of CPP's square footage, and a headcount reduction of approximately 600. The closed locations have met the held for sale criteria and have been classified as such on our Consolidated Balance Sheets as of September 30, 2025 and September 30, 2024. The net book value of these properties as of September 30, 2025 and September 30, 2024 totaled $5,609 and $14,532, respectively. The adoption of an asset-light business model for these U.S. products has positioned CPP to better serve customers with a more flexible and cost-effective sourcing model that leverages supplier relationships around the world, and improved its competitive positioning. Implementation of this strategy over the duration of the project resulted in charges of $133,777, which included $51,082 of cash charges for employee retention and severance, operational transition, and facility and lease exit costs, and $82,695 of non-cash charges primarily related to asset write-downs. In addition, there were $2,678 of capital investments to effectuate the project. This excluded cash proceeds from the sale of real estate and equipment, which through September 30, 2024 were $13,271, and excluded future proceeds from the sale of remaining real estate and equipment. During the year ended September 30, 2025, cash proceeds related to the sale of the remaining real estate and equipment held for sale totaled $17,729. In the year ended September 30, 2024, CPP incurred pre-tax restructuring and related exit costs approximating $41,309. Cash charges totaled $17,546 and non-cash, asset-related charges totaled $23,763; the cash charges included $5,856 for one-time termination benefits and other personnel related costs and $11,690 for facility exit costs. Non-cash charges related to $23,763 recorded to adjust inventory to its net realizable value. In the year ended September 30, 2023, CPP incurred pre-tax restructuring and related exit costs approximating $92,468. Cash charges totaled $33,536 and non-cash, asset-related charges totaled $58,932; the cash charges included $16,772 for one-time termination benefits and other personnel-related costs and $16,764 for facility exit costs. Non-cash charges included a $21,832 impairment charge related to certain fixed assets at several manufacturing locations and $37,100 recorded to adjust inventory to its net realizable value. A summary of the restructuring and other related charges included in COGS and SG&A expenses in the Company's Consolidated Statements of Operations were as follows:
|  |  | For the Year Ended September 30,
|  |  | 2024 |  | 2023
Cost of goods and services |  |  | $ | 35,806 |  |  | $ | 82,028 |
Selling, general and administrative expenses |  |  | 5,503 |  |  | 10,440 |
Total restructuring charges |  |  | $ | 41,309 |  |  | $ | 92,468 |
|  | For the Year Ended September 30,
|  | 2024 | 2023
Personnel related costs |  | $ | 5,856 |  | $ | 16,772 |
Facilities, exit costs and other |  | 11,690 |  | 16,764 |
Non-cash facility and other |  | 23,763 |  | 58,932 |
Total |  | $ | 41,309 |  | $ | 92,468 |
The following table summarizes the accrued liabilities of the Company's restructuring actions:
| Cash Charges |  | Cash Charges |  | Non-Cash Charges |  |
| Personnel related costs |  | Facilities & Exit Costs |  | Facility and Other Costs |  | Total
Accrued liability at September 30, 2022 | $ | 386 |  |  | $ | 264 |  |  | $ | — |  |  | $ | 650 |
Charges | 16,772 |  |  | 16,764 |  |  | 58,932 |  |  | 92,468 |
Payments | (3,051) |  |  | (11,477) |  |  | — |  |  | (14,528) |
Non-cash charges (1) | — |  |  | — |  |  | (58,932) |  |  | (58,932) |
Accrued liability at September 30, 2023 | $ | 14,107 |  |  | $ | 5,551 |  |  | $ | — |  |  | $ | 19,658 |
Charges | 5,856 |  |  | 11,690 |  |  | 23,763 |  |  | 41,309 |
Payments | (11,781) |  |  | (12,425) |  |  | — |  |  | (24,206) |
Non-cash charges (1) | — |  |  | — |  |  | (23,763) |  |  | (23,763) |
Accrued liability at September 30, 2024 | $ | 8,182 |  |  | $ | 4,816 |  |  | $ | — |  |  | $ | 12,998 |
Payments | (5,355) |  |  | (3,600) |  |  | — |  |  | (8,955) |
Accrued liability at September 30, 2025 | $ | 2,827 |  |  | $ | 1,216 |  |  | $ | — |  |  | $ | 4,043 |
(1) Non-cash charges in Facility and Other Costs primarily represent the non-cash write-off of certain long-lived assets and inventory that has no recoverable value in connection with certain facility closures.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration