GOODWILL AND INTANGIBLES

12 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill at September 30, 2025 and 2024 was $192,917 and $329,393, respectively.

During the third quarter of fiscal 2025, indicators of goodwill impairment were present for the Hunter Fan reporting unit within the CPP reportable segment, driven by a decrease in year-to-date and forecasted sales and operating results primarily due to ongoing weak consumer demand coupled with the impact of increased tariffs disrupting historical customer ordering patterns. As such, we performed a quantitative assessment of the Hunter Fan reporting unit goodwill using both an income-based and market-based valuation approach. This impairment test resulted in a pre-tax, non-cash goodwill impairment charge of $136,612, representing the remaining goodwill of the Hunter Fan reporting unit. In connection with the preparation of our financial statements for the fiscal year ended September 30, 2025, Griffon performed a qualitative assessment of the CPP reporting units and determined that indicators that fair value was less than the carrying amount were not present. For the fiscal years ended September 30, 2024 and 2023, the Company performed a quantitative assessment of the CPP reporting units using both an income-based and market-based approach, which did not result in a goodwill impairment.

For the HBP reporting unit, we performed a qualitative assessment and determined that indicators that fair value was less than the carrying amount were not present in fiscal years 2025, 2024 and 2023.

The following table provides a summary of the carrying value of goodwill by segment as of September 30, 2025, 2024 and 2023.


	At September 30, 2023		Goodwill from acquisitions (a)		Foreign currency translation adjustments		At September 30, 2024		Impairment Charges		Goodwill from acquisitions (b)		Foreign currency translation adjustments		At September 30, 2025
Consumer and Professional Products	$	136,611	$	1,483	$	46	$	138,140	$	(136,612)	$	230	$	(94)	$	1,664
Home and Building Products	191,253		—		—		191,253		—		—		—		191,253

Total	$	327,864	$	1,483	$	46	$	329,393	$	(136,612)	$	230	$	(94)	$	192,917

(a) The change in goodwill for the CPP segment relates to the initial purchase price allocation of the Pope acquisition in 2024.

(b) The change in goodwill for the CPP segment is due to final purchase price allocation adjustments recorded during the year ended September 30, 2025 related to the 2024 Pope acquisition.

Indicators of impairment were present for our Hunter Fan indefinite-lived intangible asset during the third quarter of fiscal 2025 due to the reasons discussed above. As such, we determined the fair value of Hunter Fan's indefinite-lived intangible asset by using a relief from royalty method, which estimates the value of a trademark by discounting to present value the hypothetical royalty payments that are saved by owning the asset rather than licensing it. We compared the estimated fair value to the carrying amount, resulting in a pre-tax, non-cash impairment charge of $107,000 to the carrying amount of Hunter Fan's trademark recorded in the third quarter of fiscal 2025. In preparation of the financial statements for the year ended September 30, 2025, Griffon performed qualitative assessments for the CPP indefinite-lived intangibles and determined that indicators that fair value was less than the carrying amount were not present. For the year ended September 30, 2024, the impairment tests did not result in impairment charges to CPP's gross carrying amount of intangible assets; however, for the year ended September 30, 2023, the impairment tests resulted in a pre-tax non-cash impairment charge of $109,200 to the gross carrying amount of our trademarks in the CPP segment.

Griffon performed qualitative assessments for the HBP indefinite-lived intangibles and determined that indicators that fair value was less than the carrying amount were not present during 2025, 2024 and 2023.

The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset:


	At September 30, 2025					At September 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	449,203	$	153,507	17	$	450,784	$	134,296
Unpatented technology	18,596		10,147		10	17,350		6,859
Total amortizable intangible assets	467,799		163,654			468,134		141,155
Trademarks	183,969		—			291,803		—
Total intangible assets	$	651,768	$	163,654		$	759,937	$	141,155

____________________________

In 2025, the gross carrying amount of intangible assets was unfavorably impacted by $1,169 related to foreign currency translation.

We also evaluated our definite-lived intangible assets for potential impairment in connection with the goodwill impairment event noted above. The review did not result in any impairment charges related to definite-lived intangible assets.

Amortization expense for intangible assets subject to amortization was $23,280, $22,803 and $22,389 in 2025, 2024, and 2023, respectively. Amortization expense for each of the next five years and thereafter, based on current intangible balances and classifications, is estimated as follows: 2026 - $23,600; 2027 - $23,600; 2028 - $23,600; 2029 - $23,500 and 2030 - $23,300; thereafter - $186,545.