v3.10.0.1
INCOME TAXES (Tables)
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12 Months Ended |
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Income Tax Disclosure [Abstract] |
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Schedule Of Income Loss From Continuing Operations Before Taxes |
Income taxes have been based on the following components of Income before taxes from continuing operations: | | | | | | | | | | | | | | | | 2018 | | 2017 | | 2016 | Domestic | $ | 4,942 |
| | $ | (1,339 | ) | | $ | 23,163 |
| Non-U.S. | 28,868 |
| | 18,037 |
| | 9,050 |
| | $ | 33,810 |
| | $ | 16,698 |
| | $ | 32,213 |
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Schedule of Components of Income Tax Expense (Benefit) |
Provision (benefit) for income taxes on income was comprised of the following from continuing operations: | | | | | | | | | | | | | | | | 2018 | | 2017 | | 2016 | Current | $ | 18,188 |
| | $ | (3,426 | ) | | $ | 6,388 |
| Deferred | (17,633 | ) | | 2,341 |
| | 6,044 |
| Total | $ | 555 |
| | $ | (1,085 | ) | | $ | 12,432 |
| U.S. Federal | $ | (12,714 | ) | | $ | (6,689 | ) | | $ | 4,358 |
| State and local | 5,175 |
| | 3,307 |
| | 3,287 |
| Non-U.S. | 8,094 |
| | 2,297 |
| | 4,787 |
| Total provision | $ | 555 |
| | $ | (1,085 | ) | | $ | 12,432 |
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Schedule of Effective Income Tax Rate Reconciliation |
Differences between the effective income tax rate applied to Income and U.S. Federal income statutory rate from continuing operations were as follows: | | | | | | | | | | | | | 2018 | | 2017 | | 2016 | U.S. Federal income tax provision (benefit) rate | 24.5 | % | | 35.0 | % | | 35.0 | % | State and local taxes, net of Federal benefit | 10.2 | % | | 12.4 | % | | 6.6 | % | Non-U.S. taxes - foreign permanent items and taxes | 3.6 | % | | (12.4 | )% | | (1.6 | )% | Non-U.S. tax true-up | — | % | | (11.4 | )% | | — | % | Change in domestic manufacturing deduction | — | % | | (5.8 | )% | | — | % | Change in tax contingency reserves | (0.6 | )% | | 0.7 | % | | (6.3 | )% | Impact of federal rate change on deferred tax balances | (60.0 | )% | | — | % | | — | % | Repatriation of foreign earnings | 61.6 | % | | — | % | | — | % | Change in valuation allowance | 13.4 | % | | (0.6 | )% | | (0.6 | )% | Non-deductible/non-taxable items, net | (2.4 | )% | | 8.3 | % | | 2.6 | % | Research and U.S. foreign tax credits | (39.4 | )% | | (3.6 | )% | | 8.8 | % | Share based compensation | (3.8 | )% | | (26.6 | )% | | (5.7 | )% | Other | (5.5 | )% | | (2.5 | )% | | (0.2 | )% | Effective tax provision (benefit) rate | 1.6 | % | | (6.5 | )% | | 38.6 | % |
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Schedule of Deferred Tax Assets and Liabilities |
The tax effect of temporary differences that give rise to future deferred tax assets and liabilities are as follows: | | | | | | | | | | | | 2018 | | 2017 | Deferred tax assets: | |
| | |
| Bad debt reserves | $ | 1,404 |
| | $ | 2,509 |
| Inventory reserves | 7,709 |
| | 7,615 |
| Deferred compensation (equity compensation and defined benefit plans) | 11,437 |
| | 27,430 |
| Compensation benefits | 5,434 |
| | 6,111 |
| Insurance reserve | 1,782 |
| | 2,985 |
| Restructuring reserve | — |
| | 29 |
| Warranty reserve | 2,598 |
| | 2,893 |
| Net operating loss | 10,593 |
| | 37,383 |
| Tax credits | 6,379 |
| | 1,866 |
| Other reserves and accruals | 5,433 |
| | 7,658 |
| | 52,769 |
| | 96,479 |
| Valuation allowance | (8,520 | ) | | (17,466 | ) | Total deferred tax assets | 44,249 |
| | 79,013 |
| Deferred tax liabilities: | |
| | |
| Deferred income | — |
| | (1,862 | ) | Goodwill and intangibles | (44,402 | ) | | (70,560 | ) | Property, plant and equipment | (39,260 | ) | | (51,488 | ) | Deferred gain on assets held for sale | — |
| | (16,300 | ) | Other | (1,086 | ) | | (1,016 | ) | Total deferred tax liabilities | (84,748 | ) | | (141,226 | ) | Net deferred tax liabilities | $ | (40,499 | ) | | $ | (62,213 | ) |
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Schedule Of Components of Net Deferred Tax Asset Liability By Balance Sheet Account |
The components of the net deferred tax liability, by balance sheet account, were as follows: | | | | | | | | | | | | 2018 | | 2017 | Other assets | $ | 61 |
| | $ | 6 |
| Assets of discontinued operations held for sale | — |
| | 6,745 |
| Other liabilities | (42,689 | ) | | (58,505 | ) | Liabilities of discontinued operations held for sale | 872 |
| | (12,584 | ) | Liabilities of discontinued operations not held for sale | 1,257 |
| | 2,125 |
| Net deferred liability | $ | (40,499 | ) | | $ | (62,213 | ) |
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Schedule of Unrecognized Tax Benefits Roll Forward |
The following is a roll forward of unrecognized tax benefits: | | | | | | $ | 4,709 |
| Additions based on tax positions related to the current year | 177 |
| Additions based on tax positions related to prior years | 69 |
| Reductions based on tax positions related to prior years | (8 | ) | Lapse of Statutes | (122 | ) | | 4,825 |
| Additions based on tax positions related to the current year | 152 |
| Reductions based on tax positions related to prior years | (253 | ) | Additions based on tax positions related to prior years | 26 |
| Lapse of Statutes | (194 | ) | Settlements | (37 | ) | | $ | 4,519 |
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- DefinitionTabular disclosure for components of net deferred tax asset liability by balance sheet account.
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- DefinitionTabular disclosure for income loss from continuing operations before taxes.
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- DefinitionTabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.
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- DefinitionTabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.
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- DefinitionTabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.
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