v2.4.0.6
EMPLOYEE BENEFIT PLANS (Tables)
|
12 Months Ended |
|
Schedule of Net Benefit Costs [Table Text Block] |
Net periodic benefit costs (benefits) were as follows:
|
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|
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Defined Benefits for the Years
Ended September 30,
|
|
Supplemental Benefits for the
Years Ended September 30,
|
|
|
|
|
|
|
|
|
|
2012
|
|
2011
|
|
2010
|
|
2012
|
|
2011
|
|
2010
|
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|
|
|
|
|
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|
|
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|
|
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|
Net periodic costs
(benefits)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service cost
|
|
$
|
238
|
|
$
|
377
|
|
$
|
529
|
|
$
|
36
|
|
$
|
34
|
|
$
|
29
|
|
Interest cost
|
|
|
9,191
|
|
|
9,552
|
|
|
1,645
|
|
|
1,692
|
|
|
1,759
|
|
|
1,984
|
|
Expected return on plan
assets
|
|
|
(11,896
|
)
|
|
(11,501
|
)
|
|
(1,371
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Amortization of:
|
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Prior service costs
|
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|
6
|
|
|
8
|
|
|
9
|
|
|
171
|
|
|
328
|
|
|
328
|
|
Actuarial loss
|
|
|
1,735
|
|
|
1,144
|
|
|
1,064
|
|
|
1,137
|
|
|
1,141
|
|
|
986
|
|
|
|
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|
|
|
|
|
|
|
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|
|
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Total net periodic costs
(benefits)
|
|
$
|
(726
|
)
|
$
|
(420
|
)
|
$
|
1,876
|
|
$
|
3,036
|
|
$
|
3,262
|
|
$
|
3,327
|
|
|
|
|
|
|
|
|
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|
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|
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|
Schedule of Assumptions Used [Table Text Block] |
The weighted-average assumptions used in determining the net
periodic (benefits) costs were as follows:
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Defined Benefits for the Years
Ended September 30,
|
|
Supplemental Benefits for the
Years Ended September 30,
|
|
|
|
|
|
|
|
|
|
2012
|
|
2011
|
|
2010
|
|
2012
|
|
2011
|
|
2010
|
|
|
|
|
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|
|
Discount rate
|
|
|
4.44
|
%
|
|
4.89
|
%
|
|
5.60
|
%
|
|
4.30
|
%
|
|
4.26
|
%
|
|
5.00
|
%
|
Average wage increase
|
|
|
0.11
|
%
|
|
0.72
|
%
|
|
3.50
|
%
|
|
4.89
|
%
|
|
4.89
|
%
|
|
5.00
|
%
|
Expected return on assets
|
|
|
7.71
|
%
|
|
7.72
|
%
|
|
7.00
|
%
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Schedule Of Plan Assets And Benefit Obligation Of Defined Benefit Plan [Table Text Block] |
Plan assets and benefit obligation of the defined and
supplemental benefit plans were as follows:
|
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|
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|
|
|
Defined Benefits at
September 30,
|
|
Supplemental Benefits at
September 30,
|
|
|
|
|
|
|
|
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
Change in benefit
obligation
|
|
|
|
|
|
|
|
|
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|
|
|
Benefit obligation at beginning of
fiscal year
|
|
$
|
212,660
|
|
$
|
200,208
|
|
$
|
41,285
|
|
$
|
43,220
|
|
Benefits earned during the year
|
|
|
238
|
|
|
378
|
|
|
36
|
|
|
34
|
|
Interest cost
|
|
|
9,191
|
|
|
9,552
|
|
|
1,692
|
|
|
1,759
|
|
Plan participant contributions
|
|
|
16
|
|
|
25
|
|
|
—
|
|
|
—
|
|
Benefits paid
|
|
|
(10,359
|
)
|
|
(10,607
|
)
|
|
(3,936
|
)
|
|
(3,915
|
)
|
Effect of foreign currency
|
|
|
(413
|
)
|
|
13
|
|
|
—
|
|
|
—
|
|
Actuarial loss
|
|
|
21,616
|
|
|
13,091
|
|
|
2,396
|
|
|
187
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit obligation at end of fiscal
year
|
|
|
232,949
|
|
|
212,660
|
|
|
41,473
|
|
|
41,285
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
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Change in Plan Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets at beginning
of fiscal year
|
|
|
137,678
|
|
|
133,733
|
|
|
—
|
|
|
—
|
|
Actual return on plan assets
|
|
|
25,190
|
|
|
636
|
|
|
—
|
|
|
—
|
|
Plan participant contributions
|
|
|
16
|
|
|
25
|
|
|
—
|
|
|
—
|
|
Company contributions
|
|
|
8,638
|
|
|
13,889
|
|
|
3,936
|
|
|
3,915
|
|
Effect of foreign currency
|
|
|
(330
|
)
|
|
2
|
|
|
—
|
|
|
—
|
|
Benefits paid
|
|
|
(10,359
|
)
|
|
(10,607
|
)
|
|
(3,936
|
)
|
|
(3,915
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets at end of
fiscal year
|
|
|
160,833
|
|
|
137,678
|
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Projected benefit obligation in
excess of plan assets
|
|
$
|
(72,116
|
)
|
$
|
(74,982
|
)
|
$
|
(41,473
|
)
|
$
|
(41,285
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts recognized in the statement
of financial position consist of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued liabilities
|
|
$
|
—
|
|
$
|
—
|
|
$
|
(3,897
|
)
|
$
|
(3,918
|
)
|
Other liabilities (long-term)
|
|
|
(72,116
|
)
|
|
(74,982
|
)
|
|
(37,576
|
)
|
|
(37,367
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilites
|
|
|
(72,116
|
)
|
|
(74,982
|
)
|
|
(41,473
|
)
|
|
(41,285
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net actuarial losses
|
|
|
44,656
|
|
|
38,057
|
|
|
20,750
|
|
|
19,491
|
|
Prior service cost
|
|
|
10
|
|
|
16
|
|
|
113
|
|
|
284
|
|
Deferred taxes
|
|
|
(15,633
|
)
|
|
(13,326
|
)
|
|
(7,302
|
)
|
|
(6,921
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Accumulated other comprehensive
loss, net of tax
|
|
|
29,033
|
|
|
24,747
|
|
|
13,561
|
|
|
12,854
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net amount recognized at September
30,
|
|
$
|
(43,083
|
)
|
$
|
(50,235
|
)
|
$
|
(27,912
|
)
|
$
|
(28,431
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated benefit
obligations
|
|
$
|
232,574
|
|
$
|
212,430
|
|
$
|
41,473
|
|
$
|
40,878
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Information for plans with
accumulated benefit obligations in excess of plan
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABO
|
|
$
|
232,574
|
|
$
|
212,430
|
|
$
|
41,473
|
|
$
|
40,878
|
|
PBO
|
|
|
232,949
|
|
|
212,660
|
|
|
41,473
|
|
|
41,285
|
|
Fair value of plan assets
|
|
|
160,833
|
|
|
137,678
|
|
|
—
|
|
|
—
|
|
|
Schedule Of Weighted Average Assumptions Used in Defined And Supplemental Benefit Obligations [Table Text Block] |
The weighted-average assumptions used in determining the
benefit obligations were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Defined Benefits at
September 30,
|
|
Supplemental Benefits at
September 30,
|
|
|
|
|
|
|
|
|
|
2012
|
|
2011
|
|
2012
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average discount
rate
|
|
|
3.67
|
%
|
|
4.44
|
%
|
|
3.40
|
%
|
|
4.30
|
%
|
Weighted average wage
increase
|
|
|
0.11
|
%
|
|
0.11
|
%
|
|
4.87
|
%
|
|
4.89
|
%
|
|
Schedule Of Actual And Weighted Average Assets Allocationfor Qualified Benefit plans [Table Text Block] |
The actual and weighted-average asset allocation for qualified
benefit plans were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At September 30,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2012
|
|
2011
|
|
Target
|
|
|
|
|
|
|
|
|
|
|
|
Equity securities
|
|
|
66.0
|
%
|
|
55.0
|
%
|
|
63.0
|
%
|
|
Fixed income
|
|
|
29.0
|
%
|
|
41.0
|
%
|
|
37.0
|
%
|
|
Other
|
|
|
5.0
|
%
|
|
4.0
|
%
|
|
0.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Expected Benefit Payments [Table Text Block] |
Estimated future benefit payments to retirees, which reflect
expected future service, are as follows:
|
|
|
|
|
|
|
|
For the fiscal years ending
September
|
|
Defined
Benefits
|
|
Supplemental
Benefits
|
|
|
|
|
|
|
|
2013
|
|
$
|
10,455
|
|
$
|
3,951
|
|
2014
|
|
|
10,789
|
|
|
3,951
|
|
2015
|
|
|
10,965
|
|
|
3,832
|
|
2016
|
|
|
11,208
|
|
|
3,778
|
|
2017
|
|
|
11,410
|
|
|
3,720
|
|
2018 through 2022
|
|
|
61,319
|
|
|
14,680
|
|
|
|
|
|
|
|
|
|
|
Schedule Of Fair Value Of Pension And Post Retirement Plan Assets By Asset Category [Table Text Block] |
The following table presents the fair values of Griffon’s
pension and post-retirement plan assets by asset
category:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
Cash and equivalents
|
|
$
|
29
|
|
$
|
—
|
|
$
|
—
|
|
$
|
29
|
|
Short-term investment funds
|
|
|
—
|
|
|
5,231
|
|
|
—
|
|
|
5,231
|
|
Government agency securities
|
|
|
—
|
|
|
2,899
|
|
|
—
|
|
|
2,899
|
|
Debt instruments
|
|
|
—
|
|
|
30,616
|
|
|
—
|
|
|
30,616
|
|
Equity securities
|
|
|
62,713
|
|
|
—
|
|
|
—
|
|
|
62,713
|
|
Commingled funds
|
|
|
—
|
|
|
50,105
|
|
|
6,224
|
|
|
56,329
|
|
Limited partnerships and hedge
|
|
|
|
|
|
|
|
|
|
|
|
|
|
fund investments
|
|
|
—
|
|
|
—
|
|
|
3,016
|
|
|
3,016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
62,742
|
|
$
|
88,851
|
|
$
|
9,240
|
|
$
|
160,833
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
Short-term investment funds
|
|
$
|
—
|
|
$
|
667
|
|
$
|
—
|
|
$
|
667
|
|
Government agency securities
|
|
|
382
|
|
|
2,741
|
|
|
—
|
|
|
3,123
|
|
Debt instruments
|
|
|
—
|
|
|
14,876
|
|
|
—
|
|
|
14,876
|
|
Equity securities
|
|
|
68,313
|
|
|
3,841
|
|
|
—
|
|
|
72,154
|
|
Commingled funds
|
|
|
—
|
|
|
46,858
|
|
|
—
|
|
|
46,858
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
68,695
|
|
$
|
68,983
|
|
$
|
—
|
|
$
|
137,678
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
The activity for the level 3 assets was as follows:
|
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] |
The ESOP shares were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
At September 30,
|
|
|
|
|
|
|
|
|
|
2012
|
|
2011
|
|
|
|
|
|
|
|
|
|
Allocated shares
|
|
|
2,335,040
|
|
|
2,233,950
|
|
|
Unallocated shares
|
|
|
2,135,287
|
|
|
2,339,813
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,470,327
|
|
|
4,573,763
|
|
|
|
|
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- Definition
Tabular disclosure for actual and weighted average assets allocation for qualified benefit plans.
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- Definition
Tabular disclosure for pension and post retirement plan assets by asset category.
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- Definition
Tabular disclosure for plan assets and benefit obligation of the defined plans.
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- Definition
Tabular disclosure for weighted average assumptions used in determining the benefit obligations.
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- Definition
Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
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- Definition
Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.
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- Definition
Tabular disclosure of the description of the plan, the basis for determining contributions, including the employee groups covered, and the nature and effect of significant matters affecting comparability of information for all periods presented. For leveraged ESOPs and pension reversion ESOPs, the disclosure may include the basis for releasing shares and how dividends on allocated and unallocated shares are used. Disclosure may also include a description of the accounting policies followed for ESOP transactions, including the method of measuring compensation, the classification of dividends on ESOP shares, and the treatment of ESOP shares for EPS computations. If the employer has both old ESOP shares for which it does not adopt the latest guidance and new ESOP shares for which the new guidance is required, the accounting policies for both blocks of shares may be described. Disclosure may also include he amount of compensation cost recognized during the period, the number of allocated shares, committed-to-be-released shares, and suspense shares held by the ESOP at the balance-sheet date, the fair value of unearned ESOP shares at the balance-sheet date for shares accounted for under the latest guidance, the existence and nature of any repurchase obligation, including disclosure of the fair value of the shares allocated as of the balance sheet date, which are subject to a repurchase obligation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.
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- Definition
Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.
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- Definition
Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.
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