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Stockholders' Equity (Tables)
 3 Months Ended
Feb. 28, 2015
Stockholders' Equity  
Schedule of basic and diluted per share results

 

 

 

For the Three Months Ended,

 

 

 

Feb. 28, 2015

 

Feb. 28, 2014

 

 

 

 

 

 

 

Loss from continuing operations for computation of basic and diluted per share results, net of tax

 

$

 
(708)

 

$

 
(1,098)

 

 

 

 

 

 

 

 

 

Loss from discontinued operations for computation of basic and diluted per share results, net of tax

 

 

—

 

 
(272)

 

 

 

 

 

 

 

 

 

Net loss

 

$

 
(708)

 

$

 
(1,370)

 

 

 

 

 

 

 

Weighted average shares outstanding for computation of basic per share results

 
5,150,000 

 
5,147,000 

 

 

 

 

 

 

 

Incremental shares from assumed exercise of Griffin stock options (a)

 

—

 

—

 

 

 

 

 

 

 

Adjusted weighted average shares for computation of diluted per share results

 
5,150,000 

 
5,147,000 

 

 

(a)

Incremental shares from the assumed exercise of Griffin stock options are not included in periods where the inclusion of such shares would be anti-dilutive. Such assessment is based on income (loss) from continuing operations when net income includes discontinued operations. The incremental shares from the assumed exercise of stock options in the three month periods ended February 28, 2015 and 2014 would have been 18,000 and 16,000, respectively.

 

Summary of the activity under the Griffin Stock Option Plan

 

 

 

 

For the Three Months Ended,

 

 

 

February 28, 2015

 

February 28, 2014

 

 

 

Number of
Shares

 

Weighted
Avg.
Exercise
Price

 

Number of
Shares

 

Weighted
Avg.
Exercise
Price

 

Outstanding at beginning of period

 

 
222,001 

 

$

 
30.35 

 

 
239,677 

 

$

 
30.35 

 

Forfeited

 

 

—

 

$

 

—

 

 
(23,000)

 

$

 
30.27 

 

Outstanding at end of period

 

 
222,001 

 

$

 
30.35 

 

 
216,677 

 

$

 
30.36 

 

 

Schedule of options by range of exercise prices

 

Range of Exercise
Prices

 

Outstanding at
February 28, 2015

 

Weighted
Avg. Exercise
Price

 

Weighted Avg.
Remaining
Contractual Life
(in years)

 

Total
Intrinsic
Value

 

$23.00-$28.00

 

 
18,068 

 

$

 
25.45 

 

 

5.7

 

$

 
121 

 

$28.00-$32.00

 

 
120,858 

 

$

 
28.90 

 

 

5.9

 

$

 
390 

 

$32.00-$39.00

 

 
83,075 

 

$

 
33.52 

 

 

3.6

 

$

 

—

 

 

 

 
222,001 

 

$

 
30.35 

 

 

5.0

 

$

 
511 

 

 

Schedule of option holders

 

Number of option holders at February 28, 2015

 
14 

 

 

Schedule of compensation expense and related tax benefits for stock options

 

 

 

For the Three Months Ended,

 

 

 

Feb. 28, 2015

 

Feb. 28, 2014

 

 

 

 

 

 

 

Compensation expense - continuing operations

 

$

 
93 

 

$

 
153 

 

Compensation expense - discontinued operations

 

 

—

 

 
(130)

 

Net compensation expense

 

$

 
93 

 

$

 
23 

 

 

 

 

 

 

 

 

 

Related tax benefit - continuing operations

 

$

 
18 

 

$

 
24 

 

Related tax benefit - discontinued operations

 

 

—

 

 

—

 

Net related tax benefit

 

$

 
18 

 

$

 
24 

 

 

Schedule of unrecognized compensation expense related to nonvested stock options that will be recognized during future periods

 

Balance of Fiscal 2015

 

$

 

97

 

Fiscal 2016

 

$

 

47

 

 

Schedule of accumulated other comprehensive loss, and activity

 

 

 

 

 

Unrealized gain

 

 

 

 

 

Unrealized loss on

 

on investment in

 

 

 

 

 

cash flow hedges

 

Centaur Media

 

Total

 

Balance November 30, 2014

 

$

 
(1,464)

 

$

 
629 

 

$

 
(835)

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income before reclassfications

 

 
(326)

 

 
15 

 

 
(311)

 

Amounts reclassified

 

 
177 

 

 

—

 

 
177 

 

Net activity for other comprehensive loss

 

 
(149)

 

 
15 

 

 
(134)

 

Balance February 28, 2015

 

$

 
(1,613)

 

$

 
644 

 

$

 
(969)

 

 

 

 

Unrealized 

 

Unrealized gain

 

Actuarial gain

 

 

 

 

 

loss on cash

 

on investment

 

on postretirement

 

 

 

 

 

flow hedges

 

in Centaur Media

 

benefits program

 

Total

 

Balance November 30, 2013

 

$
(1,401)

 

$
648 

 

$
304 

 

$
(449)

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income before reclassifications

 
(111)

 
539 

 

—

 
428 

 

Amounts reclassified

 
157 

 
(204)

 

—

 
(47)

 

Net activity for other comprehensive loss

 
46 

 
335 

 

—

 
381 

 

Balance February 28, 2014

 

$
(1,355)

 

$
983 

 

$
304 

 

$
(68)

 

 

Schedule of components of other comprehensive (loss) income

 

 

 

For the Three Months Ended,

 

 

 

February 28, 2015

 

February 28, 2014

 

 

 

Pre-Tax

 

Tax
(Expense)
Benefit

 

Net-of-Tax

 

Pre-Tax

 

Tax
(Expense)
Benefit

 

Net-of-Tax

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reclassifications included in net loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss on cash flow hedges (interest expense)

 

$
281 

 

$
(104)

 

$
177 

 

$
250 

 

$
(93)

 

$
157 

 

Realized gain on sale of Centaur Media (gain on sale)

 

—

 

—

 

—

 
(321)

 
117 

 
(204)

 

Total reclassifications included in net loss

 
281 

 
(104)

 
177 

 
(71)

 
24 

 
(47)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mark to market adjustment on Centaur Media for a (decrease) increase in the foreign currency exchange rate

 
(26)

 
9 

 
(17)

 
61 

 
(21)

 
40 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mark to market adjustment on Centaur Media for an increase in fair value

 
50 

 
(18)

 
32 

 
768 

 
(269)

 
499 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Decrease in fair value adjustments on Griffin’s cash flow hedges

 
(518)

 
192 

 
(326)

 
(177)

 
66 

 
(111)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total other changes in other comprehensive (loss) income

 
(494)

 
183 

 
(311)

 
652 

 
(224)

 
428 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income

 

$
(213)

 

$
79 

 

$
(134)

 

$
581 

 

$
(200)

 

$
381