Stockholders' Equity (Tables)

6 Months Ended

May. 31, 2015

Schedule of basic and diluted per share results

	For the Three Months Ended,						For the Six Months Ended,
	May 31, 2015			May 31, 2014			May 31, 2015			May 31, 2014

Loss from continuing operations for computation of basic and diluted per share results, net of tax	$	(234	)	$	(225	)	$	(942	)	$	(1,323	)

Income from discontinued operations for computation of basic and diluted per share results, net of tax	—			390			—			118


Net (loss) income	$	(234	)	$	165		$	(942	)	$	(1,205	)


Weighted average shares outstanding for computation of basic per share results	5,150,000			5,147,000			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			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 for the three months and six months ended May 31, 2015 would have been 23,000 and 19,000, respectively. The incremental shares from the assumed exercise of stock options for the three months and six months ended May 31, 2014 would have been 12,000 and 13,000, respectively.

Schedule of options granted by Griffin under the Stock Option Plan to non-employee directors

	For the Six Months Ended,
	May 31, 2015			May 31, 2014
	Number of Shares	Fair Value per Option at Grant Date		Number of Shares	Fair Value per Option at Grant Date

Non-employee directors	8,282	$	14.39	8,532	$	12.42

Schedule of assumptions used in determining fair values of each option

	For the Six Months Ended,
	May 31, 2015		May 31, 2014

Expected volatility	40.8	%	38.9	%
Risk free interest rate	2.0	%	2.2	%
Expected option term (in years)	8.5		8.5
Annual dividend yield	0.7	%	0.7	%

Summary of the activity under the Griffin Stock Option Plan

	For the Six Months Ended,
	May 31, 2015				May 31, 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
Granted	8,282		$	31.38	8,532		$	28.12
Exercised	(3,134	)	$	25.53	(3,208	)	$	24.94
Forfeited	—		$	—	(23,000	)	$	30.27

Outstanding at end of period	227,149		$	30.45	222,001		$	30.35

Schedule of options by range of exercise prices

Range of Exercise Prices	Outstanding at May 31, 2015	Weighted Avg. Exercise Price		Weighted Avg. Remaining Contractual Life (in years)	Total Intrinsic Value
$23.00-$28.00	14,934	$	25.43	6.7	$	106
$28.00-$32.00	129,140	$	29.06	5.9	$	446
$32.00-$39.00	83,075	$	33.52	3.4	$	1

	227,149	$	30.45	5.0	$	553

Number of option holders at May 31, 2015

Schedule of compensation expense and related tax benefits for stock options

	For the Three Months Ended,				For the Six Months Ended,
	May 31, 2015		May 31, 2014		May 31, 2015		May 31, 2014

Compensation expense - continuing operations	$	69	$	60	$	162	$	213
Compensation expense - discontinued operations	—		—		—		(130		)

Net compensation expense	$	69	$	60	$	162	$	83


Related tax benefit - continuing operations	$	23	$	16	$	41	$	40
Related tax benefit - discontinued operations	—		—		—		—

Net related tax benefit	$	23	$	16	$	41	$	40

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

Balance of Fiscal 2015	$	82
Fiscal 2016	$	79
Fiscal 2017	$	19

Schedule of accumulated other comprehensive loss, and activity

For the six months ended May 31, 2015:

				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	(458		)	291		(167		)
Amounts reclassified	368			—		368

Net activity for other comprehensive loss	(90		)	291		201

Balance May 31, 2015	$	(1,554	)	$	920	$	(634	)

For the six months ended May 31, 2014:

				Unrealized gain			Actuarial gain
	Unrealized loss on			on investment in			on postretirement
	cash flow hedges			Centaur Media			benefits program			Total
Balance November 30, 2013	$	(1,401	)	$	648		$	304		$	(449	)

Other comprehensive (loss) income before reclassifications	(332		)	327			—			(5		)
Amounts reclassified	317			(204		)	(304		)	(191		)

Net activity for other comprehensive loss	(15		)	123			(304		)	(196		)

Balance May 31, 2014	$	(1,416	)	$	771		$	—		$	(645	)

Schedule of components of other comprehensive (loss) income

	For the Three Months Ended,
	May 31, 2015									May 31, 2014
	Pre-Tax			Tax (Expense) Benefit			Net-of-Tax			Pre-Tax			Tax (Expense) Benefit			Net-of-Tax

Reclassifications included in net income (loss):
Loss on cash flow hedges (interest expense)	$	303		$	(112	)	$	191		$	253		$	(93	)	$	160
Termination of postretirement benefits program ($283, net of tax to discontinued operations, $21, net of tax to general and administrative expense)	—			—			—			(485		)	181			(304		)

Total reclassifications included in net income (loss)	303			(112		)	191			(232		)	88			(144		)


Mark to market adjustment on Centaur Media for a (decrease) increase in the foreign currency exchange rate	(23		)	8			(15		)	1			(1		)	—

Mark to market adjustment on Centaur Media for an increase (decrease) in fair value	448			(157		)	291			(327		)	115			(212		)

Decrease in fair value adjustments on Griffin’s cash flow hedges	(209		)	77			(132		)	(349		)	128			(221		)


Total other changes in other comprehensive income (loss)	216			(72		)	144			(675		)	242			(433		)


Other comprehensive income (loss)	$	519		$	(184	)	$	335		$	(907	)	$	330		$	(577	)

	For the Six Months Ended,
	May 31, 2015									May 31, 2014
	Pre-Tax			Tax (Expense) Benefit			Net-of-Tax			Pre-Tax			Tax (Expense) Benefit			Net-of-Tax

Reclassifications included in net income (loss):
Loss on cash flow hedges (interest expense)	$	584		$	(216	)	$	368		$	503		$	(186	)	$	317
Termination of postretirement benefits program ($283, net of tax to discontinued operations, $21, net of tax to general and administrative expense)	—			—			—			(485		)	181			(304		)
Realized gain on sale of Centaur Media (gain on sale)	—			—			—			(321		)	117			(204		)

Total reclassifications included in net income (loss)	584			(216		)	368			(303		)	112			(191		)


Mark to market adjustment on Centaur Media for a (decrease) increase in the foreign currency exchange rate	(49		)	17			(32		)	62			(22		)	40

Mark to market adjustment on Centaur Media for an increase in fair value	498			(175		)	323			441			(154		)	287

Decrease in fair value adjustments on Griffin’s cash flow hedges	(727		)	269			(458		)	(526		)	194			(332		)


Total change in other comprehensive income (loss)	(278		)	111			(167		)	(23		)	18			(5		)


Other comprehensive income (loss)	$	306		$	(105	)	$	201		$	(326	)	$	130		$	(196	)