Stockholders' Equity (Tables)

9 Months Ended

Aug. 31, 2017

Stockholders' Equity

Schedule of basic and diluted per share results

	For the Three Months Ended				For the Nine Months Ended
	Aug. 31, 2017		Aug. 31, 2016		Aug. 31, 2017		Aug. 31, 2016
Net income (loss)	$	1,329	$	(49)	$	5,117	$	(763)
Weighted average shares outstanding for computation of basic per share results		5,001,000		5,093,000		5,013,000		5,132,000
Incremental shares from assumed exercise of Griffin stock options (a)		27,000		—		24,000		—
Adjusted weighted average shares for computation of diluted per share results		5,028,000		5,093,000		5,037,000		5,132,000

(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. The incremental shares from the assumed exercise of stock options for the 2016 third quarter and 2016 nine month period would have been 23,000 and 2,000, respectively.

Schedule of options granted to employees

	For the Nine Months Ended
	Aug. 31, 2017			Aug. 31, 2016
		Fair Value per			Fair Value per
	Number of	Option at		Number of	Option at
	Shares	Grant Date		Shares	Grant Date
Employees	5,000	$	11.13	101,450	$	7.51 - 11.65
Non-employee directors	6,570	$	13.49	8,409	$	11.30
	11,570			109,859

Schedule of assumptions used in determining fair values of options

	For the Nine Months Ended
	Aug. 31, 2017		Aug. 31, 2016
Expected volatility	32.7 to 39.6	%	32.9 to 41.1	%
Risk free interest rates	2.1 to 2.2	%	1.2 to 1.5	%
Expected option term (in years)	7.5 to 8.5		5 to 8.5
Annual dividend yield	0.8 to 0.9	%	0.9	%

Schedule of option holders

Number of option holders at August 31, 2017 31

Schedule of compensation expense and related tax benefits for stock options

	For the Three Months Ended				For the Nine Months Ended
	Aug. 31, 2017		Aug. 31, 2016		Aug. 31, 2017		Aug. 31, 2016
Compensation expense	$	90	$	71	$	260	$	185
Related tax benefit	$	19	$	17	$	59	$	41

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of Fiscal 2017	$	90
Fiscal 2018	$	340
Fiscal 2019	$	234
Fiscal 2020	$	112
Fiscal 2021	$	34

Summary of the activity under the Griffin Stock Option Plan

	For the Nine Months Ended
	August 31, 2017			August 31, 2016
			Weighted			Weighted
			Avg.			Avg.
	Number of		Exercise	Number of		Exercise
	Shares		Price	Shares		Price
Outstanding at beginning of period	324,546	$	29.23	225,727	$	30.47
Granted	11,570	$	30.59	109,859	$	26.83
Forfeited	(2,354)	$	36.82	(11,040)	$	30.73
Outstanding at end of period	333,762	$	29.22	324,546	$	29.23

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Vested and Nonvested Options	August 31, 2017	Exercise Price		(in years)	Value
$23.00 - $28.00	124,543	$	26.67	8.2	$	957
$28.00 - $32.00	128,248	$	29.07	4.3		677
$32.00 - $39.00	80,971	$	33.40	1.1		77
	333,762	$	29.22	5.0	$	1,711

Schedule of accumulated other comprehensive loss

	For the Nine Months Ended Aug. 31, 2017
			Unrealized gain
	Unrealized loss on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2016	$	(1,062)	$	13	$	(1,049)
Other comprehensive (loss) income before reclassifications		(1,322)		159		(1,163)
Amounts reclassified		636		(172)		464
Net activity for other comprehensive loss		(686)		(13)		(699)
Balance August 31, 2017	$	(1,748)	$	—	$	(1,748)

	For the Nine Months Ended Aug. 31, 2016
			Unrealized gain
	Unrealized loss on		on investment in
	cash flow hedges		Centaur Media		Total
Balance November 30, 2015	$	(1,744)	$	659	$	(1,085)
Other comprehensive loss before reclassifications		(1,825)		(593)		(2,418)
Amounts reclassified		646		—		646
Net activity for other comprehensive loss		(1,179)		(593)		(1,772)
Balance August 31, 2016	$	(2,923)	$	66	$	(2,857)

Schedule of components of accumulated other comprehensive income (loss)

	For the Three Months Ended
	August 31, 2017						August 31, 2016
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassifications included in net income (loss):
Loss on cash flow hedges (interest expense)	$	326	$	(117)	$	209	$	348	$	(129)	$	219
Realized gain on sale of Centaur Media (gain on sale)		(281)		109		(172)		—		—		—
Total reclassifications included in net income (loss)		45		(8)		37		348		(129)		219
Mark to market adjustment on Centaur Media for a decrease in the foreign currency exchange rate		(11)		3		(8)		(108)		37		(71)
Mark to market adjustment on Centaur Media for a decrease in fair value		(39)		14		(25)		(283)		100		(183)
Decrease in fair value adjustments on Griffin’s cash flow hedges		(1,087)		390		(697)		(1,129)		419		(710)
Total change in other comprehensive loss		(1,137)		407		(730)		(1,520)		556		(964)
Other comprehensive loss	$	(1,092)	$	399	$	(693)	$	(1,172)	$	427	$	(745)

	For the Nine Months Ended
	August 31, 2017						August 31, 2016
			Tax						Tax
			(Expense)		Net-of				(Expense)		Net-of
	Pre-Tax		Benefit		Tax		Pre-Tax		Benefit		Tax
Reclassifications included in net income (loss):
Loss on cash flow hedges (interest expense)	$	1,007	$	(371)	$	636	$	1,025	$	(379)	$	646
Realized gain on sale of Centaur Media (gain on sale)		(281)		109		(172)		—		—		—
Total reclassifications included in net income (loss)		726		(262)		464		1,025		(379)		646
Mark to market adjustment on Centaur Media for an increase (decrease) in the foreign currency exchange rate		25		(9)		16		(181)		63		(118)
Mark to market adjustment on Centaur Media for an increase (decrease) in fair value		220		(77)		143		(731)		256		(475)
Decrease in fair value adjustments on Griffin’s cash flow hedges		(2,052)		730		(1,322)		(2,898)		1,073		(1,825)
Total change in other comprehensive loss		(1,807)		644		(1,163)		(3,810)		1,392		(2,418)
Other comprehensive loss	$	(1,081)	$	382	$	(699)	$	(2,785)	$	1,013	$	(1,772)