Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Costs

v3.20.2
Product Warranty Costs
9 Months Ended
May 31, 2020
Guarantees [Abstract]  
Product Warranty Costs
Note 7. Product Warranty Costs
The Company generally offers its customers an assurance warranty on products sold, although warranty periods may vary by product type and application. The reserve for future warranty claims, which is recorded within the "Other current liabilities" line in the Condensed Consolidated Balance Sheets, is based on historical claim rates and current warranty cost experience. The following summarizes the changes in product warranty reserves for the nine months ended May 31, 2020 and 2019, respectively (in thousands):
 
Nine Months Ended May 31,
 
2020
 
2019
Beginning balance
$
1,145

 
$
931

Provision for warranties
354

 
1,099

Warranty payments and costs incurred
(735
)
 
(806
)
Warranty activity for divested businesses
(27
)
 

Impact of changes in foreign currency rates
1


(22
)
Ending balance
$
738

 
$
1,202