Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Costs

v3.7.0.1
Product Warranty Costs
 9 Months Ended
May 31, 2017
Guarantees [Abstract]  
Product Warranty Costs
Product Warranty Costs
The Company generally offers its customers a warranty on products sold, although warranty periods vary by product type and application. The reserve for future warranty claims is based on historical claim rates and current warranty cost experience. The following is a rollforward of the product warranty reserve (in thousands):
 
Nine Months Ended May 31,
 
2017
 
2016
Beginning balance
$
5,592

 
$
3,718

Provision for warranties
2,569

 
3,225

Warranty reserve for acquired businesses
—

 
3

Warranty payments and costs incurred
(3,993
)
 
(3,155
)
Impact of changes in foreign currency rates
(13
)

(35
)
Ending balance
$
4,155

 
$
3,756