Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Aug. 31, 2017
Accounting Policies [Abstract]  
Comprehensive Income, Policy [Policy Text Block]
Accumulated Other Comprehensive Loss: The following is a summary of the Company's accumulated other comprehensive loss (in thousands):
 
 
August 31,
 
 
2017
2016
Foreign currency translation adjustments
 
$
207,804

$
228,274

Pension and other postretirement benefit plans, net of tax
 
19,457

23,549

Accumulated other comprehensive loss
 
$
227,261

$
251,823

Reconciliation of Changes in Accrued Product Warranty
Product Warranty Costs: The Company generally offers its customers a warranty on products sold, although warranty periods may 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 changes in product warranty reserves for fiscal years 2017 and 2016 (in thousands):
 
 
 
2017
 
2016
Beginning balance
 
$
5,592

 
$
3,719

Provision for warranties
 
5,608

 
5,985

Warranty payments and costs incurred
 
(4,714
)
 
(4,058
)
Impact of changes in foreign currency rates
 
130

 
(57
)
Warranty reserve of acquired business
 
—

 
3

Ending balance
 
$
6,616

 
$
5,592