Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Costs

v3.19.1
Product Warranty Costs
6 Months Ended
Feb. 28, 2019
Guarantees [Abstract]  
Product Warranty Costs
Note 7. 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, which is recorded within the "Other current liabilities" line on the Condensed Consolidated Balance Sheets, is based on historical claim rates and current warranty cost experience. The following is a rollforward of the product warranty reserves for the six months ended February 28, 2019 and 2018, respectively (in thousands):
 
Six Months Ended February 28,
 
2019
 
2018
Beginning balance
$
4,417

 
$
6,616

Provision for warranties
3,059

 
3,403

Warranty payments and costs incurred
(2,960
)
 
(3,582
)
Warranty activity for divested businesses
(160
)
 

Reclass of liabilities held for sale
(33
)
 

Impact of changes in foreign currency rates
28


213

Ending Balance
$
4,351

 
$
6,650