Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Costs

Product Warranty Costs
9 Months Ended
May 31, 2021
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, 2021 and 2020, respectively (in thousands):
  Nine Months Ended May 31,
  2021 2020
Beginning balance $ 892  $ 1,145 
Provision for warranties 1,151  354 
Warranty payments and costs incurred (893) (735)
Warranty activity for divested businesses —  (27)
Impact of changes in foreign currency rates 30 
Ending balance $ 1,180  $ 738