Quarterly report pursuant to Section 13 or 15(d)

Product Warranty Costs

v2.4.0.8
Product Warranty Costs
 9 Months Ended
May 31, 2014
Guarantees [Abstract]  
Product Warranty Costs
Product Warranty Costs
The Company generally offers its customers a warranty on products they purchase, 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 accrued product warranty reserve from continuing operations (in thousands):
 
 
Nine Months Ended May 31,
 
 
2014
 
2013
Beginning balance
 
$
7,413

 
$
5,121

Provision for warranties
 
2,923

 
5,093

Warranty reserve of acquired business
 
50

 
—

Warranty payments and costs incurred
 
(5,311
)
 
(4,931
)
Impact of changes in foreign currency rates
 
30

 
32

Ending balance
 
$
5,105

 
$
5,315