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Commitments and Contingencies (Tables)

9 Months Ended

May 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

The changes in the reserves for product warranty and recall costs during the nine months ended May 31, 2019 and 2018 are summarized as follows (in millions):

	Nine Months Ended
	May 31, 2019				May 31, 2018
Beginning balance	$	27.3			$	22.0
Warranty and recall costs	12.9				21.4
Payments and other deductions	(14.2		)		(19.5		)
Acquired warranty and recall liabilities	—				0.6
ASC 606 adjustments (1)	(14.8		)		—
Ending balance	$	11.2			$	24.5

^{______________________________} 

⁽¹⁾ Certain service-type warranties accounted for as contingent liabilities prior to the adoption of ASC 606 are now reflected as contract liabilities effective September 1, 2018. Refer to the New Accounting Pronouncements and Revenue Recognition footnotes for additional information.

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- References

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249

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