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Commitments and Contingencies (Tables)

12 Months Ended

Aug. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Changes in Product Warranty and Recall Costs

Estimated liabilities for product warranty and recall costs are included in Other accrued liabilities or Other long-term liabilities on the Consolidated Balance Sheets based upon when we expect to settle the incurred warranty. The following table summarizes changes in the estimated liabilities for product warranty and recall costs during the periods presented (in millions):

			Year Ended August 31,
			2021						2020						2019
Beginning balance			$	16.1					$	11.5					$	27.3
Warranty and recall costs			32.3						32.0						18.7
Payments and other deductions			(28.4)						(27.5)						(19.7)
Acquired warranty and recall liabilities			0.3						0.1						—
ASC 606 adjustments (1)			—						—						(14.8)
Ending balance			$	20.3					$	16.1					$	11.5

______________________________

(1) Certain service-type warranties accounted for as contingent liabilities prior to the adoption of ASC 606 (defined below) are now reflected as contract liabilities effective September 1, 2018.

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- References

No definition available.

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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=123368208&loc=d3e12565-110249

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