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Warranties

12 Months Ended

Aug. 31, 2020

Product Warranties Disclosures [Abstract]

Warranties

Note 18 - Warranties

Product Warranties 

The Company generally warrants its products against certain manufacturing and other defects.  These product warranties are provided for specific periods and/or usage of the product.  The accrued product warranty costs are for a combination of specifically identified items and other incurred, but not identified, items based primarily on historical experience of actual warranty claims.  This reserve is classified within other current liabilities.   

The following tables provide the changes in the Company’s product warranties: 

		For the years ended August 31,
($ in thousands)		2020				2019
Product warranty accrual balance, beginning of period		$	8,960			$	7,109
Liabilities accrued for warranties during the period			7,895				7,263
Warranty claims paid during the period			(6,970	)			(5,769	)
Changes in estimates			880				357
Product warranty accrual balance, end of period		$	10,765			$	8,960

Warranty costs were $8.8 million, $7.6 million, and $5.4 million for fiscal 2020, 2019, and 2018, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-URI http://asc.fasb.org/topic&trid=2155896

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