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		1
Ending balance	$	1,180	$	738