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Warranties
12 Months Ended
Aug. 31, 2015
Warranties [Abstract]  
Warranties

P. 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

 

2015

 

2014

Warranties:

 

 

 

 

 

 

    Product warranty accrual balance, beginning of period

 

$

9,331 

 

$

6,695 

    Liabilities accrued for warranties during the period

 

 

4,223 

 

 

7,533 

    Warranty claims paid during the period

 

 

(4,856)

 

 

(3,792)

    Changes in estimates

 

 

(1,427)

 

 

(1,105)

Product warranty accrual balance, end of period

 

$

7,271 

 

$

9,331 

 

 

 

 

 

 

 

 

Warranty costs were $2.8 million, $6.4 million, and $6.9 million for the fiscal years ended August 31, 2015,  2014 and 2013, respectively.