Warranty Accruals

9 Months Ended

May 31, 2023

Guarantees and Product Warranties [Abstract]

Warranty Accruals

Note 9 – Warranty Accruals

Warranty costs are estimated and charged to operations to cover a defined warranty period. The estimated warranty cost is based on the history of warranty claims for each particular product type. For new product types without a warranty history, preliminary estimates are based on historical information for similar product types. The warranty accruals, included in Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets, are reviewed periodically and updated based on warranty trends and expirations of warranty periods.

Warranty accrual activity:

	Three Months Ended May 31,						Nine Months Ended May 31,
(in millions)	2023			2022			2023			2022
Balance at beginning of period	$	24.5		$	30.1		$	24.0		$	27.9
Charged to cost of revenue, net		2.8			1.7			5.7			7.6
Payments		(2.0	)		(3.1	)		(4.6	)		(6.4	)
Currency translation effect		0.1			(0.2	)		0.3			(0.6	)
Balance at end of period	$	25.4		$	28.5		$	25.4		$	28.5