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Warranty Accruals
6 Months Ended
Feb. 28, 2021
Guarantees And Product Warranties [Abstract]  
Warranty Accruals

Note 7 – 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 Consolidated Balance Sheets, are reviewed periodically and updated based on warranty trends and expirations of warranty periods.

 

 


 

Warranty accrual activity:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(In thousands)

 

February 28,

2021

 

 

February 29,

2020

 

 

February 28,

2021

 

 

February 29,

2020

 

Balance at beginning of period

 

$

45,620

 

 

$

47,110

 

 

$

45,224

 

 

$

46,678

 

Charged to cost of revenue, net

 

 

(603

)

 

 

884

 

 

 

1,351

 

 

 

3,262

 

Payments

 

 

(2,429

)

 

 

(1,136

)

 

 

(3,844

)

 

 

(3,135

)

Currency translation effect

 

 

101

 

 

 

(8

)

 

 

(42

)

 

 

45

 

Balance at end of period

 

$

42,689

 

 

$

46,850

 

 

$

42,689

 

 

$

46,850