XML 82 R34.htm IDEA: XBRL DOCUMENT v3.24.3
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Aug. 31, 2024
Property, Plant and Equipment [Line Items]  
Property, Plant and Equipment [Table Text Block] The following is a summary of the Company's components of property, plant and equipment (in thousands):
August 31,
20242023
Land, buildings and improvements$14,670 $14,070 
Machinery and equipment145,604 136,566 
Gross property, plant and equipment160,274 150,636 
Less: Accumulated depreciation(119,989)(111,668)
Property, plant and equipment, net$40,285 $38,968 
Reconciliation of Changes in Accrued Product Warranty
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 on the Consolidated Balance Sheets, is based on historical claim rates and current warranty cost experience. The following is a roll-forward of the changes in product warranty reserves for fiscal 2024 and 2023 (in thousands):
August 31,
20242023
Beginning balance$856 $1,140 
Provision for warranties371 418 
Warranty payments and costs incurred(699)(723)
Warranty activity for divested businesses— (10)
Impact of changes in foreign currency rates31 
Ending balance$534 $856 
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Loss: The following is a summary of the components included within accumulated other comprehensive loss (in thousands):
August 31,
20242023
Foreign currency translation adjustments$99,215 $102,268 
Pension and other postretirement benefit plans17,187 18,394 
Cash flow hedges(4)548 
Accumulated other comprehensive loss$116,398 $121,210