Warranties

12 Months Ended

Aug. 31, 2021

Product Warranties Disclosures [Abstract]

Warranties

Note 17 - Warranties

Product Warranties

The Company generally warrants its products against certain manufacturing and other defects and estimates the amount of warranty accrual based on various factors, including historical warranty costs, current claim trends, and operating revenue.  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)	2021			2020
Product warranty accrual balance, beginning of period	$	10,765		$	8,960
Liabilities accrued for warranties during the period		7,286			7,895
Warranty claims paid during the period		(5,454	)		(6,970	)
Changes in estimates		139			880
Product warranty accrual balance, end of period	$	12,736		$	10,765

Warranty costs were $7.4 million, $8.8 million, and $7.6 million for fiscal 2021, 2020, and 2019, respectively.