Accrued Expenses

12 Months Ended

Aug. 31, 2020

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	August 31, 2020		August 31, 2019
Contract liabilities(1)	$	496,219	$	511,329
Accrued compensation and employee benefits	703,250		600,907
Obligation associated with securitization programs	494,042		475,251
Other accrued expenses	1,518,017		1,402,657
Accrued expenses	$	3,211,528	$	2,990,144

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Revenue recognized during the fiscal years ended August 31, 2020 and 2019 that was included in the contract liability balance as of August 31, 2019 and September 1, 2018 was $308.1 million and $404.0 million, respectively.