Accrued Expenses

3 Months Ended

Nov. 30, 2021

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consist of the following (in millions):

	November 30, 2021		August 31, 2021
Contract liabilities(1)	$	667	$	559
Accrued compensation and employee benefits	778		827
Inventory deposits	850		711
Other accrued expenses	1,576		1,637
Accrued expenses	$	3,871	$	3,734

(1)Revenue recognized during the three months ended November 30, 2021 and 2020 that was included in the contract liability balance as of August 31, 2021 and 2020 was $98 million and $170 million, respectively.