Accrued Expenses

6 Months Ended

Feb. 29, 2024

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consist of the following (in millions):

	February 29, 2024		August 31, 2023(2)
Inventory deposits	$	1,699	$	1,839
Contract liabilities(1)	976		886
Accrued compensation and employee benefits	573		743
Other accrued expenses	2,300		2,047
Accrued expenses	$	5,548	$	5,515

(1)Revenue recognized during the three months and six months ended February 29, 2024 that was included in the contract liability balance as of August 31, 2023 was $114 million and $275 million, respectively. Revenue recognized during the three months and six months ended February 28, 2023 that was included in the contract liability balance as of August 31, 2022 was $115 million and $254 million, respectively.

(2)Excludes $364 million of accrued expenses classified as held for sale as of August 31, 2023. See Note 15 – “Business Acquisitions and Divestitures” for additional information.