Accrued Expenses

12 Months Ended

Aug. 31, 2024

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued Expenses

Accrued expenses consist of the following (in millions):

	August 31, 2024		August 31, 2023(1)
Inventory deposits	$	1,582	$	1,839
Contract liabilities(2)	1,017		886
Accrued compensation and employee benefits	699		743
Other accrued expenses	2,201		2,047
Accrued expenses	$	5,499	$	5,515

(1)Excludes $364 million of accrued expenses classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.

(2)Revenue recognized during the fiscal years ended August 31, 2024 and 2023 that was included in the contract liability balance as of August 31, 2023, and 2022 was $507 million and $539 million, respectively.