Revenue (Tables)

12 Months Ended

Aug. 31, 2019

Revenue from Contract with Customer [Abstract]

Effect of Adoption of New Revenue Guidance

Following is a summary of the cumulative effect adjustment (in thousands):



	Balance as of August 31, 2018		Adjustments due to adoption of ASU 2014-09			Balance as of September 1, 2018
	Balance as of August 31, 2018		Adjustments due to adoption of ASU 2014-09			Balance as of September 1, 2018
Assets
Contract assets ⁽¹⁾	$	—	$	591,616		$	591,616
Inventories, net⁽¹⁾	$	3,457,706	$	(461,271	)	$	2,996,435
Prepaid expenses and other current assets⁽¹⁾⁽²⁾	$	1,141,000	$	(37,271	)	$	1,103,729
Deferred income taxes ⁽¹⁾⁽²⁾	$	218,252	$	(8,325	)	$	209,927

Liabilities
Contract liabilities ⁽²⁾⁽³⁾	$	—	$	690,142		$	690,142
Deferred income ^(2)(3)(4)	$	691,365	$	(691,365	)	$	—
Other accrued expenses ⁽³⁾⁽⁴⁾	$	1,000,979	$	40,392		$	1,041,371
Deferred income taxes ⁽¹⁾	$	114,385	$	2,977		$	117,362

Equity
Retained earnings⁽¹⁾⁽²⁾	$	1,760,097	$	42,602		$	1,802,699


⁽¹⁾	Differences primarily relate to the timing of revenue recognition for over time customers and certain balance sheet reclassifications.


⁽²⁾	Differences primarily relate to the timing of recognition and recovery of fulfillment costs and certain balance sheet reclassifications.


⁽³⁾	Included within accrued expenses on the Consolidated Balance Sheets.


⁽⁴⁾	Differences included in contract liabilities as of September 1, 2018.

The following table presents the effect of the adoption of the new revenue guidance on the Consolidated Balance Sheets as of August 31, 2019 (in thousands):



	August 31, 2019
	As reported		Balance without the adoption of ASU 2014-09
Assets
Contract assets⁽¹⁾	$	911,940	$	—
Inventories, net ⁽¹⁾	$	3,023,003	$	3,761,591
Prepaid expenses and other current assets ⁽¹⁾⁽²⁾	$	501,573	$	514,769
Deferred income taxes ⁽¹⁾	$	198,827	$	202,791

Liabilities
Contract liabilities ⁽²⁾⁽³⁾	$	511,329	$	—
Deferred income ^(2)(3)(4)	$	—	$	521,035
Other accrued expenses⁽³⁾⁽⁴⁾	$	1,877,908	$	1,868,201
Deferred income taxes ⁽¹⁾	$	115,818	$	111,304

Equity
Retained earnings ⁽¹⁾⁽²⁾	$	2,037,037	$	1,885,360


⁽¹⁾	Differences primarily relate to the timing of revenue recognition for over time customers and certain balance sheet reclassifications.


⁽²⁾	Differences primarily relate to the timing of recognition and recovery of fulfillment costs and certain balance sheet reclassifications.


⁽³⁾	Included within accrued expenses on the Consolidated Balance Sheets.


⁽⁴⁾	Differences included in contract liabilities as of September 1, 2018.

The following table presents the effect of the adoption of the new revenue guidance on the Consolidated Statement of Operations for the fiscal year ended August 31, 2019 (in thousands):



	Fiscal Year Ended
	August 31, 2019
	As reported		Balance without the adoption of ASU 2014-09
Net revenue ⁽¹⁾	$	25,282,320	$	24,864,754
Cost of revenue ⁽²⁾	$	23,368,919	$	23,057,603
Operating income	$	701,356	$	595,105
Income tax expense	$	161,230	$	164,054
Net income	$	289,474	$	180,399


⁽¹⁾	Differences primarily relate to the timing of revenue recognition for over-time customers and to the recovery of fulfillment costs.


⁽²⁾	Differences primarily relate to the timing of cost recognition for over-time customers and the recognition of fulfillment costs.

Revenues Disaggregated by Segment

The following table presents the Company’s revenues disaggregated by segment (in thousands):



	Fiscal Year Ended
	August 31, 2019
	EMS		DMS		Total
Timing of transfer
Point in time	$	2,877,082	$	6,055,716	$	8,932,798
Over time	$	12,553,447	$	3,796,075	$	16,349,522
Total	$	15,430,529	$	9,851,791	$	25,282,320