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Revenue (Tables) | 6 Months Ended
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Feb. 28, 2019
Revenue from Contract with Customer [Abstract] |
Effect of adoption of new revenue guidance | The following table presents the effect of the adoption of the new revenue guidance on the Condensed Consolidated Balance Sheets as of February 28, 2019 (in thousands):
|  | February 28, 2019
|  | As reported |  | Balance without the adoption of ASU 2014-09
Assets |  |  |  |
Contract assets (1) |  | $ | 832,889 |  |  | $ | — |
Inventories, net (1) |  | $ | 3,248,273 |  |  | $ | 3,943,077 |
Prepaid expenses and other current assets (1)(2) |  | $ | 532,223 |  |  | $ | 537,801 |
Deferred income taxes (1)(2) |  | $ | 194,015 |  |  | $ | 198,444 |
Liabilities |  |  |  |
Contract liabilities(2)(3) |  | $ | 583,300 |  |  | $ | — |
Deferred income(2)(3)(4) |  | $ | — |  |  | $ | 571,149 |
Other accrued expenses (3)(4) |  | $ | 1,620,683 |  |  | $ | 1,616,750 |
Deferred income taxes(1) |  | $ | 117,547 |  |  | $ | 113,426 |
Equity |  |  |  |
Retained earnings (1)(2) |  | $ | 1,966,100 |  |  | $ | 1,858,227 |
(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 Condensed 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 three months and six months ended February 28, 2019 (in thousands):
| Three months ended |  | Six months ended
| February 28, 2019 |  | February 28, 2019
| As reported |  | Balance without the adoption of ASU 2014-09 |  | As reported |  | Balance without the adoption of ASU 2014-09
Net revenue (1) | $ | 6,066,990 |  |  | $ | 5,985,439 |  |  | $ | 12,573,265 |  |  | $ | 12,229,174 |
Cost of revenue (2) | $ | 5,612,116 |  |  | $ | 5,556,714 |  |  | $ | 11,598,741 |  |  | $ | 11,317,170 |
Operating income | $ | 153,983 |  |  | $ | 127,835 |  |  | $ | 370,693 |  |  | $ | 308,174 |
Income tax expense | $ | 33,219 |  |  | $ | 36,867 |  |  | $ | 74,032 |  |  | $ | 76,783 |
Net income | $ | 67,607 |  |  | $ | 37,811 |  |  | $ | 191,681 |  |  | $ | 126,411 |
(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.
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
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 Condensed Consolidated Balance Sheets.
(4) | Differences included in contract liabilities as of September 1, 2018.
Revenues disaggregated by segment | The following table presents the Company’s revenues disaggregated by segment (in thousands):
| Three months ended |  | Six months ended
| February 28, 2019 |  | February 28, 2019
| EMS |  | DMS |  | Total |  | EMS |  | DMS |  | Total
Timing of transfer |  |  |  |  |  |  |  |  |  |  |
Point in time | $ | 836,863 |  |  | $ | 1,464,832 |  |  | $ | 2,301,695 |  |  | $ | 1,257,524 |  |  | $ | 3,566,483 |  |  | $ | 4,824,007 |
Over time | $ | 2,967,864 |  |  | $ | 797,431 |  |  | $ | 3,765,295 |  |  | $ | 6,050,306 |  |  | $ | 1,698,952 |  |  | $ | 7,749,258 |
Total | $ | 3,804,727 |  |  | $ | 2,262,263 |  |  | $ | 6,066,990 |  |  | $ | 7,307,830 |  |  | $ | 5,265,435 |  |  | $ | 12,573,265 |

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