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Revenue
3 Months Ended
Nov. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents the Company’s revenues by segment and major source (in thousands):
Three Months Ended November 30, 2023
AmericasEIMEAAsia-PacificTotal
WD-40 Multi-Use Product$48,511 $37,044 $22,122 $107,677 
WD-40 Specialist7,108 6,666 3,068 16,842 
Other maintenance products (1)
4,126 3,062 438 7,626 
Total maintenance products59,745 46,772 25,628 132,145 
HCCP (2)
4,330 1,982 1,959 8,271 
Total net sales$64,075 $48,754 $27,587 $140,416 
Three Months Ended November 30, 2022
AmericasEIMEAAsia-PacificTotal
WD-40 Multi-Use Product$43,157 $30,178 $21,252 $94,587 
WD-40 Specialist6,825 6,011 2,570 15,406 
Other maintenance products (1)
3,589 2,540 190 6,319 
Total maintenance products53,571 38,729 24,012 116,312 
HCCP (2)
4,443 2,043 2,095 8,581 
Total net sales$58,014 $40,772 $26,107 $124,893 
(1)Other maintenance products consist of the 3-IN-ONE and GT85 brands.
(2)Homecare and cleaning products (“HCCP”).
Contract Balances
Contract liabilities consist of deferred revenue related to undelivered products. Deferred revenue is recorded when payments have been received from customers for undelivered products. Revenue is subsequently recognized when revenue recognition criteria are met, generally when control of the product transfers to the customer. The Company had contract liabilities of $3.1 million and $4.6 million as of November 30, 2023 and August 31, 2023, respectively. Substantially all of the $4.6 million that was included in contract liabilities as of August 31, 2023 was recognized to revenue during the three months ended November 30, 2023. These contract liabilities are recorded in accrued liabilities on the Company’s condensed consolidated balance sheets. Contract assets are recorded if the Company has satisfied a performance obligation but does not yet have an unconditional right to consideration. The Company did not have any contract assets as of November 30, 2023 and August 31, 2023. The Company has an unconditional right to payment for its trade and other accounts receivable on the Company’s condensed consolidated balance sheets. These receivables are presented net of an allowance for credit losses, which was insignificant as of November 30, 2023 and August 31, 2023.