Revenue Recognition: Membership fee revenue represents annual membership fees paid by substantially all of the Company's members. The Company accounts for membership fee revenue on a deferred basis, whereby revenue is recognized ratably over the one-year term of the membership period. 52 weeks ended Membership fees Revenue ($ millions) September 3, 2006 Net Sales $58,963 1,188 52 weeks ended 52 weeks ended August 28, 2005 August 29, 2004 $51,879 1,073 $47,149 961 Total revenue $ 60,151 $ 52,952 $ 48,110 Current Liabilities ($ millions) September 3, 2006 August 28, 2005 Short-term borrowings $ 41 $ 54 Accounts payable 4,581 4,225 Accrued salaries and benefits 1,080 1,025 Accrued sales and other taxes 324 264 Deferred membership fees 584 501 Current potion of long-term debt Other current liabilities 309 3 899 689 Total revenue $ 7,818 $ 6,761