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Financial Instruments (Tables)
 3 Months Ended
Nov. 30, 2016
Financial Instruments [Abstract]  
Notional Amounts of Derivative Instruments Outstanding
The notional amounts, fair value and balance sheet presentation of derivative instruments outstanding as of November 30, 2016 and August 31, 2016 are as follows (in millions):

  
November 30, 2016
  
August 31, 2016
  
  
Notional(1)
  
Fair
Value
  
Notional(1)
  
Fair
Value
 
Location in Consolidated
Condensed Balance Sheets
Derivatives designated as fair value hedges:
                 
Interest rate swaps
 
$
250
  
$
-
  
$
250
  
$
3
 
Other non-current assets
Derivatives not designated as hedges:
                     
Foreign currency forwards
  
786
   
11
   
1,177
   
16
 
Other current assets
Foreign currency forwards
  
304
   
2
   
41
   
-
 
Other current liabilities
Basis swaps
  
2
   
1
   
2
   
1
 
Other current liabilities

(1)
Amounts are presented in U.S. dollar equivalents, as applicable.
Not Designated as Hedging Instrument [Member]  
Derivative [Line Items]  
Gains and (Losses) due to Changes in Fair Value Recognized in Earnings
The gains and (losses) due to changes in fair value of these derivative instruments were recognized in earnings as follows (in millions):

   
Three Months Ended
November 30,    
 
 
Location in Consolidated Condensed
Statements of Earnings
  
2016
   
2015
 
Foreign currency forwards
Selling, general and administrative expense
 
$
50
  
$
(2
)
Foreign currency forwards
Other income (expense)
 
$
1
 
 
$
-