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Fair Value Measurements (Tables)
 6 Months Ended
Feb. 28, 2017
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis are as follows (in millions):
 
February 28, 2017
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Restricted cash (1)
$
170

 
$
170

 
$
—

 
$
—

Money market funds (2)
10,106

 
10,106

 
—

 
—

Available-for-sale investments (3)
28

 
28

 
—

 
—

Foreign currency forwards (4)
2

 
—

 
2

 


Liabilities:
 

 
 

 
 

 
 

Foreign currency forwards (4)
11

 
—

 
11

 
—

Basis swaps (4)
1

 
—

 
1

 
—

Interest rate swaps (5)
1

 
—

 
1

 
—

 
August 31, 2016
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Restricted cash (1)
$
185

 
$
185

 
$
—

 
$
—

Money market funds (2)
9,133

 
9,133

 
—

 
—

Available-for-sale investments (3)
32

 
32

 
—

 
—

Interest rate swaps (5)
3

 
—

 
3

 
—

Foreign currency forwards (4)
16

 
—

 
16

 
—

Liabilities:
 

 
 

 
 

 
 

Basis swaps (4)
1

 
—

 
1

 
—


(1) 
Restricted cash consists of deposits restricted under agency agreements and cash restricted by law and other obligations.
(2) 
Money market funds are valued at the closing price reported by the fund sponsor.
(3) 
Fair values of quoted investments are based on current bid prices as of the balance sheet dates.
(4) 
The fair value of basis swaps and forward currency contracts is estimated by discounting the difference between the contractual forward price and the current available forward price for the residual maturity of the contract using observable market rates.
(5) 
The fair value of interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 7, Financial Instruments for additional information.