Financial instruments (Tables)

9 Months Ended

May 31, 2017

Derivative [Line Items]

Notional Amounts, Fair Value and Balance Sheet Presentation of Derivative Instruments Outstanding

The notional amounts, fair value and balance sheet presentation of derivative instruments outstanding as of May 31, 2017 and August 31, 2016 are as follows (in millions):

	May 31, 2017				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	$	—	$	—	$	—	Other non-current liabilities
Interest rate swaps	—		—		250		3		Other non-current assets
Derivatives not designated as hedges:
Foreign currency forwards	133		—		1,177		16		Other current assets
Foreign currency forwards	976		5		41		—		Accrued expenses and other liabilities
Basis swaps	2		—		—		—		Accrued expenses and other liabilities
Basis swaps	—		—		2		1		Other current assets

¹  Amounts are presented in U.S. dollar equivalents, as applicable.

Not Designated as Hedging Instrument

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					Nine months ended
	Location in Consolidated Condensed Statements of Earnings	May 31, 2017			May 31, 2016		May 31, 2017			May 31, 2016
Foreign currency forwards	Selling, general and administrative expenses	$	(19	)	$	24	$	28		$	(1	)
Foreign currency forwards	Other income (expense)	(1		)	4		(15		)	37