Financial instruments (Tables)

12 Months Ended

Aug. 31, 2017

Derivative [Line Items]

Notional Amounts of Derivative Instruments Outstanding

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

2017	Notional1		Fair value		Location in Consolidated Balance Sheets
Derivatives designated as hedges:
Interest rate swaps	$	250	$	—	Other non-current assets
Foreign currency forwards	24		—		Other current assets
Derivatives not designated as hedges:
Foreign currency forwards	221		—		Other current assets
Foreign currency forwards	2,816		19		Other current liabilities

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

2016	Notional1		Fair value		Location in Consolidated Balance Sheets
Derivatives designated as hedges:
Interest rate swaps	$	250	$	3	Other non-current assets
Derivatives not designated as hedges:
Foreign currency forwards	1,177		16		Other current assets
Foreign currency forwards	41		—		Other current liabilities
Basis swap	2		1		Other current liabilities

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

Derivatives not designated as hedges:

Derivative [Line Items]

Gains and Losses due to Changes in Fair Value Recognized in Earnings

These derivative instruments are economic hedges of interest rate and foreign currency risks. The gains and (losses) due to changes in fair value of these derivative instruments were recognized in earnings as follows (in millions):

	Location in Consolidated Statements of Earnings	2017			2016			2015
Interest rate swaps	Interest expense, net	$	—		$	—		$	1
Foreign currency forwards	Selling, general and administrative expense	11			19			78
Second Step Transaction foreign currency forwards	Other income (expense)	—			—			(166		)
Foreign currency forwards	Other income (expense)	(48		)	(12		)	72

Warrants | Derivatives not designated as hedges:

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 the warrants recognized in earnings were as follows (in millions):

	Location in Consolidated Statements of Earnings	2017		2016			2015
Warrants	Other income (expense)	$	—	$	(546	)	$	759