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Financial instruments (Tables)
 6 Months Ended
Feb. 28, 2018
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 February 28, 2018 and August 31, 2017 are as follows (in millions):
 
February 28, 2018
 
August 31, 2017
 
 
 
Notional 1
 
Fair value
 
Notional 1
 
Fair value
 
Location in Consolidated
Condensed Balance Sheets
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
—

 
$
250

 
$
—

 
Other non-current assets
Interest rate swaps
250

 
2

 
—

 
—

 
Other current liabilities
Foreign currency forwards
—

 
—

 
24

 
—

 
Other current assets
Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
 
Foreign currency forwards
198

 
1

 
221

 
—

 
Other current assets
Foreign currency forwards
3,177

 
61

 
2,816

 
19

 
Other current liabilities

1 
Amounts are presented in U.S. dollar equivalents, as applicable.
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 these derivative instruments were recognized in earnings as follows (in millions):
 
 
 
Three months ended
February 28,
 
Six months ended
February 28,
 
Location in Consolidated Condensed
Statements of Earnings
 
2018
 
2017
 
2018
 
2017
Foreign currency forwards
Selling, general and administrative expenses
 
$
(164
)
 
$
(2
)
 
$
(183
)
 
$
47

Foreign currency forwards
Other income (expense)
 
(1
)
 
(15
)
 
33

 
(14
)