Financial instruments (Tables)

3 Months Ended

Nov. 30, 2018

Derivative [Line Items]

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

The notional amounts and fair value of derivative instruments outstanding were as follows (in millions):

November 30, 2018	Notional		Fair value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Interest rate swaps	$	250	$	2	Other current liabilities
Cross currency interest rate swaps	400		3		Other non-current assets
Cross currency interest rate swaps	100		—		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	2,476		65		Other current assets
Foreign currency forwards	816		5		Other current liabilities

August 31, 2018	Notional		Fair value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Interest rate swaps	$	250	$	1	Other current liabilities
Foreign currency forwards	15		—		Other current assets
Derivatives not designated as hedges:
Foreign currency forwards	3,273		52		Other current assets
Foreign currency forwards	825		4		Other current liabilities

Not Designated as Hedging Instrument

Derivative [Line Items]

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

The income and (expense) 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	2018		2017
Foreign currency forwards	Selling, general and administrative expenses	$	45	$	(19	)
Foreign currency forwards	Other income (expense)	3		34