Financial instruments (Tables)

9 Months Ended

May 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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):

May 31, 2019	Notional		Fair value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards	$	37	$	1	Other current assets
Cross currency interest rate swaps	800		39		Other non-current assets
Derivatives not designated as hedges:
Foreign currency forwards	3,105		107		Other current assets
Foreign currency forwards	658		3		Accrued expenses and other liabilities

August 31, 2018	Notional		Fair value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Interest rate swaps	$	250	$	1	Accrued expenses and other 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		Accrued expenses and other liabilities

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 as follows (in millions):

		Three months ended May 31,					Nine months ended May 31,
	Location in Consolidated Condensed Statements of Earnings	2019			2018		2019			2018
Foreign currency forwards	Selling, general and administrative expenses	$	140		$	108	$	80		$	(75	)
Foreign currency forwards	Other income (expense)	(8		)	3		(10		)	36