Accumulated other comprehensive income (loss)

3 Months Ended

Nov. 30, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated other comprehensive income (loss)

Accumulated other comprehensive income (loss)

The following is a summary of net changes in accumulated other comprehensive income (“AOCI”) by component and net of tax for the three months ended November 30, 2019 and 2018 (in millions):

	Pension/ post-retirement obligations		Unrealized gain (loss) on cash flow hedges1		Net investment hedges1		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2019	$	(48)	$	(24)	$	55	$	3	$	(3,884)	$	(3,897)
Other comprehensive income (loss) before reclassification adjustments	(12)		(1)		(55)		(10)		642		564
Amounts reclassified from AOCI	2		1				—		—		3
Tax benefit (provision)	2		—		13		2		—		17
Net change in other comprehensive income (loss)	(7)		—		(42)		(8)		642		585
Balance at November 30, 2019	$	(55)	$	(24)	$	14	$	(5)	$	(3,242)	$	(3,313)

	Pension/ post-retirement obligations		Unrealized gain (loss) on cash flow hedges1		Net investment hedges1		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2018	$	101	$	(30)	$	—	$	3	$	(3,076)	$	(3,002)
Other comprehensive income (loss) before reclassification adjustments	—		3		—		1		(228)		(224)
Amounts reclassified from AOCI	(4)		1		—		—		—		(3)
Tax benefit (provision)	—		(1)		—		—		(1)		(2)
Net change in other comprehensive income (loss)	(4)		3		—		1		(229)		(229)
Balance at November 30, 2018	$	97	$	(27)	$	—	$	4	$	(3,305)	$	(3,231)

¹ Previously disclosed as unrealized gain (loss) on hedges.