Financial instruments (Tables)

3 Months Ended

Nov. 30, 2019

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, 2019	Notional		Fair value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps	$	805	$	26	Other non-current assets
Cross currency interest rate swaps	50		—		Other current assets
Cross currency interest rate swaps	50		—		Other current liabilities
Cross currency interest rate swaps	207		7		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	1,653		16		Other current assets
Foreign currency forwards	2,519		79		Other current liabilities

August 31, 2019	Notional		Fair value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps	$	800	$	73	Other non-current assets
Foreign currency forwards	18		1		Other current assets
Derivatives not designated as hedges:
Foreign currency forwards	3,485		87		Other current assets
Foreign currency forwards	707		6		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 (expenses) 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	2019		2018
Foreign currency forwards	Selling, general and administrative (expenses) income	$	(74)	$	45
Foreign currency forwards	Other income	11		3