Summary of major accounting policies (Tables)

12 Months Ended

Aug. 31, 2020

Restrictions on Cash and Cash Equivalents [Table Text Block]

The following represents a reconciliation of cash and cash equivalents in the Consolidated Balance Sheets to total cash, cash equivalents and restricted cash in the Consolidated Statements of Cash Flows as of August 31, 2020 and 2019, (in millions):


	August 31, 2020		August 31, 2019
Cash and cash equivalents	$	516	$	1,023
Restricted cash (included in other current assets)	230		184
Cash, cash equivalents and restricted cash	$	746	$	1,207

Schedule of property, plant and equipment

The following table summarizes the Company’s property, plant and equipment (in millions) and estimated useful lives (in years):


	Estimated useful life	2020		2019
Land and land improvements	20	$	3,253	$	3,507
Buildings and building improvements	3 to 50	8,023		8,023
Fixtures and equipment	3 to 20	10,290		9,786
Capitalized system development costs and software	3 to 10	3,215		2,770
Finance lease properties		1,016		703
		25,797		24,789
Less: accumulated depreciation and amortization		12,456		11,310
Balance at end of year		$	13,342	$	13,478

Schedule of new accounting pronouncements and changes in accounting principles

The impact to the Company's opening Consolidated Balance Sheets as of September 1, 2019 was as follows (in millions):


	As reported August 31, 2019		Adjustments		As revised September 1, 2019
Consolidated Balance Sheets
Other current assets	$	1,118	$	(123)	$	995
Total current assets	18,700		(123)		18,577
Property, plant and equipment, net	13,478		267		13,745
Operating lease right-of-use asset	—		21,600		21,600
Intangible assets, net	10,876		(220)		10,656
Total assets	67,598		21,524		89,122
Operating lease obligation - current	—		2,267		2,267
Accrued expenses and other liabilities	5,474		(538)		4,936
Total current liabilities	25,769		1,729		27,498
Operating lease obligation - non-current	—		21,858		21,858
Deferred income taxes	1,785		(142)		1,643
Other non-current liabilities	4,795		(1,479)		3,316
Total non-current liabilities	17,678		20,237		37,915
Retained earnings	35,815		(442)		35,373
Total liabilities and equity	$	67,598	$	21,524	$	89,122