Accumulated other comprehensive income (loss) (Tables)

12 Months Ended

Aug. 31, 2020

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

Components of accumulated other comprehensive income (loss)

The following is a summary of net changes in accumulated other comprehensive income by component and net of tax for fiscal 2020, 2019 and 2018 (in millions):

	Pension/post-retirement obligations		Unrealized gain (loss) on cash flow hedges		Net investment hedges2		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2017	$	(139)	$	(33)	$	—	$	(2)	$	(2,877)	$	(3,051)
Other comprehensive income (loss) before reclassification adjustments	417		—		—		(4)		(207)		206
Amounts reclassified from AOCI1	(120)		4		—		11		8		(97)
Tax benefit (provision)	(57)		(1)		—		(2)		—		(60)
Net change in other comprehensive income (loss)	240		3		—		5		(199)		49
Balance at August 31, 2018	$	101	$	(30)	$	—	$	3	$	(3,076)	$	(3,002)
Other comprehensive income (loss) before reclassification adjustments	(162)		1		73		(1)		(801)		(889)
Amounts reclassified from AOCI	(17)		5		—		—		—		(12)
Tax benefit (provision)	30		(1)		(18)		—		(6)		5
Net change in other comprehensive income (loss)	(149)		5		55		(1)		(807)		(896)
Balance at August 31, 2019	$	(48)	$	(24)	$	55	$	3	$	(3,884)	$	(3,897)
Other comprehensive income (loss) before reclassification adjustments	(861)		(12)		(113)		(16)		934		(69)
Amounts reclassified from AOCI	(8)		5		—		—		3		—
Tax benefit (provision)	169		1		23		3		(1)		195
Net change in other comprehensive income (loss)	(700)		(6)		(90)		(13)		936		126
Balance at August 31, 2020	$	(748)	$	(31)	$	(34)	$	(10)	$	(2,948)	$	(3,771)

¹Includes amendment to U.S. postretirement healthcare plan resulting in a curtailment gain. See note 13, retirement benefits.

²Previously disclosed as Unrealized gain (loss) on cash flow hedges.