Accumulated other comprehensive income (loss) (Tables)

3 Months Ended

Nov. 30, 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 (“AOCI”) by component and net of tax for the three months ended November 30, 2020 and November 30, 2019 (in millions):

	Pension/ post-retirement obligations		Unrealized gain (loss) on cash flow hedges		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2020	$	(748)	$	(31)	$	(34)	$	(10)	$	(2,948)	$	(3,771)
Other comprehensive income (loss) before reclassification adjustments	17		4		(14)		7		72		85
Amounts reclassified from AOCI	(2)		1		—		—		3		2
Tax benefit (provision)	(4)		(1)		8		(1)		—		1
Net change in other comprehensive income (loss)	11		4		(7)		5		75		88
Balance at November 30, 2020	$	(736)	$	(27)	$	(41)	$	(5)	$	(2,873)	$	(3,682)

	Pension/ post-retirement obligations		Unrealized gain (loss) on cash flow hedges1		Net investment hedges		Share of AOCI 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)