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Fair value measurements (Tables)
 6 Months Ended
Feb. 28, 2021
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis were as follows (in millions):
 February 28, 2021Level 1Level 2Level 3
Assets:
    
Money market funds1
$337 $337 $— $— 
Investments in equity securities2
13 13 — — 
Investments in debt securities3
520 — — 520 
Foreign currency forwards4
11 — 11 — 
Interest rate swaps5
7 — 7 — 
Warrants2 — 2 — 
Liabilities:
    
Foreign currency forwards4
$58 $— $58 $— 
Cross currency interest rate swaps5
56 — 56 — 
Total return swap4 — 4 — 

 August 31, 2020Level 1Level 2Level 3
Assets:
    
Money market funds1
$6 $6 $— $— 
Investments in equity securities2
1 1 — — 
Foreign currency forwards4
20 — 20 — 
Cross currency interest rate swaps5
16 — 16 — 
Liabilities:
    
Foreign currency forwards4
$80 $— $80 $— 
Cross currency interest rate swaps5
16 — 16 — 
Interest rate swaps5
10— 10— 
Total return swap1— 1— 

1Money market funds are valued at the closing price reported by the fund sponsor.
2Fair values of quoted investments are based on current bid prices as of February 28, 2021 and August 31, 2020.
3Level 3 debt securities are valued using standard valuation techniques based on income and market approach.
4The fair value of forward currency contracts is estimated by discounting the difference between the contractual forward price and the current available forward price for the residual maturity of the contract using observable market rates. See Note 9 Financial instruments, for additional information.
5The fair value of cross currency interest rate swaps and interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 9 Financial instruments, for additional information.