Accumulated other comprehensive income (loss)

6 Months Ended

Feb. 28, 2022

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

Accumulated other comprehensive income (loss)

Note 14. 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 and six months ended February 28, 2022 and 2021 (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 November 30, 2021	$	(364)	$	(9)	$	9	$	(74)	$	(1,863)	$	(2,301)
Other comprehensive income (loss) before reclassification adjustments	1		—		(22)		(105)		78		(48)
Amounts reclassified from AOCI	(5)		1		—		—		3		(1)
Other	(6)		—		—		—		—		(6)
Tax benefit	2		—		2		26		—		29
Net change in other comprehensive income (loss)	(8)		—		(20)		(80)		81		(26)
Balance at February 28, 2022	$	(372)	$	(9)	$	(11)	$	(154)	$	(1,782)	$	(2,328)

	Pension/ post- retirement obligations		Unrealized gain (loss) on cash flow hedges		Net investment hedges		Unrealized gain (loss) on AFS		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2021	$	(359)	$	(10)	$	(35)	$	96	$	(29)	$	(1,772)	$	(2,109)
Other comprehensive income (loss) before reclassification adjustments	—		—		31		450		(165)		(9)		307
Amounts reclassified from AOCI	(11)		1		—		(577)		—		(1)		(587)
Other	(6)		—		—		—		—		—		(6)
Tax benefit (provision)	3		(1)		(8)		31		40		—		66
Net change in other comprehensive income (loss)	(13)		1		24		(96)		(125)		(10)		(220)
Balance at February 28, 2022	$	(372)	$	(9)	$	(11)	$	—	$	(154)	$	(1,782)	$	(2,328)

	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 November 30, 2020	$	(736)	$	(27)	$	(41)	$	(5)	$	(2,873)	$	(3,682)
Other comprehensive income (loss) before reclassification adjustments	(1)		10		(65)		13		402		359
Amounts reclassified from AOCI	(2)		1		—		—		2		1
Tax benefit (provision)	1		(3)		16		2		—		16
Net change in other comprehensive income (loss)	(2)		9		(49)		15		404		376
Balance at February 28, 2021	$	(739)	$	(18)	$	(90)	$	10	$	(2,469)	$	(3,306)

	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	16		14		(80)		19		474		444
Amounts reclassified from AOCI	(4)		3		—		—		5		4
Tax benefit (provision)	(3)		(4)		24		1		—		17
Net change in other comprehensive income (loss)	9		13		(56)		20		479		465
Balance at February 28, 2021	$	(739)	$	(18)	$	(90)	$	10	$	(2,469)	$	(3,306)