Financial instruments (Tables)

12 Months Ended

Aug. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional amounts of derivative instruments outstanding

The notional amounts and fair value of derivative instruments outstanding were as follows (in millions):

August 31, 2022	Notional		Fair value		Location in Consolidated Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards	$	448	$	19	Other current assets
Cross currency interest rate swaps	150		12		Other current assets
Cross currency interest rate swaps	750		83		Other non-current assets
Foreign currency forwards	3		—		Other non-current assets
Foreign currency forwards	221		1		Other current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	$	2,874	$	49	Other current assets
Foreign currency forwards	1,098		6		Other current liabilities
Total return swap	183		6		Other current liabilities

August 31, 2021	Notional		Fair value		Location in Consolidated Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards	$	575	$	7	Other current assets
Cross currency interest rate swaps	155		1		Other non-current assets
Foreign currency forwards	6		—		Other non-current assets
Foreign currency forwards	31		1		Other current liabilities
Cross currency interest rate swaps	109		9		Other current liabilities
Cross currency interest rate swaps	801		23		Other non-current liabilities
Foreign currency forwards	23		1		Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards	$	3,636	$	38	Other current assets
Total return swap	224		2		Other current assets
Foreign currency forwards	808		3		Other current liabilities
Total return swap	37		—		Other current liabilities

Gains and losses due to changes in fair value recognized in earnings

	Location in Consolidated Statements of Earnings	2022		2021		2020
Foreign currency forwards	Selling, general and administrative expense 1	$	—	$	(75)	$	(63)
Total return swap	Selling, general and administrative expense	(33)		58		24
Foreign currency forwards	Other income, net 1,2	523		(8)		11