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Fair value measurements (Tables)
 6 Months Ended
Feb. 28, 2023
Fair Value Disclosures [Abstract]  
Schedule of 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, 2023Level 1Level 2Level 3
Assets:
    
Money market funds 1
$752 $752 $— $— 
Cross currency interest rate swaps 2
58 — 58 — 
Foreign currency forwards 3
27 — 27 — 
Liabilities:
    
Foreign currency forwards 3
$52 $— $52 $— 
Total return swap8 — 8 — 

 August 31, 2022Level 1Level 2Level 3
Assets:
    
Money market funds 1
$1,114 $1,114 $— $— 
Investments in debt securities 4
130 — 130 — 
Cross currency interest rate swaps 2
96 — 96 — 
Foreign currency forwards 3
69 — 69 — 
Investments in equity securities 5
1 1 — — 
Liabilities:
Foreign currency forwards 3
$7 $— $7 $— 
Total return swaps6 — 6 — 

1Money market funds are valued at the closing price reported by the fund sponsor and classified as marketable securities on the Consolidated Condensed Balance Sheets.
2The fair value of cross currency interest rate swaps is calculated by discounting the estimated future cash flows based on the applicable observable yield curves. See Note 8. Financial instruments, for additional information.
3The 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 8. Financial instruments, for additional information.
4Includes investments in Treasury debt securities.
5Fair values of quoted investments are based on current bid prices.