Accumulated other comprehensive income (loss)

12 Months Ended

Aug. 31, 2023

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

Accumulated other comprehensive income (loss)

Accumulated other comprehensive income (loss)

The following is a summary of net changes in accumulated other comprehensive income (loss) (“AOCI”) by component and net of tax for fiscal 2023, 2022 and 2021 (in millions):

	Pension/post-retirement obligations		Unrealized gain (loss) on cash flow hedges		Net investment hedges		Unrealized gain (loss) on available for sale debt securities		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	532		10		(6)		127		(24)		384		1,022
Amounts reclassified from AOCI	(8)		17		—		—		—		(3)		6
Business disposal	(4)		—		—		—		—		795		792
Tax (provision) benefit	(132)		(6)		6		(31)		6		—		(157)
Net change in other comprehensive income (loss)	389		21		(1)		96		(18)		1,176		1,663
Balance at August 31, 2021	$	(359)	$	(10)	$	(35)	$	96	$	(29)	$	(1,772)	$	(2,109)
Other comprehensive income (loss) before reclassification adjustments	278		6		327		451		(326)		(833)		(97)
Amounts reclassified from AOCI	(22)		3		—		(577)		31		—		(565)
Other	(6)		—		—		—		—		—		(6)
Tax (provision) benefit	(48)		(2)		(79)		32		70		—		(27)
Net change in other comprehensive income (loss)	203		7		248		(95)		(226)		(833)		(696)
Balance at August 31, 2022	$	(157)	$	(3)	$	213	$	1	$	(254)	$	(2,605)	$	(2,805)
Other comprehensive (loss) income before reclassification adjustments	(705)		(7)		(172)		(2)		6		379		(500)
Amounts reclassified from AOCI	(26)		4		—		—		158		(14)		121
Tax benefit (provision)	190		—		42		1		(42)		—		190
Net change in other comprehensive (loss) income	(541)		(2)		(130)		(2)		122		364		(189)
Balance at August 31, 2023	$	(698)	$	(5)	$	83	$	—	$	(132)	$	(2,240)	$	(2,993)