Accumulated other comprehensive income (loss)

3 Months Ended

Nov. 30, 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 the three months ended November 30, 2023 and 2022 (in millions):

	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2023	$	(698)	$	(6)	$	83	$	(132)	$	(2,240)	$	(2,993)
Other comprehensive income (loss) before reclassification adjustments	77		1		8		(28)		(49)		9
Amounts reclassified from AOCI	(2)		4		(4)		8		(2)		3
Tax benefit (provision)	(19)		—		(1)		5		—		(14)
Net change in other comprehensive income (loss)	56		5		3		(15)		(51)		(2)
Balance at November 30, 2023	$	(642)	$	(1)	$	86	$	(147)	$	(2,291)	$	(2,995)

	Pension/ post-retirement obligations		Unrealized loss on cash flow hedges and other		Net investment hedges		Share of OCI of equity method investments		Cumulative translation adjustments		Total
Balance at August 31, 2022	$	(157)	$	(2)	$	213	$	(254)	$	(2,605)	$	(2,805)
Other comprehensive (loss) income before reclassification adjustments	—		(3)		(39)		(103)		22		(123)
Amounts reclassified from AOCI	(7)		—		—		110		—		103
Tax benefit (provision)	2		1		9		(3)		—		9
Net change in other comprehensive (loss) income	(5)		(2)		(29)		4		22		(11)
Balance at November 30, 2022	$	(162)	$	(4)	$	183	$	(250)	$	(2,583)	$	(2,815)