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Financial instruments (Tables)
 9 Months Ended
May 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts, Fair Value and Balance Sheet Presentation of Derivative Instruments Outstanding
The notional amounts and fair value of derivative instruments outstanding were as follows (in millions):

May 31, 2024Notional Fair
Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Cross currency interest rate swaps$400 $8 Other current assets
Foreign currency forwards283 1 Other current assets
Cross currency interest rate swaps250 10 Other non-current assets
Foreign currency forwards4 — Other non-current assets
Foreign currency forwards614 2 Other current liabilities
Foreign currency forwards2 — Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards$1,593 $1 Other current assets
Total return swaps159 1 Other current assets
Foreign currency forwards2,415 9 Other current liabilities
Total return swaps43 — Other current liabilities
Variable prepaid forward contracts408 407 Other current liabilities
Variable prepaid forward contracts 3,318 3,298 Other non-current liabilities

August 31, 2023NotionalFair
Value		Location in Consolidated Condensed Balance Sheets
Derivatives designated as hedges:
Foreign currency forwards$31 $1 Other current assets
Cross currency interest rate swaps650 28 Other non-current assets
Foreign currency forwards805 2 Other current liabilities
Cross currency interest rate swaps102 2 Other current liabilities
Foreign currency forwards4 — Other non-current liabilities
Derivatives not designated as hedges:
Foreign currency forwards$3,139 $6 Other current assets
Total return swaps168 1 Other current assets
Foreign currency forwards817 2 Other current liabilities
Total return swaps26 1 Other current liabilities
Variable prepaid forward contracts 3,195 2,548 Other non-current liabilities
Schedule of Derivative Instruments
The terms of the VPF transactions were as follows (in millions):
Transaction dateShares pledged and maximum shares subject to forward salePrepayment amountForward settlement date
May 11, 20234.6$644 Fourth quarter, fiscal 2025
June 15, 20232.2325Third quarter, fiscal 2025
August 3, 20235.3801First quarter, fiscal 2026
August 4, 20235.3797Third quarter, fiscal 2026
November 9, 20232.7424Fourth quarter, fiscal 2026
20.0$2,991 
Gains and (Losses) due to Changes in Fair Value Recognized in Earnings
The income (expense) due to changes in fair value of derivative instruments were recognized in the Consolidated Condensed Statements of Earnings as follows (in millions):
  Three months ended May 31,Nine months ended May 31,
 Location in Consolidated Condensed Statements of Earnings2024202320242023
Total return swapsSelling, general and administrative expenses$2 $2 19 $2 
Foreign currency forwards
Other income, net 1
(14)(112)19 (203)
Variable prepaid forwardOther income, net155 (26)(733)(26)

1.Excludes remeasurement gains and losses on economically hedged assets and liabilities.