Debt

3 Months Ended

Nov. 30, 2024

Debt Disclosure [Abstract]

Debt

Debt

Debt carrying values are presented net of unamortized discount and debt issuance costs, where applicable, and foreign currency denominated debt is translated to the U.S. dollar using the spot rates as of the balance sheet date (all amounts are presented in millions of U.S. dollars and debt issuances are denominated in U.S. dollars, unless otherwise noted).

	Current portion		Non-current portion		Total
Long-term debt balances as of August 31, 2024	$	1,505	$	8,044	$	9,549
Repayments of long-term debt	(1,447)		—		(1,447)
Reclassifications of long-term debt	379		(379)		—
Exchange rate changes and other	8		(54)		(46)
Long-term debt balances as of November 30, 2024	$	446	$	7,611	$	8,056
Revolving credit facilities	$	—	$	—	$	—
Commercial paper	—		—		—
Total debt balances as of November 30, 2024	$	446	$	7,611	$	8,056

Long-term debt

The Company’s long-term debt balances include bonds, notes, amounts borrowed under delayed draw term credit facilities (“DDTL facilities”), and certain other balances. Amounts borrowed under DDTL facilities that are repaid or prepaid may not be reborrowed.

Repayments of long-term debt

During the three months ended November 30, 2024, the Company repaid in full the $1.2 billion of principal and interest on the 3.800% unsecured notes due 2024 which matured on November 18, 2024. During the same period, the Company also repaid $290 million of principal and interest on the final tranche of a $5.0 billion senior unsecured multi-tranche delayed draw term loan credit facility (the “November 2021 DDTL”) that matured on November 24, 2024. As of November 30, 2024, all tranches available under the November 2021 DDTL have matured and been repaid in full.

Credit facilities

As of November 30, 2024, the Company had an aggregate borrowing capacity under committed revolving credit facilities of $5.8 billion. The Company utilizes its revolving credit facilities for short term working capital and general corporate purposes.

Debt covenants

Each of the Company’s credit facilities, including its DDTL facilities, contains a covenant to maintain, as of the last day of each fiscal quarter, a ratio of consolidated debt to total capitalization not to exceed 0.60:1.00, subject to increase in certain circumstances set forth in the applicable credit agreement. The credit facilities contain various other customary financial covenants. As of November 30, 2024, the Company was in compliance with all such applicable financial covenants.