Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2021

Accounting Policies [Abstract]

Schedule of Components of Property, Plant and Equipment

Estimated useful lives for major classes of depreciable assets are as follows:

Asset Class	Estimated Useful Life
Buildings	Up to 35 years
Leasehold improvements	Shorter of lease term or useful life of the improvement
Machinery and equipment	2 to 10 years
Furniture, fixtures and office equipment	5 years
Computer hardware and software	3 to 7 years
Transportation equipment	3 years

Property, plant and equipment consists of the following (in millions):

	August 31, 2021		August 31, 2020
Land and improvements	$	143	$	142
Buildings	1,216		1,152
Leasehold improvements	1,249		1,144
Machinery and equipment	5,216		4,686
Furniture, fixtures and office equipment	234		222
Computer hardware and software	819		760
Transportation equipment	9		9
Construction in progress	222		76
	9,108		8,191
Less accumulated depreciation and amortization	5,033		4,526
	$	4,075	$	3,665

Summary of Changes in AOCI

The following table sets forth the changes in AOCI, net of tax, by component during the fiscal year ended August 31, 2021 (in millions):

	Foreign Currency Translation Adjustment		Derivative Instruments		Actuarial Gain (Loss)		Prior Service (Cost) Credit		Total
Balance as of August 31, 2020	$	(37)	$	(30)	$	34	$	(1)	$	(34)
Other comprehensive income (loss) before reclassifications	17		35		33		(20)		65
Amounts reclassified from AOCI	—		(41)		(16)		1		(56)
Other comprehensive income (loss)(1)	17		(6)		17		(19)		9
Balance as of August 31, 2021	$	(20)	$	(36)	$	51	$	(20)	$	(25)

(1)Amounts are net of tax, which are immaterial.

Reclassification out of Accumulated Other Comprehensive Income

The following table sets forth the amounts reclassified from AOCI into the Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):

		Fiscal Year Ended August 31,
Comprehensive Income Components	Financial Statement Line Item	2021		2020		2019
Realized (gains) losses on derivative instruments:(1)
Foreign exchange contracts	Cost of revenue	$	(44)	$	15	$	22
Interest rate contracts	Interest expense	3		(1)		(2)
Actuarial (gain) loss	(2)	(16)		(3)		1
Prior service cost	(2)	1		—		—
Available for sale securities	(Gain) loss on securities	—		36		33
Total amounts reclassified from AOCI(3)		$	(56)	$	47	$	54

(1)The Company expects to reclassify $6 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.

(2)Amounts are included in the computation of net periodic benefit pension cost. Refer to Note 10 – “Postretirement and Other Employee Benefits” for additional information.

(3)Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2021, 2020 and 2019.

Schedule of Dilutive Shares Outstanding Not Included in the Computation of Earnings Per Share

Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):

	Fiscal Year Ended August 31,
	2021	2020	2019
Restricted stock units	655.0	728.3	795.8