Leases (Tables)

12 Months Ended

Aug. 31, 2021

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information

The following table sets forth the amount of lease assets and lease liabilities included on the Company's Consolidated Balance Sheets, as of the periods indicated (in millions):

	Financial Statement Line Item	August 31, 2021		August 31, 2020
Assets
Operating lease assets (1)	Operating lease right-of-use assets	$	390	$	363
Finance lease assets (2)	Property, plant and equipment, net	318		160
Total lease assets		$	708	$	523
Liabilities
Current
Operating lease liabilities	Current operating lease liabilities	$	108	$	111
Finance lease liabilities	Accrued expenses	96		7
Non-current
Operating lease liabilities	Non-current operating lease liabilities	333		302
Finance lease liabilities	Other liabilities	223		161
Total lease liabilities		$	760	$	581

(1)Net of accumulated amortization of $165 million and $96 million as of August 31, 2021 and 2020, respectively.

(2)Net of accumulated amortization of $41 million and $13 million as of August 31, 2021 and 2020, respectively.

Schedule of Expenses and Income and Supplemental Cash Flow Information

The following table is a summary of expenses related to leases included on the Company's Consolidated Statements of Operations, for the periods indicated (in millions):

	Fiscal Year Ended August 31,
	2021		2020
Operating lease cost	$	119	$	114
Finance lease cost
Amortization of leased assets	27		6
Interest on lease liabilities	5		5
Other	27		15
Net lease cost(1)	$	178	$	140

(1)Lease costs are primarily recognized in cost of revenue.

The following table is a summary of the weighted-average remaining lease terms and weighted-average discount rates of the Company's leases, as of the periods indicated:

	August 31, 2021			August 31, 2020
	Weighted-average remaining lease term	Weighted-average discount rate		Weighted-average remaining lease term	Weighted-average discount rate
Operating leases	5.6 years	3.09	%	5.4 years	3.18	%
Finance leases	3.4 years	2.51	%	5.7 years	4.28	%

The following table sets forth other supplemental information related to the Company's lease portfolio (in millions):

	Fiscal Year Ended August 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases(1)	$	121	$	112
Operating cash flows for finance leases(1)	5		5
Financing activities for finance leases(2)	39		6
Non-cash right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	141		91
Finance leases	190		112

(1)Included in accounts payable, accrued expenses and other liabilities in Operating Activities of the Company's Consolidated Statements of Cash Flows.

(2)Included in payments toward debt agreements in Financing Activities of the Company's Consolidated Statements of Cash Flows.

Schedule of Future Minimum Lease Payments Under Operating Leases

The future minimum lease payments under operating and finance leases as of August 31, 2021 were as follows (in millions):

Fiscal Year Ending August 31,	Operating Leases(1)		Finance Leases(1)(2)		Total
2022	$	118	$	101	$	219
2023	90		70		160
2024	75		17		92
2025	57		47		104
2026	40		87		127
Thereafter	109		18		127
Total minimum lease payments	$	489	$	340	$	829
Less: Interest	(48)		(21)		(69)
Present value of lease liabilities	$	441	$	319	$	760

(1)Excludes $72 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.

(2)As of August 31, 2021, the future minimum lease payments exclude $155 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.

Schedule of Future Minimum Lease Payments Under Finance Leases

The future minimum lease payments under operating and finance leases as of August 31, 2021 were as follows (in millions):

Fiscal Year Ending August 31,	Operating Leases(1)		Finance Leases(1)(2)		Total
2022	$	118	$	101	$	219
2023	90		70		160
2024	75		17		92
2025	57		47		104
2026	40		87		127
Thereafter	109		18		127
Total minimum lease payments	$	489	$	340	$	829
Less: Interest	(48)		(21)		(69)
Present value of lease liabilities	$	441	$	319	$	760

(1)Excludes $72 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.

(2)As of August 31, 2021, the future minimum lease payments exclude $155 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.