Asset-Backed Securitization Programs (Tables)

12 Months Ended

Aug. 31, 2021

Transfers and Servicing [Abstract]

Asset-Backed Securitization Programs Amounts Recognized

In connection with the asset-backed securitization programs, the Company recognized the following (in millions):

	Fiscal Year Ended August 31,
	2021(3)		2020		2019(4)
Trade accounts receivable sold	$	4,222	$	4,333	$	4,057
Cash proceeds received(1)	$	4,202	$	4,314	$	4,031
Proceeds due from bank	$	10	$	—	$	—
Pre-tax losses on sale of receivables(2)	$	10	$	19	$	26

(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.

(2)Recorded to other expense within the Consolidated Statements of Operations.

(3)Includes trade accounts receivable sold and cash proceeds received under the foreign asset-backed securitization program through June 28, 2021, except for $99 million of previously sold receivables that were repurchased.

(4)Excludes $650 million of trade accounts receivable sold, $488 million of cash and $14 million of net cash received prior to the amendment of the foreign asset-backed securitization program and under the global asset-backed securitization program which occurred during the first quarter of fiscal year 2019.