Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Aug. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Net Gains from Forward Contracts Recorded in Consolidated Statements of Operations

The following table presents the net gains (losses) from forward contracts recorded in the Consolidated Statements of Operations for the periods indicated (in millions):

Derivatives Not Designated as Hedging Instruments Under ASC 815	Location of Gain (Loss) on Derivatives Recognized in Net Income	Amount of Gain (Loss) Recognized in Net Income on Derivatives
		Fiscal Year Ended August 31,
		2021		2020		2019
Forward foreign exchange contracts(1)	Cost of revenue	$	140	$	42	$	(30)

(1)For the fiscal years ended August 31, 2021 and 2020, the Company recognized $105 million and $47 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts. For the fiscal year ended August 31, 2019, the Company recognized $15 million of foreign currency gains in cost of revenue, which are offset by the losses from the forward foreign exchange contracts.

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table presents the interest rate swaps outstanding as of August 31, 2021, which have been designated as hedging instruments and accounted for as cash flow hedges:

Interest Rate Swap Summary	Hedged Interest Rate Payments	Aggregate Notional Amount (in millions)		Effective Date	Expiration Date (1)
Forward Interest Rate Swap
Anticipated Debt Issuance	Fixed	$	250	November 2, 2020	July 31, 2024	(2)
Anticipated Debt Issuance	Fixed	$	150	May 24, 2021	July 31, 2024	(2)

(1)The contracts will be settled with the respective counterparties on a net basis at the expiration date for the forward interest rate swap.

(2)If the anticipated debt issuance occurs before July 31, 2024, the contracts will be terminated simultaneously with the debt issuance.