Notes Payable and Long-Term Debt (Tables)

3 Months Ended

Nov. 30, 2021

Debt Disclosure [Abstract]

Schedule of Notes Payable and Long-term Debt

Notes payable and long-term debt outstanding as of November 30, 2021 and August 31, 2021 are summarized below (in millions): 

	Maturity Date	November 30, 2021		August 31, 2021
4.700% Senior Notes	Sep 15, 2022	$	500	$	499
4.900% Senior Notes	Jul 14, 2023	300		300
3.950% Senior Notes	Jan 12, 2028	496		496
3.600% Senior Notes	Jan 15, 2030	495		495
3.000% Senior Notes	Jan 15, 2031	591		591
1.700% Senior Notes	Apr 15, 2026	496		496
Borrowings under credit facilities(1)	Jan 22, 2024 and Jan 22, 2026	—		—
Borrowings under loans	Jul 31, 2026	1		1
Total notes payable and long-term debt		2,879		2,878
Less current installments of notes payable and long-term debt		500		—
Notes payable and long-term debt, less current installments		$	2,379	$	2,878

(1)As of November 30, 2021, the Company has $3.8 billion in available unused borrowing capacity under its revolving credit facilities. The senior unsecured credit agreement dated as of January 22, 2020 and amended on April 28, 2021 (the “Credit Facility”) acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $1.8 billion under its commercial paper program.