Asset-Backed Securitization Program (Tables)

6 Months Ended

Feb. 28, 2022

Transfers and Servicing [Abstract]

Schedule of Asset-backed Securitization Programs Amounts Recognized

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

	Three months ended				Six months ended
	February 28, 2022		February 28, 2021(4)		February 28, 2022		February 28, 2021(4)
Trade accounts receivable sold(1)	$	1,000	$	1,140	$	2,032	$	2,313
Cash proceeds received(2)	$	999	$	1,137	$	2,029	$	2,308
Pre-tax losses on sale of receivables(3)	$	1	$	3	$	3	$	5

(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.

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

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

(4)Activity includes the foreign asset-backed securitization program which terminated on June 28, 2021.