Derivative Financial Instruments and Hedging Activities (Tables)

3 Months Ended

Nov. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

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

Derivatives Not Designated as Hedging Instruments Under ASC 815	Location of (Loss) Gain on Derivatives Recognized in Net Income	Amount of (Loss) Gain Recognized in Net Income on Derivatives
		Three months ended
		November 30, 2022		November 30, 2021
Forward foreign exchange contracts(1)	Cost of revenue	$	(46)	$	38

(1)For the three months ended November 30, 2022, the Company recognized $49 million of foreign currency gains in cost of revenue, which are offset by the losses from the forward foreign exchange contracts. For the three months ended November 30, 2021, the Company recognized $27 million of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts.

Schedule of Interest Rate Swaps Outstanding

The following table presents the interest rate swaps outstanding as of November 30, 2022, which have been designated as hedging instruments and are accounted for as cash flow hedges (in millions):

Interest Rate Swap Summary	Hedged Interest Rate Payments	Aggregate Notional Amount		Effective Date	Expiration Date
Forward Interest Rate Swap
Anticipated Debt Issuance	Fixed	$	150	May 24, 2021	July 31, 2024	(1)(2)
Anticipated Debt Issuance	Fixed	$	100	August 8, 2022	July 31, 2024	(1)(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.