Property, Plant and Equipment

12 Months Ended

Aug. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):

	August 31, 2023(1)		August 31, 2022
Land and improvements	$	107	$	108
Buildings	1,281		1,191
Leasehold improvements	676		1,362
Machinery and equipment	4,362		5,627
Furniture, fixtures and office equipment	229		241
Computer hardware and software	840		860
Transportation equipment	7		10
Construction in progress	147		179
Property, plant and equipment	7,649		9,578
Less accumulated depreciation and amortization	4,512		5,624
Property, plant and equipment, net	$	3,137	$	3,954

(1)Excludes $724 million of property, plant and equipment, net classified as held for sale. See Note 16 – “Business Acquisitions and Divestitures” for additional information.

Depreciation and maintenance and repair expenses were as follows for the periods indicated (in millions):

	Fiscal Year Ended August 31,
	2023		2022		2021
Depreciation expense	$	891	$	891	$	828
Maintenance and repair expense	$	431	$	395	$	381

As of August 31, 2023 and 2022, the Company had $357 million and $472 million, respectively, included in accounts payable for the acquisition of property, plant and equipment, which is considered a non-cash investing activity in the Consolidated Statements of Cash Flows.