Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Aug. 31, 2023

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives for Major Classes of Depreciable Assets

Estimated useful lives for major classes of depreciable assets are as follows:

Asset Class	Estimated Useful Life
Buildings	Up to 35 years
Leasehold improvements	Shorter of lease term or useful life of the improvement
Machinery and equipment	2 to 10 years
Furniture, fixtures and office equipment	5 years
Computer hardware and software	3 to 7 years
Transportation equipment	3 years

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.

Schedule of Changes in AOCI, Net of Tax

The following table sets forth the changes in AOCI, net of tax, by component during the fiscal year ended August 31, 2023 (in millions):

	Foreign Currency Translation Adjustment		Net Investment Hedges		Derivative Instruments		Actuarial Gain (Loss)		Prior Service (Cost) Credit		Total
Balance as of August 31, 2022	$	(88)	$	—	$	(3)	$	65	$	(16)	$	(42)
Other comprehensive income (loss) before reclassifications	29		(4)		(25)		(5)		(2)		(7)
Amounts reclassified from AOCI	—		—		42		(14)		4		32
Other comprehensive income (loss)(1)	29		(4)		17		(19)		2		25
Balance as of August 31, 2023	$	(59)	$	(4)	$	14	$	46	$	(14)	$	(17)

(1)Amounts are net of tax, which are immaterial.

Schedule of Reclassification from AOCI

The following table sets forth the amounts reclassified from AOCI into the Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):

		Fiscal Year Ended August 31,
Comprehensive Income Components	Financial Statement Line Item	2023		2022		2021
Realized losses (gains) on derivative instruments:(1)
Foreign exchange contracts	Cost of revenue	$	44	$	30	$	(44)
Interest rate contracts	Interest expense, net	(2)		2		$	3
Actuarial gains	(2)	(14)		(14)		(16)
Prior service costs	(2)	4		4		1
Total amounts reclassified from AOCI(3)		$	32	$	22	$	(56)

(1)The Company expects to reclassify $9 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.

(2)Amounts are included in the computation of net periodic benefit cost. Refer to Note 10 – “Postretirement and Other Employee Benefits” for additional information.

(3)Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2023, 2022 and 2021.

Schedule of Potential Shares of Common Stock not included in the Computation of Earnings Per Share

Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):

	Fiscal Year Ended August 31,
	2023	2022	2021
Restricted stock units	383.1	209.4	655.0