Accumulated Other Comprehensive Income

3 Months Ended

Nov. 30, 2023

The following table sets forth the changes in AOCI, net of tax, by component for the three months ended November 30, 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, 2023	$	(59)	$	(4)	$	14	$	46	$	(14)	$	(17)
Other comprehensive income (loss) before reclassifications	4		(4)		(3)		—		—		(3)
Amounts reclassified from AOCI	—		—		16		(3)		1		14
Other comprehensive income (loss)(1)	4		(4)		13		(3)		1		11
Balance as of November 30, 2023	$	(55)	$	(8)	$	27	$	43	$	(13)	$	(6)

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

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


		Three months ended
Comprehensive Income Components	Financial Statement Line Item		November 30, 2023		November 30, 2022
Realized losses (gains) on derivative instruments:(1)
Foreign exchange contracts	Cost of revenue		$	17	$	43
Interest rate contracts	Interest expense, net		(1)		—
Actuarial gains	(2)		(3)		(3)
Prior service costs	(2)		1		1
Total amounts reclassified from AOCI(3)			$	14	$	41

(1)The Company expects to reclassify $5 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 7 – “Postretirement and Other Employee Benefits” for additional information.

(3)Amounts are net of tax, which are immaterial for the three months ended November 30, 2023 and 2022.