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Notes Payable and Long-Term Debt (Tables)
 6 Months Ended
Feb. 29, 2024
Debt Disclosure [Abstract]  
Schedule of Notes Payable and Long-term Debt
Notes payable and long-term debt outstanding as of February 29, 2024 and August 31, 2023 are summarized below (in millions): 
Maturity DateFebruary 29, 2024August 31, 2023
3.950% Senior Notes
Jan 12, 2028498 497 
3.600% Senior Notes
Jan 15, 2030497 496 
3.000% Senior Notes
Jan 15, 2031593 593 
1.700% Senior Notes
Apr 15, 2026498 498 
4.250% Senior Notes
May 15, 2027496 495 
5.450% Senior Notes
Feb 1, 2029296 296 
Borrowings under credit facilities(1)(2)
Jan 22, 2026 and Jan 22, 2028— — 
Borrowings under loansJul 31, 2026— — 
Total notes payable and long-term debt2,878 2,875 
Less current installments of notes payable and long-term debt
— — 
Notes payable and long-term debt, less current installments
$2,878 $2,875 
(1)On February 23, 2024, the Company entered into an amendment (the “Amendment”) to its senior unsecured credit agreement dated as of January 22, 2020 (as amended, the “Credit Facility”). The Amendment, among other things, (i) instituted certain amendments to the sustainability-linked adjustments to the interest rates applicable to borrowings under the Company’s three-year revolving credit facility (the “Three-Year Revolving Credit Facility”) and the Company’s five-year revolving credit facility (the “Five-Year Revolving Credit Facility”) and (ii) extended the termination date of the Three-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2026, and of the Five-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2028, in each case subject to an additional one-year extension at the option of the Company.
(2)As of February 29, 2024, the Company has $3.9 billion in available unused borrowing capacity under its revolving credit facilities. The Credit Facility acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $3.2 billion under its commercial paper program.