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Fair Value Measurements (Tables)
 12 Months Ended
Aug. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities Measured at Fair Value
The following table presents the fair value of the Company's financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated (in millions):
Fair Value HierarchyAugust 31, 2024August 31, 2023
Assets:
Cash and cash equivalents:
Cash equivalentsLevel 1
(1)
$303 $— 
Prepaid expenses and other current assets:
Short-term investmentsLevel 127 25 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
11 4 
Derivatives not designated as hedging instruments (Note 11)
Level 2
(2)
25 20 
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
— 9 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
$28 $17 
Derivatives not designated as hedging instruments (Note 11)
Level 2
(2)
22 64 
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
6 1 
Other liabilities:
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
5 — 
(1)Consist of time deposits that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts, including cash flow hedges and net investment hedges are measured on a recurring basis at fair value, based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers.
Schedule of Carrying Amounts and Fair Values of Notes Payable and Long-term Debt The following table presents the carrying amounts and fair values of the Company's notes payable and long-term debt, by hierarchy level as of the periods indicated (in millions):
August 31, 2024August 31, 2023
Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Notes payable and long-term debt: (Note 7)
3.950% Senior Notes
Level 2
(1)
$498 $487 $497 $468 
3.600% Senior Notes
Level 2
(1)
$497 $468 $496 $448 
3.000% Senior Notes
Level 2
(1)
$594 $529 $593 $502 
1.700% Senior Notes
Level 2
(1)
$499 $476 $498 $452 
4.250% Senior Notes
Level 2
(1)
$496 $495 $495 $478 
5.450% Senior Notes
Level 2
(1)
$296 $306 $296 $297 
(1)The fair value estimates are based upon observable market data.