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Derivative Financial Instruments and Hedging Activities (Tables)
3 Months Ended
Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Maturity Date and Aggregate Notional Amount Outstanding of Net Investment Hedges
Maturity dateNovember 30, 2024August 31, 2024
October 2024$— $140 
January 2025103 106 
July 202553 55 
October 202595 — 
January 2026102 106 
April 202641 — 
Total$394 $407 
Schedule of Net Gains (Losses) from Forward Contracts Recorded in Consolidated Statements of Operations
Three months ended
Financial Statement Line ItemNovember 30, 2024November 30, 2023
Derivative instruments designated as cash flow hedges:
(Losses) recognized in OCI(1)
$(12)$(3)
Losses (gains) reclassified from AOCI into earnings(1)(2)
Forward foreign exchange contractsCost of revenue$$17 
Interest rate contractsInterest expense, net$(1)$(1)
Derivative instruments designated as net investment hedges:
Gains (losses) recognized in OCI(1)
$21 $(4)
Derivative instruments not designated as hedging instruments:
(Losses) gains recognized in earnings from forward foreign exchange contractsCost of revenue$(21)$18 
Gains (losses) recognized in earnings from changes in foreign currencyCost of revenue$10 $(38)
(1)Amounts are net of tax, which are immaterial for the three months ended November 30, 2024, and 2023.
(2)The Company expects to reclassify $10 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.
The gains and losses recognized in earnings due to amounts excluded from effectiveness testing were not material for all periods presented.
Refer to Note 18 – “Fair Value Measurements” for the fair values and classification of the Company’s derivative instruments.