Restructuring, Severance and Related Charges (Tables)

3 Months Ended

Nov. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring, Severance and Related Charges and Liability Activity

Following is a summary of the Company’s restructuring, severance, and related charges (in millions):

	Three months ended
	November 30, 2024(1)		November 30, 2023(2)
Employee severance and benefit costs	$	27	$	95
Lease costs	3		—
Asset write-off costs	23		22
Other costs	30		10
Total restructuring, severance and related charges(3)	$	83	$	127

(1)Primarily relates to the 2025 Restructuring Plan.

(2)Primarily relates to the 2024 Restructuring Plan.

(3)Includes $21 million and $32 million recorded in the Regulated Industries segment, $29 million and $29 million recorded in the Intelligent Infrastructure segment, $6 million and $47 million recorded in the Connected Living and Digital Commerce segment, and $27 million and $19 million of non-allocated charges for the three months ended November 30, 2024 and 2023, respectively. Except for asset write-off costs, all restructuring, severance and related charges are cash costs. See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for further details on the change in reportable segments.

The table below summarizes the Company’s liability activity, primarily associated with the 2025 Restructuring Plan (in millions):

	Employee Severance and Benefit Costs		Lease Costs		Asset Write-off Costs		Other Related Costs		Total
Balance as of August 31, 2024	$	—	$	—	$	—	$	—	$	—
Restructuring related charges	26		3		19		26		74
Asset write-off charge and other non-cash activity	—		—		(19)		(3)		(22)
Cash payments	(5)		(3)		—		(4)		(12)
Balance as of November 30, 2024	$	21	$	—	$	—	$	19	$	40

The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):

	Employee Severance and Benefit Costs		Lease Costs		Asset Write-off Costs		Other Related Costs		Total
Balance as of August 31, 2024	$	66	$	1	$	—	$	5	$	72
Restructuring related charges	1		—		4		4		9
Asset write-off charge and other non-cash activity	—		—		(4)		—		(4)
Cash payments	(34)		—		—		(5)		(39)
Balance as of November 30, 2024	$	33	$	1	$	—	$	4	$	38