XML 25 R13.htm IDEA: XBRL DOCUMENT v3.26.1
Notes Payable and Long-Term Debt
 6 Months Ended
Feb. 28, 2026
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt Notes Payable and Long-Term Debt
Notes payable and long-term debt outstanding as of February 28, 2026, and August 31, 2025, are summarized below (in millions): 
Maturity DateFebruary 28, 2026August 31, 2025
3.950% Senior Notes
Jan 12, 2028$499 $499 
3.600% Senior Notes
Jan 15, 2030498 498 
3.000% Senior Notes
Jan 15, 2031595 595 
1.700% Senior Notes(1)
Apr 15, 2026500 499 
4.250% Senior Notes
May 15, 2027498 497 
5.450% Senior Notes
Feb 1, 2029298 297 
4.200% Senior Notes(1)
Feb 1, 2029497 — 
4.750% Senior Notes(1)
Feb 1, 2033491 — 
Borrowings under credit facilities(2)
Jun 18, 2030— — 
Total notes payable and long-term debt3,876 2,885 
Less current installments of notes payable and long-term debt
500 499 
Notes payable and long-term debt, less current installments
$3,376 $2,386 
(1)On January 23, 2026, the Company issued $500 million aggregate principal amount of 4.200% Senior Notes due 2029 (the “4.200% Senior Notes”) and $500 million aggregate principal amount of 4.750% Senior Notes due 2033 (the “4.750% Senior Notes”) in an underwritten public offering. The Company intends to use the net proceeds for general corporate purposes, including the repayment of the $500 million aggregate principal amount of 1.700% Senior Notes due in April 2026.
(2)As of February 28, 2026, the Company had $4.2 billion in available unused borrowing capacity under its revolving credit facilities, of which $3.2 billion was available under the senior unsecured credit agreement dated June 18, 2025 (the “Revolving Credit Facility”). The Revolving 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.
Debt Covenants
Borrowings under the Company’s debt agreements are subject to various covenants that limit the Company’s ability to: incur additional indebtedness, sell assets, effect mergers and certain transactions, and effect certain transactions with subsidiaries and affiliates. In addition, the revolving credit facilities contain debt leverage and interest coverage covenants. The Company is also subject to certain covenants requiring the Company to offer to repurchase the 3.950%, 3.600%, 3.000%, 1.700%, 4.250%, 5.450%, 4.200% or 4.750% Senior Notes upon a change of control. As of February 28, 2026, and August 31, 2025, the Company was in compliance with its debt covenants.
Fair Value
Refer to Note 16 – “Fair Value Measurements” for the estimated fair values of the Company’s notes payable and long-term debt.