v3.20.4
FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Feb. 28, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional and Fair Values of All Derivative Instruments
The notional and fair values of all derivative instruments are as follows:
February 28, 2021August 31, 2020
Assets
Cash Flow Hedges
Other current assets$73,478 $75,871 
Other non-current assets31,365 50,914 
Other Derivatives
Other current assets14,244 27,964 
Total assets$119,087 $154,749 
Liabilities
Cash Flow Hedges
Other accrued liabilities$22,391 $13,614 
Other non-current liabilities28,335 13,576 
Other Derivatives
Other accrued liabilities36,320 11,828 
Total liabilities$87,046 $39,018 
Total fair value$32,041 $115,731 
Total notional value$9,804,987 $9,600,691 
Offsetting Derivative Assets and Liabilities Table
We utilize standard counterparty master agreements containing provisions for the netting of certain foreign currency transaction obligations and for the set-off of certain obligations in the event of an insolvency of one of the parties to the transaction. In the Consolidated Balance Sheets, we record derivative assets and liabilities at gross fair value. The potential effect of netting derivative assets against liabilities under the counterparty master agreements is as follows:
February 28, 2021August 31, 2020
Net derivative assets$82,515 $129,520 
Net derivative liabilities50,474 13,789 
Total fair value$32,041 $115,731