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BORROWINGS AND INDEBTEDNESS
 12 Months Ended
Aug. 31, 2022
Debt Disclosure [Abstract]  
BORROWINGS AND INDEBTEDNESS Borrowings and Indebtedness
As of August 31, 2022, we had the following borrowing facilities, including the issuance of letters of credit, to support general working capital purposes:
Facility
Amount		Borrowings
Under
Facilities
Syndicated loan facility (1)$3,000,000 $— 
Separate, uncommitted, unsecured multicurrency revolving credit facilities (2)1,631,391 — 
Local guaranteed and non-guaranteed lines of credit (3)229,618 — 
Total$4,861,009 $— 
(1)This facility, which matures on April 24, 2026, provides unsecured, revolving borrowing capacity for general corporate capital purposes, including the issuance of letters of credit. Borrowings under this facility will accrue interest at the applicable risk-free rate plus a spread. We continue to be in compliance with relevant covenant terms. The facility is subject to annual commitment fees. As of August 31, 2022 and 2021, we had no borrowings under the facility.
(2)We maintain separate, uncommitted and unsecured multicurrency revolving credit facilities. These facilities provide local currency financing for the majority of our operations. Interest rate terms on the revolving facilities are at market rates prevailing in the relevant local markets. As of August 31, 2022 and 2021, we had no borrowings under these facilities.
(3)We also maintain local guaranteed and non-guaranteed lines of credit for those locations that cannot access our global facilities. As of August 31, 2022 and 2021, we had no borrowings under these various facilities.
Under the borrowing facilities described above, we had an aggregate of $892,340 and $695,139 of letters of credit outstanding as of August 31, 2022 and 2021, respectively. In addition, we had total outstanding debt of $55,068 and $65,553 as of August 31, 2022 and 2021, respectively. We have a short-term commercial paper financing program backed by our $3,000,000 syndicated credit facility. As of August 31, 2022, we had no commercial paper outstanding.