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BORROWINGS AND INDEBTEDNESS (Tables)

12 Months Ended

Aug. 31, 2022

Debt Disclosure [Abstract]

Schedule of Borrowing Facilities

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.

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- References

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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