Trade Accounts Receivable Sale Programs (Tables)

12 Months Ended

Aug. 31, 2020

Schedule of Trade Accounts Receivable Sale Programs Key Terms

The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis:



Program	Maximum Amount (in millions)⁽¹⁾			Type of Facility	Expiration Date
A	$	600.0		Uncommitted	December 5, 2020	(2)
B	$	150.0		Uncommitted	November 30, 2020	(3)
C	400.0		CNY	Uncommitted	August 31, 2023
D	$	150.0		Uncommitted	May 4, 2023	(4)
E	$	150.0		Uncommitted	January 25, 2021	(5)
F	$	50.0		Uncommitted	February 23, 2023	(6)
G	$	100.0		Uncommitted	August 10, 2021	(7)
H	$	100.0		Uncommitted	July 21, 2021	(8)
I	$	650.0		Uncommitted	December 4, 2020	(9)
J	$	135.0		Uncommitted	April 11, 2021	(10)
K	$	100.0	CHF	Uncommitted	December 5, 2020	(2)


⁽¹⁾	Maximum amount of trade accounts receivable that may be sold under a facility at any one time.


⁽²⁾	The program will be automatically extended through December 5, 2025 unless either party provides 30 days’ notice of termination.


⁽³⁾	The program will automatically extend for one year at each expiration date unless either party provides 10 days’ notice of termination.


⁽⁴⁾	Any party may elect to terminate the agreement upon 30 days’ prior notice.


⁽⁵⁾	The program will be automatically extended through January 25, 2023 unless either party provides 30 days’ notice of termination.


⁽⁶⁾	Any party may elect to terminate the agreement upon 15 days’ prior notice.


⁽⁷⁾	The program will be automatically extended through August 10, 2023 unless either party provides 30 days’ notice of termination.


⁽⁸⁾	The program will be automatically extended through August 21, 2023 unless either party provides 30 days’ notice of termination.


⁽⁹⁾	The program will be automatically extended through December 5, 2024 unless either party provides 30 days’ notice of termination.

⁽¹⁰⁾

The program will be automatically extended each year through April 11, 2025 unless either party provides 30 days’ notice of termination.

Schedule of Trade Accounts Receivable Sale Programs Amounts Recognized

In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):



	Fiscal Year Ended August 31,
	2020		2019		2018
Trade accounts receivable sold	$	8,457	$	6,751	$	5,480
Cash proceeds received	$	8,440	$	6,723	$	5,463
Pre-tax losses on sale of receivables⁽¹⁾	$	17	$	28	$	17

⁽¹⁾

Recorded to other expense within the Consolidated Statements of Operations.