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Asset-Backed Securitization Programs (Tables)

6 Months Ended

Feb. 28, 2021

Following is a summary of the asset-backed securitization programs and key terms:


	Maximum Amount of Net Cash Proceeds (in millions)(1)(2)		Expiration Date
North American	$	390.0	November 22, 2021
Foreign	$	400.0	September 30, 2021

(1)Maximum amount available at any one time.

(2)As of February 28, 2021, the Company had up to $53.3 million in available liquidity under its asset-backed securitization programs.

In connection with the asset-backed securitization programs, the Company recognized the following (in millions):


	Three months ended				Six months ended
	February 28, 2021		February 29, 2020		February 28, 2021		February 29, 2020
Trade accounts receivable sold	$	1,140	$	1,095	$	2,313	$	2,257
Cash proceeds received(1)	$	1,137	$	1,089	$	2,308	$	2,245
Pre-tax losses on sale of receivables(2)	$	3	$	6	$	5	$	12

(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.

(2)Recorded to other expense within the Condensed Consolidated Statements of Operations.