Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Aug. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Net (Losses) Gains from Forward Contracts Recorded in Consolidated Statements of Operations

The following table presents the net (losses) gains from forward contracts recorded in the Consolidated Statements of Operations for the periods indicated (in millions):


Derivatives Not Designated as Hedging Instruments Under ASC 815	Location of (Loss) Gain on Derivatives Recognized in Net Income	Amount of (Loss) Gain Recognized in Net Income on Derivatives
		Fiscal Year Ended August 31,
		2022		2021		2020
Forward foreign exchange contracts(1)	Cost of revenue	$	(71)	$	140	$	42

(1)For the fiscal years ended August 31, 2022, the Company recognized $87 million of foreign currency gains in cost of revenue, which are offset by the losses from the forward foreign exchange contracts. For the fiscal years ended 2021 and 2020, the Company recognized $105 million and $47 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts.

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table presents the interest rate swaps outstanding as of August 31, 2022, which have been designated as hedging instruments and accounted for as cash flow hedges (in millions):

Interest Rate Swap Summary

Hedged Interest Rate Payments

Aggregate Notional Amount

Effective Date

Expiration Date

Forward Interest Rate Swap

Anticipated Debt Issuance

Fixed

150

May 24, 2021

July 31, 2024

(1)(2)

Anticipated Debt Issuance

Fixed

100

August 8, 2022

July 31, 2024

(1)(2)

(1)The contracts will be settled with the respective counterparties on a net basis at the expiration date for the forward interest rate swap.

(2)If the anticipated debt issuance occurs before July 31, 2024, the contracts will be terminated simultaneously with the debt issuance.