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Asset-Backed Securitization Program (Tables) | 3 Months Ended
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Nov. 30, 2021
Transfers and Servicing [Abstract] |
Schedule of Asset-backed Securitization Programs Amounts Recognized | In connection with the asset-backed securitization program, the Company recognized the following (in millions):
|  |  | Three months ended
|  |  |  |  | November 30, 2021 |  | November 30, 2020(4)
Trade accounts receivable sold(1) |  |  |  |  | $ | 1,032 |  |  | $ | 1,173 |
Cash proceeds received(2) |  |  |  |  | $ | 1,030 |  |  | $ | 1,171 |
Pre-tax losses on sale of receivables(3) |  |  |  |  | $ | 2 |  |  | $ | 2 |
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows. (2)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers. (3)Recorded to other expense within the Condensed Consolidated Statements of Operations. (4)Activity includes the foreign asset-backed securitization program which terminated on June 28, 2021.

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