XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.22.1

Derivative Financial Instruments and Hedging Activities (Tables) | 6 Months Ended
--- | ---
Feb. 28, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Net Gains from Forward Contracts Recorded in Consolidated Statements of Operations | The following table presents the gains from forward contracts recorded in the Condensed Consolidated Statements of Operations for the periods indicated (in millions):
Derivatives Not Designated as Hedging Instruments Under ASC 815 |  | Location of Gain on Derivatives Recognized in Net Income |  | Amount of Gain Recognized in Net Income on Derivatives
|  |  |  | Three months ended |  | Six months ended
|  |  |  | February 28, 2022 |  | February 28, 2021 |  | February 28, 2022 |  | February 28, 2021
Forward foreign exchange contracts(1) |  | Cost of revenue |  | $ | 22 |  |  | $ | 36 |  |  | $ | 60 |  |  | $ | 120 |
(1)For the three months and six months ended February 28, 2022, the Company recognized $9 million and $37 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts. For the three months and six months ended February 28, 2021, the Company recognized $26 million and $99 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 February 28, 2022, which have been designated as hedging instruments and are accounted for as cash flow hedges:
Interest Rate Swap Summary | Hedged Interest Rate Payments |  | Aggregate Notional Amount (in millions) |  | Effective Date |  | Expiration Date (2) |
Forward Interest Rate Swap (1) |  |  |  |  |  |  |  |
Anticipated Debt Issuance | Fixed |  | $ | 250 |  |  | November 2, 2020 |  | July 31, 2024 | (3)
Anticipated Debt Issuance | Fixed |  | $ | 150 |  |  | May 24, 2021 |  | July 31, 2024 | (3)
(1)During March 2022, the Company entered into new cash flow hedges. These cash flow hedges have an aggregate notional amount totaling $170 million and are related to an anticipated debt issuance. (2)The contracts will be settled with the respective counterparties on a net basis at the expiration date for the forward interest rate swap. (3)If the anticipated debt issuance occurs before July 31, 2024, the contracts will be terminated simultaneously with the debt issuance.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
Name: | us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration