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Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended
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Nov. 30, 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 Condensed 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
|  |  |  |  |  | Three months ended
|  |  |  |  |  |  |  | November 30, 2022 |  | November 30, 2021
Forward foreign exchange contracts(1) |  | Cost of revenue |  |  |  |  |  | $ | (46) |  |  | $ | 38 |
(1)For the three months ended November 30, 2022, the Company recognized $49 million of foreign currency gains in cost of revenue, which are offset by the losses from the forward foreign exchange contracts. For the three months ended November 30, 2021, the Company recognized $27 million of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts.
Schedule of Interest Rate Swaps Outstanding | The following table presents the interest rate swaps outstanding as of November 30, 2022, which have been designated as hedging instruments and are 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.

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- 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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
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