Notes Payable and Long-Term Debt (Tables)

6 Months Ended

Feb. 28, 2023

Schedule of Notes Payable and Long-term Debt

Notes payable and long-term debt outstanding as of February 28, 2023 and August 31, 2022 are summarized below (in millions):


	Maturity Date	February 28, 2023		August 31, 2022
4.900% Senior Notes	Jul 14, 2023	$	300	$	300
3.950% Senior Notes	Jan 12, 2028	497		497
3.600% Senior Notes	Jan 15, 2030	496		496
3.000% Senior Notes	Jan 15, 2031	593		592
1.700% Senior Notes	Apr 15, 2026	497		497
4.250% Senior Notes	May 15, 2027	494		493
Borrowings under credit facilities(1)(2)	Jan 22, 2025 and Jan 22, 2027	23		—
Borrowings under loans	Jul 31, 2026	—		—
Total notes payable and long-term debt		2,900		2,875
Less current installments of notes payable and long-term debt		323		300
Notes payable and long-term debt, less current installments		$	2,577	$	2,575

(1)On February 10, 2023, the Company entered into an amendment (the “Amendment”) to its senior unsecured credit agreement dated as of January 22, 2020 (as amended, the “Credit Facility”). The Amendment, among other things, (i) instituted certain amendments to the sustainability-linked adjustments to the interest rates applicable to borrowings under the three-year revolving credit facility (the “Three-Year Revolving Credit Facility”) and the Company’s five-year revolving credit facility (the “Five-Year Revolving Credit Facility”), (ii) established customary SOFR, CDOR, EURIBOR and TIBOR provisions, which replaced the LIBOR provisions set forth in the existing agreement, and (iii) extended the termination date of the Three-Year Revolving Credit Facility to January 22, 2025, and of the Five-Year Revolving Credit Facility to January 22, 2027.

(2)As of February 28, 2023, the Company has $3.8 billion in available unused borrowing capacity under its revolving credit facilities. The Credit Facility acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $3.2 billion under its commercial paper program.