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Notes Payable and Long-Term Debt (Tables) | 12 Months Ended
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Aug. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Notes Payable and Long-Term Debt | Notes payable and long-term debt outstanding as of August 31, 2024, and 2023 are summarized below (in millions):
| Maturity Date |  | August 31, 2024 |  | August 31, 2023
3.950% Senior Notes(1)(2) | Jan 12, 2028 |  | $ | 498 |  |  | $ | 497 |
3.600% Senior Notes(1)(2) | Jan 15, 2030 |  | 497 |  |  | 496 |
3.000% Senior Notes(1)(2) | Jan 15, 2031 |  | 594 |  |  | 593 |
1.700% Senior Notes(1)(2) | Apr 15, 2026 |  | 499 |  |  | 498 |
4.250% Senior Notes(1)(2) | May 15, 2027 |  | 496 |  |  | 495 |
5.450% Senior Notes(1)(2)(3) | Feb 1, 2029 |  | 296 |  |  | 296 |
Borrowings under credit facilities(4)(5) | Jan 22, 2026 and Jan 22, 2028 |  | — |  |  | — |
Borrowings under loans | Jul 31, 2026 |  | — |  |  | — |
Total notes payable and long-term debt |  |  | 2,880 |  |  | 2,875 |
Less current installments of notes payable and long-term debt |  |  | — |  |  | — |
Notes payable and long-term debt, less current installments |  |  | $ | 2,880 |  |  | $ | 2,875 |
(1)The notes are carried at the principal amount of each note, less any unamortized discount and unamortized debt issuance costs. (2)The Senior Notes are the Company’s senior unsecured obligations and rank equally with all other existing and future senior unsecured debt obligations. (3)On April 13, 2023, the Company issued $300 million of publicly registered 5.450% Senior Notes due 2029 (the “5.450% Senior Notes”). The Company used the net proceeds for general corporate purposes, including, together with available cash, repayment of the $300 million aggregate principal amount of the Company’s 4.900% Senior Notes due in July 2023. (4)On February 23, 2024, 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 Company’s 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”) and (ii) extended the termination date of the Three-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2026, and of the Five-Year Revolving Credit Facility (with respect to the available commitments of the extending lenders) to January 22, 2028, in each case subject to an additional one-year extension at the option of the Company. (5)As of August 31, 2024, the Company has $4.0 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.
Schedule of Debt Maturities | Debt maturities as of August 31, 2024 are as follows (in millions):
Fiscal Year Ended August 31, |
2025 | $ | — |
2026 | 499 |
2027 | 496 |
2028 | 498 |
2029 | 296 |
Thereafter | 1,091 |
Total | $ | 2,880 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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