XML 56 R41.htm IDEA: XBRL DOCUMENT
v3.25.3

Notes Payable and Long-Term Debt (Tables) | 12 Months Ended
--- | ---
Aug. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Notes Payable and Long-Term Debt | Notes payable and long-term debt outstanding as of August 31, 2025, and 2024 are summarized below (in millions):
| Maturity Date |  | August 31, 2025 |  | August 31, 2024
3.950% Senior Notes(1)(2) | Jan 12, 2028 |  | $ | 499 |  |  | $ | 498 |
3.600% Senior Notes(1)(2) | Jan 15, 2030 |  | 498 |  |  | 497 |
3.000% Senior Notes(1)(2) | Jan 15, 2031 |  | 595 |  |  | 594 |
1.700% Senior Notes(1)(2) | Apr 15, 2026 |  | 499 |  |  | 499 |
4.250% Senior Notes(1)(2) | May 15, 2027 |  | 497 |  |  | 496 |
5.450% Senior Notes(1)(2) | Feb 1, 2029 |  | 297 |  |  | 296 |
Borrowings under credit facilities(3)(4) | Jun 18, 2030 |  | — |  |  | — |
Total notes payable and long-term debt |  |  | 2,885 |  |  | 2,880 |
Less current installments of notes payable and long-term debt |  |  | 499 |  |  | — |
Notes payable and long-term debt, less current installments |  |  | $ | 2,386 |  |  | $ | 2,880 |
(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 June 18, 2025, the Company entered into a senior unsecured credit agreement (the “Agreement”). The Agreement provides for a five-year revolving credit facility in the initial amount of $3.2 billion (the “Revolving Credit Facility”), which may, subject to the lender’s discretion, potentially be increased by up to an aggregate amount of $1.0 billion. The Revolving Credit Facility expires on June 18, 2030, subject to unlimited successive one-year extension options (subject to the lenders’ discretion), provided that the tenor of the Revolving Credit Facility shall at no time exceed five-years. Interest and fees on advances under the Revolving Credit Facility are based on the Company’s non-credit enhanced long-term senior unsecured debt rating as determined by S&P Global Ratings, Moody’s Ratings and Fitch Ratings. In connection with the Company’s entry into the Agreement, the Company terminated its $3.2 billion credit agreement dated January 22, 2020. Interest for borrowings under the Revolving Credit Facility is charged at a rate equal to either 0.00% to 0.45% above the base rate or 0.90% to 1.45% above the benchmark rate, as applicable, based on the Company’s credit ratings. The base rate represents the greatest of: (i) Citibank, N.A.’s prime rate, (ii) 0.50% above the federal funds rate, and (iii) 1.0% above one-month Term SOFR, but not less than zero. The benchmark rate represents Term SOFR, EURIBOR, TIBOR or Daily Simple SOFR, as applicable, for the applicable interest period, but not less than zero. Fees include a facility fee based on the revolving credit commitments of the lenders and a letter of credit fee based on the amount of outstanding letters of credit. (4)As of August 31, 2025, the Company had $4.0 billion in available unused borrowing capacity under its existing revolving credit facilities, of which $3.2 billion was available under the Revolving Credit Facility. The Revolving 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, 2025 are as follows (in millions):
Fiscal Year Ended August 31, |
2026 | $ | 499 |
2027 | 497 |
2028 | 499 |
2029 | 297 |
2030 | 498 |
Thereafter | 595 |
Total | $ | 2,885 |

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

X
- 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
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration