Notes Payable and Long-Term Debt (Tables)
 6 Months Ended
Feb. 28, 2022
Debt Disclosure [Abstract]  
Schedule of Notes Payable and Long-term Debt
Notes payable and long-term debt outstanding as of February 28, 2022 and August 31, 2021 are summarized below (in millions): 
Maturity Date February 28, 2022 August 31, 2021
4.700% Senior Notes
 Sep 15, 2022 $ 500  $ 499 
4.900% Senior Notes
 Jul 14, 2023 300  300 
3.950% Senior Notes
 Jan 12, 2028 496  496 
3.600% Senior Notes
 Jan 15, 2030 496  495 
3.000% Senior Notes
 Jan 15, 2031 592  591 
1.700% Senior Notes
 Apr 15, 2026 496  496 
Borrowings under credit facilities(1)
 Jan 22, 2024 and Jan 22, 2026 —  — 
Borrowings under loans Jul 31, 2026 1  1 
Total notes payable and long-term debt 2,881  2,878 
Less current installments of notes payable and long-term debt
 501  — 
Notes payable and long-term debt, less current installments
 $ 2,380  $ 2,878 
(1)As of February 28, 2022, the Company has $3.8 billion in available unused borrowing capacity under its revolving credit facilities. The senior unsecured credit agreement dated as of January 22, 2020 and amended on April 28, 2021 (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, which was increased from $1.8 billion on February 18, 2022.