JABIL INC, 10-K filed on 10/28/2024
Annual Report
v3.24.3
Cover - USD ($)
$ in Billions
 12 Months Ended
Aug. 31, 2024
Oct. 21, 2024
Feb. 29, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Aug. 31, 2024    
Current Fiscal Year End Date --08-31    
Document Transition Report false    
Entity File Number 001-14063    
Entity Registrant Name JABIL INC    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 38-1886260    
Entity Address, Address Line One 10800 Roosevelt Boulevard North    
Entity Address, City or Town St. Petersburg    
Entity Address, State or Province FL    
Entity Address, Postal Zip Code 33716    
City Area Code 727    
Local Phone Number 577-9749    
Title of 12(b) Security Common Stock, $0.001 par value per share    
Trading Symbol JBL    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 15.2
Entity Common Stock, Shares Outstanding   112,843,194  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
We have incorporated by reference portions of our Proxy Statement for our annual meeting of shareholders expected to be held on January 23, 2025, into Part III hereof, to the extent indicated herein.
    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000898293    
v3.24.3
Audit Information
 12 Months Ended
Aug. 31, 2024
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location Tampa, Florida
Auditor Firm ID 42
v3.24.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Current assets:    
Cash and cash equivalents $ 2,201 $ 1,804
Accounts receivable, net of allowance for credit losses 3,533 3,647
Contract assets 1,071 1,035
Inventories, net of reserve for excess and obsolete inventory 4,276 5,206
Prepaid expenses and other current assets 1,710 1,109
Assets held for sale 0 1,929
Total current assets 12,791 14,730
Property, plant and equipment, net of accumulated depreciation 3,024 3,137
Operating lease right-of-use assets 360 367
Goodwill 661 621
Intangible assets, net of accumulated amortization 143 142
Deferred income taxes 96 159
Other assets 276 268
Total assets 17,351 19,424
Current liabilities:    
Current installments of notes payable and long-term debt 0 0
Accounts payable 6,190 5,679
Accrued expenses 5,499 5,515
Current operating lease liabilities 93 104
Liabilities held for sale 0 1,397
Total current liabilities 11,782 12,695
Notes payable and long-term debt, less current installments 2,880 2,875
Other liabilities 416 319
Non-current operating lease liabilities 284 269
Income tax liabilities 109 131
Deferred income taxes 143 268
Total liabilities 15,614 16,557
Commitments and contingencies
Jabil Inc. stockholders’ equity:    
Preferred stock, $0.001 par value, authorized 10,000,000 shares; no shares issued and outstanding 0 0
Common stock, $0.001 par value, authorized 500,000,000 shares; 276,381,151 and 273,949,811 shares issued and 113,744,167 and 131,294,422 shares outstanding at August 31, 2024 and August 31, 2023, respectively 0 0
Additional paid-in capital 2,841 2,795
Retained earnings 5,760 4,412
Accumulated other comprehensive loss (46) (17)
Treasury stock at cost, 162,636,984 and 142,655,389 shares as of August 31, 2024 and August 31, 2023, respectively (6,818) (4,324)
Total Jabil Inc. stockholders’ equity 1,737 2,866
Noncontrolling interests 0 1
Total equity 1,737 2,867
Total liabilities and equity $ 17,351 $ 19,424
v3.24.3
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Aug. 31, 2024
Aug. 31, 2023
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 500,000,000 500,000,000
Common stock, shares issued (in shares) 276,381,151 273,949,811
Common stock, shares outstanding (in shares) 113,744,167 131,294,422
Treasury stock at cost (in shares) 162,636,984 142,655,389
v3.24.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Income Statement [Abstract]      
Net revenue $ 28,883 $ 34,702 $ 33,478
Cost of revenue 26,207 31,835 30,846
Gross profit 2,676 2,867 2,632
Operating expenses:      
Selling, general and administrative 1,160 1,206 1,154
Research and development 39 34 33
Amortization of intangibles 40 33 34
Restructuring, severance and related charges 296 57 18
Gain from the divestiture of businesses (942) 0 0
Acquisition and divestiture related charges 70 0 0
Operating income 2,013 1,537 1,393
Loss on debt extinguishment 0 0 4
Other expense 89 69 12
Interest expense, net 173 206 146
Income before income tax 1,751 1,262 1,231
Income tax expense 363 444 235
Net income 1,388 818 996
Net income attributable to noncontrolling interests, net of tax 0 0 0
Net income attributable to Jabil Inc. $ 1,388 $ 818 $ 996
Earnings per share attributable to the stockholders of Jabil Inc.:      
Basic (in dollars per share) $ 11.34 $ 6.15 $ 7.06
Diluted (in dollars per share) $ 11.17 $ 6.02 $ 6.90
Weighted average shares outstanding:      
Basic (in shares) 122.4 133.0 141.2
Diluted (in shares) 124.3 135.9 144.4
v3.24.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 1,388 $ 818 $ 996
Other comprehensive (loss) income:      
Change in foreign currency translation (5) 25 (68)
Change in derivative instruments (2) 17 33
Actuarial (loss) gain (17) (19) 14
Prior service (cost) credit (5) 2 4
Total other comprehensive (loss) income (29) 25 (17)
Comprehensive income 1,359 843 979
Comprehensive income attributable to noncontrolling interests 0 0 0
Comprehensive income attributable to Jabil Inc. $ 1,359 $ 843 $ 979
v3.24.3
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Common stock:
Additional paid-in capital:
Retained earnings:
Accumulated other comprehensive loss:
Treasury stock:
Noncontrolling interests:
Beginning balance at Aug. 31, 2021 $ 2,137   $ 2,533 $ 2,688 $ (25) $ (3,060) $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Shares issued under employee stock purchase plan     45        
Treasury shares purchased (696)         (696)  
Recognition of stock-based compensation     77        
Declared dividends       (46)      
Net income attributable to Jabil Inc. 996     996      
Total other comprehensive (loss) income (17)       (17)    
Purchases of treasury stock under employee stock plans           (44)  
Ending balance at Aug. 31, 2022 2,452 $ 0 2,655 3,638 (42) (3,800) 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Shares issued under employee stock purchase plan     51        
Treasury shares purchased (487)         (487)  
Recognition of stock-based compensation     89        
Declared dividends       (44)      
Net income attributable to Jabil Inc. 818     818      
Total other comprehensive (loss) income 25       25    
Purchases of treasury stock under employee stock plans           (36)  
Excise taxes related to treasury shares purchased           (1)  
Ending balance at Aug. 31, 2023 2,867 0 2,795 4,412 (17) (4,324) 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Shares issued under employee stock purchase plan     58        
Purchase of noncontrolling interest     (2)       (1)
Treasury shares purchased (1,445)   (96)     (2,404)  
Recognition of stock-based compensation     86        
Declared dividends       (40)      
Net income attributable to Jabil Inc. 1,388     1,388      
Total other comprehensive (loss) income (29)       (29)    
Purchases of treasury stock under employee stock plans           (68)  
Excise taxes related to treasury shares purchased           (22)  
Ending balance at Aug. 31, 2024 $ 1,737 $ 0 $ 2,841 $ 5,760 $ (46) $ (6,818) $ 0
v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Cash flows provided by operating activities:      
Net income $ 1,388 $ 818 $ 996
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 696 924 925
Restructuring and related charges 95 5 (1)
Recognition of stock-based compensation expense and related charges 89 95 81
Deferred income taxes (64) 85 (13)
Gain from the divestiture of businesses (942) 0 0
Other, net (18) 13 10
Change in operating assets and liabilities, exclusive of net assets acquired:      
Accounts receivable (200) 267 (878)
Contract assets (32) 171 (214)
Inventories 1,179 370 (1,725)
Prepaid expenses and other current assets (587) (214) (367)
Other assets 6 53 (29)
Accounts payable, accrued expenses and other liabilities 106 (853) 2,866
Net cash provided by operating activities 1,716 1,734 1,651
Cash flows provided by (used in) investing activities:      
Acquisition of property, plant and equipment (784) (1,030) (1,385)
Proceeds and advances from sale of property, plant and equipment 123 322 544
Cash paid for business and intangible asset acquisitions, net of cash (90) (29) (18)
Proceeds from the divestiture of businesses 2,108 50 0
Other, net (6) (36) 1
Net cash provided by (used in) investing activities 1,351 (723) (858)
Cash flows used in financing activities:      
Borrowings under debt agreements 1,992 4,047 3,767
Payments toward debt agreements (2,103) (4,204) (3,890)
Payments to acquire treasury stock (2,500) (487) (696)
Dividends paid to stockholders (42) (45) (48)
Net proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan 58 51 45
Treasury stock minimum tax withholding related to vesting of restricted stock (68) (36) (44)
Other, net (5) (6) (22)
Net cash used in financing activities (2,668) (680) (888)
Effect of exchange rate changes on cash and cash equivalents (2) (5) 6
Net increase (decrease) in cash and cash equivalents 397 326 (89)
Cash and cash equivalents at beginning of period 1,804 1,478 1,567
Cash and cash equivalents at end of period 2,201 1,804 1,478
Supplemental disclosure information:      
Interest paid, net of capitalized interest 167 211 150
Income taxes paid, net of refunds received $ 502 $ 319 $ 209
v3.24.3
Description of Business and Summary of Significant Accounting Policies
 12 Months Ended
Aug. 31, 2024
Accounting Policies [Abstract]  
Description of Business and Summary of Significant Accounting Policies Description of Business and Summary of Significant Accounting Policies
Jabil Inc. (together with its subsidiaries, herein referred to as the “Company”) is one of the leading providers of manufacturing services and solutions. The Company provides comprehensive electronics design, production, and product management services to companies in various industries and end markets. The Company’s services combine a highly automated, continuous flow manufacturing approach with advanced electronic design and design for manufacturability technologies. The Company is headquartered in St. Petersburg, Florida and has manufacturing operations principally in the Americas, Europe, and Asia.
Significant accounting policies followed by the Company are as follows:
Principles of Consolidation and Basis of Presentation
The consolidated financial statements include the accounts and operations of the Company, and its wholly owned and majority-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in preparing the consolidated financial statements. The Company has made certain reclassification adjustments to conform prior periods’ Consolidated Financial Statements and Notes to the Consolidated Financial Statements to the current presentation.
Use of Accounting Estimates
Management is required to make estimates and assumptions during the preparation of the consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates and assumptions.
Assets Held for Sale
The Company classifies assets and related liabilities as held for sale when: (i) management has committed to a plan to sell the net assets, (ii) the net assets are available for immediate sale, (iii) there is an active program to locate a buyer, (iv) the sale and transfer of the net assets is probable within one year, (v) the net assets are being actively marketed for sale at price that is reasonable in relation to its current fair value, and (vi) it is unlikely that significant changes will be made to the plan to sell the net assets. Assets and liabilities held for sale are presented separately on our consolidated balance sheets at the lower of cost or fair value, less costs to sell. Depreciation and amortization expense for long-lived assets are not recorded while these assets are classified as held for sale. For each period that assets are classified as being held for sale, they are tested for recoverability. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Cash and Cash Equivalents
Cash equivalents consist of investments that are readily convertible to cash with original maturities of 90 days or less.
Accounts Receivable
Accounts receivable consist of trade receivables and other miscellaneous receivables. The Company maintains an allowance for credit losses based on historical losses, the age of past due receivables, credit quality of our customers, current economic conditions, and other factors that may affect our ability to collect from customers. Bad debts are charged to this allowance after all attempts to collect the balance are exhausted. As the financial condition and circumstances of the Company’s customers change, adjustments to the allowance for credit losses are made as necessary.
Contract Balances
Timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an asset when revenue is recognized prior to invoicing a customer (“contract assets”) while a liability is recognized when a customer provides consideration prior to the Company transferring control of the goods or services (“contract liabilities”). Amounts recognized as contract assets are generally transferred to receivables in the succeeding quarter due to the short-term nature of the manufacturing cycle. Contract assets are classified separately on the Consolidated Balance Sheets and transferred to receivables when right to payment becomes unconditional.
The Company maintains an allowance for credit losses related to contract assets based on historical losses, credit quality of our customers, current economic conditions, and other factors that may affect our ability to collect from our customers.
Inventories
Inventories are stated at the lower of cost (on a first in, first out (FIFO) basis) and net realizable value. Inventory is valued based on current and forecasted usage, customer inventory-related contractual obligations and other lower of cost and net realizable value considerations. If actual market conditions or customer product demands are less favorable than those projected, additional valuation adjustments may be necessary.
Fulfillment Costs    
The Company capitalizes costs incurred to fulfill its contracts that i) relate directly to the contract or anticipated contracts, ii) are expected to generate or enhance the Company’s resources that will be used to satisfy the performance obligation under the contract, and iii) are expected to be recovered through revenue generated from the contract. Capitalized fulfillment costs are amortized to cost of revenue as the Company satisfies the related performance obligations under the contract with approximate lives ranging from 1 year to 3 years. These costs, which are included in prepaid expenses and other current assets and other assets on the Consolidated Balance Sheets, generally represent upfront costs incurred to prepare for manufacturing activities.
The Company assesses the capitalized fulfillment costs for impairment at the end of each reporting period. The Company will recognize an impairment loss to the extent the carrying amount of the capitalized costs exceeds the recoverable amount. Recoverability is assessed by considering the capitalized fulfillment costs in relation to the forecasted profitability of the related manufacturing performance obligations.
As of August 31, 2024, and 2023, capitalized costs to fulfill were $141 million and $203 million, respectively. Amortization of fulfillment costs were $80 million, $91 million, and $74 million during the fiscal years ended August 31, 2024, 2023, and 2022, respectively. Immaterial impairments for fulfillment costs were recognized during the fiscal years ended August 31, 2024, 2023, and 2022, respectively. During the fiscal year ended August 31, 2024, the Company had $47 million of capitalized fulfillment costs which were disposed of as part of the divestiture of the Mobility Business. See Note 17 - “Business Acquisitions and Divestitures” for additional information.
Property, Plant and Equipment, net
Property, plant and equipment is capitalized at cost and depreciated using the straight-line depreciation method over the estimated useful lives of the respective assets. Estimated useful lives for major classes of depreciable assets are as follows:
Asset ClassEstimated Useful Life
Buildings
Up to 35 years
Leasehold improvementsShorter of lease term or useful life of the improvement
Machinery and equipment
2 to 10 years
Furniture, fixtures and office equipment5 years
Computer hardware and software
3 to 7 years
Transportation equipment3 years
Maintenance and repairs are expensed as incurred. The cost and related accumulated depreciation of assets sold or retired is removed from the accounts and any resulting gain or loss is reflected in the Consolidated Statements of Operations as a component of operating income.
Leases
The Company primarily has leases for buildings, machinery, and equipment with lease terms ranging from 1 year to 32 years. Leases for other classes of assets are not significant. For any leases with an initial term in excess of 12 months, the Company determines whether an arrangement is a lease at contract inception by evaluating if the contract conveys the right to use and control the specific property or equipment. Certain lease agreements contain purchase or renewal options. These options are included in the lease term when it is reasonably certain that the Company will exercise that option. Generally, the Company’s lease agreements do not contain material restrictive covenants.
Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized based on the present value of future lease payments over the lease term at the lease commencement date. When determining the present value of future payment, the Company uses the incremental borrowing rate when the implicit rate is not readily determinable. Any payment deemed probable under residual value guarantees is included in lease payments. Any variable payments, other than those that depend on an index or rate, are excluded from right-of-use assets and lease liabilities.
Leases with an initial term of 12 months or less are not recorded as right-of-use assets and lease liabilities in the Consolidated Balance Sheets. Lease expense for these leases is recognized on a straight-line basis over the lease term. The Company has elected the practical expedient to combine lease and non-lease components for building and real estate leases.
Certain equipment and buildings held under finance leases are classified as property, plant and equipment and the related obligation is recorded as accrued expenses and other liabilities on the Consolidated Balance Sheets.
Goodwill and Other Intangible Assets
The Company accounts for goodwill in a business combination as the excess of the cost over the fair value of net assets acquired and is assigned to the reporting unit in which the acquired business will operate. The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of each fiscal year or whenever events or changes in circumstances indicate the carrying amount may not be recoverable.
The recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. The Company may elect to perform a qualitative assessment to determine whether it is more likely than not that a reporting unit is impaired. If the qualitative assessment is not performed or if the Company determines that it is not more likely than not that the fair value of the reporting unit exceeds the carrying value, the Company determines the fair value of its reporting units based on an average weighting of both projected discounted future results and the use of comparative market multiples. If the carrying amount of the reporting unit exceeds its fair value, goodwill is considered impaired and a loss recognized in the amount equal to that excess.
The recoverability of indefinite-lived intangible assets is measured by comparing the carrying amount to the fair value. The Company may elect to perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible is impaired. If the qualitative assessment is not performed or if the Company determines that it is not more likely than not that the fair value of an indefinite-lived intangible exceeds the carrying value, the Company determines the fair value principally based on a variation of the income approach, known as the relief from royalty method. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, the indefinite-lived intangible asset is considered impaired.
Business combinations can also result in other intangible assets being recognized. Finite-lived intangible assets are amortized on either a straight-line or accelerated basis over their estimated useful life and include contractual agreements and customer relationships, tradenames and intellectual property. No significant residual values are estimated for the amortizable intangible assets.
Long-lived Assets
Long-lived assets, such as property, plant, and equipment, and finite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of the asset or asset group is measured by comparing its carrying amount to the undiscounted future net cash flows the asset is expected to generate. If the carrying amount of an asset or asset group is not recoverable, the Company recognizes an impairment loss based on the excess of the carrying amount of the long-lived asset or asset group over its respective fair value, which is generally determined as the present value of estimated future cash flows or as the appraised value.
Derivative Instruments
All derivative instruments are recorded gross on the Consolidated Balance Sheets at their respective fair values. The accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument.
For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative and the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized immediately in current earnings. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative instrument is initially reported as a component of AOCI, net of tax, and is subsequently reclassified into the line item within the Consolidated Statements of Operations in which the hedged items are recorded in the same period in which the hedged item affects earnings. The ineffective and excluded portions of the gain or loss is recognized immediately in current earnings. For derivative instruments that are designated and qualify as a net investment hedge, the effective portion of the gain or loss on the derivative instrument is included in change in foreign currency translation in OCI to offset the change in the carrying value of the net investment being hedged until the complete or substantially complete liquidation of the hedged foreign operation. The ineffective and excluded portions of the gain or loss is recognized immediately in current earnings. For derivative instruments that are not designated as hedging instruments, gains and losses from changes in fair values are recognized immediately in current earnings. Cash receipts and cash payments related to derivative instruments are recorded in the same category as the cash flows from the items being hedged on the Consolidated Statements of Cash Flows.
See Note 11 – “Derivative Financial Instruments and Hedging Activities” for additional information.
Foreign Currency Transactions
For the Company’s foreign subsidiaries that use a currency other than the U.S. dollar as their functional currency, the assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at the average exchange rate for the period. The effects of these translation adjustments are reported in accumulated other comprehensive income. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity involved are included in operating income.
Revenue Recognition
The Company provides comprehensive electronics design, production and product management services to companies in various industries and end markets. The Company derives substantially all of its revenue from production and product management services (collectively referred to as “manufacturing services”), which encompasses the act of producing tangible products that are built to customer specifications, which are then provided to the customer.
The Company generally enters into manufacturing service contracts with its customers that provide the framework under which business will be conducted and customer purchase orders will be received for specific quantities and with predominantly fixed pricing. As a result, the Company considers its contract with a customer to be the combination of the manufacturing service contract and the purchase order, or any agreements or other similar documents.
The majority of the Company's manufacturing service contracts relate to manufactured products which have no alternative use and for which the Company has an enforceable right to payment for the work completed to date. As a result, revenue is recognized over time when or as the Company transfers control of the promised products or services (known as performance obligations) to its customers. For certain other contracts with customers that do not meet the over time revenue recognition criteria, transfer of control occurs at a point in time which generally occurs upon delivery and transfer of risk and title to the customer.
Most of the Company's contracts have a single performance obligation as the promise to transfer the individual manufactured product or service is capable of being distinct and is distinct within the context of the contract. For the majority of customers, performance obligations are satisfied over time based on the continuous transfer of control as manufacturing services are performed and are generally completed in less than one year.
The Company also derives revenue to a lesser extent from electronic design services to certain customers. Revenue from electronic design services is generally recognized over time as the services are performed.
For the Company’s over time customers, it believes the measure of progress which best depicts the transfer of control is based on costs incurred to date, relative to total estimated cost at completion (i.e., an input method). This method is a faithful depiction of the transfer of goods or services because it results in the recognition of revenue on the basis of the Company's to-date efforts in the satisfaction of a performance obligation relative to the total expected efforts in the satisfaction of the performance obligation. The transaction price of each performance obligation is generally based upon the contractual standalone selling price of the product or service.
Certain contracts with customers include variable consideration, such as periodic cost of materials adjustments, rebates, discounts, or returns. The Company recognizes estimates of this variable consideration that are not expected to result in a significant revenue reversal in the future, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs.
The Company is responsible for procuring certain components from suppliers for the manufacturing of finished goods at the direction of certain customers. If the Company does not obtain control of these components before they are transferred to the customer, the Company accounts for revenue associated with such components on a net basis. Revenue associated with components procured directly from customers is accounted for on a net basis if the components do not constitute a distinct good or service from the customer. As of August 31, 2024, and 2023, the Company had $734 million and $218 million, respectively, of components included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets, related to purchases made to procure components for customers whereby the associated revenue is expected to be accounted for on a net basis once transferred to the customer.
Taxes collected from the Company’s customers and remitted to governmental authorities are presented within the Company’s Consolidated Statements of Operations on a net basis and are excluded from the transaction price. The Company has elected to account for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the goods. Accordingly, the Company records customer payments of shipping and handling costs as a component of net revenue and classifies such costs as a component of cost of revenue.
Stock-Based Compensation
The Company recognizes stock-based compensation expense, reduced for estimated forfeitures, on a straight-line basis over the requisite service period of the award, which is generally the vesting period for outstanding stock awards.
The stock-based compensation expense for time-based and performance-based restricted stock unit awards (“restricted stock units”) is measured at fair value on the date of grant based on the number of shares expected to vest and the quoted market price of the Company’s common stock. For restricted stock units with performance conditions, stock-based compensation expense is originally based on the number of shares that would vest if the Company achieved 100% of the performance goal, which is the intended outcome at the grant date. Throughout the requisite service period, management monitors the probability of achievement of the performance condition. If it becomes probable, based on the Company’s performance, that more or less than the current estimate of the awarded shares will vest, an adjustment to stock-based compensation expense will be recognized as a change in accounting estimate in the period that such probability changes.
The stock-based compensation expense for market-based restricted stock units is measured at fair value on the date of grant. The market conditions are considered in the grant date fair value using a Monte Carlo valuation model, which utilizes multiple input variables to determine the probability of the Company achieving the specified market conditions. Stock-based compensation expense related to an award with a market condition will be recognized over the requisite service period regardless of whether the market condition is satisfied, provided that the requisite service period has been completed.
The Company currently expects to satisfy share-based awards with registered shares available to be issued.
See Note 13 – “Stockholders’ Equity” for further discussion of stock-based compensation expense.
Income Taxes
Deferred tax assets (“DTAs”) and liabilities (“DTLs”) are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. DTAs and DTLs are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on DTAs and DTLs of a change in the tax rate is recognized in income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce its DTAs to the amount that is more likely than not to be realized. The Company considers future taxable income and ongoing feasible tax planning strategies in assessing the need for the valuation allowance.
The Company records the effects of the Global Intangible Low-Taxed Income (“GILTI”) as a period cost and applies the incremental cash tax savings approach when analyzing the impact GILTI could have on its U.S. valuation allowance.  The incremental cash tax savings approach considers the realizable benefit of a net operating loss and deferred tax assets by comparing the incremental cash taxes in the calculation of GILTI with and without the net operating loss and other DTAs.
Earnings Per Share
The Company calculates its basic earnings per share by dividing net income attributable to Jabil Inc. by the weighted average number of shares of common stock outstanding during the period. The Company’s diluted earnings per share is calculated in a similar manner but includes the effect of dilutive securities. The difference between the weighted average number of basic shares outstanding and the weighted average number of diluted shares outstanding is primarily due to dilutive unvested restricted stock units.
Potential shares of common stock are excluded from the computation of diluted earnings per share when their effect would be antidilutive. Performance-based restricted stock units are considered dilutive when the related performance criterion have been met assuming the end of the reporting period represents the end of the performance period. Market-based restricted stock units are considered dilutive when the related market criterion have been met assuming the end of the reporting period represents the end of the performance period. All potential shares of common stock are antidilutive in periods of net loss. Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):
 Fiscal Year Ended August 31,
 202420232022
Restricted stock units343.6 383.1 209.4 
Fair Value of Financial Instruments
Fair value is categorized in one of three levels based on the lowest level of significant input used. Level 1 – quoted market prices in active markets for identical assets and liabilities; Level 2 – inputs other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – unobservable inputs for the asset or liability.
v3.24.3
Trade Accounts Receivable Sale Programs
 12 Months Ended
Aug. 31, 2024
Transfers and Servicing [Abstract]  
Trade Accounts Receivable Sale Programs Trade Accounts Receivable Sale Programs
The Company regularly sells designated pools of high credit quality trade accounts receivable under uncommitted trade accounts receivable sale programs to unaffiliated financial institutions without recourse. As these accounts receivable are sold without recourse, the Company does not retain the associated risks following the transfer of such accounts receivable to the respective financial institutions. The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under each of the trade accounts receivable sale programs. The Company does not record a servicing asset or liability on the Consolidated Balance Sheets as the Company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities.
Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold under the trade accounts receivable sale programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.
The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):
Program
Maximum
Amount(1)
Type of
Facility		Expiration
Date
A
$350 
Uncommitted
(2)
B
$120 
Uncommitted
(2)
C
1,900 
CNY
Uncommitted
(2)
D
$150 
Uncommitted
May 4, 2028(2)
E
$170 
Uncommitted
(3)
F
$50 
Uncommitted
(3)
G
$100 
Uncommitted
(2)
H
$800 
Uncommitted
(2)
I
$250 
Uncommitted
(2)
J
8,100 
INR
Uncommitted
(2)
K
$100 
Uncommitted
(2)
L
$75 
Uncommitted
January 23, 2025(2)
(1)Maximum amount of trade accounts receivable that may be sold under a facility at any one time.
(2)Any party may elect to terminate the agreement upon 30 days prior notice.
(3)Any party may elect to terminate the agreement upon 15 days prior notice.
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
Fiscal Year Ended August 31,
202420232022
Trade accounts receivable sold$8,214 $10,784 $8,513 
Cash proceeds received$8,170 $10,748 $8,504 
Pre-tax losses on sale of receivables(1)
$44 $36 $9 
(1)Recorded to other expense within the Consolidated Statements of Operations.
Asset-Backed Securitization Programs
Certain Jabil entities participating in the global asset-backed securitization program continuously sell designated pools of trade accounts receivable to a special purpose entity, which in turn sells certain of the receivables at a discount to conduits administered by an unaffiliated financial institution on a monthly basis. In addition, the foreign entity participating in the global asset-backed securitization program sells certain receivables at a discount to conduits administered by an unaffiliated financial institution on a daily basis.
The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under the global asset-backed securitization programs. The Company does not record a servicing asset or liability on the Consolidated Balance Sheets as the Company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities.
The special purpose entity in the global asset-backed securitization program is a wholly-owned subsidiary of the Company and is included in the Company’s Consolidated Financial Statements. Certain unsold receivables covering up to the maximum amount of net cash proceeds available under the domestic, or U.S., portion of the global asset-backed securitization program are pledged as collateral to the unaffiliated financial institution as of August 31, 2024.
The global asset-backed securitization program expires on November 25, 2024. Effective February 20, 2024, the terms of the global asset-backed securitization program were amended to increase the maximum amount of net cash proceeds available at any one time from $600 million to $700 million. As of August 31, 2024, the Company had no available liquidity under its global asset-backed securitization program.
Transfers of the receivables under the asset-backed securitization programs are accounted for as sales and, accordingly, net receivables sold under the asset-backed securitization programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
Fiscal Year Ended August 31,
202420232022
Trade accounts receivable sold$4,000 $4,101 $3,932 
Cash proceeds received(1)
$3,953 $4,061 $3,919 
Pre-tax losses on sale of receivables(2)
$47 $40 $13 
(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2)Recorded to other expense within the Consolidated Statements of Operations.
The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Credit Facility. As of August 31, 2024, 2023, and 2022, the Company was in compliance with all covenants under the global asset-backed securitization program.
v3.24.3
Inventories
 12 Months Ended
Aug. 31, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consist of the following (in millions):
August 31, 2024
August 31, 2023(1)
Raw materials$3,903 $4,804 
Work in process190 217 
Finished goods246 243 
Reserve for excess and obsolete inventory(63)(58)
Inventories, net$4,276 $5,206 
(1)Excludes $559 million of inventories, net classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
v3.24.3
Property, Plant and Equipment
 12 Months Ended
Aug. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment consists of the following (in millions):
 August 31, 2024
August 31, 2023(1)
Land and improvements$108 $107 
Buildings1,451 1,281 
Leasehold improvements681 676 
Machinery and equipment4,278 4,362 
Furniture, fixtures and office equipment218 229 
Computer hardware and software824 840 
Transportation equipment7 7 
Construction in progress193 147 
Property, plant and equipment7,760 7,649 
Less accumulated depreciation and amortization4,736 4,512 
Property, plant and equipment, net$3,024 $3,137 
(1)Excludes $724 million of property, plant and equipment, net classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Depreciation and maintenance and repair expenses were as follows for the periods indicated (in millions):
 Fiscal Year Ended August 31,
 202420232022
Depreciation expense$656 $891 $891 
Maintenance and repair expense$335 $431 $395 
As of August 31, 2024, and 2023, the Company had $122 million and $357 million, respectively, included in accounts payable for the acquisition of property, plant, and equipment, which is considered a non-cash investing activity in the Consolidated Statements of Cash Flows.
v3.24.3
Leases
 12 Months Ended
Aug. 31, 2024
Leases [Abstract]  
Leases Leases
The following table sets forth the amount of lease assets and lease liabilities included on the Company's Consolidated Balance Sheets, as of the periods indicated (in millions):
Financial Statement Line ItemAugust 31, 2024
August 31, 2023(1)
Assets
Operating lease assetsOperating lease right-of-use assets$360 $367 
Finance lease assets(2)
Property, plant and equipment, net378 310 
Total lease assets$738 $677 
Liabilities
Current
Operating lease liabilitiesCurrent operating lease liabilities$93 $104 
Finance lease liabilitiesAccrued expenses119 74 
Non-current
Operating lease liabilitiesNon-current operating lease liabilities284 269 
Finance lease liabilitiesOther liabilities235 212 
Total lease liabilities$731 $659 
(1)Excludes operating lease and finance lease assets and liabilities classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Net of accumulated amortization of $162 million and $199 million as of August 31, 2024 and 2023, respectively.
The following table is a summary of expenses related to leases included on the Company's Consolidated Statements of Operations, for the periods indicated (in millions):
Fiscal Year Ended August 31,
 20242023
Operating lease cost$118 $147 
Finance lease cost
Amortization of leased assets50 89 
Interest on lease liabilities10 9 
Net lease cost(1)(2)
$178 $245 
(1)Lease costs are primarily recognized in cost of revenue.
(2)Excludes immaterial amounts of short term leases, variable lease costs and sublease income.
The following table is a summary of the weighted-average remaining lease terms and weighted-average discount rates of the Company's leases, as of the periods indicated:
August 31, 2024August 31, 2023
Weighted-average remaining lease termWeighted-average discount rateWeighted-average remaining lease termWeighted-average discount rate
Operating leases5.7 years3.80 %5.2 years3.55 %
Finance leases5.2 years4.23 %2.1 years3.84 %
The following table sets forth other supplemental information related to the Company's lease portfolio (in millions):
Fiscal Year Ended August 31,
 20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases(1)
$116 $135 
Operating cash flows for finance leases(1)
$10 $9 
Financing activities for finance leases(2)
$111 $157 
Non-cash right-of-use assets obtained in exchange for lease liabilities:
Operating leases$109 $110 
Finance leases$163 $131 
(1)Included in accounts payable, accrued expenses and other liabilities in Operating Activities of the Company's Consolidated Statements of Cash Flows.
(2)Included in payments toward debt agreements in Financing Activities of the Company's Consolidated Statements of Cash Flows.
The following table sets forth a maturity analysis of operating and finance lease liabilities as of August 31, 2024 (in millions):
Fiscal Year Ended August 31,
Operating Leases(1)
Finance Leases(1)(2)(3)
Total
2025
$106 $129 $235 
2026
83 124 207 
2027
61 23 84 
2028
48 18 66 
2029
41 13 54 
Thereafter86 91 177 
Total lease payments$425 $398 $823 
Less: Imputed interest(48)(44)(92)
Present value of lease liabilities$377 $354 $731 
(1)Excludes $25 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.
(2)Includes a $94 million lease liability related to a lease with a variable interest entity (“VIE”), for which the Company is not the primary beneficiary. The Company’s maximum exposure to loss related to the VIE is $124 million.
(3)Excludes $274 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.
Leases Leases
The following table sets forth the amount of lease assets and lease liabilities included on the Company's Consolidated Balance Sheets, as of the periods indicated (in millions):
Financial Statement Line ItemAugust 31, 2024
August 31, 2023(1)
Assets
Operating lease assetsOperating lease right-of-use assets$360 $367 
Finance lease assets(2)
Property, plant and equipment, net378 310 
Total lease assets$738 $677 
Liabilities
Current
Operating lease liabilitiesCurrent operating lease liabilities$93 $104 
Finance lease liabilitiesAccrued expenses119 74 
Non-current
Operating lease liabilitiesNon-current operating lease liabilities284 269 
Finance lease liabilitiesOther liabilities235 212 
Total lease liabilities$731 $659 
(1)Excludes operating lease and finance lease assets and liabilities classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Net of accumulated amortization of $162 million and $199 million as of August 31, 2024 and 2023, respectively.
The following table is a summary of expenses related to leases included on the Company's Consolidated Statements of Operations, for the periods indicated (in millions):
Fiscal Year Ended August 31,
 20242023
Operating lease cost$118 $147 
Finance lease cost
Amortization of leased assets50 89 
Interest on lease liabilities10 9 
Net lease cost(1)(2)
$178 $245 
(1)Lease costs are primarily recognized in cost of revenue.
(2)Excludes immaterial amounts of short term leases, variable lease costs and sublease income.
The following table is a summary of the weighted-average remaining lease terms and weighted-average discount rates of the Company's leases, as of the periods indicated:
August 31, 2024August 31, 2023
Weighted-average remaining lease termWeighted-average discount rateWeighted-average remaining lease termWeighted-average discount rate
Operating leases5.7 years3.80 %5.2 years3.55 %
Finance leases5.2 years4.23 %2.1 years3.84 %
The following table sets forth other supplemental information related to the Company's lease portfolio (in millions):
Fiscal Year Ended August 31,
 20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases(1)
$116 $135 
Operating cash flows for finance leases(1)
$10 $9 
Financing activities for finance leases(2)
$111 $157 
Non-cash right-of-use assets obtained in exchange for lease liabilities:
Operating leases$109 $110 
Finance leases$163 $131 
(1)Included in accounts payable, accrued expenses and other liabilities in Operating Activities of the Company's Consolidated Statements of Cash Flows.
(2)Included in payments toward debt agreements in Financing Activities of the Company's Consolidated Statements of Cash Flows.
The following table sets forth a maturity analysis of operating and finance lease liabilities as of August 31, 2024 (in millions):
Fiscal Year Ended August 31,
Operating Leases(1)
Finance Leases(1)(2)(3)
Total
2025
$106 $129 $235 
2026
83 124 207 
2027
61 23 84 
2028
48 18 66 
2029
41 13 54 
Thereafter86 91 177 
Total lease payments$425 $398 $823 
Less: Imputed interest(48)(44)(92)
Present value of lease liabilities$377 $354 $731 
(1)Excludes $25 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.
(2)Includes a $94 million lease liability related to a lease with a variable interest entity (“VIE”), for which the Company is not the primary beneficiary. The Company’s maximum exposure to loss related to the VIE is $124 million.
(3)Excludes $274 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.
v3.24.3
Goodwill and Other Intangible Assets
 12 Months Ended
Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The Company completed its annual impairment analysis for goodwill during the fourth quarter of fiscal year 2024. The quantitative assessment was performed, and the Company determined that the fair values of the reporting units exceeded the carrying values and that no impairment existed as of the date of the impairment analysis. In connection with the divestiture of the Company’s Mobility Business, the Company performed an impairment analysis for goodwill recorded within the reporting unit impacted by the divestiture and the indefinite-lived (“Green Point”) trade name during the second quarter of fiscal year 2024. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
The following table presents the changes in goodwill allocated to the Company’s reportable segments, Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), during the fiscal years ended August 31, 2024 and 2023 (in millions):
EMSDMSTotal
Balance as of August 31, 2022
$79 $625 $704 
Acquisitions and adjustments— 24 24 
Change in foreign currency exchange rates1 9 10 
Goodwill classified as held for sale— (117)(117)
Balance as of August 31, 2023
80 541 621 
Acquisitions and adjustments— 34 34 
Change in foreign currency exchange rates— 6 6 
Balance as of August 31, 2024
$80 $581 $661 
The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in millions):
 August 31, 2024August 31, 2023
Gross
Carrying
Amount		Accumulated
Impairment
Gross
Carrying
Amount(1)
Accumulated
Impairment
Goodwill$1,681 $1,020 $1,641 $1,020 
(1)Excludes $117 million of goodwill classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
The following table presents the Company’s total purchased intangible assets as of August 31, 2024, and 2023 (in millions):
 Weighted
Average
Amortization
Period
(in years)		August 31, 2024August 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Contractual agreements and customer relationships
12$361 $(270)$91 $320 $(251)$69 
Intellectual property9198 (181)17 198 (177)21 
Finite-lived trade names(1)
2130 (95)35 79 (78)1 
Trade names(1)
Indefinite— — — 51 — 51 
Total intangible assets10$689 $(546)$143 $648 $(506)$142 
(1)In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Intangible asset amortization for fiscal years 2024, 2023, and 2022 was approximately $40 million, $33 million, and $34 million, respectively. The estimated future amortization expense is as follows (in millions):
Fiscal Year Ended August 31,
2025
$47 
2026
27 
2027
18 
2028
16 
2029
9 
Thereafter26 
Total$143 
v3.24.3
Notes Payable and Long-Term Debt
 12 Months Ended
Aug. 31, 2024
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt 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 DateAugust 31, 2024August 31, 2023
3.950% Senior Notes(1)(2)
Jan 12, 2028$498 $497 
3.600% Senior Notes(1)(2)
Jan 15, 2030497 496 
3.000% Senior Notes(1)(2)
Jan 15, 2031594 593 
1.700% Senior Notes(1)(2)
Apr 15, 2026499 498 
4.250% Senior Notes(1)(2)
May 15, 2027496 495 
5.450% Senior Notes(1)(2)(3)
Feb 1, 2029296 296 
Borrowings under credit facilities(4)(5)
Jan 22, 2026 and Jan 22, 2028— — 
Borrowings under loansJul 31, 2026— — 
Total notes payable and long-term debt2,880 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.
In the ordinary course of business, the Company has letters of credit and surety bonds with banks and insurance companies outstanding of $58 million as of August 31, 2024. Unused letters of credit were $60 million as of August 31, 2024. Letters of credit and surety bonds are generally available for draw down in the event the Company does not perform.
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 
Thereafter1,091 
Total$2,880 
Debt Covenants
Borrowings under the Company’s debt agreements are subject to various covenants that limit the Company’s ability to: incur additional indebtedness, sell assets, effect mergers and certain transactions, and effect certain transactions with subsidiaries and affiliates. In addition, the revolving credit facilities contain debt leverage and interest coverage covenants. The Company is also subject to certain covenants requiring the Company to offer to repurchase the 3.950%, 3.600%, 3.000%, 1.700%, 4.250% or 5.450% Senior Notes upon a change of control. As of August 31, 2024, and 2023, the Company was in compliance with its debt covenants.
Fair Value
Refer to Note 18 – “Fair Value Measurements” for the estimated fair values of the Company’s notes payable and long-term debt.
v3.24.3
Asset-Backed Securitization Programs
 12 Months Ended
Aug. 31, 2024
Transfers and Servicing [Abstract]  
Asset-Backed Securitization Programs Trade Accounts Receivable Sale Programs
The Company regularly sells designated pools of high credit quality trade accounts receivable under uncommitted trade accounts receivable sale programs to unaffiliated financial institutions without recourse. As these accounts receivable are sold without recourse, the Company does not retain the associated risks following the transfer of such accounts receivable to the respective financial institutions. The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under each of the trade accounts receivable sale programs. The Company does not record a servicing asset or liability on the Consolidated Balance Sheets as the Company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities.
Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold under the trade accounts receivable sale programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.
The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):
Program
Maximum
Amount(1)
Type of
Facility		Expiration
Date
A
$350 
Uncommitted
(2)
B
$120 
Uncommitted
(2)
C
1,900 
CNY
Uncommitted
(2)
D
$150 
Uncommitted
May 4, 2028(2)
E
$170 
Uncommitted
(3)
F
$50 
Uncommitted
(3)
G
$100 
Uncommitted
(2)
H
$800 
Uncommitted
(2)
I
$250 
Uncommitted
(2)
J
8,100 
INR
Uncommitted
(2)
K
$100 
Uncommitted
(2)
L
$75 
Uncommitted
January 23, 2025(2)
(1)Maximum amount of trade accounts receivable that may be sold under a facility at any one time.
(2)Any party may elect to terminate the agreement upon 30 days prior notice.
(3)Any party may elect to terminate the agreement upon 15 days prior notice.
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
Fiscal Year Ended August 31,
202420232022
Trade accounts receivable sold$8,214 $10,784 $8,513 
Cash proceeds received$8,170 $10,748 $8,504 
Pre-tax losses on sale of receivables(1)
$44 $36 $9 
(1)Recorded to other expense within the Consolidated Statements of Operations.
Asset-Backed Securitization Programs
Certain Jabil entities participating in the global asset-backed securitization program continuously sell designated pools of trade accounts receivable to a special purpose entity, which in turn sells certain of the receivables at a discount to conduits administered by an unaffiliated financial institution on a monthly basis. In addition, the foreign entity participating in the global asset-backed securitization program sells certain receivables at a discount to conduits administered by an unaffiliated financial institution on a daily basis.
The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under the global asset-backed securitization programs. The Company does not record a servicing asset or liability on the Consolidated Balance Sheets as the Company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities.
The special purpose entity in the global asset-backed securitization program is a wholly-owned subsidiary of the Company and is included in the Company’s Consolidated Financial Statements. Certain unsold receivables covering up to the maximum amount of net cash proceeds available under the domestic, or U.S., portion of the global asset-backed securitization program are pledged as collateral to the unaffiliated financial institution as of August 31, 2024.
The global asset-backed securitization program expires on November 25, 2024. Effective February 20, 2024, the terms of the global asset-backed securitization program were amended to increase the maximum amount of net cash proceeds available at any one time from $600 million to $700 million. As of August 31, 2024, the Company had no available liquidity under its global asset-backed securitization program.
Transfers of the receivables under the asset-backed securitization programs are accounted for as sales and, accordingly, net receivables sold under the asset-backed securitization programs are excluded from accounts receivable on the Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Consolidated Statements of Cash Flows.
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
Fiscal Year Ended August 31,
202420232022
Trade accounts receivable sold$4,000 $4,101 $3,932 
Cash proceeds received(1)
$3,953 $4,061 $3,919 
Pre-tax losses on sale of receivables(2)
$47 $40 $13 
(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2)Recorded to other expense within the Consolidated Statements of Operations.
The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Credit Facility. As of August 31, 2024, 2023, and 2022, the Company was in compliance with all covenants under the global asset-backed securitization program.
v3.24.3
Accrued Expenses
 12 Months Ended
Aug. 31, 2024
Accrued Liabilities, Current [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consist of the following (in millions):
August 31, 2024
August 31, 2023(1)
Inventory deposits$1,582 $1,839 
Contract liabilities(2)
1,017 886 
Accrued compensation and employee benefits699 743 
Other accrued expenses2,201 2,047 
Accrued expenses$5,499 $5,515 
(1)Excludes $364 million of accrued expenses classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Revenue recognized during the fiscal years ended August 31, 2024 and 2023 that was included in the contract liability balance as of August 31, 2023, and 2022 was $507 million and $539 million, respectively.
v3.24.3
Postretirement and Other Employee Benefits
 12 Months Ended
Aug. 31, 2024
Retirement Benefits [Abstract]  
Postretirement and Other Employee Benefits Postretirement and Other Employee Benefits
Postretirement Benefits
The Company has a qualified defined benefit pension plan for employees of Jabil Circuit UK Limited (the “UK plan”). The UK plan, which is closed to new participants, provides benefits based on average employee earnings over a three-year service period preceding retirement and length of employee service. The Company’s policy is to contribute amounts sufficient to meet minimum funding requirements as set forth in UK employee benefit and tax laws plus such additional amounts as are deemed appropriate by the Company.
The Company also has a qualified defined benefit pension plan for employees in Switzerland (the “Switzerland plan”). The Switzerland plan provides benefits based on average employee earnings over an approximately 8-year service period preceding retirement and length of employee service. The Company’s policy is to contribute amounts sufficient to meet minimum funding requirements as set forth in Switzerland employee benefit and tax laws plus such additional amounts as are deemed appropriate by the Company.
Additionally, as a result of acquiring various other operations in Europe, Asia and Mexico the Company assumed both qualified and unfunded nonqualified retirement benefits covering eligible employees who meet age and service requirements (the “other plans”).
The UK plan, Switzerland plan, and other plans are collectively referred to herein as the “plans.”
Benefit Obligation and Plan Assets
The projected benefit obligations (“PBO”) and plan assets, changes to the PBO and plan assets and the funded status of the plans as of and for the fiscal years ended August 31 are as follows (in millions):
 Fiscal Year Ended August 31,
 20242023
Change in PBO
Beginning PBO$461 $432 
Service cost21 18 
Interest cost12 12 
Actuarial loss (gain)
32 (23)
Settlements paid from plan assets(1)
(43)(27)
Total benefits paid(10)(16)
Plan participants’ contributions13 22 
Plan amendments11 — 
Effect of conversion to U.S. dollars16 43 
Ending PBO$513 $461 
Change in plan assets
Beginning fair value of plan assets486 459 
Actual return on plan assets41 (16)
Settlements paid from plan assets(1)
(43)(27)
Employer contributions17 18 
Benefits paid from plan assets(10)(15)
Plan participants’ contributions13 22 
Effect of conversion to U.S. dollars20 45 
Ending fair value of plan assets$524 $486 
Funded status$11 $25 
Amounts recognized in the Consolidated Balance Sheets
Accrued benefit liability, current$2 $1 
Accrued benefit asset, noncurrent$13 $26 
Accumulated other comprehensive loss(2)
Actuarial gain, before tax
$(54)$(71)
Prior service cost, before tax
$23 $16 
(1)The settlements recognized during fiscal years 2024 and 2023 relate primarily to the Switzerland plan.
(2)The Company anticipates amortizing $2 million and $5 million, before tax, of net actuarial gain and prior service cost balances, respectively, to net periodic cost in fiscal year 2025.
Accumulated Benefit Obligation
The following table summarizes the total accumulated benefit obligations (“ABO”), the ABO and fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the PBO and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets for fiscal years 2024 and 2023 (in millions):
 August 31, 2024August 31, 2023
ABO$495 $441 
Plans with ABO in excess of plan assets
ABO$41 $41 
Fair value of plan assets$14 $15 
Plans with PBO in excess of plan assets
PBO$50 $52 
Fair value of plan assets$14 $15 
Net Periodic Benefit Cost
The following table provides information about the net periodic benefit cost for the plans for fiscal years 2024, 2023 and 2022 (in millions):
 Fiscal Year Ended August 31,
 202420232022
Service cost(1)
$21 $18 $25 
Interest cost(2)
12 12 4 
Expected long-term return on plan assets(2)
(17)(17)(17)
Recognized actuarial gain(2)
(7)(7)(6)
Amortization of actuarial gains(2)(3)
(3)(7)(8)
Net settlement loss(2)
— — 1 
Amortization of prior service costs(2)
5 4 4 
Net periodic benefit cost
$11 $3 $3 
(1)Service cost is recognized in cost of revenue in the Consolidated Statements of Operations.
(2)Components are recognized in other expense in the Consolidated Statements of Operations.
(3)Actuarial gains and losses are amortized using a corridor approach. The gain/loss corridor is equal to 10 percent of the greater of the projected benefit obligation and the fair value of plan assets. Gains and losses in excess of the corridor are generally amortized over the average future working lifetime of the plan participants.
Assumptions
Weighted-average actuarial assumptions used to determine net periodic benefit cost and PBO for the plans for the fiscal years 2024, 2023, and 2022 were as follows:
 Fiscal Year Ended August 31,
 202420232022
Net periodic benefit cost:
       Expected long-term return on plan assets(1)
3.7 %3.6 %3.0 %
Rate of compensation increase1.9 %2.1 %2.2 %
Discount rate2.8 %2.6 %0.7 %
PBO:
Expected long-term return on plan assets3.7 %3.7 %3.6 %
Rate of compensation increase1.8 %1.9 %2.1 %
       Discount rate(2)
2.1 %2.8 %2.6 %
(1)The expected return on plan assets assumption used in calculating net periodic benefit cost is based on historical return experience and estimates of future long-term performance with consideration to the expected investment mix of the plan.
(2)The discount rate is used to state expected cash flows relating to future benefits at a present value on the measurement date. This rate represents the market rate for high-quality fixed income investments whose timing would match the cash outflow of retirement benefits. Other assumptions include demographic factors such as retirement, mortality and turnover.
Plan Assets
The Company has adopted an investment policy for a majority of plan assets, which was set by plan trustees who have the responsibility for making investment decisions related to the plan assets. The plan trustees oversee the investment allocation, including selecting professional investment managers and setting strategic targets. The investment objectives for the assets are (1) to acquire suitable assets that hold the appropriate liquidity in order to generate income and capital growth that, along with new contributions, will meet the cost of current and future benefits under the plan, (2) to limit the risk of the plan assets from failing to meet the plan liabilities over the long-term, and (3) to minimize the long-term costs under the plan by maximizing the return on the plan assets.
Investment policies and strategies governing the assets of the plans are designed to achieve investment objectives with prudent risk parameters. Risk management practices include the use of external investment managers; the maintenance of a portfolio diversified by asset class, investment approach and security holdings; and the maintenance of sufficient liquidity to meet benefit obligations as they come due. Within the equity securities class, the investment policy provides for investments in a broad range of publicly traded securities including both domestic and international stocks. Within the debt securities class, the investment policy provides for investments in corporate bonds as well as fixed and variable interest debt instruments. The Company currently expects to achieve a target mix of 40% equity and 60% debt securities in fiscal year 2025.
Fair Value
The fair values of the plan assets held by the Company by asset category are as follows (in millions):
  August 31, 2024August 31, 2023
 Fair Value
Hierarchy		Fair ValueAsset
Allocation		Fair ValueAsset
Allocation
Asset Category
Cash and cash equivalents(1)
Level 1$12 2 %$17 3 %
Equity Securities:
Global equity securities(2)(3)
Level 2235 45 %213 44 %
Debt Securities:
Corporate bonds(3)
Level 2223 43 %216 45 %
Government bonds(3)
Level 243 8 %30 6 %
Other Investments:
Insurance contracts(4)
Level 311 2 %10 2 %
Fair value of plan assets
$524 100 %$486 100 %
 
(1)Carrying value approximates fair value.
(2)Investments in equity securities by companies incorporated, listed or domiciled in developed and/or emerging market countries.
(3)Investments in global equity securities, corporate bonds, government securities and government bonds are valued using the quoted prices of securities with similar characteristics.
(4)Consist of an insurance contract that guarantees the payment of the funded pension entitlements, as well as provides a profit share to the Company. The profit share in this contract is not based on actual investments, but, instead on a notional investment portfolio that is expected to return a pre-defined rate. Insurance contract assets are recorded at fair value and is determined based on the cash surrender value of the insured benefits which is the present value of the guaranteed funded benefits. Insurance contracts are valued using unobservable inputs (Level 3 inputs), primarily by discounting expected future cash flows relating to benefits paid from a notional investment portfolio in order to determine the cash surrender value of the policy. The unobservable inputs consist of estimated future benefits to be paid throughout the duration of the policy and estimated discount rates, which both have an immaterial impact on the fair value estimate of the contract.
Cash Flows
The Company expects to make cash contributions between $26 million and $31 million to its funded pension plans during fiscal year 2025. The estimated future benefit payments, which reflect expected future service, are as follows (in millions):
Fiscal Year Ended August 31,Amount
2025
$28 
2026
$26 
2027
$30 
2028
$30 
2029
$30 
2030 through 2034
$162 
Profit Sharing, 401(k) Plan and Defined Contribution Plans
The Company provides retirement benefits to its domestic employees who have completed a 30-day period of service through a 401(k) plan that provides a matching contribution by the Company. The Company also has defined contribution benefit plans for certain of its international employees. The Company contributed approximately $78 million, $74 million and $63 million for defined contribution plans for the fiscal years ended August 31, 2024, 2023, and 2022, respectively.
v3.24.3
Derivative Financial Instruments and Hedging Activities
 12 Months Ended
Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments and Hedging Activities
The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as market risks. The Company, where deemed appropriate, uses derivatives as risk management tools to mitigate the potential impact of certain market risks. The primary market risks managed by the Company through the use of derivative instruments are foreign currency risk and interest rate risk.
All derivative instruments are recorded gross on the Consolidated Balance Sheets at their respective fair values. Changes in fair value of derivative instruments are recorded in the Consolidated Statements of Operations, or as a component of AOCI in the Consolidated Balance Sheets, as discussed below.
Foreign Currency Risk Management
The Company enters into forward foreign exchange contracts to manage the foreign currency risk associated with the anticipated foreign currency denominated revenues and expenses.
Cash Flow Hedges
The Company enters into forward foreign exchange contracts to effectively lock in the value of anticipated foreign currency denominated revenues and expenses against foreign currency fluctuations. The related forward foreign exchange contracts have been designated as hedging instruments and are accounted for as cash flow hedges. The effective portion of the gain or loss on cash flow hedges is initially reported as a component of AOCI, net of tax, and is subsequently reclassified into the line item within the Consolidated Statements of Operations in which the hedged items are recorded, in the same period in which the hedged item affects earnings. The gains and losses recognized in earnings due to hedge ineffectiveness and the amount excluded from effectiveness testing are included as components of net revenue, cost of revenue and selling, general and administrative expense, which are the same line items in which the hedged items are recorded. The aggregate notional amount of these outstanding contracts as of August 31, 2024, and 2023, was $353 million and $491 million, respectively. The anticipated foreign currency denominated revenues and expenses being hedged are expected to occur between September 1, 2024, and August 31, 2025.
Net Investment Hedges
In addition, the Company has entered into forward foreign exchange contracts to hedge a portion of its net investment in foreign currency denominated operations, which are designated as net investment hedges. The effective portion of the gain or loss is included in change in foreign currency translation in OCI to offset the change in the carrying value of the net investment being hedged until the complete or substantially complete liquidation of the hedged foreign operation. The gains and losses recognized in earnings due to hedge ineffectiveness and the amounts excluded from effectiveness testing are included in interest expense, net. The maturity dates and aggregate notional amount of these outstanding contracts are as follows (in millions):
Maturity dateAugust 31, 2024August 31, 2023
September 2023$— $34 
October 2023— 96 
January 2024— 96 
April 2024— 68 
July 2024— 102 
October 2024140 — 
January 2025106 — 
July 202555 — 
January 2026106 — 
Total$407 $396 
Non-Designated Derivatives
In addition to derivatives that are designated as hedging instruments and qualify for hedge accounting, the Company also enters into forward foreign exchange contracts to economically hedge transactional exposure associated with commitments arising from trade accounts receivable, trade accounts payable, fixed purchase obligations and intercompany transactions denominated in a currency other than the functional currency of the respective operating entity. The gains and losses from changes in fair values are recognized immediately in current earnings. The aggregate notional amount of these outstanding contracts as of August 31, 2024, and 2023, was $2.6 billion and $4.0 billion, respectively.
The Effect of Derivative Instruments on AOCI and the Consolidated Statements of Operations
The following table sets forth the gains and losses of the Company's derivative instruments designated as cash flow hedges and net investment hedges in OCI, and not designated as hedging instruments in the Consolidated Statements of Operations for the periods presented (in millions):
Fiscal Year Ended August 31,
Financial Statement Line Item202420232022
Derivative instruments designated as cash flow hedges:
(Losses) gains recognized in OCI(1)
$(21)$(25)$1 
Losses (gains) reclassified from AOCI into earnings(1)(2)
Forward foreign exchange contractsCost of revenue$22 $44 $30 
Interest rate contractsInterest expense, net$(3)$(2)$2 
Derivative instruments designated as net investment hedges:
Losses recognized in OCI(1)
$(16)$(4)$— 
Gains reclassified from AOCI into earnings(1)
Gain from the divestiture of businesses$(4)$— $— 
Derivative instruments not designated as hedging instruments:
Gains (losses) recognized in earnings from forward foreign exchange contractsCost of revenue$16 $(111)$(71)
(Losses) gains recognized in earnings from changes in foreign currencyCost of revenue$(52)$58 $87 
(1)Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2024, 2023, and 2022.
(2)The Company expects to reclassify $8 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.
The gains and losses recognized in earnings due to amounts excluded from effectiveness testing were not material for all periods presented.
Refer to Note 18 – “Fair Value Measurements” for the fair values and classification of the Company’s derivative instruments.
Interest Rate Risk Management
The Company periodically enters into interest rate swaps to manage interest rate risk associated with the Company’s borrowings or anticipated debt issuances.
Contemporaneously with the issuance of the 5.450% Senior Notes in April 2023, the Company settled cash flow hedges with an aggregate notional amount of $150 million and $100 million, with effective dates of May 2021 and August 2022, respectively. The cash received for the cash flow hedges at settlement was $15 million. The settled cash flow hedges are recorded in the Consolidated Balance Sheets as a component of AOCI and are amortized to interest expense, net in the Consolidated Statements of Operations. As of August 31, 2024, there are no outstanding interest rate swaps.
Contemporaneously with the issuance of the 4.250% Senior Notes in April 2022, the Company settled cash flow hedges with an aggregate notional amount of $250 million and $170 million, with effective dates of November 2020 and March 2022, respectively. The cash received for the cash flow hedges at settlement was $46 million. The settled cash flow hedges are recorded in the Consolidated Balance Sheets as a component of AOCI and are amortized to interest expense, net in the Statements of Operations.
Contemporaneously with the issuance of the 3.000% Senior Notes in July 2020, the Company amended interest rate swap agreements with a notional amount of $200 million, with mandatory termination dates from August 15, 2020, through February 15, 2022 (the “2020 Extended Interest Rate Swaps”). In addition, the Company entered into interest rate swaps to offset future exposures of fluctuations in the fair value of the 2020 Extended Interest Rate Swaps (the “Offsetting Interest Rate Swaps”). The change in fair value of the 2020 Extended Interest Rate Swaps and Offsetting Interest Rate Swaps was recorded in the Consolidated Statements of Operations through the maturity date of February 15, 2022, as an adjustment to interest expense, net.
v3.24.3
Accumulated Other Comprehensive Income
 12 Months Ended
Aug. 31, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income
The following table sets forth the changes in AOCI, net of tax, by component during the fiscal year ended August 31, 2024 (in millions):
Foreign Currency
Translation Adjustment		Net Investment HedgesDerivative
Instruments		Actuarial Gain (Loss)Prior Service (Cost) CreditTotal
Balance as of August 31, 2023
$(59)$(4)$14 $46 $(14)$(17)
Other comprehensive income (loss) before reclassifications17 (16)

(21)(9)(9)(38)
Amounts reclassified from AOCI(2)(4)

19 (8)

4 9 
Other comprehensive income (loss)(1)
15 (20)(2)(17)(5)(29)
Balance as of August 31, 2024
$(44)$(24)$12 $29 $(19)$(46)
(1)Amounts are net of tax, which are immaterial.
The following table sets forth the amounts reclassified from AOCI into the Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):
Fiscal Year Ended August 31,(1)
Comprehensive Income ComponentsFinancial Statement Line Item202420232022
Realized gains on foreign currency translationGain from the divestiture of businesses$(2)$— $— 
Realized (gains) losses on pension and postretirement plans:
Actuarial gains
(2)
(8)(14)(14)
Prior service costs
(2)
4 4 4 
(1)Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2024, 2023 and 2022.
(2)Amounts are included in the computation of net periodic benefit cost. Refer to Note 10 – “Postretirement and Other Employee Benefits” for additional information.
Refer to Note 11 – “Derivative Financial Instruments and Hedging Activities” for the location of gains and losses on the Company’s derivative instruments that were reclassified from AOCI into the Consolidated Statements of Operations.
v3.24.3
Stockholders' Equity
 12 Months Ended
Aug. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders’ Equity
The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):
 Fiscal Year Ended August 31,
 202420232022
Restricted stock units(1)
$70 $81 $67 
Employee stock purchase plan19 14 14 
Total$89 $95 $81 
(1)During the fiscal year ended August 31, 2024, the Company recorded a $13 million reversal to stock-based compensation expense primarily due to forfeitures of time-based, performance-based and market-based restricted stock awards.
Equity Compensation Plan
The 2021 Equity Incentive Plan (the “2021 EIP”) provides for the grant of restricted stock awards, restricted stock unit awards and other stock-based awards. The maximum aggregate number of shares that are available for issuance under the 2021 EIP is 11,000,000.
Following is a reconciliation of the shares available to be issued under the 2021 EIP as of August 31, 2024:
 Shares Available for Grant
Balance as of August 31, 2023
8,463,733 
Restricted stock units granted, net of forfeitures(1)
(425,401)
Balance as of August 31, 2024
8,038,332 
 
(1)Represents the maximum number of shares that can be issued based on the achievement of certain performance criteria.
Restricted Stock Units
Certain key employees have been granted time-based, performance-based and market-based restricted stock units. The time-based restricted stock units granted generally vest on a graded vesting schedule over three years. The performance-based restricted stock units generally vest on a cliff vesting schedule over three years and up to a maximum of 150%, depending on the specified performance condition and the level of achievement obtained. The performance-based restricted stock units have a vesting condition that is based upon the Company’s cumulative adjusted core earnings per share during the performance period. The market-based restricted stock units generally vest on a cliff vesting schedule over three years and up to a maximum of 200%, depending on the specified performance condition and the level of achievement obtained. The market-based restricted stock units have a vesting condition that is tied to the Company’s total shareholder return based on the Company’s stock performance in relation to the companies in the Standard and Poor’s (S&P) Super Composite Technology Hardware and Equipment Index excluding the Company.
The following table summarizes restricted stock units activity from August 31, 2023 through August 31, 2024:
SharesWeighted-Average
Grant-Date
Fair Value
Outstanding as of August 31, 2023
3,908,753 $58.70 
Changes during the period
Shares granted(1)
809,015 $144.79 
Shares vested(1,802,380)$46.99 
Shares forfeited(383,614)$97.60 
Outstanding as of August 31, 2024
2,531,774 $91.51 
(1)For those shares granted that are based on the achievement of certain performance criteria, the amount represents the maximum number of shares that can vest. During the fiscal year ended August 31, 2024, the Company awarded approximately 0.5 million time-based restricted stock units, 0.1 million performance-based restricted stock units and 0.1 million market-based restricted stock units based on target performance criteria.
The following table represents the restricted stock units stock-based compensation information for the periods indicated (in millions):
 Fiscal Year Ended August 31,
 202420232022
Fair value of restricted stock units vested$85 $93 $72 
Tax benefit for stock compensation expense(1)
$3 $2 $2 
Unrecognized stock-based compensation expense — restricted stock units$47 
Remaining weighted-average period for restricted stock units expense1.4 years
 
(1)Classified as income tax expense within the Consolidated Statements of Operations.
Employee Stock Purchase Plan
The maximum aggregate number of shares available for issuance under the 2011 Employee Stock Purchase Plan (the “ESPP”) is 23,000,000.
Employees are eligible to participate in the ESPP after 90 days of employment with the Company. The ESPP permits eligible employees to purchase common stock through payroll deductions, which may not exceed 10% of an employee’s compensation, as defined in the ESPP, at a price equal to 85% of the fair value of the common stock at the beginning or end of the offering period, whichever is lower. The ESPP is intended to qualify under Section 423 of the Internal Revenue Code. As of August 31, 2024, 9,359,036 shares remained available for issue under the 2011 ESPP.
The fair value of shares issued under the ESPP was estimated on the commencement date of each offering period using the Black-Scholes option pricing model. The following weighted-average assumptions were used in the model for each respective period:
 Fiscal Year Ended August 31,
 202420232022
Expected dividend yield0.1 %0.3 %0.3 %
Risk-free interest rate5.4 %3.4 %0.1 %
Expected volatility(1)
34.1 %37.4 %29.6 %
Expected life0.5 years0.5 years0.5 years
(1)The expected volatility was estimated using the historical volatility derived from the Company’s common stock.
Dividends
The following table sets forth certain information relating to the Company’s cash dividends declared to common stockholders during fiscal years 2024 and 2023:
(in millions, except for per share data)Dividend
Declaration Date		Dividend
per Share		Total of Cash
Dividends
Declared		Date of Record for
Dividend Payment		Dividend Cash
Payment Date
Fiscal Year 2024
October 19, 2023$0.08 $11 November 15, 2023December 4, 2023
January 25, 2024$0.08 $10 February 15, 2024March 4, 2024
April 17, 2024$0.08 $9 May 15, 2024June 4, 2024
July 18, 2024$0.08 $10 August 15, 2024September 4, 2024
Fiscal Year 2023
October 20, 2022$0.08 $12 November 15, 2022December 2, 2022
January 26, 2023$0.08 $10 February 15, 2023March 2, 2023
April 20, 2023$0.08 $11 May 15, 2023June 2, 2023
July 20, 2023$0.08 $11 August 15, 2023September 5, 2023
Common Stock Outstanding
The following represents the common stock outstanding for the fiscal year ended:
Fiscal Year Ended August 31,
202420232022
Common stock outstanding:
Beginning balances
131,294,422 135,493,980 144,496,077 
Shares issued under employee stock purchase plan
628,960 1,043,294 970,480 
Vesting of restricted stock
1,802,380 2,014,802 2,503,143 
Purchases of treasury stock under employee stock plans
(537,318)(571,606)(713,667)
Treasury shares purchased(19,444,277)(6,686,048)(11,762,053)
Ending balances
113,744,167 131,294,422 135,493,980 
Treasury Shares Purchased
The Company repurchases shares of its common stock under share repurchase programs authorized by the Company’s Board of Directors. The following Board approved share repurchase programs were executed through a combination of open market transactions and accelerated share repurchase (“ASR”) agreements (in millions):
Board Approval DateAmount AuthorizedShares RepurchasedTotal Cash UtilizedRemaining AuthorizationAuthorization Completion Date
2022 Share Repurchase ProgramQ4 FY 2021$1,000 16.5$1,000 $— Q2 FY 2023
2023 Share Repurchase ProgramQ1 FY 2023$1,000 2.7$224 
(1)
Q4 FY 2023
Amended 2023 Share Repurchase ProgramQ1 FY 2024$2,500 20.4$2,500 $— Q1 FY 2025
2025 Share Repurchase Program(2)
Q1 FY 2025$1,000 0.7$84 $916 
(1)In September 2023, the Board of Directors amended and increased the 2023 Share Repurchase Program to allow for the repurchase of up to $2.5 billion of the Company’s common stock.
(2)As of October 21, 2024, 0.7 million shares had been repurchased for $84 million and $916 million remains available under the 2025 Share Repurchase Program.
Under ASR agreements, the Company makes payments to the participating financial institutions and receives an initial delivery of shares of common stock. The final number of shares delivered upon settlement of the ASR agreements is determined based on a discount to the volume weighted average price of the Company’s common stock during the term of the agreements. At the time the shares are received by the Company, the initial delivery and the final receipt of shares upon settlement of the ASR agreements results in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share.
The terms of ASR agreements, structured as outlined above, were as follows (in millions, except average price):
Agreement Execution DateAgreement Settlement DateAgreement AmountInitial Shares DeliveredAdditional Shares DeliveredTotal Shares DeliveredAverage Price Paid Per Share
Q1 FY 2024Q1 FY 2024$500 3.30.63.9$128.61 
Q4 FY 2024Q1 FY 2025$555 4.21.05.2$107.08 

In addition, the Company repurchased shares of its common stock through the open market as follows (in millions):
Fiscal Year Ended August 31,
202420232022
SharesCostSharesCostSharesCost
Open market share repurchases11.3$1,445 6.7$487 11.8$696 
v3.24.3
Concentration of Risk and Segment Data
 12 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
Concentration of Risk and Segment Data Concentration of Risk and Segment Data
Concentration of Risk
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and trade receivables. The Company maintains cash and cash equivalents with various domestic and foreign financial institutions. Deposits held with the financial institutions may exceed the amount of insurance provided on such deposits but may generally be redeemed upon demand. The Company performs periodic evaluations of the relative credit standing of the financial institutions and attempts to limit exposure with any one institution. For trade receivables, the Company performs ongoing credit evaluations of its customers and generally does not require collateral. The Company maintains an allowance for expected credit losses on trade receivables.
Sales of the Company’s products are concentrated among specific customers. For fiscal year 2024, the Company’s five largest customers accounted for approximately 36% of its net revenue and 88 customers accounted for approximately 90% of its net revenue. As the Company is a provider of manufacturing services and solutions and products are built based on customer specifications, it is impracticable to provide revenues from external customers for each product and service. Sales to the following customer accounted for 10% or more of the Company’s net revenues, expressed as a percentage of consolidated net revenue:
 Percentage of Net Revenue
Fiscal Year Ended August 31,
 202420232022
Apple, Inc.(1)
11 %17 %19 %
(1)Sales to this customer were reported in the DMS operating segment.
The Company procures components from a broad group of suppliers. Some of the products manufactured by the Company require one or more components that are available from only a single source.
Segment Data
Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses; for which separate financial information is available; and whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to assess the performance of the individual segment and make decisions about resources to be allocated to the segment.
The Company derives its revenue from providing comprehensive electronics design, production and product management services. The CODM evaluates performance and allocates resources on a segment basis. The Company’s operating segments consist of two segments – EMS and DMS, which are also the Company’s reportable segments. The segments are organized based on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital, and risk profiles.
The EMS segment is focused on leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing the Company’s large scale manufacturing infrastructure and the ability to serve a broad range of end markets. The EMS segment is a high-volume business that produces product at a quicker rate (i.e. cycle time) and in larger quantities and includes customers primarily in the 5G, wireless and cloud, digital print and retail, industrial and semi-capital equipment, and networking and storage industries.
The DMS segment is focused on providing engineering solutions, with an emphasis on material sciences, technologies and healthcare. The DMS segment includes customers primarily in the automotive and transportation, connected devices, and healthcare and packaging industries. The DMS segment included the results of the Mobility Business prior to the closing of its sale on December 29, 2023.
Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions and as a result of the organizational realignment, the Company will report its business in the following three segments: Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce. The Regulated Industries segment is focused on regulated markets and includes revenues from customers primarily in the automotive and transportation, healthcare and packaging, and renewable energy infrastructure industries. The Intelligent Infrastructure segment is focused on the modern digital ecosystem including artificial intelligence (“AI”) infrastructure and includes revenues from customers primarily in the capital equipment, cloud and data center infrastructure, and networking and communications industries. The Connected Living and Digital Commerce segment is focused on digitalization and automation, including warehouse automation and robotics, and includes revenues from customers primarily in the connected living and digital commerce industries.
Net revenue for the operating segments is attributed to the segment in which the service is performed. An operating segment’s performance is evaluated based on its pre-tax operating contribution, or segment income. Segment income is defined as net revenue less cost of revenue, segment selling, general and administrative expenses, segment research and development expenses and an allocation of corporate manufacturing expenses and selling, general and administrative expenses. Segment income does not include amortization of intangibles, stock-based compensation expense and related charges, restructuring, severance and related charges, distressed customer charges, loss on disposal of subsidiaries, settlement of receivables and related charges, impairment of notes receivable and related charges, goodwill impairment charges, business interruption and impairment charges, net, gain from the divestiture of businesses, acquisition and divestiture related charges, loss on debt extinguishment, (gain) loss on securities, income (loss) from discontinued operations, gain (loss) on sale of discontinued operations, other expense (excluding certain components of net periodic benefit cost), interest expense, net, income tax expense, or adjustment for net income (loss) attributable to noncontrolling interests.
Total segment assets are defined as accounts receivable, contract assets, inventories, net, customer-related property, plant and equipment, intangible assets net of accumulated amortization, and goodwill. All other non-segment assets are reviewed on a global basis by management. Transactions between operating segments are generally recorded at amounts that approximate those at which we would transact with third parties.
The following table presents the Company’s revenues disaggregated by segment (in millions):
Fiscal Year Ended August 31,
202420232022
EMSDMSTotalEMSDMSTotalEMSDMSTotal
Timing of transfer
Point in time$4,502 $3,908 $8,410 $5,094 $6,453 $11,547 $6,112 $6,818 $12,930 
Over time9,303 11,170 20,473 11,655 11,500 23,155 10,625 9,923 20,548 
Total$13,805 $15,078 $28,883 $16,749 $17,953 $34,702 $16,737 $16,741 $33,478 
The following tables set forth operating segment information (in millions):
 Fiscal Year Ended August 31,
 202420232022
Segment income and reconciliation of income before income tax
EMS$719 $837 $727 
DMS869 896 816 
Total segment income$1,588 $1,733 $1,543 
Reconciling items:
Amortization of intangibles(40)(33)(34)
Stock-based compensation expense and related charges(89)(95)(81)
Restructuring, severance and related charges(1)
(296)(57)(18)
Business interruption and impairment charges, net(2)
(16)— — 
Gain from the divestiture of businesses(3)
942 — — 
Acquisition and divestiture related charges(3)
(70)— — 
Loss on debt extinguishment— — (4)
Other expense (net of periodic benefit cost)(95)(80)(29)
Interest expense, net(173)(206)(146)
Income before income tax$1,751 $1,262 $1,231 
(1)Charges recorded during the fiscal year ended August 31, 2024, related to the 2024 Restructuring Plan. Charges recorded during the fiscal year ended August 31, 2023, related to headcount reduction to further optimize the Company’s business activities.
(2)Charges recorded during the fiscal year August 31, 2024, related to costs associated with product quality liabilities, which is classified as a component of cost of revenue and selling, general and administrative expenses in the Consolidated Statements of Operations.
(3)The Company completed the divestiture of its Mobility Business and recorded a pre-tax gain of $942 million, subject to certain post-closing adjustments that are still being finalized. The Company incurred $70 million of acquisition and
divestiture related charges during the fiscal year ended August 31, 2024, primarily related to the divestiture of its Mobility Business.
August 31, 2024August 31, 2023
Total assets:
EMS$4,384 $4,859 
DMS6,387 6,802 
Assets held for sale(1)
— 1,929 
Other non-allocated assets6,580 5,834 
Total$17,351 $19,424 
(1)Assets held for sale as of August 31, 2023 were reported in the DMS operating segment.
The Company operates in more than 30 countries worldwide. For geographical reporting, sales to unaffiliated customers are attributed to the Company location that maintains the customer relationship and transacts the external sale. Long-lived assets consist of property, plant and equipment, net and right-of-use assets and are attributed to the Company location in which they are located. The following tables set forth net revenue and long-lived asset information where individual countries accounted for 10% or more of the total, for the periods indicated (in millions):
 At and For the Fiscal Year Ended August 31,
 202420232022
Net RevenueLong-Lived AssetsNet RevenueLong-Lived AssetsNet RevenueLong-Lived Assets
Mexico
$5,872 $647 $6,083 $670 $5,630 $594 
China(1)
4,810 736 5,868 865 5,272 1,956 
Singapore(2)
4,486 *7,385 *7,916 *
Malaysia*352 ****
Other
8,668 1,074 10,431 1,338 9,271 1,272 
Total Foreign23,836 2,809 29,767 2,873 28,089 3,822 
U.S.
5,047 575 4,935 631 5,389 632 
Total$28,883 $3,384 $34,702 $3,504 $33,478 $4,454 
*  Amount was less than 10% of total.
(1)Excludes long-lived assets of $836 million classified as held for sale as of August 31, 2023. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Decrease in net revenue for the fiscal year ended August 31, 2024, is driven by the divestiture of the Mobility Business. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
v3.24.3
Restructuring, Severance and Related Charges
 12 Months Ended
Aug. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring, Severance and Related Charges Restructuring, Severance and Related Charges
Following is a summary of the Company’s restructuring, severance and related charges (in millions):
 Fiscal Year Ended August 31,
 
2024(1)
2023(2)
2022(2)
Employee severance and benefit costs$177 $48 $18 
Lease costs2 — — 
Asset write-off costs79 5 — 
Other costs38 4 — 
Total restructuring, severance and related charges(3)
$296 $57 $18 
(1)Primarily relates to the 2024 Restructuring Plan.
(2)Primarily relates to headcount reduction to further optimize the Company's business activities.
(3)Includes $76 million, $10 million and $1 million recorded in the EMS segment, $152 million, $35 million and $10 million recorded in the DMS segment and $68 million, $12 million and $7 million of non-allocated charges for the fiscal years ended August 31, 2024, 2023 and 2022, respectively. Except for asset write-off costs, all restructuring, severance and related charges are cash costs.
2024 Restructuring Plan
On September 26, 2023, the Company’s Board of Directors approved a restructuring plan to (i) realign the Company’s cost base for stranded costs associated with the Company’s sale and realignment of its Mobility Business and (ii) optimize the Company’s global footprint. This action includes headcount reductions across our Selling, General and Administrative (“SG&A”) cost base and capacity realignment (the “2024 Restructuring Plan”).
The 2024 Restructuring Plan, totaling approximately $300 million in pre-tax restructuring and other related costs, is substantially complete as of August 31, 2024.
The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):
Employee 
Severance
and Benefit Costs		Lease CostsAsset Write-off CostsOther Related CostsTotal
Balance as of August 31, 2023
$— $— $— $— $— 
Restructuring related charges177 2 79 38 296 
Asset write-off charge and other non-cash activity4 — (79)(16)(91)
Cash payments(115)(1)— (17)(133)
Balance as of August 31, 2024
$66 $1 $— $5 $72 
2025 Restructuring Plan
On September 24, 2024, the Company’s Board of Directors approved a restructuring plan to align our support infrastructure to further optimize organizational effectiveness. This action includes headcount reductions across our SG&A and manufacturing cost base and capacity realignment (the “2025 Restructuring Plan”). The 2025 Restructuring Plan reflects the Company’s intention only and restructuring decisions, and the timing of such decisions, at certain locations are still subject to consultation with the Company’s employees and their representatives.
The Company currently expects to recognize approximately $150 million to $200 million in pre-tax restructuring and other related costs over the course of the Company’s 2025 fiscal year. The charges relating to the 2025 Restructuring Plan are currently expected to result in net cash expenditures of approximately $100 million to $130 million that will be payable over the course of the Company’s fiscal years 2025 and 2026. The exact timing of these charges and cash outflows, as well as the estimated cost ranges by category type, have not been finalized. This information will be subject to the finalization of timetables for the transition of functions, consultation with employees and their representatives as well as the statutory severance requirements of the jurisdictions impacted, and the amount and timing of the actual charges may vary due to a variety of factors. The Company’s estimates for the charges discussed above exclude any potential income tax effects.
v3.24.3
Income Taxes
 12 Months Ended
Aug. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Provision for Income Taxes
Income (loss) before income tax expense is summarized below (in millions):
 Fiscal Year Ended August 31,
 202420232022
Domestic$(366)$(315)$(116)
Foreign2,117 1,577 1,347 
Total$1,751 $1,262 $1,231 
Income tax expense (benefit) is summarized below (in millions):
 Fiscal Year Ended August 31,
 202420232022
Current:
Domestic - federal$— $1 $7 
Domestic - state5 2 2 
Foreign442 350 239 
Total current447 353 248 
Deferred:
Domestic - federal12 (2)(25)
Domestic - state(2)4 — 
Foreign
(94)89 12 
Total deferred(84)91 (13)
Total income tax expense$363 $444 $235 
 
Reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is summarized below:
 Fiscal Year Ended August 31,
 202420232022
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State income taxes, net of federal tax benefit(0.3)0.2 0.7 
Impact of foreign tax rates(1)
0.1 (1.8)(4.0)
Permanent differences0.5 (0.5)1.2 
Income tax credits(1)
(0.7)(0.5)(0.5)
Valuation allowance(2)
3.5 1.1 (3.3)
Equity compensation(0.4)0.5 (0.5)
Impact of intercompany charges and dividends(0.7)2.4 3.6 
Global Intangible Low-Taxed Income1.9 0.8 1.1 
Change in indefinite reinvestment assertion(3)
0.4 11.7 — 
Divestiture of the Mobility Business(5.9)— — 
Other, net1.3 0.3 (0.2)
Effective income tax rate20.7 %35.2 %19.1 %
(1)The Company has been granted tax incentives for various subsidiaries in China, Malaysia, Singapore, Vietnam, Brazil, and Israel, which primarily expire at various dates through fiscal year 2030 and are subject to certain conditions with which the Company expects to comply. These tax incentives resulted in a tax benefit of approximately $54 million ($0.44 per basic weighted average shares outstanding), $74 million ($0.56 per basic weighted average shares outstanding) and $80 million ($0.57 per basic weighted average shares outstanding) during the fiscal years ended August 31, 2024, 2023, and 2022, respectively.
(2)For the fiscal year ended August 31, 2024, the valuation allowance change was primarily due to the change in deferred tax assets for sites with existing valuation allowances and an income tax expense of $27 million for an increase in the U.S. valuation allowance on deferred tax assets previously recognized. This impact was partially offset by a $20 million decrease in deferred tax assets with a corresponding valuation allowance due to a non-U.S. unrecognized tax benefit. For the fiscal year ended August 2022, the valuation allowance change was primarily due to an income tax benefit of $26 million for the reversal of a portion of the U.S. valuation allowance and decreased deferred tax assets with corresponding valuation allowances due to the liquidation of certain non-U.S. subsidiaries.
(3)As a result of certain operations being classified as held for sale, the Company made a change to its indefinite reinvestment assertions for the fiscal year ended August 31, 2023.
Deferred Tax Assets and Liabilities
Significant components of the deferred tax assets and liabilities are summarized below (in millions):
 August 31, 2024
August 31, 2023(1)
Deferred tax assets:
Net operating loss carryforwards$183 $196 
Receivables5 4 
Inventories18 16 
Compensated absences14 16 
Accrued expenses109 116 
Property, plant and equipment2 17 
Domestic tax credits45 22 
Foreign jurisdiction tax credits9 4 
Equity compensation11 8 
Domestic interest carryforwards19 10 
Capital loss carryforwards26 19 
Revenue recognition27 29 
Operating and finance lease liabilities40 39 
Other34 24 
Total deferred tax assets before valuation allowances542 520 
Less valuation allowances(368)(303)
Net deferred tax assets$174 $217 
Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries$83 $201 
Intangible assets29 24 
Operating lease assets81 85 
Other28 16 
Total deferred tax liabilities$221 $326 
Net deferred tax liabilities$(47)$(109)
(1)Excludes $96 million classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Based on the Company’s historical operating income, projection of future taxable income, scheduled reversal of taxable temporary differences, and tax planning strategies, management believes it is more likely than not that the Company will realize the benefit of its deferred tax assets, net of valuation allowances recorded. The Company’s assessment that led to the $27 million change in the U.S. valuation allowance on deferred tax assets previously recognized considered all available positive and negative evidence including, among other evidence, the impact of historical operating results and the impact of projected future taxable income upon application of the incremental cash tax savings approach for Global Intangible Low-Taxed Income.
As of August 31, 2024, the Company intends to indefinitely reinvest the remaining earnings from its foreign subsidiaries for which a deferred tax liability has not already been recorded. The accumulated earnings are the most significant component of the basis difference which is indefinitely reinvested. As of August 31, 2024, the indefinitely reinvested earnings in foreign subsidiaries upon which taxes had not been provided were approximately $0.8 billion. The estimated amount of the unrecognized deferred tax liability on these reinvested earnings was approximately $0.1 billion.
Tax Carryforwards
The amount and expiration dates of income tax net operating loss carryforwards, tax credit carryforwards, and tax capital loss carryforwards, which are available to reduce future taxes, if any, as of August 31, 2024, are as follows (in millions):
Last Fiscal Year of ExpirationAmount
Income tax net operating loss carryforwards:(1)
Domestic - state2044 or indefinite$56 
Foreign2039 or indefinite$592 
Tax credit carryforwards:(1)
Domestic - federal2044$41 
Domestic - state2038 or indefinite$4 
Foreign(2)
2026$9 
Tax capital loss carryforwards:
Domestic - federal2029$100 
(1)Net of unrecognized tax benefits.
(2)Calculated based on the deferral method and includes foreign investment tax credits.
Unrecognized Tax Benefits
Reconciliation of the unrecognized tax benefits is summarized below (in millions):
 Fiscal Year Ended August 31,
 202420232022
Beginning balance$257 $253 $241 
Additions for tax positions of prior years19 1 22 
Reductions for tax positions of prior years(21)(7)(21)
Additions for tax positions related to current year(1)
22 23 36 
Divestiture of businesses(49)— — 
Reductions from lapses in statutes of limitations(2)(8)(3)
Settlements(2)
(58)(5)(12)
Foreign exchange rate adjustment— — (10)
Ending balance$168 $257 $253 
Unrecognized tax benefits that would affect the effective tax rate (if recognized)
$94 $150 $150 
(1)The additions for the fiscal years ended August 31, 2024, 2023 and 2022 are primarily related to taxation of certain intercompany transactions.
(2)Settlements for the fiscal year ended August 31, 2024, primarily relates to the settlement of a U.S. audit.
The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. The Company’s accrued interest and penalties were approximately $17 million and $31 million as of August 31, 2024, and 2023, respectively. The Company recognized a benefit from the net release of interest and penalties of $14 million during the fiscal year ended August 31, 2024. The Company recognized interest and penalties of approximately $3 million and $0 million during the fiscal years ended August 31, 2023, and 2022, respectively.
It is reasonably possible that the August 31, 2024, unrecognized tax benefits could decrease during the next 12 months by $50 million, primarily related to lapses in statutes of limitations associated with intercompany transactions.
The Company is no longer subject to U.S. federal tax examinations for fiscal years before August 31, 2021. In major non-U.S. and state jurisdictions, the Company is no longer subject to income tax examinations for fiscal years before August 31, 2014, and August 31, 2009, respectively.
v3.24.3
Business Acquisitions and Divestitures
 12 Months Ended
Aug. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Acquisitions and Divestitures Business Acquisitions and Divestitures
Acquisitions
On November 1, 2023, the Company completed the acquisition of ProcureAbility Inc. (“ProcureAbility”) for approximately $60 million in cash. ProcureAbility is a procurement services provider specializing in technology-enabled advisory, managed services, digital, staffing, and recruiting solutions.
The acquisition of ProcureAbility was accounted for as a business combination using the acquisition method of accounting. Assets acquired of $87 million, including $40 million in intangible assets and $38 million in goodwill, and liabilities assumed of $26 million were recorded at their estimated fair values as of the acquisition date. The preliminary estimates and measurements are subject to change during the measurement period for assets acquired, liabilities assumed and tax adjustments. The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the DMS segment. The majority of the goodwill is currently not expected to be deductible for income tax purposes. The results of operations were included in the Company’s condensed consolidated financial results beginning on November 1, 2023. Pro forma information has not been provided as the acquisition of ProcureAbility is not deemed to be significant.
On October 1, 2024, the Company completed the acquisition of Mikros Technologies LLC for consideration transferred of $62 million. Mikros Technologies LLC is a leader in the engineering and manufacturing of liquid cooling solutions for thermal management. The final purchase price is subject to adjustment based on conditions within the purchase agreement.
Divestitures
The Company announced on September 26, 2023, that, through its indirect subsidiary, Jabil Circuit (Singapore) Pte. Ltd., a Singapore private limited company (“Singapore Seller”), it agreed to sell the Mobility Business to an affiliate of BYDE for cash consideration of approximately $2.2 billion, subject to certain customary purchase price adjustments.
As of August 31, 2023, the Company determined the Mobility Business met the criteria to be classified as held for sale. Accordingly, the Company presented the assets and liabilities of the Mobility Business as held for sale in the Condensed Consolidated Balance Sheets as of August 31, 2023. Assets and liabilities classified as held for sale had a carrying value less than the estimated fair value less cost to sell and, thus, no adjustment to the carrying value of the disposal group was necessary. Depreciation and amortization expense for long-lived assets was not recorded for the period in which these assets were classified as held for sale. The divestiture did not meet the criteria to be reported as discontinued operations, and the Company continued to report the operating results for the Mobility Business in the Company’s Condensed Consolidated Statement of Operations in the DMS segment until the Closing Date (defined below).
Following is a summary of the carrying amounts of the major classes of assets and liabilities that were classified as held for sale as of August 31, 2023 (in millions):
 August 31, 2023
Assets held for sale:
Accounts receivable, net of allowance for credit losses$96 
Inventories, net of reserve for excess and obsolete inventory559 
Prepaid expenses and other current assets220 
Property, plant and equipment, net of accumulated depreciation724 
Operating lease right-of-use assets112 
Goodwill117 
Deferred income taxes96 
Liabilities held for sale:
Accounts payable$876 
Accrued expenses364 
Non-current operating lease liabilities83 
On December 29, 2023 (the “Closing Date”), the Company completed the sale of the Mobility Business. As a result of the transaction, the Company derecognized net assets of approximately $1.2 billion, and recorded a pre-tax gain of $942 million, subject to certain post-closing adjustments that are still being finalized. In addition, the Company agreed to indemnify BYDE from certain liabilities that may arise post-close that relate to periods prior to the Closing Date. The Company incurred transaction and disposal costs in connection with the sale of approximately $67 million during the fiscal year ended August 31, 2024, which are included in continuing operations in the Company’s Consolidated Statements of Operations.
The Company performs a goodwill impairment analysis on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. In connection with the preparation of the Company’s financial statements for the quarter ended February 29, 2024, the Company completed an impairment analysis for goodwill recorded within the reporting unit impacted by the divestiture of the Mobility Business. The quantitative assessment was used, and the Company determined that the fair value of the impacted reporting unit exceeded the carrying value and that no impairment existed immediately prior to or subsequent to divesting the Mobility Business. The Company allocated goodwill to the disposal group based on the relative fair value of the Mobility Business as compared to the impacted reporting unit.
In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name valued at $51 million acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset. Accordingly, prior to reclassifying the trade name to a finite-lived intangible asset, the Company completed a quantitative assessment for impairment and determined the fair value of the asset exceeded the carrying value. The trade name was assigned a two-year estimated useful life and is being amortized on a straight-line basis as of the Closing Date.
v3.24.3
Fair Value Measurements
 12 Months Ended
Aug. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair Value Measurements on a Recurring Basis
The following table presents the fair value of the Company's financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated (in millions):
Fair Value HierarchyAugust 31, 2024August 31, 2023
Assets:
Cash and cash equivalents:
Cash equivalentsLevel 1
(1)
$303 $— 
Prepaid expenses and other current assets:
Short-term investmentsLevel 127 25 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
11 4 
Derivatives not designated as hedging instruments (Note 11)
Level 2
(2)
25 20 
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
— 9 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
$28 $17 
Derivatives not designated as hedging instruments (Note 11)
Level 2
(2)
22 64 
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
6 1 
Other liabilities:
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
5 — 
(1)Consist of time deposits that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts, including cash flow hedges and net investment hedges are measured on a recurring basis at fair value, based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers.
Fair Value of Financial Instruments
The carrying amounts of cash and cash equivalents, trade accounts receivable, prepaid expenses and other current assets, accounts payable and accrued expenses approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of borrowings under credit facilities and under loans approximates fair value as interest rates on these instruments approximates current market rates.
Notes payable and long-term debt is carried at amortized cost; however, the Company estimates the fair value of notes payable and long-term debt for disclosure purposes. The following table presents the carrying amounts and fair values of the Company's notes payable and long-term debt, by hierarchy level as of the periods indicated (in millions):
August 31, 2024August 31, 2023
Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Notes payable and long-term debt: (Note 7)
3.950% Senior Notes
Level 2
(1)
$498 $487 $497 $468 
3.600% Senior Notes
Level 2
(1)
$497 $468 $496 $448 
3.000% Senior Notes
Level 2
(1)
$594 $529 $593 $502 
1.700% Senior Notes
Level 2
(1)
$499 $476 $498 $452 
4.250% Senior Notes
Level 2
(1)
$496 $495 $495 $478 
5.450% Senior Notes
Level 2
(1)
$296 $306 $296 $297 
(1)The fair value estimates are based upon observable market data.
Refer to Note 10 - “Postretirement and Other Employee Benefits” for disclosure surrounding the fair value of the Company’s pension plan assets.
v3.24.3
Commitments and Contingencies
 12 Months Ended
Aug. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Legal Proceedings
The Company is party to certain lawsuits in the ordinary course of business. The Company does not believe that these proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s financial position, results of operations, or cash flows.
v3.24.3
New Accounting Guidance
 12 Months Ended
Aug. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Guidance New Accounting Guidance
New accounting guidance adopted during the period did not have a material impact to the Company.
Recently issued accounting guidance is not applicable or did not have, or is not expected to have, a material impact to the Company.
v3.24.3
Schedule of Valuation and Qualifying Accounts
 12 Months Ended
Aug. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule of Valuation and Qualifying Accounts
SCHEDULE II
JABIL INC. AND SUBSIDIARIES
SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS
(in millions)
 
Balance at
Beginning
of Period		Additions and
Adjustments
Charged to Costs
and Expenses
Additions/
(Reductions)
Charged
to Other Accounts(1)
Write-offsBalance at
End of Period
Reserve for excess and obsolete inventory:
Fiscal year ended August 31, 2024$58 $40 $— $(35)$63 
Fiscal year ended August 31, 2023$82 $34 $(27)$(31)$58 
Fiscal year ended August 31, 2022$85 $23 $— $(26)$82 
(1)During the fiscal year ended August 31, 2023 the reductions charged to other accounts relates to inventory reserves for excess and obsolete inventory classified as held for sale.

Balance at
Beginning
of Period		Additions
Charged to
Costs and
Expenses		Additions/
(Reductions)
Charged
to Other Accounts		Reductions
Charged to
Costs and
Expenses		Balance at
End of Period
Valuation allowance for deferred taxes:
Fiscal year ended August 31, 2024$303 $96 $3 $(34)$368 
Fiscal year ended August 31, 2023$281 $28 $9 $(15)$303 
Fiscal year ended August 31, 2022$353 $19 $(31)$(60)$281 
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) Attributable to Parent $ 1,388 $ 818 $ 996
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Aug. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.3
Insider Trading Policies and Procedures
 12 Months Ended
Aug. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.24.3
Description of Business and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Aug. 31, 2024
Accounting Policies [Abstract]  
Principles of Consolidation and Basis of Presentation
Principles of Consolidation and Basis of Presentation
The consolidated financial statements include the accounts and operations of the Company, and its wholly owned and majority-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in preparing the consolidated financial statements. The Company has made certain reclassification adjustments to conform prior periods’ Consolidated Financial Statements and Notes to the Consolidated Financial Statements to the current presentation.
Use of Accounting Estimates
Use of Accounting Estimates
Management is required to make estimates and assumptions during the preparation of the consolidated financial statements and accompanying notes in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates and assumptions.
Assets Held for Sale
Assets Held for Sale
The Company classifies assets and related liabilities as held for sale when: (i) management has committed to a plan to sell the net assets, (ii) the net assets are available for immediate sale, (iii) there is an active program to locate a buyer, (iv) the sale and transfer of the net assets is probable within one year, (v) the net assets are being actively marketed for sale at price that is reasonable in relation to its current fair value, and (vi) it is unlikely that significant changes will be made to the plan to sell the net assets. Assets and liabilities held for sale are presented separately on our consolidated balance sheets at the lower of cost or fair value, less costs to sell. Depreciation and amortization expense for long-lived assets are not recorded while these assets are classified as held for sale. For each period that assets are classified as being held for sale, they are tested for recoverability.
Cash and Cash Equivalents
Cash and Cash Equivalents
Cash equivalents consist of investments that are readily convertible to cash with original maturities of 90 days or less.
Accounts Receivable
Accounts Receivable
Accounts receivable consist of trade receivables and other miscellaneous receivables. The Company maintains an allowance for credit losses based on historical losses, the age of past due receivables, credit quality of our customers, current economic conditions, and other factors that may affect our ability to collect from customers. Bad debts are charged to this allowance after all attempts to collect the balance are exhausted. As the financial condition and circumstances of the Company’s customers change, adjustments to the allowance for credit losses are made as necessary.
Contract Balances and Revenue Recognition
Contract Balances
Timing of revenue recognition may differ from the timing of invoicing to customers. The Company records an asset when revenue is recognized prior to invoicing a customer (“contract assets”) while a liability is recognized when a customer provides consideration prior to the Company transferring control of the goods or services (“contract liabilities”). Amounts recognized as contract assets are generally transferred to receivables in the succeeding quarter due to the short-term nature of the manufacturing cycle. Contract assets are classified separately on the Consolidated Balance Sheets and transferred to receivables when right to payment becomes unconditional.
The Company maintains an allowance for credit losses related to contract assets based on historical losses, credit quality of our customers, current economic conditions, and other factors that may affect our ability to collect from our customers.
Revenue Recognition
The Company provides comprehensive electronics design, production and product management services to companies in various industries and end markets. The Company derives substantially all of its revenue from production and product management services (collectively referred to as “manufacturing services”), which encompasses the act of producing tangible products that are built to customer specifications, which are then provided to the customer.
The Company generally enters into manufacturing service contracts with its customers that provide the framework under which business will be conducted and customer purchase orders will be received for specific quantities and with predominantly fixed pricing. As a result, the Company considers its contract with a customer to be the combination of the manufacturing service contract and the purchase order, or any agreements or other similar documents.
The majority of the Company's manufacturing service contracts relate to manufactured products which have no alternative use and for which the Company has an enforceable right to payment for the work completed to date. As a result, revenue is recognized over time when or as the Company transfers control of the promised products or services (known as performance obligations) to its customers. For certain other contracts with customers that do not meet the over time revenue recognition criteria, transfer of control occurs at a point in time which generally occurs upon delivery and transfer of risk and title to the customer.
Most of the Company's contracts have a single performance obligation as the promise to transfer the individual manufactured product or service is capable of being distinct and is distinct within the context of the contract. For the majority of customers, performance obligations are satisfied over time based on the continuous transfer of control as manufacturing services are performed and are generally completed in less than one year.
The Company also derives revenue to a lesser extent from electronic design services to certain customers. Revenue from electronic design services is generally recognized over time as the services are performed.
For the Company’s over time customers, it believes the measure of progress which best depicts the transfer of control is based on costs incurred to date, relative to total estimated cost at completion (i.e., an input method). This method is a faithful depiction of the transfer of goods or services because it results in the recognition of revenue on the basis of the Company's to-date efforts in the satisfaction of a performance obligation relative to the total expected efforts in the satisfaction of the performance obligation. The transaction price of each performance obligation is generally based upon the contractual standalone selling price of the product or service.
Certain contracts with customers include variable consideration, such as periodic cost of materials adjustments, rebates, discounts, or returns. The Company recognizes estimates of this variable consideration that are not expected to result in a significant revenue reversal in the future, primarily based on the most likely level of consideration to be paid to the customer under the specific terms of the underlying programs.
The Company is responsible for procuring certain components from suppliers for the manufacturing of finished goods at the direction of certain customers. If the Company does not obtain control of these components before they are transferred to the customer, the Company accounts for revenue associated with such components on a net basis. Revenue associated with components procured directly from customers is accounted for on a net basis if the components do not constitute a distinct good or service from the customer. As of August 31, 2024, and 2023, the Company had $734 million and $218 million, respectively, of components included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets, related to purchases made to procure components for customers whereby the associated revenue is expected to be accounted for on a net basis once transferred to the customer.
Taxes collected from the Company’s customers and remitted to governmental authorities are presented within the Company’s Consolidated Statements of Operations on a net basis and are excluded from the transaction price. The Company has elected to account for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the goods. Accordingly, the Company records customer payments of shipping and handling costs as a component of net revenue and classifies such costs as a component of cost of revenue.
Inventories
Inventories
Inventories are stated at the lower of cost (on a first in, first out (FIFO) basis) and net realizable value. Inventory is valued based on current and forecasted usage, customer inventory-related contractual obligations and other lower of cost and net realizable value considerations. If actual market conditions or customer product demands are less favorable than those projected, additional valuation adjustments may be necessary.
Fulfillment Costs
Fulfillment Costs    
The Company capitalizes costs incurred to fulfill its contracts that i) relate directly to the contract or anticipated contracts, ii) are expected to generate or enhance the Company’s resources that will be used to satisfy the performance obligation under the contract, and iii) are expected to be recovered through revenue generated from the contract. Capitalized fulfillment costs are amortized to cost of revenue as the Company satisfies the related performance obligations under the contract with approximate lives ranging from 1 year to 3 years. These costs, which are included in prepaid expenses and other current assets and other assets on the Consolidated Balance Sheets, generally represent upfront costs incurred to prepare for manufacturing activities.
The Company assesses the capitalized fulfillment costs for impairment at the end of each reporting period. The Company will recognize an impairment loss to the extent the carrying amount of the capitalized costs exceeds the recoverable amount. Recoverability is assessed by considering the capitalized fulfillment costs in relation to the forecasted profitability of the related manufacturing performance obligations.
Property, Plant and Equipment, net
Property, Plant and Equipment, net
Property, plant and equipment is capitalized at cost and depreciated using the straight-line depreciation method over the estimated useful lives of the respective assets. Estimated useful lives for major classes of depreciable assets are as follows:
Asset ClassEstimated Useful Life
Buildings
Up to 35 years
Leasehold improvementsShorter of lease term or useful life of the improvement
Machinery and equipment
2 to 10 years
Furniture, fixtures and office equipment5 years
Computer hardware and software
3 to 7 years
Transportation equipment3 years
Maintenance and repairs are expensed as incurred. The cost and related accumulated depreciation of assets sold or retired is removed from the accounts and any resulting gain or loss is reflected in the Consolidated Statements of Operations as a component of operating income.
Leases
Leases
The Company primarily has leases for buildings, machinery, and equipment with lease terms ranging from 1 year to 32 years. Leases for other classes of assets are not significant. For any leases with an initial term in excess of 12 months, the Company determines whether an arrangement is a lease at contract inception by evaluating if the contract conveys the right to use and control the specific property or equipment. Certain lease agreements contain purchase or renewal options. These options are included in the lease term when it is reasonably certain that the Company will exercise that option. Generally, the Company’s lease agreements do not contain material restrictive covenants.
Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized based on the present value of future lease payments over the lease term at the lease commencement date. When determining the present value of future payment, the Company uses the incremental borrowing rate when the implicit rate is not readily determinable. Any payment deemed probable under residual value guarantees is included in lease payments. Any variable payments, other than those that depend on an index or rate, are excluded from right-of-use assets and lease liabilities.
Leases with an initial term of 12 months or less are not recorded as right-of-use assets and lease liabilities in the Consolidated Balance Sheets. Lease expense for these leases is recognized on a straight-line basis over the lease term. The Company has elected the practical expedient to combine lease and non-lease components for building and real estate leases.
Certain equipment and buildings held under finance leases are classified as property, plant and equipment and the related obligation is recorded as accrued expenses and other liabilities on the Consolidated Balance Sheets.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The Company accounts for goodwill in a business combination as the excess of the cost over the fair value of net assets acquired and is assigned to the reporting unit in which the acquired business will operate. The Company tests goodwill and indefinite-lived intangible assets for impairment during the fourth quarter of each fiscal year or whenever events or changes in circumstances indicate the carrying amount may not be recoverable.
The recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. The Company may elect to perform a qualitative assessment to determine whether it is more likely than not that a reporting unit is impaired. If the qualitative assessment is not performed or if the Company determines that it is not more likely than not that the fair value of the reporting unit exceeds the carrying value, the Company determines the fair value of its reporting units based on an average weighting of both projected discounted future results and the use of comparative market multiples. If the carrying amount of the reporting unit exceeds its fair value, goodwill is considered impaired and a loss recognized in the amount equal to that excess.
The recoverability of indefinite-lived intangible assets is measured by comparing the carrying amount to the fair value. The Company may elect to perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible is impaired. If the qualitative assessment is not performed or if the Company determines that it is not more likely than not that the fair value of an indefinite-lived intangible exceeds the carrying value, the Company determines the fair value principally based on a variation of the income approach, known as the relief from royalty method. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, the indefinite-lived intangible asset is considered impaired.
Business combinations can also result in other intangible assets being recognized. Finite-lived intangible assets are amortized on either a straight-line or accelerated basis over their estimated useful life and include contractual agreements and customer relationships, tradenames and intellectual property. No significant residual values are estimated for the amortizable intangible assets.
Long-lived Assets
Long-lived Assets
Long-lived assets, such as property, plant, and equipment, and finite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of the asset or asset group is measured by comparing its carrying amount to the undiscounted future net cash flows the asset is expected to generate. If the carrying amount of an asset or asset group is not recoverable, the Company recognizes an impairment loss based on the excess of the carrying amount of the long-lived asset or asset group over its respective fair value, which is generally determined as the present value of estimated future cash flows or as the appraised value.
Derivative Instruments
Derivative Instruments
All derivative instruments are recorded gross on the Consolidated Balance Sheets at their respective fair values. The accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument.
For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative and the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized immediately in current earnings. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative instrument is initially reported as a component of AOCI, net of tax, and is subsequently reclassified into the line item within the Consolidated Statements of Operations in which the hedged items are recorded in the same period in which the hedged item affects earnings. The ineffective and excluded portions of the gain or loss is recognized immediately in current earnings. For derivative instruments that are designated and qualify as a net investment hedge, the effective portion of the gain or loss on the derivative instrument is included in change in foreign currency translation in OCI to offset the change in the carrying value of the net investment being hedged until the complete or substantially complete liquidation of the hedged foreign operation. The ineffective and excluded portions of the gain or loss is recognized immediately in current earnings. For derivative instruments that are not designated as hedging instruments, gains and losses from changes in fair values are recognized immediately in current earnings. Cash receipts and cash payments related to derivative instruments are recorded in the same category as the cash flows from the items being hedged on the Consolidated Statements of Cash Flows.
Foreign Currency Transactions
Foreign Currency Transactions
For the Company’s foreign subsidiaries that use a currency other than the U.S. dollar as their functional currency, the assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at the average exchange rate for the period. The effects of these translation adjustments are reported in accumulated other comprehensive income. Gains and losses arising from transactions denominated in a currency other than the functional currency of the entity involved are included in operating income.
Stock-Based Compensation
Stock-Based Compensation
The Company recognizes stock-based compensation expense, reduced for estimated forfeitures, on a straight-line basis over the requisite service period of the award, which is generally the vesting period for outstanding stock awards.
The stock-based compensation expense for time-based and performance-based restricted stock unit awards (“restricted stock units”) is measured at fair value on the date of grant based on the number of shares expected to vest and the quoted market price of the Company’s common stock. For restricted stock units with performance conditions, stock-based compensation expense is originally based on the number of shares that would vest if the Company achieved 100% of the performance goal, which is the intended outcome at the grant date. Throughout the requisite service period, management monitors the probability of achievement of the performance condition. If it becomes probable, based on the Company’s performance, that more or less than the current estimate of the awarded shares will vest, an adjustment to stock-based compensation expense will be recognized as a change in accounting estimate in the period that such probability changes.
The stock-based compensation expense for market-based restricted stock units is measured at fair value on the date of grant. The market conditions are considered in the grant date fair value using a Monte Carlo valuation model, which utilizes multiple input variables to determine the probability of the Company achieving the specified market conditions. Stock-based compensation expense related to an award with a market condition will be recognized over the requisite service period regardless of whether the market condition is satisfied, provided that the requisite service period has been completed.
The Company currently expects to satisfy share-based awards with registered shares available to be issued.
Income Taxes
Income Taxes
Deferred tax assets (“DTAs”) and liabilities (“DTLs”) are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. DTAs and DTLs are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on DTAs and DTLs of a change in the tax rate is recognized in income in the period that includes the enactment date of the rate change. The Company records a valuation allowance to reduce its DTAs to the amount that is more likely than not to be realized. The Company considers future taxable income and ongoing feasible tax planning strategies in assessing the need for the valuation allowance.
The Company records the effects of the Global Intangible Low-Taxed Income (“GILTI”) as a period cost and applies the incremental cash tax savings approach when analyzing the impact GILTI could have on its U.S. valuation allowance.  The incremental cash tax savings approach considers the realizable benefit of a net operating loss and deferred tax assets by comparing the incremental cash taxes in the calculation of GILTI with and without the net operating loss and other DTAs.
Earnings Per Share
Earnings Per Share
The Company calculates its basic earnings per share by dividing net income attributable to Jabil Inc. by the weighted average number of shares of common stock outstanding during the period. The Company’s diluted earnings per share is calculated in a similar manner but includes the effect of dilutive securities. The difference between the weighted average number of basic shares outstanding and the weighted average number of diluted shares outstanding is primarily due to dilutive unvested restricted stock units.
Potential shares of common stock are excluded from the computation of diluted earnings per share when their effect would be antidilutive. Performance-based restricted stock units are considered dilutive when the related performance criterion have been met assuming the end of the reporting period represents the end of the performance period. Market-based restricted stock units are considered dilutive when the related market criterion have been met assuming the end of the reporting period represents the end of the performance period. All potential shares of common stock are antidilutive in periods of net loss.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
Fair value is categorized in one of three levels based on the lowest level of significant input used. Level 1 – quoted market prices in active markets for identical assets and liabilities; Level 2 – inputs other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – unobservable inputs for the asset or liability.
New Accounting Guidance
New accounting guidance adopted during the period did not have a material impact to the Company.
Recently issued accounting guidance is not applicable or did not have, or is not expected to have, a material impact to the Company.
v3.24.3
Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Aug. 31, 2024
Accounting Policies [Abstract]  
Schedule of Estimated Useful Lives for Major Classes of Depreciable Assets Estimated useful lives for major classes of depreciable assets are as follows:
Asset ClassEstimated Useful Life
Buildings
Up to 35 years
Leasehold improvementsShorter of lease term or useful life of the improvement
Machinery and equipment
2 to 10 years
Furniture, fixtures and office equipment5 years
Computer hardware and software
3 to 7 years
Transportation equipment3 years
Property, plant and equipment consists of the following (in millions):
 August 31, 2024
August 31, 2023(1)
Land and improvements$108 $107 
Buildings1,451 1,281 
Leasehold improvements681 676 
Machinery and equipment4,278 4,362 
Furniture, fixtures and office equipment218 229 
Computer hardware and software824 840 
Transportation equipment7 7 
Construction in progress193 147 
Property, plant and equipment7,760 7,649 
Less accumulated depreciation and amortization4,736 4,512 
Property, plant and equipment, net$3,024 $3,137 
(1)Excludes $724 million of property, plant and equipment, net classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Schedule of Potential Shares of Common Stock not included in the Computation of Earnings Per Share Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):
 Fiscal Year Ended August 31,
 202420232022
Restricted stock units343.6 383.1 209.4 
v3.24.3
Trade Accounts Receivable Sale Programs (Tables)
 12 Months Ended
Aug. 31, 2024
Transfers and Servicing [Abstract]  
Schedule of Trade Accounts Receivable Sale Programs Key Terms
The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):
Program
Maximum
Amount(1)
Type of
Facility		Expiration
Date
A
$350 
Uncommitted
(2)
B
$120 
Uncommitted
(2)
C
1,900 
CNY
Uncommitted
(2)
D
$150 
Uncommitted
May 4, 2028(2)
E
$170 
Uncommitted
(3)
F
$50 
Uncommitted
(3)
G
$100 
Uncommitted
(2)
H
$800 
Uncommitted
(2)
I
$250 
Uncommitted
(2)
J
8,100 
INR
Uncommitted
(2)
K
$100 
Uncommitted
(2)
L
$75 
Uncommitted
January 23, 2025(2)
(1)Maximum amount of trade accounts receivable that may be sold under a facility at any one time.
(2)Any party may elect to terminate the agreement upon 30 days prior notice.
(3)Any party may elect to terminate the agreement upon 15 days prior notice.
Schedule of Trade Accounts Receivable Sale Programs Amounts Recognized
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
Fiscal Year Ended August 31,
202420232022
Trade accounts receivable sold$8,214 $10,784 $8,513 
Cash proceeds received$8,170 $10,748 $8,504 
Pre-tax losses on sale of receivables(1)
$44 $36 $9 
(1)Recorded to other expense within the Consolidated Statements of Operations.
v3.24.3
Inventories (Tables)
 12 Months Ended
Aug. 31, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consist of the following (in millions):
August 31, 2024
August 31, 2023(1)
Raw materials$3,903 $4,804 
Work in process190 217 
Finished goods246 243 
Reserve for excess and obsolete inventory(63)(58)
Inventories, net$4,276 $5,206 
(1)Excludes $559 million of inventories, net classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
v3.24.3
Property, Plant and Equipment (Tables)
 12 Months Ended
Aug. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Components of Property, Plant and Equipment Estimated useful lives for major classes of depreciable assets are as follows:
Asset ClassEstimated Useful Life
Buildings
Up to 35 years
Leasehold improvementsShorter of lease term or useful life of the improvement
Machinery and equipment
2 to 10 years
Furniture, fixtures and office equipment5 years
Computer hardware and software
3 to 7 years
Transportation equipment3 years
Property, plant and equipment consists of the following (in millions):
 August 31, 2024
August 31, 2023(1)
Land and improvements$108 $107 
Buildings1,451 1,281 
Leasehold improvements681 676 
Machinery and equipment4,278 4,362 
Furniture, fixtures and office equipment218 229 
Computer hardware and software824 840 
Transportation equipment7 7 
Construction in progress193 147 
Property, plant and equipment7,760 7,649 
Less accumulated depreciation and amortization4,736 4,512 
Property, plant and equipment, net$3,024 $3,137 
(1)Excludes $724 million of property, plant and equipment, net classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Schedule of Depreciation and Maintenance and Repair Expenses
Depreciation and maintenance and repair expenses were as follows for the periods indicated (in millions):
 Fiscal Year Ended August 31,
 202420232022
Depreciation expense$656 $891 $891 
Maintenance and repair expense$335 $431 $395 
v3.24.3
Leases (Tables)
 12 Months Ended
Aug. 31, 2024
Leases [Abstract]  
Schedule of Lease Assets and Lease Liabilities included on Consolidated Balance Sheets
The following table sets forth the amount of lease assets and lease liabilities included on the Company's Consolidated Balance Sheets, as of the periods indicated (in millions):
Financial Statement Line ItemAugust 31, 2024
August 31, 2023(1)
Assets
Operating lease assetsOperating lease right-of-use assets$360 $367 
Finance lease assets(2)
Property, plant and equipment, net378 310 
Total lease assets$738 $677 
Liabilities
Current
Operating lease liabilitiesCurrent operating lease liabilities$93 $104 
Finance lease liabilitiesAccrued expenses119 74 
Non-current
Operating lease liabilitiesNon-current operating lease liabilities284 269 
Finance lease liabilitiesOther liabilities235 212 
Total lease liabilities$731 $659 
(1)Excludes operating lease and finance lease assets and liabilities classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Net of accumulated amortization of $162 million and $199 million as of August 31, 2024 and 2023, respectively.
Schedule of Expenses related to Leases included on Consolidated Statements of Operations, Lease Term and Discount Rate and Other Supplemental Information related to Lease Portfolio
The following table is a summary of expenses related to leases included on the Company's Consolidated Statements of Operations, for the periods indicated (in millions):
Fiscal Year Ended August 31,
 20242023
Operating lease cost$118 $147 
Finance lease cost
Amortization of leased assets50 89 
Interest on lease liabilities10 9 
Net lease cost(1)(2)
$178 $245 
(1)Lease costs are primarily recognized in cost of revenue.
(2)Excludes immaterial amounts of short term leases, variable lease costs and sublease income.
The following table is a summary of the weighted-average remaining lease terms and weighted-average discount rates of the Company's leases, as of the periods indicated:
August 31, 2024August 31, 2023
Weighted-average remaining lease termWeighted-average discount rateWeighted-average remaining lease termWeighted-average discount rate
Operating leases5.7 years3.80 %5.2 years3.55 %
Finance leases5.2 years4.23 %2.1 years3.84 %
The following table sets forth other supplemental information related to the Company's lease portfolio (in millions):
Fiscal Year Ended August 31,
 20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases(1)
$116 $135 
Operating cash flows for finance leases(1)
$10 $9 
Financing activities for finance leases(2)
$111 $157 
Non-cash right-of-use assets obtained in exchange for lease liabilities:
Operating leases$109 $110 
Finance leases$163 $131 
(1)Included in accounts payable, accrued expenses and other liabilities in Operating Activities of the Company's Consolidated Statements of Cash Flows.
(2)Included in payments toward debt agreements in Financing Activities of the Company's Consolidated Statements of Cash Flows.
Schedule of Future Minimum Lease Payments Under Operating Leases
The following table sets forth a maturity analysis of operating and finance lease liabilities as of August 31, 2024 (in millions):
Fiscal Year Ended August 31,
Operating Leases(1)
Finance Leases(1)(2)(3)
Total
2025
$106 $129 $235 
2026
83 124 207 
2027
61 23 84 
2028
48 18 66 
2029
41 13 54 
Thereafter86 91 177 
Total lease payments$425 $398 $823 
Less: Imputed interest(48)(44)(92)
Present value of lease liabilities$377 $354 $731 
(1)Excludes $25 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.
(2)Includes a $94 million lease liability related to a lease with a variable interest entity (“VIE”), for which the Company is not the primary beneficiary. The Company’s maximum exposure to loss related to the VIE is $124 million.
(3)Excludes $274 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.
Schedule of Future Minimum Lease Payments Under Finance Leases
The following table sets forth a maturity analysis of operating and finance lease liabilities as of August 31, 2024 (in millions):
Fiscal Year Ended August 31,
Operating Leases(1)
Finance Leases(1)(2)(3)
Total
2025
$106 $129 $235 
2026
83 124 207 
2027
61 23 84 
2028
48 18 66 
2029
41 13 54 
Thereafter86 91 177 
Total lease payments$425 $398 $823 
Less: Imputed interest(48)(44)(92)
Present value of lease liabilities$377 $354 $731 
(1)Excludes $25 million of payments related to leases signed but not yet commenced. Additionally, certain leases signed but not yet commenced contain residual value guarantees and purchase options not deemed probable.
(2)Includes a $94 million lease liability related to a lease with a variable interest entity (“VIE”), for which the Company is not the primary beneficiary. The Company’s maximum exposure to loss related to the VIE is $124 million.
(3)Excludes $274 million of residual value guarantees that could potentially come due in future periods. The Company does not believe it is probable that any amounts will be owed under these guarantees. Therefore, no amounts related to the residual value guarantees are included in the lease payments used to measure the right-of-use assets and lease liabilities.
v3.24.3
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill Allocated to Reportable Segments and Gross Goodwill Balances and Accumulated Impairments
The following table presents the changes in goodwill allocated to the Company’s reportable segments, Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”), during the fiscal years ended August 31, 2024 and 2023 (in millions):
EMSDMSTotal
Balance as of August 31, 2022
$79 $625 $704 
Acquisitions and adjustments— 24 24 
Change in foreign currency exchange rates1 9 10 
Goodwill classified as held for sale— (117)(117)
Balance as of August 31, 2023
80 541 621 
Acquisitions and adjustments— 34 34 
Change in foreign currency exchange rates— 6 6 
Balance as of August 31, 2024
$80 $581 $661 
The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in millions):
 August 31, 2024August 31, 2023
Gross
Carrying
Amount		Accumulated
Impairment
Gross
Carrying
Amount(1)
Accumulated
Impairment
Goodwill$1,681 $1,020 $1,641 $1,020 
(1)Excludes $117 million of goodwill classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Schedule of Indefinite-Lived Intangible Assets
The following table presents the Company’s total purchased intangible assets as of August 31, 2024, and 2023 (in millions):
 Weighted
Average
Amortization
Period
(in years)		August 31, 2024August 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Contractual agreements and customer relationships
12$361 $(270)$91 $320 $(251)$69 
Intellectual property9198 (181)17 198 (177)21 
Finite-lived trade names(1)
2130 (95)35 79 (78)1 
Trade names(1)
Indefinite— — — 51 — 51 
Total intangible assets10$689 $(546)$143 $648 $(506)$142 
(1)In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Schedule of Finite-Lived Intangible Assets
The following table presents the Company’s total purchased intangible assets as of August 31, 2024, and 2023 (in millions):
 Weighted
Average
Amortization
Period
(in years)		August 31, 2024August 31, 2023
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Contractual agreements and customer relationships
12$361 $(270)$91 $320 $(251)$69 
Intellectual property9198 (181)17 198 (177)21 
Finite-lived trade names(1)
2130 (95)35 79 (78)1 
Trade names(1)
Indefinite— — — 51 — 51 
Total intangible assets10$689 $(546)$143 $648 $(506)$142 
(1)In the second quarter of fiscal year 2024 and in connection with the divestiture of the Mobility Business, the Company made a strategic decision that the indefinite-lived (“Green Point”) trade name acquired during the acquisition of Green Point should no longer be classified as an indefinite-lived intangible asset. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Schedule of Estimated Future Amortization Expense The estimated future amortization expense is as follows (in millions):
Fiscal Year Ended August 31,
2025
$47 
2026
27 
2027
18 
2028
16 
2029
9 
Thereafter26 
Total$143 
v3.24.3
Notes Payable and Long-Term Debt (Tables)
 12 Months Ended
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 DateAugust 31, 2024August 31, 2023
3.950% Senior Notes(1)(2)
Jan 12, 2028$498 $497 
3.600% Senior Notes(1)(2)
Jan 15, 2030497 496 
3.000% Senior Notes(1)(2)
Jan 15, 2031594 593 
1.700% Senior Notes(1)(2)
Apr 15, 2026499 498 
4.250% Senior Notes(1)(2)
May 15, 2027496 495 
5.450% Senior Notes(1)(2)(3)
Feb 1, 2029296 296 
Borrowings under credit facilities(4)(5)
Jan 22, 2026 and Jan 22, 2028— — 
Borrowings under loansJul 31, 2026— — 
Total notes payable and long-term debt2,880 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 
Thereafter1,091 
Total$2,880 
v3.24.3
Asset-Backed Securitization Programs (Tables)
 12 Months Ended
Aug. 31, 2024
Transfers and Servicing [Abstract]  
Schedule of Asset-Backed Securitization Programs Amount Recognized
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
Fiscal Year Ended August 31,
202420232022
Trade accounts receivable sold$4,000 $4,101 $3,932 
Cash proceeds received(1)
$3,953 $4,061 $3,919 
Pre-tax losses on sale of receivables(2)
$47 $40 $13 
(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2)Recorded to other expense within the Consolidated Statements of Operations.
v3.24.3
Accrued Expenses (Tables)
 12 Months Ended
Aug. 31, 2024
Accrued Liabilities, Current [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consist of the following (in millions):
August 31, 2024
August 31, 2023(1)
Inventory deposits$1,582 $1,839 
Contract liabilities(2)
1,017 886 
Accrued compensation and employee benefits699 743 
Other accrued expenses2,201 2,047 
Accrued expenses$5,499 $5,515 
(1)Excludes $364 million of accrued expenses classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Revenue recognized during the fiscal years ended August 31, 2024 and 2023 that was included in the contract liability balance as of August 31, 2023, and 2022 was $507 million and $539 million, respectively.
v3.24.3
Postretirement and Other Employee Benefits (Tables)
 12 Months Ended
Aug. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Reconciliation of Change in Benefit Obligations for Plans
The projected benefit obligations (“PBO”) and plan assets, changes to the PBO and plan assets and the funded status of the plans as of and for the fiscal years ended August 31 are as follows (in millions):
 Fiscal Year Ended August 31,
 20242023
Change in PBO
Beginning PBO$461 $432 
Service cost21 18 
Interest cost12 12 
Actuarial loss (gain)
32 (23)
Settlements paid from plan assets(1)
(43)(27)
Total benefits paid(10)(16)
Plan participants’ contributions13 22 
Plan amendments11 — 
Effect of conversion to U.S. dollars16 43 
Ending PBO$513 $461 
Change in plan assets
Beginning fair value of plan assets486 459 
Actual return on plan assets41 (16)
Settlements paid from plan assets(1)
(43)(27)
Employer contributions17 18 
Benefits paid from plan assets(10)(15)
Plan participants’ contributions13 22 
Effect of conversion to U.S. dollars20 45 
Ending fair value of plan assets$524 $486 
Funded status$11 $25 
Amounts recognized in the Consolidated Balance Sheets
Accrued benefit liability, current$2 $1 
Accrued benefit asset, noncurrent$13 $26 
Accumulated other comprehensive loss(2)
Actuarial gain, before tax
$(54)$(71)
Prior service cost, before tax
$23 $16 
(1)The settlements recognized during fiscal years 2024 and 2023 relate primarily to the Switzerland plan.
(2)The Company anticipates amortizing $2 million and $5 million, before tax, of net actuarial gain and prior service cost balances, respectively, to net periodic cost in fiscal year 2025.
Schedule of Reconciliation of Changes in Pension Plan Assets
The projected benefit obligations (“PBO”) and plan assets, changes to the PBO and plan assets and the funded status of the plans as of and for the fiscal years ended August 31 are as follows (in millions):
 Fiscal Year Ended August 31,
 20242023
Change in PBO
Beginning PBO$461 $432 
Service cost21 18 
Interest cost12 12 
Actuarial loss (gain)
32 (23)
Settlements paid from plan assets(1)
(43)(27)
Total benefits paid(10)(16)
Plan participants’ contributions13 22 
Plan amendments11 — 
Effect of conversion to U.S. dollars16 43 
Ending PBO$513 $461 
Change in plan assets
Beginning fair value of plan assets486 459 
Actual return on plan assets41 (16)
Settlements paid from plan assets(1)
(43)(27)
Employer contributions17 18 
Benefits paid from plan assets(10)(15)
Plan participants’ contributions13 22 
Effect of conversion to U.S. dollars20 45 
Ending fair value of plan assets$524 $486 
Funded status$11 $25 
Amounts recognized in the Consolidated Balance Sheets
Accrued benefit liability, current$2 $1 
Accrued benefit asset, noncurrent$13 $26 
Accumulated other comprehensive loss(2)
Actuarial gain, before tax
$(54)$(71)
Prior service cost, before tax
$23 $16 
(1)The settlements recognized during fiscal years 2024 and 2023 relate primarily to the Switzerland plan.
(2)The Company anticipates amortizing $2 million and $5 million, before tax, of net actuarial gain and prior service cost balances, respectively, to net periodic cost in fiscal year 2025.
Schedule of Amounts Recognized in Balance Sheet
The projected benefit obligations (“PBO”) and plan assets, changes to the PBO and plan assets and the funded status of the plans as of and for the fiscal years ended August 31 are as follows (in millions):
 Fiscal Year Ended August 31,
 20242023
Change in PBO
Beginning PBO$461 $432 
Service cost21 18 
Interest cost12 12 
Actuarial loss (gain)
32 (23)
Settlements paid from plan assets(1)
(43)(27)
Total benefits paid(10)(16)
Plan participants’ contributions13 22 
Plan amendments11 — 
Effect of conversion to U.S. dollars16 43 
Ending PBO$513 $461 
Change in plan assets
Beginning fair value of plan assets486 459 
Actual return on plan assets41 (16)
Settlements paid from plan assets(1)
(43)(27)
Employer contributions17 18 
Benefits paid from plan assets(10)(15)
Plan participants’ contributions13 22 
Effect of conversion to U.S. dollars20 45 
Ending fair value of plan assets$524 $486 
Funded status$11 $25 
Amounts recognized in the Consolidated Balance Sheets
Accrued benefit liability, current$2 $1 
Accrued benefit asset, noncurrent$13 $26 
Accumulated other comprehensive loss(2)
Actuarial gain, before tax
$(54)$(71)
Prior service cost, before tax
$23 $16 
(1)The settlements recognized during fiscal years 2024 and 2023 relate primarily to the Switzerland plan.
(2)The Company anticipates amortizing $2 million and $5 million, before tax, of net actuarial gain and prior service cost balances, respectively, to net periodic cost in fiscal year 2025.
Schedule of Accumulated Benefit Obligations
The following table summarizes the total accumulated benefit obligations (“ABO”), the ABO and fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the PBO and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets for fiscal years 2024 and 2023 (in millions):
 August 31, 2024August 31, 2023
ABO$495 $441 
Plans with ABO in excess of plan assets
ABO$41 $41 
Fair value of plan assets$14 $15 
Plans with PBO in excess of plan assets
PBO$50 $52 
Fair value of plan assets$14 $15 
Schedule of Information About Net Periodic Benefit Cost for Plans
The following table provides information about the net periodic benefit cost for the plans for fiscal years 2024, 2023 and 2022 (in millions):
 Fiscal Year Ended August 31,
 202420232022
Service cost(1)
$21 $18 $25 
Interest cost(2)
12 12 4 
Expected long-term return on plan assets(2)
(17)(17)(17)
Recognized actuarial gain(2)
(7)(7)(6)
Amortization of actuarial gains(2)(3)
(3)(7)(8)
Net settlement loss(2)
— — 1 
Amortization of prior service costs(2)
5 4 4 
Net periodic benefit cost
$11 $3 $3 
(1)Service cost is recognized in cost of revenue in the Consolidated Statements of Operations.
(2)Components are recognized in other expense in the Consolidated Statements of Operations.
(3)Actuarial gains and losses are amortized using a corridor approach. The gain/loss corridor is equal to 10 percent of the greater of the projected benefit obligation and the fair value of plan assets. Gains and losses in excess of the corridor are generally amortized over the average future working lifetime of the plan participants.
Schedule of Weighted-Average Actuarial Assumptions
Weighted-average actuarial assumptions used to determine net periodic benefit cost and PBO for the plans for the fiscal years 2024, 2023, and 2022 were as follows:
 Fiscal Year Ended August 31,
 202420232022
Net periodic benefit cost:
       Expected long-term return on plan assets(1)
3.7 %3.6 %3.0 %
Rate of compensation increase1.9 %2.1 %2.2 %
Discount rate2.8 %2.6 %0.7 %
PBO:
Expected long-term return on plan assets3.7 %3.7 %3.6 %
Rate of compensation increase1.8 %1.9 %2.1 %
       Discount rate(2)
2.1 %2.8 %2.6 %
(1)The expected return on plan assets assumption used in calculating net periodic benefit cost is based on historical return experience and estimates of future long-term performance with consideration to the expected investment mix of the plan.
(2)The discount rate is used to state expected cash flows relating to future benefits at a present value on the measurement date. This rate represents the market rate for high-quality fixed income investments whose timing would match the cash outflow of retirement benefits. Other assumptions include demographic factors such as retirement, mortality and turnover.
Schedule of Fair Values of Plan Assets by Asset Category
The fair values of the plan assets held by the Company by asset category are as follows (in millions):
  August 31, 2024August 31, 2023
 Fair Value
Hierarchy		Fair ValueAsset
Allocation		Fair ValueAsset
Allocation
Asset Category
Cash and cash equivalents(1)
Level 1$12 2 %$17 3 %
Equity Securities:
Global equity securities(2)(3)
Level 2235 45 %213 44 %
Debt Securities:
Corporate bonds(3)
Level 2223 43 %216 45 %
Government bonds(3)
Level 243 8 %30 6 %
Other Investments:
Insurance contracts(4)
Level 311 2 %10 2 %
Fair value of plan assets
$524 100 %$486 100 %
 
(1)Carrying value approximates fair value.
(2)Investments in equity securities by companies incorporated, listed or domiciled in developed and/or emerging market countries.
(3)Investments in global equity securities, corporate bonds, government securities and government bonds are valued using the quoted prices of securities with similar characteristics.
(4)Consist of an insurance contract that guarantees the payment of the funded pension entitlements, as well as provides a profit share to the Company. The profit share in this contract is not based on actual investments, but, instead on a notional investment portfolio that is expected to return a pre-defined rate. Insurance contract assets are recorded at fair value and is determined based on the cash surrender value of the insured benefits which is the present value of the guaranteed funded benefits. Insurance contracts are valued using unobservable inputs (Level 3 inputs), primarily by discounting expected future cash flows relating to benefits paid from a notional investment portfolio in order to determine the cash surrender value of the policy. The unobservable inputs consist of estimated future benefits to be paid throughout the duration of the policy and estimated discount rates, which both have an immaterial impact on the fair value estimate of the contract.
Schedule of Estimated Future Benefit Payments
The Company expects to make cash contributions between $26 million and $31 million to its funded pension plans during fiscal year 2025. The estimated future benefit payments, which reflect expected future service, are as follows (in millions):
Fiscal Year Ended August 31,Amount
2025
$28 
2026
$26 
2027
$30 
2028
$30 
2029
$30 
2030 through 2034
$162 
v3.24.3
Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Maturity Date and Aggregate Notional Amount Outstanding of Net Investment Hedges The maturity dates and aggregate notional amount of these outstanding contracts are as follows (in millions):
Maturity dateAugust 31, 2024August 31, 2023
September 2023$— $34 
October 2023— 96 
January 2024— 96 
April 2024— 68 
July 2024— 102 
October 2024140 — 
January 2025106 — 
July 202555 — 
January 2026106 — 
Total$407 $396 
Derivative Instruments, Gain (Loss)
The following table sets forth the gains and losses of the Company's derivative instruments designated as cash flow hedges and net investment hedges in OCI, and not designated as hedging instruments in the Consolidated Statements of Operations for the periods presented (in millions):
Fiscal Year Ended August 31,
Financial Statement Line Item202420232022
Derivative instruments designated as cash flow hedges:
(Losses) gains recognized in OCI(1)
$(21)$(25)$1 
Losses (gains) reclassified from AOCI into earnings(1)(2)
Forward foreign exchange contractsCost of revenue$22 $44 $30 
Interest rate contractsInterest expense, net$(3)$(2)$2 
Derivative instruments designated as net investment hedges:
Losses recognized in OCI(1)
$(16)$(4)$— 
Gains reclassified from AOCI into earnings(1)
Gain from the divestiture of businesses$(4)$— $— 
Derivative instruments not designated as hedging instruments:
Gains (losses) recognized in earnings from forward foreign exchange contractsCost of revenue$16 $(111)$(71)
(Losses) gains recognized in earnings from changes in foreign currencyCost of revenue$(52)$58 $87 
(1)Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2024, 2023, and 2022.
(2)The Company expects to reclassify $8 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.
v3.24.3
Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Aug. 31, 2024
Equity [Abstract]  
Schedule of Changes in AOCI
The following table sets forth the changes in AOCI, net of tax, by component during the fiscal year ended August 31, 2024 (in millions):
Foreign Currency
Translation Adjustment		Net Investment HedgesDerivative
Instruments		Actuarial Gain (Loss)Prior Service (Cost) CreditTotal
Balance as of August 31, 2023
$(59)$(4)$14 $46 $(14)$(17)
Other comprehensive income (loss) before reclassifications17 (16)

(21)(9)(9)(38)
Amounts reclassified from AOCI(2)(4)

19 (8)

4 9 
Other comprehensive income (loss)(1)
15 (20)(2)(17)(5)(29)
Balance as of August 31, 2024
$(44)$(24)$12 $29 $(19)$(46)
(1)Amounts are net of tax, which are immaterial.
Schedule of Reclassification from AOCI
The following table sets forth the amounts reclassified from AOCI into the Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):
Fiscal Year Ended August 31,(1)
Comprehensive Income ComponentsFinancial Statement Line Item202420232022
Realized gains on foreign currency translationGain from the divestiture of businesses$(2)$— $— 
Realized (gains) losses on pension and postretirement plans:
Actuarial gains
(2)
(8)(14)(14)
Prior service costs
(2)
4 4 4 
(1)Amounts are net of tax, which are immaterial for the fiscal years ended August 31, 2024, 2023 and 2022.
(2)Amounts are included in the computation of net periodic benefit cost. Refer to Note 10 – “Postretirement and Other Employee Benefits” for additional information.
v3.24.3
Stockholders' Equity (Tables)
 12 Months Ended
Aug. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-Based Compensation
The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):
 Fiscal Year Ended August 31,
 202420232022
Restricted stock units(1)
$70 $81 $67 
Employee stock purchase plan19 14 14 
Total$89 $95 $81 
(1)During the fiscal year ended August 31, 2024, the Company recorded a $13 million reversal to stock-based compensation expense primarily due to forfeitures of time-based, performance-based and market-based restricted stock awards.
Schedule of Shares Available for Issuance
Following is a reconciliation of the shares available to be issued under the 2021 EIP as of August 31, 2024:
 Shares Available for Grant
Balance as of August 31, 2023
8,463,733 
Restricted stock units granted, net of forfeitures(1)
(425,401)
Balance as of August 31, 2024
8,038,332 
 
(1)Represents the maximum number of shares that can be issued based on the achievement of certain performance criteria.
Schedule of Restricted Stock Activity
The following table summarizes restricted stock units activity from August 31, 2023 through August 31, 2024:
SharesWeighted-Average
Grant-Date
Fair Value
Outstanding as of August 31, 2023
3,908,753 $58.70 
Changes during the period
Shares granted(1)
809,015 $144.79 
Shares vested(1,802,380)$46.99 
Shares forfeited(383,614)$97.60 
Outstanding as of August 31, 2024
2,531,774 $91.51 
(1)For those shares granted that are based on the achievement of certain performance criteria, the amount represents the maximum number of shares that can vest. During the fiscal year ended August 31, 2024, the Company awarded approximately 0.5 million time-based restricted stock units, 0.1 million performance-based restricted stock units and 0.1 million market-based restricted stock units based on target performance criteria.
Schedule of Share-based Compensation Information
The following table represents the restricted stock units stock-based compensation information for the periods indicated (in millions):
 Fiscal Year Ended August 31,
 202420232022
Fair value of restricted stock units vested$85 $93 $72 
Tax benefit for stock compensation expense(1)
$3 $2 $2 
Unrecognized stock-based compensation expense — restricted stock units$47 
Remaining weighted-average period for restricted stock units expense1.4 years
 
(1)Classified as income tax expense within the Consolidated Statements of Operations.
Schedule of Weighted Average Assumptions Used in Black-Scholes Option Pricing Model
The fair value of shares issued under the ESPP was estimated on the commencement date of each offering period using the Black-Scholes option pricing model. The following weighted-average assumptions were used in the model for each respective period:
 Fiscal Year Ended August 31,
 202420232022
Expected dividend yield0.1 %0.3 %0.3 %
Risk-free interest rate5.4 %3.4 %0.1 %
Expected volatility(1)
34.1 %37.4 %29.6 %
Expected life0.5 years0.5 years0.5 years
(1)The expected volatility was estimated using the historical volatility derived from the Company’s common stock.
Schedule of Cash Dividends Declared to Common Stockholders
The following table sets forth certain information relating to the Company’s cash dividends declared to common stockholders during fiscal years 2024 and 2023:
(in millions, except for per share data)Dividend
Declaration Date		Dividend
per Share		Total of Cash
Dividends
Declared		Date of Record for
Dividend Payment		Dividend Cash
Payment Date
Fiscal Year 2024
October 19, 2023$0.08 $11 November 15, 2023December 4, 2023
January 25, 2024$0.08 $10 February 15, 2024March 4, 2024
April 17, 2024$0.08 $9 May 15, 2024June 4, 2024
July 18, 2024$0.08 $10 August 15, 2024September 4, 2024
Fiscal Year 2023
October 20, 2022$0.08 $12 November 15, 2022December 2, 2022
January 26, 2023$0.08 $10 February 15, 2023March 2, 2023
April 20, 2023$0.08 $11 May 15, 2023June 2, 2023
July 20, 2023$0.08 $11 August 15, 2023September 5, 2023
Schedule of Common Stock Outstanding
The following represents the common stock outstanding for the fiscal year ended:
Fiscal Year Ended August 31,
202420232022
Common stock outstanding:
Beginning balances
131,294,422 135,493,980 144,496,077 
Shares issued under employee stock purchase plan
628,960 1,043,294 970,480 
Vesting of restricted stock
1,802,380 2,014,802 2,503,143 
Purchases of treasury stock under employee stock plans
(537,318)(571,606)(713,667)
Treasury shares purchased(19,444,277)(6,686,048)(11,762,053)
Ending balances
113,744,167 131,294,422 135,493,980 
Schedule of Repurchase of Common Stock under Share Repurchase Program and Common Stock Repurchased through Open Market
The Company repurchases shares of its common stock under share repurchase programs authorized by the Company’s Board of Directors. The following Board approved share repurchase programs were executed through a combination of open market transactions and accelerated share repurchase (“ASR”) agreements (in millions):
Board Approval DateAmount AuthorizedShares RepurchasedTotal Cash UtilizedRemaining AuthorizationAuthorization Completion Date
2022 Share Repurchase ProgramQ4 FY 2021$1,000 16.5$1,000 $— Q2 FY 2023
2023 Share Repurchase ProgramQ1 FY 2023$1,000 2.7$224 
(1)
Q4 FY 2023
Amended 2023 Share Repurchase ProgramQ1 FY 2024$2,500 20.4$2,500 $— Q1 FY 2025
2025 Share Repurchase Program(2)
Q1 FY 2025$1,000 0.7$84 $916 
(1)In September 2023, the Board of Directors amended and increased the 2023 Share Repurchase Program to allow for the repurchase of up to $2.5 billion of the Company’s common stock.
(2)As of October 21, 2024, 0.7 million shares had been repurchased for $84 million and $916 million remains available under the 2025 Share Repurchase Program.
In addition, the Company repurchased shares of its common stock through the open market as follows (in millions):
Fiscal Year Ended August 31,
202420232022
SharesCostSharesCostSharesCost
Open market share repurchases11.3$1,445 6.7$487 11.8$696 
Schedule of Accelerated Share Repurchases Agreement
The terms of ASR agreements, structured as outlined above, were as follows (in millions, except average price):
Agreement Execution DateAgreement Settlement DateAgreement AmountInitial Shares DeliveredAdditional Shares DeliveredTotal Shares DeliveredAverage Price Paid Per Share
Q1 FY 2024Q1 FY 2024$500 3.30.63.9$128.61 
Q4 FY 2024Q1 FY 2025$555 4.21.05.2$107.08 
v3.24.3
Concentration of Risk and Segment Data (Tables)
 12 Months Ended
Aug. 31, 2024
Segment Reporting [Abstract]  
Schedule of Sales to Customers Who Accounted for 10 Percent or More of Net Revenues, Expressed as Percentage of Consolidated Net Revenue and Accounts Receivable for Each Customer Sales to the following customer accounted for 10% or more of the Company’s net revenues, expressed as a percentage of consolidated net revenue:
 Percentage of Net Revenue
Fiscal Year Ended August 31,
 202420232022
Apple, Inc.(1)
11 %17 %19 %
(1)Sales to this customer were reported in the DMS operating segment.
Schedule of Revenues Disaggregated by Segment
The following table presents the Company’s revenues disaggregated by segment (in millions):
Fiscal Year Ended August 31,
202420232022
EMSDMSTotalEMSDMSTotalEMSDMSTotal
Timing of transfer
Point in time$4,502 $3,908 $8,410 $5,094 $6,453 $11,547 $6,112 $6,818 $12,930 
Over time9,303 11,170 20,473 11,655 11,500 23,155 10,625 9,923 20,548 
Total$13,805 $15,078 $28,883 $16,749 $17,953 $34,702 $16,737 $16,741 $33,478 
Schedule of Segment Income and Reconciliation of Income Before Income Tax
The following tables set forth operating segment information (in millions):
 Fiscal Year Ended August 31,
 202420232022
Segment income and reconciliation of income before income tax
EMS$719 $837 $727 
DMS869 896 816 
Total segment income$1,588 $1,733 $1,543 
Reconciling items:
Amortization of intangibles(40)(33)(34)
Stock-based compensation expense and related charges(89)(95)(81)
Restructuring, severance and related charges(1)
(296)(57)(18)
Business interruption and impairment charges, net(2)
(16)— — 
Gain from the divestiture of businesses(3)
942 — — 
Acquisition and divestiture related charges(3)
(70)— — 
Loss on debt extinguishment— — (4)
Other expense (net of periodic benefit cost)(95)(80)(29)
Interest expense, net(173)(206)(146)
Income before income tax$1,751 $1,262 $1,231 
(1)Charges recorded during the fiscal year ended August 31, 2024, related to the 2024 Restructuring Plan. Charges recorded during the fiscal year ended August 31, 2023, related to headcount reduction to further optimize the Company’s business activities.
(2)Charges recorded during the fiscal year August 31, 2024, related to costs associated with product quality liabilities, which is classified as a component of cost of revenue and selling, general and administrative expenses in the Consolidated Statements of Operations.
(3)The Company completed the divestiture of its Mobility Business and recorded a pre-tax gain of $942 million, subject to certain post-closing adjustments that are still being finalized. The Company incurred $70 million of acquisition and
divestiture related charges during the fiscal year ended August 31, 2024, primarily related to the divestiture of its Mobility Business.
Schedule of Segment Assets
August 31, 2024August 31, 2023
Total assets:
EMS$4,384 $4,859 
DMS6,387 6,802 
Assets held for sale(1)
— 1,929 
Other non-allocated assets6,580 5,834 
Total$17,351 $19,424 
(1)Assets held for sale as of August 31, 2023 were reported in the DMS operating segment.
Schedule of Revenue from External Customers by Geographic Areas The following tables set forth net revenue and long-lived asset information where individual countries accounted for 10% or more of the total, for the periods indicated (in millions):
 At and For the Fiscal Year Ended August 31,
 202420232022
Net RevenueLong-Lived AssetsNet RevenueLong-Lived AssetsNet RevenueLong-Lived Assets
Mexico
$5,872 $647 $6,083 $670 $5,630 $594 
China(1)
4,810 736 5,868 865 5,272 1,956 
Singapore(2)
4,486 *7,385 *7,916 *
Malaysia*352 ****
Other
8,668 1,074 10,431 1,338 9,271 1,272 
Total Foreign23,836 2,809 29,767 2,873 28,089 3,822 
U.S.
5,047 575 4,935 631 5,389 632 
Total$28,883 $3,384 $34,702 $3,504 $33,478 $4,454 
*  Amount was less than 10% of total.
(1)Excludes long-lived assets of $836 million classified as held for sale as of August 31, 2023. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
(2)Decrease in net revenue for the fiscal year ended August 31, 2024, is driven by the divestiture of the Mobility Business. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
v3.24.3
Restructuring, Severance and Related Charges (Tables)
 12 Months Ended
Aug. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring, Severance and Related Charges and Liability Activity
Following is a summary of the Company’s restructuring, severance and related charges (in millions):
 Fiscal Year Ended August 31,
 
2024(1)
2023(2)
2022(2)
Employee severance and benefit costs$177 $48 $18 
Lease costs2 — — 
Asset write-off costs79 5 — 
Other costs38 4 — 
Total restructuring, severance and related charges(3)
$296 $57 $18 
(1)Primarily relates to the 2024 Restructuring Plan.
(2)Primarily relates to headcount reduction to further optimize the Company's business activities.
(3)Includes $76 million, $10 million and $1 million recorded in the EMS segment, $152 million, $35 million and $10 million recorded in the DMS segment and $68 million, $12 million and $7 million of non-allocated charges for the fiscal years ended August 31, 2024, 2023 and 2022, respectively. Except for asset write-off costs, all restructuring, severance and related charges are cash costs.
The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):
Employee 
Severance
and Benefit Costs		Lease CostsAsset Write-off CostsOther Related CostsTotal
Balance as of August 31, 2023
$— $— $— $— $— 
Restructuring related charges177 2 79 38 296 
Asset write-off charge and other non-cash activity4 — (79)(16)(91)
Cash payments(115)(1)— (17)(133)
Balance as of August 31, 2024
$66 $1 $— $5 $72 
v3.24.3
Income Taxes (Tables)
 12 Months Ended
Aug. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Tax Expense
Income (loss) before income tax expense is summarized below (in millions):
 Fiscal Year Ended August 31,
 202420232022
Domestic$(366)$(315)$(116)
Foreign2,117 1,577 1,347 
Total$1,751 $1,262 $1,231 
Schedule of Income Tax Expense (Benefit)
Income tax expense (benefit) is summarized below (in millions):
 Fiscal Year Ended August 31,
 202420232022
Current:
Domestic - federal$— $1 $7 
Domestic - state5 2 2 
Foreign442 350 239 
Total current447 353 248 
Deferred:
Domestic - federal12 (2)(25)
Domestic - state(2)4 — 
Foreign
(94)89 12 
Total deferred(84)91 (13)
Total income tax expense$363 $444 $235 
Schedule of Reconciliations of Income Tax Expense at U.S. Federal Statutory Income Tax Rate
Reconciliation of the U.S. federal statutory income tax rate to the Company’s effective income tax rate is summarized below:
 Fiscal Year Ended August 31,
 202420232022
U.S. federal statutory income tax rate21.0 %21.0 %21.0 %
State income taxes, net of federal tax benefit(0.3)0.2 0.7 
Impact of foreign tax rates(1)
0.1 (1.8)(4.0)
Permanent differences0.5 (0.5)1.2 
Income tax credits(1)
(0.7)(0.5)(0.5)
Valuation allowance(2)
3.5 1.1 (3.3)
Equity compensation(0.4)0.5 (0.5)
Impact of intercompany charges and dividends(0.7)2.4 3.6 
Global Intangible Low-Taxed Income1.9 0.8 1.1 
Change in indefinite reinvestment assertion(3)
0.4 11.7 — 
Divestiture of the Mobility Business(5.9)— — 
Other, net1.3 0.3 (0.2)
Effective income tax rate20.7 %35.2 %19.1 %
(1)The Company has been granted tax incentives for various subsidiaries in China, Malaysia, Singapore, Vietnam, Brazil, and Israel, which primarily expire at various dates through fiscal year 2030 and are subject to certain conditions with which the Company expects to comply. These tax incentives resulted in a tax benefit of approximately $54 million ($0.44 per basic weighted average shares outstanding), $74 million ($0.56 per basic weighted average shares outstanding) and $80 million ($0.57 per basic weighted average shares outstanding) during the fiscal years ended August 31, 2024, 2023, and 2022, respectively.
(2)For the fiscal year ended August 31, 2024, the valuation allowance change was primarily due to the change in deferred tax assets for sites with existing valuation allowances and an income tax expense of $27 million for an increase in the U.S. valuation allowance on deferred tax assets previously recognized. This impact was partially offset by a $20 million decrease in deferred tax assets with a corresponding valuation allowance due to a non-U.S. unrecognized tax benefit. For the fiscal year ended August 2022, the valuation allowance change was primarily due to an income tax benefit of $26 million for the reversal of a portion of the U.S. valuation allowance and decreased deferred tax assets with corresponding valuation allowances due to the liquidation of certain non-U.S. subsidiaries.
(3)As a result of certain operations being classified as held for sale, the Company made a change to its indefinite reinvestment assertions for the fiscal year ended August 31, 2023.
Schedule of Deferred Tax Assets and Liabilities
Significant components of the deferred tax assets and liabilities are summarized below (in millions):
 August 31, 2024
August 31, 2023(1)
Deferred tax assets:
Net operating loss carryforwards$183 $196 
Receivables5 4 
Inventories18 16 
Compensated absences14 16 
Accrued expenses109 116 
Property, plant and equipment2 17 
Domestic tax credits45 22 
Foreign jurisdiction tax credits9 4 
Equity compensation11 8 
Domestic interest carryforwards19 10 
Capital loss carryforwards26 19 
Revenue recognition27 29 
Operating and finance lease liabilities40 39 
Other34 24 
Total deferred tax assets before valuation allowances542 520 
Less valuation allowances(368)(303)
Net deferred tax assets$174 $217 
Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries$83 $201 
Intangible assets29 24 
Operating lease assets81 85 
Other28 16 
Total deferred tax liabilities$221 $326 
Net deferred tax liabilities$(47)$(109)
(1)Excludes $96 million classified as held for sale. See Note 17 – “Business Acquisitions and Divestitures” for additional information.
Schedule of Tax Carryforwards
The amount and expiration dates of income tax net operating loss carryforwards, tax credit carryforwards, and tax capital loss carryforwards, which are available to reduce future taxes, if any, as of August 31, 2024, are as follows (in millions):
Last Fiscal Year of ExpirationAmount
Income tax net operating loss carryforwards:(1)
Domestic - state2044 or indefinite$56 
Foreign2039 or indefinite$592 
Tax credit carryforwards:(1)
Domestic - federal2044$41 
Domestic - state2038 or indefinite$4 
Foreign(2)
2026$9 
Tax capital loss carryforwards:
Domestic - federal2029$100 
(1)Net of unrecognized tax benefits.
(2)Calculated based on the deferral method and includes foreign investment tax credits.
Schedule of Operating Loss Carryforwards
The amount and expiration dates of income tax net operating loss carryforwards, tax credit carryforwards, and tax capital loss carryforwards, which are available to reduce future taxes, if any, as of August 31, 2024, are as follows (in millions):
Last Fiscal Year of ExpirationAmount
Income tax net operating loss carryforwards:(1)
Domestic - state2044 or indefinite$56 
Foreign2039 or indefinite$592 
Tax credit carryforwards:(1)
Domestic - federal2044$41 
Domestic - state2038 or indefinite$4 
Foreign(2)
2026$9 
Tax capital loss carryforwards:
Domestic - federal2029$100 
(1)Net of unrecognized tax benefits.
(2)Calculated based on the deferral method and includes foreign investment tax credits.
Schedule of Reconciliations of Unrecognized Tax Benefits
Reconciliation of the unrecognized tax benefits is summarized below (in millions):
 Fiscal Year Ended August 31,
 202420232022
Beginning balance$257 $253 $241 
Additions for tax positions of prior years19 1 22 
Reductions for tax positions of prior years(21)(7)(21)
Additions for tax positions related to current year(1)
22 23 36 
Divestiture of businesses(49)— — 
Reductions from lapses in statutes of limitations(2)(8)(3)
Settlements(2)
(58)(5)(12)
Foreign exchange rate adjustment— — (10)
Ending balance$168 $257 $253 
Unrecognized tax benefits that would affect the effective tax rate (if recognized)
$94 $150 $150 
(1)The additions for the fiscal years ended August 31, 2024, 2023 and 2022 are primarily related to taxation of certain intercompany transactions.
(2)Settlements for the fiscal year ended August 31, 2024, primarily relates to the settlement of a U.S. audit.
v3.24.3
Business Acquisitions and Divestitures (Tables)
 12 Months Ended
Aug. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Assets and Liabilities Held For Sale
Following is a summary of the carrying amounts of the major classes of assets and liabilities that were classified as held for sale as of August 31, 2023 (in millions):
 August 31, 2023
Assets held for sale:
Accounts receivable, net of allowance for credit losses$96 
Inventories, net of reserve for excess and obsolete inventory559 
Prepaid expenses and other current assets220 
Property, plant and equipment, net of accumulated depreciation724 
Operating lease right-of-use assets112 
Goodwill117 
Deferred income taxes96 
Liabilities held for sale:
Accounts payable$876 
Accrued expenses364 
Non-current operating lease liabilities83 
v3.24.3
Fair Value Measurements (Tables)
 12 Months Ended
Aug. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities Measured at Fair Value
The following table presents the fair value of the Company's financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated (in millions):
Fair Value HierarchyAugust 31, 2024August 31, 2023
Assets:
Cash and cash equivalents:
Cash equivalentsLevel 1
(1)
$303 $— 
Prepaid expenses and other current assets:
Short-term investmentsLevel 127 25 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
11 4 
Derivatives not designated as hedging instruments (Note 11)
Level 2
(2)
25 20 
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
— 9 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
$28 $17 
Derivatives not designated as hedging instruments (Note 11)
Level 2
(2)
22 64 
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
6 1 
Other liabilities:
Net investment hedges:
Derivatives designated as hedging instruments (Note 11)
Level 2
(2)
5 — 
(1)Consist of time deposits that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts, including cash flow hedges and net investment hedges are measured on a recurring basis at fair value, based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers.
Schedule of Carrying Amounts and Fair Values of Notes Payable and Long-term Debt The following table presents the carrying amounts and fair values of the Company's notes payable and long-term debt, by hierarchy level as of the periods indicated (in millions):
August 31, 2024August 31, 2023
Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Notes payable and long-term debt: (Note 7)
3.950% Senior Notes
Level 2
(1)
$498 $487 $497 $468 
3.600% Senior Notes
Level 2
(1)
$497 $468 $496 $448 
3.000% Senior Notes
Level 2
(1)
$594 $529 $593 $502 
1.700% Senior Notes
Level 2
(1)
$499 $476 $498 $452 
4.250% Senior Notes
Level 2
(1)
$496 $495 $495 $478 
5.450% Senior Notes
Level 2
(1)
$296 $306 $296 $297 
(1)The fair value estimates are based upon observable market data.
v3.24.3
Description of Business and Summary of Significant Accounting Policies - Fulfillment Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Capitalized costs $ 141 $ 203  
Amortization of fulfillment cost 80 $ 91 $ 74
Mobility Business      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Capitalized contract cost, write-offs $ 47    
Minimum      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Performance obligation, period (in years) 1 year    
Maximum      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Performance obligation, period (in years) 3 years    
v3.24.3
Description of Business and Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives for Major Classes of Depreciable Assets (Details)
Aug. 31, 2024
Buildings  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 35 years
Machinery and equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 2 years
Machinery and equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 10 years
Furniture, fixtures and office equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 5 years
Computer hardware and software | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 3 years
Computer hardware and software | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 7 years
Transportation equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 3 years
v3.24.3
Description of Business and Summary of Significant Accounting Policies - Leases (Details) - Buildings, Real Estate, Machinery and Equipment
Aug. 31, 2024
Minimum  
Lessee, Lease, Description [Line Items]  
Lease term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Lease term 32 years
v3.24.3
Description of Business and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Property, Plant and Equipment [Abstract]    
Other assets, current, net revenue components $ 734 $ 218
v3.24.3
Description of Business and Summary of Significant Accounting Policies - Stock-Based Compensation (Details)
 12 Months Ended
Aug. 31, 2024
Accounting Policies [Abstract]  
Performance goal vesting percentage 100.00%
v3.24.3
Description of Business and Summary of Significant Accounting Policies - Schedule of Potential Shares of Common Stock not included in the Computation of Earnings Per Share (Details) - shares
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Common shares excluded from computation of diluted earnings per share (in shares) 343,600 383,100 209,400
v3.24.3
Trade Accounts Receivable Sale Programs - Schedule of Trade Accounts Receivable Sale Programs Key Terms (Details) - 12 months ended Aug. 31, 2024
USD ($)
CNY (¥)
INR (₨)
A      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 350,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
B      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 120,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
C      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | ¥   ¥ 1,900,000,000  
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
D      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 150,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
E      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 170,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 15 days    
F      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 50,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 15 days    
G      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 100,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
H      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 800,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
I      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 250,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
J      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | ₨     ₨ 8,100,000,000
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
K      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 100,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
L      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 75,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
v3.24.3
Trade Accounts Receivable Sale Programs - Schedule of Trade Accounts Receivable Sale Programs Amounts Recognized (Details) - Trade Accounts Receivable Sale Programs - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Trade accounts receivable sold $ 8,214 $ 10,784 $ 8,513
Cash proceeds received 8,170 10,748 8,504
Pre-tax losses on sale of receivables $ 44 $ 36 $ 9
v3.24.3
Inventories (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Inventory [Line Items]    
Raw materials $ 3,903 $ 4,804
Work in process 190 217
Finished goods 246 243
Reserve for excess and obsolete inventory (63) (58)
Inventories, net $ 4,276 5,206
Held for Sale | Product Manufacturing Business    
Inventory [Line Items]    
Inventories, net classified as held for sale   $ 559
v3.24.3
Property, Plant and Equipment - Schedule of Components of Property, Plant and Equipment (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Property, Plant and Equipment [Line Items]    
Property, plant and equipment $ 7,760 $ 7,649
Less accumulated depreciation and amortization 4,736 4,512
Property, plant and equipment, net 3,024 3,137
Held for Sale | Product Manufacturing Business    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment, net classified as held for sale   724
Land and improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 108 107
Buildings    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 1,451 1,281
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 681 676
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 4,278 4,362
Furniture, fixtures and office equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 218 229
Computer hardware and software    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 824 840
Transportation equipment    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment 7 7
Construction in progress    
Property, Plant and Equipment [Line Items]    
Property, plant and equipment $ 193 $ 147
v3.24.3
Property, Plant and Equipment - Schedule of Depreciation and Maintenance and Repair Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Property, Plant and Equipment [Abstract]      
Depreciation expense $ 656 $ 891 $ 891
Maintenance and repair expense $ 335 $ 431 $ 395
v3.24.3
Property, Plant and Equipment - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Property, Plant and Equipment [Abstract]    
Acquisition of property, plant and equipment considered a non-cash investing activity $ 122 $ 357
v3.24.3
Leases - Schedule of Lease Assets and Lease Liabilities included on Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Assets    
Operating lease assets $ 360 $ 367
Finance lease assets 378 310
Total lease assets 738 677
Current    
Operating lease liabilities $ 93 $ 104
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Finance lease liabilities $ 119 $ 74
Non-current    
Operating lease liabilities $ 284 $ 269
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other liabilities Other liabilities
Finance lease liabilities $ 235 $ 212
Total lease liabilities 731 659
Finance lease assets, accumulated amortization $ 162 $ 199
v3.24.3
Leases - Schedule of Expenses related to Leases included on Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Leases [Abstract]    
Operating lease cost $ 118 $ 147
Finance lease cost    
Amortization of leased assets 50 89
Interest on lease liabilities 10 9
Net lease cost $ 178 $ 245
v3.24.3
Leases - Schedule of Lease Term and Discount Rate (Details)
Aug. 31, 2024
Aug. 31, 2023
Weighted-average remaining lease term    
Operating leases 5 years 8 months 12 days 5 years 2 months 12 days
Finance leases 5 years 2 months 12 days 2 years 1 month 6 days
Weighted-average discount rate    
Operating leases 3.80% 3.55%
Finance leases 4.23% 3.84%
v3.24.3
Leases - Schedule of Other Supplemental Information related to Lease Portfolio (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows for operating leases $ 116 $ 135
Operating cash flows for finance leases 10 9
Financing activities for finance leases 111 157
Non-cash right-of-use assets obtained in exchange for lease liabilities:    
Operating leases 109 110
Finance leases $ 163 $ 131
v3.24.3
Leases - Schedule of Future Minimum Lease Payments under Operating and Finance Leases (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Operating Leases    
2025 $ 106  
2026 83  
2027 61  
2028 48  
2029 41  
Thereafter 86  
Total lease payments 425  
Less: Imputed interest (48)  
Present value of lease liabilities 377  
Finance Leases    
2025 129  
2026 124  
2027 23  
2028 18  
2029 13  
Thereafter 91  
Total lease payments 398  
Less: Imputed interest (44)  
Present value of lease liabilities 354  
Total    
2025 235  
2026 207  
2027 84  
2028 66  
2029 54  
Thereafter 177  
Total lease payments 823  
Less: Imputed interest (92)  
Total lease liabilities 731 $ 659
Leases not yet commenced 25  
Variable interest entity, reporting entity involvement, maximum loss exposure, amount 124  
Residual value guarantees 274  
VIE    
Finance Leases    
Present value of lease liabilities $ 94  
v3.24.3
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)
 3 Months Ended 12 Months Ended
Aug. 31, 2024
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]        
Impairment of indefinite-lived intangible assets $ 0      
Amortization of intangibles   $ 40,000,000 $ 33,000,000 $ 34,000,000
v3.24.3
Goodwill and Other Intangible Assets - Schedule of Changes in Goodwill Allocated to Reportable Segments (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Goodwill [Roll Forward]    
Beginning balance $ 621 $ 704
Acquisitions and adjustments 34 24
Change in foreign currency exchange rates 6 10
Goodwill classified as held for sale   (117)
Ending balance 661 621
EMS    
Goodwill [Roll Forward]    
Beginning balance 80 79
Acquisitions and adjustments 0 0
Change in foreign currency exchange rates 0 1
Goodwill classified as held for sale   0
Ending balance 80 80
DMS    
Goodwill [Roll Forward]    
Beginning balance 541 625
Acquisitions and adjustments 34 24
Change in foreign currency exchange rates 6 9
Goodwill classified as held for sale   (117)
Ending balance $ 581 $ 541
v3.24.3
Goodwill and Other Intangible Assets - Schedule of Gross Goodwill Balances and Accumulated Impairments (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Goodwill [Line Items]    
Gross Carrying Amount $ 1,681 $ 1,641
Accumulated Impairment $ 1,020 1,020
Held for Sale | Product Manufacturing Business    
Goodwill [Line Items]    
Goodwill   $ 117
v3.24.3
Goodwill and Other Intangible Assets - Schedule of Purchased Intangible Assets (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Feb. 29, 2024
Aug. 31, 2024
Aug. 31, 2023
Acquired Intangible Assets by Major Class [Line Items]      
Weighted Average Amortization Period (in years)   10 years  
Gross Carrying Amount   $ 689 $ 648
Accumulated Amortization   (546) (506)
Net Carrying Amount   143 142
Trade Names      
Acquired Intangible Assets by Major Class [Line Items]      
Gross Carrying Amount   0 51
Net Carrying Amount   $ 0 51
Contractual agreements and customer relationships      
Acquired Intangible Assets by Major Class [Line Items]      
Weighted Average Amortization Period (in years)   12 years  
Gross Carrying Amount   $ 361 320
Accumulated Amortization   (270) (251)
Net Carrying Amount   $ 91 69
Intellectual property      
Acquired Intangible Assets by Major Class [Line Items]      
Weighted Average Amortization Period (in years)   9 years  
Gross Carrying Amount   $ 198 198
Accumulated Amortization   (181) (177)
Net Carrying Amount   $ 17 21
Trade Names      
Acquired Intangible Assets by Major Class [Line Items]      
Weighted Average Amortization Period (in years) 2 years 2 years  
Gross Carrying Amount $ 51 $ 130 79
Accumulated Amortization   (95) (78)
Net Carrying Amount   $ 35 $ 1
v3.24.3
Goodwill and Other Intangible Assets - Schedule of Estimated Future Amortization Expense (Details)
$ in Millions
Aug. 31, 2024
USD ($)
Fiscal Year Ended August 31,  
2025 $ 47
2026 27
2027 18
2028 16
2029 9
Thereafter 26
Total $ 143
v3.24.3
Notes Payable and Long-Term Debt - Schedule of Notes Payable and Long-Term Debt (Details) - USD ($)
Feb. 23, 2024
Aug. 31, 2024
Aug. 31, 2023
Apr. 30, 2023
Apr. 13, 2023
Apr. 30, 2022
Jul. 01, 2020
Debt Instrument [Line Items]              
Total   $ 2,880,000,000 $ 2,875,000,000        
Less current installments of notes payable and long-term debt   0 0        
Notes payable and long-term debt, less current installments   $ 2,880,000,000 2,875,000,000        
Senior Notes | 3.950% Senior Notes              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)   3.95%          
Total   $ 498,000,000 497,000,000        
Senior Notes | 3.600% Senior Notes              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)   3.60%          
Total   $ 497,000,000 496,000,000        
Senior Notes | 3.000% Senior Notes              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)   3.00%         3.00%
Total   $ 594,000,000 593,000,000        
Senior Notes | 1.700% Senior Notes              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)   1.70%          
Total   $ 499,000,000 498,000,000        
Senior Notes | 4.250% Senior Notes              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)   4.25%       4.25%  
Total   $ 496,000,000 495,000,000        
Senior Notes | 5.450% Senior Notes              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)   5.45%   5.45% 5.45%    
Total   $ 296,000,000 296,000,000        
Debt issued         $ 300,000,000    
Senior Notes | Senior Notes Due July 2023              
Debt Instrument [Line Items]              
Stated interest rate (as a percent)         4.90%    
Debt issued         $ 300,000,000    
Line of Credit | Revolving Credit Facility              
Debt Instrument [Line Items]              
Total   0 0        
Unused borrowing capacity   4,000,000,000.0          
Line of Credit | Revolving Credit Facility | Credit Facility Due January 2026              
Debt Instrument [Line Items]              
Credit agreement term 3 years            
Line of Credit | Revolving Credit Facility | Credit Facility Due January 2028              
Debt Instrument [Line Items]              
Credit agreement term 5 years            
Line of Credit | Revolving Credit Facility | Credit Facility              
Debt Instrument [Line Items]              
Credit agreement term 1 year            
Line of Credit | Term Loan Facility              
Debt Instrument [Line Items]              
Total   0 $ 0        
Line of Credit | Commercial Paper              
Debt Instrument [Line Items]              
Maximum borrowing capacity   $ 3,200,000,000          
v3.24.3
Notes Payable and Long-Term Debt - Additional Information (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Apr. 30, 2023
Apr. 13, 2023
Apr. 30, 2022
Jul. 01, 2020
Debt Instrument [Line Items]          
Letters of credit and surety bonds $ 58        
Unused letters of credit $ 60        
Senior Notes | 3.950% Senior Notes          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 3.95%        
Senior Notes | 3.600% Senior Notes          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 3.60%        
Senior Notes | 3.000% Senior Notes          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 3.00%       3.00%
Senior Notes | 1.700% Senior Notes          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 1.70%        
Senior Notes | 4.250% Senior Notes          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 4.25%     4.25%  
Senior Notes | 5.450% Senior Notes          
Debt Instrument [Line Items]          
Stated interest rate (as a percent) 5.45% 5.45% 5.45%    
v3.24.3
Notes Payable and Long-Term Debt - Schedule of Debt Maturities (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Fiscal Year Ended August 31,    
2025 $ 0  
2026 499  
2027 496  
2028 498  
2029 296  
Thereafter 1,091  
Total $ 2,880 $ 2,875
v3.24.3
Asset-Backed Securitization Programs - Additional Information (Details) - USD ($)
Aug. 31, 2024
Feb. 20, 2024
Feb. 19, 2024
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Available liquidity under its asset-backed securitization programs $ 0    
Global Asset-Backed Securitization Program      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount of net cash proceeds   $ 700,000,000 $ 600,000,000
v3.24.3
Asset-Backed Securitization Programs - Schedule of Asset-Backed Securitization Programs Amount Recognized (Details) - Asset-Backed Securitization Programs - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Trade accounts receivable sold $ 4,000 $ 4,101 $ 3,932
Cash proceeds received 3,953 4,061 3,919
Pre-tax losses on sale of receivables $ 47 $ 40 $ 13
v3.24.3
Accrued Expenses (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Inventory deposits $ 1,582 $ 1,839
Contract liabilities 1,017 886
Accrued compensation and employee benefits 699 743
Other accrued expenses 2,201 2,047
Accrued expenses 5,499 5,515
Revenue recognized during period that was included in contract liability balance $ 507 539
Held for Sale | Product Manufacturing Business    
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Accrued expenses classified as held for sale   $ 364
v3.24.3
Postretirement and Other Employee Benefits - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Aug. 31, 2025
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Service period 30 days      
Company contributions $ 78 $ 74 $ 63  
Minimum        
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Funded pension plans 26      
Maximum        
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Funded pension plans $ 31      
Global Equity Securities | Minimum | Expected        
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Target allocation percentage       40.00%
Debt Securities | Minimum | Expected        
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Target allocation percentage       60.00%
Foreign Plan        
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Service period 3 years      
Foreign Plan | Switzerland Plan        
Pension and Other Postretirement Benefits Disclosure [Line Items]        
Service period 8 years      
v3.24.3
Postretirement and Other Employee Benefits - Schedule of Benefit Obligations and Plan Assets, Changes in Benefit Obligation and Plan Assets and Funded Status of Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Change in PBO      
Beginning PBO $ 461 $ 432  
Service cost 21 18 $ 25
Interest cost 12 12 4
Actuarial loss (gain) 32 (23)  
Settlements paid from plan assets (43) (27)  
Total benefits paid (10) (16)  
Plan participants’ contributions 13 22  
Plan amendments 11 0  
Effect of conversion to U.S. dollars 16 43  
Ending PBO 513 461 432
Change in plan assets      
Beginning fair value of plan assets 486 459  
Actual return on plan assets 41 (16)  
Settlements paid from plan assets (43) (27)  
Employer contributions 17 18  
Benefits paid from plan assets (10) (15)  
Plan participants’ contributions 13 22  
Effect of conversion to U.S. dollars 20 45  
Ending fair value of plan assets 524 486 $ 459
Funded status 11 25  
Amounts recognized in the Consolidated Balance Sheets      
Accrued benefit liability, current 2 1  
Accrued benefit asset, noncurrent 13 26  
Accumulated other comprehensive loss      
Actuarial gain, before tax (54) (71)  
Prior service cost, before tax 23 $ 16  
Net actuarial gain expected to be amortized to net period benefit cost in next fiscal year 2    
Prior service cost expected to be amortized to net periodic benefit cost in next fiscal year $ 5    
v3.24.3
Postretirement and Other Employee Benefits - Schedule of Accumulated Benefit Obligation (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Retirement Benefits [Abstract]    
ABO $ 495 $ 441
Plans with ABO in excess of plan assets    
ABO 41 41
Fair value of plan assets 14 15
Plans with PBO in excess of plan assets    
PBO 50 52
Fair value of plan assets $ 14 $ 15
v3.24.3
Postretirement and Other Employee Benefits - Schedule of Information About Net Periodic Benefit Cost for Plans Net Periodic Benefit Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Retirement Benefits [Abstract]      
Service cost $ 21 $ 18 $ 25
Interest cost 12 12 4
Expected long-term return on plan assets (17) (17) (17)
Recognized actuarial gain (7) (7) (6)
Amortization of actuarial gains (3) (7) (8)
Net settlement loss 0 0 1
Amortization of prior service costs 5 4 4
Net periodic benefit cost $ 11 $ 3 $ 3
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Gain (loss) corridor (as a percent) 10.00% 10.00% 10.00%
v3.24.3
Postretirement and Other Employee Benefits - Schedule of Weighted-Average Actuarial Assumptions (Details)
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Net periodic benefit cost:      
Expected long-term return on plan assets 3.70% 3.60% 3.00%
Rate of compensation increase 1.90% 2.10% 2.20%
Discount rate 2.80% 2.60% 0.70%
PBO:      
Expected long-term return on plan assets 3.70% 3.70% 3.60%
Rate of compensation increase 1.80% 1.90% 2.10%
Discount rate 2.10% 2.80% 2.60%
v3.24.3
Postretirement and Other Employee Benefits - Schedule of Fair Values of Plan Assets by Asset Category (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Fair Value $ 524 $ 486 $ 459
Asset Allocation 100.00% 100.00%  
Cash and Cash Equivalents | Level 1      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value $ 12 $ 17  
Asset Allocation 2.00% 3.00%  
Global Equity Securities | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value $ 235 $ 213  
Asset Allocation 45.00% 44.00%  
Corporate Bonds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value $ 223 $ 216  
Asset Allocation 43.00% 45.00%  
Government Bonds | Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value $ 43 $ 30  
Asset Allocation 8.00% 6.00%  
Insurance Contracts | Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Fair Value $ 11 $ 10  
Asset Allocation 2.00% 2.00%  
v3.24.3
Postretirement and Other Employee Benefits - Schedule of Estimated Future Benefit Payments (Details)
$ in Millions
Aug. 31, 2024
USD ($)
Fiscal Year Ended August 31,  
2025 $ 28
2026 26
2027 30
2028 30
2029 30
2030 through 2034 $ 162
v3.24.3
Derivative Financial Instruments and Hedging Activities - Additional Information (Details) - USD ($)
 1 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Aug. 31, 2024
Aug. 31, 2023
Apr. 13, 2023
Jul. 01, 2020
5.450% Senior Notes | Senior Notes            
Derivative [Line Items]            
Stated interest rate (as a percent) 5.45%   5.45%   5.45%  
4.250% Senior Notes | Senior Notes            
Derivative [Line Items]            
Stated interest rate (as a percent)   4.25% 4.25%      
3.000% Senior Notes | Senior Notes            
Derivative [Line Items]            
Stated interest rate (as a percent)     3.00%     3.00%
Cash Flow Hedging            
Derivative [Line Items]            
Cash received at settlement $ 15,000,000 $ 46,000,000        
Forward foreign exchange contracts | Forward Contracts | Cash Flow Hedging | Designated as Hedging Instruments            
Derivative [Line Items]            
Aggregate notional amount     $ 353,000,000 $ 491,000,000    
Forward foreign exchange contracts | Forward Contracts | Cash Flow Hedging | Not Designated as Hedging Instruments            
Derivative [Line Items]            
Aggregate notional amount     $ 2,600,000,000 $ 4,000,000,000.0    
Settled Cash Flow Hedge Effective Date May2021 | Cash Flow Hedging            
Derivative [Line Items]            
Aggregate notional amount 150,000,000          
Settled Cash Flow Hedge Effective Date August 2022 | Cash Flow Hedging            
Derivative [Line Items]            
Aggregate notional amount $ 100,000,000          
Settled Cash Flow Hedge, Effective Date November 2020 | Cash Flow Hedging            
Derivative [Line Items]            
Aggregate notional amount   250,000,000        
Settled Cash Flow Hedge, Effective Date March 2022 | Cash Flow Hedging            
Derivative [Line Items]            
Aggregate notional amount   $ 170,000,000        
Interest Rate Swaps | Cash Flow Hedging | 3.000% Senior Notes            
Derivative [Line Items]            
Aggregate notional amount           $ 200,000,000
v3.24.3
Derivative Financial Instruments and Hedging Activities - Schedule of Maturity Date and Aggregate Notional Amount Outstanding of Net Investment Hedges (Details) - Net investment hedges: - Designated as Hedging Instruments - Forward Contracts - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
September 2023    
Derivative [Line Items]    
Aggregate notional amount $ 0 $ 34
October 2023    
Derivative [Line Items]    
Aggregate notional amount 0 96
January 2024    
Derivative [Line Items]    
Aggregate notional amount 0 96
April 2024    
Derivative [Line Items]    
Aggregate notional amount 0 68
July 2024    
Derivative [Line Items]    
Aggregate notional amount 0 102
October 2024    
Derivative [Line Items]    
Aggregate notional amount 140 0
January 2025    
Derivative [Line Items]    
Aggregate notional amount 106 0
July 2025    
Derivative [Line Items]    
Aggregate notional amount 55 0
January 2026    
Derivative [Line Items]    
Aggregate notional amount 106 0
Total    
Derivative [Line Items]    
Aggregate notional amount $ 407 $ 396
v3.24.3
Derivative Financial Instruments and Hedging Activities - Schedule of Net (Losses) Gains from Forward Contracts Recorded in Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Derivative instruments designated as cash flow hedges:      
Loss to be reclassified in next 12 months $ 8    
Derivative instruments designated as net investment hedges:      
(Losses) gains recognized in OCI (38)    
Amounts reclassified from AOCI 9    
Designated as Hedging Instruments      
Derivative instruments designated as cash flow hedges:      
(Losses) gains recognized in OCI (21) $ (25) $ 1
Designated as Hedging Instruments | Net investment hedges:      
Derivative instruments designated as net investment hedges:      
(Losses) gains recognized in OCI (16) (4) 0
Designated as Hedging Instruments | Gain from the divestiture of businesses | Net investment hedges:      
Derivative instruments designated as net investment hedges:      
Amounts reclassified from AOCI (4) 0 0
Designated as Hedging Instruments | Forward foreign exchange contracts | Cost of revenue      
Derivative instruments designated as cash flow hedges:      
Losses (gains) reclassified from AOCI into earnings 22 44 30
Designated as Hedging Instruments | Interest rate contracts | Interest expense, net      
Derivative instruments designated as cash flow hedges:      
Losses (gains) reclassified from AOCI into earnings (3) (2) 2
Not Designated as Hedging Instruments | Forward foreign exchange contracts | Cost of revenue      
Derivative instruments not designated as hedging instruments:      
Gains (losses) recognized in earnings from forward foreign exchange contracts 16 (111) (71)
(Losses) gains recognized in earnings from changes in foreign currency $ (52) $ 58 $ 87
v3.24.3
Accumulated Other Comprehensive Income - Schedule of Changes in AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance $ 2,867 $ 2,452 $ 2,137
Other comprehensive income (loss) before reclassifications (38)    
Amounts reclassified from AOCI 9    
Total other comprehensive (loss) income (29) 25 (17)
Ending balance 1,737 2,867 2,452
AOCI Attributable to Parent      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (17) (42) (25)
Total other comprehensive (loss) income (29) 25 (17)
Ending balance (46) (17) $ (42)
Foreign Currency Translation Adjustment      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (59)    
Other comprehensive income (loss) before reclassifications 17    
Amounts reclassified from AOCI (2)    
Total other comprehensive (loss) income 15    
Ending balance (44) (59)  
Net Investment Hedges      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (4)    
Other comprehensive income (loss) before reclassifications (16)    
Amounts reclassified from AOCI (4)    
Total other comprehensive (loss) income (20)    
Ending balance (24) (4)  
Derivative Instruments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 14    
Other comprehensive income (loss) before reclassifications (21)    
Amounts reclassified from AOCI 19    
Total other comprehensive (loss) income (2)    
Ending balance 12 14  
Actuarial Gain (Loss)      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance 46    
Other comprehensive income (loss) before reclassifications (9)    
Amounts reclassified from AOCI (8)    
Total other comprehensive (loss) income (17)    
Ending balance 29 46  
Prior Service (Cost) Credit      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Beginning balance (14)    
Other comprehensive income (loss) before reclassifications (9)    
Amounts reclassified from AOCI 4    
Total other comprehensive (loss) income (5)    
Ending balance $ (19) $ (14)  
v3.24.3
Accumulated Other Comprehensive Income - Schedule of Reclassification from AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Gain from the divestiture of businesses $ (942) $ 0 $ 0
Realized (gains) losses on pension and postretirement plans: 89 69 12
Reclassification out of AOCI | Foreign Currency Translation Adjustment      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Gain from the divestiture of businesses (2) 0 0
Reclassification out of AOCI | Actuarial gains      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Realized (gains) losses on pension and postretirement plans: (8) (14) (14)
Reclassification out of AOCI | Prior service costs      
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Realized (gains) losses on pension and postretirement plans: $ 4 $ 4 $ 4
v3.24.3
Stockholders' Equity - Schedule of Recognized Stock-Based Compensation (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense $ 89 $ 95 $ 81
Restricted Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense 70 81 67
Reversal of stock-based compensation expense 13    
Employee stock purchase plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense $ 19 $ 14 $ 14
v3.24.3
Stockholders' Equity - Equity Compensation Plan, Additional Information (Details)
Aug. 31, 2024
shares
2021 EIP  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Maximum aggregate number of shares authorized (in shares) 11,000,000
v3.24.3
Stockholders' Equity - Schedule of Shares Available for Grant (Details)
 12 Months Ended
Aug. 31, 2024
shares
Reconciliation of Shares Available to be Issued [Roll Forward]  
Balance as of beginning of period (in shares) 8,463,733
Restricted stock units granted, net of forfeitures (in shares) (425,401)
Balance as of end of period (in shares) 8,038,332
v3.24.3
Stockholders' Equity - Restricted Stock Units, Additional Information (Details)
 12 Months Ended
Aug. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting percentage (up to) 100.00%
Time-Based Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting period 3 years
Performance-Based Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting period 3 years
Performance-Based Restricted Stock Units | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting percentage (up to) 150.00%
Market-Based Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting period 3 years
Market-Based Restricted Stock Units | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting percentage (up to) 200.00%
v3.24.3
Stockholders' Equity - Schedule of Restricted Stock Activity (Details)
 12 Months Ended
Aug. 31, 2024
$ / shares
shares
Shares  
Outstanding as of beginning of period (in shares) 3,908,753
Changes during the period  
Shares granted (in shares) 809,015
Shares vested (in shares) (1,802,380)
Shares forfeited (in shares) (383,614)
Outstanding as of end of period (in shares) 2,531,774
Weighted-Average Grant-Date Fair Value  
Outstanding as of beginning of period (in dollars per share) | $ / shares $ 58.70
Changes during the period  
Shares granted (in dollars per share) | $ / shares 144.79
Shares vested (in dollars per share) | $ / shares 46.99
Shares forfeited (in dollars per share) | $ / shares 97.60
Outstanding as of end of period (in dollars per share) | $ / shares $ 91.51
Time-Based Restricted Stock Units  
Changes during the period  
Restricted stock units awarded (in shares) 500,000
Performance-Based Restricted Stock Units  
Changes during the period  
Restricted stock units awarded (in shares) 100,000
Market-Based Restricted Stock Units  
Changes during the period  
Restricted stock units awarded (in shares) 100,000
v3.24.3
Stockholders' Equity - Schedule of Share-based Compensation Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Fair value of restricted stock units vested $ 85 $ 93 $ 72
Tax benefit for stock compensation expense 3 $ 2 $ 2
Unrecognized stock-based compensation expense — restricted stock units $ 47    
Remaining weighted-average period for restricted stock units expense 1 year 4 months 24 days    
v3.24.3
Stockholders' Equity - Employee Stock Purchase Plan, Additional Information (Details) - shares
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Shares available for issuance under share based compensation plan (in shares) 8,038,332 8,463,733
ESPP | Employee Stock Purchase Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Maximum aggregate number of shares authorized (in shares) 23,000,000  
Eligibility period for employees to participate in ESPP 90 days  
Maximum percentage of an employees salary that can be used to purchase shares under the ESPP 10.00%  
Percentage for fair market value fixed for pricing 85.00%  
Shares available for issuance under share based compensation plan (in shares) 9,359,036  
v3.24.3
Stockholders' Equity - Schedule of Black-Scholes Option Pricing Model (Details)
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Expected dividend yield 0.10% 0.30% 0.30%
Risk-free interest rate 5.40% 3.40% 0.10%
Expected volatility 34.10% 37.40% 29.60%
Expected life 6 months 6 months 6 months
v3.24.3
Stockholders' Equity - Schedule of Cash Dividends Declared to Common Stockholders (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Aug. 31, 2024
May 31, 2024
Feb. 29, 2024
Nov. 30, 2023
Aug. 31, 2023
May 31, 2023
Feb. 28, 2023
Nov. 30, 2022
Share-Based Payment Arrangement [Abstract]                
Dividend per Share (in dollars per share) $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.08 $ 0.08
Total of Cash Dividends Declared $ 10 $ 9 $ 10 $ 11 $ 11 $ 11 $ 10 $ 12
v3.24.3
Stockholders' Equity - Schedule of Common Stock Outstanding (Details) - shares
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 131,294,422    
Treasury shares purchased (in shares) (11,300,000) (6,700,000) (11,800,000)
Common stock outstanding, ending balance (in shares) 113,744,167 131,294,422  
Common stock:      
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Common stock outstanding, beginning balances (in shares) 131,294,422 135,493,980 144,496,077
Shares issued under employee stock purchase plan (in shares) 628,960 1,043,294 970,480
Vesting of restricted stock (in shares) 1,802,380 2,014,802 2,503,143
Purchases of treasury stock under employee stock plans (in shares) (537,318) (571,606) (713,667)
Treasury shares purchased (in shares) (19,444,277) (6,686,048) (11,762,053)
Common stock outstanding, ending balance (in shares) 113,744,167 131,294,422 135,493,980
v3.24.3
Stockholders' Equity - Schedule of Repurchase of Common Stock under Share Repurchase Program (Details) - USD ($)
shares in Millions, $ in Millions
 2 Months Ended 12 Months Ended 14 Months Ended 21 Months Ended
Oct. 21, 2024
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Oct. 28, 2024
Feb. 28, 2023
Nov. 30, 2023
Sep. 30, 2023
Nov. 30, 2022
Aug. 31, 2021
Share Repurchase Program [Line Items]                    
Shares Repurchased (in shares)   11.3 6.7 11.8            
Total Cash Utilized   $ 2,500 $ 487 $ 696            
2022 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized                   $ 1,000
Shares Repurchased (in shares)           16.5        
Total Cash Utilized           $ 1,000        
Remaining Authorization           $ 0        
2023 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized                 $ 1,000  
Shares Repurchased (in shares)     2.7              
Total Cash Utilized     $ 224              
Amended 2023 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized             $ 2,500 $ 2,500    
Amended 2023 Share Repurchase Program | Subsequent Event                    
Share Repurchase Program [Line Items]                    
Shares Repurchased (in shares)         20.4          
Total Cash Utilized         $ 2,500          
Remaining Authorization         0          
2025 Share Repurchase Program | Subsequent Event                    
Share Repurchase Program [Line Items]                    
Amount Authorized         $ 1,000          
Shares Repurchased (in shares) 0.7                  
Total Cash Utilized $ 84                  
Remaining Authorization $ 916                  
v3.24.3
Stockholders' Equity - Schedule of Accelerated Share Repurchases Agreement (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 2 Months Ended 3 Months Ended 5 Months Ended 12 Months Ended
Oct. 28, 2024
Aug. 31, 2024
Nov. 30, 2023
Oct. 28, 2024
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Share Repurchase Program [Line Items]              
Total Shares Delivered (in shares)         11.3 6.7 11.8
Accelerated Share Repurchase Program              
Share Repurchase Program [Line Items]              
Agreement Amount   $ 555 $ 500   $ 555    
Initial Shares Delivered (in shares)   4.2 3.3        
Additional Shares Delivered (in shares)     0.6        
Total Shares Delivered (in shares)     3.9        
Average Price Paid Per Share (in dollars per share)     $ 128.61        
Accelerated Share Repurchase Program | Subsequent Event              
Share Repurchase Program [Line Items]              
Additional Shares Delivered (in shares) 1.0            
Total Shares Delivered (in shares)       5.2      
Average Price Paid Per Share (in dollars per share)       $ 107.08      
v3.24.3
Stockholders' Equity - Schedule of Common Stock Repurchased through Open Market (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Shares Repurchased (in shares) 11.3 6.7 11.8
Cost $ 1,445 $ 487 $ 696
v3.24.3
Concentration of Risk and Segment Data - Additional Information (Details)
 12 Months Ended
Sep. 01, 2024
segment
Aug. 31, 2024
country
segment
Revenue, Major Customer [Line Items]    
Number of operating segments | segment 3 2
Number of operating countries | country   30
Customer Concentration | Net Revenue | Five Largest Customers    
Revenue, Major Customer [Line Items]    
Concentration of risk percentage   36.00%
Customer Concentration | Net Revenue | 88 Customers    
Revenue, Major Customer [Line Items]    
Concentration of risk percentage   90.00%
v3.24.3
Concentration of Risk and Segment Data - Schedule of Concentration of Risk (Details)
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Net Revenue | Apple, Inc. | Customer Concentration      
Revenue, Major Customer [Line Items]      
Concentration of risk percentage 11.00% 17.00% 19.00%
v3.24.3
Concentration of Risk and Segment Data - Schedule of Revenues Disaggregated by Segment (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Disaggregation of Revenue [Line Items]      
Net revenue $ 28,883 $ 34,702 $ 33,478
Point in time      
Disaggregation of Revenue [Line Items]      
Net revenue 8,410 11,547 12,930
Over time      
Disaggregation of Revenue [Line Items]      
Net revenue 20,473 23,155 20,548
EMS      
Disaggregation of Revenue [Line Items]      
Net revenue 13,805 16,749 16,737
EMS | Point in time      
Disaggregation of Revenue [Line Items]      
Net revenue 4,502 5,094 6,112
EMS | Over time      
Disaggregation of Revenue [Line Items]      
Net revenue 9,303 11,655 10,625
DMS      
Disaggregation of Revenue [Line Items]      
Net revenue 15,078 17,953 16,741
DMS | Point in time      
Disaggregation of Revenue [Line Items]      
Net revenue 3,908 6,453 6,818
DMS | Over time      
Disaggregation of Revenue [Line Items]      
Net revenue $ 11,170 $ 11,500 $ 9,923
v3.24.3
Concentration of Risk and Segment Data - Schedule of Segment Income and Reconciliation of Income Before Income Tax (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 29, 2023
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income   $ 1,751 $ 1,262 $ 1,231
Reconciling items:        
Amortization of intangibles   (40) (33) (34)
Stock-based compensation expense and related charges   (89) (95) (81)
Restructuring, severance and related charges   (296) (57) (18)
Gain from the divestiture of businesses   942 0 0
Acquisition and divestiture related charges   (70) 0 0
Loss on debt extinguishment   0 0 (4)
Interest expense, net   (173) (206) (146)
Held for Sale | Product Manufacturing Business        
Reconciling items:        
Gain from the divestiture of businesses $ 942 942    
Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income   1,588 1,733 1,543
Segment Reconciling Items        
Reconciling items:        
Amortization of intangibles   (40) (33) (34)
Stock-based compensation expense and related charges   (89) (95) (81)
Restructuring, severance and related charges   (296) (57) (18)
Business interruption and impairment charges, net   (16) 0 0
Gain from the divestiture of businesses   942 0 0
Acquisition and divestiture related charges   (70) 0 0
Loss on debt extinguishment   0 0 (4)
Other expense (net of periodic benefit cost)   (95) (80) (29)
Interest expense, net   (173) (206) (146)
EMS | Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income   719 837 727
Reconciling items:        
Restructuring, severance and related charges   (76) (10) (1)
DMS | Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income   869 896 816
Reconciling items:        
Restructuring, severance and related charges   $ (152) $ (35) $ (10)
v3.24.3
Concentration of Risk and Segment Data - Schedule of Segment Assets (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets $ 17,351 $ 19,424
Assets held for sale 0 1,929
Operating Segments | EMS    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 4,384 4,859
Operating Segments | DMS    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 6,387 6,802
Segment Reconciling Items | Held for Sale    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets held for sale 0 1,929
Non-allocated Charges    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets $ 6,580 $ 5,834
v3.24.3
Concentration of Risk and Segment Data - Schedule of Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue $ 28,883 $ 34,702 $ 33,478
Long-lived assets 3,384 3,504 4,454
Total Foreign      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 23,836 29,767 28,089
Long-lived assets 2,809 2,873 3,822
Mexico      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 5,872 6,083 5,630
Long-lived assets 647 670 594
China      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 4,810 5,868 5,272
Long-lived assets 736 865 1,956
China | Held for Sale | Product Manufacturing Business      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-lived assets classified as held for sale   836  
Singapore      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 4,486 7,385 7,916
Malaysia      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Long-lived assets 352    
Other      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 8,668 10,431 9,271
Long-lived assets 1,074 1,338 1,272
U.S.      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Net revenue 5,047 4,935 5,389
Long-lived assets $ 575 $ 631 $ 632
v3.24.3
Restructuring, Severance and Related Charges - Schedule of Restructuring, Severance and Related Charges (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges $ 296 $ 57 $ 18
Operating Segments | EMS      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges 76 10 1
Operating Segments | DMS      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges 152 35 10
Non-allocated Charges      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges 68 12 7
Employee severance and benefit costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges 177 48 18
Lease costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges 2 0 0
Asset write-off costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges 79 5 0
Other costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring, severance and related charges $ 38 $ 4 $ 0
v3.24.3
Restructuring, Severance and Related Charges - Additional Information (Details) - USD ($)
$ in Millions
Sep. 24, 2024
Aug. 31, 2024
2024 Restructuring Plan    
Restructuring Cost and Reserve [Line Items]    
Total pre-tax restructuring and other related costs expected to be recognized   $ 300
2025 Restructuring Plan | Minimum | Subsequent Event    
Restructuring Cost and Reserve [Line Items]    
Total pre-tax restructuring and other related costs expected to be recognized $ 150  
Payments for restructuring, expected cost 100  
2025 Restructuring Plan | Maximum | Subsequent Event    
Restructuring Cost and Reserve [Line Items]    
Total pre-tax restructuring and other related costs expected to be recognized 200  
Payments for restructuring, expected cost $ 130  
v3.24.3
Restructuring, Severance and Related Charges - Schedule of Liability Activity (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Restructuring Reserve [Roll Forward]      
Restructuring related charges $ 296 $ 57 $ 18
Employee  Severance and Benefit Costs      
Restructuring Reserve [Roll Forward]      
Restructuring related charges 177 48 18
Lease Costs      
Restructuring Reserve [Roll Forward]      
Restructuring related charges 2 0 0
Asset Write-off Costs      
Restructuring Reserve [Roll Forward]      
Restructuring related charges 79 5 $ 0
2024 Restructuring Plan      
Restructuring Reserve [Roll Forward]      
Beginning balance 0    
Restructuring related charges 296    
Asset write-off charge and other non-cash activity (91)    
Cash payments (133)    
Ending balance 72 0  
2024 Restructuring Plan | Employee  Severance and Benefit Costs      
Restructuring Reserve [Roll Forward]      
Beginning balance 0    
Restructuring related charges 177    
Asset write-off charge and other non-cash activity 4    
Cash payments (115)    
Ending balance 66 0  
2024 Restructuring Plan | Lease Costs      
Restructuring Reserve [Roll Forward]      
Beginning balance 0    
Restructuring related charges 2    
Asset write-off charge and other non-cash activity 0    
Cash payments (1)    
Ending balance 1 0  
2024 Restructuring Plan | Asset Write-off Costs      
Restructuring Reserve [Roll Forward]      
Beginning balance 0    
Restructuring related charges 79    
Asset write-off charge and other non-cash activity (79)    
Cash payments 0    
Ending balance 0 0  
2024 Restructuring Plan | Other Related Costs      
Restructuring Reserve [Roll Forward]      
Beginning balance 0    
Restructuring related charges 38    
Asset write-off charge and other non-cash activity (16)    
Cash payments (17)    
Ending balance $ 5 $ 0  
v3.24.3
Income Taxes - Schedule of Income (Loss) Before Income Tax Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Income Tax Disclosure [Abstract]      
Domestic $ (366) $ (315) $ (116)
Foreign 2,117 1,577 1,347
Income before income tax $ 1,751 $ 1,262 $ 1,231
v3.24.3
Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Current:      
Domestic - federal $ 0 $ 1 $ 7
Domestic - state 5 2 2
Foreign 442 350 239
Total current 447 353 248
Deferred:      
Domestic - federal 12 (2) (25)
Domestic - state (2) 4 0
Foreign (94) 89 12
Total deferred (84) 91 (13)
Total income tax expense $ 363 $ 444 $ 235
v3.24.3
Income Taxes - Schedule of Reconciliations of Income Tax Expense at U.S. Federal Statutory Income Tax Rate (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Operating Loss Carryforwards [Line Items]      
U.S. federal statutory income tax rate 21.00% 21.00% 21.00%
State income taxes, net of federal tax benefit (0.30%) 0.20% 0.70%
Impact of foreign tax rates 0.10% (1.80%) (4.00%)
Permanent differences 0.50% (0.50%) 1.20%
Income tax credits (0.70%) (0.50%) (0.50%)
Valuation allowance 3.50% 1.10% (3.30%)
Equity compensation (0.40%) 0.50% (0.50%)
Impact of intercompany charges and dividends (0.70%) 2.40% 3.60%
Global Intangible Low-Taxed Income 1.90% 0.80% 1.10%
Change in indefinite reinvestment assertion 0.40% 11.70% 0.00%
Divestiture of the Mobility Business (5.90%) 0.00% 0.00%
Other, net 1.30% 0.30% (0.20%)
Effective income tax rate 20.70% 35.20% 19.10%
Income tax benefit on income from subsidiaries $ 54 $ 74 $ 80
Per basic share income tax benefit on income from subsidiaries (in dollars per share) $ 0.44 $ 0.56 $ 0.57
Income tax expense associated with remeasurement, increase (decrease) of deferred tax assets     $ 26
Foreign Tax Authority      
Operating Loss Carryforwards [Line Items]      
Income tax expense associated with remeasurement, increase (decrease) of deferred tax assets $ (20)    
Domestic Tax Authority      
Operating Loss Carryforwards [Line Items]      
Income tax expense associated with remeasurement, increase (decrease) of deferred tax assets $ 27    
v3.24.3
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Deferred tax assets:    
Net operating loss carryforwards $ 183 $ 196
Receivables 5 4
Inventories 18 16
Compensated absences 14 16
Accrued expenses 109 116
Property, plant and equipment 2 17
Domestic tax credits 45 22
Foreign jurisdiction tax credits 9 4
Equity compensation 11 8
Domestic interest carryforwards 19 10
Capital loss carryforwards 26 19
Revenue recognition 27 29
Operating and finance lease liabilities 40 39
Other 34 24
Total deferred tax assets before valuation allowances 542 520
Less valuation allowances (368) (303)
Net deferred tax assets 174 217
Deferred tax liabilities:    
Unremitted earnings of foreign subsidiaries 83 201
Intangible assets 29 24
Operating lease assets 81 85
Other 28 16
Total deferred tax liabilities 221 326
Net deferred tax liabilities $ (47) (109)
Held for Sale | Product Manufacturing Business    
Deferred tax liabilities:    
Total deferred tax assets before valuation allowances classified as held for sale   $ 96
v3.24.3
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Operating Loss Carryforwards [Line Items]      
Income tax expense associated with remeasurement, increase (decrease) of deferred tax assets     $ 26
Undistributed earnings of foreign subsidiaries $ 800    
Unrecognized deferred tax liability 100    
Accrued interest and penalties related to unrecognized tax benefits included in income tax provision 17 $ 31  
Recognized (derecognized) tax benefit, accrued interest and penalties 14 $ 3 $ 0
Possible adjustments for transfer pricing and certain inclusions in taxable income 50    
Domestic Tax Authority      
Operating Loss Carryforwards [Line Items]      
Income tax expense associated with remeasurement, increase (decrease) of deferred tax assets $ 27    
v3.24.3
Income Taxes - Schedule of Tax Carryforwards and Operating Loss Carryforwards (Details)
$ in Millions
Aug. 31, 2024
USD ($)
Domestic - federal  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards $ 41
Domestic - federal | Tax capital loss carryforwards:  
Operating Loss Carryforwards [Line Items]  
Tax credit carryforwards 100
Domestic - state  
Operating Loss Carryforwards [Line Items]  
Income tax net operating loss carryforwards 56
Tax credit carryforwards 4
Foreign  
Operating Loss Carryforwards [Line Items]  
Income tax net operating loss carryforwards 592
Tax credit carryforwards $ 9
v3.24.3
Income Taxes - Schedule of Reconciliations of Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Reconciliation of Unrecognized Tax Benefits [Roll Forward]      
Beginning balance $ 257 $ 253 $ 241
Additions for tax positions of prior years 19 1 22
Reductions for tax positions of prior years (21) (7) (21)
Additions for tax positions related to current year 22 23 36
Divestiture of businesses (49) 0 0
Reductions from lapses in statutes of limitations (2) (8) (3)
Settlements (58) (5) (12)
Foreign exchange rate adjustment 0 0 (10)
Ending balance 168 257 253
Unrecognized tax benefits that would affect the effective tax rate (if recognized) $ 94 $ 150 $ 150
v3.24.3
Business Acquisitions and Divestitures - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Oct. 01, 2024
Dec. 29, 2023
Nov. 01, 2023
Feb. 29, 2024
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Sep. 26, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Goodwill         $ 661 $ 621 $ 704  
Gain from the divestiture of businesses         942 0 $ 0  
Indefinite-lived intangible asset         $ 689 648    
Estimated useful life         10 years      
Trade Names                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Indefinite-lived intangible asset       $ 51 $ 130 $ 79    
Estimated useful life       2 years 2 years      
Held for Sale | Product Manufacturing Business                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Consideration for the sale of a business               $ 2,200
Derecognized net assets   $ 1,200            
Gain from the divestiture of businesses   $ 942     $ 942      
Transaction, exit and disposal costs         $ 67      
ProcureAbility Inc.                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Amount of cash paid for business acquisitions     $ 60          
Assets acquired     87          
Intangible assets acquired     40          
Goodwill     38          
Liabilities assumed     $ 26          
Mikros Technologies LLC | Subsequent Event                
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]                
Consideration transferred $ 62              
v3.24.3
Business Acquisitions and Divestitures - Schedule of Assets and Liabilities Held For Sale (Details) - Held for Sale - Product Manufacturing Business
$ in Millions
Aug. 31, 2023
USD ($)
Assets held for sale:  
Accounts receivable, net of allowance for credit losses $ 96
Inventories, net of reserve for excess and obsolete inventory 559
Prepaid expenses and other current assets 220
Property, plant and equipment, net of accumulated depreciation 724
Operating lease right-of-use assets 112
Goodwill 117
Deferred income taxes 96
Liabilities held for sale:  
Accounts payable 876
Accrued expenses 364
Non-current operating lease liabilities $ 83
v3.24.3
Fair Value Measurements - Schedule of Fair Value of Financial Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Level 1    
Assets:    
Cash equivalents $ 303 $ 0
Short-term investments $ 27 $ 25
Level 2 | Designated as Hedging Instruments | Forward foreign exchange contracts    
Assets:    
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets
Forward foreign exchange contracts and net investment hedges $ 11 $ 4
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Forward foreign exchange contracts and net investment hedges $ 28 $ 17
Level 2 | Designated as Hedging Instruments | Interest Rate Swaps    
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Level 2 | Designated as Hedging Instruments | Net investment hedges:    
Assets:    
Forward foreign exchange contracts and net investment hedges $ 0 $ 9
Liabilities:    
Forward foreign exchange contracts and net investment hedges 6 1
Net investment hedges $ 5 $ 0
Level 2 | Not Designated as Hedging Instruments | Forward foreign exchange contracts    
Assets:    
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets
Forward foreign exchange contracts and net investment hedges $ 25 $ 20
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Forward foreign exchange contracts and net investment hedges $ 22 $ 64
Level 2 | Not Designated as Hedging Instruments | Interest Rate Swaps    
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
v3.24.3
Fair Value Measurements - Schedule of Carrying Amounts and Fair Values of Notes Payable and Long-term Debt (Details) - USD ($)
$ in Millions
Aug. 31, 2024
Aug. 31, 2023
Apr. 30, 2023
Apr. 13, 2023
Apr. 30, 2022
Jul. 01, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount $ 2,880 $ 2,875        
Senior Notes | 3.950% Senior Notes            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Stated interest rate (as a percent) 3.95%          
Carrying Amount $ 498 497        
Senior Notes | 3.950% Senior Notes | Level 2 | Carrying Amount            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount 498 497        
Senior Notes | 3.950% Senior Notes | Level 2 | Fair Value            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Fair Value $ 487 468        
Senior Notes | 3.600% Senior Notes            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Stated interest rate (as a percent) 3.60%          
Carrying Amount $ 497 496        
Senior Notes | 3.600% Senior Notes | Level 2 | Carrying Amount            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount 497 496        
Senior Notes | 3.600% Senior Notes | Level 2 | Fair Value            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Fair Value $ 468 448        
Senior Notes | 3.000% Senior Notes            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Stated interest rate (as a percent) 3.00%         3.00%
Carrying Amount $ 594 593        
Senior Notes | 3.000% Senior Notes | Level 2 | Carrying Amount            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount 594 593        
Senior Notes | 3.000% Senior Notes | Level 2 | Fair Value            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Fair Value $ 529 502        
Senior Notes | 1.700% Senior Notes            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Stated interest rate (as a percent) 1.70%          
Carrying Amount $ 499 498        
Senior Notes | 1.700% Senior Notes | Level 2 | Carrying Amount            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount 499 498        
Senior Notes | 1.700% Senior Notes | Level 2 | Fair Value            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Fair Value $ 476 452        
Senior Notes | 4.250% Senior Notes            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Stated interest rate (as a percent) 4.25%       4.25%  
Carrying Amount $ 496 495        
Senior Notes | 4.250% Senior Notes | Level 2 | Carrying Amount            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount 496 495        
Senior Notes | 4.250% Senior Notes | Level 2 | Fair Value            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Fair Value $ 495 478        
Senior Notes | 5.450% Senior Notes            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Stated interest rate (as a percent) 5.45%   5.45% 5.45%    
Carrying Amount $ 296 296        
Senior Notes | 5.450% Senior Notes | Level 2 | Carrying Amount            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Carrying Amount 296 296        
Senior Notes | 5.450% Senior Notes | Level 2 | Fair Value            
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]            
Fair Value $ 306 $ 297        
v3.24.3
Schedule of Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Reserve for excess and obsolete inventory      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period $ 58 $ 82 $ 85
Additions and Adjustments Charged to Costs and Expenses 40 34 23
Additions/ (Reductions) Charged to Other Accounts 0 (27) 0
Write-offs (35) (31) (26)
Balance at End of Period 63 58 82
Valuation allowance for deferred taxes      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period 303 281 353
Additions and Adjustments Charged to Costs and Expenses 96 28 19
Additions/ (Reductions) Charged to Other Accounts 3 9 (31)
Write-offs (34) (15) (60)
Balance at End of Period $ 368 $ 303 $ 281