JABIL INC, 10-Q filed on 4/1/2022
Quarterly Report
v3.22.1
Cover Page - shares
 6 Months Ended
Feb. 28, 2022
Mar. 22, 2022
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Feb. 28, 2022  
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, $0.001 par value per share  
Trading Symbol JBL  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   141,216,283
Amendment Flag false  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0000898293  
Current Fiscal Year End Date --08-31  
v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Feb. 28, 2022
Aug. 31, 2021
Current assets:    
Cash and cash equivalents $ 1,093 $ 1,567
Accounts receivable, net of allowance for doubtful accounts 3,229 3,141
Contract assets 1,236 998
Inventories, net 5,395 4,414
Prepaid expenses and other current assets 914 757
Total current assets 11,867 10,877
Property, plant and equipment, net of accumulated depreciation of $5,328 as of February 28, 2022 and $5,033 as of August 31, 2021 3,784 4,075
Operating lease right-of-use asset 470 390
Goodwill 719 715
Intangible assets, net of accumulated amortization of $457 as of February 28, 2022 and $442 as of August 31, 2021 176 182
Deferred income taxes 167 176
Other assets 247 239
Total assets 17,430 16,654
Current liabilities:    
Current installments of notes payable and long-term debt 501 0
Accounts payable 6,868 6,841
Accrued expenses 4,231 3,734
Current operating lease liabilities 114 108
Total current liabilities 11,714 10,683
Notes payable and long-term debt, less current installments 2,380 2,878
Other liabilities 302 334
Non-current operating lease liabilities 401 333
Income tax liabilities 176 178
Deferred income taxes 119 111
Total liabilities 15,092 14,517
Commitments and contingencies
Jabil Inc. stockholders’ equity:    
Preferred stock, $0.001 par value, authorized 10,000,000 shares; no shares issued and no shares outstanding 0 0
Common stock, $0.001 par value, authorized 500,000,000 shares; 270,392,290 and 267,418,092 shares issued and 142,392,135 and 144,496,077 shares outstanding as of February 28, 2022 and August 31, 2021, respectively 0 0
Additional paid-in capital 2,608 2,533
Retained earnings 3,127 2,688
Accumulated other comprehensive loss (22) (25)
Treasury stock at cost, 128,000,155 and 122,922,015 shares as of February 28, 2022 and August 31, 2021, respectively (3,376) (3,060)
Total Jabil Inc. stockholders’ equity 2,337 2,136
Noncontrolling interests 1 1
Total equity 2,338 2,137
Total liabilities and equity $ 17,430 $ 16,654
v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Feb. 28, 2022
Aug. 31, 2021
Statement of Financial Position [Abstract]    
Property, plant and equipment, accumulated depreciation $ 5,328 $ 5,033
Intangible assets, accumulated amortization $ 457 $ 442
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 500,000,000 500,000,000
Common stock, shares issued 270,392,290 267,418,092
Common stock, shares outstanding 142,392,135 144,496,077
Treasury stock at cost, shares 128,000,155 122,922,015
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Income Statement [Abstract]        
Net revenue $ 7,553 $ 6,828 $ 16,120 $ 14,661
Cost of revenue 6,944 6,259 14,836 13,457
Gross profit 609 569 1,284 1,204
Operating expenses:        
Selling, general and administrative 280 306 588 609
Research and development 8 9 17 17
Amortization of intangibles 8 12 16 23
Restructuring, severance and related charges 0 6 0 5
Operating income 313 236 663 550
Other income (4) (2) (3) (3)
Interest income 0 (2) (1) (4)
Interest expense 33 31 66 63
Income before income tax 284 209 601 494
Income tax expense 62 57 138 141
Net income 222 152 463 353
Net income attributable to noncontrolling interests, net of tax 0 0 0 1
Net income attributable to Jabil Inc. $ 222 $ 152 $ 463 $ 352
Earnings per share attributable to the stockholders of Jabil Inc.:        
Basic (in dollars per share) $ 1.55 $ 1.01 $ 3.22 $ 2.34
Diluted (in dollars per share) $ 1.51 $ 0.99 $ 3.15 $ 2.30
Weighted average shares outstanding:        
Basic (in shares) 143.5 150.3 143.8 150.2
Diluted (in shares) 146.4 153.0 147.0 153.1
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Statement of Comprehensive Income [Abstract]        
Net income $ 222 $ 152 $ 463 $ 353
Other comprehensive income:        
Change in foreign currency translation 16 0 (11) 11
Change in derivative instruments:        
Change in fair value of derivatives 19 31 25 56
Adjustment for net gains realized and included in net income (5) (21) (3) (37)
Total change in derivative instruments 14 10 22 19
Actuarial loss (5) 0 (10) 0
Prior service credit 1 0 2 0
Total other comprehensive income 26 10 3 30
Comprehensive income 248 162 466 383
Comprehensive income attributable to noncontrolling interests 0 0 0 1
Comprehensive income attributable to Jabil Inc. $ 248 $ 162 $ 466 $ 382
v3.22.1
CONDENSED 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, 2020 $ 1,825   $ 2,414 $ 2,041 $ (34) $ (2,610) $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Shares issued under employee stock purchase plan     20        
Recognition of stock-based compensation     54        
Declared dividends       (25)      
Net income 353     352     1
Other comprehensive income 30       30    
Purchases of treasury stock under employee stock plans           (21)  
Treasury shares purchased           (132)  
Declared dividends to noncontrolling interests             (2)
Ending Balance at Feb. 28, 2021 2,102 $ 0 2,488 2,368 (4) (2,763) 13
Beginning Balance at Nov. 30, 2020 1,994   2,445 2,229 (14) (2,681) 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Shares issued under employee stock purchase plan     20        
Recognition of stock-based compensation     23        
Declared dividends       (13)      
Net income 152     152     0
Other comprehensive income 10       10    
Purchases of treasury stock under employee stock plans           0  
Treasury shares purchased           (82)  
Declared dividends to noncontrolling interests             (2)
Ending Balance at Feb. 28, 2021 2,102 0 2,488 2,368 (4) (2,763) 13
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     26        
Recognition of stock-based compensation     49        
Declared dividends       (24)      
Net income 463     463     0
Other comprehensive income 3       3    
Purchases of treasury stock under employee stock plans           (44)  
Treasury shares purchased           (272)  
Declared dividends to noncontrolling interests             0
Ending Balance at Feb. 28, 2022 2,338 0 2,608 3,127 (22) (3,376) 1
Beginning Balance at Nov. 30, 2021 2,207   2,567 2,917 (48) (3,230) 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Shares issued under employee stock purchase plan     26        
Recognition of stock-based compensation     15        
Declared dividends       (12)      
Net income 222     222     0
Other comprehensive income 26       26    
Purchases of treasury stock under employee stock plans           (1)  
Treasury shares purchased           (145)  
Declared dividends to noncontrolling interests             0
Ending Balance at Feb. 28, 2022 $ 2,338 $ 0 $ 2,608 $ 3,127 $ (22) $ (3,376) $ 1
v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Cash flows provided by operating activities:    
Net income $ 463 $ 353
Depreciation, amortization, and other, net 524 493
Change in operating assets and liabilities, exclusive of net assets acquired (787) (760)
Net cash provided by operating activities 200 86
Cash flows used in investing activities:    
Acquisition of property, plant and equipment (704) (661)
Proceeds and advances from sale of property, plant and equipment 430 267
Cash paid for business and intangible asset acquisitions, net of cash (18) (49)
Other, net 0 (4)
Net cash used in investing activities (292) (447)
Cash flows used in financing activities:    
Borrowings under debt agreements 984 379
Payments toward debt agreements (1,038) (393)
Payments to acquire treasury stock (272) (132)
Dividends paid to stockholders (25) (26)
Net proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan 26 20
Treasury stock minimum tax withholding related to vesting of restricted stock (44) (21)
Other, net (12) (16)
Net cash used in financing activities (381) (189)
Effect of exchange rate changes on cash and cash equivalents (1) (6)
Net decrease in cash and cash equivalents (474) (556)
Cash and cash equivalents at beginning of period 1,567 1,394
Cash and cash equivalents at end of period $ 1,093 $ 838
v3.22.1
Basis of Presentation
 6 Months Ended
Feb. 28, 2022
Accounting Policies [Abstract]  
Basis of Presentation Basis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary to present fairly the information set forth therein have been included. Jabil Inc. (the “Company”) has made certain reclassification adjustments to conform prior periods’ Condensed Consolidated Financial Statements to the current presentation. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and footnotes included in the Annual Report on Form 10-K of Jabil Inc. (the “Company”) for the fiscal year ended August 31, 2021. Results for the six months ended February 28, 2022 are not necessarily an indication of the results that may be expected for the full fiscal year ending August 31, 2022.
v3.22.1
Trade Accounts Receivable Sale Programs
 6 Months Ended
Feb. 28, 2022
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, at a discount, 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.
As of February 28, 2022, the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase specific accounts receivable at any one time up to a: (i) maximum aggregate amount available of $2.0 billion under nine trade accounts receivable sale programs, (ii) maximum amount available of 400 million CNY under one trade accounts receivable sale program and (iii) maximum amount available of 100 million CHF under one trade accounts receivable sale program. The trade accounts receivable sale programs expire on various dates through 2025.
The Company continues servicing the receivables sold and in exchange receives a servicing fee under each of the trade accounts receivable sale programs. Servicing fees related to the trade accounts receivable sale programs recognized during the three months and six months ended February 28, 2022 and 2021 were not material. The Company does not record a servicing asset or liability on the Condensed 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.
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Trade accounts receivable sold(1)
 $ 1,966  $ 1,335  $ 3,934  $ 2,552 
Cash proceeds received $ 1,965  $ 1,334  $ 3,932  $ 2,550 
Pre-tax losses on sale of receivables(2)
 $ 1  $ 1  $ 2  $ 2 
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
(2)Recorded to other expense within the Condensed Consolidated Statement of Operations.
Asset-Backed Securitization ProgramCertain 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, a 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 terminated the foreign asset-backed securitization program on June 28, 2021.
The Company continues servicing the receivables sold and in exchange receives a servicing fee under the global asset-backed securitization program. Servicing fees related to the asset-backed securitization programs recognized during the three months and six months ended February 28, 2022 and 2021 were not material. The Company does not record a servicing asset or liability on the Condensed 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 Condensed 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 February 28, 2022.
The global asset-backed securitization program expires on November 25, 2024 and the maximum amount of net cash proceeds available at any one time is $600 million. As of February 28, 2022, the Company had no available liquidity under its global asset-backed securitization program.
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
Three months ended Six months ended
February 28, 2022
February 28, 2021(4)
 February 28, 2022
February 28, 2021(4)
Trade accounts receivable sold(1)
 $ 1,000  $ 1,140  $ 2,032  $ 2,313 
Cash proceeds received(2)
 $ 999  $ 1,137  $ 2,029  $ 2,308 
Pre-tax losses on sale of receivables(3)
 $ 1  $ 3  $ 3  $ 5 
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
(2)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(3)Recorded to other expense within the Condensed Consolidated Statements of Operations.
(4)Activity includes the foreign asset-backed securitization program which terminated on June 28, 2021.
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 February 28, 2022 and August 31, 2021, the Company was in compliance with all covenants under the global asset-backed securitization program.
v3.22.1
Inventories
 6 Months Ended
Feb. 28, 2022
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consist of the following (in millions):
February 28, 2022 August 31, 2021
Raw materials $ 4,247  $ 3,142 
Work in process 628  677 
Finished goods 608  680 
Reserve for excess and obsolete inventory (88) (85)
Inventories, net $ 5,395  $ 4,414 
v3.22.1
Leases
 6 Months Ended
Feb. 28, 2022
Leases [Abstract]  
Leases Leases
During fiscal year 2022, the Company entered into new operating and finance leases. The future minimum lease payments under these new leases as of February 28, 2022 were as follows (in millions):
Payments due by period (in millions)
  Total Less than 1
year		 1-3 years 3-5 years After 5 years
Operating lease obligations(1)
 $ 146  $ 26  $ 46  $ 36  $ 38 
Finance lease obligations(1)
 $ 59  $ 32  $ 26  $ 1  $ — 
(1)Excludes $28 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.
Leases Leases
During fiscal year 2022, the Company entered into new operating and finance leases. The future minimum lease payments under these new leases as of February 28, 2022 were as follows (in millions):
Payments due by period (in millions)
  Total Less than 1
year		 1-3 years 3-5 years After 5 years
Operating lease obligations(1)
 $ 146  $ 26  $ 46  $ 36  $ 38 
Finance lease obligations(1)
 $ 59  $ 32  $ 26  $ 1  $ — 
(1)Excludes $28 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.
v3.22.1
Notes Payable and Long-Term Debt
 6 Months Ended
Feb. 28, 2022
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt Notes Payable and Long-Term Debt
Notes payable and long-term debt outstanding as of February 28, 2022 and August 31, 2021 are summarized below (in millions): 
Maturity Date February 28, 2022 August 31, 2021
4.700% Senior Notes
 Sep 15, 2022 $ 500  $ 499 
4.900% Senior Notes
 Jul 14, 2023 300  300 
3.950% Senior Notes
 Jan 12, 2028 496  496 
3.600% Senior Notes
 Jan 15, 2030 496  495 
3.000% Senior Notes
 Jan 15, 2031 592  591 
1.700% Senior Notes
 Apr 15, 2026 496  496 
Borrowings under credit facilities(1)
 Jan 22, 2024 and Jan 22, 2026 —  — 
Borrowings under loans Jul 31, 2026 1  1 
Total notes payable and long-term debt 2,881  2,878 
Less current installments of notes payable and long-term debt
 501  — 
Notes payable and long-term debt, less current installments
 $ 2,380  $ 2,878 
(1)As of February 28, 2022, the Company has $3.8 billion in available unused borrowing capacity under its revolving credit facilities. The senior unsecured credit agreement dated as of January 22, 2020 and amended on April 28, 2021 (the “Credit Facility”) acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $3.2 billion under its commercial paper program, which was increased from $1.8 billion on February 18, 2022.
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 and the 4.900% Senior Notes contain debt leverage and interest coverage covenants. The Company is also subject to certain covenants requiring the Company to offer to repurchase the 4.700%, 4.900%, 3.950%, 3.600%, 3.000% or 1.700% Senior Notes upon a change of control. As of February 28, 2022 and August 31, 2021, the Company was in compliance with its debt covenants.
Fair Value
Refer to Note 15 – “Fair Value Measurements” for the estimated fair values of the Company’s notes payable and long-term debt.
v3.22.1
Asset-Backed Securitization Program
 6 Months Ended
Feb. 28, 2022
Transfers and Servicing [Abstract]  
Asset-Backed Securitization Program Trade Accounts Receivable Sale Programs
The Company regularly sells designated pools of high credit quality trade accounts receivable, at a discount, 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.
As of February 28, 2022, the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase specific accounts receivable at any one time up to a: (i) maximum aggregate amount available of $2.0 billion under nine trade accounts receivable sale programs, (ii) maximum amount available of 400 million CNY under one trade accounts receivable sale program and (iii) maximum amount available of 100 million CHF under one trade accounts receivable sale program. The trade accounts receivable sale programs expire on various dates through 2025.
The Company continues servicing the receivables sold and in exchange receives a servicing fee under each of the trade accounts receivable sale programs. Servicing fees related to the trade accounts receivable sale programs recognized during the three months and six months ended February 28, 2022 and 2021 were not material. The Company does not record a servicing asset or liability on the Condensed 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.
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Trade accounts receivable sold(1)
 $ 1,966  $ 1,335  $ 3,934  $ 2,552 
Cash proceeds received $ 1,965  $ 1,334  $ 3,932  $ 2,550 
Pre-tax losses on sale of receivables(2)
 $ 1  $ 1  $ 2  $ 2 
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
(2)Recorded to other expense within the Condensed Consolidated Statement of Operations.
Asset-Backed Securitization ProgramCertain 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, a 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 terminated the foreign asset-backed securitization program on June 28, 2021.
The Company continues servicing the receivables sold and in exchange receives a servicing fee under the global asset-backed securitization program. Servicing fees related to the asset-backed securitization programs recognized during the three months and six months ended February 28, 2022 and 2021 were not material. The Company does not record a servicing asset or liability on the Condensed 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 Condensed 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 February 28, 2022.
The global asset-backed securitization program expires on November 25, 2024 and the maximum amount of net cash proceeds available at any one time is $600 million. As of February 28, 2022, the Company had no available liquidity under its global asset-backed securitization program.
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
Three months ended Six months ended
February 28, 2022
February 28, 2021(4)
 February 28, 2022
February 28, 2021(4)
Trade accounts receivable sold(1)
 $ 1,000  $ 1,140  $ 2,032  $ 2,313 
Cash proceeds received(2)
 $ 999  $ 1,137  $ 2,029  $ 2,308 
Pre-tax losses on sale of receivables(3)
 $ 1  $ 3  $ 3  $ 5 
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
(2)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(3)Recorded to other expense within the Condensed Consolidated Statements of Operations.
(4)Activity includes the foreign asset-backed securitization program which terminated on June 28, 2021.
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 February 28, 2022 and August 31, 2021, the Company was in compliance with all covenants under the global asset-backed securitization program.
v3.22.1
Accrued Expenses
 6 Months Ended
Feb. 28, 2022
Accrued Liabilities, Current [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consist of the following (in millions):
February 28, 2022 August 31, 2021
Contract liabilities(1)
 $ 690  $ 559 
Accrued compensation and employee benefits 648  827 
Inventory deposits 1,161  711 
Other accrued expenses 1,732  1,637 
Accrued expenses $ 4,231  $ 3,734 
(1)Revenue recognized during the six months ended February 28, 2022 and 2021 that was included in the contract liability balance as of August 31, 2021 and 2020 was $196 million and $233 million, respectively.
v3.22.1
Postretirement and Other Employee Benefits
 6 Months Ended
Feb. 28, 2022
Retirement Benefits [Abstract]  
Postretirement and Other Employee Benefits Postretirement and Other Employee Benefits
Net Periodic Benefit Cost
The following table provides information about the net periodic benefit cost for all plans for the three months and six months ended February 28, 2022 and 2021 (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Service cost (1)
 $ 6  $ 8  $ 12  $ 13 
Interest cost (2)
 1  1  2  2 
Expected long-term return on plan assets (2)
 (4) (5) (8) (8)
Recognized actuarial gain (2)
 (3) (2) (6) (3)
Amortization of actuarial gain (2)(3)
 (2) (1) (4) (3)
Amortization of prior service cost (2)
 1  —  2  — 
Net periodic benefit cost $ (1) $ 1  $ (2) $ 1 
(1)Service cost is recognized in cost of revenue in the Condensed Consolidated Statement of Operations.
(2)Components are recognized in other expense in the Condensed Consolidated Statement 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.
v3.22.1
Derivative Financial Instruments and Hedging Activities
 6 Months Ended
Feb. 28, 2022
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.
Foreign Currency Risk Management
Forward contracts are put in place to manage the foreign currency risk associated with the anticipated foreign currency denominated revenues and expenses. A hedging relationship existed with an aggregate notional amount outstanding of $1.2 billion and $1.5 billion as of February 28, 2022 and August 31, 2021, respectively. The related forward foreign exchange contracts have been designated as hedging instruments and are accounted for as cash flow hedges. The forward foreign exchange contract transactions will effectively lock in the value of anticipated foreign currency denominated revenues and expenses against foreign currency fluctuations. The anticipated foreign currency denominated revenues and expenses being hedged are expected to occur between March 1, 2022 and February 28, 2023.
In addition to derivatives that are designated as hedging instruments and qualify for hedge accounting, the Company also enters into forward 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 aggregate notional amount of these outstanding contracts as of February 28, 2022 and August 31, 2021, was $3.0 billion and $3.6 billion, respectively.

Refer to Note 15 – “Fair Value Measurements” for the fair values and classification of the Company’s derivative instruments.
The gains and losses recognized in earnings due to amounts excluded from effectiveness testing were not material for all periods presented and 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 following table presents the gains from forward contracts recorded in the Condensed Consolidated Statements of Operations for the periods indicated (in millions):
Derivatives Not Designated as Hedging Instruments Under ASC 815 Location of Gain on Derivatives Recognized in Net Income Amount of Gain Recognized in Net Income on Derivatives
Three months ended Six months ended
February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Forward foreign exchange contracts(1)
 Cost of revenue $ 22  $ 36  $ 60  $ 120 
(1)For the three months and six months ended February 28, 2022, the Company recognized $9 million and $37 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts. For the three months and six months ended February 28, 2021, the Company recognized $26
million and $99 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts.
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.
Cash Flow Hedges
The following table presents the interest rate swaps outstanding as of February 28, 2022, which have been designated as hedging instruments and are accounted for as cash flow hedges:
Interest Rate Swap Summary Hedged Interest Rate Payments Aggregate Notional Amount (in millions) Effective Date
Expiration Date (2)
Forward Interest Rate Swap (1)
Anticipated Debt Issuance Fixed $ 250  November 2, 2020 July 31, 2024
(3)
Anticipated Debt Issuance Fixed $ 150  May 24, 2021 July 31, 2024
(3)
(1)During March 2022, the Company entered into new cash flow hedges. These cash flow hedges have an aggregate notional amount totaling $170 million and are related to an anticipated debt issuance.
(2)The contracts will be settled with the respective counterparties on a net basis at the expiration date for the forward interest rate swap.
(3)If the anticipated debt issuance occurs before July 31, 2024, the contracts will be terminated simultaneously with the debt issuance.
Contemporaneously with the issuance of our 3.000% Notes in July 2020, the Company amended interest rate swap agreements with a notional value of $200.0 million, with mandatory termination dates from August 15, 2020 to 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 Condensed Consolidated Statements of Operations through the maturity date of February 15, 2022, as an adjustment to interest expense.
v3.22.1
Accumulated Other Comprehensive Income
 6 Months Ended
Feb. 28, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income
The following table sets forth the changes in accumulated other comprehensive income (“AOCI”), net of tax, by component for the six months ended February 28, 2022 (in millions):
Foreign
Currency
Translation
Adjustment		 Derivative
Instruments		 Actuarial
Gain (Loss)		 Prior
Service (Cost) Credit		 Total
Balance as of August 31, 2021
 $ (20) $ (36) $ 51  $ (20) $ (25)
Other comprehensive (loss) income before reclassifications (11) 25  —  —  14 
Amounts reclassified from AOCI —  (3) (10) 2  (11)
Other comprehensive (loss) income(1)
 (11) 22  (10) 2  3 
Balance as of February 28, 2022
 $ (31) $ (14) $ 41  $ (18) $ (22)
(1)Amounts are net of tax, which are immaterial.

The following table sets forth the amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):
  Three months ended Six months ended
Comprehensive Income Components Financial Statement Line Item February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Realized (gains) losses on derivative instruments:(1)
Foreign exchange contracts Cost of revenue $ (6) $ (22) $ (5) $ (39)
Interest rate contracts Interest expense 1  1  2  2 
Actuarial gain
(2)
 (5) —  (10) — 
Prior service cost
(2)
 1  —  2  — 
Total amounts reclassified from AOCI(3)
 $ (9) $ (21) $ (11) $ (37)
(1)The Company expects to reclassify $10 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.
(2)Amounts are included in the computation of net periodic benefit pension cost. Refer to Note 8 – “Postretirement and Other Employee Benefits” for additional information.
(3)Amounts are net of tax, which are immaterial for the three months and six months ended February 28, 2022 and 2021.
v3.22.1
Stockholders' Equity
 6 Months Ended
Feb. 28, 2022
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):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Restricted stock units
 $ 12  $ 20  $ 44  $ 52 
Employee stock purchase plan 4  3  7  5 
Total $ 16  $ 23  $ 51  $ 57 
As of February 28, 2022, the shares available to be issued under the 2021 Equity Incentive Plan were 9,894,144.
Restricted Stock Units
Certain key employees have been granted time-based, performance-based and market-based restricted stock unit awards (“restricted stock units”). The time-based restricted stock units 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. During the six months ended February 28, 2022 and 2021, the Company awarded approximately 0.7 million and 1.2 million time-based restricted stock units, respectively, 0.2 million and 0.4 million performance-based restricted stock units, respectively, and 0.2 million and 0.3 million market-based restricted stock units, respectively.
The following represents the stock-based compensation information as of the period indicated (in millions):
  February 28, 2022
Unrecognized stock-based compensation expense—restricted stock units $ 56 
Remaining weighted-average period for restricted stock units expense 1.5 years
Common Stock Outstanding
The following represents the common stock outstanding for the periods indicated:
Three months ended Six months ended
February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Common stock outstanding:
Beginning balances
 144,166,009  150,471,570  144,496,077  150,330,358 
Shares issued under employee stock purchase plan
 520,483  771,548  520,483  771,548 
Vesting of restricted stock
 28,243  24,054  2,453,715  2,241,136 
Purchases of treasury stock under employee stock plans
 (9,719) (8,873) (700,274) (610,279)
Treasury shares purchased(1)
 (2,312,881) (1,891,798) (4,377,866) (3,366,262)
Ending balances
 142,392,135  149,366,501  142,392,135  149,366,501 
(1)In July 2021, the Board of Directors approved an authorization for the repurchase of up to $1.0 billion of the Company’s common stock (the “2022 Share Repurchase Program”). As of February 28, 2022, 5.1 million shares had been repurchased for $314 million and $686 million remains available under the 2022 Share Repurchase Program.
v3.22.1
Concentration of Risk and Segment Data
 6 Months Ended
Feb. 28, 2022
Segment Reporting [Abstract]  
Concentration of Risk and Segment Data Concentration of Risk and Segment Data
Concentration of Risk
Sales of the Company’s products are concentrated among specific customers. During the six months ended February 28, 2022, the Company’s five largest customers accounted for approximately 47% of its net revenue and 78 customers accounted for approximately 90% of its net revenue. Sales to these customers were reported in the Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”) operating segments.
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
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. Certain items are excluded from the calculation of segment income. Transactions between operating segments are generally recorded at amounts that approximate those at which we would transact with third parties.
The following table sets forth operating segment information (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Segment income and reconciliation of income before income tax
EMS $ 152  $ 98  $ 299  $ 220 
DMS 192  187  445  430 
Total segment income $ 344  $ 285  $ 744  $ 650 
Reconciling items:
Amortization of intangibles (8) (12) (16) (23)
Stock-based compensation expense and related charges (16) (23) (51) (57)
Restructuring, severance and related charges —  (6) —  (5)
Business interruption and impairment charges, net —  1  —  1 
Acquisition and integration charges —  (2) —  (4)
Other expense (net of periodic benefit cost) (3) (5) (11) (9)
Interest income —  2  1  4 
Interest expense (33) (31) (66) (63)
Income before income tax $ 284  $ 209  $ 601  $ 494 
 
The following table presents the Company’s revenues disaggregated by segment (in millions):
Three months ended
February 28, 2022 February 28, 2021
EMS DMS Total EMS DMS Total
Timing of transfer
Point in time $ 1,327  $ 1,418  $ 2,745  $ 819  $ 1,782  $ 2,601 
Over time 2,447  2,361  4,808  2,360  1,867  4,227 
Total $ 3,774  $ 3,779  $ 7,553  $ 3,179  $ 3,649  $ 6,828 
Six months ended
February 28, 2022 February 28, 2021
EMS DMS Total EMS DMS Total
Timing of transfer
Point in time $ 2,734  $ 3,788  $ 6,522  $ 1,876  $ 4,022  $ 5,898 
Over time 4,898  4,700  9,598  4,896  3,867  8,763 
Total $ 7,632  $ 8,488  $ 16,120  $ 6,772  $ 7,889  $ 14,661 


The Company operates in more than 30 countries worldwide. Sales to unaffiliated customers are based on the Company location that maintains the customer relationship and transacts the external sale. The following table sets forth, for the periods indicated, foreign source revenue expressed as a percentage of net revenue:
Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Foreign source revenue 83.5  % 84.7  % 84.2  % 84.1  %
v3.22.1
Income Taxes
 6 Months Ended
Feb. 28, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Effective Income Tax Rate
The U.S. federal statutory income tax rate and the Company's effective income tax rate are as follows:
Three months ended Six months ended
February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
U.S. federal statutory income tax rate 21.0  % 21.0  % 21.0  % 21.0  %
Effective income tax rate 21.7  % 26.9  % 22.8  % 28.5  %
The effective income tax rate decreased for the three months and six months ended February 28, 2022, compared to the three months and six months ended February 28, 2021, primarily due to decreased losses in tax jurisdictions with existing valuation allowances for the three months and six months ended February 28, 2022.
The effective income tax rate differed from the U.S. federal statutory income tax rate of 21.0% during the three months and six months ended February 28, 2022 and 2021, primarily due to: (i) losses in tax jurisdictions with existing valuation allowances and (ii) tax incentives granted to sites in China, Malaysia, Singapore and Vietnam.
v3.22.1
Earnings Per Share and Dividends
 6 Months Ended
Feb. 28, 2022
Earnings Per Share [Abstract]  
Earnings Per Share and Dividends Earnings Per Share and Dividends
Earnings Per Share
The Company calculates its basic earnings per share by dividing net income attributable to the Company by the weighted average number of common shares 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 criteria 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):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Restricted stock units 465.6  1,103.5  465.6  1,074.2 
Employee stock purchase plan —  —  —  1.9 
Dividends
The following table sets forth cash dividends declared by the Company to common stockholders during the six months ended February 28, 2022 and 2021 (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 2022: October 21, 2021 $ 0.08  $ 12  November 15, 2021 December 1, 2021
January 20, 2022 $ 0.08  $ 12  February 15, 2022 March 2, 2022
Fiscal Year 2021: October 15, 2020 $ 0.08  $ 12  November 16, 2020 December 2, 2020
January 21, 2021 $ 0.08  $ 12  February 15, 2021 March 2, 2021
v3.22.1
Fair Value Measurements
 6 Months Ended
Feb. 28, 2022
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 Hierarchy February 28, 2022 August 31, 2021
Assets:
Cash and cash equivalents:
Cash equivalents Level 1
(1)
 $ 5  $ 36 
Prepaid expenses and other current assets:
Short-term investments Level 1 17  18 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(2)
 18  9 
Derivatives not designated as hedging instruments (Note 9)
 Level 2
(2)
 46  20 
Other assets:
Forward interest rate swap:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(3)
 15  9 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(2)
 $ 2  $ 6 
Derivatives not designated as hedging instruments (Note 9)
 Level 2
(2)
 9  9 
Interest rate swaps:
Derivatives not designated as hedging instruments (Note 9)
 Level 2
(3)
 —  3 
Extended interest rate swap not designated as a hedging instrument (Note 9)
 Level 2
(4)
 —  10 
Other liabilities:
Forward interest rate swap:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(3)
 3  7 
(1)Consist of investments that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts 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.
(3)Fair value measurements are based on the contractual terms of the derivatives and use observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads.
(4)The 2020 Extended Interest Rate Swaps were considered a hybrid instrument and the Company elected the fair value option for reporting. Fair value measurements were based on the contractual terms of the contract and used observable market-based inputs. The interest rate swaps were valued using a discounted cash flow analysis of the expected cash flows using observable inputs including interest rate curves and credit spreads.
Assets Held for Sale
The following table presents the assets held for sale:
February 28, 2022 August 31, 2021
(in millions) Carrying Amount Carrying Amount
Assets held for sale (1)
 $ 31  $ 61 
(1)During the three months ended February 28, 2022, the Company sold assets held for sale with a carrying value of $30 million. As of February 28, 2022 and August 31, 2021, the carrying value of $31 million of assets held for sale approximates the fair value with the asset values measured using Level 2 inputs.
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 values 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:
February 28, 2022 August 31, 2021
(in millions) Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value
Notes payable and long-term debt: (Note 5)
4.700% Senior Notes
Level 2
(1)
 $ 500  $ 509  $ 499  $ 521 
4.900% Senior Notes
Level 3
(2)
 $ 300  $ 311  $ 300  $ 322 
3.950% Senior Notes
Level 2
(1)
 $ 496  $ 522  $ 496  $ 555 
3.600% Senior Notes
 Level 2
(1)
 $ 496  $ 507  $ 495  $ 541 
3.000% Senior Notes
 Level 2
(1)
 $ 592  $ 576  $ 591  $ 618 
1.700% Senior Notes
 Level 2
(1)
 $ 496  $ 483  $ 496  $ 504 
(1)The fair value estimates are based upon observable market data.
(2)This fair value estimate is based on the Company’s indicative borrowing cost derived from discounted cash flows.
v3.22.1
Commitments and Contingencies
 6 Months Ended
Feb. 28, 2022
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.
v3.22.1
New Accounting Guidance
 6 Months Ended
Feb. 28, 2022
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.
v3.22.1
New Accounting Guidance (Policies)
 6 Months Ended
Feb. 28, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]  
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.
v3.22.1
Trade Accounts Receivable Sale Programs (Tables)
 6 Months Ended
Feb. 28, 2022
Transfers and Servicing [Abstract]  
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):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Trade accounts receivable sold(1)
 $ 1,966  $ 1,335  $ 3,934  $ 2,552 
Cash proceeds received $ 1,965  $ 1,334  $ 3,932  $ 2,550 
Pre-tax losses on sale of receivables(2)
 $ 1  $ 1  $ 2  $ 2 
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
(2)Recorded to other expense within the Condensed Consolidated Statement of Operations.
v3.22.1
Inventories (Tables)
 6 Months Ended
Feb. 28, 2022
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consist of the following (in millions):
February 28, 2022 August 31, 2021
Raw materials $ 4,247  $ 3,142 
Work in process 628  677 
Finished goods 608  680 
Reserve for excess and obsolete inventory (88) (85)
Inventories, net $ 5,395  $ 4,414 
v3.22.1
Leases (Tables)
 6 Months Ended
Feb. 28, 2022
Leases [Abstract]  
Schedule of Future Minimum Lease Payments under Operating Leases The future minimum lease payments under these new leases as of February 28, 2022 were as follows (in millions):
Payments due by period (in millions)
  Total Less than 1
year		 1-3 years 3-5 years After 5 years
Operating lease obligations(1)
 $ 146  $ 26  $ 46  $ 36  $ 38 
Finance lease obligations(1)
 $ 59  $ 32  $ 26  $ 1  $ — 
(1)Excludes $28 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.
Schedule of Future Minimum Lease Payments under Finance Leases The future minimum lease payments under these new leases as of February 28, 2022 were as follows (in millions):
Payments due by period (in millions)
  Total Less than 1
year		 1-3 years 3-5 years After 5 years
Operating lease obligations(1)
 $ 146  $ 26  $ 46  $ 36  $ 38 
Finance lease obligations(1)
 $ 59  $ 32  $ 26  $ 1  $ — 
(1)Excludes $28 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.
v3.22.1
Notes Payable and Long-Term Debt (Tables)
 6 Months Ended
Feb. 28, 2022
Debt Disclosure [Abstract]  
Schedule of Notes Payable and Long-term Debt
Notes payable and long-term debt outstanding as of February 28, 2022 and August 31, 2021 are summarized below (in millions): 
Maturity Date February 28, 2022 August 31, 2021
4.700% Senior Notes
 Sep 15, 2022 $ 500  $ 499 
4.900% Senior Notes
 Jul 14, 2023 300  300 
3.950% Senior Notes
 Jan 12, 2028 496  496 
3.600% Senior Notes
 Jan 15, 2030 496  495 
3.000% Senior Notes
 Jan 15, 2031 592  591 
1.700% Senior Notes
 Apr 15, 2026 496  496 
Borrowings under credit facilities(1)
 Jan 22, 2024 and Jan 22, 2026 —  — 
Borrowings under loans Jul 31, 2026 1  1 
Total notes payable and long-term debt 2,881  2,878 
Less current installments of notes payable and long-term debt
 501  — 
Notes payable and long-term debt, less current installments
 $ 2,380  $ 2,878 
(1)As of February 28, 2022, the Company has $3.8 billion in available unused borrowing capacity under its revolving credit facilities. The senior unsecured credit agreement dated as of January 22, 2020 and amended on April 28, 2021 (the “Credit Facility”) acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $3.2 billion under its commercial paper program, which was increased from $1.8 billion on February 18, 2022.
v3.22.1
Asset-Backed Securitization Program (Tables)
 6 Months Ended
Feb. 28, 2022
Transfers and Servicing [Abstract]  
Schedule of Asset-backed Securitization Programs Amounts Recognized
In connection with the asset-backed securitization programs, the Company recognized the following (in millions):
Three months ended Six months ended
February 28, 2022
February 28, 2021(4)
 February 28, 2022
February 28, 2021(4)
Trade accounts receivable sold(1)
 $ 1,000  $ 1,140  $ 2,032  $ 2,313 
Cash proceeds received(2)
 $ 999  $ 1,137  $ 2,029  $ 2,308 
Pre-tax losses on sale of receivables(3)
 $ 1  $ 3  $ 3  $ 5 
(1)Receivables sold are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
(2)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(3)Recorded to other expense within the Condensed Consolidated Statements of Operations.
(4)Activity includes the foreign asset-backed securitization program which terminated on June 28, 2021.
v3.22.1
Accrued Expenses (Tables)
 6 Months Ended
Feb. 28, 2022
Accrued Liabilities, Current [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consist of the following (in millions):
February 28, 2022 August 31, 2021
Contract liabilities(1)
 $ 690  $ 559 
Accrued compensation and employee benefits 648  827 
Inventory deposits 1,161  711 
Other accrued expenses 1,732  1,637 
Accrued expenses $ 4,231  $ 3,734 
(1)Revenue recognized during the six months ended February 28, 2022 and 2021 that was included in the contract liability balance as of August 31, 2021 and 2020 was $196 million and $233 million, respectively.
v3.22.1
Postretirement and Other Employee Benefits (Tables)
 6 Months Ended
Feb. 28, 2022
Retirement Benefits [Abstract]  
Schedule of Information about Net Periodic Benefit Cost for Plans The following table provides information about the net periodic benefit cost for all plans for the three months and six months ended February 28, 2022 and 2021 (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Service cost (1)
 $ 6  $ 8  $ 12  $ 13 
Interest cost (2)
 1  1  2  2 
Expected long-term return on plan assets (2)
 (4) (5) (8) (8)
Recognized actuarial gain (2)
 (3) (2) (6) (3)
Amortization of actuarial gain (2)(3)
 (2) (1) (4) (3)
Amortization of prior service cost (2)
 1  —  2  — 
Net periodic benefit cost $ (1) $ 1  $ (2) $ 1 
(1)Service cost is recognized in cost of revenue in the Condensed Consolidated Statement of Operations.
(2)Components are recognized in other expense in the Condensed Consolidated Statement 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.
v3.22.1
Derivative Financial Instruments and Hedging Activities (Tables)
 6 Months Ended
Feb. 28, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Net Gains from Forward Contracts Recorded in Consolidated Statements of Operations
The following table presents the gains from forward contracts recorded in the Condensed Consolidated Statements of Operations for the periods indicated (in millions):
Derivatives Not Designated as Hedging Instruments Under ASC 815 Location of Gain on Derivatives Recognized in Net Income Amount of Gain Recognized in Net Income on Derivatives
Three months ended Six months ended
February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Forward foreign exchange contracts(1)
 Cost of revenue $ 22  $ 36  $ 60  $ 120 
(1)For the three months and six months ended February 28, 2022, the Company recognized $9 million and $37 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts. For the three months and six months ended February 28, 2021, the Company recognized $26
million and $99 million, respectively, of foreign currency losses in cost of revenue, which are offset by the gains from the forward foreign exchange contracts.
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the interest rate swaps outstanding as of February 28, 2022, which have been designated as hedging instruments and are accounted for as cash flow hedges:
Interest Rate Swap Summary Hedged Interest Rate Payments Aggregate Notional Amount (in millions) Effective Date
Expiration Date (2)
Forward Interest Rate Swap (1)
Anticipated Debt Issuance Fixed $ 250  November 2, 2020 July 31, 2024
(3)
Anticipated Debt Issuance Fixed $ 150  May 24, 2021 July 31, 2024
(3)
(1)During March 2022, the Company entered into new cash flow hedges. These cash flow hedges have an aggregate notional amount totaling $170 million and are related to an anticipated debt issuance.
(2)The contracts will be settled with the respective counterparties on a net basis at the expiration date for the forward interest rate swap.
(3)If the anticipated debt issuance occurs before July 31, 2024, the contracts will be terminated simultaneously with the debt issuance.
v3.22.1
Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Feb. 28, 2022
Equity [Abstract]  
Summary of Changes in Accumulated Other Comprehensive (Loss) Income
The following table sets forth the changes in accumulated other comprehensive income (“AOCI”), net of tax, by component for the six months ended February 28, 2022 (in millions):
Foreign
Currency
Translation
Adjustment		 Derivative
Instruments		 Actuarial
Gain (Loss)		 Prior
Service (Cost) Credit		 Total
Balance as of August 31, 2021
 $ (20) $ (36) $ 51  $ (20) $ (25)
Other comprehensive (loss) income before reclassifications (11) 25  —  —  14 
Amounts reclassified from AOCI —  (3) (10) 2  (11)
Other comprehensive (loss) income(1)
 (11) 22  (10) 2  3 
Balance as of February 28, 2022
 $ (31) $ (14) $ 41  $ (18) $ (22)
(1)Amounts are net of tax, which are immaterial.
Summary of Reclassification from AOCI The following table sets forth the amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):
  Three months ended Six months ended
Comprehensive Income Components Financial Statement Line Item February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Realized (gains) losses on derivative instruments:(1)
Foreign exchange contracts Cost of revenue $ (6) $ (22) $ (5) $ (39)
Interest rate contracts Interest expense 1  1  2  2 
Actuarial gain
(2)
 (5) —  (10) — 
Prior service cost
(2)
 1  —  2  — 
Total amounts reclassified from AOCI(3)
 $ (9) $ (21) $ (11) $ (37)
(1)The Company expects to reclassify $10 million into earnings during the next twelve months, which will primarily be classified as a component of cost of revenue.
(2)Amounts are included in the computation of net periodic benefit pension cost. Refer to Note 8 – “Postretirement and Other Employee Benefits” for additional information.
(3)Amounts are net of tax, which are immaterial for the three months and six months ended February 28, 2022 and 2021.
v3.22.1
Stockholders' Equity (Tables)
 6 Months Ended
Feb. 28, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Recognized Stock-based Compensation Expense
The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Restricted stock units
 $ 12  $ 20  $ 44  $ 52 
Employee stock purchase plan 4  3  7  5 
Total $ 16  $ 23  $ 51  $ 57 
Schedule of Share-based Compensation Information
The following represents the stock-based compensation information as of the period indicated (in millions):
  February 28, 2022
Unrecognized stock-based compensation expense—restricted stock units $ 56 
Remaining weighted-average period for restricted stock units expense 1.5 years
Schedule of Common Stock Outstanding The following represents the common stock outstanding for the periods indicated:
Three months ended Six months ended
February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Common stock outstanding:
Beginning balances
 144,166,009  150,471,570  144,496,077  150,330,358 
Shares issued under employee stock purchase plan
 520,483  771,548  520,483  771,548 
Vesting of restricted stock
 28,243  24,054  2,453,715  2,241,136 
Purchases of treasury stock under employee stock plans
 (9,719) (8,873) (700,274) (610,279)
Treasury shares purchased(1)
 (2,312,881) (1,891,798) (4,377,866) (3,366,262)
Ending balances
 142,392,135  149,366,501  142,392,135  149,366,501 
(1)In July 2021, the Board of Directors approved an authorization for the repurchase of up to $1.0 billion of the Company’s common stock (the “2022 Share Repurchase Program”). As of February 28, 2022, 5.1 million shares had been repurchased for $314 million and $686 million remains available under the 2022 Share Repurchase Program.
v3.22.1
Concentration of Risk and Segment Data (Tables)
 6 Months Ended
Feb. 28, 2022
Segment Reporting [Abstract]  
Schedule of Reconciliation of Income from Segments to Consolidated The following table sets forth operating segment information (in millions):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Segment income and reconciliation of income before income tax
EMS $ 152  $ 98  $ 299  $ 220 
DMS 192  187  445  430 
Total segment income $ 344  $ 285  $ 744  $ 650 
Reconciling items:
Amortization of intangibles (8) (12) (16) (23)
Stock-based compensation expense and related charges (16) (23) (51) (57)
Restructuring, severance and related charges —  (6) —  (5)
Business interruption and impairment charges, net —  1  —  1 
Acquisition and integration charges —  (2) —  (4)
Other expense (net of periodic benefit cost) (3) (5) (11) (9)
Interest income —  2  1  4 
Interest expense (33) (31) (66) (63)
Income before income tax $ 284  $ 209  $ 601  $ 494 
Schedule of Revenues Disaggregated by Segment
The following table presents the Company’s revenues disaggregated by segment (in millions):
Three months ended
February 28, 2022 February 28, 2021
EMS DMS Total EMS DMS Total
Timing of transfer
Point in time $ 1,327  $ 1,418  $ 2,745  $ 819  $ 1,782  $ 2,601 
Over time 2,447  2,361  4,808  2,360  1,867  4,227 
Total $ 3,774  $ 3,779  $ 7,553  $ 3,179  $ 3,649  $ 6,828 
Six months ended
February 28, 2022 February 28, 2021
EMS DMS Total EMS DMS Total
Timing of transfer
Point in time $ 2,734  $ 3,788  $ 6,522  $ 1,876  $ 4,022  $ 5,898 
Over time 4,898  4,700  9,598  4,896  3,867  8,763 
Total $ 7,632  $ 8,488  $ 16,120  $ 6,772  $ 7,889  $ 14,661 
Schedule of Revenue from External Customers by Geographic Areas The following table sets forth, for the periods indicated, foreign source revenue expressed as a percentage of net revenue:
Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Foreign source revenue 83.5  % 84.7  % 84.2  % 84.1  %
v3.22.1
Income Taxes (Tables)
 6 Months Ended
Feb. 28, 2022
Income Tax Disclosure [Abstract]  
Summary of U.S. Federal Statutory Income Tax Rate Compared to Actual Income Tax Expense The U.S. federal statutory income tax rate and the Company's effective income tax rate are as follows:
Three months ended Six months ended
February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
U.S. federal statutory income tax rate 21.0  % 21.0  % 21.0  % 21.0  %
Effective income tax rate 21.7  % 26.9  % 22.8  % 28.5  %
v3.22.1
Earnings Per Share and Dividends (Tables)
 6 Months Ended
Feb. 28, 2022
Earnings Per Share [Abstract]  
Schedule of Dilutive Shares Outstanding Not Included in the Computation of EPS 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):
  Three months ended Six months ended
  February 28, 2022 February 28, 2021 February 28, 2022 February 28, 2021
Restricted stock units 465.6  1,103.5  465.6  1,074.2 
Employee stock purchase plan —  —  —  1.9 
Schedule of Cash Dividends Declared to Common Stockholders
The following table sets forth cash dividends declared by the Company to common stockholders during the six months ended February 28, 2022 and 2021 (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 2022: October 21, 2021 $ 0.08  $ 12  November 15, 2021 December 1, 2021
January 20, 2022 $ 0.08  $ 12  February 15, 2022 March 2, 2022
Fiscal Year 2021: October 15, 2020 $ 0.08  $ 12  November 16, 2020 December 2, 2020
January 21, 2021 $ 0.08  $ 12  February 15, 2021 March 2, 2021
v3.22.1
Fair Value Measurements (Tables)
 6 Months Ended
Feb. 28, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities 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 Hierarchy February 28, 2022 August 31, 2021
Assets:
Cash and cash equivalents:
Cash equivalents Level 1
(1)
 $ 5  $ 36 
Prepaid expenses and other current assets:
Short-term investments Level 1 17  18 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(2)
 18  9 
Derivatives not designated as hedging instruments (Note 9)
 Level 2
(2)
 46  20 
Other assets:
Forward interest rate swap:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(3)
 15  9 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(2)
 $ 2  $ 6 
Derivatives not designated as hedging instruments (Note 9)
 Level 2
(2)
 9  9 
Interest rate swaps:
Derivatives not designated as hedging instruments (Note 9)
 Level 2
(3)
 —  3 
Extended interest rate swap not designated as a hedging instrument (Note 9)
 Level 2
(4)
 —  10 
Other liabilities:
Forward interest rate swap:
Derivatives designated as hedging instruments (Note 9)
 Level 2
(3)
 3  7 
(1)Consist of investments that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts 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.
(3)Fair value measurements are based on the contractual terms of the derivatives and use observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads.
(4)The 2020 Extended Interest Rate Swaps were considered a hybrid instrument and the Company elected the fair value option for reporting. Fair value measurements were based on the contractual terms of the contract and used observable market-based inputs. The interest rate swaps were valued using a discounted cash flow analysis of the expected cash flows using observable inputs including interest rate curves and credit spreads.
Schedule of Assets Held for Sale
The following table presents the assets held for sale:
February 28, 2022 August 31, 2021
(in millions) Carrying Amount Carrying Amount
Assets held for sale (1)
 $ 31  $ 61 
(1)During the three months ended February 28, 2022, the Company sold assets held for sale with a carrying value of $30 million. As of February 28, 2022 and August 31, 2021, the carrying value of $31 million of assets held for sale approximates the fair value with the asset values measured using Level 2 inputs.
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:
February 28, 2022 August 31, 2021
(in millions) Fair Value Hierarchy Carrying Amount Fair Value Carrying Amount Fair Value
Notes payable and long-term debt: (Note 5)
4.700% Senior Notes
Level 2
(1)
 $ 500  $ 509  $ 499  $ 521 
4.900% Senior Notes
Level 3
(2)
 $ 300  $ 311  $ 300  $ 322 
3.950% Senior Notes
Level 2
(1)
 $ 496  $ 522  $ 496  $ 555 
3.600% Senior Notes
 Level 2
(1)
 $ 496  $ 507  $ 495  $ 541 
3.000% Senior Notes
 Level 2
(1)
 $ 592  $ 576  $ 591  $ 618 
1.700% Senior Notes
 Level 2
(1)
 $ 496  $ 483  $ 496  $ 504 
(1)The fair value estimates are based upon observable market data.
(2)This fair value estimate is based on the Company’s indicative borrowing cost derived from discounted cash flows.
v3.22.1
Trade Accounts Receivable Sale Programs (Additional Information) (Details) - 6 months ended Feb. 28, 2022
USD ($)
program
CNY (¥)
CHF (SFr)
USD      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | $ $ 2,000,000,000    
Number of programs 9    
CNY      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | ¥   ¥ 400,000,000  
Number of programs 1    
CHF      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | SFr     SFr 100,000,000
Number of programs 1    
v3.22.1
Trade Accounts Receivable Sale Programs (Trade Accounts Receivable Sale Programs Amounts Recognized) (Details) - Trade Accounts Receivable Sale Programs - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Trade Accounts Receivable Securitization and Sale Program [Line Items]        
Trade accounts receivable sold $ 1,966 $ 1,335 $ 3,934 $ 2,552
Cash proceeds received 1,965 1,334 3,932 2,550
Pre-tax losses on sale of receivables $ 1 $ 1 $ 2 $ 2
v3.22.1
Inventories (Details) - USD ($)
$ in Millions
Feb. 28, 2022
Aug. 31, 2021
Inventory Disclosure [Abstract]    
Raw materials $ 4,247 $ 3,142
Work in process 628 677
Finished goods 608 680
Reserve for excess and obsolete inventory (88) (85)
Inventories, net $ 5,395 $ 4,414
v3.22.1
Leases (Future Minimum Lease Payments under Operating and Finance Leases) (Details)
$ in Millions
Feb. 28, 2022
USD ($)
Operating Leases  
Minimum lease payments $ 146
Less than 1 year 26
1-3 years 46
3-5 years 36
After 5 years 38
Finance Leases  
Minimum lease payments 59
Less than 1 year 32
1-3 years 26
3-5 years 1
After 5 years 0
Leases signed but not yet commenced $ 28
v3.22.1
Notes Payable and Long-Term Debt (Schedule of Notes Payable and Long-term Debt) (Details) - USD ($)
Feb. 28, 2022
Feb. 18, 2022
Feb. 17, 2022
Aug. 31, 2021
Debt Instrument [Line Items]        
Long-term debt $ 2,881,000,000     $ 2,878,000,000
Less current installments of notes payable and long-term debt 501,000,000     0
Notes payable and long-term debt, less current installments $ 2,380,000,000     2,878,000,000
Senior Notes | 4.700% Senior Notes        
Debt Instrument [Line Items]        
Senior notes, stated interest rate (as a percent) 4.70%      
Long-term debt $ 500,000,000     499,000,000
Senior Notes | 4.900% Senior Notes        
Debt Instrument [Line Items]        
Senior notes, stated interest rate (as a percent) 4.90%      
Long-term debt $ 300,000,000     300,000,000
Senior Notes | 3.950% Senior Notes        
Debt Instrument [Line Items]        
Senior notes, stated interest rate (as a percent) 3.95%      
Long-term debt $ 496,000,000     496,000,000
Senior Notes | 3.600% Senior Notes        
Debt Instrument [Line Items]        
Senior notes, stated interest rate (as a percent) 3.60%      
Long-term debt $ 496,000,000     495,000,000
Senior Notes | 3.000% Senior Notes        
Debt Instrument [Line Items]        
Senior notes, stated interest rate (as a percent) 3.00%      
Long-term debt $ 592,000,000     591,000,000
Senior Notes | 1.700% Senior Notes        
Debt Instrument [Line Items]        
Senior notes, stated interest rate (as a percent) 1.70%      
Long-term debt $ 496,000,000     496,000,000
Line of Credit | Revolving Credit Facility        
Debt Instrument [Line Items]        
Long-term debt 0     0
Unused borrowing capacity 3,800,000,000      
Line of Credit | Term Loan Facility        
Debt Instrument [Line Items]        
Long-term debt $ 1,000,000     $ 1,000,000
Line of Credit | Commercial Paper        
Debt Instrument [Line Items]        
Maximum borrowing capacity   $ 3,200,000,000 $ 1,800,000,000  
v3.22.1
Notes Payable and Long-Term Debt (Additional Information) (Details) - Senior Notes
Feb. 28, 2022
4.900% Senior Notes  
Debt Instrument [Line Items]  
Senior notes, stated interest rate (as a percent) 4.90%
4.700% Senior Notes  
Debt Instrument [Line Items]  
Senior notes, stated interest rate (as a percent) 4.70%
3.950% Senior Notes  
Debt Instrument [Line Items]  
Senior notes, stated interest rate (as a percent) 3.95%
3.600% Senior Notes  
Debt Instrument [Line Items]  
Senior notes, stated interest rate (as a percent) 3.60%
3.000% Senior Notes  
Debt Instrument [Line Items]  
Senior notes, stated interest rate (as a percent) 3.00%
1.700% Senior Notes  
Debt Instrument [Line Items]  
Senior notes, stated interest rate (as a percent) 1.70%
v3.22.1
Asset-Backed Securitization Program (Additional Information) (Details)
Feb. 28, 2022
USD ($)
Transfers and Servicing [Abstract]  
Maximum amount of net cash proceeds $ 600,000,000
Available liquidity under its asset-backed securitization programs (up to) $ 0
v3.22.1
Asset-Backed Securitization Program (Securitization Activity) (Details) - Asset-Backed Securitization Program - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Trade Accounts Receivable Securitization and Sale Program [Line Items]        
Trade accounts receivable sold $ 1,000 $ 1,140 $ 2,032 $ 2,313
Cash proceeds received 999 1,137 2,029 2,308
Pre-tax losses on sale of receivables $ 1 $ 3 $ 3 $ 5
v3.22.1
Accrued Expenses (Details) - USD ($)
$ in Millions
 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Aug. 31, 2021
Accrued Liabilities, Current [Abstract]      
Contract liabilities $ 690   $ 559
Accrued compensation and employee benefits 648   827
Inventory deposits 1,161   711
Other accrued expenses 1,732   1,637
Accrued expenses 4,231   $ 3,734
Revenue recognized during period that was included in contract liability balance $ 196 $ 233  
v3.22.1
Postretirement and Other Employee Benefits (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Aug. 31, 2021
Retirement Benefits [Abstract]          
Service cost $ 6 $ 8 $ 12 $ 13  
Interest cost 1 1 2 2  
Expected long-term return on plan assets (4) (5) (8) (8)  
Recognized actuarial gain (3) (2) (6) (3)  
Amortization of actuarial gains (2) (1) (4) (3)  
Amortization of prior service credit 1 0 2 0  
Net periodic benefit cost $ (1) $ 1 $ (2) $ 1  
Gain (loss) corridor 10.00%   10.00%   10.00%
v3.22.1
Derivative Financial Instruments and Hedging Activities (Additional Information) (Details) - USD ($)
Feb. 28, 2022
Aug. 31, 2021
3.000% Senior Notes | Senior Notes    
Derivative [Line Items]    
Senior notes, stated interest rate (as a percent) 3.00%  
Interest rate swaps | Cash flow hedging | 3.000% Senior Notes    
Derivative [Line Items]    
Aggregate notional amount $ 200,000,000  
Forward contracts | Cash flow hedging    
Derivative [Line Items]    
Aggregate notional amount 3,000,000,000 $ 3,600,000,000
Forward contracts | Forward foreign exchange contracts    
Derivative [Line Items]    
Aggregate notional amount $ 1,200,000,000 $ 1,500,000,000
v3.22.1
Derivative Financial Instruments and Hedging Activities (Fair Value of Derivative Instruments Recorded on Consolidated Statements of Operations) (Details) - Forward foreign exchange contracts - Cost of revenue - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Derivative Instruments, Gain (Loss) [Line Items]        
Amount of Gain Recognized in Net Income on Derivatives $ 22 $ 36 $ 60 $ 120
Foreign currency losses $ 9 $ 26 $ 37 $ 99
v3.22.1
Derivative Financial Instruments and Hedging Activities (Cash Flow Hedges) (Details) - Cash flow hedging - Forward contracts - USD ($)
Mar. 31, 2022
Feb. 28, 2022
Aug. 31, 2021
Derivative [Line Items]      
Aggregate notional amount   $ 3,000,000,000 $ 3,600,000,000
Interest rate swaps | Debt obligation one      
Derivative [Line Items]      
Aggregate notional amount   250,000,000  
Interest rate swaps | Debt obligation one | Subsequent event      
Derivative [Line Items]      
Aggregate notional amount $ 170,000,000    
Interest rate swaps | Debt obligation two      
Derivative [Line Items]      
Aggregate notional amount   $ 150,000,000  
v3.22.1
Accumulated Other Comprehensive Income (Change in AOCI, Net of Tax) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning Balance $ 2,207 $ 1,994 $ 2,137 $ 1,825
Other comprehensive (loss) income before reclassifications     14  
Amounts reclassified from AOCI     (11)  
Total other comprehensive income 26 10 3 30
Ending Balance 2,338 2,102 2,338 2,102
Foreign Currency Translation Adjustment        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning Balance     (20)  
Other comprehensive (loss) income before reclassifications     (11)  
Amounts reclassified from AOCI     0  
Total other comprehensive income     (11)  
Ending Balance (31)   (31)  
Derivative Instruments        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning Balance     (36)  
Other comprehensive (loss) income before reclassifications     25  
Amounts reclassified from AOCI     (3)  
Total other comprehensive income     22  
Ending Balance (14)   (14)  
Actuarial Gain (Loss)        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning Balance     51  
Other comprehensive (loss) income before reclassifications     0  
Amounts reclassified from AOCI     (10)  
Total other comprehensive income     (10)  
Ending Balance 41   41  
Prior Service (Cost) Credit        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning Balance     (20)  
Other comprehensive (loss) income before reclassifications     0  
Amounts reclassified from AOCI     2  
Total other comprehensive income     2  
Ending Balance (18)   (18)  
AOCI Attributable to Parent        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning Balance (48) (14) (25) (34)
Total other comprehensive income 26 10 3 30
Ending Balance $ (22) $ (4) $ (22) $ (4)
v3.22.1
Accumulated Other Comprehensive Income (Reclassification from AOCI) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Cost of revenue $ 6,944 $ 6,259 $ 14,836 $ 13,457
Interest expense 33 31 66 63
Other expense (income) (4) (2) (3) (3)
Total amounts reclassified from AOCI (222) (152) (463) (352)
Loss to be reclassified in next 12 months     10  
Reclassification out of AOCI        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Total amounts reclassified from AOCI (9) (21) (11) (37)
Reclassification out of AOCI | Realized losses (gain) on derivative instruments | Foreign exchange contracts        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Cost of revenue (6) (22) (5) (39)
Reclassification out of AOCI | Realized losses (gain) on derivative instruments | Interest rate contracts        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Interest expense 1 1 2 2
Reclassification out of AOCI | Actuarial gain        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Other expense (income) (5) 0 (10) 0
Reclassification out of AOCI | Prior service cost        
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]        
Other expense (income) $ 1 $ 0 $ 2 $ 0
v3.22.1
Stockholders' Equity (Recognized Stock-Based Compensation) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense $ 16 $ 23 $ 51 $ 57
Restricted stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense 12 20 44 52
Employee stock purchase plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation expense $ 4 $ 3 $ 7 $ 5
v3.22.1
Stockholders' Equity (Additional Information) (Details) - shares
 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Time-based restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting period 3 years  
Restricted stock units awarded (in shares) 700,000 1,200,000
Performance-based restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting period 3 years  
Restricted stock units awarded (in shares) 200,000 400,000
Performance-based restricted stock units | Maximum    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting percentage 150.00%  
Market-based restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting period 3 years  
Restricted stock units awarded (in shares) 200,000 300,000
Market-based restricted stock units | Maximum    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award vesting percentage 200.00%  
2021 Equity Incentive Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of shares available to be issued 9,894,144  
v3.22.1
Stockholders' Equity (Stock-based Compensation Information) (Details)
$ in Millions
 6 Months Ended
Feb. 28, 2022
USD ($)
Share-based Payment Arrangement [Abstract]  
Unrecognized stock-based compensation expense—restricted stock units $ 56
Remaining weighted-average period for restricted stock units expense 1 year 6 months
v3.22.1
Stockholders' Equity (Common Stock Outstanding) (Details) - USD ($)
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Jul. 31, 2021
Common stock outstanding:          
Common stock outstanding, beginning balances (in shares)     144,496,077    
Common stock outstanding, ending balance (in shares) 142,392,135   142,392,135    
2022 Share Repurchase Program          
Common stock outstanding:          
Share repurchase program, amount authorized         $ 1,000,000,000
Number of shares repurchased (in shares)     5,100,000    
Value of shares repurchased     $ 314,000,000    
Share repurchase program, remaining amount available $ 686,000,000   $ 686,000,000    
Common stock          
Common stock outstanding:          
Common stock outstanding, beginning balances (in shares) 144,166,009 150,471,570 144,496,077 150,330,358  
Shares issued under employee stock purchase plan (in shares) 520,483 771,548 520,483 771,548  
Vesting of restricted stock (in shares) 28,243 24,054 2,453,715 2,241,136  
Purchases of treasury stock under employee stock plans (in shares) (9,719) (8,873) (700,274) (610,279)  
Treasury shares purchased (in shares) (2,312,881) (1,891,798) (4,377,866) (3,366,262)  
Common stock outstanding, ending balance (in shares) 142,392,135 149,366,501 142,392,135 149,366,501  
v3.22.1
Concentration of Risk and Segment Data (Additional Information) (Details)
 6 Months Ended
Feb. 28, 2022
country
Revenue, Major Customer [Line Items]  
Number of operating countries (more than) 30
Net revenue | Customer concentration | Five largest customers  
Revenue, Major Customer [Line Items]  
Concentration risk 47.00%
Net revenue | Customer concentration | 78 Customers  
Revenue, Major Customer [Line Items]  
Concentration risk 90.00%
v3.22.1
Concentration of Risk and Segment Data (Segment Income) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income $ 284 $ 209 $ 601 $ 494
Reconciling items:        
Amortization of intangibles (8) (12) (16) (23)
Stock-based compensation expense and related charges (16) (23) (51) (57)
Restructuring, severance and related charges 0 (6) 0 (5)
Interest income 0 2 1 4
Interest expense (33) (31) (66) (63)
Operating Segments        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income 344 285 744 650
Operating Segments | EMS        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income 152 98 299 220
Operating Segments | DMS        
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]        
Income 192 187 445 430
Segment Reconciling Items        
Reconciling items:        
Amortization of intangibles (8) (12) (16) (23)
Stock-based compensation expense and related charges (16) (23) (51) (57)
Restructuring, severance and related charges 0 (6) 0 (5)
Business interruption and impairment charges, net 0 1 0 1
Acquisition and integration charges 0 (2) 0 (4)
Other expense (net of periodic benefit cost) (3) (5) (11) (9)
Interest income 0 2 1 4
Interest expense $ (33) $ (31) $ (66) $ (63)
v3.22.1
Concentration of Risk and Segment Data (Revenues Disaggregated by Segment) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Disaggregation of Revenue [Line Items]        
Net revenue $ 7,553 $ 6,828 $ 16,120 $ 14,661
Point in time        
Disaggregation of Revenue [Line Items]        
Net revenue 2,745 2,601 6,522 5,898
Over time        
Disaggregation of Revenue [Line Items]        
Net revenue 4,808 4,227 9,598 8,763
EMS        
Disaggregation of Revenue [Line Items]        
Net revenue 3,774 3,179 7,632 6,772
EMS | Point in time        
Disaggregation of Revenue [Line Items]        
Net revenue 1,327 819 2,734 1,876
EMS | Over time        
Disaggregation of Revenue [Line Items]        
Net revenue 2,447 2,360 4,898 4,896
DMS        
Disaggregation of Revenue [Line Items]        
Net revenue 3,779 3,649 8,488 7,889
DMS | Point in time        
Disaggregation of Revenue [Line Items]        
Net revenue 1,418 1,782 3,788 4,022
DMS | Over time        
Disaggregation of Revenue [Line Items]        
Net revenue $ 2,361 $ 1,867 $ 4,700 $ 3,867
v3.22.1
Concentration of Risk and Segment Data (Foreign Source Revenue) (Details)
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Foreign source revenue | Net revenue | Foreign source revenue        
Concentration Risk [Line Items]        
Concentration risk 83.50% 84.70% 84.20% 84.10%
v3.22.1
Income Taxes (Details)
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
Income Tax Disclosure [Abstract]        
U.S. federal statutory income tax rate 21.00% 21.00% 21.00% 21.00%
Effective income tax rate 21.70% 26.90% 22.80% 28.50%
v3.22.1
Earnings Per Share and Dividends (Earnings Per Share) (Details) - shares
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
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) 465,600 1,103,500 465,600 1,074,200
Employee stock purchase plan        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Common shares excluded from computation of diluted earnings per share (in shares) 0 0 0 1,900
v3.22.1
Earnings Per Share and Dividends (Dividends) (Details) - USD ($)
$ / shares in Units, $ in Millions
Jan. 20, 2022
Oct. 21, 2021
Jan. 21, 2021
Oct. 15, 2020
Earnings Per Share [Abstract]        
Dividend per Share (in dollars per share) $ 0.08 $ 0.08 $ 0.08 $ 0.08
Total of Cash Dividends Declared $ 12 $ 12 $ 12 $ 12
v3.22.1
Fair Value Measurements (Fair Value Measurements on a Recurring Basis) (Details) - Recurring - USD ($)
$ in Millions
Feb. 28, 2022
Aug. 31, 2021
Level 1 | Cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash equivalents $ 5 $ 36
Level 1 | Prepaid expenses and other current assets    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Short-term investments 17 18
Level 2 | Prepaid expenses and other current assets | Designated as Hedging Instruments | Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 18 9
Level 2 | Prepaid expenses and other current assets | Not Designated as Hedging Instruments | Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 46 20
Level 2 | Other assets | Designated as Hedging Instruments | Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative asset 15 9
Level 2 | Accrued expenses | Designated as Hedging Instruments | Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 2 6
Level 2 | Accrued expenses | Not Designated as Hedging Instruments | Foreign exchange contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 9 9
Level 2 | Accrued expenses | Not Designated as Hedging Instruments | Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability 0 3
Extended interest rate swap not designated as a hedging instrument 0 10
Level 2 | Other liabilities | Designated as Hedging Instruments | Interest rate swaps    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liability $ 3 $ 7
v3.22.1
Fair Value Measurements (Assets Held For Sale Measured At Fair Value) (Details) - USD ($)
$ in Millions
Feb. 28, 2022
Aug. 31, 2021
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets held for sale, assets with fair value exceeding carrying value $ 30  
Level 2    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets held for sale, assets with carrying value approximating fair value 31 $ 31
Carrying Amount    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets held for sale $ 31 $ 61
v3.22.1
Fair Value Measurements (Fair Value of Financial Instruments) (Details) - USD ($)
$ in Millions
Feb. 28, 2022
Aug. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount $ 2,881 $ 2,878
Senior Notes | 4.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior notes, stated interest rate (as a percent) 4.70%  
Carrying Amount $ 500 499
Senior Notes | 4.900% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior notes, stated interest rate (as a percent) 4.90%  
Carrying Amount $ 300 300
Senior Notes | 3.950% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior notes, stated interest rate (as a percent) 3.95%  
Carrying Amount $ 496 496
Senior Notes | 3.600% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior notes, stated interest rate (as a percent) 3.60%  
Carrying Amount $ 496 495
Senior Notes | 3.000% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior notes, stated interest rate (as a percent) 3.00%  
Carrying Amount $ 592 591
Senior Notes | 1.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior notes, stated interest rate (as a percent) 1.70%  
Carrying Amount $ 496 496
Senior Notes | Carrying Amount | Level 2 | 4.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 500 499
Senior Notes | Carrying Amount | Level 2 | 3.950% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 496 496
Senior Notes | Carrying Amount | Level 2 | 3.600% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 496 495
Senior Notes | Carrying Amount | Level 2 | 3.000% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 592 591
Senior Notes | Carrying Amount | Level 2 | 1.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 496 496
Senior Notes | Carrying Amount | Level 3 | 4.900% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 300 300
Senior Notes | Fair Value | Level 2 | 4.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 509 521
Senior Notes | Fair Value | Level 2 | 3.950% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 522 555
Senior Notes | Fair Value | Level 2 | 3.600% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 507 541
Senior Notes | Fair Value | Level 2 | 3.000% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 576 618
Senior Notes | Fair Value | Level 2 | 1.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 483 504
Senior Notes | Fair Value | Level 3 | 4.900% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value $ 311 $ 322