JABIL INC, 10-Q filed on 1/10/2025
Quarterly Report
v3.24.4
Cover Page - shares
 3 Months Ended
Nov. 30, 2024
Jan. 02, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Nov. 30, 2024  
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, $0.001 par value per share  
Trading Symbol JBL  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   109,178,525
Amendment Flag false  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0000898293  
Current Fiscal Year End Date --08-31  
v3.24.4
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,058 $ 2,201
Accounts receivable, net of allowance for credit losses 3,718 3,533
Contract assets 1,103 1,071
Inventories, net of reserve for excess and obsolete inventory 4,320 4,276
Prepaid expenses and other current assets 2,029 1,710
Total current assets 13,228 12,791
Property, plant and equipment, net of accumulated depreciation of $4,763 as of November 30, 2024 and $4,736 as of August 31, 2024 2,915 3,024
Operating lease right-of-use assets 385 360
Goodwill 670 661
Intangible assets, net of accumulated amortization of $556 as of November 30, 2024 and $547 as of August 31, 2024 168 143
Deferred income taxes 125 96
Other assets 280 276
Total assets 17,771 17,351
Current liabilities:    
Current installments of notes payable and long-term debt 0 0
Accounts payable 6,875 6,190
Accrued expenses 5,466 5,499
Current operating lease liabilities 93 93
Total current liabilities 12,434 11,782
Notes payable and long-term debt, less current installments 2,882 2,880
Other liabilities 327 416
Non-current operating lease liabilities 304 284
Income tax liabilities 92 109
Deferred income taxes 139 143
Total liabilities 16,178 15,614
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; 277,463,763 and 276,381,151 shares issued and 111,693,059 and 113,744,167 shares outstanding as of November 30, 2024 and August 31, 2024, respectively 0 0
Additional paid-in capital 3,002 2,841
Retained earnings 5,851 5,760
Accumulated other comprehensive loss (52) (46)
Treasury stock at cost, 165,770,704 and 162,636,984 shares as of November 30, 2024 and August 31, 2024, respectively (7,208) (6,818)
Total Jabil Inc. stockholders’ equity 1,593 1,737
Noncontrolling interests 0 0
Total equity 1,593 1,737
Total liabilities and equity $ 17,771 $ 17,351
v3.24.4
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Statement of Financial Position [Abstract]    
Accumulated depreciation $ 4,763 $ 4,736
Accumulated amortization $ 556 $ 547
Preferred stock, par value (in usd per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 500,000,000 500,000,000
Common stock, shares issued (in shares) 277,463,763 276,381,151
Common stock, shares outstanding (in shares) 111,693,059 113,744,167
Treasury stock at cost, shares (in shares) 165,770,704 162,636,984
v3.24.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Income Statement [Abstract]    
Net revenue $ 6,994 $ 8,387
Cost of revenue 6,388 7,612
Gross profit 606 775
Operating expenses:    
Selling, general and administrative 305 314
Research and development 8 10
Amortization of intangibles 13 6
Restructuring, severance and related charges 83 127
Acquisition and divestiture related charges 0 15
Operating income 197 303
Other expense 20 21
Interest expense, net 38 47
Income before income tax 139 235
Income tax expense 39 41
Net income 100 194
Net income attributable to noncontrolling interests, net of tax 0 0
Net income attributable to Jabil Inc. $ 100 $ 194
Earnings per share attributable to the stockholders of Jabil Inc.:    
Basic (in usd per share) $ 0.89 $ 1.49
Diluted (in usd per share) $ 0.88 $ 1.47
Weighted average shares outstanding:    
Basic (in shares) 112.7 129.6
Diluted (in shares) 114.0 132.1
v3.24.4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Statement of Comprehensive Income [Abstract]    
Net income $ 100 $ 194
Other comprehensive (loss) income:    
Change in foreign currency translation (3) 0
Change in derivative instruments (4) 13
Actuarial loss 0 (3)
Prior service credit 1 1
Total other comprehensive (loss) income (6) 11
Comprehensive income 94 205
Comprehensive income attributable to noncontrolling interests 0 0
Comprehensive income attributable to Jabil Inc. $ 94 $ 205
v3.24.4
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, 2023 $ 2,867   $ 2,795 $ 4,412 $ (17) $ (4,324) $ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Treasury shares purchased 0   (13)     (487)  
Recognition of stock-based compensation     45        
Declared dividends       (11)      
Net income attributable to Jabil Inc. 194     194      
Total other comprehensive (loss) income 11       11    
Purchases of treasury stock under employee stock plans           (67)  
Excise taxes related to treasury shares purchased           (3)  
Ending Balance at Nov. 30, 2023 2,536 $ 0 2,827 4,595 (6) (4,881) 1
Beginning Balance at Aug. 31, 2024 1,737   2,841 5,760 (46) (6,818) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Disposition of noncontrolling interests     2        
Treasury shares purchased (232)   115     (347)  
Recognition of stock-based compensation     44        
Declared dividends       (9)      
Net income attributable to Jabil Inc. 100     100      
Total other comprehensive (loss) income (6)       (6)    
Purchases of treasury stock under employee stock plans           (40)  
Excise taxes related to treasury shares purchased           (3)  
Ending Balance at Nov. 30, 2024 $ 1,593 $ 0 $ 3,002 $ 5,851 $ (52) $ (7,208) $ 0
v3.24.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 15 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Nov. 30, 2024
Cash flows provided by operating activities:      
Net income $ 100 $ 194  
Depreciation, amortization, and other, net 182 206  
Change in operating assets and liabilities, exclusive of net assets acquired 30 48  
Net cash provided by operating activities 312 448  
Cash flows used in investing activities:      
Acquisition of property, plant and equipment (97) (288)  
Proceeds and advances from sale of property, plant and equipment 11 13  
Cash paid for business and intangible asset acquisitions, net of cash (63) (59)  
Proceeds from the divestiture of businesses, net of cash 0 258  
Other, net 13 1  
Net cash used in investing activities (136) (75)  
Cash flows used in financing activities:      
Borrowings under debt agreements 100 395  
Payments toward debt agreements (130) (436)  
Payments to acquire treasury stock (232) (500)  
Dividends paid to stockholders (10) (12)  
Treasury stock minimum tax withholding related to vesting of restricted stock (40) (67)  
Net cash used in financing activities (312) (620)  
Effect of exchange rate changes on cash and cash equivalents (7) (7)  
Net decrease in cash and cash equivalents (143) (254)  
Cash and cash equivalents at beginning of period 2,201 1,804 $ 1,804
Cash and cash equivalents at end of period $ 2,058 $ 1,550 $ 2,058
v3.24.4
Basis of Presentation
 3 Months Ended
Nov. 30, 2024
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. 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, 2024. Results for the three months ended November 30, 2024 are not necessarily an indication of the results that may be expected for the full fiscal year ending August 31, 2025. The Company has made certain reclassification adjustments to conform prior period amounts to the current presentation, including adjustments related to the change in reportable segments. See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for additional information.
v3.24.4
Trade Accounts Receivable Sale Programs
 3 Months Ended
Nov. 30, 2024
Transfers and Servicing [Abstract]  
Trade Accounts Receivable Sale Programs Trade Accounts Receivable Sale Programs
The Company regularly sells designated pools of high credit quality trade accounts receivable under uncommitted trade accounts receivable sale programs to unaffiliated financial institutions without recourse. As these accounts receivable are sold without recourse, the Company does not retain the associated risks following the transfer of such accounts receivable to the respective financial institutions. The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under each of the trade accounts receivable sale programs. The Company does not record a servicing asset or liability on the 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.
Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold under the trade accounts receivable sale programs are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):
Program
Maximum Amount(1)
Type of FacilityExpiration Date
A
$350 
Uncommitted
(2)
B
$120 
Uncommitted
(2)
C
1,900 
CNY
Uncommitted
(2)
D
$230 
Uncommitted
May 4, 2028(2)
E
$170 
Uncommitted
(3)
F
$50 
Uncommitted
(3)
G
$100 
Uncommitted
(2)
H
$1,200 
Uncommitted
(2)
I
$250 
Uncommitted
(2)
J
8,100 
INR
Uncommitted
(2)
K
$100 
Uncommitted
(2)
L
$75 
Uncommitted
January 23, 2025(2)
(1)Maximum amount of trade accounts receivable that may be sold under a facility at any one time.
(2)Any party may elect to terminate the agreement upon 30 days prior notice.
(3)Any party may elect to terminate the agreement upon 15 days prior notice.
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Trade accounts receivable sold$1,686 $2,036 
Cash proceeds received$1,676 $2,025 
Pre-tax losses on sale of receivables(1)
$10 $11 
(1)Recorded to other expense within the Condensed Consolidated Statements of Operations.
Asset-Backed Securitization Program
Certain Jabil entities participating in the global asset-backed securitization program continuously sell designated pools of trade accounts receivable to a special purpose entity, which in turn sells certain of the receivables at a discount to conduits administered by an unaffiliated financial institution on a monthly basis. In addition, 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 continues servicing the receivables sold and in exchange receives an immaterial servicing fee under the global asset-backed securitization program. 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 November 30, 2024.
Effective November 21, 2024, the terms of the global asset-backed securitization program were amended to extend the termination date from November 2024 to January 2025. The maximum amount of net cash proceeds available at any one time is $700 million. As of November 30, 2024, the Company had no available liquidity under its global asset-backed securitization program.
Transfers of the receivables under the asset-backed securitization program are accounted for as sales and, accordingly, net receivables sold under the asset-backed securitization program 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.
In connection with the asset-backed securitization program, the Company recognized the following (in millions):
Three months ended
November 30, 2024November 30, 2023
Trade accounts receivable sold$1,067 $989 
Cash proceeds received(1)
$1,055 $979 
Pre-tax losses on sale of receivables(2)
$12 $10 
(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2)Recorded to other expense within the Condensed Consolidated Statements of Operations.
The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Credit Facility. As of November 30, 2024, and August 31, 2024, the Company was in compliance with all covenants under the global asset-backed securitization program.
v3.24.4
Inventories
 3 Months Ended
Nov. 30, 2024
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consist of the following (in millions):
November 30, 2024August 31, 2024
Raw materials$3,835 $3,903 
Work in process245 190 
Finished goods311 246 
Reserve for excess and obsolete inventory(71)(63)
Inventories, net$4,320 $4,276 
The Company is responsible for procuring certain components from suppliers for the manufacturing of finished goods at the direction of certain customers. If the Company does not obtain control of these components before they are transferred to the customer, the Company accounts for revenue and cost of revenue associated with such components on a net basis. Revenue and cost of revenue associated with components procured directly from customers is accounted for on a net basis if the components do not constitute a distinct good or service from the customer. As of November 30, 2024 and August 31, 2024, the Company had $1.1 billion and $734 million, respectively, of components included in prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets, related to purchases made to procure components for customers whereby the associated revenue is expected to be accounted for on a net basis once transferred to the customer.
v3.24.4
Leases
 3 Months Ended
Nov. 30, 2024
Leases [Abstract]  
Leases Leases
During fiscal year 2025, the Company entered into new operating and finance leases. The future minimum lease payments under these new leases as of November 30, 2024, were as follows (in millions):
Payments due by period
TotalLess than 1 year1-3 years3-5 yearsAfter 5 years
Operating lease obligations(1)
$58 $8 $16 $11 $23 
Finance lease obligations$17 $12 $4 $1 $— 
(1)Excludes $91 million of payments related to leases signed but not yet commenced.
Leases Leases
During fiscal year 2025, the Company entered into new operating and finance leases. The future minimum lease payments under these new leases as of November 30, 2024, were as follows (in millions):
Payments due by period
TotalLess than 1 year1-3 years3-5 yearsAfter 5 years
Operating lease obligations(1)
$58 $8 $16 $11 $23 
Finance lease obligations$17 $12 $4 $1 $— 
(1)Excludes $91 million of payments related to leases signed but not yet commenced.
v3.24.4
Goodwill and Other Intangible Assets
 3 Months Ended
Nov. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions, and as a result of the organizational realignment, the Company’s operating segments now consist of three segments – Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce, which are also the Company’s reportable segments. See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for additional information.
The Company performs a goodwill impairment analysis on an annual basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. As a result of the change in reportable segments, the Company’s reporting units also changed. In connection with the preparation of the Company’s financial statements for the quarter ended November 30, 2024, the Company tested goodwill for impairment immediately before and after the reorganization. As a result of these analyses, the Company determined that goodwill was not impaired before or after the reorganization.
The following table presents the changes in goodwill allocated to the Company’s reportable segments during the three months ended November 30, 2024 (in millions):
Regulated Industries
Intelligent Infrastructure
Connected Living and Digital Commerce
Total
Balance as of September 1, 2024$490 $69 $102 $661 
Acquisitions and adjustments— 15 — 15 
Change in foreign currency exchange rates(5)— (1)(6)
Balance as of November 30, 2024
$485 $84 $101 $670 
The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in millions):
 November 30, 2024August 31, 2024
Gross Carrying
Amount		Accumulated
Impairment		Gross Carrying
Amount		Accumulated
Impairment
Goodwill$1,690 $1,020 $1,681 $1,020 
v3.24.4
Notes Payable and Long-Term Debt
 3 Months Ended
Nov. 30, 2024
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt Notes Payable and Long-Term Debt
Notes payable and long-term debt outstanding as of November 30, 2024, and August 31, 2024, are summarized below (in millions): 
Maturity DateNovember 30, 2024August 31, 2024
3.950% Senior Notes
Jan 12, 2028$498 $498 
3.600% Senior Notes
Jan 15, 2030497 497 
3.000% Senior Notes
Jan 15, 2031594 594 
1.700% Senior Notes
Apr 15, 2026499 499 
4.250% Senior Notes
May 15, 2027497 496 
5.450% Senior Notes
Feb 1, 2029297 296 
Borrowings under credit facilities(1)
Jan 22, 2026 and Jan 22, 2028— — 
Borrowings under loansJul 31, 2026— — 
Total notes payable and long-term debt2,882 2,880 
Less current installments of notes payable and long-term debt
— — 
Notes payable and long-term debt, less current installments
$2,882 $2,880 
(1)As of November 30, 2024, the Company has $4.0 billion in available unused borrowing capacity under its revolving credit facilities. The Credit Facility acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $3.2 billion under its commercial paper program.
Debt Covenants
Borrowings under the Company’s debt agreements are subject to various covenants that limit the Company’s ability to: incur additional indebtedness, sell assets, effect mergers and certain transactions, and effect certain transactions with subsidiaries and affiliates. In addition, the revolving credit facilities contain debt leverage and interest coverage covenants. The Company is also subject to certain covenants requiring the Company to offer to repurchase the 3.950%, 3.600%, 3.000%, 1.700%, 4.250% or 5.450% Senior Notes upon a change of control. As of November 30, 2024, and August 31, 2024, the Company was in compliance with its debt covenants.
Fair Value
Refer to Note 18 – “Fair Value Measurements” for the estimated fair values of the Company’s notes payable and long-term debt.
v3.24.4
Asset-Backed Securitization Program
 3 Months Ended
Nov. 30, 2024
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 under uncommitted trade accounts receivable sale programs to unaffiliated financial institutions without recourse. As these accounts receivable are sold without recourse, the Company does not retain the associated risks following the transfer of such accounts receivable to the respective financial institutions. The Company continues servicing the receivables sold and in exchange receives an immaterial servicing fee under each of the trade accounts receivable sale programs. The Company does not record a servicing asset or liability on the 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.
Transfers of the receivables under the trade accounts receivable sale programs are accounted for as sales and, accordingly, net receivables sold under the trade accounts receivable sale programs are excluded from accounts receivable on the Condensed Consolidated Balance Sheets and are reflected as cash provided by operating activities on the Condensed Consolidated Statements of Cash Flows.
The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):
Program
Maximum Amount(1)
Type of FacilityExpiration Date
A
$350 
Uncommitted
(2)
B
$120 
Uncommitted
(2)
C
1,900 
CNY
Uncommitted
(2)
D
$230 
Uncommitted
May 4, 2028(2)
E
$170 
Uncommitted
(3)
F
$50 
Uncommitted
(3)
G
$100 
Uncommitted
(2)
H
$1,200 
Uncommitted
(2)
I
$250 
Uncommitted
(2)
J
8,100 
INR
Uncommitted
(2)
K
$100 
Uncommitted
(2)
L
$75 
Uncommitted
January 23, 2025(2)
(1)Maximum amount of trade accounts receivable that may be sold under a facility at any one time.
(2)Any party may elect to terminate the agreement upon 30 days prior notice.
(3)Any party may elect to terminate the agreement upon 15 days prior notice.
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Trade accounts receivable sold$1,686 $2,036 
Cash proceeds received$1,676 $2,025 
Pre-tax losses on sale of receivables(1)
$10 $11 
(1)Recorded to other expense within the Condensed Consolidated Statements of Operations.
Asset-Backed Securitization Program
Certain Jabil entities participating in the global asset-backed securitization program continuously sell designated pools of trade accounts receivable to a special purpose entity, which in turn sells certain of the receivables at a discount to conduits administered by an unaffiliated financial institution on a monthly basis. In addition, 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 continues servicing the receivables sold and in exchange receives an immaterial servicing fee under the global asset-backed securitization program. 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 November 30, 2024.
Effective November 21, 2024, the terms of the global asset-backed securitization program were amended to extend the termination date from November 2024 to January 2025. The maximum amount of net cash proceeds available at any one time is $700 million. As of November 30, 2024, the Company had no available liquidity under its global asset-backed securitization program.
Transfers of the receivables under the asset-backed securitization program are accounted for as sales and, accordingly, net receivables sold under the asset-backed securitization program 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.
In connection with the asset-backed securitization program, the Company recognized the following (in millions):
Three months ended
November 30, 2024November 30, 2023
Trade accounts receivable sold$1,067 $989 
Cash proceeds received(1)
$1,055 $979 
Pre-tax losses on sale of receivables(2)
$12 $10 
(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2)Recorded to other expense within the Condensed Consolidated Statements of Operations.
The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Credit Facility. As of November 30, 2024, and August 31, 2024, the Company was in compliance with all covenants under the global asset-backed securitization program.
v3.24.4
Accrued Expenses
 3 Months Ended
Nov. 30, 2024
Accrued Liabilities, Current [Abstract]  
Accrued Expenses Accrued Expenses
Accrued expenses consist of the following (in millions):
November 30, 2024August 31, 2024
Inventory deposits$1,450 $1,582 
Contract liabilities(1)
1,077 1,017 
Accrued compensation and employee benefits649 699 
Other accrued expenses2,290 2,201 
Accrued expenses$5,466 $5,499 
(1)Revenue recognized during the three months ended November 30, 2024, and 2023 that was included in the contract liability balance as of August 31, 2024, and 2023 was $150 million and $161 million, respectively.
v3.24.4
Postretirement and Other Employee Benefits
 3 Months Ended
Nov. 30, 2024
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 ended November 30, 2024, and 2023 (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Service cost(1)
$6 $5 
Interest cost(2)
3 3 
Expected long-term return on plan assets(2)
(5)(4)
Recognized actuarial gain(2)
— (2)
Amortization of actuarial gain(2)(3)
— (1)
Amortization of prior service cost(2)
1 1 
Net periodic benefit cost$5 $2 
(1)Service cost is recognized in cost of revenue in the Condensed Consolidated Statements of Operations.
(2)Components are recognized in other expense in the Condensed Consolidated Statements of Operations.
(3)Actuarial gains and losses are amortized using a corridor approach. The gain/loss corridor is equal to 10 percent of the greater of the projected benefit obligation and the fair value of plan assets. Gains and losses in excess of the corridor are generally amortized over the average future working lifetime of the plan participants.
v3.24.4
Derivative Financial Instruments and Hedging Activities
 3 Months Ended
Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments and Hedging Activities
The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company’s financial performance and are referred to as market risks. The Company, where deemed appropriate, uses derivatives as risk management tools to mitigate the potential impact of certain market risks. The primary market risks managed by the Company through the use of derivative instruments are foreign currency risk and interest rate risk.
All derivative instruments are recorded gross on the Condensed Consolidated Balance Sheets at their respective fair values. Changes in fair value of derivative instruments are recorded in the Condensed Consolidated Statements of Operations, or as a component of AOCI in the Condensed Consolidated Balance Sheets, as discussed below.
Foreign Currency Risk Management
The Company enters into forward foreign exchange contracts to manage the foreign currency risk associated with the anticipated foreign currency denominated revenues and expenses.
Cash Flow Hedges
The Company enters into forward foreign exchange contracts to effectively lock in the value of anticipated foreign currency denominated revenues and expenses against foreign currency fluctuations. The related forward foreign exchange contracts have been designated as hedging instruments and are accounted for as cash flow hedges. The effective portion of the gain or loss on cash flow hedges is initially reported as a component of AOCI, net of tax, and is subsequently reclassified into the line item within the Condensed Consolidated Statements of Operations in which the hedged items are recorded, in the same period in which the hedged item affects earnings. The gains and losses recognized in earnings due to hedge ineffectiveness and the amount excluded from effectiveness testing are included as components of net revenue, cost of revenue and selling, general and administrative expense, which are the same line items in which the hedged items are recorded. The aggregate notional amount of these outstanding contracts as of November 30, 2024, and August 31, 2024, was $348 million and $353 million, respectively. The anticipated foreign currency denominated revenues and expenses being hedged are expected to occur between December 1, 2024, and August 31, 2025.
Net Investment Hedges
In addition, the Company has entered into forward foreign exchange contracts to hedge a portion of its net investment in foreign currency denominated operations, which are designated as net investment hedges. The effective portion of the gain or loss is included in change in foreign currency translation in OCI to offset the change in the carrying value of the net investment being hedged until the complete or substantially complete liquidation of the hedged foreign operation. The gains and losses recognized in earnings due to hedge ineffectiveness and the amounts excluded from effectiveness testing are included in interest expense, net. The maturity dates and aggregate notional amount of these outstanding contracts are as follows (in millions):
Maturity dateNovember 30, 2024August 31, 2024
October 2024$— $140 
January 2025103 106 
July 202553 55 
October 202595 — 
January 2026102 106 
April 202641 — 
Total$394 $407 
Non-Designated Derivatives
In addition to derivatives that are designated as hedging instruments and qualify for hedge accounting, the Company also enters into forward foreign exchange contracts to economically hedge transactional exposure associated with commitments arising from trade accounts receivable, trade accounts payable, fixed purchase obligations and intercompany transactions denominated in a currency other than the functional currency of the respective operating entity. The gains and losses from changes in fair values are recognized immediately in current earnings. The aggregate notional amount of these outstanding contracts as of November 30, 2024, and August 31, 2024, was $2.6 billion and $2.6 billion, respectively.
The Effect of Derivative Instruments on AOCI and the Condensed Consolidated Statements of Operations
The following table sets forth the gains and losses of the Company's derivative instruments designated as cash flow hedges and net investment hedges in OCI, and not designated as hedging instruments in the Condensed Consolidated Statements of Operations for the periods presented (in millions):
Three months ended
Financial Statement Line ItemNovember 30, 2024November 30, 2023
Derivative instruments designated as cash flow hedges:
(Losses) recognized in OCI(1)
$(12)$(3)
Losses (gains) reclassified from AOCI into earnings(1)(2)
Forward foreign exchange contractsCost of revenue$9 $17 
Interest rate contractsInterest expense, net$(1)$(1)
Derivative instruments designated as net investment hedges:
Gains (losses) recognized in OCI(1)
$21 $(4)
Derivative instruments not designated as hedging instruments:
(Losses) gains recognized in earnings from forward foreign exchange contractsCost of revenue$(21)$18 
Gains (losses) recognized in earnings from changes in foreign currencyCost of revenue$10 $(38)
(1)Amounts are net of tax, which are immaterial for the three months ended November 30, 2024, and 2023.
(2)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.
The gains and losses recognized in earnings due to amounts excluded from effectiveness testing were not material for all periods presented.
Refer to Note 18 – “Fair Value Measurements” for the fair values and classification of the Company’s derivative instruments.
Interest Rate Risk Management
The Company periodically enters into interest rate swaps to manage interest rate risk associated with the Company’s borrowings or anticipated debt issuances. As of November 30, 2024, there are no outstanding interest rate swaps.
v3.24.4
Accumulated Other Comprehensive Income
 3 Months Ended
Nov. 30, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income
The following table sets forth the changes in AOCI, net of tax, by component for the three months ended November 30, 2024 (in millions):
Foreign Currency
Translation Adjustment		Net Investment HedgesDerivative
Instruments		Actuarial GainPrior Service (Cost) CreditTotal
Balance as of August 31, 2024
$(44)$(24)$12 $29 $(19)$(46)
Other comprehensive (loss) income before reclassifications(24)21 (12)— — (15)
Amounts reclassified from AOCI— — 8 — 1 9 
Other comprehensive (loss) income(1)
(24)21 (4)— 1 (6)
Balance as of November 30, 2024
$(68)$(3)$8 $29 $(18)$(52)
(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(1)
Comprehensive Income ComponentsFinancial Statement Line ItemNovember 30, 2024November 30, 2023
Realized (gains) losses on pension and postretirement plans:
Actuarial gains
(2)
$— $(3)
Prior service costs
(2)
1 1 
(1)Amounts are net of tax, which are immaterial for the three months ended November 30, 2024 and 2023.
(2)Amounts are included in the computation of net periodic benefit cost. Refer to Note 9 – “Postretirement and Other Employee Benefits” for additional information.
v3.24.4
Stockholders' Equity
 3 Months Ended
Nov. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders’ Equity
The Company recognized stock-based compensation expense within selling, general and administrative expense as follows (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Restricted stock units$40 $42 
Employee stock purchase plan4 4 
Total$44 $46 
As of November 30, 2024, the shares available to be issued under the 2021 Equity Incentive Plan were 7,098,261.
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 three months ended November 30, 2024, and 2023, the Company awarded approximately 0.6 million and 0.4 million time-based restricted stock units, respectively, 0.1 million and 0.1 million performance-based restricted stock units, respectively, and 0.1 million and 0.1 million market-based restricted stock units, respectively.
The following represents the stock-based compensation information as of the period indicated (in millions):
 November 30, 2024
Unrecognized stock-based compensation expense – restricted stock units$99 
Remaining weighted-average period for restricted stock units expense1.6 years
Common Stock Outstanding
The following represents the common stock outstanding for the periods indicated:
Three months ended
November 30, 2024November 30, 2023
Common stock outstanding:
Beginning balances
113,744,167 131,294,422 
Vesting of restricted stock
1,082,612 1,766,775 
Purchases of treasury stock under employee stock plans
(323,000)(526,028)
Treasury shares purchased(2,810,720)(3,887,738)
Ending balances
111,693,059 128,647,431 
Treasury Shares Purchased
The Company repurchases shares of its common stock under share repurchase programs authorized by the Company’s Board of Directors. The following Board approved share repurchase programs were executed through a combination of open market transactions and accelerated share repurchase (“ASR”) agreements (in millions):
Board Approval DateAmount AuthorizedShares RepurchasedTotal Cash UtilizedRemaining AuthorizationAuthorization Completion Date
2022 Share Repurchase ProgramQ4 FY 2021$1,000 16.5$1,000 $— Q2 FY 2023
2023 Share Repurchase ProgramQ1 FY 2023$1,000 2.7$224 
(1)
Q4 FY 2023
Amended 2023 Share Repurchase Program(2)
Q1 FY 2024$2,500 20.4$2,500 $— Q1 FY 2025
2025 Share Repurchase Program(3)
Q1 FY 2025$1,000 4.3$636 $364 
(1)In September 2023, the Board of Directors amended and increased the 2023 Share Repurchase Program to allow for the repurchase of up to $2.5 billion of the Company’s common stock.
(2)In September 2024, an ASR transaction was completed, and 1.0 million additional shares were delivered under the Q4 FY 2024 ASR agreements. As of November 30, 2024, no authorization remained under the amended 2023 Share Repurchase Program.
(3)As of January 2, 2025, 4.3 million shares had been repurchased for $636 million and $364 million remains available under the 2025 Share Repurchase Program.
Under ASR agreements, the Company makes payments to the participating financial institutions and receives an initial delivery of shares of common stock. The final number of shares delivered upon settlement of the ASR agreements is determined based on a discount to the volume weighted average price of the Company’s common stock during the term of the agreements. At the time the shares are received by the Company, the initial delivery and the final receipt of shares upon settlement of the ASR agreements results in an immediate reduction of the outstanding shares used to calculate the weighted-average common shares outstanding for basic and diluted earnings per share.
The terms of ASR agreements, structured as outlined above, were as follows (in millions, except average price):
Agreement Execution DateAgreement Settlement DateAgreement AmountInitial Shares DeliveredAdditional Shares DeliveredTotal Shares DeliveredAverage Price Paid Per Share
Q1 FY 2024Q1 FY 2024$500 3.30.63.9$128.61 
Q4 FY 2024Q1 FY 2025$555 4.21.05.2$107.08 
Q2 FY 2025Q3 FY 2025$310 1.8(1)(1)$145.00 
(1)In December 2024, as part of the 2025 Share Repurchase Program, the Company entered into ASR agreements to repurchase $310 million, excluding excise tax, of the Company’s common stock. Under the ASR agreements, the Company made payments of $310 million to participating financial institutions and received an initial delivery of shares of common stock. The delivery of any remaining shares will occur at the final settlement of the transactions under the ASR agreements.
In addition, the Company repurchased shares of its common stock through the open market as follows (in millions):
Three months ended
November 30, 2024November 30, 2023
SharesCostSharesCost
Open market share repurchases(1)
1.8$232 0.0$— 
(1)As of November 30, 2024, $768 million remains available under the 2025 Share Repurchase Program.
Warrants
On December 27, 2024, the Company issued a warrant (the “Warrant”) to Amazon.com NV Investment Holdings LLC (“Warrantholder”) to acquire up to 1,158,539 ordinary shares of the Company (“Warrant Shares”) at an initial exercise price of $137.7671 per share, which is the preceding 30 trading day VWAP. The Warrant allows for cashless exercise and expires December 27, 2031. The Warrant Shares are subject to vesting for payments for purchased products and services over the Warrant term, with a portion of the Warrant Shares having vested as of the Warrant issuance.

Upon the consummation of an acquisition transaction (as defined in the Warrant), subject to certain exceptions, the unvested portion of the Warrant will vest in full. So long as the Warrant is unexercised, the Warrant does not entitle the Warrantholder to any voting rights or any other common stockholder rights. The exercise price and the number of Warrant Shares are subject to customary anti-dilution adjustments.
v3.24.4
Concentration of Risk and Segment Data
 3 Months Ended
Nov. 30, 2024
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 three months ended November 30, 2024, the Company’s five largest customers accounted for approximately 33% of its net revenue and 87 customers accounted for approximately 90% of its net revenue. Sales to these customers were reported in the Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce 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
Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses; for which separate financial information is available; and whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to assess the performance of the individual segment and make decisions about resources to be allocated to the segment.
The Company derives its revenue from providing comprehensive electronics design, production, and product management services. The CODM evaluates performance and allocates resources on a segment basis. Prior to the first quarter of fiscal year 2025, the Company’s operating segments consisted of two segments – Electronics Manufacturing Services (“EMS”) and Diversified Manufacturing Services (“DMS”). Beginning September 1, 2024, the Company reorganized its internal structure to focus on speed, precision, and solutions and, as a result of the organizational realignment, the Company’s operating segments now consist of three segments – Regulated Industries, Intelligent Infrastructure, and Connected Living and Digital Commerce, which are also the Company’s reportable segments. All prior period disclosures presented have been recast to reflect this change.
The Regulated Industries segment is focused on regulated markets and includes revenues from customers primarily in the automotive and transportation, healthcare and packaging, and renewable energy infrastructure industries. The Intelligent Infrastructure segment is focused on the modern digital ecosystem including artificial intelligence (“AI”) infrastructure and includes revenues from customers primarily in the capital equipment, cloud and data center infrastructure, and networking and communications industries. The Connected Living and Digital Commerce segment is focused on digitalization and automation, including warehouse automation and robotics, and includes revenues from customers primarily in the connected living and digital commerce industries. The segments are organized based on the economic profiles of the services performed, including manufacturing capabilities, market strategy, margins, return on capital, and risk profiles.
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. Total segment assets are defined as accounts receivable, contract assets, inventories, net, customer-related property, plant and equipment, intangible assets net of accumulated amortization, and goodwill. All other non-segment assets are reviewed on a global basis by management. Transactions between operating segments are generally recorded at amounts that approximate those at which we would transact with third parties.
The following table presents the Company’s revenues disaggregated by segment (in millions):
Three months ended
November 30, 2024November 30, 2023
Point in timeOver timeTotalPoint in timeOver timeTotal
Regulated Industries$135 $2,822 $2,957 $132 $3,060 $3,192 
Intelligent Infrastructure1,106 1,390 2,496 1,077 1,291 2,368 
Connected Living and Digital Commerce(1)
455 1,086 1,541 1,900 927 2,827 
Total$1,696 $5,298 $6,994 $3,109 $5,278 $8,387 
(1)Decrease in point in time revenues from the prior period is primarily driven by the divestiture of the Mobility Business during the three months ended February 29, 2024.
The Company operates in approximately 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
 
November 30, 2024(1)
November 30, 2023
Foreign source revenue80.8 %86.4 %
(1)Decrease from the prior period is primarily driven by the divestiture of the Mobility Business during the three months ended February 29, 2024.
The following tables sets forth operating segment information (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Segment income and reconciliation of income before income tax
Regulated Industries$138 $148 
Intelligent Infrastructure120 112 
Connected Living and Digital Commerce89 239 
Total segment income$347 $499 
Reconciling items:
Amortization of intangibles(13)(6)
Stock-based compensation expense and related charges(44)(46)
Restructuring, severance and related charges(1)
(83)(127)
Business interruption and impairment charges, net(2)
(9)— 
Acquisition and divestiture related charges— (15)
Other expense (net of periodic benefit cost)(21)(23)
Interest expense, net(38)(47)
Income before income tax$139 $235 
(1)Charges recorded during the three months ended November 30, 2024 and 2023, primarily related to the 2025 Restructuring Plan and 2024 Restructuring Plan, respectively.
(2)Charges recorded during the three months ended November 30, 2024, relate primarily to costs associated with damage from Hurricanes Helene and Milton, which impacted our operations in St. Petersburg, Florida and Asheville and Hendersonville, North Carolina.
November 30, 2024August 31, 2024
Total assets:
Regulated Industries$5,878 $5,855 
Intelligent Infrastructure2,991 2,624 
Connected Living and Digital Commerce2,242 2,297 
Other non-allocated assets6,660 6,575 
Total$17,771 $17,351 
v3.24.4
Restructuring, Severance and Related Charges
 3 Months Ended
Nov. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring, Severance and Related Charges Restructuring, Severance and Related Charges
Following is a summary of the Company’s restructuring, severance, and related charges (in millions):
 Three months ended
 
November 30, 2024(1)
November 30, 2023(2)
Employee severance and benefit costs$27 $95 
Lease costs3 — 
Asset write-off costs23 22 
Other costs30 10 
Total restructuring, severance and related charges(3)
$83 $127 
(1)Primarily relates to the 2025 Restructuring Plan.
(2)Primarily relates to the 2024 Restructuring Plan.
(3)Includes $21 million and $32 million recorded in the Regulated Industries segment, $29 million and $29 million recorded in the Intelligent Infrastructure segment, $6 million and $47 million recorded in the Connected Living and Digital Commerce segment, and $27 million and $19 million of non-allocated charges for the three months ended November 30, 2024 and 2023, respectively. Except for asset write-off costs, all restructuring, severance and related charges are cash costs. See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for further details on the change in reportable segments.
2025 Restructuring Plan
On September 24, 2024, the Company’s Board of Directors approved a restructuring plan to align our support infrastructure to further optimize organizational effectiveness. This action includes headcount reductions across our Selling, General, and Administrative (“SG&A”) and manufacturing cost base and capacity realignment (the “2025 Restructuring Plan”). The 2025 Restructuring Plan reflects the Company’s intention only and restructuring decisions, and the timing of such decisions, at certain locations are still subject to consultation with the Company’s employees and their representatives.
The Company currently expects to recognize approximately $150 million to $200 million in pre-tax restructuring and other related costs over the course of the Company’s 2025 fiscal year. The charges relating to the 2025 Restructuring Plan are currently expected to result in net cash expenditures of approximately $100 million to $130 million that will be payable over the course of the Company’s fiscal years 2025 and 2026. The exact timing of these charges and cash outflows, as well as the estimated cost ranges by category type, have not been finalized. This information will be subject to the finalization of timetables for the transition of functions, consultation with employees and their representatives as well as the statutory severance requirements of the jurisdictions impacted, and the amount and timing of the actual charges may vary due to a variety of factors. The Company’s estimates for the charges discussed above exclude any potential income tax effects.
The table below summarizes the Company’s liability activity, primarily associated with the 2025 Restructuring Plan (in millions):
Employee Severance
and Benefit Costs		Lease CostsAsset Write-off CostsOther Related CostsTotal
Balance as of August 31, 2024
$— $— $— $— $— 
Restructuring related charges26 3 19 26 74 
Asset write-off charge and other non-cash activity— — (19)(3)(22)
Cash payments(5)(3)— (4)(12)
Balance as of November 30, 2024
$21 $— $— $19 $40 
2024 Restructuring Plan
On September 26, 2023, the Company’s Board of Directors approved a restructuring plan to (i) realign the Company’s cost base for stranded costs associated with the Company’s sale and realignment of its Mobility Business and (ii) optimize the Company’s global footprint. This action includes headcount reductions across our SG&A cost base and capacity realignment (the “2024 Restructuring Plan”).
The 2024 Restructuring Plan, totaling approximately $300 million in pre-tax restructuring and other related costs, was substantially complete as of August 31, 2024.
The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):
Employee Severance
and Benefit Costs		Lease CostsAsset Write-off CostsOther Related CostsTotal
Balance as of August 31, 2024
$66 $1 $— $5 $72 
Restructuring related charges1 — 4 4 9 
Asset write-off charge and other non-cash activity— — (4)— (4)
Cash payments(34)— — (5)(39)
Balance as of November 30, 2024
$33 $1 $— $4 $38 
v3.24.4
Income Taxes
 3 Months Ended
Nov. 30, 2024
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
November 30, 2024November 30, 2023
U.S. federal statutory income tax rate21.0 %21.0 %
Effective income tax rate28.0 %17.6 %
The effective income tax rate differed for the three months ended November 30, 2024, compared to the three months ended November 30, 2023, primarily due to: (i) a change in the jurisdictional mix of earnings, driven in part by decreased income before income taxes in low tax rate jurisdictions for the three months ended November 30, 2024, (ii) an $18 million income tax benefit for the reversal of an unrecognized tax benefit due to a lapse of statute for the three months ended November 30, 2024, (iii) a $19 million income tax benefit for the reversal of an unrecognized tax benefit due to audit closure for the three months ended November 30, 2023, and (iv) an $11 million income tax benefit for the reversal of a portion of the U.S. valuation allowance related to an acquisition for the three months ended November 30, 2023.
The effective income tax rate differed from the U.S. federal statutory income tax rate of 21.0% during the three months ended November 30, 2024 and 2023, primarily due to: (i) the jurisdictional mix of earnings, (ii) losses in tax jurisdictions with existing valuation allowances, (iii) tax incentives granted to sites in China, Malaysia, Singapore, and Vietnam for the three months ended November 30, 2023, (iv) an $18 million income tax benefit for the reversal of an unrecognized tax benefit due to a lapse of statute for the three months ended November 30, 2024, (v) a $19 million income tax benefit associated with the reversal of an unrecognized tax benefit due to audit closure for the three months ended November 30, 2023, and (vi) an $11 million income tax benefit for the reversal of a portion of the U.S. valuation allowance related to an acquisition for the three months ended November 30, 2023.
v3.24.4
Earnings Per Share and Dividends
 3 Months Ended
Nov. 30, 2024
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
 November 30, 2024November 30, 2023
Restricted stock units352.3 654.4 
Dividends
The following table sets forth cash dividends declared by the Company to common stockholders during the three months ended November 30, 2024, and 2023 (in millions, except for per share data):
Dividend
Declaration Date		Dividend
per Share		Total of Cash Dividends
Declared		Date of Record for
Dividend Payment		Dividend Cash
Payment Date
Fiscal Year 2025:October 17, 2024$0.08 $9 November 15, 2024December 3, 2024
Fiscal Year 2024:October 19, 2023$0.08 $11 November 15, 2023December 4, 2023
v3.24.4
Business Acquisitions and Divestitures
 3 Months Ended
Nov. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Acquisitions and Divestitures Business Acquisitions and Divestitures
Acquisitions
Fiscal Year 2025
On October 1, 2024, the Company completed the acquisition of Mikros Technologies LLC for consideration transferred of $63 million. Mikros Technologies LLC is a leader in the engineering and manufacturing of liquid cooling solutions for thermal management. The final purchase price is subject to adjustment based on certain customary conditions as outlined in the purchase agreement.
The acquisition of Mikros Technologies was accounted for as a business combination using the acquisition method of accounting. Assets acquired of $63 million, including $40 million in intangible assets and $15 million in goodwill, were recorded at their estimated fair values as of the acquisition date. The preliminary estimates and measurements are subject to change during the measurement period for assets acquired, liabilities assumed, and tax adjustments. The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the Intelligent Infrastructure segment. The majority of the goodwill is currently expected to be deductible for income tax purposes. The results of operations were included in the Company’s condensed consolidated financial results beginning on October 1, 2024. Pro forma information has not been provided as the acquisition of Mikros Technologies is not deemed to be significant.
Fiscal Year 2024
On November 1, 2023, the Company completed the acquisition of ProcureAbility Inc. (“ProcureAbility”) for approximately $60 million in cash. ProcureAbility is a procurement services provider specializing in technology-enabled advisory, managed services, digital, staffing, and recruiting solutions.
The acquisition of ProcureAbility was accounted for as a business combination using the acquisition method of accounting. Assets acquired of $87 million, including $40 million in intangible assets and $38 million in goodwill, and liabilities assumed of $26 million were recorded at their estimated fair values as of the acquisition date. The excess of the purchase price over the fair value of the acquired assets and assumed liabilities was recorded to goodwill and was fully allocated to the Regulated Industries segment. The majority of the goodwill is currently not expected to be deductible for income tax purposes. The results of operations were included in the Company’s condensed consolidated financial results beginning on November 1, 2023. Pro forma information has not been provided as the acquisition of ProcureAbility is not deemed to be significant.
Divestitures
Fiscal Year 2024
The Company announced on September 26, 2023, that, through our indirect subsidiary, Jabil Circuit (Singapore) Pte. Ltd., a Singapore private limited company (“Singapore Seller”), we agreed to sell to an affiliate of BYD Electronic (International) Co. Ltd., a Hong Kong limited liability company (“Purchaser” or “BYDE”), its product manufacturing business in Chengdu, including its supporting component manufacturing in Wuxi, the Mobility Business, for cash consideration of approximately $2.2 billion, subject to certain customary purchase price adjustments.
As of August 31, 2023, the Company determined the Mobility Business met the criteria to be classified as held for sale. Assets and liabilities classified as held for sale had a carrying value less than the estimated fair value less cost to sell and, thus, no adjustment to the carrying value of the disposal group was necessary. Depreciation and amortization expense for long-lived assets was not recorded for the period in which these assets were classified as held for sale. The divestiture did not meet the criteria to be reported as discontinued operations, and the Company continued to report the operating results for the Mobility Business in the Company’s Condensed Consolidated Statement of Operations in the DMS segment until the Closing Date.
On December 29, 2023, the Closing Date, the Company completed the sale of the Mobility Business. As a result of the transaction, the Company derecognized net assets of approximately $1.2 billion, and recorded a pre-tax gain of $942 million, subject to certain post-closing adjustments that are still being finalized. In addition, the Company agreed to indemnify BYDE from certain liabilities that may arise post-close that relate to periods prior to the Closing Date. The Company incurred transaction and disposal costs in connection with the sale of approximately $67 million during the fiscal year ended August 31, 2024, which are included in continuing operations in the Company’s Condensed Consolidated Statements of Operations.
v3.24.4
Fair Value Measurements
 3 Months Ended
Nov. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair Value Measurements on a Recurring Basis
The following table presents the fair value of the Company's financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated (in millions):    
Fair Value HierarchyNovember 30, 2024August 31, 2024
Assets:
Cash and cash equivalents:
Cash equivalentsLevel 1
(1)
$352 $303 
Prepaid expenses and other current assets:
Short-term investmentsLevel 126 27 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
4 11 
Derivatives not designated as hedging instruments (Note 10)
Level 2
(2)
12 25 
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
4 — 
Other assets:
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
1 — 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
$21 $28 
Derivatives not designated as hedging instruments (Note 10)
Level 2
(2)
40 22 
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
— 6 
Other liabilities:
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
1 5 
(1)Consist of time deposits that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts, including cash flow hedges and net investment hedges are measured on a recurring basis at fair value, based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers.
Fair Value of Financial Instruments
The carrying amounts of cash and cash equivalents, trade accounts receivable, prepaid expenses, and other current assets, accounts payable and accrued expenses approximate fair value because of the short-term nature of these financial instruments. The carrying amounts of borrowings under credit facilities and under loans approximate fair value as interest rates on these instruments approximate 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 (in millions):
November 30, 2024August 31, 2024
Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Notes payable and long-term debt: (Note 6)
3.950% Senior Notes
Level 2
(1)
$498 $487 $498 $487 
3.600% Senior Notes
Level 2
(1)
$497 $467 $497 $468 
3.000% Senior Notes
Level 2
(1)
$594 $536 $594 $529 
1.700% Senior Notes
Level 2
(1)
$499 $479 $499 $476 
4.250% Senior Notes
Level 2
(1)
$497 $494 $496 $495 
5.450% Senior Notes
Level 2
(1)
$297 $305 $296 $306 
(1)The fair value estimates are based upon observable market data.
v3.24.4
Commitments and Contingencies
 3 Months Ended
Nov. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Legal Proceedings
The Company is party to certain lawsuits in the ordinary course of business. The Company does not believe that these proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s financial position, results of operations or cash flows.
v3.24.4
New Accounting Guidance
 3 Months Ended
Nov. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]  
New Accounting Guidance New Accounting Guidance
New accounting guidance adopted during the period did not have a material impact to the Company.
Recently issued accounting guidance is not applicable or did not have, or is not expected to have, a material impact to the Company.
v3.24.4
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Pay vs Performance Disclosure    
Net Income (Loss) Attributable to Parent $ 100 $ 194
v3.24.4
Insider Trading Arrangements
 3 Months Ended
Nov. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.4
Basis of Presentation (Policies)
 3 Months Ended
Nov. 30, 2024
Accounting Policies [Abstract]  
Reclassifications The Company has made certain reclassification adjustments to conform prior period amounts to the current presentation, including adjustments related to the change in reportable segments.
New Accounting Guidance
New accounting guidance adopted during the period did not have a material impact to the Company.
Recently issued accounting guidance is not applicable or did not have, or is not expected to have, a material impact to the Company.
v3.24.4
Trade Accounts Receivable Sale Programs (Tables)
 3 Months Ended
Nov. 30, 2024
Transfers and Servicing [Abstract]  
Schedule of Trade Accounts Receivable Sale Programs Key Terms
The following is a summary of the trade accounts receivable sale programs with unaffiliated financial institutions where the Company may elect to sell receivables and the unaffiliated financial institution may elect to purchase, at a discount, on an ongoing basis (in millions):
Program
Maximum Amount(1)
Type of FacilityExpiration Date
A
$350 
Uncommitted
(2)
B
$120 
Uncommitted
(2)
C
1,900 
CNY
Uncommitted
(2)
D
$230 
Uncommitted
May 4, 2028(2)
E
$170 
Uncommitted
(3)
F
$50 
Uncommitted
(3)
G
$100 
Uncommitted
(2)
H
$1,200 
Uncommitted
(2)
I
$250 
Uncommitted
(2)
J
8,100 
INR
Uncommitted
(2)
K
$100 
Uncommitted
(2)
L
$75 
Uncommitted
January 23, 2025(2)
(1)Maximum amount of trade accounts receivable that may be sold under a facility at any one time.
(2)Any party may elect to terminate the agreement upon 30 days prior notice.
(3)Any party may elect to terminate the agreement upon 15 days prior notice.
Schedule of Trade Accounts Receivable Sale Programs Amounts Recognized
In connection with the trade accounts receivable sale programs, the Company recognized the following (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Trade accounts receivable sold$1,686 $2,036 
Cash proceeds received$1,676 $2,025 
Pre-tax losses on sale of receivables(1)
$10 $11 
(1)Recorded to other expense within the Condensed Consolidated Statements of Operations.
v3.24.4
Inventories (Tables)
 3 Months Ended
Nov. 30, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consist of the following (in millions):
November 30, 2024August 31, 2024
Raw materials$3,835 $3,903 
Work in process245 190 
Finished goods311 246 
Reserve for excess and obsolete inventory(71)(63)
Inventories, net$4,320 $4,276 
v3.24.4
Leases (Tables)
 3 Months Ended
Nov. 30, 2024
Leases [Abstract]  
Schedule of Future Minimum Lease Payments under Operating Leases The future minimum lease payments under these new leases as of November 30, 2024, were as follows (in millions):
Payments due by period
TotalLess than 1 year1-3 years3-5 yearsAfter 5 years
Operating lease obligations(1)
$58 $8 $16 $11 $23 
Finance lease obligations$17 $12 $4 $1 $— 
(1)Excludes $91 million of payments related to leases signed but not yet commenced.
Schedule of Future Minimum Lease Payments under Finance Leases The future minimum lease payments under these new leases as of November 30, 2024, were as follows (in millions):
Payments due by period
TotalLess than 1 year1-3 years3-5 yearsAfter 5 years
Operating lease obligations(1)
$58 $8 $16 $11 $23 
Finance lease obligations$17 $12 $4 $1 $— 
(1)Excludes $91 million of payments related to leases signed but not yet commenced.
v3.24.4
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Nov. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill Allocated to Reportable Segments and Gross Goodwill Balances and Accumulated Impairments
The following table presents the changes in goodwill allocated to the Company’s reportable segments during the three months ended November 30, 2024 (in millions):
Regulated Industries
Intelligent Infrastructure
Connected Living and Digital Commerce
Total
Balance as of September 1, 2024$490 $69 $102 $661 
Acquisitions and adjustments— 15 — 15 
Change in foreign currency exchange rates(5)— (1)(6)
Balance as of November 30, 2024
$485 $84 $101 $670 
The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated (in millions):
 November 30, 2024August 31, 2024
Gross Carrying
Amount		Accumulated
Impairment		Gross Carrying
Amount		Accumulated
Impairment
Goodwill$1,690 $1,020 $1,681 $1,020 
v3.24.4
Notes Payable and Long-Term Debt (Tables)
 3 Months Ended
Nov. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Notes Payable and Long-term Debt
Notes payable and long-term debt outstanding as of November 30, 2024, and August 31, 2024, are summarized below (in millions): 
Maturity DateNovember 30, 2024August 31, 2024
3.950% Senior Notes
Jan 12, 2028$498 $498 
3.600% Senior Notes
Jan 15, 2030497 497 
3.000% Senior Notes
Jan 15, 2031594 594 
1.700% Senior Notes
Apr 15, 2026499 499 
4.250% Senior Notes
May 15, 2027497 496 
5.450% Senior Notes
Feb 1, 2029297 296 
Borrowings under credit facilities(1)
Jan 22, 2026 and Jan 22, 2028— — 
Borrowings under loansJul 31, 2026— — 
Total notes payable and long-term debt2,882 2,880 
Less current installments of notes payable and long-term debt
— — 
Notes payable and long-term debt, less current installments
$2,882 $2,880 
(1)As of November 30, 2024, the Company has $4.0 billion in available unused borrowing capacity under its revolving credit facilities. The Credit Facility acts as the back-up facility for commercial paper outstanding, if any. The Company has a borrowing capacity of up to $3.2 billion under its commercial paper program.
v3.24.4
Asset-Backed Securitization Program (Tables)
 3 Months Ended
Nov. 30, 2024
Transfers and Servicing [Abstract]  
Schedule of Asset-backed Securitization Programs Amounts Recognized
In connection with the asset-backed securitization program, the Company recognized the following (in millions):
Three months ended
November 30, 2024November 30, 2023
Trade accounts receivable sold$1,067 $989 
Cash proceeds received(1)
$1,055 $979 
Pre-tax losses on sale of receivables(2)
$12 $10 
(1)The amounts primarily represent proceeds from collections reinvested in revolving-period transfers.
(2)Recorded to other expense within the Condensed Consolidated Statements of Operations.
v3.24.4
Accrued Expenses (Tables)
 3 Months Ended
Nov. 30, 2024
Accrued Liabilities, Current [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consist of the following (in millions):
November 30, 2024August 31, 2024
Inventory deposits$1,450 $1,582 
Contract liabilities(1)
1,077 1,017 
Accrued compensation and employee benefits649 699 
Other accrued expenses2,290 2,201 
Accrued expenses$5,466 $5,499 
(1)Revenue recognized during the three months ended November 30, 2024, and 2023 that was included in the contract liability balance as of August 31, 2024, and 2023 was $150 million and $161 million, respectively.
v3.24.4
Postretirement and Other Employee Benefits (Tables)
 3 Months Ended
Nov. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Information about Net Periodic Benefit Cost
The following table provides information about the net periodic benefit cost for all plans for the three months ended November 30, 2024, and 2023 (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Service cost(1)
$6 $5 
Interest cost(2)
3 3 
Expected long-term return on plan assets(2)
(5)(4)
Recognized actuarial gain(2)
— (2)
Amortization of actuarial gain(2)(3)
— (1)
Amortization of prior service cost(2)
1 1 
Net periodic benefit cost$5 $2 
(1)Service cost is recognized in cost of revenue in the Condensed Consolidated Statements of Operations.
(2)Components are recognized in other expense in the Condensed Consolidated Statements of Operations.
(3)Actuarial gains and losses are amortized using a corridor approach. The gain/loss corridor is equal to 10 percent of the greater of the projected benefit obligation and the fair value of plan assets. Gains and losses in excess of the corridor are generally amortized over the average future working lifetime of the plan participants.
v3.24.4
Derivative Financial Instruments and Hedging Activities (Tables)
 3 Months Ended
Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Maturity Date and Aggregate Notional Amount Outstanding of Net Investment Hedges
Maturity dateNovember 30, 2024August 31, 2024
October 2024$— $140 
January 2025103 106 
July 202553 55 
October 202595 — 
January 2026102 106 
April 202641 — 
Total$394 $407 
Schedule of Net Gains (Losses) from Forward Contracts Recorded in Consolidated Statements of Operations
Three months ended
Financial Statement Line ItemNovember 30, 2024November 30, 2023
Derivative instruments designated as cash flow hedges:
(Losses) recognized in OCI(1)
$(12)$(3)
Losses (gains) reclassified from AOCI into earnings(1)(2)
Forward foreign exchange contractsCost of revenue$9 $17 
Interest rate contractsInterest expense, net$(1)$(1)
Derivative instruments designated as net investment hedges:
Gains (losses) recognized in OCI(1)
$21 $(4)
Derivative instruments not designated as hedging instruments:
(Losses) gains recognized in earnings from forward foreign exchange contractsCost of revenue$(21)$18 
Gains (losses) recognized in earnings from changes in foreign currencyCost of revenue$10 $(38)
(1)Amounts are net of tax, which are immaterial for the three months ended November 30, 2024, and 2023.
(2)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.
The gains and losses recognized in earnings due to amounts excluded from effectiveness testing were not material for all periods presented.
Refer to Note 18 – “Fair Value Measurements” for the fair values and classification of the Company’s derivative instruments.
v3.24.4
Accumulated Other Comprehensive Income (Tables)
 3 Months Ended
Nov. 30, 2024
Equity [Abstract]  
Schedule of Changes in AOCI
The following table sets forth the changes in AOCI, net of tax, by component for the three months ended November 30, 2024 (in millions):
Foreign Currency
Translation Adjustment		Net Investment HedgesDerivative
Instruments		Actuarial GainPrior Service (Cost) CreditTotal
Balance as of August 31, 2024
$(44)$(24)$12 $29 $(19)$(46)
Other comprehensive (loss) income before reclassifications(24)21 (12)— — (15)
Amounts reclassified from AOCI— — 8 — 1 9 
Other comprehensive (loss) income(1)
(24)21 (4)— 1 (6)
Balance as of November 30, 2024
$(68)$(3)$8 $29 $(18)$(52)
(1)Amounts are net of tax, which are immaterial.
Schedule of Reclassification from AOCI
The following table sets forth the amounts reclassified from AOCI into the Condensed Consolidated Statements of Operations, and the associated financial statement line item, net of tax, for the periods indicated (in millions):
 
Three months ended(1)
Comprehensive Income ComponentsFinancial Statement Line ItemNovember 30, 2024November 30, 2023
Realized (gains) losses on pension and postretirement plans:
Actuarial gains
(2)
$— $(3)
Prior service costs
(2)
1 1 
(1)Amounts are net of tax, which are immaterial for the three months ended November 30, 2024 and 2023.
(2)Amounts are included in the computation of net periodic benefit cost. Refer to Note 9 – “Postretirement and Other Employee Benefits” for additional information.
v3.24.4
Stockholders' Equity (Tables)
 3 Months Ended
Nov. 30, 2024
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
 November 30, 2024November 30, 2023
Restricted stock units$40 $42 
Employee stock purchase plan4 4 
Total$44 $46 
Schedule of Share-based Compensation Information
The following represents the stock-based compensation information as of the period indicated (in millions):
 November 30, 2024
Unrecognized stock-based compensation expense – restricted stock units$99 
Remaining weighted-average period for restricted stock units expense1.6 years
Schedule of Common Stock Outstanding
The following represents the common stock outstanding for the periods indicated:
Three months ended
November 30, 2024November 30, 2023
Common stock outstanding:
Beginning balances
113,744,167 131,294,422 
Vesting of restricted stock
1,082,612 1,766,775 
Purchases of treasury stock under employee stock plans
(323,000)(526,028)
Treasury shares purchased(2,810,720)(3,887,738)
Ending balances
111,693,059 128,647,431 
Schedule of Repurchase of Common Stock under Share Repurchase Program and Common Stock Repurchased through Open Market
The Company repurchases shares of its common stock under share repurchase programs authorized by the Company’s Board of Directors. The following Board approved share repurchase programs were executed through a combination of open market transactions and accelerated share repurchase (“ASR”) agreements (in millions):
Board Approval DateAmount AuthorizedShares RepurchasedTotal Cash UtilizedRemaining AuthorizationAuthorization Completion Date
2022 Share Repurchase ProgramQ4 FY 2021$1,000 16.5$1,000 $— Q2 FY 2023
2023 Share Repurchase ProgramQ1 FY 2023$1,000 2.7$224 
(1)
Q4 FY 2023
Amended 2023 Share Repurchase Program(2)
Q1 FY 2024$2,500 20.4$2,500 $— Q1 FY 2025
2025 Share Repurchase Program(3)
Q1 FY 2025$1,000 4.3$636 $364 
(1)In September 2023, the Board of Directors amended and increased the 2023 Share Repurchase Program to allow for the repurchase of up to $2.5 billion of the Company’s common stock.
(2)In September 2024, an ASR transaction was completed, and 1.0 million additional shares were delivered under the Q4 FY 2024 ASR agreements. As of November 30, 2024, no authorization remained under the amended 2023 Share Repurchase Program.
(3)As of January 2, 2025, 4.3 million shares had been repurchased for $636 million and $364 million remains available under the 2025 Share Repurchase Program.
In addition, the Company repurchased shares of its common stock through the open market as follows (in millions):
Three months ended
November 30, 2024November 30, 2023
SharesCostSharesCost
Open market share repurchases(1)
1.8$232 0.0$— 
(1)As of November 30, 2024, $768 million remains available under the 2025 Share Repurchase Program.
Schedule of Accelerated Share Repurchases Agreement
The terms of ASR agreements, structured as outlined above, were as follows (in millions, except average price):
Agreement Execution DateAgreement Settlement DateAgreement AmountInitial Shares DeliveredAdditional Shares DeliveredTotal Shares DeliveredAverage Price Paid Per Share
Q1 FY 2024Q1 FY 2024$500 3.30.63.9$128.61 
Q4 FY 2024Q1 FY 2025$555 4.21.05.2$107.08 
Q2 FY 2025Q3 FY 2025$310 1.8(1)(1)$145.00 
(1)In December 2024, as part of the 2025 Share Repurchase Program, the Company entered into ASR agreements to repurchase $310 million, excluding excise tax, of the Company’s common stock. Under the ASR agreements, the Company made payments of $310 million to participating financial institutions and received an initial delivery of shares of common stock. The delivery of any remaining shares will occur at the final settlement of the transactions under the ASR agreements.
v3.24.4
Concentration of Risk and Segment Data (Tables)
 3 Months Ended
Nov. 30, 2024
Segment Reporting [Abstract]  
Schedule of Revenues Disaggregated by Segment
The following table presents the Company’s revenues disaggregated by segment (in millions):
Three months ended
November 30, 2024November 30, 2023
Point in timeOver timeTotalPoint in timeOver timeTotal
Regulated Industries$135 $2,822 $2,957 $132 $3,060 $3,192 
Intelligent Infrastructure1,106 1,390 2,496 1,077 1,291 2,368 
Connected Living and Digital Commerce(1)
455 1,086 1,541 1,900 927 2,827 
Total$1,696 $5,298 $6,994 $3,109 $5,278 $8,387 
(1)Decrease in point in time revenues from the prior period is primarily driven by the divestiture of the Mobility Business during the three months ended February 29, 2024.
Schedule of Segment Income and Reconciliation of Income Before Income Tax
The following tables sets forth operating segment information (in millions):
 Three months ended
 November 30, 2024November 30, 2023
Segment income and reconciliation of income before income tax
Regulated Industries$138 $148 
Intelligent Infrastructure120 112 
Connected Living and Digital Commerce89 239 
Total segment income$347 $499 
Reconciling items:
Amortization of intangibles(13)(6)
Stock-based compensation expense and related charges(44)(46)
Restructuring, severance and related charges(1)
(83)(127)
Business interruption and impairment charges, net(2)
(9)— 
Acquisition and divestiture related charges— (15)
Other expense (net of periodic benefit cost)(21)(23)
Interest expense, net(38)(47)
Income before income tax$139 $235 
(1)Charges recorded during the three months ended November 30, 2024 and 2023, primarily related to the 2025 Restructuring Plan and 2024 Restructuring Plan, respectively.
(2)Charges recorded during the three months ended November 30, 2024, relate primarily to costs associated with damage from Hurricanes Helene and Milton, which impacted our operations in St. Petersburg, Florida and Asheville and Hendersonville, North Carolina.
Schedule of Segment Assets
November 30, 2024August 31, 2024
Total assets:
Regulated Industries$5,878 $5,855 
Intelligent Infrastructure2,991 2,624 
Connected Living and Digital Commerce2,242 2,297 
Other non-allocated assets6,660 6,575 
Total$17,771 $17,351 
Schedule of Foreign Source Revenue The following table sets forth, for the periods indicated, foreign source revenue expressed as a percentage of net revenue:
Three months ended
 
November 30, 2024(1)
November 30, 2023
Foreign source revenue80.8 %86.4 %
(1)Decrease from the prior period is primarily driven by the divestiture of the Mobility Business during the three months ended February 29, 2024.
v3.24.4
Restructuring, Severance and Related Charges (Tables)
 3 Months Ended
Nov. 30, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring, Severance and Related Charges and Liability Activity
Following is a summary of the Company’s restructuring, severance, and related charges (in millions):
 Three months ended
 
November 30, 2024(1)
November 30, 2023(2)
Employee severance and benefit costs$27 $95 
Lease costs3 — 
Asset write-off costs23 22 
Other costs30 10 
Total restructuring, severance and related charges(3)
$83 $127 
(1)Primarily relates to the 2025 Restructuring Plan.
(2)Primarily relates to the 2024 Restructuring Plan.
(3)Includes $21 million and $32 million recorded in the Regulated Industries segment, $29 million and $29 million recorded in the Intelligent Infrastructure segment, $6 million and $47 million recorded in the Connected Living and Digital Commerce segment, and $27 million and $19 million of non-allocated charges for the three months ended November 30, 2024 and 2023, respectively. Except for asset write-off costs, all restructuring, severance and related charges are cash costs. See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for further details on the change in reportable segments.
The table below summarizes the Company’s liability activity, primarily associated with the 2025 Restructuring Plan (in millions):
Employee Severance
and Benefit Costs		Lease CostsAsset Write-off CostsOther Related CostsTotal
Balance as of August 31, 2024
$— $— $— $— $— 
Restructuring related charges26 3 19 26 74 
Asset write-off charge and other non-cash activity— — (19)(3)(22)
Cash payments(5)(3)— (4)(12)
Balance as of November 30, 2024
$21 $— $— $19 $40 
The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):
Employee Severance
and Benefit Costs		Lease CostsAsset Write-off CostsOther Related CostsTotal
Balance as of August 31, 2024
$66 $1 $— $5 $72 
Restructuring related charges1 — 4 4 9 
Asset write-off charge and other non-cash activity— — (4)— (4)
Cash payments(34)— — (5)(39)
Balance as of November 30, 2024
$33 $1 $— $4 $38 
v3.24.4
Income Taxes (Tables)
 3 Months Ended
Nov. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule 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
November 30, 2024November 30, 2023
U.S. federal statutory income tax rate21.0 %21.0 %
Effective income tax rate28.0 %17.6 %
v3.24.4
Earnings Per Share and Dividends (Tables)
 3 Months Ended
Nov. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share Potential shares of common stock not included in the computation of earnings per share because their effect would have been antidilutive or because the performance criterion was not met were as follows (in thousands):
 Three months ended
 November 30, 2024November 30, 2023
Restricted stock units352.3 654.4 
Schedule of Cash Dividends Declared by the Company to Common Stockholders
The following table sets forth cash dividends declared by the Company to common stockholders during the three months ended November 30, 2024, and 2023 (in millions, except for per share data):
Dividend
Declaration Date		Dividend
per Share		Total of Cash Dividends
Declared		Date of Record for
Dividend Payment		Dividend Cash
Payment Date
Fiscal Year 2025:October 17, 2024$0.08 $9 November 15, 2024December 3, 2024
Fiscal Year 2024:October 19, 2023$0.08 $11 November 15, 2023December 4, 2023
v3.24.4
Fair Value Measurements (Tables)
 3 Months Ended
Nov. 30, 2024
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 HierarchyNovember 30, 2024August 31, 2024
Assets:
Cash and cash equivalents:
Cash equivalentsLevel 1
(1)
$352 $303 
Prepaid expenses and other current assets:
Short-term investmentsLevel 126 27 
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
4 11 
Derivatives not designated as hedging instruments (Note 10)
Level 2
(2)
12 25 
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
4 — 
Other assets:
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
1 — 
Liabilities:
Accrued expenses:
Forward foreign exchange contracts:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
$21 $28 
Derivatives not designated as hedging instruments (Note 10)
Level 2
(2)
40 22 
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
— 6 
Other liabilities:
Net investment hedges:
Derivatives designated as hedging instruments (Note 10)
Level 2
(2)
1 5 
(1)Consist of time deposits that are readily convertible to cash with original maturities of 90 days or less.
(2)The Company’s forward foreign exchange contracts, including cash flow hedges and net investment hedges are measured on a recurring basis at fair value, based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers.
Schedule of Carrying Amounts and Fair Values of Notes Payable and Long-term Debt The following table presents the carrying amounts and fair values of the Company's notes payable and long-term debt, by hierarchy level as of the periods indicated (in millions):
November 30, 2024August 31, 2024
Fair Value HierarchyCarrying AmountFair ValueCarrying AmountFair Value
Notes payable and long-term debt: (Note 6)
3.950% Senior Notes
Level 2
(1)
$498 $487 $498 $487 
3.600% Senior Notes
Level 2
(1)
$497 $467 $497 $468 
3.000% Senior Notes
Level 2
(1)
$594 $536 $594 $529 
1.700% Senior Notes
Level 2
(1)
$499 $479 $499 $476 
4.250% Senior Notes
Level 2
(1)
$497 $494 $496 $495 
5.450% Senior Notes
Level 2
(1)
$297 $305 $296 $306 
(1)The fair value estimates are based upon observable market data.
v3.24.4
Trade Accounts Receivable Sale Programs - Schedule of Trade Accounts Receivable Sale Programs Key Terms (Details) - 3 months ended Nov. 30, 2024
USD ($)
CNY (¥)
INR (₨)
A      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 350,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
B      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 120,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
C      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | ¥   ¥ 1,900,000,000  
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
D      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 230,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
E      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 170,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 15 days    
F      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 50,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 15 days    
G      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 100,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
H      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 1,200,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
I      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 250,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
J      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount | ₨     ₨ 8,100,000,000
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
K      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 100,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
L      
Trade Accounts Receivable Securitization and Sale Program [Line Items]      
Maximum amount $ 75,000,000    
Threshold period to cancel trade accounts receivable sale agreement before automatic extension 30 days    
v3.24.4
Trade Accounts Receivable Sale Programs - Trade Accounts Receivable Sale Programs Amounts Recognized (Details) - Trade Accounts Receivable Sale Programs - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Trade Accounts Receivable Securitization and Sale Program [Line Items]    
Trade accounts receivable sold $ 1,686 $ 2,036
Cash proceeds received 1,676 2,025
Pre-tax losses on sale of receivables $ 10 $ 11
v3.24.4
Inventories (Details) - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Inventory Disclosure [Abstract]    
Raw materials $ 3,835 $ 3,903
Work in process 245 190
Finished goods 311 246
Reserve for excess and obsolete inventory (71) (63)
Inventories, net 4,320 4,276
Other assets, current, net revenue components $ 1,100 $ 734
v3.24.4
Leases - Future Minimum Lease Payments under Operating and Finance Leases (Details)
$ in Millions
Nov. 30, 2024
USD ($)
Operating lease obligations  
Total $ 58
Less than 1 year 8
1-3 years 16
3-5 years 11
After 5 years 23
Finance lease obligations  
Total 17
Less than 1 year 12
1-3 years 4
3-5 years 1
After 5 years 0
Leases not yet commenced $ 91
v3.24.4
Goodwill and Other Intangible Assets - Additional Information (Details) - segment
 3 Months Ended 12 Months Ended
Sep. 01, 2024
Nov. 30, 2024
Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]      
Number of operating segments 3 3 2
v3.24.4
Goodwill and Other Intangible Assets - Schedule of Changes in Goodwill Allocated to Reportable Segments (Details)
$ in Millions
 3 Months Ended
Nov. 30, 2024
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 661
Acquisitions and adjustments 15
Change in foreign currency exchange rates (6)
Ending balance 670
Regulated Industries  
Goodwill [Roll Forward]  
Beginning balance 490
Acquisitions and adjustments 0
Change in foreign currency exchange rates (5)
Ending balance 485
Intelligent Infrastructure  
Goodwill [Roll Forward]  
Beginning balance 69
Acquisitions and adjustments 15
Change in foreign currency exchange rates 0
Ending balance 84
Connected Living and Digital Commerce  
Goodwill [Roll Forward]  
Beginning balance 102
Acquisitions and adjustments 0
Change in foreign currency exchange rates (1)
Ending balance $ 101
v3.24.4
Goodwill and Other Intangible Assets - Schedule of Gross Goodwill Balances and Accumulated Impairments (Details) - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Gross Carrying Amount $ 1,690 $ 1,681
Accumulated Impairment $ 1,020 $ 1,020
v3.24.4
Notes Payable and Long-Term Debt - Schedule of Notes Payable and Long-term Debt (Details) - USD ($)
Nov. 30, 2024
Aug. 31, 2024
Debt Instrument [Line Items]    
Total notes payable and long-term debt $ 2,882,000,000 $ 2,880,000,000
Less current installments of notes payable and long-term debt 0 0
Notes payable and long-term debt, less current installments $ 2,882,000,000 2,880,000,000
Senior Notes | 3.950% Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.95%  
Total notes payable and long-term debt $ 498,000,000 498,000,000
Senior Notes | 3.600% Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.60%  
Total notes payable and long-term debt $ 497,000,000 497,000,000
Senior Notes | 3.000% Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate 3.00%  
Total notes payable and long-term debt $ 594,000,000 594,000,000
Senior Notes | 1.700% Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate 1.70%  
Total notes payable and long-term debt $ 499,000,000 499,000,000
Senior Notes | 4.250% Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate 4.25%  
Total notes payable and long-term debt $ 497,000,000 496,000,000
Senior Notes | 5.450% Senior Notes    
Debt Instrument [Line Items]    
Stated interest rate 5.45%  
Total notes payable and long-term debt $ 297,000,000 296,000,000
Line of Credit | Revolving Credit Facility    
Debt Instrument [Line Items]    
Total notes payable and long-term debt 0 0
Available unused borrowing capacity 4,000,000,000.0  
Line of Credit | Term Loan Facility    
Debt Instrument [Line Items]    
Total notes payable and long-term debt 0 $ 0
Line of Credit | Commercial Paper    
Debt Instrument [Line Items]    
Maximum borrowing capacity $ 3,200,000,000  
v3.24.4
Notes Payable and Long-Term Debt - Additional Information (Details) - Senior Notes
Nov. 30, 2024
3.950% Senior Notes  
Debt Instrument [Line Items]  
Stated interest rate 3.95%
3.600% Senior Notes  
Debt Instrument [Line Items]  
Stated interest rate 3.60%
3.000% Senior Notes  
Debt Instrument [Line Items]  
Stated interest rate 3.00%
1.700% Senior Notes  
Debt Instrument [Line Items]  
Stated interest rate 1.70%
4.250% Senior Notes  
Debt Instrument [Line Items]  
Stated interest rate 4.25%
5.450% Senior Notes  
Debt Instrument [Line Items]  
Stated interest rate 5.45%
v3.24.4
Asset-Backed Securitization Program - Additional Information (Details)
Nov. 30, 2024
USD ($)
Transfers and Servicing [Abstract]  
Maximum amount of net cash proceeds $ 700,000,000
Available liquidity under its asset-backed securitization programs (up to) $ 0
v3.24.4
Asset-Backed Securitization Program - Securitization Activity (Details) - Asset-Backed Securitization Program - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Trade Accounts Receivable Securitization and Sale Program [Line Items]    
Trade accounts receivable sold $ 1,067 $ 989
Cash proceeds received 1,055 979
Pre-tax losses on sale of receivables $ 12 $ 10
v3.24.4
Accrued Expenses (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Aug. 31, 2024
Accrued Liabilities, Current [Abstract]      
Inventory deposits $ 1,450   $ 1,582
Contract liabilities 1,077   1,017
Accrued compensation and employee benefits 649   699
Other accrued expenses 2,290   2,201
Accrued expenses 5,466   $ 5,499
Revenue recognized during period that was included in contract liability balance $ 150 $ 161  
v3.24.4
Postretirement and Other Employee Benefits (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Retirement Benefits [Abstract]    
Service cost $ 6 $ 5
Interest cost 3 3
Expected long-term return on plan assets (5) (4)
Recognized actuarial gain 0 (2)
Amortization of actuarial gain 0 (1)
Amortization of prior service cost 1 1
Net periodic benefit cost $ 5 $ 2
Percentage of gain (loss) corridor 10.00%  
v3.24.4
Derivative Financial Instruments and Hedging Activities - Additional Information (Details) - Forward contracts - Forward foreign exchange contracts - Cash flow hedging - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Designated as hedging instruments    
Derivative [Line Items]    
Aggregate notional amount $ 348 $ 353
Not designated as hedging instruments    
Derivative [Line Items]    
Aggregate notional amount $ 2,600 $ 2,600
v3.24.4
Derivative Financial Instruments and Hedging Activities - Schedule of Maturity Date and Aggregate Notional Amount Outstanding of Net Investment Hedges (Details) - Net investment hedges - Forward contracts - Designated as hedging instruments - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
October 2024    
Derivative [Line Items]    
Aggregate notional amount $ 0 $ 140
January 2025    
Derivative [Line Items]    
Aggregate notional amount 103 106
July 2025    
Derivative [Line Items]    
Aggregate notional amount 53 55
October 2025    
Derivative [Line Items]    
Aggregate notional amount 95 0
January 2026    
Derivative [Line Items]    
Aggregate notional amount 102 106
April 2026    
Derivative [Line Items]    
Aggregate notional amount 41 0
Foreign exchange contracts    
Derivative [Line Items]    
Aggregate notional amount $ 394 $ 407
v3.24.4
Derivative Financial Instruments and Hedging Activities - Schedule of Net (Losses) Gains from Forward Contracts Recorded in Consolidated Statements of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Derivative instruments designated as cash flow hedges:    
Loss to be reclassified in next 12 months $ 10  
Derivative instruments designated as net investment hedges:    
Gains (losses) recognized in OCI (15)  
Designated as hedging instruments    
Derivative instruments designated as cash flow hedges:    
(Losses) gains recognized in OCI (12) $ (3)
Designated as hedging instruments | Net investment hedges    
Derivative instruments designated as net investment hedges:    
Gains (losses) recognized in OCI 21 (4)
Designated as hedging instruments | Foreign exchange contracts | Cost of revenue    
Derivative instruments designated as cash flow hedges:    
Losses (gains) reclassified from AOCI into earnings 9 17
Designated as hedging instruments | Interest rate contracts | Interest Income (Expense) Nonoperating    
Derivative instruments designated as cash flow hedges:    
Losses (gains) reclassified from AOCI into earnings (1) (1)
Not designated as hedging instruments | Foreign exchange contracts | Cost of revenue    
Derivative instruments not designated as hedging instruments:    
(Losses) gains recognized in earnings from forward foreign exchange contracts (21) 18
Gains (losses) recognized in earnings from changes in foreign currency $ 10 $ (38)
v3.24.4
Accumulated Other Comprehensive Income - Change in AOCI, Net of Tax (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance $ 1,737 $ 2,867
Other comprehensive (loss) income before reclassifications (15)  
Amounts reclassified from AOCI 9  
Total other comprehensive (loss) income (6) 11
Ending Balance 1,593 2,536
AOCI Attributable to Parent    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (46) (17)
Total other comprehensive (loss) income (6) 11
Ending Balance (52) $ (6)
Foreign Currency Translation Adjustment    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (44)  
Other comprehensive (loss) income before reclassifications (24)  
Amounts reclassified from AOCI 0  
Total other comprehensive (loss) income (24)  
Ending Balance (68)  
Net Investment Hedges    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (24)  
Other comprehensive (loss) income before reclassifications 21  
Amounts reclassified from AOCI 0  
Total other comprehensive (loss) income 21  
Ending Balance (3)  
Derivative Instruments    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance 12  
Other comprehensive (loss) income before reclassifications (12)  
Amounts reclassified from AOCI 8  
Total other comprehensive (loss) income (4)  
Ending Balance 8  
Actuarial Gain    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance 29  
Other comprehensive (loss) income before reclassifications 0  
Amounts reclassified from AOCI 0  
Total other comprehensive (loss) income 0  
Ending Balance 29  
Prior Service (Cost) Credit    
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]    
Beginning Balance (19)  
Other comprehensive (loss) income before reclassifications 0  
Amounts reclassified from AOCI 1  
Total other comprehensive (loss) income 1  
Ending Balance $ (18)  
v3.24.4
Accumulated Other Comprehensive Income - Reclassification from AOCI (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Realized (gains) losses on pension and postretirement plans: $ 20 $ 21
Reclassification out of AOCI | Actuarial gains    
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Realized (gains) losses on pension and postretirement plans: 0 (3)
Reclassification out of AOCI | Prior service costs    
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]    
Realized (gains) losses on pension and postretirement plans: $ 1 $ 1
v3.24.4
Stockholders' Equity - Recognized Stock-Based Compensation (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total $ 44 $ 46
Restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total 40 42
Employee stock purchase plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total $ 4 $ 4
v3.24.4
Stockholders' Equity - Additional Information (Details) - $ / shares
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Dec. 27, 2024
Subsequent event | Amazon com NV Investment Holdings LLC      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of securities called by warrants (in shares)     1,158,539
Exercise price (in usd per share)     $ 137.7671
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) 600,000 400,000  
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) 100,000 100,000  
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) 100,000 100,000  
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 (in shares) 7,098,261    
v3.24.4
Stockholders' Equity - Stock-based Compensation Information (Details)
$ in Millions
 3 Months Ended
Nov. 30, 2024
USD ($)
Share-Based Payment Arrangement [Abstract]  
Unrecognized stock-based compensation expense – restricted stock units $ 99
Remaining weighted-average period for restricted stock units expense 1 year 7 months 6 days
v3.24.4
Stockholders' Equity - Common Stock Outstanding (Details) - shares
 3 Months Ended 15 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Nov. 30, 2024
Common stock outstanding:      
Common stock outstanding, beginning balances (in shares) 113,744,167    
Treasury shares purchased (in shares) (1,800,000) (0.0)  
Common stock outstanding, ending balance (in shares) 111,693,059   111,693,059
Common stock:      
Common stock outstanding:      
Common stock outstanding, beginning balances (in shares) 113,744,167 131,294,422 131,294,422
Vesting of restricted stock (in shares) 1,082,612 1,766,775  
Purchases of treasury stock under employee stock plans (in shares) (323,000) (526,028)  
Treasury shares purchased (in shares) (2,810,720) (3,887,738)  
Common stock outstanding, ending balance (in shares) 111,693,059 128,647,431 111,693,059
v3.24.4
Stockholders' Equity - Schedule of Repurchase of Common Stock under Share Repurchase Program (Details) - USD ($)
shares in Millions
 1 Months Ended 3 Months Ended 4 Months Ended 12 Months Ended 15 Months Ended 21 Months Ended
Sep. 30, 2024
Nov. 30, 2024
Nov. 30, 2023
Jan. 02, 2025
Aug. 31, 2023
Nov. 30, 2024
Feb. 28, 2023
Sep. 30, 2023
Nov. 30, 2022
Aug. 31, 2021
Share Repurchase Program [Line Items]                    
Shares Repurchased (in shares)   1.8 0.0              
Total Cash Utilized   $ 232,000,000 $ 500,000,000              
2022 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized                   $ 1,000,000,000
Shares Repurchased (in shares)             16.5      
Total Cash Utilized             $ 1,000,000,000      
Remaining Authorization             $ 0      
2023 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized               $ 2,500,000,000 $ 1,000,000,000  
Shares Repurchased (in shares)         2.7          
Total Cash Utilized         $ 224,000,000          
Amended 2023 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized     $ 2,500,000,000              
Shares Repurchased (in shares)           20.4        
Total Cash Utilized           $ 2,500,000,000        
Remaining Authorization   0       0        
Additional shares delivered (in shares) 1.0                  
2025 Share Repurchase Program                    
Share Repurchase Program [Line Items]                    
Amount Authorized   1,000,000,000       1,000,000,000        
Remaining Authorization   $ 768,000,000       $ 768,000,000        
2025 Share Repurchase Program | Subsequent event                    
Share Repurchase Program [Line Items]                    
Shares Repurchased (in shares)       4.3            
Total Cash Utilized       $ 636,000,000            
Remaining Authorization       $ 364,000,000            
v3.24.4
Stockholders' Equity - Schedule of Accelerated Share Repurchases Agreement (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
Dec. 31, 2024
Feb. 28, 2025
Nov. 30, 2024
Aug. 31, 2024
Nov. 30, 2023
Nov. 30, 2024
Dec. 01, 2024
Share Repurchase Program [Line Items]              
Total Shares Delivered (in shares)     1.8   0.0    
Payments for repurchase of common stock     $ 232   $ 500    
Accelerated Share Repurchase Program              
Share Repurchase Program [Line Items]              
Agreement Amount       $ 555 $ 500    
Initial Shares Delivered (in shares)       4.2 3.3    
Additional Shares Delivered (in shares)     1.0   0.6    
Total Shares Delivered (in shares)         3.9 5.2  
Average Price Paid Per Share (in dollars per share)         $ 128.61 $ 107.08  
Accelerated Share Repurchase Program | Subsequent event              
Share Repurchase Program [Line Items]              
Agreement Amount             $ 310
Initial Shares Delivered (in shares)   1.8          
Average Price Paid Per Share (in dollars per share)   $ 145.00          
Value of shares repurchased $ 310            
Payments for repurchase of common stock $ 310            
v3.24.4
Stockholders' Equity - Schedule of Common Stock Repurchased through Open Market (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Share Repurchase Program [Line Items]    
Shares Repurchased (in shares) 1.8 0.0
Cost $ 232 $ 0
2025 Share Repurchase Program    
Share Repurchase Program [Line Items]    
Remaining Authorization $ 768  
v3.24.4
Concentration of Risk and Segment Data - Additional Information (Details)
 3 Months Ended 12 Months Ended
Sep. 01, 2024
segment
Nov. 30, 2024
segment
country
Aug. 31, 2024
segment
Revenue, Major Customer [Line Items]      
Number of operating segments | segment 3 3 2
Number of operating countries (more than) | country   30  
Five Largest Customers | Net revenue | Customer Concentration      
Revenue, Major Customer [Line Items]      
Concentration risk   33.00%  
Eighty-Seven Customers | Net revenue | Customer Concentration      
Revenue, Major Customer [Line Items]      
Concentration risk   90.00%  
v3.24.4
Concentration of Risk and Segment Data - Revenues Disaggregated by Segment (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Disaggregation of Revenue [Line Items]    
Net revenue $ 6,994 $ 8,387
Point in time    
Disaggregation of Revenue [Line Items]    
Net revenue 1,696 3,109
Over time    
Disaggregation of Revenue [Line Items]    
Net revenue 5,298 5,278
Regulated Industries    
Disaggregation of Revenue [Line Items]    
Net revenue 2,957 3,192
Regulated Industries | Point in time    
Disaggregation of Revenue [Line Items]    
Net revenue 135 132
Regulated Industries | Over time    
Disaggregation of Revenue [Line Items]    
Net revenue 2,822 3,060
Intelligent Infrastructure    
Disaggregation of Revenue [Line Items]    
Net revenue 2,496 2,368
Intelligent Infrastructure | Point in time    
Disaggregation of Revenue [Line Items]    
Net revenue 1,106 1,077
Intelligent Infrastructure | Over time    
Disaggregation of Revenue [Line Items]    
Net revenue 1,390 1,291
Connected Living and Digital Commerce    
Disaggregation of Revenue [Line Items]    
Net revenue 1,541 2,827
Connected Living and Digital Commerce | Point in time    
Disaggregation of Revenue [Line Items]    
Net revenue 455 1,900
Connected Living and Digital Commerce | Over time    
Disaggregation of Revenue [Line Items]    
Net revenue $ 1,086 $ 927
v3.24.4
Concentration of Risk and Segment Data - Foreign Source Revenue (Details)
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Foreign source revenue | Net revenue | Foreign source revenue    
Concentration Risk [Line Items]    
Concentration risk 80.80% 86.40%
v3.24.4
Concentration of Risk and Segment Data - Schedule of Segment Income and Reconciliation of Income Before Income Tax (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Income $ 139 $ 235
Reconciling items:    
Amortization of intangibles (13) (6)
Stock-based compensation expense and related charges (44) (46)
Restructuring, severance and related charges (83) (127)
Acquisition and divestiture related charges 0 (15)
Interest expense, net (38) (47)
Operating Segments    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Income 347 499
Operating Segments | Regulated Industries    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Income 138 148
Reconciling items:    
Restructuring, severance and related charges (21) (32)
Operating Segments | Intelligent Infrastructure    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Income 120 112
Reconciling items:    
Restructuring, severance and related charges (29) (29)
Operating Segments | Connected Living and Digital Commerce    
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]    
Income 89 239
Reconciling items:    
Restructuring, severance and related charges (6) (47)
Segment Reconciling Items    
Reconciling items:    
Amortization of intangibles (13) (6)
Stock-based compensation expense and related charges (44) (46)
Restructuring, severance and related charges (83) (127)
Business interruption and impairment charges, net (9) 0
Acquisition and divestiture related charges 0 (15)
Other expense (net of periodic benefit cost) (21) (23)
Interest expense, net $ (38) $ (47)
v3.24.4
Concentration of Risk and Segment Data - Schedule of Segment Assets (Details) - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets $ 17,771 $ 17,351
Operating Segments | Regulated Industries    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 5,878 5,855
Operating Segments | Intelligent Infrastructure    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 2,991 2,624
Operating Segments | Connected Living and Digital Commerce    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets 2,242 2,297
Other non-allocated assets    
Segment Reporting, Asset Reconciling Item [Line Items]    
Assets $ 6,660 $ 6,575
v3.24.4
Restructuring, Severance and Related Charges - Schedule of Restructuring, Severance and Related Charges (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges $ 83 $ 127
Operating Segments | Regulated Industries    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges 21 32
Operating Segments | Intelligent Infrastructure    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges 29 29
Operating Segments | Connected Living and Digital Commerce    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges 6 47
Non-allocated charges    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges 27 19
Employee severance and benefit costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges 27 95
Asset write-off costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges 23 22
Other costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring, severance and related charges $ 30 $ 10
v3.24.4
Restructuring, Severance and Related Charges - Additional Information (Details)
$ in Millions
Nov. 30, 2024
USD ($)
2025 Restructuring Plan | Minimum  
Restructuring Cost and Reserve [Line Items]  
Total pre-tax restructuring and other related costs expected to be recognized $ 150
Payments for restructuring, expected cost 100
2025 Restructuring Plan | Maximum  
Restructuring Cost and Reserve [Line Items]  
Total pre-tax restructuring and other related costs expected to be recognized 200
Payments for restructuring, expected cost 130
2024 Restructuring Plan  
Restructuring Cost and Reserve [Line Items]  
Total pre-tax restructuring and other related costs expected to be recognized $ 300
v3.24.4
Restructuring, Severance and Related Charges - Liability Activity (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Restructuring Reserve [Roll Forward]    
Restructuring related charges $ 83 $ 127
Employee Severance and Benefit Costs    
Restructuring Reserve [Roll Forward]    
Restructuring related charges 27 95
Lease Costs    
Restructuring Reserve [Roll Forward]    
Restructuring related charges 3 0
Asset Write-off Costs    
Restructuring Reserve [Roll Forward]    
Restructuring related charges 23 $ 22
2025 Restructuring Plan    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Restructuring related charges 74  
Asset write-off charge and other non-cash activity (22)  
Cash payments (12)  
Ending balance 40  
2025 Restructuring Plan | Employee Severance and Benefit Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Restructuring related charges 26  
Asset write-off charge and other non-cash activity 0  
Cash payments (5)  
Ending balance 21  
2025 Restructuring Plan | Lease Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Restructuring related charges 3  
Asset write-off charge and other non-cash activity 0  
Cash payments (3)  
Ending balance 0  
2025 Restructuring Plan | Asset Write-off Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Restructuring related charges 19  
Asset write-off charge and other non-cash activity (19)  
Cash payments 0  
Ending balance 0  
2025 Restructuring Plan | Other Related Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Restructuring related charges 26  
Asset write-off charge and other non-cash activity (3)  
Cash payments (4)  
Ending balance 19  
2024 Restructuring Plan    
Restructuring Reserve [Roll Forward]    
Beginning balance 72  
Restructuring related charges 9  
Asset write-off charge and other non-cash activity (4)  
Cash payments (39)  
Ending balance 38  
2024 Restructuring Plan | Employee Severance and Benefit Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 66  
Restructuring related charges 1  
Asset write-off charge and other non-cash activity 0  
Cash payments (34)  
Ending balance 33  
2024 Restructuring Plan | Lease Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 1  
Restructuring related charges 0  
Asset write-off charge and other non-cash activity 0  
Cash payments 0  
Ending balance 1  
2024 Restructuring Plan | Asset Write-off Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 0  
Restructuring related charges 4  
Asset write-off charge and other non-cash activity (4)  
Cash payments 0  
Ending balance 0  
2024 Restructuring Plan | Other Related Costs    
Restructuring Reserve [Roll Forward]    
Beginning balance 5  
Restructuring related charges 4  
Asset write-off charge and other non-cash activity 0  
Cash payments (5)  
Ending balance $ 4  
v3.24.4
Income Taxes - Schedule of U.S. Federal Statutory Income Tax Rate Compared to Actual Income Tax Expense (Details)
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Income Tax Disclosure [Abstract]    
U.S. federal statutory income tax rate 21.00% 21.00%
Effective income tax rate 28.00% 17.60%
v3.24.4
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Income Tax Disclosure [Abstract]    
Income tax benefit from lapse of applicable statute of limitations $ 18  
Reversal of valuation allowance   $ 11
Income tax benefit due to audit closure   $ 19
v3.24.4
Earnings Per Share and Dividends - Earnings Per Share (Details) - shares
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
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) 352,300 654,400
v3.24.4
Earnings Per Share and Dividends - Cash Dividends Declared by the Company to Common Stockholders (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Earnings Per Share [Abstract]    
Dividends per Share (in usd per share) $ 0.08 $ 0.08
Total of Cash Dividends Declared $ 9 $ 11
v3.24.4
Business Acquisitions and Divestitures (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 01, 2024
Dec. 29, 2023
Nov. 01, 2023
Aug. 31, 2024
Nov. 30, 2024
Sep. 26, 2023
Business Acquisition [Line Items]            
Goodwill       $ 661 $ 670  
Held for sale | Product Manufacturing Business            
Business Acquisition [Line Items]            
Consideration for the sale of a business           $ 2,200
Derecognized net assets   $ 1,200        
Gain from the divestiture of businesses   $ 942        
Transaction, exit and disposal costs       $ 67    
Mikros Technologies LLC            
Business Acquisition [Line Items]            
Consideration transferred $ 63          
Assets acquired 63          
Intangible assets 40          
Goodwill $ 15          
ProcureAbility Inc.            
Business Acquisition [Line Items]            
Amount of cash paid for business acquisitions     $ 60      
Assets acquired     87      
Intangible assets     40      
Goodwill     38      
Liabilities assumed     $ 26      
v3.24.4
Fair Value Measurements - Schedule of Fair Value of Financial Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Level 1    
Assets:    
Cash equivalents $ 352 $ 303
Short-term investments 26 27
Level 2 | Designated as hedging instruments    
Assets:    
Other assets $ 1 $ 0
Level 2 | Designated as hedging instruments | Foreign exchange contracts    
Assets:    
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets
Derivative assets $ 4 $ 11
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Derivative liability $ 21 $ 28
Level 2 | Designated as hedging instruments | Net investment hedges    
Assets:    
Derivative assets $ 4 $ 0
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other assets Other assets
Derivative liability $ 0 $ 6
Net investment hedges $ 1 $ 5
Level 2 | Not designated as hedging instruments | Foreign exchange contracts    
Assets:    
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets
Derivative assets $ 12 $ 25
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Derivative liability $ 40 $ 22
v3.24.4
Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($)
$ in Millions
Nov. 30, 2024
Aug. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount $ 2,882 $ 2,880
Senior Notes | 3.950% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 3.95%  
Carrying Amount $ 498 498
Senior Notes | 3.600% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 3.60%  
Carrying Amount $ 497 497
Senior Notes | 3.000% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 3.00%  
Carrying Amount $ 594 594
Senior Notes | 1.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 1.70%  
Carrying Amount $ 499 499
Senior Notes | 4.250% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 4.25%  
Carrying Amount $ 497 496
Senior Notes | 5.450% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Stated interest rate 5.45%  
Carrying Amount $ 297 296
Senior Notes | Carrying Amount | Level 2 | 3.950% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 498 498
Senior Notes | Carrying Amount | Level 2 | 3.600% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 497 497
Senior Notes | Carrying Amount | Level 2 | 3.000% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 594 594
Senior Notes | Carrying Amount | Level 2 | 1.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 499 499
Senior Notes | Carrying Amount | Level 2 | 4.250% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 497 496
Senior Notes | Carrying Amount | Level 2 | 5.450% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Carrying Amount 297 296
Senior Notes | Fair Value | Level 2 | 3.950% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 487 487
Senior Notes | Fair Value | Level 2 | 3.600% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 467 468
Senior Notes | Fair Value | Level 2 | 3.000% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 536 529
Senior Notes | Fair Value | Level 2 | 1.700% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 479 476
Senior Notes | Fair Value | Level 2 | 4.250% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value 494 495
Senior Notes | Fair Value | Level 2 | 5.450% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Fair Value $ 305 $ 306