v3.26.1
Debt
 9 Months Ended
May 28, 2026
Debt Disclosure [Abstract]  
Debt Debt
As of May 28, 2026As of August 28, 2025
Net Carrying AmountNet Carrying Amount
Stated RateEffective RateCurrentLong-TermTotalCurrentLong-TermTotal
2031 Notes
5.300 %5.41 %$— $261 $261 $— $995 $995 
2032 Green Bonds2.703 %2.77 %— 996 996 — 996 996 
2032 Notes
5.650 %5.79 %— 70 70 — 496 496 
2033 A Notes5.875 %5.96 %— 175 175 — 746 746 
2033 B Notes5.875 %6.01 %— 213 213 — 892 892 
2035 A Notes5.800 %5.90 %— 135 135 — 992 992 
2035 B Notes6.050 %6.14 %— 219 219 — 1,241 1,241 
2041 Notes3.366 %3.41 %— 497 497 — 497 497 
2051 Notes3.477 %3.52 %— 486 486 — 496 496 
2028 NotesN/AN/A— — — — 540 540 
2029 Term Loan AN/AN/A— — — — 982 982 
2029 A NotesN/AN/A— — — — 698 698 
2029 B NotesN/AN/A— — — — 1,168 1,168 
2030 NotesN/AN/A— — — — 794 794 
Finance lease obligations
N/A4.72 %582 2,088 2,670 560 2,484 3,044 
 
$582 $5,140 $5,722 $560 $14,017 $14,577 

As of May 28, 2026, the fair value of our outstanding debt instruments approximated the carrying value of our debt. The fair value of our debt instruments was estimated based on Level 2 inputs, including the trading price of our notes when available, discounted cash flows, and interest rates based on similar debt issued by parties with credit ratings similar to ours.

Debt Activity

The table below presents the effects of debt prepayment activity in the first nine months of 2026:
Transaction Date
Decrease in Principal
Decrease in Carrying Value
Decrease in Cash
Prepayments
2028 Notes
October 24, 2025
$(542)$(541)$(562)
2029 B Notes
October 24, 2025
(1,159)(1,168)(1,276)
2029 Term Loan A
October 27, 2025
(984)(982)(984)
2051 Notes
January 23, 2026(10)(10)(7)
2029 A Notes
February 20, 2026(700)(698)(726)
2030 NotesFebruary 23, 2026(796)(794)(816)
2031 Notes
April 3, 2026
(738)(734)(773)
2032 Notes
April 3, 2026(429)(426)(456)
2033 A Notes
April 3, 2026(574)(571)(616)
2033 B Notes
April 3, 2026(685)(679)(734)
2035 A Notes
April 3, 2026(864)(857)(921)
2035 B Notes
April 3, 2026(1,030)(1,022)(1,114)
$(8,511)$(8,482)$(8,985)

In connection with these prepayments, we recognized losses in other non-operating income (expense) of $323 million and $500 million for the third quarter and first nine months of 2026, respectively.

Revolving Credit Facility

On May 6, 2026, we reduced our borrowing capacity under the Revolving Credit Facility from $3.50 billion to $2.00 billion. As of May 28, 2026, no amounts were outstanding under the Revolving Credit Facility. Borrowing under the Revolving Credit Facility would generally bear interest at a rate equal to adjusted term SOFR plus 0.875% to 1.50%, depending on our corporate credit ratings. Any amounts outstanding under the Revolving Credit Facility would mature on March 12, 2030 and amounts borrowed may be prepaid without penalty. Any obligations under the Revolving Credit Facility would be unsecured.

The Revolving Credit Facility requires us to maintain, on a consolidated basis, a net leverage ratio of total net indebtedness to adjusted EBITDA, as defined in the Revolving Credit Facility agreement and calculated as of the last day of each fiscal quarter, not to exceed 3.25 to 1.00, subject to a temporary four fiscal quarter increase in such maximum ratio to 3.75 to 1.00 following certain material acquisitions.