v3.26.1
Derivative Instruments
 9 Months Ended
May 28, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Derivative Instruments
Notional or Contractual Amount
Fair Value(1) of
Assets(2)
Liabilities(3)
As of May 28, 2026
Derivative instruments with hedge accounting designation
Cash flow currency hedges
$4,096 $7 $(106)
Cash flow commodity hedges406 105 (7)
Fair value currency hedges
5,568 19 — 
Derivative instruments without hedge accounting designation
Non-designated currency hedges
12,431 15 (48)
$146 $(161)
As of August 28, 2025
Derivative instruments with hedge accounting designation
Cash flow currency hedges
$3,271 $41 $(64)
Cash flow commodity hedges393 19 (20)
Fair value currency hedges3,049 1 (10)
Derivative instruments without hedge accounting designation
Non-designated currency hedges
3,477 3 (18)
$64 $(112)
(1)Forward and swap contracts are measured at fair value based on market-based observable inputs, including market spot and forward rates, interest rates, and credit-risk spreads (Level 2).
(2)Included in receivables and other noncurrent assets.
(3)Included in accounts payable and accrued expenses and other noncurrent liabilities.

Derivative Instruments with Hedge Accounting Designation

Cash Flow Hedges: We utilize forward contracts that generally mature within two years designated as cash flow hedges to minimize our exposure to changes in currency exchange rates or commodity prices for certain capital expenditures and manufacturing costs.

Fair Value Hedges: We utilize currency forward contracts that generally mature within one year designated as fair value hedges to minimize our exposure to changes in currency exchange rates for non-U.S.-dollar-denominated cash and investments in debt securities. The fair value of our hedged cash and investments in debt securities was $5.54 billion and $3.05 billion as of May 28, 2026 and August 28, 2025, respectively. The changes in the fair values of derivatives designated as fair value hedges and the offsetting changes in the underlying fair values of the hedged items are both recognized in earnings.
Derivative Instruments without Hedge Accounting Designation

Currency Derivatives: We generally utilize a rolling hedge strategy with currency forward contracts that mature within one year to hedge our exposures of monetary assets and liabilities from changes in currency exchange rates. At the end of each reporting period, monetary assets and liabilities denominated in currencies other than the U.S. dollar are remeasured into U.S. dollars and the associated outstanding forward contracts are marked to market. Realized and unrealized gains and losses on derivative instruments without hedge accounting designation, as well as the changes in the underlying monetary assets and liabilities from changes in currency exchange rates, are included in other non-operating income (expense), net.

Gains and losses from our derivative instruments were not material for the periods presented.