Monsanto 10-Q 6 Apr 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Feb. 28, 2017	Apr. 03, 2017
Document and Entity Information [Abstract]
Document type	10-Q
Document period end date	Feb. 28, 2017
Amendment flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	MONSANTO CO /NEW/
Entity Central Index Key	1,110,783
Current Fiscal Year End Date	--08-31
Entity Filer Category	Large Accelerated Filer
Entity common stock shares outstanding		438,807,643

Statements of Consolidated Oper

Statements of Consolidated Operations (Unaudited) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Income Statement [Abstract]
Net Sales	[1]	$ 5,074	$ 4,532	$ 7,724	$ 6,751
Cost of goods sold		2,122	1,934	3,513	3,252
Gross Profit		2,952	2,598	4,211	3,499
Operating Expenses:
Selling, general and administrative expenses		657	586	1,242	1,129
Research and development expenses		381	340	751	704
Restructuring charges		23	9	(13)	275
Pending Bayer transaction related costs		27	0	120	0
Total Operating Expenses		1,088	935	2,100	2,108
Income from Operations		1,864	1,663	2,111	1,391
Interest expense		102	103	238	232
Interest income		(18)	(17)	(36)	(37)
Other (income) expense, net		(88)	170	(45)	195
Income from Continuing Operations Before Income Taxes		1,868	1,407	1,954	1,001
Income tax provision		505	350	566	213
Income from Continuing Operations Including Portion Attributable to Noncontrolling Interest		1,363	1,057	1,388	788
Discontinued Operations:
Income from operations of discontinued business		5	4	21	24
Income tax provision		2	1	8	9
Income from Discontinued Operations		3	3	13	15
Net Income		1,366	1,060	1,401	803
Net loss attributable to noncontrolling interest		(2)	(3)	4	(7)
Net Income Attributable to Monsanto Company		1,368	1,063	1,397	810
Amounts Attributable to Monsanto Company:
Income from continuing operations		1,365	1,060	1,384	795
Income from discontinued operations		3	3	13	15
Net Income Attributable to Monsanto Company		$ 1,368	$ 1,063	$ 1,397	$ 810
Basic Earnings per Share Attributable to Monsanto Company:
Income from continuing operations (in dollars per share)		$ 3.11	$ 2.42	$ 3.16	$ 1.78
Income on discontinued operations (in dollars per share)		0.01	0	0.03	0.03
Net Income Attributable to Monsanto Company (in dollars per share)		3.12	2.42	3.19	1.81
Diluted Earnings per Share Attributable to Monsanto Company:
Income from continuing operations (in dollars per share)		3.08	2.40	3.13	1.76
Income on discontinued operations (in dollars per share)		0.01	0.01	0.03	0.04
Net Income Attributable to Monsanto Company (in dollars per share)		$ 3.09	$ 2.41	$ 3.16	$ 1.80
Weighted Average Shares Outstanding:
Basic (in shares)		438.7	438.6	438.4	447.2
Diluted (in shares)		442.3	441.7	442.3	451
Dividends Declared per Share		$ 1.08	$ 1.08	$ 1.08	$ 1.08
[1]	Represents net sales from continuing operations.

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Statement of Comprehensive Income [Abstract]
Net Income	$ 1,366	$ 1,060	$ 1,401	$ 803
Comprehensive Income Attributable to Monsanto Company
Net Income Attributable to Monsanto Company	1,368	1,063	1,397	810
Other Comprehensive Income (Loss), Net of Tax:
Foreign currency translation, net of tax of $1, $(2), $0 and $(1), respectively	171	(37)	(98)	(266)
Postretirement benefit plan activity, net of tax of $6, $4, $12 and $9, respectively	13	6	23	16
Unrealized net losses on investment holdings, net of tax of $0, $0, $1 and $(1), respectively	(1)	0	(2)	(2)
Realized net losses on investment holdings, net of tax of $1, $0, $1 and $0, respectively	1	0	1	0
Unrealized net derivative gains (losses), net of tax of $6, $(17), $21 and $(21), respectively	7	(31)	38	(31)
Realized net derivative losses, net of tax of $4, $21, $19 and $26, respectively	8	29	29	33
Total Other Comprehensive Income (Loss), Net of Tax	199	(33)	(9)	(250)
Comprehensive Income Attributable to Monsanto Company	1,567	1,030	1,388	560
Comprehensive Income (Loss) Attributable to Noncontrolling Interests
Net loss attributable to noncontrolling interest	(2)	(3)	4	(7)
Other Comprehensive Income (Loss)
Foreign currency translation	1	(1)	0	(2)
Total Other Comprehensive Income (Loss)	1	(1)	0	(2)
Comprehensive (Loss) Income Attributable to Noncontrolling Interests	(1)	(4)	4	(9)
Total Comprehensive Income	$ 1,566	$ 1,026	$ 1,392	$ 551

Statements of Consolidated Com4

Statements of Consolidated Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Other Comprehensive Income (Loss), Tax, Parenthetical Disclosures [Abstract]
Foreign currency translation, tax expense (benefit)	$ (1)	$ (2)	$ 0	$ (1)
Postretirement benefit plan activity, tax benefit	6	4	12	9
Unrealized net gains on investment holdings, tax (expense) benefit	0	0	(1)	(1)
Realized net gains on investment holdings, tax (expense) benefit	1	0	1	0
Unrealized net derivative gains (losses), tax (expense) benefit	6	(17)	21	(21)
Realized net derivative (gains) losses, tax (expense) benefit	$ 4	$ 21	$ 19	$ 26

Statements of Consolidated Fina

Statements of Consolidated Financial Position (Unaudited) - USD ($) $ in Millions	Feb. 28, 2017	Aug. 31, 2016
Current Assets:
Cash and cash equivalents (variable interest entity restricted - 2017: $18 and 2016: $20)	$ 2,281	$ 1,676
Short-term investments	10	60
Trade receivables, net (variable interest entity restricted - 2017: $104 and 2016: $95)	2,605	1,926
Miscellaneous receivables	772	755
Inventory, net	3,621	3,241
Assets held for sale	289	272
Other current assets	304	227
Total Current Assets	9,882	8,157
Total property, plant and equipment	11,386	11,116
Less accumulated depreciation	6,051	5,885
Property, Plant and Equipment (variable interest entity restricted - 2017: $0 and 2016: $1)	5,335	5,231
Goodwill	4,010	4,020
Other Intangible Assets, Net	1,072	1,125
Noncurrent Deferred Tax Assets	527	613
Long-Term Receivables, Net	54	101
Other Assets	493	489
Total Assets	21,373	19,736
Current Liabilities:
Short-term debt, including current portion of long-term debt (variable interest entity restricted - 2017: $0 and 2016: $94)	1,611	1,587
Accounts payable (variable interest entity restricted - 2017: $0 and 2016: $7)	785	1,006
Income taxes payable	307	41
Accrued compensation and benefits (variable interest entity restricted - 2017: $0 and 2016 $2)	264	239
Accrued marketing programs	1,563	1,650
Deferred revenue	1,407	568
Grower production accruals	197	47
Dividends payable	237	237
Customer payable	47	123
Restructuring reserves	108	227
Miscellaneous short-term accruals	763	1,004
Total Current Liabilities	7,289	6,729
Long-Term Debt (variable interest entity restricted - 2017: $94 and 2016: $0)	7,560	7,453
Postretirement Liabilities	326	371
Long-Term Deferred Revenue	27	35
Noncurrent Deferred Tax Liabilities	73	68
Long-Term Portion of Environmental and Litigation Liabilities	198	200
Long-Term Restructuring Reserves	21	17
Other Liabilities	325	318
Shareowners’ Equity:
Common stock (authorized: 1,500,000,000 shares, par value $0.01) Issued 609,152,562 and 606,457,369 shares, respectively; Outstanding 468,579,556 and 485,261,017 shares, respectively	6	6
Treasury stock 173,640,113 and 173,640,023 shares, respectively, at cost	(15,053)	(15,053)
Additional contributed capital	11,719	11,626
Retained earnings	11,685	10,763
Accumulated other comprehensive loss	(2,817)	(2,808)
Total Monsanto Company Shareowners’ Equity	5,540	4,534
Noncontrolling Interest	14	11
Total Shareowners’ Equity	5,554	4,545
Total Liabilities and Shareowners’ Equity	$ 21,373	$ 19,736

Statements of Consolidated Fin6

Statements of Consolidated Financial Position (Parenthetical) (Unaudited) - USD ($) $ in Millions	Feb. 28, 2017	Aug. 31, 2016
Current Assets:
Cash and cash equivalents (variable interest entity restricted)	$ 18	$ 122
Trade receivables, net (variable interest entity restricted)	104	7
Short Term Debt Restricted To Consolidated Variable Interest Entities	0	113
Long Term Debt Restricted To Consolidated Variable Interest Entities	$ 106	$ 0
Shareowners’ Equity:
Common Stock, Authorized	1,500,000,000	1,500,000,000
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Issued	612,351,385	611,435,047
Common Stock, Outstanding	438,711,182	437,795,024
Treasury Stock, at Cost	173,640,203	173,640,023

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Operating Activities:
Net Income	$ 1,401	$ 803
Items that did not require (provide) cash:
Depreciation and amortization	372	364
Bad-debt expense	49	25
Stock-based compensation expense	67	69
Excess tax benefits from stock-based compensation	(5)	(8)
Deferred income taxes	54	(1)
Restructuring impairments	20	104
Equity affiliate expense, net	3	3
Net gain on sale of a business or other assets	83	0
Other items	54	88
Changes in assets and liabilities that (required) provided cash, net of acquisitions:
Trade receivables, net	(690)	(275)
Inventory, net	(416)	(384)
Deferred revenue	829	813
Accounts payable and other accrued liabilities	68	(334)
Restructuring, net	(111)	152
Pension contributions	(27)	(13)
Other items, net	(48)	(17)
Net Cash Provided by Operating Activities	1,537	1,389
Cash Flows (Required) Provided by Investing Activities:
Maturities of short-term investments	50	35
Capital expenditures	(543)	(489)
Acquisition of businesses, net of cash acquired	(7)	0
Technology and other investments	(38)	(33)
Other investments and property disposal proceeds	100	4
Net Cash Required by Investing Activities	(438)	(483)
Cash Flows (Required) Provided by Financing Activities:
Net change in financing with less than 90-day maturities	(140)	203
Short-term debt proceeds	18	4
Short-term debt reductions	(11)	(231)
Long-term debt proceeds	600	9
Long-term debt reductions	(510)	(4)
Debt issuance costs	(2)	0
Treasury stock purchases	0	(3,001)
Stock option exercises	37	23
Excess tax benefits from stock-based compensation	5	8
Tax withholding on restricted stock and restricted stock units	(15)	(21)
Dividend payments	(475)	(491)
Payments to noncontrolling interests	(1)	(1)
Net Cash Required by Financing Activities	(494)	(3,502)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0	(55)
Net Increase (Decrease) in Cash and Cash Equivalents	605	(2,651)
Cash and Cash Equivalents at Beginning of Period	1,676	3,701
Cash and Cash Equivalents at End of Period	$ 2,281	$ 1,050

Statements of Consolidated Shar

Statements of Consolidated Shareholders Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Contributed Capital	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss)		NonControlling Interests
Beginning Balance at Aug. 31, 2015	$ 7,005	$ 6	$ (12,053)	$ 11,464	$ 10,374	$ (2,801)	[1]	$ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	1,313				1,336			(23)
Other comprehensive income (loss)	(8)					(7)	[1]	(1)
Treasury Stock Purchases	(3,001)		(3,000)	(1)
Restricted Stock and Restricted Stock Unit Tax Withholding	(24)			(24)
Issuance of Shares Under Employee Stock Plans	81			81
Net Excess Tax Benefits from Stock-based Compensation	11			11
Stock-based Compensation Expense	111			111
Cash dividends per common share ($1.78 for 2014 and $0.98 for 2015)	(947)				(947)
Acquisition of Noncontrolling Interest	10			(16)				26
Payments to Noncontrolling Interest	(6)							(6)
Ending Balance at Aug. 31, 2016	4,545	6	(15,053)	11,626	10,763	(2,808)	[1]	11
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	1,401				1,397			4
Other comprehensive income (loss)	(9)					(9)		0
Issuance of Shares Under Employee Stock Plans	36			36
Restricted Stock and Restricted Stock Unit Tax Withholding	(15)			(15)
Net Excess Tax Benefits from Stock-based Compensation	5			5
Stock-based Compensation Expense	67			67
Cash dividends per common share ($1.78 for 2014 and $0.98 for 2015)	(475)				(475)
Payments to Noncontrolling Interest	(1)							(1)
Ending Balance at Feb. 28, 2017	$ 5,554	$ 6	$ (15,053)	$ 11,719	$ 11,685	$ (2,817)	[1]	$ 14
[1]	See Note 15 — Accumulated Other Comprehensive Loss — for further details of the components of accumulated other comprehensive loss.

Statements of Consolidated Sha9

Statements of Consolidated Shareholders Equity (Parenthetical) (Unaudited) - $ / shares	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends per common share	$ 1.08	$ 1.08	$ 1.08	$ 1.08	$ 2.16

BACKGROUND AND BASIS OF PRESENT

BACKGROUND AND BASIS OF PRESENTATION	6 Months Ended
	Feb. 28, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	BACKGROUND AND BASIS OF PRESENTATION Monsanto Company, along with its subsidiaries, is a leading global provider of agricultural products for farmers. Monsanto’s seeds, biotechnology trait products, herbicides and digital agriculture products provide farmers with solutions that help improve productivity, reduce the costs of farming and produce better food for consumers and better feed for animals. Monsanto manages its business in two reportable segments: Seeds and Genomics and Agricultural Productivity. Through the Seeds and Genomics segment, Monsanto produces leading seed brands, including DEKALB , Asgrow , Deltapine , Seminis and De Ruiter , and Monsanto develops biotechnology traits that assist farmers in controlling insects and weeds and digital agriculture products to assist farmers in decision making. Monsanto also provides other seed companies with genetic material and biotechnology traits for their seed brands. Through the Agricultural Productivity segment, the company manufactures Roundup and Harness brand herbicides and other herbicides. See Note 19 — Segment Information — for further details. In the fourth quarter of 2008, the company announced plans to divest its animal agricultural products business, which focused on dairy cow productivity and was previously reported as part of the Agricultural Productivity segment. This transaction was consummated on Oct. 1, 2008, and included a 10 -year earn-out with potential annual payments being earned by Monsanto if certain revenue levels are exceeded. As a result, financial data for this business has been presented as discontinued operations. On Nov. 2, 2015, the company signed a definitive agreement with Deere & Company (“Deere”) to sell the Precision Planting equipment business which is included in the Seed and Genomics segment for approximately $190 million in cash, subject to customary working capital adjustments. As of Feb. 28, 2017 , and Aug. 31, 2016, Monsanto had $183 million and $172 million of assets held for sale, respectively, and $11 million and $12 million of liabilities held for sale classified within miscellaneous short-term accruals, respectively, on the Statements of Consolidated Financial Position related to this transaction. The assets were primarily related to inventory, net; trade receivables, net; property, plant, and equipment, net; goodwill; and other intangible assets, net, and the liabilities were primarily related to accrued marketing programs and accounts payable. In August 2016, the U.S. Department of Justice filed a lawsuit to block Deere’s acquisition of the Precision Planting equipment business, which Deere is contesting. As a result of this development, the closing date for this transaction is uncertain. In the second quarter of fiscal year 2017, the company divested its European-based silthiofam seed-treatment chemical business previously reported as part of the Agricultural Productivity segment for approximately $140 million in cash, subject to customary working capital adjustments. Approximately $85 million , less the carrying amount of assets sold of approximately $2 million , was recognized within other (income) expense, net in the Statements of Consolidated Operations for the three and six months ended Feb. 28, 2017. The recognition of the remaining $55 million is contingent on silthiofam re-registration within the European Union. The accompanying consolidated financial statements have not been audited but have been prepared in conformity with accounting principles generally accepted in the United States for interim financial information and with instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, these unaudited consolidated financial statements contain all necessary adjustments which are normal and recurring to present fairly the financial position, results of operations and cash flows for the interim periods reported. This Report on Form 10-Q should be read in conjunction with Monsanto’s Report on Form 10-K for the fiscal year ended Aug. 31, 2016 . Financial information for the second quarter and first six months of fiscal year 2017 should not be annualized because of the seasonality of the company’s business.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
	Feb. 28, 2017
NEW ACCOUNTING STANDARDS [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS In February 2017, the Financial Accounting Standards Board (“FASB”) issued accounting guidance, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” which requires the disaggregation of the service cost component from other components of net periodic benefit cost, clarifies how to present the service cost component and other components of net benefit costs in the Statements of Consolidated Operations and allows only the service cost component of net benefit costs to be eligible for capitalization. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with early adoption permitted as of the beginning of a fiscal year for which interim or annual statements have not been issued. Adoption will be applied on a retrospective basis for the presentation of all components of net periodic benefit costs and on a prospective basis for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. Accordingly, Monsanto is required to adopt this standard in the first quarter of fiscal year 2019. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In February 2017, the FASB issued accounting guidance, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sale of Nonfinancial Assets” which clarifies the scope of transactions that are accounted for in accordance with the Other Income topic of the Accounting Standards Codification (“ASC”) as well when these assets would be derecognized. The Other Income topic of the ASC applies to a sale or transfer to a non-customer of nonfinancial assets or financial assets in a contract with substantially all of the fair value concentrated in nonfinancial assets. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with an early adoption of one-year permitted. This guidance is required to be adopted at the same time “Revenue from Contracts with Customers” is adopted. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Statement of Consolidated Financial Position. The method of adoption elected may be different than the method of adoption for “Revenue from Contracts with Customers.” Monsanto is required to adopt this standard in the first quarter of fiscal year 2019.The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In January 2017, the FASB issued accounting guidance, “Simplifying the Test for Goodwill Impairment” which would eliminate the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, the amount of an impairment charge would be recognized if the carrying amount of a reporting unit is greater than its fair value. This standard is effective for annual or any interim goodwill impairments tests in fiscal years beginning after Dec. 15, 2019, with early adoption permitted. Adoption will be applied on a prospective basis. Monsanto is required to adopt this standard in the first quarter of fiscal year 2021. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In January 2017, the FASB issued accounting guidance, “Clarifying the Definition of a Business” which requires an evaluation of whether substantially all fair value of the assets acquired or disposed of is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set of transferred assets and activities is not a business. The guidance also requires a business to include at least one substantive process. Transactions that meet the definition of a business are expected to decrease as a result of the adoption of this guidance. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with early adoption permitted. Adoption will be applied on a prospective basis. Monsanto is required to adopt this standard in the first quarter of fiscal year 2019. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In November 2016, the FASB issued accounting guidance, “Statement of Cash Flows: Restricted Cash” which requires restricted cash and restricted cash equivalents to be classified in the Statements of Cash Flows as cash and cash equivalents. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with early adoption permitted. Adoption will be applied on a retrospective basis to all periods presented. Monsanto is required to adopt this standard in the first quarter of fiscal year 2019. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In October 2016, the FASB issued accounting guidance, “Income Taxes: Intra-Entity Transfers of Assets Other than Inventory” which will require the recognition of income tax effects of intra-entity transfers of assets other than inventory to be recognized when the transfer occurs. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with early adoption permitted as of the beginning of an annual period. Adoption will be applied on a modified retrospective basis. Monsanto is required to adopt the standard in the first quarter of fiscal year 2019. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In August 2016, the FASB issued accounting guidance, “Classification of Certain Cash Receipts and Cash Payments” which clarifies the classification of the activity in the Statements of Consolidated Cash Flows and how the predominant principle should be applied when cash receipts and cash payments have more than one class of cash flows. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with early adoption permitted. Adoption will be applied retrospectively. Monsanto is required to adopt the standard in the first quarter of fiscal year 2019. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In June 2016, the FASB issued accounting guidance, “Measurement of Credit Losses on Financial Instruments” which replaces the incurred loss methodology to record credit losses with a methodology that reflects the expected credit losses for financial assets not accounted for at fair value with gains and losses recognized through net income. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2019, with early adoption permitted for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2018. This standard will be adopted on a modified retrospective basis. Monsanto is required to adopt this standard in the first quarter of fiscal year 2021, with early adoption permitted in the first quarter of fiscal year 2020. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In March 2016, the FASB issued accounting guidance, “Improvements to Employee Share-Based Payment Accounting” which will simplify the income tax consequences, accounting for forfeitures and classification on the Statements of Consolidated Cash Flows. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2016, with early adoption permitted. Monsanto is required to adopt the standard in the first quarter of fiscal year 2018. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In February 2016, the FASB issued accounting guidance, “Leases” which will supersede the existing lease guidance and will require all leases with a term greater than 12 months to be recognized in the Statements of Financial Position and eliminate current real estate-specific lease guidance, while maintaining substantially similar classification criteria for distinguishing between finance leases and operating leases. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2018, with early adoption permitted. This standard will be adopted on a modified retrospective basis. Monsanto is required to adopt the standard in the first quarter of fiscal year 2020. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In January 2016, the FASB issued accounting guidance, “Recognition and Measurement of Financial Assets and Financial Liabilities” which would require equity investments not accounted for as an equity method investment or that result in consolidation to be recorded at their fair value with changes in fair value recognized in the Statements of Consolidated Operations. Those equity investments that do not have a readily determinable fair value may be measured at cost less impairment, if any, plus or minus changes resulting from observable price changes. This standard is effective for fiscal years, and interim periods within those fiscal years, beginning after Dec. 15, 2017, with early adoption prohibited. Monsanto is required to adopt the standard in the first quarter of fiscal year 2019. The company is currently evaluating the impact this guidance will have on the consolidated financial statements and related disclosures. In February 2015, the FASB issued accounting guidance, “Amendments to the Consolidation Analysis” which changes the guidance with respect to the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The new guidance affects the following areas: (1) limited partnerships and similar legal entities, (2) evaluating fees paid to a decision maker or a service provider as a variable interest, (3) the effect of fee arrangements on the primary beneficiary determination, (4) the effect of related parties on the primary beneficiary determination and (5) certain investment funds. This standard is effective for fiscal years, and for interim periods within those fiscal years, beginning after Dec. 15, 2015. Accordingly, Monsanto adopted this standard in the first quarter of fiscal year 2017. The adoption of this guidance did not have an impact on the consolidated financial statements or related disclosures. In May 2014, the FASB issued accounting guidance, “Revenue from Contracts with Customers” which has been further clarified and amended. The core principle of the new standard is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about revenue, provide guidance for transactions that were not previously addressed comprehensively (for example, service revenue and contract modifications) and clarify guidance for multiple-element arrangements. Entities have the option to apply the new guidance under a retrospective approach to each prior reporting period presented or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Statement of Consolidated Financial Position. In August 2015, the FASB amended the guidance to allow for the deferral of the effective date of this standard. The standard is effective for fiscal years, and interim periods within those years, beginning after Dec. 15, 2017. Accordingly, Monsanto is required to adopt this standard in the first quarter of fiscal year 2019. One-year early adoption is permitted. The initial analysis identifying areas that will be impacted by the new guidance is substantially complete, and the company is currently analyzing the potential impacts to the consolidated financial statements and related disclosures. The company believes the most significant impact relates to its accounting for biotechnology trait license revenue with fixed payments. Revenue from seed sales, agricultural chemical products and biotechnology trait licenses recognized as third-party seed companies sell seed is expected to remain substantially unchanged. Specifically, under the new standard, revenue for biotechnology trait license with fixed payments are expected to be recognized upon commencement of the license term rather than over the contract period. Due to complexities of certain biotechnology trait license agreements, the actual revenue recognition treatment under the standard will be dependent upon contract-specific terms and may vary in some instances from recognition upon commencement of the license term. The company has not made a decision on the method of adoption.

RESTRUCTURING

RESTRUCTURING	15 Months Ended
	Nov. 30, 2016
Restructuring and Related Activities [Abstract]
RESTRUCTURING	NOTE 3. RESTRUCTURING Restructuring charges were recorded in the Statements of Consolidated Operations as follows: Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Cost of Goods Sold (1) $ (6 ) $ — $ (7 ) $ (52 ) Restructuring Charges (2) (23 ) (9 ) 13 (275 ) Income from Continuing Operations Before Income Taxes $ (29 ) $ (9 ) $ 6 $ (327 ) Income Tax Provision 15 3 5 111 Net Income $ (14 ) $ (6 ) $ 11 $ (216 ) (1) For the three months ended Feb. 28, 2017 , $6 million of restructuring charges in cost of goods sold was split by segment as follows: $5 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb. 28, 2017, $7 million of restructuring charges in cost of goods sold was split by segment as follows: $6 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb. 29, 2016, $52 million of restructuring charges in cost of goods sold was recorded to the Seeds and Genomics segment. (2) For the three months ended Feb. 28, 2017, $23 million of restructuring charges was split by segment as follows: $22 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the three months ended Feb. 29, 2016, $9 million of restructuring charges was recorded to the Seeds and Genomics segment. For the six months ended Feb. 28, 2017 , the net reversal of previously recognized expense of $13 million was split by segment as follows: $12 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb . 29, 2016, $275 million of restructuring charges was split by segment as follows: $246 million in Seeds and Genomics and $29 million in Agricultural Productivity. On Oct. 6, 2015, the company approved actions to realign resources to increase productivity, enhance competitiveness by delivering cost improvements and support long-term growth. On Jan. 5, 2016, the company approved additional actions which, together with the Oct. 6, 2015 actions, comprise the 2015 Restructuring Plan. Actions include streamlining and reprioritizing some commercial, enabling, supply chain and research and development efforts. Cumulative pretax charges related to the 2015 Restructuring Plan are estimated to be approximately $1 billion . Implementation of the 2015 Restructuring Plan is expected to be completed by the end of fiscal year 2018, and substantially all of the cash payments are expected to be made by the end of fiscal year 2018. These pretax charges are currently estimated to be comprised of the following categories: $375 million to $400 million in work force reductions, including severance and related benefits; $120 million to $140 million in facility closures/exit costs, including contract termination costs; $480 million to $515 million in asset impairments and write-offs related to property, plant and equipment, inventory and goodwill and other assets. These pretax charges are currently estimated to be incurred primarily by the Seeds and Genomics segment. The following tables display the pretax charges incurred by segment under the 2015 Restructuring Plan. Three months ended Feb. 28, 2017 Three months ended Feb. 29, 2016 (Dollars in millions) Seeds and Genomics Agricultural Productivity Total Seeds and Agricultural Total Work Force Reductions $ 2 $ — $ 2 $ — $ — $ — Facility Closures/Exit Costs 8 1 9 4 — 4 Asset Impairments and Write-offs: Property, plant and equipment 18 1 19 5 — 5 Inventory (1 ) — (1 ) — — — Goodwill and other assets — — — — — — Total Restructuring Charges, Net $ 27 $ 2 $ 29 $ 9 $ — $ 9 Six months ended Feb. 28, 2017 Six months ended Feb. 29, 2016 Cumulative Amount through Feb. 28, 2017 (Dollars in millions) Seeds and Genomics Agricultural Productivity Total Seeds and Agricultural Total Seeds and Agricultural Total Work Force Reductions $ (34 ) $ (2 ) $ (36 ) $ 208 $ 9 $ 217 $ 349 $ 21 $ 370 Facility Closures/Exit Costs 10 1 11 6 — 6 33 6 39 Asset Impairments and Write-offs: Property, plant and equipment 19 1 20 29 — 29 141 3 144 Inventory — — — 37 — 37 93 — 93 Goodwill and other assets (1 ) — (1 ) 18 20 38 185 20 205 Total Restructuring Charges, Net $ (6 ) $ — $ (6 ) $ 298 $ 29 $ 327 $ 801 $ 50 $ 851 The company’s written human resource policies are indicative of an ongoing benefit arrangement with respect to severance packages. Benefits paid pursuant to an ongoing benefit arrangement are specifically excluded from the Exit or Disposal Cost Obligations topic of the ASC; therefore, severance charges incurred in connection with the 2015 Restructuring Plan are accounted for when probable and estimable as required under the Compensation - Nonretirement Postemployment Benefits topic of the ASC. In addition, when the decision to commit to a restructuring plan requires a long-lived asset and finite-lived intangible asset impairment review, Monsanto evaluates such impairment issues under the Property, Plant and Equipment topic of the ASC. The three and six months ended Feb. 28, 2017, include the reversal of $12 million and $57 million , respectively, of previously recognized expense due to changes in estimates related to work force reductions. The following table summarizes the activities related to the company’s 2015 Restructuring Plan. (Dollars in millions) Work Force Reductions (1) Facility Closures/Exit Costs (2) Asset Impairments and Write-offs Total Balance as of Aug. 31, 2015 $ 217 $ — $ — $ 217 Net restructuring charges recognized in fiscal year 2016 189 28 147 364 Cash payments (164 ) (28 ) — (192 ) Asset impairments and write-offs — — (147 ) (147 ) Foreign currency impact 2 — — 2 Balance as of Aug. 31, 2016 $ 244 $ — $ — $ 244 Net restructuring charges recognized in first six months of fiscal year 2017 (36 ) 11 19 (6 ) Cash payments (78 ) (8 ) — (86 ) Asset impairments and write-offs — — (19 ) (19 ) Foreign currency impact (4 ) — — (4 ) Balance as of Feb. 28, 2017 $ 126 $ 3 $ — $ 129 (1) The restructuring liability balance included $20 million and $17 million that were recorded in long-term restructuring reserves in the Statements of Consolidated Financial Position as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively. (2) The restructuring liability balance included $1 million that was recorded in long-term restructuring reserves in the Statement of Consolidated Financial Position as of Feb. 28, 2017.

CUSTOMER FINANCING PROGRAMS

CUSTOMER FINANCING PROGRAMS	6 Months Ended
	Feb. 28, 2017
CUSTOMER FINANCING PROGRAMS [Abstract]
CUSTOMER FINANCING PROGRAMS	CUSTOMER FINANCING PROGRAMS Monsanto participates in customer financing programs as follows: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Transactions that Qualify for Sales Treatment U.S. agreement to sell trade receivables (1) Outstanding balance $ 43 $ 511 Maximum future payout under recourse provisions 5 19 European and Latin American agreements to sell trade receivables (2) Outstanding balance $ 9 $ 60 Maximum future payout under recourse provisions 2 35 Agreements with Lenders (3) Outstanding balance $ 120 $ 73 Maximum future payout under the guarantee 90 57 The gross amounts of receivables sold under transactions that qualify for sales treatment were: Gross Amounts of Receivables Sold Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Transactions that Qualify for Sales Treatment U.S. agreement to sell trade receivables (1) $ — $ — $ 115 $ 16 European and Latin American agreements to sell trade receivables (2) 5 11 11 32 (1) Monsanto has agreements in the United States to sell trade receivables, both with and without recourse, up to a maximum outstanding balance of $1.5 billion and to service such accounts. These receivables qualify for sales treatment under the Transfers and Servicing topic of the ASC and, accordingly, the proceeds are included in net cash provided by operating activities in the Statements of Consolidated Cash Flows. The liability for the guarantees for sales with recourse is recorded at an amount that approximates fair value, based upon the company’s historical collection experience and a current assessment of credit exposure. (2) Monsanto has various agreements in European and Latin American countries to sell trade receivables, both with and without recourse. These receivables qualify for sales treatment under the Transfers and Servicing topic of the ASC and, accordingly, the proceeds are included in net cash provided by operating activities in the Statements of Consolidated Cash Flows. The liability for the guarantees for sales with recourse is recorded at an amount that approximates fair value, based upon the company’s historical collection experience and a current assessment of credit exposure. (3) Monsanto has additional agreements with lenders to establish programs that provide financing for select customers in the United States, Latin America and Europe. Monsanto provides various levels of recourse through guarantees of the accounts in the event of customer default. The term of the guarantee is equivalent to the term of the customer loans. The liability for the guarantees is recorded at an amount that approximates fair value, based on the company’s historical collection experience with customers that participate in the program and a current assessment of credit exposure. If performance is required under the guarantee, Monsanto may retain amounts that are subsequently collected from customers. In addition to the arrangements in the above table, Monsanto also participates in a financing program in Brazil that allows Monsanto to transfer up to 350 million Brazilian reais (approximately $113 million as of Feb. 28, 2017 ) for select customers in Brazil to a revolving financing program. Under the arrangement, a recourse provision requires Monsanto to cover the first credit losses within the program up to the amount of the company’s investment. Credit losses above Monsanto’s investment would be covered by senior interests in the entity by a reduction in the fair value of their mandatorily redeemable shares. The company evaluated its relationship with the entity under the guidance within the Consolidation topic of the ASC, and as a result, the entity has been consolidated. For further information on this topic, see Note 5 — Variable Interest Entities and Investments . There were no significant recourse or non-recourse liabilities for all programs as of Feb. 28, 2017 , and Aug. 31, 2016 . There were no significant delinquent loans for all programs as of Feb. 28, 2017 , and Aug. 31, 2016 .

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Feb. 28, 2017
Equity Method Investments and Joint Ventures [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES AND INVESTMENTS Variable Interest Entities On Oct. 19, 2016, Monsanto exited a financing program in Brazil that was recorded as a consolidated variable interest entity (“VIE”). On Nov. 4, 2016, Monsanto entered into a new financing program in Brazil that is recorded as a consolidated VIE. For the most part, the new and previous arrangements of the Brazil VIE consist of a revolving financing program that is funded by investments from the company and other third parties, primarily investment funds, and has been established to service Monsanto’s customer receivables. Under the new arrangement, third parties, primarily investment funds, hold senior interests of 88 percent , and Monsanto holds the remaining 12 percent in the entity as of Feb. 28, 2017 . Under the previous arrangement, as of Aug. 31, 2016 , third parties, primarily investment funds, held senior interest of 89 percent , and Monsanto held the remaining 11 percent interest. Under the new arrangement, the senior interests held by third parties are mandatorily redeemable shares and are included in long-term debt in the Statement of Consolidated Financial Position as of Feb. 28, 2017 . Under the previous arrangement, the senior interests held by third parties were mandatorily redeemable shares and were included in short-term debt in the Statement of Consolidated Financial Position as of Aug. 31, 2016 . Under the new arrangement, Monsanto is required to maintain an investment in the Brazil VIE of at least 11.1 percent and could be required to provide additional contributions to the Brazil VIE. Monsanto currently has no unfunded commitments to the Brazil VIE. Creditors have no recourse against Monsanto in the event of default by the Brazil VIE. The company’s financial or other support provided to the Brazil VIE is limited to its investment. Even though Monsanto holds a subordinate interest in the Brazil VIE, the Brazil VIE was established to service transactions involving the company, and the company determines the receivables that are included in the revolving financing program. Therefore, the determination is that Monsanto has the power to direct the activities most significant to the economic performance of the Brazil VIE. As a result, the company is the primary beneficiary of the Brazil VIE, and the Brazil VIE has been consolidated in Monsanto’s consolidated financial statements. The assets of the Brazil VIE may only be used to settle the obligations of the respective entity. Third-party investors in the Brazil VIE do not have recourse to the general assets of Monsanto. See Note 4 — Customer Financing Programs and Note 11 — Fair Value Measurements — for additional information. Monsanto has entered into an agreement with a third party to establish an entity to focus on research and development (“R&D”) related to agricultural fungicides for agricultural applications. This entity is recorded as a consolidated VIE of Monsanto. Under the arrangement, Monsanto holds a call option to acquire the majority of the equity interests in the R&D VIE from the third-party owner. Monsanto funds the operations of the R&D VIE in return for additional equity interests or to retain the call options. The funding is provided in separate research phases if research milestones are met. The R&D VIE was established to perform agricultural-based R&D activities for the benefit of Monsanto, and Monsanto provides all funding of the R&D VIE’s activities. Further, Monsanto has the power to direct the activities most significant to the R&D VIE. As a result, Monsanto is the primary beneficiary of the R&D VIE, and the R&D VIE is consolidated in Monsanto’s consolidated financial statements. The third-party owner of the R&D VIE do not have recourse to the general assets of Monsanto beyond Monsanto’s maximum exposure to loss at any given time relating to the R&D VIE. Equity Method and Cost Basis Investments Monsanto has equity method and cost basis investments recorded in other assets in the Statements of Consolidated Financial Position. Due to the nature of the cost basis investments, the fair market value is not readily determinable. These investments are reviewed for impairment indicators on a quarterly basis. For such investments that were accounted for under the equity method and cost basis included in other assets in the Statements of Consolidated Financial Position, the amounts are summarized in the following table: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Equity Method Investments $ 148 $ 152 Cost Basis Investments 99 94 Total $ 247 $ 246

RECEIVABLES

RECEIVABLES	6 Months Ended
	Feb. 28, 2017
Receivables [Abstract]
RECEIVABLES	RECEIVABLES Trade receivables in the Statements of Consolidated Financial Position are net of allowances of $101 million and $94 million as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively. The company has long-term customer financing receivables that relate to past due accounts which are not expected to be collected within the current year. The long-term customer receivables were $299 million and $260 million with a corresponding allowance for credit losses on these receivables of $245 million and $228 million as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively. These long-term customer receivable balances and the corresponding allowance are included in long-term receivables, net in the Statements of Consolidated Financial Position. For these long-term customer receivables, interest is no longer accrued when the receivable is determined to be delinquent and classified as long-term based on estimated timing of collection. The following table displays a roll forward of the allowance for credit losses related to long-term customer receivables. (Dollars in millions) Balance as of Aug. 31, 2015 $ 120 Incremental Provision 78 Recoveries (2 ) Write-offs (4 ) Other (1) 36 Balance as of Aug. 31, 2016 $ 228 Incremental Provision 17 Recoveries (14 ) Write-offs (1 ) Other (1) 15 Balance as of Feb. 28, 2017 $ 245 (1) Includes reclassifications from the allowance for current receivables and foreign currency translation adjustments. On an ongoing basis, the company evaluates credit quality of its financing receivables utilizing aging of receivables, collection experience and write-offs, as well as evaluating existing economic conditions, to determine if an allowance is necessary.

INVENTORY

INVENTORY	6 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Components of inventory are: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Finished Goods $ 1,735 $ 1,404 Goods In Process 1,525 1,489 Raw Materials and Supplies 525 498 Inventory at FIFO Cost 3,785 3,391 Excess of FIFO over LIFO Cost (164 ) (150 ) Total $ 3,621 $ 3,241

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Feb. 28, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the net carrying amount of goodwill for the first six months of fiscal year 2017 , by segment, are as follows: (Dollars in millions) Seeds and Genomics Agricultural Productivity Total Balance as of Aug. 31, 2016 $ 3,967 $ 53 $ 4,020 Effect of foreign currency translation and other adjustments (7 ) (3 ) (10 ) Balance as of Feb. 28, 2017 $ 3,960 $ 50 $ 4,010 There were no events or circumstances indicating that goodwill might be impaired as of Feb. 28, 2017 . The fiscal year 2017 annual goodwill impairment test will be performed as of Mar. 1, 2017. Information regarding the company’s other intangible assets is as follows: As of Feb. 28, 2017 As of Aug. 31, 2016 (Dollars in millions) Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Amortization Net Acquired Germplasm $ 1,064 $ (788 ) $ 276 $ 1,070 $ (778 ) $ 292 Acquired Intellectual Property 1,062 (631 ) 431 1,042 (593 ) 449 Trademarks 333 (158 ) 175 334 (152 ) 182 Customer Relationships 296 (227 ) 69 301 (223 ) 78 Other 66 (37 ) 29 65 (33 ) 32 Total Other Intangible Assets, Finite Lives $ 2,821 $ (1,841 ) $ 980 $ 2,812 $ (1,779 ) $ 1,033 In Process Research & Development, Indefinite Lives 92 — 92 92 — 92 Total Other Intangible Assets $ 2,913 $ (1,841 ) $ 1,072 $ 2,904 $ (1,779 ) $ 1,125 Total amortization expense of total other intangible assets was $28 million for the three months ended Feb. 28, 2017 , and Feb. 29, 2016 , and $58 million and $59 million for the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. The estimated intangible asset amortization expense for fiscal year 2017 through fiscal year 2021 is as follows: (Dollars in millions) Amount 2017 $ 134 2018 118 2019 110 2020 107 2021 105

DEFERRED REVENUE

DEFERRED REVENUE	6 Months Ended
	Feb. 28, 2017
Deferred Revenue Disclosure [Abstract]
DEFERRED REVENUE	DEFERRED REVENUE As of Feb. 28, 2017, and Aug. 31, 2016, short-term deferred revenue was $1,407 million and $568 million , respectively. These balances primarily consist of cash received related to Monsanto’s prepayment programs in the United States and Brazil. These programs allow Monsanto’s customers to receive a discount if they prepay by a certain date, and the short-term deferred revenue balances are consistent with the seasonality of Monsanto’s business. Prepayment options are attractive to customers given the discounted pricing and the ability to utilize cash flow from the current year grain harvest to pay for the next season seed purchases. The deferred revenue balances related to these prepayment programs are considered short-term in nature and thus classified in current liabilities as the prepayments are for products to be shipped within the next 12 months.

DEBT AND OTHER CREDIT ARRANGEME

DEBT AND OTHER CREDIT ARRANGEMENTS	6 Months Ended
	Feb. 28, 2017
Debt Disclosure [Abstract]
DEBT AND OTHER CREDIT ARRANGEMENTS	DEBT AND OTHER CREDIT ARRANGEMENTS In April 2016, Monsanto filed a shelf registration with the Securities and Exchange Commission (“SEC”) (“2016 shelf registration”) that allows the company to issue a maximum aggregate amount of $6 billion of debt, equity and hybrid offerings. The 2016 shelf registration expires in April 2019. Monsanto has a $3 billion credit facility agreement that provides a senior unsecured revolving credit facility through Mar. 27, 2020. As of Feb. 28, 2017 , Monsanto was in compliance with all debt covenants, and there were no outstanding borrowings under this credit facility. Monsanto’s short-term debt instruments include commercial paper, the current portion of long-term debt, notes payable to banks and borrowings under the delayed draw term loan facility. As of Feb. 28, 2017 , Monsanto had commercial paper borrowings outstanding of $554 million which are included in short-term debt in the Statement of Consolidated Financial Position. As of Aug. 31, 2016 , there was $500 million of commercial paper borrowings outstanding. Additionally, as of Feb. 28, 2017 , the mandatorily redeemable shares of the Brazil VIE were classified as long-term debt instruments. These instruments were classified as short-term debt as of Aug. 31, 2016 . See Note 5 — Variable Interest Entities and Investments — for additional information. In October 2016, Monsanto closed a $1 billion delayed draw term loan facility that matures the earlier of October 2019 or the consummation of the Merger with Bayer. Borrowings under the facility were $500 million as of Feb. 28, 2017 . Proceeds were used for general corporate purposes. The fair value of total short-term debt was $1,612 million and $1,589 million as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively. The fair value of the total long-term debt was $7,716 million and $7,834 million as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively. See Note 11 — Fair Value Measurements — for additional information.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Feb. 28, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Monsanto determines the fair market value of its financial assets and liabilities based on quoted market prices, estimates from brokers and other appropriate valuation techniques. The company uses the fair value hierarchy established in the Fair Value Measurements and Disclosures topic of the ASC, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The hierarchy contains three levels as follows, with Level 3 representing the lowest level of input. Level 1 — Values based on unadjusted quoted market prices in active markets that are accessible at the measurement date for identical assets and liabilities. Level 2 — Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, discounted cash flow models, or other model-based valuation techniques adjusted, as necessary, for credit risk. Level 3 — Values generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions would reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques could include use of option pricing models, discounted cash flow models and similar techniques. The following tables set forth by level Monsanto’s assets and liabilities disclosed at fair value on a recurring basis as of Feb. 28, 2017 , and Aug. 31, 2016 . As required by the Fair Value Measurements and Disclosures topic of the ASC, assets and liabilities are classified in their entirety based on the lowest level of input that is a significant component of the fair value measurement. Monsanto’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of fair value assets and liabilities within the fair value hierarchy levels. Fair Value Measurements at Feb. 28, 2017, Using (Dollars in millions) Level 1 Level 2 Level 3 Net Balance Assets at Fair Value: Cash equivalents $ 1,768 $ — $ — $ 1,768 Short-term investments 10 — — 10 Equity securities 10 — — 10 Derivative assets related to: Foreign currency contracts — 30 — 30 Commodity contracts 17 3 — 20 Total Assets at Fair Value $ 1,805 $ 33 $ — $ 1,838 Liabilities at Fair Value: Short-term debt instruments (1) $ — $ 1,612 $ — $ 1,612 Long-term debt instruments (1) — 7,611 105 7,716 Derivative liabilities related to: Foreign currency contracts — 4 — 4 Commodity contracts 8 8 — 16 Total Liabilities at Fair Value $ 8 $ 9,235 $ 105 $ 9,348 (1) Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC. Fair Value Measurements at Aug. 31, 2016, Using (Dollars in millions) Level 1 Level 2 Level 3 Net Balance Assets at Fair Value: Cash equivalents $ 1,081 $ — $ — $ 1,081 Short-term investments 60 — — 60 Equity securities 13 — — 13 Derivative assets related to: Foreign currency contracts — 10 — 10 Commodity contracts 9 9 — 18 Total Assets at Fair Value $ 1,163 $ 19 $ — $ 1,182 Liabilities at Fair Value: Short-term debt instruments (1) $ — $ 1,476 $ 113 $ 1,589 Long-term debt instruments (1) — 7,834 — 7,834 Derivative liabilities related to: Foreign currency contracts — 15 — 15 Commodity contracts 32 20 — 52 Interest rate contracts — 41 — 41 Total Liabilities at Fair Value $ 32 $ 9,386 $ 113 $ 9,531 (1) Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC. The company’s derivative contracts are measured at fair value, including forward commodity purchase and sale contracts, exchange-traded commodity futures and option contracts and over-the-counter (“OTC”) instruments related primarily to agricultural commodities, energy and raw materials, interest rates and foreign currencies. Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified as Level 1. Fair value for forward commodity purchase and sale contracts is estimated based on exchange-quoted prices adjusted for differences in local markets. These differences are generally determined using inputs from broker or dealer quotations or market transactions in either the listed or OTC markets and are classified as Level 2. Interest rate contracts consist of interest rate swaps measured using broker or dealer quoted prices. When observable inputs are available for substantially the full term of the contract, it is classified as Level 2. Based on historical experience with the company’s suppliers and customers, the company’s own credit risk and knowledge of current market conditions, the company does not view nonperformance risk to be a significant input to the fair value for the majority of its forward commodity purchase and sale contracts. The effective portions of changes in the fair value of derivatives designated as cash flow hedges are recognized in the Statements of Consolidated Financial Position as a component of accumulated other comprehensive loss until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur. Changes in the fair value of derivatives are recognized in the Statements of Consolidated Operations as a component of net sales, cost of goods sold and other (income) expense, net. The company’s short-term investments consist of cash which is contractually restricted as to withdrawal or usage. The company’s equity securities consist of publicly traded equity investments. Publicly traded equity investments are valued using quoted market prices and are classified as Level 1. Contractually restricted cash may be held in an interest bearing account measured using prevailing interest rates and is classified as Level 1. Short-term debt instruments are classified as Level 2. The company’s long-term debt securities are classified as Level 2 and valued using broker or dealer quoted prices with a maturity greater than one year. Short-term debt instruments may consist of commercial paper, current portion of long-term debt and notes payable to banks. Commercial paper and notes payable to banks are recorded at amortized cost in the Statements of Consolidated Financial Position, which approximates fair value. Current portion of long-term debt is measured at fair value for disclosure purposes and determined based on current market yields for Monsanto’s debt traded in the secondary market. See Note 10 — Debt and Other Credit Arrangements — for additional disclosures. Long-term debt was measured at fair value for disclosure purposes and determined based on current market yields for Monsanto’s debt traded in the secondary market. Long-term debt includes mandatorily redeemable shares. Mandatorily redeemable shares are recorded in the Statements of Consolidated Financial Position at fair value, which represents the amount of cash the consolidated variable interest entity would pay if settlement occurred as of the respective reporting date. Fair value of the mandatorily redeemable shares of the variable interest entity is calculated using observable and unobservable inputs from an interest rate market in Brazil and stated contractual terms (a Level 3 measurement). See Note 10 — Debt and Other Credit Arrangements — for additional disclosures. Accretion expense is included in the Statements of Consolidated Operations as interest expense. For the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , the company had no transfers between Level 1, Level 2 and Level 3. Monsanto does not have any assets with fair value determined using Level 3 inputs as of Feb. 28, 2017 , and Aug. 31, 2016 . The following table summarizes the change in fair value of the Level 3 long-term debt instrument for the six months ended Feb. 28, 2017 . (Dollars in millions) Balance Aug. 31, 2016 $ — Issuance of mandatorily redeemable shares 93 Accretion expense 3 Effect of foreign currency translation adjustments 9 Balance Feb. 28, 2017 (1) $ 105 (1) Includes 315,000 mandatorily redeemable shares outstanding with a par value of 1,000 Brazilian reais (approximately $323 ) as of Feb. 28, 2017 . The following table summarizes the change in fair value of the Level 3 short-term debt instrument for the six months ended Feb. 28, 2017 . (Dollars in millions) Balance Aug. 31, 2016 (1) $ 113 Redemption of mandatorily redeemable shares (103 ) Accretion expense 2 Payments (7 ) Effect of foreign currency translation adjustments (5 ) Balance Feb. 28, 2017 $ — (1) Includes 350,000 mandatorily redeemable shares outstanding with a par value of 1,000 Brazilian reais (approximately $309 ) as of Aug. 31, 2016 . There were no significant measurements of liabilities to their implied fair value on a nonrecurring basis during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 . Significant measurements during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , of assets to their implied fair value on a nonrecurring basis were as follows: Property, Plant and Equipment, Net : During the three and six months ended Feb. 28, 2017 , property, plant and equipment within the Seeds and Genomics segment with a net book value of $18 million was written down to its implied fair value estimate of $7 million , resulting in an impairment charge of $11 million , with $4 million included in cost of goods sold and $7 million included in restructuring charges in the Statement of Consolidated Operations. The implied fair value calculations were performed using a discounted cash flow model (a Level 3 measurement). See Note 3 — Restructuring — for additional disclosures. During the six months ended Feb. 29, 2016 , property, plant and equipment within the Seeds and Genomics segment with a net book value of $44 million was written down to its implied fair value estimate of $15 million , resulting in an impairment charge of $29 million , with $15 million included in cost of goods sold and $14 million included in restructuring charges in the Statement of Consolidated Operations. The implied fair value calculations were performed using a discounted cash flow model (a Level 3 measurement). See Note 3 — Restructuring — for additional disclosures. Other Intangible Assets, Net : During the six months ended Feb. 29, 2016 , other intangible assets within the Seeds and Genomics segment with a net book value of $16 million were written down to their implied fair value of less than $1 million , resulting in an impairment charge of $16 million , with $16 million included in restructuring charges in the Statement of Consolidated Operations. The implied fair value calculations were performed using a discounted cash flow model (a Level 3 measurement). See Note 3 — Restructuring — for additional disclosures. During the six months ended Feb. 29, 2016 , other intangible assets within the Agricultural Productivity segment with a net book value of $20 million were written down to their implied fair value of less than $1 million , resulting in an impairment charge of $20 million , with $20 million included in restructuring charges in the Statement of Consolidated Operations. The implied fair value calculations were performed using a discounted cash flow model (a Level 3 measurement). See Note 3 — Restructuring — for additional disclosures. The recorded amounts of cash, trade receivables, miscellaneous receivables, third-party guarantees, accounts payable, grower production accruals, accrued marketing programs and miscellaneous short-term accruals approximate their fair values as of Feb. 28, 2017 , and Aug. 31, 2016 . Management is ultimately responsible for all fair values presented in the company’s consolidated financial statements. The company performs analysis and review of the information and prices received from third parties to ensure that the prices represent a reasonable estimate of fair value. This process involves quantitative and qualitative analysis. As a result of the analysis, if the company determines there is a more appropriate fair value based upon the available market data, the price received from the third party is adjusted accordingly.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Feb. 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS Cash Flow Hedges The company uses foreign currency options and foreign currency forward contracts as hedges of anticipated sales or purchases denominated in foreign currencies. The company enters into these contracts to protect itself against the risk that the eventual net cash flows will be adversely affected by changes in exchange rates. Monsanto’s commodity price risk management strategy is to use derivative instruments to minimize significant unanticipated earnings fluctuations that may arise from volatility in commodity prices. Price fluctuations in commodities, mainly in corn and soybeans, can cause the actual prices paid to production growers for corn and soybean seeds to differ from anticipated cash outlays. Monsanto generally uses commodity futures and options contracts to manage these risks. Monsanto’s energy and raw material risk management strategy is to use derivative instruments to minimize significant unanticipated manufacturing cost fluctuations that may arise from volatility in natural gas, diesel and ethylene prices. Monsanto’s interest rate risk management strategy is to use derivative instruments, such as forward-starting interest rate swaps and option contracts, to minimize significant unanticipated earnings fluctuations that may arise from volatility in interest rates of the company’s borrowings and to manage the interest rate sensitivity of its debt. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of accumulated other comprehensive loss and reclassified into earnings in the period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. The maximum term over which the company is hedging exposures to the variability of cash flow (for all forecasted transactions) is six months for foreign currency hedges and 33 months for commodity hedges. During the next 12 months, a pretax net loss of approximately $6 million is expected to be reclassified from accumulated other comprehensive loss into earnings. A pretax loss of $37 million was reclassified into other (income) expense, net as a result of the discontinuance of an interest rate hedge during the six months ended Feb. 28, 2017 , because it was probable the original forecasted transaction would not occur by the end of the originally specified time period. A pretax loss of less than $1 million during the three months ended Feb. 28, 2017 , was reclassified into cost of goods sold in the Statement of Consolidated Operations as a result of the discontinuance of foreign currency cash flow hedges because it was probable that the original forecasted transactions would not occur by the end of the originally specified time period. A pretax loss of less than $1 million during the six months ended Feb. 29, 2016 , was reclassified into cost of goods sold in the Statement of Consolidated Operations as a result of the discontinuance of commodity cash flow hedges because it was probable that the original forecasted transaction would not occur by the end of the originally specified time period. No cash flow hedges were discontinued during the three months ended Feb. 29, 2016 . Fair Value Hedges The company uses commodity futures, forwards and options contracts as fair value hedges to manage the value of its soybean inventory and other assets. For derivative instruments that are designated and qualify as fair value hedges, both the gain or loss on the derivative and the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. No fair value hedges were discontinued during the three and six months ended Feb. 28, 2017 , and Feb. 29, 2016 . Derivatives Not Designated as Hedging Instruments The company uses foreign currency contracts to hedge the effects of fluctuations in exchange rates on foreign currency denominated third-party and intercompany receivables and payables. Both the gain or loss on the derivative and the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in current earnings. The company uses commodity option contracts to hedge anticipated cash payments to growers in the United States, Mexico and Brazil, which can fluctuate with changes in commodity price. Because these option contracts do not meet the provisions specified by the Derivatives and Hedging topic of the ASC, they do not qualify for hedge accounting treatment. Accordingly, the gain or loss on these derivatives is recognized in current earnings. To reduce credit exposure in Latin America, Monsanto collects payments on certain customer accounts in grain. Such payments in grain are negotiated at or near the time Monsanto’s products are sold to the customers and are valued at the prevailing grain commodity prices. By entering into forward sales contracts related to grain, Monsanto mitigates the commodity price exposure from the time a contract is signed with a customer until the time a grain merchant collects the grain from the customer on Monsanto’s behalf. The forward sales contracts do not qualify for hedge accounting treatment under the Derivatives and Hedging topic of the ASC. Accordingly, the gain or loss on these derivatives is recognized in current earnings. Monsanto uses interest rate contracts to minimize the variability of forecasted cash flows arising from the company’s consolidated VIE in Brazil. The interest rate contracts do not qualify for hedge accounting treatment under the Derivatives and Hedging Topic of the ASC. Accordingly, the gain or loss on these derivatives is recognized in current earnings. Financial instruments are neither held nor issued by the company for trading purposes. The notional amounts of the company’s derivative instruments outstanding as of Feb. 28, 2017 , and Aug. 31, 2016 , are as follows: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Derivatives Designated as Hedges: Foreign exchange contracts $ 200 $ 388 Commodity contracts 656 484 Interest rate contracts — 150 Total Derivatives Designated as Hedges $ 856 $ 1,022 Derivatives Not Designated as Hedges: Foreign exchange contracts $ 1,581 $ 1,096 Commodity contracts 192 223 Interest rate contracts 87 116 Total Derivatives Not Designated as Hedges $ 1,860 $ 1,435 The net presentation of the company’s derivative instruments outstanding was as follows: As of Feb. 28, 2017 (Dollars in millions) Gross Amounts Recognized Gross Amounts Offset in the Statement of Consolidated Financial Position Net Amounts Included in the Statement of Consolidated Financial Position Collateral Pledged Net Amounts Reported in the Statement of Consolidated Financial Position Other Items Included in the Statement of Consolidated Financial Position Statement of Consolidated Financial Position Balance Asset Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 14 $ (8 ) $ 6 $ — $ 6 Foreign exchange contracts 7 — 7 — 7 Derivatives not designated as hedges: Commodity contracts 3 — 3 — 3 Foreign exchange contracts 23 — 23 — 23 Total other current assets 47 (8 ) 39 — 39 $ 265 $ 304 Other assets Derivatives designated as hedges: Commodity contracts 3 — 3 — 3 Total other assets 3 — 3 — 3 490 493 Total Asset Derivatives $ 50 $ (8 ) $ 42 $ — $ 42 Liability Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 8 $ (8 ) $ — $ — $ — Total other current assets 8 (8 ) — — — Miscellaneous short-term accruals Derivatives designated as hedges: Commodity contracts 8 — 8 — 8 Derivatives not designated as hedges: Foreign exchange contracts 4 — 4 — 4 Total miscellaneous short-term accruals 12 — 12 — 12 $ 751 $ 763 Total Liability Derivatives $ 20 $ (8 ) $ 12 $ — $ 12 (1) As allowed by the Derivatives and Hedging topic of the ASC, derivative assets and liabilities have been offset by collateral subject to an enforceable master netting arrangement or similar arrangement. Therefore, contracts that are in an asset or liability position are included in asset accounts within the Statements of Consolidated Financial Position. As of Aug. 31, 2016 (Dollars in millions) Gross Amounts Recognized Gross Amounts Offset in the Statement of Consolidated Financial Position Net Amounts Included in the Statement of Consolidated Financial Position Collateral Pledged Net Amounts Reported in the Statement of Consolidated Financial Position Other Items Included in the Statement of Consolidated Financial Position Statement of Consolidated Financial Position Balance Asset Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 9 $ (29 ) $ (20 ) $ 20 $ — Foreign exchange contracts 4 — 4 — 4 Derivatives not designated as hedges: Commodity contracts (1) 9 (6 ) 3 — 3 Foreign exchange contracts 6 — 6 — 6 Total other current assets 28 (35 ) (7 ) 20 13 $ 214 $ 227 Other assets Derivatives designated as hedges Commodity contracts (1) — (4 ) (4 ) 4 — Total other assets — (4 ) (4 ) 4 — 489 489 Total Asset Derivatives $ 28 $ (39 ) $ (11 ) $ 24 $ 13 Liability Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 29 $ (29 ) $ — $ — $ — Derivatives not designated as hedges: Commodity contracts (1) 6 (6 ) — — — Total other current assets 35 (35 ) — — — Other assets Derivatives designated as hedges: Commodity contracts (1) 4 (4 ) — — — Total other assets 4 (4 ) — — — Miscellaneous short-term accruals Derivatives designated as hedges: Commodity contracts 11 — 11 — 11 Foreign currency contracts 8 — 8 — 8 Interest rate contracts 41 — 41 — 41 Derivatives not designated as hedges: Foreign exchange contracts 7 — 7 — 7 Total miscellaneous short-term accruals 67 — 67 — 67 $ 937 $ 1,004 Other liabilities Derivatives designated as hedges: Commodity contracts 2 — 2 — 2 Total other liabilities 2 — 2 — 2 316 318 Total Liability Derivatives $ 108 $ (39 ) $ 69 $ — $ 69 (1) As allowed by the Derivatives and Hedging topic of the ASC, commodity derivative assets and liabilities have been offset by collateral subject to an enforceable master netting arrangement or similar arrangement. Therefore, these commodity contracts that are in an asset or liability position are included in asset accounts within the Statements of Consolidated Financial Position. The gains and losses on the company’s derivative instruments were as follows: Amount of Gain (Loss) Recognized in AOCL (1) (Effective Portion) Amount of Gain (Loss) Recognized in Income (2)(3) Three Months Ended Three Months Ended Statements of Consolidated Operations Classification (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Derivatives Designated as Hedges: Fair value hedges: Commodity contracts $ 3 $ 1 Cost of goods sold Cash flow hedges: Foreign currency contracts $ 3 $ 3 3 4 Net sales Foreign currency contracts 1 (6 ) 1 6 Cost of goods sold Commodity contracts 10 (28 ) (12 ) (55 ) Cost of goods sold Interest rate contracts (1 ) (17 ) (4 ) (5 ) Interest expense Total Derivatives Designated as Hedges 13 (48 ) (9 ) (49 ) Derivatives Not Designated as Hedges: Foreign currency contracts (4) 26 31 Other (income) expense, net Commodity contracts 1 — Net sales Total Derivatives Not Designated as Hedges 27 31 Total Derivatives $ 13 $ (48 ) $ 18 $ (18 ) (1) Accumulated other comprehensive loss (AOCL). (2) For derivatives designated as cash flow hedges under the Derivatives and Hedging topic of the ASC, this represents the effective portion of the gain (loss) reclassified from AOCL into income during the period. (3) The gain or loss on derivatives designated as hedges from ineffectiveness is not significant during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 . No gains or losses were excluded from the assessment of hedge effectiveness during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 . (4) Gain or loss on foreign currency contracts not designated as hedges was offset by a foreign currency transaction loss of $21 million and $216 million during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. Amount of Gain (Loss) Recognized in AOCL (1) (Effective Portion) Amount of Gain (Loss) Recognized in Income (2)(3) Six Months Ended Six Months Ended Statements of Consolidated Operations Classification (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Derivatives Designated as Hedges: Fair value hedges: Commodity contracts $ (10 ) $ 1 Cost of goods sold Cash flow hedges: Foreign currency contracts $ 20 $ 5 10 8 Net sales Foreign currency contracts 7 4 2 13 Cost of goods sold Commodity contracts 29 (37 ) (15 ) (72 ) Cost of goods sold Interest rate contracts — — (37 ) — Other (income) expense, net Interest rate contracts 3 (24 ) (8 ) (8 ) Interest expense Total Derivatives Designated as Hedges 59 (52 ) (58 ) (58 ) Derivatives Not Designated as Hedges: Foreign currency contracts (4) (19 ) (24 ) Other (income) expense, net Commodity contracts 1 1 Net sales Commodity contracts (1 ) 1 Cost of goods sold Total Derivatives Not Designated as Hedges (19 ) (22 ) Total Derivatives $ 59 $ (52 ) $ (77 ) $ (80 ) (1) Accumulated other comprehensive loss (AOCL). (2) For derivatives designated as cash flow hedges under the Derivatives and Hedging topic of the ASC, this represents the effective portion of the gain (loss) reclassified from AOCL into income during the period. (3) The gain or loss on derivatives designated as hedges from ineffectiveness is not significant during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 . No gains or losses were excluded from the assessment of hedge effectiveness during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 . (4) Gain or loss on foreign currency contracts not designated as hedges was offset by a foreign currency transaction gain of $18 million and loss of $188 million during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. Most of the company’s outstanding foreign currency derivatives are covered by International Swap and Derivatives Association (“ISDA”) Master Agreements with the counterparties. There are no requirements to post collateral under these agreements; however, should Monsanto’s credit rating fall below a specified rating immediately following the merger of the company with another entity, the counterparty may require all outstanding derivatives under the ISDA Master Agreement to be settled immediately at current market value, which equals carrying value. Foreign currency derivatives that are not covered by ISDA Master Agreements do not have credit-risk-related contingent provisions. Most of Monsanto’s outstanding commodity derivatives are listed commodity futures, and the company is required by the relevant commodity exchange to post collateral each day to cover the change in the fair value of these futures in the case of an unrealized loss position. Non-exchange-traded commodity derivatives and interest rate contracts may be covered by the aforementioned ISDA Master Agreements and would be subject to the same credit-risk-related contingent provisions. The aggregate fair value of all derivative instruments under ISDA Master Agreements that are in a liability position was $8 million and $63 million as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively, which is the amount that would be required for settlement if the credit-risk-related contingent provisions underlying these agreements were triggered. Credit Risk Management Monsanto invests excess cash in deposits with major banks or money market funds throughout the world in high-quality short-term debt instruments. Such investments are made only in instruments issued or enhanced by high-quality institutions. As of Feb. 28, 2017 , and Aug. 31, 2016 , the company had no financial instruments that represented a significant concentration of credit risk. Limited amounts are invested in any single institution to minimize risk. The company has not incurred any credit risk losses related to those investments. The company sells a broad range of agricultural products to a diverse group of customers throughout the world. In the United States, the company makes substantial sales to relatively few large wholesale customers. The company’s business is highly seasonal and is subject to weather conditions that affect commodity prices and seed yields. Credit limits, ongoing credit evaluation and account monitoring procedures are used to minimize the risk of loss. Collateral is secured when it is deemed appropriate by the company. Monsanto regularly evaluates its business practices to minimize its credit risk and periodically engages multiple banks in the United States, Latin America and Europe in the development of customer financing options that involve direct bank financing of customer purchases. For further information on these programs, see Note 4 — Customer Financing Programs .

POSTRETIREMENT BENEFITS - PENSI

POSTRETIREMENT BENEFITS - PENSIONS, HEALTH CARE AND OTHER	6 Months Ended
	Feb. 28, 2017
Compensation and Retirement Disclosure [Abstract]
POSTRETIREMENT BENEFITS-PENSIONS, HEALTH CARE AND OTHER	POSTRETIREMENT BENEFITS — PENSIONS, HEALTH CARE AND OTHER Monsanto maintains noncontributory pension plans for the benefit of its U.S. employees. Effective Jul. 8, 2012, the U.S. pension plans were closed to new entrants; there were no significant changes to these plans for eligible employees hired prior to that date. The company also provides certain postretirement health care and life insurance benefits for eligible retired employees and certain pension plan benefits outside the U.S. The company’s net periodic benefit cost for pension benefits and health care and other postretirement benefits include the following components: Pension Benefits Three Months Ended Feb. 28, 2017 Three Months Ended Feb. 29, 2016 (Dollars in millions) U.S. Outside the U.S. Total U.S. Outside the U.S. Total Service Cost for Benefits Earned During the Period $ 15 $ 3 $ 18 $ 16 $ 3 $ 19 Interest Cost on Benefit Obligation 20 1 21 25 2 27 Assumed Return on Plan Assets (43 ) (2 ) (45 ) (40 ) (2 ) (42 ) Amortization of Unrecognized Net Loss 12 1 13 12 1 13 Restructuring Charges — 2 2 — — — Total Net Periodic Benefit Cost $ 4 $ 5 $ 9 $ 13 $ 4 $ 17 Pension Benefits Six Months Ended Feb. 28, 2017 Six Months Ended Feb. 29, 2016 (Dollars in millions) U.S. Outside the U.S. Total U.S. Outside the U.S. Total Service Cost for Benefits Earned During the Period $ 30 $ 6 $ 36 $ 32 $ 6 $ 38 Interest Cost on Benefit Obligation 41 3 44 49 4 53 Assumed Return on Plan Assets (85 ) (4 ) (89 ) (79 ) (4 ) (83 ) Amortization of Unrecognized Net Loss 24 2 26 24 2 26 Restructuring Charges — 2 2 — — — Total Net Periodic Benefit Cost $ 10 $ 9 $ 19 $ 26 $ 8 $ 34 Health Care and Other Postretirement Benefits Three Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Service Cost for Benefits Earned During the Period $ 2 $ 2 Interest Cost on Benefit Obligation 1 1 Amortization of Unrecognized Net Loss/(Gain) 2 (1 ) Restructuring Charges 2 — Total Net Periodic Benefit Cost $ 7 $ 2 Health Care and Other Postretirement Benefits Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Service Cost for Benefits Earned During the Period $ 3 $ 3 Interest Cost on Benefit Obligation 2 3 Amortization of Unrecognized Net Loss/(Gain) 3 (2 ) Restructuring Charges 2 — Total Net Periodic Benefit Cost $ 10 $ 4

STOCK BASED COMPENSATION PLANS

STOCK BASED COMPENSATION PLANS STOCK BASED COMPENSATION PLANS	6 Months Ended
	Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK BASED COMPENSATION PLANS	STOCK-BASED COMPENSATION PLANS The following table shows total stock-based compensation expense included in the Statements of Consolidated Operations for the three and six months ended Feb. 28, 2017 , and Feb. 29, 2016 . Three Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Cost of Goods Sold $ 4 $ 3 Selling, General and Administrative Expenses 19 21 Research and Development Expenses 7 8 Pre-Tax Stock-Based Compensation Expense 30 32 Income Tax Benefit (10 ) (11 ) Net Stock-Based Compensation Expense $ 20 $ 21 Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Cost of Goods Sold $ 7 $ 7 Selling, General and Administrative Expenses 45 46 Research and Development Expenses 13 16 Restructuring Charges 1 — Pre-Tax Stock-Based Compensation Expense 66 69 Income Tax Benefit (23 ) (23 ) Net Stock-Based Compensation Expense $ 43 $ 46

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Feb. 28, 2017
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table sets forth the after-tax components of accumulated other comprehensive loss and changes thereto: (Dollars in millions) Foreign Currency Translation Adjustments Postretirement Benefit Items Net Unrealized Gain (Loss) on Available-for-Sale Securities Cash Flow Hedges Total Accumulated Other Comprehensive (Loss) Income Balance as of Aug. 31, 2015 $ (2,327 ) $ (286 ) $ 2 $ (190 ) $ (2,801 ) Other comprehensive income (loss) before reclassifications 35 (83 ) (2 ) (42 ) (92 ) Amounts reclassified from accumulated other comprehensive loss — 29 1 55 85 Net current-period other comprehensive income (loss) 35 (54 ) (1 ) 13 (7 ) Balance as of Aug. 31, 2016 $ (2,292 ) $ (340 ) $ 1 $ (177 ) $ (2,808 ) Other comprehensive (loss) income before reclassifications (98 ) — (2 ) 38 (62 ) Amounts reclassified from accumulated other comprehensive loss — 23 1 29 53 Net current-period other comprehensive (loss) income (98 ) 23 (1 ) 67 (9 ) Balance as of Feb. 28, 2017 $ (2,390 ) $ (317 ) $ — $ (110 ) $ (2,817 ) The following table provides additional information regarding items reclassified out of accumulated other comprehensive loss into earnings. Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Affected Line Item in the Statements of Consolidated Operations Available for Sale Securities: Loss on Equity Security $ 2 $ — $ 2 $ — Other (income) expense, net 2 — 2 — Total before income taxes (1 ) — (1 ) — Income tax provision $ 1 $ — $ 1 $ — Net of tax Cash Flow Hedges: Foreign Exchange Contracts $ (3 ) $ (4 ) $ (10 ) $ (8 ) Net sales Foreign Exchange Contracts (1 ) (6 ) (2 ) (13 ) Cost of goods sold Commodity Contracts 12 55 15 72 Cost of goods sold Interest Rate Contracts — — 37 — Other (income) expense, net Interest Rate Contracts 4 5 8 8 Interest expense 12 50 48 59 Total before income taxes (4 ) (21 ) (19 ) (26 ) Income tax provision $ 8 $ 29 $ 29 $ 33 Net of tax Postretirement Benefit Items: Amortization of Unrecognized Net Loss $ 5 $ 4 $ 11 $ 8 Inventory/Cost of goods sold (1) Amortization of Unrecognized Net Loss 10 8 20 16 Selling, general and administrative expenses Amortization of Unrecognized Net Loss 4 — 4 — Restructuring charges 19 12 35 24 Total before income taxes (6 ) (5 ) (12 ) (8 ) Income tax provision $ 13 $ 7 $ 23 $ 16 Net of tax Total Reclassifications For The Period $ 22 $ 36 $ 53 $ 49 Net of tax (1) The amortization of unrecognized net loss is recorded to net periodic benefit cost, which is allocated to selling, general and administrative expenses and to inventory, which is recognized through cost of goods sold. The company recorded $5 million and $4 million of net periodic benefit cost to inventory, of which approximately $3 million and $2 million was recognized in cost of goods sold during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. The company recorded $11 million and $8 million of net periodic benefit cost to inventory, of which approximately $10 million and $7 million was recognized in cost of goods sold during the six months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. See Note 13 — Postretirement Benefits - Pensions, Health Care and Other — for additional information.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Feb. 28, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share (“EPS”) was computed using the weighted-average number of common shares outstanding during the periods shown in the table below. The diluted EPS computation takes into account the effect of dilutive potential common shares when in a net income position. Potential common shares consist primarily of stock options, restricted stock, restricted stock units and directors’ deferred shares calculated using the treasury stock method and are excluded if their effect is antidilutive. Of those antidilutive options, certain options were excluded from the computations of dilutive potential common shares as their exercise prices were greater than the average market price of the common shares for the period. Three Months Ended Six Months Ended (Shares in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Weighted-Average Number of Common Shares 438.7 438.6 438.4 447.2 Dilutive Potential Common Shares 3.6 3.1 3.9 3.8 Antidilutive Potential Common Shares 2.2 5.6 4.0 5.0 Shares Excluded From Computation of Dilutive Potential Shares with Exercise Prices Greater than the Average Market Price of Common Shares for the Period 1.7 3.2 3.1 3.2

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Feb. 28, 2017
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Cash payments for interest and taxes were as follows: Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Interest $ 225 $ 201 Taxes 187 285 During the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , the company recorded the following noncash transactions: • During the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , the company recognized noncash transactions related to restructuring. See Note 3 — Restructuring . • As of Feb. 28, 2017 , and Feb. 29, 2016 , the company recognized noncash capital expenditures of $117 million and $68 million , respectively, in accounts payable in the Statements of Consolidated Financial Position. • During the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , the company recognized noncash transactions related to stock-based compensation. See Note 14 — Stock-Based Compensation Plans . • In the second quarter of 2017 and 2016 , the board of directors declared a dividend which is payable in the third quarter of 2017 and 2016 , respectively. As of Feb. 28, 2017 , and Feb. 29, 2016 , a dividend payable of $ 237 million and $236 million , respectively, was recorded.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental and Litigation Liabilities: Monsanto is involved in environmental remediation and legal proceedings to which Monsanto is party in its own name and proceedings to which its former parent, Pharmacia LLC (“Pharmacia”), or its former subsidiary, Solutia, Inc. (“Solutia”), is a party but that Monsanto manages and for which Monsanto is responsible pursuant to certain indemnification agreements. In addition, Monsanto has liabilities established for various product claims. With respect to certain of these proceedings, Monsanto has a liability recorded of $272 million and $545 million as of Feb. 28, 2017 , and Aug. 31, 2016 , respectively, for the estimated contingent liabilities. Information regarding the environmental liabilities appears in Monsanto’s Report on Form 10-K for the fiscal year ended Aug. 31, 2016 . Litigation: The above liability includes amounts related to certain third-party litigation with respect to Monsanto’s business, as well as tort litigation related to Pharmacia’s former chemical business, including lawsuits involving polychlorinated biphenyls (“PCBs”), dioxins, and other chemical and premises liability litigation. Additional matters that are not reflected in the liability may arise in the future, and Monsanto may manage, settle, or pay judgments or damages with respect thereto in order to mitigate contesting potential liability. Following is a description of one of the more significant litigation matters. As described in Monsanto’s Report on Form 10-K for the fiscal year ended Aug. 31, 2016, and our Report on Form 10-Q for the quarterly period ended Nov. 30, 2016, the company was named in approximately 30 personal injury lawsuits filed over several years on behalf of approximately 750 persons in state courts in St. Louis, Missouri and Los Angeles, California. Plaintiffs claimed they were injured by PCBs manufactured by Pharmacia’s chemical business over four decades ago and incorporated into products made, used and sometimes disposed of by others. In September 2016, the parties reached an agreement to settle these personal injury lawsuits pursuant to which the company is required to pay up to $280 million into a settlement fund, with the settlement and the final payment amount contingent upon the level of claimant participation. As of Aug. 31, 2016, $280 million was recorded in the Statement of Consolidated Financial Position within miscellaneous short-term accruals; the related expense was included in selling, general and administrative expenses in the Statement of Consolidated Operations. In November 2016 and December 2016, the first and second claimant participation levels were met, and the company paid $250 million and $25 million respectively, into the settlement fund. In February 2017, a pro rata portion of the final claimant participation level was met, and a payment of approximately $4 million was made in April 2017. The company also has been named in lawsuits brought by various governmental entities claiming that Monsanto, Pharmacia and Solutia, collectively as a manufacturer of PCBs, should be responsible for a variety of damages due to PCBs in bodies of water, regardless of how PCBs came to be located there. The company believes that these novel claims are without merit and is vigorously defending the cases on legal and factual grounds. Including litigation reflected in the liability, Monsanto is involved in various legal proceedings that arise in the ordinary course of its business or pursuant to Monsanto’s indemnification obligations to Pharmacia, as well as proceedings that management has considered to be material under SEC regulations. Some of the lawsuits seek damages in very large amounts or seek to restrict the company’s business activities. Monsanto believes that it has meritorious legal arguments and will continue to represent its interests vigorously in all of the proceedings that it is defending or prosecuting. Management does not anticipate the ultimate liabilities resulting from such proceedings, or the proceedings reflected in the above liability, will have a material adverse effect on Monsanto’s consolidated results of operations, financial position, cash flows or liquidity. The company is defending lawsuits in various state and federal courts, in which approximately 1,100 plaintiffs claim to have been injured by exposure to glyphosate-based products manufactured by the company. The majority of plaintiffs have brought actions in state courts in Missouri, Delaware and California, while the remainder of plaintiffs’ cases were filed in many different federal courts. In October 2016, the Judicial Panel on Multi-District Litigation transferred to the Northern District of California all of the federal cases for pretrial purposes. The company believes that it has meritorious factual and legal defenses to these cases and is vigorously defending them. Legal actions have been filed in Brazil that raise various issues challenging the right to collect certain royalties for Roundup Ready soybeans, such as whether Brazilian pipeline patents have the duration of their corresponding U.S. patents (2014 for Roundup Ready soybeans) and whether Brazil’s Plant Variety Protection law affects the enforceability of patents. These issues are currently under judicial review in Brazil. Monsanto believes it has meritorious legal arguments and will continue to represent its interests vigorously in these proceedings. The current estimate of the company’s reasonably possible loss contingency is not material to consolidated results of operations, financial position, cash flows or liquidity. Guarantees: Disclosures regarding the guarantees Monsanto provides for certain customer loans in the United States, Latin America and Europe can be found in Note 4 — Customer Financing Programs — of this Form 10-Q. Except as described in that note, there have been no significant changes to guarantees made by Monsanto since Aug. 31, 2016 . Disclosures regarding these guarantees made by Monsanto can be found in Note 24 — Commitments and Contingencies — of the notes to the consolidated financial statements contained in Monsanto’s Report on Form 10-K for the fiscal year ended Aug. 31, 2016 . Off-Balance Sheet Arrangement: Monsanto is in the process of making a significant expansion of its Chesterfield, Missouri facility. In December 2013, Monsanto executed the first of a series of incentive agreements with the County of St. Louis, Missouri. Under these agreements Monsanto has transferred the Chesterfield, Missouri facility to St. Louis County and received Industrial Revenue Bonds in the amount of up to $470 million , which enables the company to reduce the cost of constructing and operating the expansion by reducing certain state and local tax expenditures. Monsanto immediately leased the facility from the County of St. Louis and has an option to purchase the facility upon tendering the Industrial Revenue Bonds received to the County. The payments due to the company in relation to the Industrial Revenue Bonds and owed by the company in relation to the lease of the facility qualify for the right of offset under ASC 210, Balance Sheet , in the Statements of Consolidated Financial Position. As such, neither the Industrial Revenue Bonds nor the lease obligation are recorded in the Statements of Consolidated Financial Position as an asset or liability, respectively. The Chesterfield facility and the expansion are being treated as being owned by Monsanto.

SEGMENT AND GEOGRAPHIC DATA

SEGMENT AND GEOGRAPHIC DATA	6 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Monsanto conducts its worldwide operations through global businesses, which are aggregated into reportable segments based on similarity of products, production processes, customers, distribution methods and economic characteristics. The operating segments are aggregated into two reportable segments: Seeds and Genomics and Agricultural Productivity. The Seeds and Genomics segment consists of the global seeds and related traits businesses, biotechnology platforms and digital agriculture. Within the Seeds and Genomics segment, Monsanto’s significant operating segments are corn seed and traits, soybean seed and traits, cotton seed and traits, vegetable seeds and all other crops seeds and traits. The Agricultural Productivity reportable segment consists of the Agricultural Productivity operating segment. EBIT is defined as earnings (loss) before interest and taxes and is an operating performance measure for the two reportable segments. EBIT is useful to management in demonstrating the operational profitability of the segments by excluding interest and taxes, which are generally accounted for across the entire company on a consolidated basis. Sales between segments were not significant. Certain selling, general and administrative expenses (“SG&A”) are allocated between segments based on the segment’s relative contribution to total Monsanto operations. Allocation percentages remain consistent for fiscal years 2016 and 2017 . Data for the Seeds and Genomics and Agricultural Productivity reportable segments, as well as for Monsanto’s significant operating segments, is presented in the table as follows: Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Net Sales (1) Corn seed and traits $ 2,902 $ 2,687 $ 3,851 $ 3,432 Soybean seed and traits 862 782 1,462 1,220 Cotton seed and traits 108 37 224 85 Vegetable seeds 193 192 324 330 All other crops seeds and traits 121 119 173 149 Total Seeds and Genomics $ 4,186 $ 3,817 $ 6,034 $ 5,216 Agricultural productivity 888 715 1,690 1,535 Total Agricultural Productivity $ 888 $ 715 $ 1,690 $ 1,535 Total $ 5,074 $ 4,532 $ 7,724 $ 6,751 Gross Profit Corn seed and traits $ 1,932 $ 1,721 $ 2,467 $ 2,087 Soybean seed and traits 628 527 1,079 829 Cotton seed and traits 77 18 150 43 Vegetable seeds 99 96 168 136 All other crops seeds and traits 41 66 53 61 Total Seeds and Genomics $ 2,777 $ 2,428 $ 3,917 $ 3,156 Agricultural productivity 175 170 294 343 Total Agricultural Productivity $ 175 $ 170 $ 294 $ 343 Total $ 2,952 $ 2,598 $ 4,211 $ 3,499 EBIT (2)(3) Seeds and Genomics $ 1,839 $ 1,497 $ 2,038 $ 1,164 Agricultural Productivity 119 7 132 66 Total $ 1,958 $ 1,504 $ 2,170 $ 1,230 Depreciation and Amortization Expense Seeds and Genomics $ 142 $ 152 $ 285 $ 300 Agricultural Productivity 41 32 87 64 Total $ 183 $ 184 $ 372 $ 364 (1) Represents net sales from continuing operations. (2) EBIT is defined as earnings (loss) before interest and taxes; see the following table for reconciliation. Earnings (loss) is intended to mean net income (loss) attributable to Monsanto Company as presented in the Statements of Consolidated Operations under U.S. GAAP. EBIT is an operating performance measure for the two reportable segments. (3) Agricultural Productivity EBIT includes income from operations of discontinued businesses of $5 million and $4 million for the three months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. Agricultural Productivity EBIT includes income from operations of discontinued businesses of $21 million and $24 million for the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. A reconciliation of EBIT to net income attributable to Monsanto Company for each period is as follows: Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 EBIT (1) $ 1,958 $ 1,504 $ 2,170 $ 1,230 Interest Expense — Net 84 86 202 195 Income Tax Provision (2) 506 355 571 225 Net Income Attributable to Monsanto Company $ 1,368 $ 1,063 $ 1,397 $ 810 (1) Includes the income from operations of discontinued businesses and the (loss) income from operations of noncontrolling interests. (2) Includes the income tax provision on discontinued operations and the income tax (benefit) expense of noncontrolling interest.

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended	15 Months Ended
	Feb. 28, 2017	Nov. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Restructuring charges were recorded in the Statements of Consolidated Operations as follows: Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Cost of Goods Sold (1) $ (6 ) $ — $ (7 ) $ (52 ) Restructuring Charges (2) (23 ) (9 ) 13 (275 ) Income from Continuing Operations Before Income Taxes $ (29 ) $ (9 ) $ 6 $ (327 ) Income Tax Provision 15 3 5 111 Net Income $ (14 ) $ (6 ) $ 11 $ (216 )	The following tables display the pretax charges incurred by segment under the 2015 Restructuring Plan. Three months ended Feb. 28, 2017 Three months ended Feb. 29, 2016 (Dollars in millions) Seeds and Genomics Agricultural Productivity Total Seeds and Agricultural Total Work Force Reductions $ 2 $ — $ 2 $ — $ — $ — Facility Closures/Exit Costs 8 1 9 4 — 4 Asset Impairments and Write-offs: Property, plant and equipment 18 1 19 5 — 5 Inventory (1 ) — (1 ) — — — Goodwill and other assets — — — — — — Total Restructuring Charges, Net $ 27 $ 2 $ 29 $ 9 $ — $ 9 Six months ended Feb. 28, 2017 Six months ended Feb. 29, 2016 Cumulative Amount through Feb. 28, 2017 (Dollars in millions) Seeds and Genomics Agricultural Productivity Total Seeds and Agricultural Total Seeds and Agricultural Total Work Force Reductions $ (34 ) $ (2 ) $ (36 ) $ 208 $ 9 $ 217 $ 349 $ 21 $ 370 Facility Closures/Exit Costs 10 1 11 6 — 6 33 6 39 Asset Impairments and Write-offs: Property, plant and equipment 19 1 20 29 — 29 141 3 144 Inventory — — — 37 — 37 93 — 93 Goodwill and other assets (1 ) — (1 ) 18 20 38 185 20 205 Total Restructuring Charges, Net $ (6 ) $ — $ (6 ) $ 298 $ 29 $ 327 $ 801 $ 50 $ 851
Schedule of Restructuring Reserve by Type of Cost		The following table summarizes the activities related to the company’s 2015 Restructuring Plan. (Dollars in millions) Work Force Reductions (1) Facility Closures/Exit Costs (2) Asset Impairments and Write-offs Total Balance as of Aug. 31, 2015 $ 217 $ — $ — $ 217 Net restructuring charges recognized in fiscal year 2016 189 28 147 364 Cash payments (164 ) (28 ) — (192 ) Asset impairments and write-offs — — (147 ) (147 ) Foreign currency impact 2 — — 2 Balance as of Aug. 31, 2016 $ 244 $ — $ — $ 244 Net restructuring charges recognized in first six months of fiscal year 2017 (36 ) 11 19 (6 ) Cash payments (78 ) (8 ) — (86 ) Asset impairments and write-offs — — (19 ) (19 ) Foreign currency impact (4 ) — — (4 ) Balance as of Feb. 28, 2017 $ 126 $ 3 $ — $ 129

CUSTOMER FINANCING PROGRAMS (Ta

CUSTOMER FINANCING PROGRAMS (Tables)	6 Months Ended
	Feb. 28, 2017
CUSTOMER FINANCING PROGRAMS [Abstract]
Customer Financing Programs	Monsanto participates in customer financing programs as follows: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Transactions that Qualify for Sales Treatment U.S. agreement to sell trade receivables (1) Outstanding balance $ 43 $ 511 Maximum future payout under recourse provisions 5 19 European and Latin American agreements to sell trade receivables (2) Outstanding balance $ 9 $ 60 Maximum future payout under recourse provisions 2 35 Agreements with Lenders (3) Outstanding balance $ 120 $ 73 Maximum future payout under the guarantee 90 57 The gross amounts of receivables sold under transactions that qualify for sales treatment were: Gross Amounts of Receivables Sold Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Transactions that Qualify for Sales Treatment U.S. agreement to sell trade receivables (1) $ — $ — $ 115 $ 16 European and Latin American agreements to sell trade receivables (2) 5 11 11 32 (1) Monsanto has agreements in the United States to sell trade receivables, both with and without recourse, up to a maximum outstanding balance of $1.5 billion and to service such accounts. These receivables qualify for sales treatment under the Transfers and Servicing topic of the ASC and, accordingly, the proceeds are included in net cash provided by operating activities in the Statements of Consolidated Cash Flows. The liability for the guarantees for sales with recourse is recorded at an amount that approximates fair value, based upon the company’s historical collection experience and a current assessment of credit exposure. (2) Monsanto has various agreements in European and Latin American countries to sell trade receivables, both with and without recourse. These receivables qualify for sales treatment under the Transfers and Servicing topic of the ASC and, accordingly, the proceeds are included in net cash provided by operating activities in the Statements of Consolidated Cash Flows. The liability for the guarantees for sales with recourse is recorded at an amount that approximates fair value, based upon the company’s historical collection experience and a current assessment of credit exposure. (3) Monsanto has additional agreements with lenders to establish programs that provide financing for select customers in the United States, Latin America and Europe. Monsanto provides various levels of recourse through guarantees of the accounts in the event of customer default. The term of the guarantee is equivalent to the term of the customer loans. The liability for the guarantees is recorded at an amount that approximates fair value, based on the company’s historical collection experience with customers that participate in the program and a current assessment of credit exposure. If performance is required under the guarantee, Monsanto may retain amounts that are subsequently collected from customers.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Feb. 28, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Investments and Cost Method Investments	For such investments that were accounted for under the equity method and cost basis included in other assets in the Statements of Consolidated Financial Position, the amounts are summarized in the following table: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Equity Method Investments $ 148 $ 152 Cost Basis Investments 99 94 Total $ 247 $ 246

RECEIVABLES (Tables)

RECEIVABLES (Tables)	6 Months Ended
	Feb. 28, 2017
Receivables [Abstract]
Allowance For Doubtful Long Term Receivables	The following table displays a roll forward of the allowance for credit losses related to long-term customer receivables. (Dollars in millions) Balance as of Aug. 31, 2015 $ 120 Incremental Provision 78 Recoveries (2 ) Write-offs (4 ) Other (1) 36 Balance as of Aug. 31, 2016 $ 228 Incremental Provision 17 Recoveries (14 ) Write-offs (1 ) Other (1) 15 Balance as of Feb. 28, 2017 $ 245 (1) Includes reclassifications from the allowance for current receivables and foreign currency translation adjustments.

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Feb. 28, 2017
Inventory Disclosure [Abstract]
Components of Inventory	Components of inventory are: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Finished Goods $ 1,735 $ 1,404 Goods In Process 1,525 1,489 Raw Materials and Supplies 525 498 Inventory at FIFO Cost 3,785 3,391 Excess of FIFO over LIFO Cost (164 ) (150 ) Total $ 3,621 $ 3,241

GOODWILL AND OTHER INTANGIBLE34

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Feb. 28, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Net Carrying Amount of Goodwill	Changes in the net carrying amount of goodwill for the first six months of fiscal year 2017 , by segment, are as follows: (Dollars in millions) Seeds and Genomics Agricultural Productivity Total Balance as of Aug. 31, 2016 $ 3,967 $ 53 $ 4,020 Effect of foreign currency translation and other adjustments (7 ) (3 ) (10 ) Balance as of Feb. 28, 2017 $ 3,960 $ 50 $ 4,010
Other Intangible Assets Information	Information regarding the company’s other intangible assets is as follows: As of Feb. 28, 2017 As of Aug. 31, 2016 (Dollars in millions) Carrying Amount Accumulated Amortization Net Carrying Amount Accumulated Amortization Net Acquired Germplasm $ 1,064 $ (788 ) $ 276 $ 1,070 $ (778 ) $ 292 Acquired Intellectual Property 1,062 (631 ) 431 1,042 (593 ) 449 Trademarks 333 (158 ) 175 334 (152 ) 182 Customer Relationships 296 (227 ) 69 301 (223 ) 78 Other 66 (37 ) 29 65 (33 ) 32 Total Other Intangible Assets, Finite Lives $ 2,821 $ (1,841 ) $ 980 $ 2,812 $ (1,779 ) $ 1,033 In Process Research & Development, Indefinite Lives 92 — 92 92 — 92 Total Other Intangible Assets $ 2,913 $ (1,841 ) $ 1,072 $ 2,904 $ (1,779 ) $ 1,125
Intangible Assets Future Amortization Expense	The estimated intangible asset amortization expense for fiscal year 2017 through fiscal year 2021 is as follows: (Dollars in millions) Amount 2017 $ 134 2018 118 2019 110 2020 107 2021 105

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Feb. 28, 2017
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables set forth by level Monsanto’s assets and liabilities disclosed at fair value on a recurring basis as of Feb. 28, 2017 , and Aug. 31, 2016 . As required by the Fair Value Measurements and Disclosures topic of the ASC, assets and liabilities are classified in their entirety based on the lowest level of input that is a significant component of the fair value measurement. Monsanto’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of fair value assets and liabilities within the fair value hierarchy levels. Fair Value Measurements at Feb. 28, 2017, Using (Dollars in millions) Level 1 Level 2 Level 3 Net Balance Assets at Fair Value: Cash equivalents $ 1,768 $ — $ — $ 1,768 Short-term investments 10 — — 10 Equity securities 10 — — 10 Derivative assets related to: Foreign currency contracts — 30 — 30 Commodity contracts 17 3 — 20 Total Assets at Fair Value $ 1,805 $ 33 $ — $ 1,838 Liabilities at Fair Value: Short-term debt instruments (1) $ — $ 1,612 $ — $ 1,612 Long-term debt instruments (1) — 7,611 105 7,716 Derivative liabilities related to: Foreign currency contracts — 4 — 4 Commodity contracts 8 8 — 16 Total Liabilities at Fair Value $ 8 $ 9,235 $ 105 $ 9,348 (1) Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC. Fair Value Measurements at Aug. 31, 2016, Using (Dollars in millions) Level 1 Level 2 Level 3 Net Balance Assets at Fair Value: Cash equivalents $ 1,081 $ — $ — $ 1,081 Short-term investments 60 — — 60 Equity securities 13 — — 13 Derivative assets related to: Foreign currency contracts — 10 — 10 Commodity contracts 9 9 — 18 Total Assets at Fair Value $ 1,163 $ 19 $ — $ 1,182 Liabilities at Fair Value: Short-term debt instruments (1) $ — $ 1,476 $ 113 $ 1,589 Long-term debt instruments (1) — 7,834 — 7,834 Derivative liabilities related to: Foreign currency contracts — 15 — 15 Commodity contracts 32 20 — 52 Interest rate contracts — 41 — 41 Total Liabilities at Fair Value $ 32 $ 9,386 $ 113 $ 9,531 (1) Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC.
Level 3 Rollforward	The following table summarizes the change in fair value of the Level 3 long-term debt instrument for the six months ended Feb. 28, 2017 . (Dollars in millions) Balance Aug. 31, 2016 $ — Issuance of mandatorily redeemable shares 93 Accretion expense 3 Effect of foreign currency translation adjustments 9 Balance Feb. 28, 2017 (1) $ 105 (1) Includes 315,000 mandatorily redeemable shares outstanding with a par value of 1,000 Brazilian reais (approximately $323 ) as of Feb. 28, 2017 . The following table summarizes the change in fair value of the Level 3 short-term debt instrument for the six months ended Feb. 28, 2017 . (Dollars in millions) Balance Aug. 31, 2016 (1) $ 113 Redemption of mandatorily redeemable shares (103 ) Accretion expense 2 Payments (7 ) Effect of foreign currency translation adjustments (5 ) Balance Feb. 28, 2017 $ — (1) Includes 350,000 mandatorily redeemable shares outstanding with a par value of 1,000 Brazilian reais (approximately $309 ) as of

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Feb. 28, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments (Notional Amounts)	The notional amounts of the company’s derivative instruments outstanding as of Feb. 28, 2017 , and Aug. 31, 2016 , are as follows: As of (Dollars in millions) Feb. 28, 2017 Aug. 31, 2016 Derivatives Designated as Hedges: Foreign exchange contracts $ 200 $ 388 Commodity contracts 656 484 Interest rate contracts — 150 Total Derivatives Designated as Hedges $ 856 $ 1,022 Derivatives Not Designated as Hedges: Foreign exchange contracts $ 1,581 $ 1,096 Commodity contracts 192 223 Interest rate contracts 87 116 Total Derivatives Not Designated as Hedges $ 1,860 $ 1,435
Fair Values of Derivative Instruments	The net presentation of the company’s derivative instruments outstanding was as follows: As of Feb. 28, 2017 (Dollars in millions) Gross Amounts Recognized Gross Amounts Offset in the Statement of Consolidated Financial Position Net Amounts Included in the Statement of Consolidated Financial Position Collateral Pledged Net Amounts Reported in the Statement of Consolidated Financial Position Other Items Included in the Statement of Consolidated Financial Position Statement of Consolidated Financial Position Balance Asset Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 14 $ (8 ) $ 6 $ — $ 6 Foreign exchange contracts 7 — 7 — 7 Derivatives not designated as hedges: Commodity contracts 3 — 3 — 3 Foreign exchange contracts 23 — 23 — 23 Total other current assets 47 (8 ) 39 — 39 $ 265 $ 304 Other assets Derivatives designated as hedges: Commodity contracts 3 — 3 — 3 Total other assets 3 — 3 — 3 490 493 Total Asset Derivatives $ 50 $ (8 ) $ 42 $ — $ 42 Liability Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 8 $ (8 ) $ — $ — $ — Total other current assets 8 (8 ) — — — Miscellaneous short-term accruals Derivatives designated as hedges: Commodity contracts 8 — 8 — 8 Derivatives not designated as hedges: Foreign exchange contracts 4 — 4 — 4 Total miscellaneous short-term accruals 12 — 12 — 12 $ 751 $ 763 Total Liability Derivatives $ 20 $ (8 ) $ 12 $ — $ 12 (1) As allowed by the Derivatives and Hedging topic of the ASC, derivative assets and liabilities have been offset by collateral subject to an enforceable master netting arrangement or similar arrangement. Therefore, contracts that are in an asset or liability position are included in asset accounts within the Statements of Consolidated Financial Position. As of Aug. 31, 2016 (Dollars in millions) Gross Amounts Recognized Gross Amounts Offset in the Statement of Consolidated Financial Position Net Amounts Included in the Statement of Consolidated Financial Position Collateral Pledged Net Amounts Reported in the Statement of Consolidated Financial Position Other Items Included in the Statement of Consolidated Financial Position Statement of Consolidated Financial Position Balance Asset Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 9 $ (29 ) $ (20 ) $ 20 $ — Foreign exchange contracts 4 — 4 — 4 Derivatives not designated as hedges: Commodity contracts (1) 9 (6 ) 3 — 3 Foreign exchange contracts 6 — 6 — 6 Total other current assets 28 (35 ) (7 ) 20 13 $ 214 $ 227 Other assets Derivatives designated as hedges Commodity contracts (1) — (4 ) (4 ) 4 — Total other assets — (4 ) (4 ) 4 — 489 489 Total Asset Derivatives $ 28 $ (39 ) $ (11 ) $ 24 $ 13 Liability Derivatives: Other current assets Derivatives designated as hedges: Commodity contracts (1) $ 29 $ (29 ) $ — $ — $ — Derivatives not designated as hedges: Commodity contracts (1) 6 (6 ) — — — Total other current assets 35 (35 ) — — — Other assets Derivatives designated as hedges: Commodity contracts (1) 4 (4 ) — — — Total other assets 4 (4 ) — — — Miscellaneous short-term accruals Derivatives designated as hedges: Commodity contracts 11 — 11 — 11 Foreign currency contracts 8 — 8 — 8 Interest rate contracts 41 — 41 — 41 Derivatives not designated as hedges: Foreign exchange contracts 7 — 7 — 7 Total miscellaneous short-term accruals 67 — 67 — 67 $ 937 $ 1,004 Other liabilities Derivatives designated as hedges: Commodity contracts 2 — 2 — 2 Total other liabilities 2 — 2 — 2 316 318 Total Liability Derivatives $ 108 $ (39 ) $ 69 $ — $ 69 (1) As allowed by the Derivatives and Hedging topic of the ASC, commodity derivative assets and liabilities have been offset by collateral subject to an enforceable master netting arrangement or similar arrangement. Therefore, these commodity contracts that are in an asset or liability position are included in asset accounts within the Statements of Consolidated Financial Position.
Gains Losses of Derivative Instruments	The gains and losses on the company’s derivative instruments were as follows: Amount of Gain (Loss) Recognized in AOCL (1) (Effective Portion) Amount of Gain (Loss) Recognized in Income (2)(3) Three Months Ended Three Months Ended Statements of Consolidated Operations Classification (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Derivatives Designated as Hedges: Fair value hedges: Commodity contracts $ 3 $ 1 Cost of goods sold Cash flow hedges: Foreign currency contracts $ 3 $ 3 3 4 Net sales Foreign currency contracts 1 (6 ) 1 6 Cost of goods sold Commodity contracts 10 (28 ) (12 ) (55 ) Cost of goods sold Interest rate contracts (1 ) (17 ) (4 ) (5 ) Interest expense Total Derivatives Designated as Hedges 13 (48 ) (9 ) (49 ) Derivatives Not Designated as Hedges: Foreign currency contracts (4) 26 31 Other (income) expense, net Commodity contracts 1 — Net sales Total Derivatives Not Designated as Hedges 27 31 Total Derivatives $ 13 $ (48 ) $ 18 $ (18 ) (1) Accumulated other comprehensive loss (AOCL). (2) For derivatives designated as cash flow hedges under the Derivatives and Hedging topic of the ASC, this represents the effective portion of the gain (loss) reclassified from AOCL into income during the period. (3) The gain or loss on derivatives designated as hedges from ineffectiveness is not significant during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 . No gains or losses were excluded from the assessment of hedge effectiveness during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 . (4) Gain or loss on foreign currency contracts not designated as hedges was offset by a foreign currency transaction loss of $21 million and $216 million during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. Amount of Gain (Loss) Recognized in AOCL (1) (Effective Portion) Amount of Gain (Loss) Recognized in Income (2)(3) Six Months Ended Six Months Ended Statements of Consolidated Operations Classification (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Derivatives Designated as Hedges: Fair value hedges: Commodity contracts $ (10 ) $ 1 Cost of goods sold Cash flow hedges: Foreign currency contracts $ 20 $ 5 10 8 Net sales Foreign currency contracts 7 4 2 13 Cost of goods sold Commodity contracts 29 (37 ) (15 ) (72 ) Cost of goods sold Interest rate contracts — — (37 ) — Other (income) expense, net Interest rate contracts 3 (24 ) (8 ) (8 ) Interest expense Total Derivatives Designated as Hedges 59 (52 ) (58 ) (58 ) Derivatives Not Designated as Hedges: Foreign currency contracts (4) (19 ) (24 ) Other (income) expense, net Commodity contracts 1 1 Net sales Commodity contracts (1 ) 1 Cost of goods sold Total Derivatives Not Designated as Hedges (19 ) (22 ) Total Derivatives $ 59 $ (52 ) $ (77 ) $ (80 ) (1) Accumulated other comprehensive loss (AOCL). (2) For derivatives designated as cash flow hedges under the Derivatives and Hedging topic of the ASC, this represents the effective portion of the gain (loss) reclassified from AOCL into income during the period. (3) The gain or loss on derivatives designated as hedges from ineffectiveness is not significant during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 . No gains or losses were excluded from the assessment of hedge effectiveness during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 . (4) Gain or loss on foreign currency contracts not designated as hedges was offset by a foreign currency transaction gain of $18 million and loss of $188 million during the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively.

POSTRETIREMENT BENEFITS - PEN37

POSTRETIREMENT BENEFITS - PENSIONS, HEALTH CARE AND OTHER (Tables)	6 Months Ended
	Feb. 28, 2017
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Cost	Pension Benefits Three Months Ended Feb. 28, 2017 Three Months Ended Feb. 29, 2016 (Dollars in millions) U.S. Outside the U.S. Total U.S. Outside the U.S. Total Service Cost for Benefits Earned During the Period $ 15 $ 3 $ 18 $ 16 $ 3 $ 19 Interest Cost on Benefit Obligation 20 1 21 25 2 27 Assumed Return on Plan Assets (43 ) (2 ) (45 ) (40 ) (2 ) (42 ) Amortization of Unrecognized Net Loss 12 1 13 12 1 13 Restructuring Charges — 2 2 — — — Total Net Periodic Benefit Cost $ 4 $ 5 $ 9 $ 13 $ 4 $ 17
Net Periodic Cost Postretirement	Health Care and Other Postretirement Benefits Three Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Service Cost for Benefits Earned During the Period $ 2 $ 2 Interest Cost on Benefit Obligation 1 1 Amortization of Unrecognized Net Loss/(Gain) 2 (1 ) Restructuring Charges 2 — Total Net Periodic Benefit Cost $ 7 $ 2

STOCK BASED COMPENSATION PLAN38

STOCK BASED COMPENSATION PLANS (Tables)	6 Months Ended
	Feb. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Components of Stock Based Compensation	The following table shows total stock-based compensation expense included in the Statements of Consolidated Operations for the three and six months ended Feb. 28, 2017 , and Feb. 29, 2016 . Three Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Cost of Goods Sold $ 4 $ 3 Selling, General and Administrative Expenses 19 21 Research and Development Expenses 7 8 Pre-Tax Stock-Based Compensation Expense 30 32 Income Tax Benefit (10 ) (11 ) Net Stock-Based Compensation Expense $ 20 $ 21

ACCUMULATED OTHER COMPREHENSI39

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Feb. 28, 2017
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	The following table sets forth the after-tax components of accumulated other comprehensive loss and changes thereto: (Dollars in millions) Foreign Currency Translation Adjustments Postretirement Benefit Items Net Unrealized Gain (Loss) on Available-for-Sale Securities Cash Flow Hedges Total Accumulated Other Comprehensive (Loss) Income Balance as of Aug. 31, 2015 $ (2,327 ) $ (286 ) $ 2 $ (190 ) $ (2,801 ) Other comprehensive income (loss) before reclassifications 35 (83 ) (2 ) (42 ) (92 ) Amounts reclassified from accumulated other comprehensive loss — 29 1 55 85 Net current-period other comprehensive income (loss) 35 (54 ) (1 ) 13 (7 ) Balance as of Aug. 31, 2016 $ (2,292 ) $ (340 ) $ 1 $ (177 ) $ (2,808 ) Other comprehensive (loss) income before reclassifications (98 ) — (2 ) 38 (62 ) Amounts reclassified from accumulated other comprehensive loss — 23 1 29 53 Net current-period other comprehensive (loss) income (98 ) 23 (1 ) 67 (9 ) Balance as of Feb. 28, 2017 $ (2,390 ) $ (317 ) $ — $ (110 ) $ (2,817 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The following table provides additional information regarding items reclassified out of accumulated other comprehensive loss into earnings. Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Affected Line Item in the Statements of Consolidated Operations Available for Sale Securities: Loss on Equity Security $ 2 $ — $ 2 $ — Other (income) expense, net 2 — 2 — Total before income taxes (1 ) — (1 ) — Income tax provision $ 1 $ — $ 1 $ — Net of tax Cash Flow Hedges: Foreign Exchange Contracts $ (3 ) $ (4 ) $ (10 ) $ (8 ) Net sales Foreign Exchange Contracts (1 ) (6 ) (2 ) (13 ) Cost of goods sold Commodity Contracts 12 55 15 72 Cost of goods sold Interest Rate Contracts — — 37 — Other (income) expense, net Interest Rate Contracts 4 5 8 8 Interest expense 12 50 48 59 Total before income taxes (4 ) (21 ) (19 ) (26 ) Income tax provision $ 8 $ 29 $ 29 $ 33 Net of tax Postretirement Benefit Items: Amortization of Unrecognized Net Loss $ 5 $ 4 $ 11 $ 8 Inventory/Cost of goods sold (1) Amortization of Unrecognized Net Loss 10 8 20 16 Selling, general and administrative expenses Amortization of Unrecognized Net Loss 4 — 4 — Restructuring charges 19 12 35 24 Total before income taxes (6 ) (5 ) (12 ) (8 ) Income tax provision $ 13 $ 7 $ 23 $ 16 Net of tax Total Reclassifications For The Period $ 22 $ 36 $ 53 $ 49 Net of tax (1) The amortization of unrecognized net loss is recorded to net periodic benefit cost, which is allocated to selling, general and administrative expenses and to inventory, which is recognized through cost of goods sold. The company recorded $5 million and $4 million of net periodic benefit cost to inventory, of which approximately $3 million and $2 million was recognized in cost of goods sold during the three months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively. The company recorded $11 million and $8 million of net periodic benefit cost to inventory, of which approximately $10 million and $7 million was recognized in cost of goods sold during the six months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. See Note 13 — Postretirement Benefits - Pensions, Health Care and Other — for additional information.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Feb. 28, 2017
Earnings Per Share [Abstract]
Basic Earnings Per Share Table	Three Months Ended Six Months Ended (Shares in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Weighted-Average Number of Common Shares 438.7 438.6 438.4 447.2 Dilutive Potential Common Shares 3.6 3.1 3.9 3.8 Antidilutive Potential Common Shares 2.2 5.6 4.0 5.0 Shares Excluded From Computation of Dilutive Potential Shares with Exercise Prices Greater than the Average Market Price of Common Shares for the Period 1.7 3.2 3.1 3.2

SUPPLEMENTAL CASH FLOW INFORM41

SUPPLEMENTAL CASH FLOW INFORMATION SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Feb. 28, 2017
Supplemental Cash Flow Information [Abstract]
Cash Payments For Interest And Taxes	Cash payments for interest and taxes were as follows: Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Interest $ 225 $ 201 Taxes 187 285

SEGMENT AND GEOGRAPHIC DATA (Ta

SEGMENT AND GEOGRAPHIC DATA (Tables)	6 Months Ended
	Feb. 28, 2017
Segment Reporting [Abstract]
Operating Segment Information	Data for the Seeds and Genomics and Agricultural Productivity reportable segments, as well as for Monsanto’s significant operating segments, is presented in the table as follows: Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 Net Sales (1) Corn seed and traits $ 2,902 $ 2,687 $ 3,851 $ 3,432 Soybean seed and traits 862 782 1,462 1,220 Cotton seed and traits 108 37 224 85 Vegetable seeds 193 192 324 330 All other crops seeds and traits 121 119 173 149 Total Seeds and Genomics $ 4,186 $ 3,817 $ 6,034 $ 5,216 Agricultural productivity 888 715 1,690 1,535 Total Agricultural Productivity $ 888 $ 715 $ 1,690 $ 1,535 Total $ 5,074 $ 4,532 $ 7,724 $ 6,751 Gross Profit Corn seed and traits $ 1,932 $ 1,721 $ 2,467 $ 2,087 Soybean seed and traits 628 527 1,079 829 Cotton seed and traits 77 18 150 43 Vegetable seeds 99 96 168 136 All other crops seeds and traits 41 66 53 61 Total Seeds and Genomics $ 2,777 $ 2,428 $ 3,917 $ 3,156 Agricultural productivity 175 170 294 343 Total Agricultural Productivity $ 175 $ 170 $ 294 $ 343 Total $ 2,952 $ 2,598 $ 4,211 $ 3,499 EBIT (2)(3) Seeds and Genomics $ 1,839 $ 1,497 $ 2,038 $ 1,164 Agricultural Productivity 119 7 132 66 Total $ 1,958 $ 1,504 $ 2,170 $ 1,230 Depreciation and Amortization Expense Seeds and Genomics $ 142 $ 152 $ 285 $ 300 Agricultural Productivity 41 32 87 64 Total $ 183 $ 184 $ 372 $ 364 (1) Represents net sales from continuing operations. (2) EBIT is defined as earnings (loss) before interest and taxes; see the following table for reconciliation. Earnings (loss) is intended to mean net income (loss) attributable to Monsanto Company as presented in the Statements of Consolidated Operations under U.S. GAAP. EBIT is an operating performance measure for the two reportable segments. (3) Agricultural Productivity EBIT includes income from operations of discontinued businesses of $5 million and $4 million for the three months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. Agricultural Productivity EBIT includes income from operations of discontinued businesses of $21 million and $24 million for the six months ended Feb. 28, 2017 , and Feb. 29, 2016 , respectively.
The reconciliation of EBIT to Net Income	A reconciliation of EBIT to net income attributable to Monsanto Company for each period is as follows: Three Months Ended Six Months Ended (Dollars in millions) Feb. 28, 2017 Feb. 29, 2016 Feb. 28, 2017 Feb. 29, 2016 EBIT (1) $ 1,958 $ 1,504 $ 2,170 $ 1,230 Interest Expense — Net 84 86 202 195 Income Tax Provision (2) 506 355 571 225 Net Income Attributable to Monsanto Company $ 1,368 $ 1,063 $ 1,397 $ 810 (1) Includes the income from operations of discontinued businesses and the (loss) income from operations of noncontrolling interests. (2) Includes the income tax provision on discontinued operations and the income tax (benefit) expense of noncontrolling interest.

BACKGROUND AND BASIS OF PRESE43

BACKGROUND AND BASIS OF PRESENTATION (Details) $ in Millions	Oct. 01, 2008	Feb. 28, 2017USD ($)	Feb. 28, 2017USD ($)segment	Feb. 29, 2016USD ($)	Aug. 31, 2016USD ($)	Nov. 02, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposal			$ (83)	$ 0
Number of Reportable Segments | segment			2
Earn-out period, length of time	10 years
Precision Planting [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration						$ 190
Silthiofam [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds		$ 140
Gain on disposal		85
Disposal Group, Not Discontinued Operation, Carrying Amount Of Assets Sold		2	$ 2
Disposal Group, Not Discontinued Operation, Contingent Consideration, Liability		55	55
Other Current Assets [Member] | Precision Planting [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets		183	183		$ 172
Other Current Liabilities [Member] | Precision Planting [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Liabilities		$ 11	$ 11		$ 12

RESTRUCTURING - Schedule of res

RESTRUCTURING - Schedule of restructuring charges recored in the statement of consolidated operations (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ (23)	$ (9)	$ 13	$ (275)
Long-Term Restructuring Reserves		21		21		$ 17
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	(6)	0	(7)	(52)
Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	(23)	(9)	13	(275)
Income (Loss) from Continuing Operations before Income Taxes [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(29)	(9)	6	(327)
Income Tax (Expense) Benefit [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(15)	(3)	(5)	(111)
Net Income (Loss) [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(14)	(6)	11	(216)
Seeds And Genomics [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(5)		(6)	(52)
Seeds And Genomics [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(22)	$ (9)		(246)
Agricultural Productivity [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(1)		$ (1)
Agricultural Productivity [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ (1)			$ (29)
[1]	(1)For the three months ended Feb. 28, 2017, $6 million of restructuring charges in cost of goods sold was split by segment as follows: $5 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb. 28, 2017, $7 million of restructuring charges in cost of goods sold was split by segment as follows: $6 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb. 29, 2016, $52 million of restructuring charges in cost of goods sold was recorded to the Seeds and Genomics segment.

RESTRUCTURING - Pretax restruct

RESTRUCTURING - Pretax restructuring charges related to 2015 restructuring (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended	18 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016	Feb. 28, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 23	$ 9	$ (13)	$ 275
Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	29	9	(6)	327	$ 364	$ 851
Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	0	(36)	217	189	370
Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9	4	11	6	$ 28	39
Impairment in value of Property, Plant and Equipment [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	19	5	20	29		144
Inventory Valuation and Obsolescence [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)	0	0	37		93
Goodwill and Other Assets [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	(1)	38		205
Seeds And Genomics [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	27	9	(6)	298		801
Seeds And Genomics [Member] | Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	0	(34)	208		349
Seeds And Genomics [Member] | Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8	4	10	6		33
Seeds And Genomics [Member] | Impairment in value of Property, Plant and Equipment [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	18	5	19	29		141
Seeds And Genomics [Member] | Inventory Valuation and Obsolescence [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1)	0	0	37		93
Seeds And Genomics [Member] | Goodwill and Other Assets [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	(1)	18		185
Agricultural Productivity [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2	0	0	29		50
Agricultural Productivity [Member] | Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	(2)	9		21
Agricultural Productivity [Member] | Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	0	1	0		6
Agricultural Productivity [Member] | Impairment in value of Property, Plant and Equipment [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1	0	1	0		3
Agricultural Productivity [Member] | Inventory Valuation and Obsolescence [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	0		0
Agricultural Productivity [Member] | Goodwill and Other Assets [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0	$ 0	$ 20		$ 20

RESTRUCTURING - Restructuring C

RESTRUCTURING - Restructuring Charges by Activity (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended	18 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016	Feb. 28, 2017
Restructuring Reserve [Roll Forward]
Restructuring charges		$ 23	$ 9	$ (13)	$ 275
Long-Term Restructuring Reserves		21		21		$ 17	$ 21
Restructuring Plan 2015 [Member]
Restructuring Reserve [Roll Forward]
Beginning balance				244	217	217	217
Restructuring charges		29	9	(6)	327	364	851
Cash Payments				(86)		(192)
Asset impairments and write-offs				(19)		(147)
Foreign Currency Impact				(4)		2
Ending balance		129		129		244	129
Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	[1]			244	217	217	217
Restructuring charges		2	0	(36)	217	189	370
Cash Payments				(78)		(164)
Asset impairments and write-offs				0		0
Foreign Currency Impact				(4)		2
Ending balance	[1]	126		126		244	126
Long-Term Restructuring Reserves		20		20		17	20
Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Reserve [Roll Forward]
Beginning balance				0	0	0	0
Restructuring charges		9	$ 4	11	6	28	39
Cash Payments				(8)		(28)
Asset impairments and write-offs				0		0
Foreign Currency Impact				0		0
Ending balance		3		3		0	3
Long-Term Restructuring Reserves		1		1			1
Impairment Of Asset [Member] | Restructuring Plan 2015 [Member]
Restructuring Reserve [Roll Forward]
Beginning balance				0	$ 0	0	0
Restructuring charges				19		147
Cash Payments				0		0
Asset impairments and write-offs				(19)		(147)
Foreign Currency Impact				0		0
Ending balance		$ 0		$ 0		$ 0	$ 0
[1]	(1)The restructuring liability balance included $20 million and $17 million that were recorded in long-term restructuring reserves in the Statements of Consolidated Financial Position as of Feb. 28, 2017, and Aug. 31, 2016, respectively.(2) The restructuring liability balance included $1 million that was recorded in long-term restructuring reserves in the Statement of Consolidated Financial Position as of Feb. 28, 2017.

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended	18 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016	Feb. 28, 2017
Restructuring Cost and Reserve [Line Items]
Long-Term Restructuring Reserves		$ 21		$ 21		$ 17	$ 21
Restructuring charges		(23)	$ (9)	13	$ (275)
Restructuring charge reversal				13
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	(6)	0	(7)	(52)
Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	[1]	(23)	(9)	13	(275)
Income (Loss) from Continuing Operations before Income Taxes [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(29)	(9)	6	(327)
Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(29)	(9)	6	(327)	(364)	(851)
Estimated restructuring charges		1,000		1,000			1,000
Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Long-Term Restructuring Reserves		20		20		17	20
Restructuring charges		(2)	0	36	(217)	(189)	(370)
Restructuring charge reversal		12		57
Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Long-Term Restructuring Reserves		1		1			1
Restructuring charges		(9)	(4)	(11)	(6)	(28)	(39)
Impairment Of Asset [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				(19)		$ (147)
Impairment in value of Property, Plant and Equipment [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(19)	(5)	(20)	(29)		(144)
Inventory Valuation and Obsolescence [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	0	0	(37)		(93)
Minimum [Member] | Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Estimated restructuring charges		375		375			375
Minimum [Member] | Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Estimated restructuring charges		120		120			120
Minimum [Member] | Impairment Of Asset [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Estimated restructuring charges		480		480			480
Maximum [Member] | Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Estimated restructuring charges		400		400			400
Maximum [Member] | Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Estimated restructuring charges		140		140			140
Maximum [Member] | Impairment Of Asset [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Estimated restructuring charges		515		515			515
Seeds And Genomics [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge reversal				12
Seeds And Genomics [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(5)		(6)	(52)
Seeds And Genomics [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(22)	(9)		(246)
Seeds And Genomics [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(27)	(9)	6	(298)		(801)
Seeds And Genomics [Member] | Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(2)	0	34	(208)		(349)
Seeds And Genomics [Member] | Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(8)	(4)	(10)	(6)		(33)
Seeds And Genomics [Member] | Impairment in value of Property, Plant and Equipment [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(18)	(5)	(19)	(29)		(141)
Seeds And Genomics [Member] | Inventory Valuation and Obsolescence [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	0	0	(37)		(93)
Agricultural Productivity [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charge reversal				1
Agricultural Productivity [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(1)		(1)
Agricultural Productivity [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(1)			(29)
Agricultural Productivity [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(2)	0	0	(29)		(50)
Agricultural Productivity [Member] | Employee Severance [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	0	2	(9)		(21)
Agricultural Productivity [Member] | Facility Closing [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(1)	0	(1)	0		(6)
Agricultural Productivity [Member] | Impairment in value of Property, Plant and Equipment [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(1)	0	(1)	0		(3)
Agricultural Productivity [Member] | Inventory Valuation and Obsolescence [Member] | Restructuring Plan 2015 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0	$ 0	$ 0	$ 0		$ 0
[1]	(1)For the three months ended Feb. 28, 2017, $6 million of restructuring charges in cost of goods sold was split by segment as follows: $5 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb. 28, 2017, $7 million of restructuring charges in cost of goods sold was split by segment as follows: $6 million in Seeds and Genomics and $1 million in Agricultural Productivity. For the six months ended Feb. 29, 2016, $52 million of restructuring charges in cost of goods sold was recorded to the Seeds and Genomics segment.

CUSTOMER FINANCING PROGRAMS (De

CUSTOMER FINANCING PROGRAMS (Details) BRL in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Feb. 28, 2017USD ($)	Feb. 29, 2016USD ($)	Feb. 28, 2017USD ($)	Feb. 28, 2017BRL	Feb. 29, 2016USD ($)	Aug. 31, 2016USD ($)
US agreement to sell trade receivables [Member]
Customer Financing Programs [Line Items]
Outstanding balance	[1]	$ 43		$ 43			$ 511
Maximum future payout under recourse provisions	[1]	5		5			19
Transactions that Qualify for Sales Treatment	[1]	0	$ 0	115		$ 16
Maximum Amount of Potential Sales of Receivables				1,500
Other agreements to sell trade receivables [Member]
Customer Financing Programs [Line Items]
Outstanding balance	[2]	9		9			60
Maximum future payout under recourse provisions	[2]	2		2			35
Transactions that Qualify for Sales Treatment	[2]	5	$ 11	11		$ 32
Agreements With Lenders [Member]
Customer Financing Programs [Line Items]
Outstanding balance	[3]	120		120			73
Maximum future payout under recourse provisions	[3]	$ 90		90			$ 57
Brazil Revolving Financing Program [Member]
Customer Financing Programs [Line Items]
Maximum Amount of Potential Sales of Receivables				$ 113	BRL 350
[1]	Monsanto has agreements in the United States to sell trade receivables, both with and without recourse, up to a maximum outstanding balance of $1.5 billion and to service such accounts. These receivables qualify for sales treatment under the Transfers and Servicing topic of the ASC and, accordingly, the proceeds are included in net cash provided by operating activities in the Statements of Consolidated Cash Flows. The liability for the guarantees for sales with recourse is recorded at an amount that approximates fair value, based upon the company’s historical collection experience and a current assessment of credit exposure.
[2]	Monsanto has various agreements in European and Latin American countries to sell trade receivables, both with and without recourse. These receivables qualify for sales treatment under the Transfers and Servicing topic of the ASC and, accordingly, the proceeds are included in net cash provided by operating activities in the Statements of Consolidated Cash Flows. The liability for the guarantees for sales with recourse is recorded at an amount that approximates fair value, based upon the company’s historical collection experience and a current assessment of credit exposure.
[3]	Monsanto has additional agreements with lenders to establish programs that provide financing for select customers in the United States, Latin America and Europe. Monsanto provides various levels of recourse through guarantees of the accounts in the event of customer default. The term of the guarantee is equivalent to the term of the customer loans. The liability for the guarantees is recorded at an amount that approximates fair value, based on the company’s historical collection experience with customers that participate in the program and a current assessment of credit exposure. If performance is required under the guarantee, Monsanto may retain amounts that are subsequently collected from customers.

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	6 Months Ended	12 Months Ended
	Feb. 28, 2017	Aug. 31, 2016
Revolving Financing Programs [Line Items]
Variable Interest Entity, Financial or Other Support, Percentage	11.10%
Senior Interest [Member]
Revolving Financing Programs [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	88.00%	89.00%
Monsanto Interest [Member]
Revolving Financing Programs [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	12.00%	11.00%

VARIABLE INTEREST ENTITIES - Eq

VARIABLE INTEREST ENTITIES - Equity Method Investments and Cost Method Investments (Details) - USD ($) $ in Millions	Feb. 28, 2017	Aug. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	$ 148	$ 152
Cost Basis Investments	99	94
Total	$ 247	$ 246

RECEIVABLES (Details)

RECEIVABLES (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
		Feb. 28, 2017	Aug. 31, 2016
Allowance For Doubtful Accounts Current [Abstract]
Net allowances		$ 101	$ 94
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning Balance		228	120
Incremental Provision		17	78
Recoveries		(14)	(2)
Write-offs		(1)	(4)
Other	[1]	15	36
Ending Balance		245	228
Long Term Receivables [Abstract]
Long term customer receivables, gross		$ 299	$ 260
[1]	Includes reclassifications from the allowance for current receivables and foreign currency translation adjustments.

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Millions	Feb. 28, 2017	Aug. 31, 2016
Inventory Disclosure [Abstract]
Finished Goods	$ 1,735	$ 1,404
Goods In Process	1,525	1,489
Raw Materials and Supplies	525	498
Inventory at FIFO Cost	3,785	3,391
Excess of FIFO over LIFO Cost	(164)	(150)
Total	$ 3,621	$ 3,241

GOODWILL AND OTHER INTANGIBLE53

GOODWILL AND OTHER INTANGIBLE ASSETS Schedule of net carrying amount of goodwill (Details) $ in Millions	6 Months Ended
	Feb. 28, 2017USD ($)
Goodwill [Roll Forward]
Balance as of Aug. 31, 2016	$ 4,020
Effect of foreign currency translation and other adjustments	(10)
Balance as of Feb. 28, 2017	4,010
Seeds And Genomics [Member]
Goodwill [Roll Forward]
Balance as of Aug. 31, 2016	3,967
Effect of foreign currency translation and other adjustments	(7)
Balance as of Feb. 28, 2017	3,960
Agricultural Productivity [Member]
Goodwill [Roll Forward]
Balance as of Aug. 31, 2016	53
Effect of foreign currency translation and other adjustments	(3)
Balance as of Feb. 28, 2017	$ 50

GOODWILL AND OTHER INTANGIBLE54

GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS Information of other intangible assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying Amount	$ 2,821		$ 2,821		$ 2,812
Accumulated Amortization	(1,841)		(1,841)		(1,779)
Net	980		980		1,033
Total Other Intangible Assets, Carrying Amount	2,913		2,913		2,904
Total Other Intangible Assets, net	1,072		1,072		1,125
Amortization expense	28	$ 28	58	$ 59
Acquired Intellectual Property [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying Amount	1,062		1,062		1,042
Accumulated Amortization	(631)		(631)		(593)
Net	431		431		449
Acquired Germplasm [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying Amount	1,064		1,064		1,070
Accumulated Amortization	(788)		(788)		(778)
Net	276		276		292
Trademarks [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying Amount	333		333		334
Accumulated Amortization	(158)		(158)		(152)
Net	175		175		182
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying Amount	296		296		301
Accumulated Amortization	(227)		(227)		(223)
Net	69		69		78
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Carrying Amount	66		66		65
Accumulated Amortization	(37)		(37)		(33)
Net	29		29		32
In Process Research and Development [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
In Process Research & Development, Indefinite Lives	$ 92		$ 92		$ 92

GOODWILL AND OTHER INTANGIBLE55

GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS Schedule of estimated amortization expense (Details) $ in Millions	Feb. 28, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 134
2,018	118
2,019	110
2,020	107
2,021	$ 105

DEFERRED REVENUE (Details)

DEFERRED REVENUE (Details) - USD ($) $ in Millions	Feb. 28, 2017	Aug. 31, 2016
Deferred Revenue Disclosure [Abstract]
Deferred revenue	$ 1,407	$ 568

DEBT AND OTHER CREDIT ARRANGE57

DEBT AND OTHER CREDIT ARRANGEMENTS (Details) - USD ($)		Feb. 28, 2017		Oct. 31, 2016	Aug. 31, 2016		Apr. 30, 2016
Debt Instrument [Line Items]
Shelf registration, maximum aggregate amount							$ 6,000,000,000
Commercial paper outstanding		$ 554,000,000			$ 500,000,000
Short-term Debt, Fair Value	[1]	1,612,000,000			1,589,000,000
Long-term Debt, Fair Value		7,716,000,000	[1]		$ 7,834,000,000	[2]
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		3,000,000,000
Line of Credit Facility, Fair Value of Amount Outstanding		0
Line of Credit [Member] | Term Loan Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity				$ 1,000,000,000
Line of credit outstanding		$ 500,000,000
[1]	Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC.
[2]	Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC.

FAIR VALUE MEASUREMENTS FAIR VA

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS Fair Value Hierarchy Levels (Details) - USD ($) $ in Millions		6 Months Ended
		Feb. 28, 2017		Feb. 29, 2016	Aug. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 1,768			$ 1,081
Short-term investments		10			60
Equity securities		10			13
Foreign currency contracts		30			10
Commodity contracts		20			18
Total Assets at Fair Value		1,838			1,182
Foreign currency contracts		4			15
Commodity contracts		16			52
Short-term Debt, Fair Value	[1]	1,612			1,589
Long-term Debt, Fair Value		7,716	[1]		7,834	[2]
Interest rate contracts					41
Total Liabilities Recorded and Not Recorded at Fair Value		9,348			9,531
Liabilities, Fair Value Adjustment		0		$ 0
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		1,768			1,081
Short-term investments		10			60
Equity securities		10			13
Foreign currency contracts		0			0
Commodity contracts		17			9
Total Assets at Fair Value		1,805			1,163
Foreign currency contracts		0			0
Commodity contracts		8			32
Short-term Debt, Fair Value		0	[1]		0
Long-term Debt, Fair Value		0	[1]		0	[2]
Interest rate contracts					0
Total Liabilities Recorded and Not Recorded at Fair Value		8			32
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0			0
Short-term investments		0			0
Equity securities		0			0
Foreign currency contracts		30			10
Commodity contracts		3			9
Total Assets at Fair Value		33			19
Foreign currency contracts		4			15
Commodity contracts		8			20
Short-term Debt, Fair Value		1,612	[1]		1,476
Long-term Debt, Fair Value		7,611	[1]		7,834	[2]
Interest rate contracts					41
Total Liabilities Recorded and Not Recorded at Fair Value		9,235			9,386
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0			0
Short-term investments		0			0
Equity securities		0			0
Foreign currency contracts		0			0
Commodity contracts		0			0
Total Assets at Fair Value		0			0
Foreign currency contracts		0			0
Commodity contracts		0			0
Short-term Debt, Fair Value		0	[1]		113
Long-term Debt, Fair Value		105	[1]		0	[2]
Interest rate contracts					0
Total Liabilities Recorded and Not Recorded at Fair Value		$ 105			$ 113
[1]	Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC.
[2]	Debt instruments, excluding mandatorily redeemable shares, are not recorded at fair value on a recurring basis; however, they are measured at fair value for disclosure purposes, as required by the Fair Value Measurements and Disclosures topic of the ASC.

FAIR VALUE MEASUREMENTS Summary

FAIR VALUE MEASUREMENTS Summary of the Change in Level 3 Liability (Details) $ / shares in Units, $ in Millions		6 Months Ended
		Feb. 28, 2017USD ($)$ / sharesshares	Feb. 28, 2017BRL / sharesshares	Aug. 31, 2016$ / sharesshares	Aug. 31, 2016BRL / sharesshares
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Mandatorily Redeemable Shares Outstanding | shares		315,000	315,000	350,000	350,000
Mandatorily Redeemable Shares, Par Value | (per share)		$ 323	BRL 1,000	$ 309	BRL 1,000
Long-term Debt [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	[1]	$ 0
Reclassification		93
Accretion expense		3
Effect of foreign currency translation adjustments		9
Ending Balance	[1]	105
Short-term Debt [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance		113
Reclassification		(103)
Accretion expense		2
Payments		(7)
Effect of foreign currency translation adjustments		(5)
Ending Balance	[2]	$ 0
[1]	Includes 315,000 mandatorily redeemable shares outstanding with a par value of 1,000 Brazilian reais (approximately $323) as of Feb. 28, 2017.
[2]	Includes 350,000 mandatorily redeemable shares outstanding with a par value of 1,000 Brazilian reais (approximately $309) as of Aug. 31, 2016.

FAIR VALUE MEASUREMENTS FAIR 60

FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Feb. 28, 2017	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net	$ 5,335	$ 5,335		$ 5,231
Other Intangible Assets, Net	1,072	1,072		1,125
Seeds And Genomics [Member] | Impairment Of Asset [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net	18	18
Other Intangible Assets, Net				16
Seeds And Genomics [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net	7	7
Other Intangible Assets, Net			$ 1
Seeds And Genomics [Member] | Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges	11	11	29
Seeds And Genomics [Member] | Property, Plant and Equipment [Member] | Impairment Of Asset [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net				44
Seeds And Genomics [Member] | Property, Plant and Equipment [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, Plant and Equipment, Net				15
Seeds And Genomics [Member] | Other Intangible Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges			16
Seeds And Genomics [Member] | Cost of Goods Sold [Member] | Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges			15
Seeds And Genomics [Member] | Restructuring Charges [Member] | Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges	7	7	14
Seeds And Genomics [Member] | Restructuring Charges [Member] | Other Intangible Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges			16
Seeds And Genomics [Member] | Cost of Sales [Member] | Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges	$ 4	$ 4
Agricultural Productivity [Member] | Impairment Of Asset [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Intangible Assets, Net				$ 20
Agricultural Productivity [Member] | Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Intangible Assets, Net			1
Agricultural Productivity [Member] | Other Intangible Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges			20
Agricultural Productivity [Member] | Restructuring Charges [Member] | Other Intangible Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Impairment Charges			$ 20

FINANCIAL INSTRUMENTS Narrative

FINANCIAL INSTRUMENTS Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
	Feb. 28, 2017	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months		$ (6,000,000)
Loss on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring	$ 1,000,000		$ 1,000,000
Discontinuation of Cash Flow Hedge		37,000,000
subject to master netting arrangement, or similar agreement [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability Subject to Master Netting Arrangement, or Similar Agreement	$ 8,000,000	$ 8,000,000		$ 63,000,000
Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Maximum Length of Time Hedged in Cash Flow Hedge		6 months
Commodity Contracts
Derivatives, Fair Value [Line Items]
Maximum Length of Time Hedged in Cash Flow Hedge		33 months

FINANCIAL INSTRUMENTS FINANCIAL

FINANCIAL INSTRUMENTS FINANCIAL INSTRUMENTS Notional Amounts of Derivative Instruments Outstanding (Details) - USD ($) $ in Millions	Feb. 28, 2017	Aug. 31, 2016
Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	$ 856	$ 1,022
Not Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	1,860	1,435
Foreign Exchange Contract [Member] | Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	200	388
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	1,581	1,096
Commodity Contracts | Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	656	484
Commodity Contracts | Not Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	192	223
Interest Rate Contracts [Member] | Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	0	150
Interest Rate Contracts [Member] | Not Designated as Hedging Instrument
Derivatives, Notional [Line Items]
Total Derivatives	$ 87	$ 116

FINANCIAL INSTRUMENTS FINANCI63

FINANCIAL INSTRUMENTS FINANCIAL INSTRUMENTS Fair Value of Derivatives Outstanding (Details) - USD ($) $ in Millions		Feb. 28, 2017		Aug. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		$ 50		$ 28
Derivative Asset, Collateral, Obligation to Return Cash, Offset		(8)		(39)
Derivative Asset, Fair Value, Amount Offset Against Collateral		42		(11)
Derivative Asset, Fair Value of Collateral		0		24
Derivative Asset		42		13
Other Assets, Current		304		227
Other Assets, Noncurrent		493		489
Derivative Liability, Fair Value, Gross Liability		20		108
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		(8)		(39)
Derivative Liability, Fair Value, Amount Offset Against Collateral		12		69
Derivative Liability, Fair Value of Collateral		0		0
Derivative Liability		12		69
Miscellaneous short-term accruals		763		1,004
Other Liabilities, Noncurrent		325		318
Other Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		3		0
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0		(4)
Derivative Asset, Fair Value, Amount Offset Against Collateral		3		(4)
Derivative Asset, Fair Value of Collateral		0		4
Derivative Asset		3		0
Non-derivative Balances		490		489
Derivative Liability, Fair Value, Gross Liability				4
Derivative Liability, Collateral, Right to Reclaim Cash, Offset				(4)
Derivative Liability, Fair Value, Amount Offset Against Collateral				0
Derivative Liability, Fair Value of Collateral				0
Derivative Liability				0
Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		47		28
Derivative Asset, Collateral, Obligation to Return Cash, Offset		(8)		(35)
Derivative Asset, Fair Value, Amount Offset Against Collateral		39		(7)
Derivative Asset, Fair Value of Collateral		0		20
Derivative Asset		39		13
Non-derivative Balances		265		214
Derivative Liability, Fair Value, Gross Liability		8		35
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		(8)		(35)
Derivative Liability, Fair Value, Amount Offset Against Collateral		0		0
Derivative Liability, Fair Value of Collateral		0		0
Derivative Liability		0		0
Miscellaneous short term accruals
Derivatives, Fair Value [Line Items]
Non-derivative Balances		751		937
Derivative Liability, Fair Value, Gross Liability		12		67
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		0		0
Derivative Liability, Fair Value, Amount Offset Against Collateral		12		67
Derivative Liability, Fair Value of Collateral		0		0
Derivative Liability		12		67
Other liabilities
Derivatives, Fair Value [Line Items]
Non-derivative Balances				316
Derivative Liability, Fair Value, Gross Liability				2
Derivative Liability, Collateral, Right to Reclaim Cash, Offset				0
Derivative Liability, Fair Value, Amount Offset Against Collateral				2
Derivative Liability, Fair Value of Collateral				0
Derivative Liability				2
Foreign Exchange Contract [Member] | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		7		4
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0		0
Derivative Asset, Fair Value, Amount Offset Against Collateral		7		4
Derivative Asset, Fair Value of Collateral		0		0
Derivative Asset		7		4
Foreign Exchange Contract [Member] | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		23		6
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0		0
Derivative Asset, Fair Value, Amount Offset Against Collateral		23		6
Derivative Asset, Fair Value of Collateral		0		0
Derivative Asset		23		6
Foreign Exchange Contract [Member] | Miscellaneous short term accruals | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability				8
Derivative Liability, Collateral, Right to Reclaim Cash, Offset				0
Derivative Liability, Fair Value, Amount Offset Against Collateral				8
Derivative Liability, Fair Value of Collateral				0
Derivative Liability				8
Foreign Exchange Contract [Member] | Miscellaneous short term accruals | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		4		7
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		0		0
Derivative Liability, Fair Value, Amount Offset Against Collateral		4		7
Derivative Liability, Fair Value of Collateral		0		0
Derivative Liability		4		7
Commodity Contract [Member] | Other Assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		3		0
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0		(4)
Derivative Asset, Fair Value, Amount Offset Against Collateral		3		(4)
Derivative Asset, Fair Value of Collateral		0		4
Derivative Asset		3		0
Derivative Liability, Fair Value, Gross Liability	[1]			4
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	[1]			(4)
Derivative Liability, Fair Value, Amount Offset Against Collateral	[1]			0
Derivative Liability, Fair Value of Collateral	[1]			0
Derivative Liability	[1]			0
Commodity Contract [Member] | Other current assets | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		14	[2]	9	[1]
Derivative Asset, Collateral, Obligation to Return Cash, Offset		(8)	[2]	(29)	[1]
Derivative Asset, Fair Value, Amount Offset Against Collateral		6	[2]	(20)	[1]
Derivative Asset, Fair Value of Collateral		0	[2]	20	[1]
Derivative Asset		6	[2]	0	[1]
Derivative Liability, Fair Value, Gross Liability		8	[2]	29	[1]
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		(8)	[2]	(29)	[1]
Derivative Liability, Fair Value, Amount Offset Against Collateral		0	[2]	0	[1]
Derivative Liability, Fair Value of Collateral		0	[2]	0	[1]
Derivative Liability		0	[2]	0	[1]
Commodity Contract [Member] | Other current assets | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset		3	[2]	9	[1]
Derivative Asset, Collateral, Obligation to Return Cash, Offset		0	[2]	(6)	[1]
Derivative Asset, Fair Value, Amount Offset Against Collateral		3	[2]	3	[1]
Derivative Asset, Fair Value of Collateral		0	[2]	0	[1]
Derivative Asset		3	[2]	3	[1]
Derivative Liability, Fair Value, Gross Liability				6
Derivative Liability, Collateral, Right to Reclaim Cash, Offset				(6)
Derivative Liability, Fair Value, Amount Offset Against Collateral				0
Derivative Liability, Fair Value of Collateral				0
Derivative Liability				0
Commodity Contract [Member] | Miscellaneous short term accruals | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability		8		11
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		0		0
Derivative Liability, Fair Value, Amount Offset Against Collateral		8		11
Derivative Liability, Fair Value of Collateral		0		0
Derivative Liability		$ 8		11
Commodity Contract [Member] | Other liabilities | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability				2
Derivative Liability, Collateral, Right to Reclaim Cash, Offset				0
Derivative Liability, Fair Value, Amount Offset Against Collateral				2
Derivative Liability, Fair Value of Collateral				0
Derivative Liability				2
Interest Rate Contracts [Member] | Miscellaneous short term accruals | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability				41
Derivative Liability, Collateral, Right to Reclaim Cash, Offset				0
Derivative Liability, Fair Value, Amount Offset Against Collateral				41
Derivative Liability, Fair Value of Collateral				0
Derivative Liability				$ 41
[1]	As allowed by the Derivatives and Hedging topic of the ASC, commodity derivative assets and liabilities have been offset by collateral subject to an enforceable master netting arrangement or similar arrangement. Therefore, these commodity contracts that are in an asset or liability position are included in asset accounts within the Statements of Consolidated Financial Position.
[2]	As allowed by the Derivatives and Hedging topic of the ASC, derivative assets and liabilities have been offset by collateral subject to an enforceable master netting arrangement or similar arrangement. Therefore, contracts that are in an asset or liability position are included in asset accounts within the Statements of Consolidated Financial Position.

FINANCIAL INSTRUMENTS FINANCI64

FINANCIAL INSTRUMENTS FINANCIAL INSTRUMENTS Gain (Loss) from Derivatives (Details) - USD ($)		3 Months Ended		6 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)		$ 13,000,000	$ (48,000,000)	$ 59,000,000	$ (52,000,000)
Amount of Gain (Loss) Recognized in Income		18,000,000	(18,000,000)	(77,000,000)	(80,000,000)
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net		0	0	0	0
Discontinuation of Cash Flow Hedge				37,000,000
Foreign Currency Transaction Gain (Loss) Realized		21,000,000	216,000,000	18,000,000	188,000,000
Loss on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring		1,000,000			1,000,000
Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)		13,000,000	(48,000,000)	59,000,000	(52,000,000)
Amount of Gain (Loss) Recognized in Income		(9,000,000)	(49,000,000)	(58,000,000)	(58,000,000)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income		27,000,000	31,000,000	(19,000,000)	(22,000,000)
Commodity Contracts | Cost of Sales [Member] | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income				(1,000,000)	1,000,000
Commodity Contracts | Net Sales [Member] | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income		1,000,000	0	1,000,000	1,000,000
Foreign Exchange Contract [Member] | Other expense, net [Member] | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	[1]	26,000,000	31,000,000	(19,000,000)	(24,000,000)
Fair Value Hedges | Commodity Contracts | Cost of Sales [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	[2]	3,000,000	1,000,000	(10,000,000)	1,000,000
Cash Flow Hedging [Member] | Commodity Contracts | Cost of Sales [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	[3]	10,000,000	(28,000,000)	29,000,000	(37,000,000)
Amount of Gain (Loss) Recognized in Income	[2],[4]	(12,000,000)	(55,000,000)	(15,000,000)	(72,000,000)
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Cost of Sales [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	[3]	1,000,000	(6,000,000)	7,000,000	4,000,000
Amount of Gain (Loss) Recognized in Income	[2],[4]	1,000,000	6,000,000	2,000,000	13,000,000
Cash Flow Hedging [Member] | Foreign Exchange Contract [Member] | Net Sales [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	[3]	3,000,000	3,000,000	20,000,000	5,000,000
Amount of Gain (Loss) Recognized in Income	[2],[4]	3,000,000	4,000,000	10,000,000	8,000,000
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Interest Expense [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	[3]	(1,000,000)	(17,000,000)	3,000,000	(24,000,000)
Amount of Gain (Loss) Recognized in Income	[2],[4]	$ (4,000,000)	$ (5,000,000)	(8,000,000)	(8,000,000)
Cash Flow Hedging [Member] | Interest Rate Contracts [Member] | Other expense, net [Member] | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	[2]			0	0
Amount of Gain (Loss) Recognized in Income	[2]			$ (37,000,000)	$ 0
[1]	Gain or loss on foreign currency contracts not designated as hedges was offset by a foreign currency transaction loss of $21 million and $216 million during the three months ended Feb. 28, 2017, and Feb. 29, 2016, respectively.
[2]	The gain or loss on derivatives designated as hedges from ineffectiveness is not significant during the three months ended Feb. 28, 2017, and Feb. 29, 2016. No gains or losses were excluded from the assessment of hedge effectiveness during the three months ended Feb. 28, 2017, and Feb. 29, 2016.
[3]	Accumulated other comprehensive loss (AOCL).
[4]	For derivatives designated as cash flow hedges under the Derivatives and Hedging topic of the ASC, this represents the effective portion of the gain (loss) reclassified from AOCL into income during the period.

POSTRETIREMENT BENEFITS - PEN65

POSTRETIREMENT BENEFITS - PENSIONS, HEALTH CARE AND OTHER (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
United States Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost for Benefits Earned During the Period	$ 15	$ 16	$ 30	$ 32
Interest Cost on Benefit Obligation	20	25	41	49
Assumed Return on Plan Assets	(43)	(40)	(85)	(79)
Amortization of Unrecognized Net Loss (Gain)	12	12	24	24
Defined Benefit Plan, Other Costs	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	4	13	10	26
Foreign Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost for Benefits Earned During the Period	3	3	6	6
Interest Cost on Benefit Obligation	1	2	3	4
Assumed Return on Plan Assets	(2)	(2)	(4)	(4)
Amortization of Unrecognized Net Loss (Gain)	1	1	2	2
Defined Benefit Plan, Other Costs	2	0	2	0
Defined Benefit Plan, Net Periodic Benefit Cost	5	4	9	8
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost for Benefits Earned During the Period	18	19	36	38
Interest Cost on Benefit Obligation	21	27	44	53
Assumed Return on Plan Assets	(45)	(42)	(89)	(83)
Amortization of Unrecognized Net Loss (Gain)	13	13	26	26
Defined Benefit Plan, Other Costs	2	0	2	0
Defined Benefit Plan, Net Periodic Benefit Cost	9	17	19	34
Postretirement and ESOP Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Service Cost for Benefits Earned During the Period	2	2	3	3
Interest Cost on Benefit Obligation	1	1	2	3
Amortization of Unrecognized Net Loss (Gain)	2	(1)	3	(2)
Defined Benefit Plan, Other Costs	2	0	2	0
Defined Benefit Plan, Net Periodic Benefit Cost	$ 7	$ 2	$ 10	$ 4

STOCK BASED COMPENSATION PLAN66

STOCK BASED COMPENSATION PLANS Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Cost of Goods Sold [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense	$ 4	$ 3	$ 7	$ 7
Selling, General and Administrative Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense	19	21	45	46
Research and Development Expenses [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense	7	8	13	16
Restructuring Charges [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense			1	0
Pre-Tax Stock-Based Compensation Expense [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense	30	32	66	69
Income Tax Benefit [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense	(10)	(11)	(23)	(23)
Net Stock Based Compensation [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Stock Based Compensation Expense	$ 20	$ 21	$ 43	$ 46

ACCUMULATED OTHER COMPREHENSI67

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended		12 Months Ended
		Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance				$ (2,808)	$ (2,801)	$ (2,801)
Other comprehensive (loss) income before reclassifications				(62)		(92)
Amounts reclassified from accumulated other comprehensive loss		$ 22	$ 36	53	49	85
Total Other Comprehensive Income (Loss), Net of Tax		199	(33)	(9)	(250)	(7)
Ending balance		(2,817)		(2,817)		(2,808)
Other comprehensive (income) loss, reclassification adjustment, available for sale securities, tax		(1)	0	(1)	0
Realized net derivative (gains) losses, tax (expense) benefit		4	21	19	26
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax		(6)	(5)	(12)	(8)
Available-for-sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance				1	2	2
Other comprehensive (loss) income before reclassifications				(2)		(2)
Amounts reclassified from accumulated other comprehensive loss		1	0	1	0	1
Total Other Comprehensive Income (Loss), Net of Tax				(1)		(1)
Ending balance		0		0		1
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		2	0	2	0
Pension Plan, Defined Benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		19	12	35	24
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance				(2,292)	(2,327)	(2,327)
Other comprehensive (loss) income before reclassifications				(98)		35
Amounts reclassified from accumulated other comprehensive loss				0		0
Total Other Comprehensive Income (Loss), Net of Tax				(98)		35
Ending balance		(2,390)		(2,390)		(2,292)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance				(177)	(190)	(190)
Other comprehensive (loss) income before reclassifications				38		(42)
Amounts reclassified from accumulated other comprehensive loss		8	29	29	33	55
Total Other Comprehensive Income (Loss), Net of Tax				67		13
Ending balance		(110)		(110)		(177)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		12	50	48	59
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance				(340)	(286)	(286)
Other comprehensive (loss) income before reclassifications				0		(83)
Amounts reclassified from accumulated other comprehensive loss		13	7	23	16	29
Total Other Comprehensive Income (Loss), Net of Tax				23		(54)
Ending balance		(317)		(317)		$ (340)
Cost of Sales [Member] | Pension Plan, Defined Benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		(3)	(2)	(10)	(7)
Selling, General and Administrative Expenses [Member] | Pension Plan, Defined Benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		10	8	20	16
Restructuring Charges [Member] | Pension Plan, Defined Benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		4	0	4	0
Foreign Exchange Contract [Member] | Net Sales [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		(3)	(4)	(10)	(8)
Foreign Exchange Contract [Member] | Cost of Sales [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		(1)	(6)	(2)	(13)
Commodity Contract [Member] | Cost of Sales [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		12	55	15	72
Interest Rate Contracts [Member] | Other Expense [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		0	0	37	0
Interest Rate Contracts [Member] | Interest Expense [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		4	5	8	8
Inventory [Member] | Pension Plan, Defined Benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[1]	5	4	11	8
Sale of Securities [Member] | Other Operating Income (Expense) [Member] | Available-for-sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		$ 2	$ 0	$ 2	$ 0
[1]	The amortization of unrecognized net loss is recorded to net periodic benefit cost, which is allocated to selling, general and administrative expenses and to inventory, which is recognized through cost of goods sold. The company recorded $5 million and $4 million of net periodic benefit cost to inventory, of which approximately $3 million and $2 million was recognized in cost of goods sold during the three months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. The company recorded $11 million and $8 million of net periodic benefit cost to inventory, of which approximately $10 million and $7 million was recognized in cost of goods sold during the six months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. See Note 13 — Postretirement Benefits - Pensions, Health Care and Other — for additional information.

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Earnings Per Share [Abstract]
Weighted-Average Number of Common Shares	438.7	438.6	438.4	447.2
Dilutive Potential Common Shares	3.6	3.1	3.9	3.8
Antidilutive Potential Common Shares	2.2	5.6	4	5
Shares Excluded From Computation of Dilutive Potential Shares with Exercise Prices Greater than the Average Market Price of Common Shares for the Period	1.7	3.2	3.1	3.2

SUPPLEMENTAL CASH FLOW INFORM69

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Supplemental Cash Flow Information [Abstract]
Capital Expenditures Incurred but Not yet Paid	$ 117	$ 68
Interest	225	201
Taxes	$ 187	285
Dividends Payable		$ 236

COMMITMENTS AND CONTINGENCIES E

COMMITMENTS AND CONTINGENCIES ENVIRONMENTAL AND LITIGATION (Details) $ in Millions	1 Months Ended			6 Months Ended
	Apr. 30, 2017USD ($)	Nov. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Feb. 28, 2017USD ($)plaintiff	Feb. 29, 2016plaintiff	Aug. 31, 2016USD ($)
Accrual For Environmental And Litigation Loss Contingencies [Abstract]
Accrual For Environmental And Litigation Loss Contingencies				$ 272		$ 545
Pending Litigation [Member] | Personal Injury Lawsuits [Member] | State Courts in St Louis, Missouri and Los Angeles, California [Member]
Accrual For Environmental And Litigation Loss Contingencies [Abstract]
Loss Contingency, Number of cases | plaintiff				30
Loss Contingency, Number of Plaintiffs | plaintiff				750
Pending Litigation [Member] | Personal Injury Lawsuits [Member] | Various State And Federal Courts [Member]
Accrual For Environmental And Litigation Loss Contingencies [Abstract]
Loss Contingency, Number of Plaintiffs | plaintiff					1,100
Settled Litigation [Member] | Personal Injury Lawsuits [Member] | State Courts in St Louis, Missouri and Los Angeles, California [Member]
Accrual For Environmental And Litigation Loss Contingencies [Abstract]
Settlement received (paid)	$ (4)	$ (250)
Settled Litigation [Member] | Personal Injury Lawsuits [Member] | Maximum [Member] | State Courts in St Louis, Missouri and Los Angeles, California [Member]
Accrual For Environmental And Litigation Loss Contingencies [Abstract]
Settlement received (paid)			$ 280
Settled Litigation [Member] | Personal Injury Lawsuits [Member] | Other Current Liabilities [Member] | State Courts in St Louis, Missouri and Los Angeles, California [Member]
Accrual For Environmental And Litigation Loss Contingencies [Abstract]
Accrual				$ 25		$ 280

COMMITMENTS AND CONTINGENCIES O

COMMITMENTS AND CONTINGENCIES OFF-BALANCE SHEET ARRANGEMENTS (Details) $ in Millions	Dec. 31, 2013USD ($)
Bond [Member]
Off Balance Sheet Arrangement [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Asset	$ 470

SEGMENT AND GEOGRAPHIC DATA (De

SEGMENT AND GEOGRAPHIC DATA (Details) $ in Millions		3 Months Ended		6 Months Ended
		Feb. 28, 2017USD ($)	Feb. 29, 2016USD ($)	Feb. 28, 2017USD ($)segment	Feb. 29, 2016USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment				2
Net Sales	[1]	$ 5,074	$ 4,532	$ 7,724	$ 6,751
Gross Profit		2,952	2,598	4,211	3,499
EBIT	[2],[3],[4]	1,958	1,504	2,170	1,230
Depreciation and Amortization Expense		183	184	372	364
Income from operations of discontinued business		5	4	21	24
Reconciliation of EBIT to Net Income [Abstract]
EBIT	[2],[3],[4]	1,958	1,504	2,170	1,230
Interest Expense — Net		84	86	202	195
Income Tax Provision	[5]	506	355	571	225
Net Income Attributable to Monsanto Company		1,368	1,063	1,397	810
Corn seed and traits [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	2,902	2,687	3,851	3,432
Gross Profit		1,932	1,721	2,467	2,087
Soybean seed and traits [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	862	782	1,462	1,220
Gross Profit		628	527	1,079	829
Cotton seed and traits [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	108	37	224	85
Gross Profit		77	18	150	43
Vegetable seeds [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	193	192	324	330
Gross Profit		99	96	168	136
All other crops seeds and traits [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	121	119	173	149
Gross Profit		41	66	53	61
Total Seeds and Genomics [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	4,186	3,817	6,034	5,216
Gross Profit		2,777	2,428	3,917	3,156
EBIT	[2],[3]	1,839	1,497	2,038	1,164
Depreciation and Amortization Expense		142	152	285	300
Reconciliation of EBIT to Net Income [Abstract]
EBIT	[2],[3]	1,839	1,497	2,038	1,164
Agricultural Productivity [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	888	715	1,690	1,535
Gross Profit		175	170	294	343
Total Agricultural Productivity [Member]
Segment Reporting Information [Line Items]
Net Sales	[1]	888	715	1,690	1,535
Gross Profit		175	170	294	343
EBIT	[2],[3]	119	7	132	66
Depreciation and Amortization Expense		41	32	87	64
Reconciliation of EBIT to Net Income [Abstract]
EBIT	[2],[3]	$ 119	$ 7	$ 132	$ 66
[1]	Represents net sales from continuing operations.
[2]	Agricultural Productivity EBIT includes income from operations of discontinued businesses of $5 million and $4 million for the three months ended Feb. 28, 2017, and Feb. 29, 2016, respectively. Agricultural Productivity EBIT includes income from operations of discontinued businesses of $21 million and $24 million for the six months ended Feb. 28, 2017, and Feb. 29, 2016, respectively.
[3]	EBIT is defined as earnings (loss) before interest and taxes; see the following table for reconciliation. Earnings (loss) is intended to mean net income (loss) attributable to Monsanto Company as presented in the Statements of Consolidated Operations under U.S. GAAP. EBIT is an operating performance measure for the two reportable segments.
[4]	Includes the income from operations of discontinued businesses and the (loss) income from operations of noncontrolling interests.
[5]	Includes the income tax provision on discontinued operations and the income tax (benefit) expense of noncontrolling interest.

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016	Aug. 31, 2016
Subsequent Event [Line Items]
Dividends Declared per Share	$ 1.08	$ 1.08	$ 1.08	$ 1.08	$ 2.16
Gain on disposal			$ (83)	$ 0