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Fair Value Measurements (Tables) | 6 Months Ended
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Feb. 28, 2013
Fair Value Disclosures [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring | Fair value measurements at February 28, 2013, August 31, 2012 and February 29, 2012 are as follows:
| February 28, 2013
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |  |  |  |
Readily marketable inventories |  |  |  | $ | 1,697,214 |  |  |  |  | $ | 1,697,214 |
Commodity and freight derivatives | $ | 29,346 |  |  | 243,171 |  |  |  |  | 272,517 |
Interest rate swaps |  |  |  | 459 |  |  |  |  | 459 |
Foreign currency derivatives | 15,497 |  |  |  |  |  |  |  | 15,497 |
Other assets | 79,333 |  |  |  |  |  |  |  | 79,333 |
Total Assets | $ | 124,176 |  |  | $ | 1,940,844 |  |  |  |  | $ | 2,065,020 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Commodity and freight derivatives | $ | 15,661 |  |  | $ | 200,222 |  |  |  |  | $ | 215,883 |
Interest rate swap derivatives |  |  |  | 418 |  |  |  |  | 418 |
Foreign currency derivatives | 969 |  |  |  |  |  |  |  | 969 |
Accrued liability for contingent crack spread payments related to purchase of noncontrolling interests |  |  |  |  |  |  | $ | 140,987 |  |  | 140,987 |
Total Liabilities | $ | 16,630 |  |  | $ | 200,640 |  |  | $ | 140,987 |  |  | $ | 358,257 |
| August 31, 2012
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |
Readily marketable inventories |  |  | $ | 1,702,757 |  |  |  |  | $ | 1,702,757 |
Commodity and freight derivatives | $ | 70,586 |  |  | 778,362 |  |  |  |  | 848,948 |
Foreign currency derivatives | 957 |  |  |  |  |  |  | 957 |
Other assets | 75,000 |  |  |  |  |  |  | 75,000 |
Total Assets | $ | 146,543 |  |  | $ | 2,481,119 |  |  |  |  | $ | 2,627,662 |
Liabilities: |  |  |  |  |  |  |
Commodity and freight derivatives | $ | 150,049 |  |  | $ | 356,046 |  |  |  |  | $ | 506,095 |
Interest rate swap derivatives |  |  | 544 |  |  |  |  | 544 |
Foreign currency derivatives | 2,366 |  |  |  |  |  |  | 2,366 |
Accrued liability for contingent crack spread payments related to purchase of noncontrolling interests |  |  |  |  | $ | 127,516 |  |  | 127,516 |
Total Liabilities | $ | 152,415 |  |  | $ | 356,590 |  |  | $ | 127,516 |  |  | $ | 636,521 |
| February 29, 2012
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |  |  |  |
Readily marketable inventories |  |  |  | $ | 1,406,976 |  |  |  |  | $ | 1,406,976 |
Commodity and freight derivatives | $ | 17,043 |  |  | 191,226 |  |  |  |  | 208,269 |
Other assets | 74,537 |  |  |  |  |  |  |  | 74,537 |
Total Assets | $ | 91,580 |  |  | $ | 1,598,202 |  |  |  |  | $ | 1,689,782 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Commodity and freight derivatives | $ | 51,975 |  |  | $ | 243,609 |  |  |  |  | $ | 295,584 |
Interest rate swap derivatives |  |  | 586 |  |  |  |  | 586 |
Foreign currency derivatives | 72 |  |  |  |  |  |  | 72 |
Accrued liability for contingent crack spread payments related to purchase of noncontrolling interests |  |  |  |  | $ | 101,003 |  |  | 101,003 |
Total Liabilities | $ | 52,047 |  |  | $ | 244,195 |  |  | $ | 101,003 |  |  | $ | 397,245 |
Fair Value Inputs, Liabilities, Quantitative Information |
Quantitative Information about Level 3 Fair Value Measurements
| Fair Value | Valuation |  | Range
Item | February 28, 2013 | Technique | Unobservable Input | (Weighted Average)
Accrued liability for contingent crack spread payments related to purchase of noncontrolling interests | $ | 140,987 |  | Adjusted Black Scholes option pricing model | Adjusted forward crack spread margin on February 28 (a) | $24.74-$39.23 (30.24)
|  |  | Contractual target crack spread margin (b) | $17.50
|  |  | Expected volatility (c) | 71.36%
|  |  | Own credit risk (d) | 1.80-2.80% (2.42%)
|  |  | Expected life (years) (e) | 0.50-4.51 (2.90)
(a) Represents adjusted forward crack spread margin quotes and management estimates based on future settlement dates (b) Represents the minimum contractual threshold that would require settlement with the counterparties (c) Represents quarterly adjusted volatility estimates derived from daily historical market data (d) Represents the range of company-specific risk adjustments commensurate with typical long-term borrowing rates available to us at measurement date (e) Represents the range in the number of years remaining related to each contingent payment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table represents a reconciliation of liabilities measured at fair value using significant unobservable inputs (Level 3) for the six months ended February 28, 2013 and February 29, 2012, respectively:
|  | Level 3 Liabilities
|  | Accrued liability for contingent crack spread payments related to purchase of noncontrolling interests
|  | 2013 |  | 2012
Balances, September 1, 2012 and 2011, respectively |  | $ | 127,516 |  |  | $ | — |
Purchases |  |  |  | 105,188 |
Total (gains) losses included in cost of goods sold |  | 13,471 |  |  | (4,185 | )
Balances, February 28, 2013 and February 29, 2012, respectively |  | $ | 140,987 |  |  | $ | 101,003 |
The following table represents a reconciliation of liabilities measured at fair value using significant unobservable inputs (Level 3) for the three months ended February 28, 2013 and February 29, 2012, respectively:
|  | Level 3 Liabilities
|  | Accrued liability for contingent crack spread payments related to purchase of noncontrolling interests
|  | 2013 |  | 2012
Balances, December 1, 2012 and 2011, respectively |  | $ | 170,621 |  |  | $ | 105,188 |
Total (gains) losses included in cost of goods sold |  | (29,634 | ) |  | (4,185 | )
Balances, February 28, 2013 and February 29, 2012, respectively |  | $ | 140,987 |  |  | $ | 101,003 |

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- Definition Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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