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Notes Payable and Long-Term Debt (Tables)

12 Months Ended

Aug. 31, 2014

Debt Disclosure [Abstract]

Schedule of Short-term Debt [Table Text Block]

		Weighted-average Interest Rate
		2014		2013		2014				2013
						(Dollars in thousands)
Notes payable (a)		1.69%		2.00%		$	840,699			$	521,864
CHS Capital notes payable (b)		1.07%		1.23%		318,774				367,448
Total notes payable						$	1,159,473			$	889,312

Schedule of Long-term Debt Instruments

Long-term debt as of August 31, 2014 and 2013 consisted of the following:

			2014				2013
			(Dollars in thousands)
5.59% unsecured revolving term loans from cooperative and other banks, due in equal installments beginning in 2013 through 2018			$	105,000			$	135,000
6.18% unsecured notes $400 million face amount, due in equal installments beginning in 2014 through 2018			320,000				400,000
5.60% unsecured notes $60 million face amount, due in equal installments beginning in 2012 through 2018			32,308				41,539
5.25% unsecured notes $125 million face amount, due in equal installments beginning in 2011 through 2015			25,000				50,000
5.78% unsecured notes $50 million face amount, due in equal installments beginning in 2014 through 2018			40,000				50,000
4.00% unsecured notes $100 million face amount, due in equal installments beginning in 2017 through 2021			100,000				100,000
4.08% unsecured notes $130 million face amount, due in 2019 (a)			130,840				130,000
4.52% unsecured notes $160 million face amount, due in 2021			160,000				160,000
4.67% unsecured notes $130 million face amount, due in 2023 (a)			133,360				130,000
3.85% unsecured notes $80 million face amount, due in 2025			80,000				80,000
3.80% unsecured notes $100 million face amount, due in 2025			100,000				100,000
4.82% unsecured notes $80 million face amount, due in 2026			80,000				80,000
4.71% unsecured notes $100 million face amount, due in 2033			100,000				100,000
Other notes and contracts with interest rates from 1.30% to 15.25% (b)			49,992				50,493
Total long-term debt			1,456,500				1,607,032
Less current portion			156,836				156,612
Long-term portion			$	1,299,664			$	1,450,420

_______________________________________

^(a)  We have entered into interest rate swaps designated as fair value hedging relationships with these notes. Changes in the fair value of the swaps are recorded each period with a corresponding adjustment to the carrying value of the debt. See Note 12, Derivative Financial Instruments and Hedging Activities for more information.

^(b)  Other notes and contracts payable of $14.3 million were collateralized on August 31, 2014.

Schedule of Maturities of Long-Term Debt

Long-term debt outstanding as of August 31, 2014 has aggregate maturities, excluding fair value adjustments, as follows:

	(Dollars in thousands)
2015	$	156,836
2016	139,326
2017	149,852
2018	162,119
2019	150,622
Thereafter	693,545
Total	$	1,452,300

Schedule of Interest,Net

Interest, net for the years ended August 31, 2014, 2013 and 2012 was as follows:

	2014				2013				2012
	(Dollars in thousands)
Interest expense	$	79,614			$	99,271			$	94,090
Interest - purchase of NCRA noncontrolling interests	70,843				149,087				113,184
Capitalized interest	(8,528		)		(10,579		)		(8,882		)
Interest income	(6,987		)		(6,212		)		(5,129		)
Interest, net	$	134,942			$	231,567			$	193,263

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