Benefit Plans (Tables)

12 Months Ended

Aug. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of defined benefit plans disclosures

Financial information on changes in benefit obligation, plan assets funded and balance sheets status as of August 31, 2014 and 2013 is as follows:



	Qualified Pension Benefits						Non-Qualified Pension Benefits						Other Benefits
	2014			2013			2014			2013			2014			2013
	(Dollars in thousands)
Change in benefit obligation:
Benefit obligation at beginning of period	$	641,284		$	671,066		$	36,225		$	34,470		$	45,542		$	64,189
Service cost	30,417			31,387			860			721			1,729			2,936
Interest cost	29,900			25,445			1,660			1,316			1,918			2,275
Actuarial loss (gain)	1,973			12,819			393			3,455			(4,135		)	(5,243		)
Assumption change	57,406			(64,483		)	2,421			(1,952		)	1,425			(16,693		)
Plan amendments	647			—			—			—			—			—
Medicare D	—			—			—			—			—			92
Benefits paid	(40,734		)	(34,950		)	(3,576		)	(1,785		)	(2,161		)	(2,014		)
Benefit obligation at end of period	$	720,893		$	641,284		$	37,983		$	36,225		$	44,318		$	45,542
Change in plan assets:
Fair value of plan assets at beginning of period	$	730,628		$	688,196		$	—		$	—		$	—		$	—
Actual gain (loss) on plan assets	106,531			53,582			—			—			—			—
Company contributions	25,700			23,800			3,576			1,785			2,161			2,014
Benefits paid	(40,734		)	(34,950		)	(3,576		)	(1,785		)	(2,161		)	(2,014		)
Fair value of plan assets at end of period	$	822,125		$	730,628		$	—		$	—		$	—		$	—
Funded status at end of period	$	101,232		$	89,344		$	(37,983	)	$	(36,225	)	$	(44,318	)	$	(45,542	)
Amounts recognized on balance sheet:
Non-current assets	$	103,125		$	89,930		$	—		$	—		$	—		$	—
Accrued benefit cost:
Current liabilities	—			—			(3,222		)	(3,051		)	(2,787		)	(2,919		)
Non-current liabilities	(1,893		)	(586		)	(34,761		)	(33,174		)	(41,531		)	(42,623		)
Ending balance	$	101,232		$	89,344		$	(37,983	)	$	(36,225	)	$	(44,318	)	$	(45,542	)
Amounts recognized in accumulated other comprehensive loss (pretax):
Prior service cost (credit)	$	6,848		$	7,794		$	859		$	1,088		$	(592	)	$	(712	)
Net (gain) loss	235,564			253,288			12,542			10,685			(7,573		)	(5,415		)
Ending balance	$	242,412		$	261,082		$	13,401		$	11,773		$	(8,165	)	$	(6,127	)

Schedule of net benefit costs of assumptions used

Components of net periodic benefit costs for the years ended August 31, 2014, 2013 and 2012 are as follows:



	Qualified Pension Benefits									Non-Qualified Pension Benefits									Other Benefits
	2014			2013			2012			2014			2013			2012			2014			2013			2012
	(Dollars in thousands)
Components of net periodic benefit costs:
Service cost	$	30,417		$	31,387		$	26,010		$	860		$	721		$	279		$	1,729		$	2,936		$	2,556
Interest cost	29,900			25,445			24,119			1,660			1,316			1,343			1,918			2,275			2,638
Expected return on assets	(47,655		)	(49,728		)	(40,904		)	—			—			—			—			—			—
Settlement of retiree obligations	—			—			—			—			—			—			—			—			—
Prior service cost (credit) amortization	1,593			1,597			1,831			229			228			228			(493		)	(120		)	(104		)
Actuarial loss amortization	18,228			22,615			15,131			957			921			428			(180		)	1,104			891
Transition amount amortization	—			—			—			—			—			—			—			562			936
Net periodic benefit cost	$	32,483		$	31,316		$	26,187		$	3,706		$	3,186		$	2,278		$	2,974		$	6,757		$	6,917
Weighted-average assumptions to determine the net periodic benefit cost:
Discount rate	4.80		%	3.80		%	5.00		%	4.50		%	4.25		%	5.00		%	3.75		%	3.75		%	4.75		%
Expected return on plan assets	6.75		%	7.25		%	7.25		%	N/A			N/A			N/A			N/A			N/A			N/A
Rate of compensation increase	4.85		%	4.50		%	4.50		%	4.75		%	4.75		%	4.75		%	4.50		%	4.50		%	4.50		%
Weighted-average assumptions to determine the benefit obligations:
Discount rate	4.00		%	4.80		%	3.80		%	4.50		%	4.50		%	4.00		%	4.60		%	3.75		%	3.75		%
Rate of compensation increase	4.90		%	4.85		%	4.50		%	4.80		%	4.75		%	4.75		%	4.50		%	4.50		%	4.50		%

Schedule of amounts in accumulated other comprehensive income (loss) to be recognized over next fiscal year

The estimated amortization in fiscal 2015 from accumulated other comprehensive loss into net periodic benefit cost is as follows:



	Qualified Pension Benefits		Non-Qualified Pension Benefits		Other Benefits
	(Dollars in thousands)
Amortization of prior service cost (benefit)	$	1,648	$	229	$	(120	)
Amortization of net actuarial (gain) loss	19,604		1,044		(421		)

Schedule of effect of one-percentage-point change in assumed health care cost trend rates

A one-percentage point change in the assumed health care cost trend rates would have the following effects:



	1% Increase		1% Decrease
	(Dollars in thousands)
Effect on total of service and interest cost components	$	390	$	(370	)
Effect on postretirement benefit obligation	5,000		(4,800		)

Schedule of expected benefit payments

retiree benefit payments which reflect expected future service are anticipated to be paid as follows:



	Qualified Pension Benefits		Non-Qualified Pension Benefits		Other Benefits
	Qualified Pension Benefits		Non-Qualified Pension Benefits		Gross		Medicare D
	(Dollars in thousands)
2015	$	35,797	$	3,222	$	2,787	$	100
2016	44,287		721		2,911		100
2017	49,495		3,474		3,085		100
2018	49,844		1,461		3,222		100
2019	52,956		5,575		3,280		100
2020-2024	295,700		23,145		18,101		500

Schedule of defined benefit plans, fair value disclosure

pension plans’ fair value measurements at August 31, 2014 and 2013 are as follows:



	2014
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Cash and cash equivalents	$	4,218	$	—	$	—	$	4,218
Equities:
Mutual funds	84,830		66,485		—		151,315
Fixed income securities:
Mutual funds	138,458		488,526		1,749		628,733
Partnership and joint venture interests	—		28,157		9,492		37,649
Other	—		—		210		210
Total	$	227,506	$	583,168	$	11,451	$	822,125



	2013
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Cash and cash equivalents	$	667	$	—	$	—	$	667
Equities:
Mutual funds	113,982		80,619		—		194,601
Fixed income securities:
Mutual funds	75,729		409,996		1,940		487,665
Partnership and joint venture interests	—		26,014		3,403		29,417
Other	—		—		18,278		18,278
Total	$	190,378	$	516,629	$	23,621	$	730,628

Schedule of changes in fair value of plan assets

The following tables set forth a summary of changes in the fair value of the plan’s Level 3 assets for the years ended August 31, 2014 and 2013:



	2014
	Mutual Funds			Partnership and Joint Venture Interests		Real Estate Funds			Hedge Funds			Total
	(Dollars in thousands)
Balances at beginning of period	$	1,940		$	3,403	$	18,156		$	122		$	23,621
Unrealized gains (losses)	(3		)	118		543			5			663
Realized gains (losses)	79			187		—			—			266
Sales	(12		)	—		(18,604		)	(14		)	(18,630		)
Purchases	—			5,784		2			—			5,786
Transfers out of level 3	(255		)	—		—			—			(255		)
Total	$	1,749		$	9,492	$	97		$	113		$	11,451



	2013
	Mutual Funds			Partnership and Joint Venture Interests		Real Estate Funds			Hedge Funds			Total
	(Dollars in thousands)
Balances at beginning of period	$	1,868		$	—	$	16,257		$	127		$	18,252
Unrealized gains (losses)	(4		)	—		1,894			7			1,897
Realized gains (losses)	82			—		(10		)	—			72
Sales	(12		)	—		—			(12		)	(24		)
Purchases	—			3,403		15			—			3,418
Transfers into level 3	6			—		—			—			6
Total	$	1,940		$	3,403	$	18,156		$	122		$	23,621

Schedule of multiemployer plans

participation in the Co-op Plan for the years ended August 31, 2014, 2013, and 2012 is outlined in the table below:



		Contributions of CHS
		(Dollars in thousands)
Plan Name	EIN/Plan Number	2014		2013		2012		Surcharge Imposed	Expiration Date of Collective Bargaining Agreement
Co-op Retirement Plan	01-0689331 / 001	$	2,079	$	2,095	$	1,885	N/A	N/A

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

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