Benefit Plans (Tables)

12 Months Ended

Aug. 31, 2015

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, 2015 and 2014 is as follows:



	Qualified Pension Benefits						Non-Qualified Pension Benefits						Other Benefits
	2015			2014			2015			2014			2015			2014
	(Dollars in thousands)
Change in benefit obligation:
Benefit obligation at beginning of period	$	720,893		$	641,284		$	37,983		$	36,225		$	44,318		$	45,542
Service cost	36,006			30,417			875			860			1,513			1,729
Interest cost	28,046			29,900			1,414			1,660			1,489			1,918
Actuarial (gain) loss	20,993			1,973			393			393			1,563			(4,135		)
Assumption change	(16,297		)	57,406			(1,082		)	2,421			(5,136		)	1,425
Plan amendments	—			647			—			—			—			—
Settlements	—			—			(5,715		)	—			—			—
Benefits paid	(58,846		)	(40,734		)	(684		)	(3,576		)	(1,750		)	(2,161		)
Benefit obligation at end of period	$	730,795		$	720,893		$	33,184		$	37,983		$	41,997		$	44,318
Change in plan assets:
Fair value of plan assets at beginning of period	$	822,125		$	730,628		$	—		$	—		$	—		$	—
Actual gain (loss) on plan assets	(6,065		)	106,531			—			—			—			—
Company contributions	39,165			25,700			6,399			3,576			1,750			2,161
Settlements	—			—			(5,715		)	—			—			—
Benefits paid	(58,846		)	(40,734		)	(684		)	(3,576		)	(1,750		)	(2,161		)
Fair value of plan assets at end of period	$	796,379		$	822,125		$	—		$	—		$	—		$	—
Funded status at end of period	$	65,584		$	101,232		$	(33,184	)	$	(37,983	)	$	(41,997	)	$	(44,318	)
Amounts recognized on balance sheet:
Non-current assets	$	65,927		$	103,125		$	—		$	—		$	—		$	—
Accrued benefit cost:
Current liabilities	—			—			(1,752		)	(3,222		)	(2,708		)	(2,787		)
Non-current liabilities	(343		)	(1,893		)	(31,432		)	(34,761		)	(39,289		)	(41,531		)
Ending balance	$	65,584		$	101,232		$	(33,184	)	$	(37,983	)	$	(41,997	)	$	(44,318	)
Amounts recognized in accumulated other comprehensive loss (pretax):
Prior service cost (credit)	$	5,217		$	6,848		$	631		$	859		$	(472	)	$	(592	)
Net (gain) loss	276,450			235,564			9,161			12,542			(10,409		)	(7,573		)
Ending balance	$	281,667		$	242,412		$	9,792		$	13,401		$	(10,881	)	$	(8,165	)

Schedule of net benefit costs of assumptions used

Components of net periodic benefit costs for the years ended August 31, 2015, 2014 and 2013 are as follows:



	Qualified Pension Benefits									Non-Qualified Pension Benefits									Other Benefits
	2015			2014			2013			2015			2014			2013			2015			2014			2013
	(Dollars in thousands)
Components of net periodic benefit costs:
Service cost	$	36,006		$	30,417		$	31,387		$	875		$	860		$	721		$	1,513		$	1,729		$	2,936
Interest cost	28,046			29,900			25,445			1,414			1,660			1,316			1,489			1,918			2,275
Expected return on assets	(49,746		)	(47,655		)	(49,728		)	—			—			—			—			—			—
Settlement of retiree obligations	—			—			—			1,635			—			—			—			—			—
Prior service cost (credit) amortization	1,631			1,593			1,597			228			229			228			(426		)	(493		)	(120		)
Actuarial loss amortization	19,621			18,228			22,615			1,058			957			921			(431		)	(180		)	1,104
Transition amount amortization	—			—			—			—			—			—			—			—			562
Net periodic benefit cost	$	35,558		$	32,483		$	31,316		$	5,210		$	3,706		$	3,186		$	2,145		$	2,974		$	6,757
Weighted-average assumptions to determine the net periodic benefit cost:
Discount rate	4.00		%	4.80		%	3.80		%	4.00		%	4.50		%	4.25		%	4.20		%	3.75		%	3.75		%
Expected return on plan assets	6.50		%	6.75		%	7.25		%	N/A			N/A			N/A			N/A			N/A			N/A
Rate of compensation increase	4.90		%	4.85		%	4.50		%	5.15		%	4.75		%	4.75		%	N/A			N/A			N/A
Weighted-average assumptions to determine the benefit obligations:
Discount rate	4.20		%	4.00		%	4.80		%	4.50		%	4.50		%	4.50		%	3.75		%	4.60		%	3.75		%
Rate of compensation increase	4.90		%	4.90		%	4.85		%	4.80		%	4.80		%	4.75		%	N/A			N/A			N/A

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

The estimated amortization in fiscal 2016 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)	$	1,626	$	228	$	(120	)
Amortization of net actuarial (gain) loss	19,017		692		(464		)

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	$	500	$	(380	)
Effect on postretirement benefit obligation	3,600		(3,200		)

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
	(Dollars in thousands)
2016	$	37,593	$	1,753	$	2,708
2017	48,935		2,292		2,781
2018	52,646		1,981		2,909
2019	52,565		2,552		3,017
2020	55,026		2,939		3,175
2021-2025	307,130		23,288		16,831

Schedule of defined benefit plans, fair value disclosure

pension plans’ recurring fair value measurements by asset category at August 31, 2015 and 2014 are presented in the tables below:



	2015
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Cash and cash equivalents	$	4,882	$	—	$	—	$	4,882
Equities:
Mutual funds	91,619		—		—		91,619
Common/collective trust at net asset value ⁽¹⁾	—		—		—		194,463
Fixed income securities:
Mutual funds	133,556		20,560		—		154,116
Common/collective trust at net asset value ⁽¹⁾	—		—		—		296,684
Partnership and joint venture interests measured at net asset value ⁽¹⁾	—		—		—		52,640
Other assets measured at net asset value ⁽¹⁾	—		—		—		1,975
Total	$	230,057	$	20,560	$	—	$	796,379



	2014
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Cash and cash equivalents	$	4,218	$	—	$	—	$	4,218
Equities:
Mutual funds	84,830		18,085		—		102,915
Common/collective trust at net asset value ⁽¹⁾	—		—		—		48,400
Fixed income securities:
Mutual funds	138,458		8,726		—		147,184
Common/collective trust at net asset value ⁽¹⁾	—		—		—		479,800
Partnership and joint venture interests measured at net asset value ⁽¹⁾	—		—		—		37,649
Other assets measured at net asset value ⁽¹⁾	—		—		—		1,959
Total	$	227,506	$	26,811	$	—	$	822,125

Schedule of multiemployer plans

participation in the Co-op Plan for the years ended August 31, 2015, 2014, and 2013 is outlined in the table below:



		Contributions of CHS
		(Dollars in thousands)
Plan Name	EIN/Plan Number	2015		2014		2013		Surcharge Imposed	Expiration Date of Collective Bargaining Agreement
Co-op Retirement Plan	01-0689331 / 001	$	2,021	$	2,079	$	2,095	N/A	N/A