XML 197 R64.htm IDEA: XBRL DOCUMENT v3.3.0.814
Notes Payable and Long-Term Debt - Footnote Narrative (Details)
 12 Months Ended 37 Months Ended
Aug. 31, 2015
USD ($)
bank
program
Aug. 31, 2014
USD ($)
Sep. 30, 2015
USD ($)
occurrence
Nov. 23, 2015
USD ($)
Debt Instrument [Line Items]        
Long-term Debt, Fair Value $ 1,300,000,000      
Notes payable 1,165,378,000 $ 1,159,473,000    
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge 8,000,000 4,200,000    
Long-term Debt 1,293,360,000      
Five-year revolving facilities | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Line of Credit Facility, Current Borrowing Capacity 2,500,000,000      
Line of credit facility, amount outstanding 0      
Three-Year Revolving Facility [Member] | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Line of Credit Facility, Current Borrowing Capacity 250,000,000      
Line of Credit Facility, Fair Value of Amount Outstanding 200,000,000      
Uncommitted lines of credit | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Long-term Line of Credit, Noncurrent 303,400,000      
Other international subsidiaries, lines of credit | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Line of credit facility, amount outstanding 310,200,000      
Line Of Credit, Collateralized Amount 216,700,000      
Credit facilities, commercial paper programs | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Line of Credit Facility, Current Borrowing Capacity 125,000,000      
Long-term Line of Credit, Noncurrent $ 0      
Line Of Credit Facility, Number Of Programs | program 2      
Line Of Credit Facility, Number Of Participating Banks | bank 2      
Line of credit facility maximum usage allowed to pay principal $ 100,000,000      
Miscellaneous short-term notes payable | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Line of credit facility, amount outstanding $ 100,000      
Revolving term loans from cooperative and other banks | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Interest rate 5.59%      
Long-term Debt $ 75,000,000 105,000,000    
Private placement, payable in equal installments beginning in 2014 through 2018 | Unsecured debt        
Debt Instrument [Line Items]        
Interest rate 6.18%      
Debt Instrument, Face Amount $ 400,000,000      
Long-term Debt $ 240,000,000 320,000,000    
Private placement, payable in installments through 2018 | Unsecured debt        
Debt Instrument [Line Items]        
Interest rate 5.60%      
Debt Instrument, Face Amount $ 60,000,000      
Long-term Debt $ 23,077,000 32,308,000    
Private placement, payable in equal installments beginning in 2011 through 2015 | Unsecured debt        
Debt Instrument [Line Items]        
Interest rate 5.25%      
Debt Instrument, Face Amount $ 125,000,000      
Long-term Debt $ 0 25,000,000    
Private placement, note purchase and private shelf agreement with Prudential Capital Group, payable in equal installments beginning in 2014 through 2018 | Notes Payable, Other Payables [Member]        
Debt Instrument [Line Items]        
Interest rate 5.78%      
Debt Instrument, Face Amount $ 50,000,000      
Long-term Debt $ 30,000,000 40,000,000    
Private placement, note purchase and private shelf agreement with Prudential Capital Group, payable in equal installments beginning in 2017 through 2021 | Notes Payable, Other Payables [Member]        
Debt Instrument [Line Items]        
Interest rate 4.00%      
Debt Instrument, Face Amount $ 100,000,000      
Long-term Debt 100,000,000 100,000,000    
Other notes and contracts | Secured debt        
Debt Instrument [Line Items]        
Long-term debt, gross 500,000      
Long-term Debt [1] $ 44,909,000 $ 43,751,000    
CHS Capital notes payable        
Debt Instrument [Line Items]        
Notes payable, weighted average interest rate [2] 1.05% 1.07%    
Short-term notes payable, note purchase agreements | Notes Payable, Other Payables [Member] | Cofina Funding, LLC        
Debt Instrument [Line Items]        
Line of credit facility, amount outstanding $ 0      
Short-term bank loans and notes payable current borrowing capacity $ 350,000,000      
Notes Payable, Other Payables [Member]        
Debt Instrument [Line Items]        
Notes payable, weighted average interest rate [3] 2.33% 1.69%    
Notes Payable, Other Payables [Member] | Cofina Funding, LLC        
Debt Instrument [Line Items]        
Notes payable, weighted average interest rate [3] 1.04%      
Notes Payable, Other Payables [Member] | Notes Payable, Other Payables [Member] | Revolving credit facility        
Debt Instrument [Line Items]        
Notes payable [3] $ 813,717,000 $ 840,699,000    
Master participation agreements | Notes Payable, Other Payables [Member]        
Debt Instrument [Line Items]        
Short-term bank loans and notes payable current borrowing capacity 145,700,000      
Notes payable $ 35,900,000      
Master participation agreements | Notes Payable, Other Payables [Member] | Minimum        
Debt Instrument [Line Items]        
Interest rate 1.64%      
Master participation agreements | Notes Payable, Other Payables [Member] | Maximum        
Debt Instrument [Line Items]        
Interest rate 3.70%      
Recourse loan commitments | Notes Payable, Other Payables [Member]        
Debt Instrument [Line Items]        
Short-term bank loans and notes payable current borrowing capacity $ 56,800,000      
Short-term debt, maximum borrowing capacity 300,000,000      
Notes payable $ 39,900,000      
Interest rate 1.62%      
Short-Term Notes Payable, Surplus Funds Program [Member] | Notes Payable, Other Payables [Member]        
Debt Instrument [Line Items]        
Notes payable $ 275,800,000      
Short-Term Notes Payable, Surplus Funds Program [Member] | Notes Payable, Other Payables [Member] | Minimum        
Debt Instrument [Line Items]        
Interest rate 0.10%      
Short-Term Notes Payable, Surplus Funds Program [Member] | Notes Payable, Other Payables [Member] | Maximum        
Debt Instrument [Line Items]        
Interest rate 0.90%      
Subsequent Event [Member] | Five-year revolving facilities | Line of credit | Revolving credit facility        
Debt Instrument [Line Items]        
Line of Credit Facility, Current Borrowing Capacity     $ 3,000,000,000  
Subsequent Event [Member] | Committed Term Loans, September 2015 [Member] | Secured debt        
Debt Instrument [Line Items]        
Debt Instrument, Term     10 years  
Debt Instrument, Face Amount     $ 600,000,000.0  
Debt Instrument, Withdrawal Occurrences During One Year Period | occurrence     10  
Long-term Debt       $ 0
Subsequent Event [Member] | Committed Term Loans, September 2015 [Member] | Secured debt | London Interbank Offered Rate (LIBOR) [Member] | Minimum        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate     1.50%  
Subsequent Event [Member] | Committed Term Loans, September 2015 [Member] | Secured debt | London Interbank Offered Rate (LIBOR) [Member] | Maximum        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate     2.00%  
Subsequent Event [Member] | Committed Term Loans, September 2015 [Member] | Secured debt | Base Rate [Member] | Minimum        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate     0.50%  
Subsequent Event [Member] | Committed Term Loans, September 2015 [Member] | Secured debt | Base Rate [Member] | Maximum        
Debt Instrument [Line Items]        
Debt Instrument, Basis Spread on Variable Rate     1.00%  
[1] Other notes and contracts payable of $0.5 million were collateralized on August 31, 2015.
[2] Cofina Funding, LLC ("Cofina Funding"), a wholly-owned subsidiary of CHS Capital, has available credit totaling $350.0 million as of August 31, 2015, under note purchase agreements with various purchasers, through the issuance of short-term notes payable. CHS Capital sells eligible commercial loans receivable it has originated to Cofina Funding, which are then pledged as collateral under the note purchase agreements. The notes payable issued by Cofina Funding bear interest at variable rates based on commercial paper with a weighted average rate of 1.04% as of August 31, 2015. There were no borrowings by Cofina Funding utilizing the issuance of commercial paper under the note purchase agreements as of August 31, 2015. CHS Capital has available credit under master participation agreements with numerous counterparties. Borrowings under these agreements are accounted for as secured borrowings and bear interest at variable rates ranging from 1.64% to 3.70% as of August 31, 2015. As of August 31, 2015, the total funding commitment under these agreements was $145.7 million, of which $35.9 million was borrowed. CHS Capital sells loan commitments it has originated to ProPartners Financial ("ProPartners") on a recourse basis. The total capacity for commitments under the ProPartners program is $300.0 million. The total outstanding commitments under the program totaled $56.8 million as of August 31, 2015, of which $39.9 million was borrowed under these commitments with an interest rate of 1.62%. CHS Capital borrows funds under short-term notes issued as part of a surplus funds program. Borrowings under this program are unsecured and bear interest at variable rates ranging from 0.10% to 0.90% as of August 31, 2015, and are due upon demand. Borrowings under these notes totaled $275.8 million as of August 31, 2015.
[3] On August 31, 2015, our primary committed line of credit was a $2.5 billion five-year, unsecured revolving credit facility with a syndication of domestic and international banks, with no amounts outstanding as of that date. In September 2015 this facility was amended and restated as a five-year, unsecured revolving credit facility with a committed amount of $3.0 billion that expires in September 2020. In addition to our primary revolving line of credit, we have a three-year $250.0 million committed revolving pre-export credit facility for CHS Agronegocio Industria e Comercio Ltda ("CHS Agronegocio"), our wholly-owned subsidiary, to provide financing for its working capital needs arising from its purchases and sales of grains, fertilizers and other agricultural products which expires in October 2016. The outstanding balance on this facility was $200.0 million as of August 31, 2015.As of August 31, 2015, our wholly-owned subsidiaries, CHS Europe S.a.r.l and CHS Agronegocio, had uncommitted lines of credit with $303.4 million outstanding. In addition, our other international subsidiaries had lines of credit with a total of $310.2 million outstanding as of August 31, 2015, of which $216.7 million was collateralized. We have two commercial paper programs with an aggregate capacity of $125.0 million, with two banks participating in our revolving credit facilities. Terms of our credit facilities allow a maximum usage of $100.0 million to pay principal under any commercial paper facility. On August 31, 2015 we had no commercial paper outstanding. Miscellaneous short-term notes payable totaled $0.1 million as of August 31, 2015.