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Correction of immaterial errors (Notes) | 9 Months Ended
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May 31, 2016
Accounting Changes and Error Corrections [Abstract] |
Accounting Changes and Error Corrections [Text Block] | Correction of Immaterial Errors Lease Accounting We lease rail cars, equipment, vehicles and other assets under noncancelable lease agreements for use in our agricultural and transportation operations in our Energy and Ag segments. During the fourth quarter of fiscal 2015, we determined that we had historically applied the accounting principles of ASC Topic 840, Leases, incorrectly by accounting for all of our lease arrangements as operating leases. We subsequently determined that certain of our leases met, at lease inception, one or more of the ASC 840-10-25-1 criteria that require a lease to be classified and accounted for as a capital lease. Consequently, prior period amounts in the financial statements, notes thereto and related disclosures have been revised to adjust for these errors. Statement of Cash Flows Presentation During the fourth quarter of fiscal 2015, we determined that our historical presentation of cash flows related to the acquisition of property, plant and equipment and expenditures for major repairs was incorrect. Amounts presented as cash outflows in prior periods included acquisitions of assets for which cash had not yet been paid, resulting in misstatements of both investing and operating cash flows. We have revised prior period amounts in the financial statements, notes thereto and related disclosures to correct these errors. Materiality Assessment We assessed the materiality of the misstatements described above on prior period financial statements in accordance with SEC Staff Accounting Bulletin ("SAB") No. 99, Materiality, codified in ASC 250-10, Accounting Changes and Error Corrections ("ASC 250"), and concluded these misstatements were not material to any prior annual or interim periods. Accordingly, in accordance with ASC 250 (SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements), our consolidated financial statements as of and for the three and nine months ended May 31, 2015, which are presented herein, have been revised. The following are selected line items from our consolidated financial statements illustrating the effects of these revisions:
| CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Three Months Ended |  | For the Nine Months Ended
| May 31, 2015 |  | May 31, 2015
| As Previously Reported |  | Revision |  | As Revised |  | As Previously Reported |  | Revision |  | As Revised
| (Dollars in thousands)
Cost of goods sold | $ | 8,430,249 |  |  | $ | (1,223 | ) |  | $ | 8,429,026 |  |  | $ | 25,450,359 |  |  | $ | (3,809 | ) |  | $ | 25,446,550 |
Gross profit | 310,656 |  |  | 1,223 |  |  | 311,879 |  |  | 1,145,742 |  |  | 3,809 |  |  | 1,149,551 |
Operating earnings | 145,315 |  |  | 1,223 |  |  | 146,538 |  |  | 647,658 |  |  | 3,809 |  |  | 651,467 |
Interest expense, net | 9,557 |  |  | 1,223 |  |  | 10,780 |  |  | 39,648 |  |  | 3,809 |  |  | 43,457 |
Income before income taxes | 170,508 |  |  | — |  |  | 170,508 |  |  | 696,632 |  |  | — |  |  | 696,632 |
|  | For the Nine Months Ended
|  | May 31, 2015
|  | As Previously Reported |  | Revision |  | As Revised
Cash flows from operating activities: |  |  |  |  |  |
Depreciation and amortization |  | $ | 227,323 |  |  | $ | 28,750 |  |  | $ | 256,073 |
Changes in operating assets and liabilities, excluding the effects of acquisitions: |  |  |  |  |  |
Accounts payable and accrued expenses |  | (301,956 | ) |  | 16,025 |  |  | (285,931 | )
Net cash provided by (used in) operating activities |  | (71,286 | ) |  | 44,775 |  |  | (26,511 | )
Cash flows from investing activities: |  |  |  |  |  |
Acquisition of property, plant and equipment |  | (827,228 | ) |  | (31,272 | ) |  | (858,500 | )
Expenditures for major repairs |  | (145,550 | ) |  | 15,248 |  |  | (130,302 | )
Net cash provided by (used in) investing activities |  | (1,303,288 | ) |  | (16,024 | ) |  | (1,319,312 | )
Cash flows from financing activities: |  |  |  |  |  |
Principal payments on capital lease obligations (1) |  | — |  |  | (29,886 | ) |  | (29,886 | )
Other financing activities, net |  | 151 |  |  | (401 | ) |  | (250 | )
Net cash provided by (used in) financing activities |  | 344,892 |  |  | (28,751 | ) |  | 316,141 |
(1) Principal payments on capital lease obligations are now included as part of the "Payments on lines of credit, long-term debt and capital lease obligations" line item on our Consolidated Statements of Cash Flows.

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22595-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e30840-122693 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N + Details
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