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Benefit Plans (Tables) | 12 Months Ended
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Aug. 31, 2017
Retirement Benefits [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, 2017, and 2016, is as follows:
| Qualified Pension Benefits |  | Non-Qualified Pension Benefits |  | Other Benefits
| 2017 |  | 2016 |  | 2017 |  | 2016 |  | 2017 |  | 2016
| (Dollars in thousands)
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of period | $ | 812,749 |  |  | $ | 730,795 |  |  | $ | 32,696 |  |  | $ | 33,184 |  |  | $ | 36,779 |  |  | $ | 41,997 |
Service cost | 42,149 |  |  | 37,533 |  |  | 1,206 |  |  | 1,035 |  |  | 1,160 |  |  | 1,412 |
Interest cost | 22,999 |  |  | 30,773 |  |  | 843 |  |  | 1,406 |  |  | 930 |  |  | 1,709 |
Actuarial (gain) loss | (10,054 | ) |  | 361 |  |  | (5,692 | ) |  | (3,333 | ) |  | (4,650 | ) |  | (4,892 | )
Assumption change | (17,750 | ) |  | 57,385 |  |  | (655 | ) |  | 2,679 |  |  | (775 | ) |  | 2,602 |
Plan amendments | — |  |  | 411 |  |  | — |  |  | (1,045 | ) |  | — |  |  | (4,495 | )
Settlements | — |  |  | — |  |  | (2,131 | ) |  | — |  |  | — |  |  | — |
Benefits paid | (43,919 | ) |  | (44,509 | ) |  | (668 | ) |  | (1,230 | ) |  | (1,608 | ) |  | (1,554 | )
Benefit obligation at end of period | $ | 806,174 |  |  | $ | 812,749 |  |  | $ | 25,599 |  |  | $ | 32,696 |  |  | $ | 31,836 |  |  | $ | 36,779 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of period | $ | 883,265 |  |  | $ | 796,379 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Actual gain (loss) on plan assets | 36,474 |  |  | 88,089 |  |  | — |  |  | — |  |  | — |  |  | — |
Company contributions | — |  |  | 43,306 |  |  | 2,799 |  |  | 1,230 |  |  | 1,608 |  |  | 1,554 |
Settlements | — |  |  | — |  |  | (2,131 | ) |  | — |  |  | — |  |  | — |
Benefits paid | (43,919 | ) |  | (44,509 | ) |  | (668 | ) |  | (1,230 | ) |  | (1,608 | ) |  | (1,554 | )
Fair value of plan assets at end of period | $ | 875,820 |  |  | $ | 883,265 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Funded status at end of period | $ | 69,646 |  |  | $ | 70,516 |  |  | $ | (25,599 | ) |  | $ | (32,696 | ) |  | $ | (31,836 | ) |  | $ | (36,779 | )
Amounts recognized on balance sheet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-current assets | $ | 70,019 |  |  | $ | 70,594 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Accrued benefit cost: |  |  |  |  |  |  |  |  |  |  |
Current liabilities | — |  |  | — |  |  | (2,270 | ) |  | (1,880 | ) |  | (2,140 | ) |  | (2,490 | )
Non-current liabilities | (373 | ) |  | (78 | ) |  | (23,329 | ) |  | (30,816 | ) |  | (29,696 | ) |  | (34,289 | )
Ending balance | $ | 69,646 |  |  | $ | 70,516 |  |  | $ | (25,599 | ) |  | $ | (32,696 | ) |  | $ | (31,836 | ) |  | $ | (36,779 | )
Amounts recognized in accumulated other comprehensive loss (pretax): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) | $ | 2,481 |  |  | $ | 4,021 |  |  | $ | 363 |  |  | $ | (641 | ) |  | $ | (4,281 | ) |  | $ | (4,847 | )
Net (gain) loss | 236,232 |  |  | 275,146 |  |  | (70 | ) |  | 7,815 |  |  | (16,864 | ) |  | (12,235 | )
Ending balance | $ | 238,713 |  |  | $ | 279,167 |  |  | $ | 293 |  |  | $ | 7,174 |  |  | $ | (21,145 | ) |  | $ | (17,082 | )
Schedule of net benefit costs of assumptions used | Components of net periodic benefit costs for the years ended August 31, 2017, 2016, and 2015 are as follows:
| Qualified Pension Benefits |  | Non-Qualified Pension Benefits |  | Other Benefits
| 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016 |  | 2015
| (Dollars in thousands)
Components of net periodic benefit costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 42,149 |  |  | $ | 37,533 |  |  | $ | 36,006 |  |  | $ | 1,206 |  |  | $ | 1,035 |  |  | $ | 875 |  |  | $ | 1,160 |  |  | $ | 1,412 |  |  | $ | 1,513 |
Interest cost | 22,999 |  |  | 30,773 |  |  | 28,046 |  |  | 843 |  |  | 1,406 |  |  | 1,414 |  |  | 930 |  |  | 1,709 |  |  | 1,489 |
Expected return on assets | (48,235 | ) |  | (48,055 | ) |  | (49,746 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Settlement of retiree obligations | — |  |  | — |  |  | — |  |  | (30 | ) |  | — |  |  | 1,635 |  |  | — |  |  | — |  |  | — |
Prior service cost (credit) amortization | 1,540 |  |  | 1,606 |  |  | 1,631 |  |  | 19 |  |  | 228 |  |  | 228 |  |  | (565 | ) |  | (120 | ) |  | (426 | )
Actuarial loss amortization | 22,869 |  |  | 19,016 |  |  | 19,621 |  |  | 546 |  |  | 692 |  |  | 1,058 |  |  | (798 | ) |  | (464 | ) |  | (431 | )
Net periodic benefit cost | $ | 41,322 |  |  | $ | 40,873 |  |  | $ | 35,558 |  |  | $ | 2,584 |  |  | $ | 3,361 |  |  | $ | 5,210 |  |  | $ | 727 |  |  | $ | 2,537 |  |  | $ | 2,145 |
Weighted-average assumptions to determine the net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate | 3.60 | % |  | 4.20 | % |  | 4.00 | % |  | 3.30 | % |  | 4.20 | % |  | 4.00 | % |  | 3.30 | % |  | 4.20 | % |  | 4.20 | %
Expected return on plan assets | 5.75 | % |  | 6.00 | % |  | 6.50 | % |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |
Rate of compensation increase | 5.60 | % |  | 4.90 | % |  | 4.90 | % |  | 5.60 | % |  | 4.90 | % |  | 5.15 | % |  | N/A |  |  | N/A |  |  | N/A |
Weighted-average assumptions to determine the benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate | 3.80 | % |  | 3.60 | % |  | 4.20 | % |  | 3.55 | % |  | 3.30 | % |  | 4.50 | % |  | 3.60 | % |  | 3.30 | % |  | 3.75 | %
Rate of compensation increase | 5.10 | % |  | 5.60 | % |  | 4.90 | % |  | 5.10 | % |  | 5.60 | % |  | 4.80 | % |  | 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 2018 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) | $ | 1,540 |  |  | $ | 30 |  |  | $ | (565 | )
Amortization of net actuarial (gain) loss | 18,073 |  |  | 61 |  |  | (1,224 | )
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 | $ | 240 |  |  | $ | (200 | )
Effect on postretirement benefit obligation | 2,500 |  |  | (2,200 | )
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 Gross
| (Dollars in thousands)
2018 | $ | 64,044 |  |  | $ | 2,270 |  |  | $ | 2,140 |
2019 | 61,510 |  |  | 2,170 |  |  | 2,240 |
2020 | 59,997 |  |  | 1,960 |  |  | 2,510 |
2021 | 61,753 |  |  | 1,950 |  |  | 2,530 |
2022 | 62,869 |  |  | 2,440 |  |  | 2,670 |
2023-2027 | 325,797 |  |  | 11,960 |  |  | 12,750 |
Schedule of defined benefit plans, fair value disclosure | pension plans’ recurring fair value measurements by asset category at August 31, 2017, and 2016, are presented in the tables below:
| 2017
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Dollars in thousands)
Cash and cash equivalents | $ | 9,988 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,988 |
Equities: |  |  |  |  |  |  |  |  |  |  |
Mutual funds | 459 |  |  | — |  |  | — |  |  | 459 |
Common/collective trust at net asset value (1) | — |  |  | — |  |  | — |  |  | 231,228 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |
Common/collective trust at net asset value (1) | — |  |  | — |  |  | — |  |  | 535,185 |
Partnership and joint venture interests measured at net asset value (1) | — |  |  | — |  |  | — |  |  | 96,994 |
Other assets measured at net asset value (1) | — |  |  | — |  |  | — |  |  | 1,966 |
Total | $ | 10,447 |  |  | $ | — |  |  | $ | — |  |  | $ | 875,820 |
| 2016
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (Dollars in thousands)
Cash and cash equivalents | $ | 4,841 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,841 |
Equities: |  |  |  |  |  |  |  |  |  |  |
Mutual funds | 507 |  |  | — |  |  | — |  |  | 507 |
Common/collective trust at net asset value (1) | — |  |  | — |  |  | — |  |  | 228,717 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |
Common/collective trust at net asset value (1) | — |  |  | — |  |  | — |  |  | 551,604 |
Partnership and joint venture interests measured at net asset value (1) | — |  |  | — |  |  | — |  |  | 95,744 |
Other assets measured at net asset value (1) | — |  |  | — |  |  | — |  |  | 1,852 |
Total | $ | 5,348 |  |  | $ | — |  |  | $ | — |  |  | $ | 883,265 |
Schedule of multiemployer plans | participation in the Co-op Plan for the years ended August 31, 2017, 2016, and 2015 is outlined in the table below:
|  |  |  | Contributions of CHS |  |  |  |
|  |  |  | (Dollars in thousands) |  |  |  |
Plan Name |  | EIN/Plan Number |  | 2017 |  | 2016 |  | 2015 |  | Surcharge Imposed |  | Expiration Date of Collective Bargaining Agreement
Co-op Retirement Plan |  | 01-0689331 / 001 |  | $ | 1,653 |  |  | $ | 1,862 |  |  | $ | 2,021 |  |  | N/A |  | N/A

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