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Other Assets | 12 Months Ended
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Aug. 31, 2018
Other Assets [Abstract] |
Other Assets | Other Assets Other assets as of August 31, 2018, and 2017, are as follows:
| 2018 |  | (As Restated) 2017
| (Dollars in thousands)
Goodwill | $ | 138,464 |  |  | $ | 138,454 |
Customer lists, trademarks and other intangible assets | 29,338 |  |  | 33,330 |
Notes receivable | 211,986 |  |  | 51,586 |
Deferred purchase price receivable | — |  |  | 345,655 |
Long-term derivative assets | 23,084 |  |  | 40,897 |
Prepaid pension and other benefits | 101,539 |  |  | 122,433 |
Capitalized major maintenance | 130,780 |  |  | 105,006 |
Cash value life insurance | 123,010 |  |  | 118,677 |
Other | 76,128 |  |  | 124,343 |
| $ | 834,329 |  |  | $ | 1,080,381 |
Changes in the net carrying amount of goodwill for the years ended August 31, 2018, and 2017, by segment, are as follows:
| Energy |  | Ag |  | Corporate and Other |  | Total
| (Dollars in thousands)
Balances, August 31, 2016 - As previously reported | $ | 552 |  |  | $ | 148,916 |  |  | $ | 10,946 |  |  | $ | 160,414 |
Cumulative restatement adjustments | — |  |  | (16,130 | ) |  | — |  |  | (16,130 | )
Balances, August 31, 2016 - As restated | 552 |  |  | 132,786 |  |  | 10,946 |  |  | 144,284 |
Effect of foreign currency translation adjustments | — |  |  | 352 |  |  | — |  |  | 352 |
Impairment | — |  |  | (5,542 | ) |  | — |  |  | (5,542 | )
Other | — |  |  | (268 | ) |  | (372 | ) |  | (640 | )
Balances, August 31, 2017 - As restated | $ | 552 |  |  | $ | 127,328 |  |  | $ | 10,574 |  |  | $ | 138,454 |
Effect of foreign currency translation adjustments | — |  |  | 10 |  |  | — |  |  | 10 |
Other | — |  |  | — |  |  | — |  |  | — |
Balances, August 31, 2018 | $ | 552 |  |  | $ | 127,338 |  |  | $ | 10,574 |  |  | $ | 138,464 |
No goodwill has been allocated to our Nitrogen Production segment, which consists of a single investment accounted for under the equity method. All long-lived assets, including property, plant and equipment, goodwill, investments in unconsolidated affiliates and other identifiable intangible assets, are evaluated for impairment in accordance with U.S. GAAP. Goodwill is evaluated for impairment annually as of July 31. All long-lived assets, including goodwill, are also evaluated for impairment whenever triggering events or other circumstances indicate that the carrying amount of an asset group or reporting unit may not be recoverable. No material impairments related to long-lived assets were recorded, and no goodwill impairments were identified as a result of CHS’s annual goodwill analyses performed as of July 31, 2018. During the year ended August 31, 2017, certain assets and liabilities associated with a disposal group in our Ag segment were classified as held for sale, including $5.5 million of goodwill allocated to the disposal group on a relative fair value basis. As a result of impairment tests performed over the disposal group, impairment charges of $78.8 million, which includes the allocated goodwill, were recorded in the reserve and impairment charges (recoveries), net line item in the Consolidated Statements of Operations for the year ended August 31, 2017. The disposal group assets were sold during the year ended August 31, 2018, and the related recoveries were recorded in the reserve and impairment charges (recoveries), net line item in the Consolidated Statements of Operations. Intangible assets subject to amortization primarily include customer lists, trademarks and non-compete agreements, and are amortized over their respective useful lives (ranging from 2 to 30 years). Information regarding intangible assets included in other assets on our Consolidated Balance Sheets is as follows:
| August 31, 2018 |  | August 31, 2017
| Carrying Amount |  | Accumulated Amortization |  | Net |  | Carrying Amount |  | Accumulated Amortization |  | Net
| (Dollars in thousands)
Customer lists | $ | 40,815 |  |  | $ | (13,082 | ) |  | $ | 27,733 |  |  | $ | 46,180 |  |  | $ | (14,695 | ) |  | $ | 31,485 |
Trademarks and other intangible assets | 6,536 |  |  | (4,931 | ) |  | 1,605 |  |  | 23,623 |  |  | (21,778 | ) |  | 1,845 |
Total intangible assets | $ | 47,351 |  |  | $ | (18,013 | ) |  | $ | 29,338 |  |  | $ | 69,803 |  |  | $ | (36,473 | ) |  | $ | 33,330 |
Intangible asset amortization expense for the years ended August 31, 2018, 2017, and 2016, was $3.4 million, $4.3 million and $6.1 million, respectively. The estimated annual amortization expense related to intangible assets subject to amortization for the next five years is as follows:
| (Dollars in thousands)
2019 | $ | 3,355 |
2020 | 3,272 |
2021 | 3,201 |
2022 | 2,989 |
2023 | 2,910 |
Thereafter | 13,515 |
Total | $ | 29,242 |
Activity related to capitalized major maintenance costs at our refineries for the years ended August 31, 2018, 2017, and 2016, is summarized below:
| Balance at Beginning of Year |  | Cost Deferred |  | Amortization |  | Balance at End of Year
| (Dollars in thousands)
2018 | $ | 105,006 |  |  | $ | 87,460 |  |  | $ | (61,686 | ) |  | $ | 130,780 |
2017 | 169,054 |  |  | 3,010 |  |  | (67,058 | ) |  | 105,006 |
2016 | 241,588 |  |  | 949 |  |  | (73,483 | ) |  | 169,054 |

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