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Notes Payable and Long-Term Debt (Tables)

12 Months Ended

Aug. 31, 2019

Aug. 31, 2018

Debt Disclosure [Abstract]

Schedule of Deferred Purchase Price [Table Text Block]

.

During the period from July 2017 through an amendment of the Securitization Facility in June 2018, CHS accounted for Receivables sold under the Securitization Facility as a sale of financial assets pursuant to ASC 860, Transfers and Servicing, and the Receivables sold were derecognized from our Consolidated Balance Sheets. The following table is a reconciliation of the beginning and ending balances of the Deferred Purchase Price ("DPP") receivable, including the long-term portion included in other assets, for the year ended August 31, 2018.

	2018
	(Dollars in thousands)
Balance - beginning of year	$	548,602
Cash collections on DPP receivable	(10,961		)
Transfer of receivables	(386,900		)
Monthly settlements, net	(169,827		)
Fair value adjustment	19,086
Balance - end of year	$	—

Schedule of notes payable

Notes payable as of August 31, 2019 and 2018, consisted of the following:

		Weighted-average Interest Rate
		2019		2018		2019				2018
						(Dollars in thousands)
Notes payable		3.36%		3.50%		$	1,330,550			$	1,437,264
CHS Capital notes payable		2.90%		2.82%		825,558				834,932
Total notes payable						$	2,156,108			$	2,272,196

Summary of primary lines of credit

The following table summarizes our primary lines of credit as of August 31, 2019 and 2018:

Primary Revolving Credit Facilities		Fiscal Year of Maturity		Total Capacity				Borrowings Outstanding								Interest Rates
				2019				2019				2018
				(Dollars in thousands)
Committed five-year unsecured facility		2024		$	2,750,000			$	335,000			$	—			LIBOR or base rate +0.00% to 1.45%
Uncommitted bilateral facilities		2020		630,000				430,000				515,000				LIBOR or base rate +0.00% to 1.20%

Schedule of amounts included in long-term debt

Amounts included in long-term debt on our Consolidated Balance Sheets as of August 31, 2019 and 2018, are presented in the table below.

			2019				2018
			(Dollars in thousands)
4.00% unsecured notes $100 million face amount, due in equal installments beginning in fiscal 2017 through fiscal 2021			$	40,000			$	60,000
4.08% unsecured notes $130 million face amount, due in fiscal 2019 (a)			—				129,229
4.52% unsecured notes $160 million face amount, due in fiscal 2021 (a)			161,978				157,528
4.67% unsecured notes $130 million face amount, due in fiscal 2023 (a)			136,086				128,577
4.39% unsecured notes $152 million face amount, due in fiscal 2023			152,000				152,000
3.85% unsecured notes $80 million face amount, due in fiscal 2025			80,000				80,000
3.80% unsecured notes $100 million face amount, due in fiscal 2025			100,000				100,000
4.58% unsecured notes $150 million face amount, due in fiscal 2025			151,776				145,213
4.82% unsecured notes $80 million face amount, due in fiscal 2026			80,000				80,000
4.69% unsecured notes $58 million face amount, due in fiscal 2027			58,000				58,000
4.74% unsecured notes $95 million face amount, due in fiscal 2028			95,000				95,000
4.89% unsecured notes $100 million face amount, due in fiscal 2031			100,000				100,000
4.71% unsecured notes $100 million face amount, due in fiscal 2033			100,000				100,000
5.40% unsecured notes $125 million face amount, due in fiscal 2036			125,000				125,000
Private Placement debt			1,379,840				1,510,547
2.25% unsecured term loans from cooperative and other banks, due in fiscal 2025 (b)			366,000				366,000
Bank financing			366,000				366,000
Capital lease obligations			28,239				25,280
Other notes and contracts with interest rates from 1.30% to 15.25%			18,601				32,607
Deferred financing costs			(3,569		)		(4,179		)
Total long-term debt			1,789,111				1,930,255
Less current portion			39,210				167,565
Long-term portion			$	1,749,901			$	1,762,690

(a) We have entered into interest rate swaps designated as fair value hedging relationships with these notes. Changes in the fair value of the swaps are recorded each period with a corresponding adjustment to the carrying value of the debt. See Note 13, Derivative Financial Instruments and Hedging Activities, for more information.

(b) Borrowings are variable under the agreement and bear interest at a base rate (or LIBOR) plus an applicable margin.

Schedule of minimum future payments

Long-term debt outstanding as of August 31, 2019, has aggregate maturities, excluding fair value adjustments and capital leases (see Note 6, Property, Plant and Equipment, for a schedule of minimum future lease payments under capital leases), as follows:

	(Dollars in thousands)
2020	$	32,812
2021	180,663
2022	66
2023	282,066
2024	2,620
Thereafter	1,256,525
Total	$	1,754,752

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