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Equities | 6 Months Ended
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Feb. 28, 2019
Equity [Abstract] |
Equities | Equities Changes in Equities Changes in equities for the six months ended February 28, 2019, and 2018 are as follows:
| Equity Certificates |  |  |  | Accumulated Other Comprehensive Loss |  |  |  |  |  |
| Capital Equity Certificates |  | Nonpatronage Equity Certificates |  | Nonqualified Equity Certificates |  | Preferred Stock |  |  | Capital Reserves |  | Noncontrolling Interests |  | Total Equities
| (Dollars in thousands)
Balance, August 31, 2018 | $ | 3,837,580 |  |  | $ | 29,498 |  |  | $ | 742,378 |  |  | $ | 2,264,038 |  |  | $ | (199,915 | ) |  | $ | 1,482,003 |  |  | $ | 9,446 |  |  | $ | 8,165,028 |
Reversal of prior year redemption estimates | 24,072 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24,072 |
Redemptions of equities | (22,004 | ) |  | (183 | ) |  | (1,885 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (24,072 | )
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (84,334 | ) |  | — |  |  | (84,334 | )
Reclassification of unrealized (gain) loss on investments | — |  |  | — |  |  | — |  |  | — |  |  | (4,706 | ) |  | 4,706 |  |  | — |  |  | — |
Other, net | (409 | ) |  | — |  |  | (26 | ) |  | — |  |  | — |  |  | 3,436 |  |  | 318 |  |  | 3,319 |
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 347,504 |  |  | (389 | ) |  | 347,115 |
Other comprehensive income (loss), net of tax | — |  |  | — |  |  | — |  |  | — |  |  | 389 |  |  | — |  |  | — |  |  | 389 |
Estimated 2019 cash patronage refunds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (89,344 | ) |  | — |  |  | (89,344 | )
Estimated 2019 equity redemptions | (50,081 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (50,081 | )
Balance, November 30, 2018 | $ | 3,789,158 |  |  | $ | 29,315 |  |  | $ | 740,467 |  |  | $ | 2,264,038 |  |  | $ | (204,232 | ) |  | $ | 1,663,971 |  |  | $ | 9,375 |  |  | $ | 8,292,092 |
Reversal of prior year patronage and redemption estimates | 6,681 |  |  | — |  |  | (345,330 | ) |  | — |  |  | — |  |  | 420,330 |  |  | — |  |  | 81,681 |
Distribution of 2018 patronage refunds | — |  |  | — |  |  | 349,353 |  |  | — |  |  | — |  |  | (424,333 | ) |  | — |  |  | (74,980 | )
Redemptions of equities | (5,988 | ) |  | (74 | ) |  | (619 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (6,681 | )
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (42,167 | ) |  | — |  |  | (42,167 | )
Other, net | (774 | ) |  | — |  |  | 2,589 |  |  | — |  |  | — |  |  | (2,888 | ) |  | (581 | ) |  | (1,654 | )
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 248,766 |  |  | (462 | ) |  | 248,304 |
Other comprehensive income (loss), net of tax | — |  |  | — |  |  | — |  |  | — |  |  | 14,884 |  |  | — |  |  | — |  |  | 14,884 |
Estimated 2019 cash patronage refunds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (69,400 | ) |  | — |  |  | (69,400 | )
Estimated 2019 equity redemptions | (39,850 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (39,850 | )
Balance, February 28, 2019 | $ | 3,749,227 |  |  | $ | 29,241 |  |  | $ | 746,460 |  |  | $ | 2,264,038 |  |  | $ | (189,348 | ) |  | $ | 1,794,279 |  |  | $ | 8,332 |  |  | $ | 8,402,229 |
| Equity Certificates |  |  |  | Accumulated Other Comprehensive Loss* |  |  |  |  |  |
| Capital Equity Certificates |  | Nonpatronage Equity Certificates |  | Nonqualified Equity Certificates |  | Preferred Stock |  |  | Capital Reserves* |  | Noncontrolling Interests* |  | Total Equities*
| (Dollars in thousands)
Balance, August 31, 2017 | $ | 3,906,426 |  |  | $ | 29,836 |  |  | $ | 405,387 |  |  | $ | 2,264,038 |  |  | $ | (180,360 | ) |  | $ | 1,267,808 |  |  | $ | 12,505 |  |  | $ | 7,705,640 |
Reversal of prior year redemption estimates | 1,561 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,561 |
Redemptions of equities | (1,449 | ) |  | (53 | ) |  | (59 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,561 | )
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (84,334 | ) |  | — |  |  | (84,334 | )
Other, net | (1,498 | ) |  | (66 | ) |  | (344 | ) |  | — |  |  | — |  |  | 3,954 |  |  | (2 | ) |  | 2,044 |
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 187,646 |  |  | (464 | ) |  | 187,182 |
Other comprehensive income (loss), net of tax | — |  |  | — |  |  | — |  |  | — |  |  | 3,019 |  |  | — |  |  | — |  |  | 3,019 |
Estimated 2018 cash patronage refunds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (50,702 | ) |  | — |  |  | (50,702 | )
Estimated 2018 equity redemptions | (19,901 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (19,901 | )
Balance, November 30, 2017 (As Restated) | $ | 3,885,139 |  |  | $ | 29,717 |  |  | $ | 404,984 |  |  | $ | 2,264,038 |  |  | $ | (177,341 | ) |  | $ | 1,324,372 |  |  | $ | 12,039 |  |  | $ | 7,742,948 |
Reversal of prior year patronage and redemption estimates | 1,060 |  |  | — |  |  | (126,333 | ) |  | — |  |  | — |  |  | 126,333 |  |  | — |  |  | 1,060 |
Distribution of 2017 patronage refunds | — |  |  | — |  |  | 128,858 |  |  | — |  |  | — |  |  | (128,858 | ) |  | — |  |  | — |
Redemptions of equities | (953 | ) |  | (16 | ) |  | (91 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,060 | )
Preferred stock dividends | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (42,167 | ) |  | — |  |  | (42,167 | )
Other, net | (2,652 | ) |  | (45 | ) |  | (1 | ) |  | — |  |  | — |  |  | 816 |  |  | (60 | ) |  | (1,942 | )
Net income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 166,007 |  |  | (48 | ) |  | 165,959 |
Other comprehensive income (loss), net of tax | — |  |  | — |  |  | — |  |  | — |  |  | 10,111 |  |  | — |  |  | — |  |  | 10,111 |
Estimated 2018 cash patronage refunds | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,823 |  |  | — |  |  | 3,823 |
Estimated 2018 equity redemptions | (12,375 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (12,375 | )
Balance, February 28, 2018 (As Restated) | $ | 3,870,219 |  |  | $ | 29,656 |  |  | $ | 407,417 |  |  | $ | 2,264,038 |  |  | $ | (167,230 | ) |  | $ | 1,450,326 |  |  | $ | 11,931 |  |  | $ | 7,866,357 |
* Certain amounts associated with Accumulated Other Comprehensive Loss, Capital Reserves and Noncontrolling Interests in the changes in equities table above were restated to reflect the impact of the misstatements associated with the restatement of previously issued financial statements. Note that the majority of the restatement adjustments within the changes in equities table above relate to the opening restatement adjustments to the August 31, 2017, balances. Additionally, the misstatements for activity in the changes in equities table above relates primarily to net income (loss) during the first quarter of fiscal 2018. Refer to further details included within Note 2, Restatement of Previously Issued Financial Information. Preferred Stock Dividends The following is a summary of dividends per share by class of preferred stock for the three and six months ended February 28, 2019, and 2018. Note that due to the timing of dividend declarations during the first quarter of each fiscal year, the per share amount of dividends is comprised of two quarterly dividend declarations for those periods.
|  |  | For the Three Months Ended February 28, |  | For the Six Months Ended February 28,
| Nasdaq symbol |  | 2019 |  | 2018 |  | 2019 |  | 2018
| (Dollars per share)
8% Cumulative Redeemable | CHSCP |  | $ | 0.50 |  |  | 0.50 |  |  | 1.50 |  |  | 1.50 |
Class B Cumulative Redeemable, Series 1 | CHSCO |  | $ | 0.49 |  |  | 0.49 |  |  | 1.48 |  |  | 1.48 |
Class B Reset Rate Cumulative Redeemable, Series 2 | CHSCN |  | $ | 0.44 |  |  | 0.44 |  |  | 1.33 |  |  | 1.33 |
Class B Reset Rate Cumulative Redeemable, Series 3 | CHSCM |  | $ | 0.42 |  |  | 0.42 |  |  | 1.27 |  |  | 1.27 |
Class B Cumulative Redeemable, Series 4 | CHSCL |  | $ | 0.47 |  |  | 0.47 |  |  | 1.41 |  |  | 1.41 |
Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows for the six months ended February 28, 2019, and 2018:
| Pension and Other Postretirement Benefits |  | Unrealized Net Gain on Available for Sale Investments |  | Cash Flow Hedges |  | Foreign Currency Translation Adjustment |  | Total
| (Dollars in thousands)
Balance as of August 31, 2018, net of tax | $ | (140,335 | ) |  | $ | 8,861 |  |  | $ | (5,882 | ) |  | $ | (62,559 | ) |  | $ | (199,915 | )
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |
Amounts before reclassifications | 175 |  |  | — |  |  | (317 | ) |  | (25 | ) |  | (167 | )
Amounts reclassified out | 2,565 |  |  | — |  |  | (1,475 | ) |  | — |  |  | 1,090 |
Total other comprehensive income (loss), before tax | 2,740 |  |  | — |  |  | (1,792 | ) |  | (25 | ) |  | 923 |
Tax effect | (639 | ) |  | — |  |  | 485 |  |  | (380 | ) |  | (534 | )
Other comprehensive income (loss), net of tax | 2,101 |  |  | — |  |  | (1,307 | ) |  | (405 | ) |  | 389 |
Reclassifications | 416 |  |  | (8,861 | ) |  | 983 |  |  | 2,756 |  |  | (4,706 | )
Balance as of November 30, 2018, net of tax | $ | (137,818 | ) |  | $ | — |  |  | $ | (6,206 | ) |  | $ | (60,208 | ) |  | $ | (204,232 | )
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |
Amounts before reclassifications | 102 |  |  | — |  |  | 18,954 |  |  | 3,176 |  |  | 22,232 |
Amounts reclassified out | 2,564 |  |  | — |  |  | (5,677 | ) |  | — |  |  | (3,113 | )
Total other comprehensive income (loss), before tax | 2,666 |  |  | — |  |  | 13,277 |  |  | 3,176 |  |  | 19,119 |
Tax effect | (664 | ) |  | — |  |  | (3,308 | ) |  | (263 | ) |  | (4,235 | )
Other comprehensive income (loss), net of tax | 2,002 |  |  | — |  |  | 9,969 |  |  | 2,913 |  |  | 14,884 |
Balance as of February 28, 2019, net of tax | $ | (135,816 | ) |  | $ | — |  |  | $ | 3,763 |  |  | $ | (57,295 | ) |  | $ | (189,348 | )
| Pension and Other Postretirement Benefits |  | Unrealized Net Gain on Available for Sale Investments |  | Cash Flow Hedges |  | Foreign Currency Translation Adjustment |  | Total
| (Dollars in thousands)
Balance as of August 31, 2017, net of tax | $ | (132,444 | ) |  | $ | 10,041 |  |  | $ | (6,954 | ) |  | $ | (51,003 | ) |  | $ | (180,360 | )
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |
Amounts before reclassifications | — |  |  | 4,044 |  |  | (435 | ) |  | (612 | ) |  | 2,997 |
Amounts reclassified out | 4,214 |  |  | — |  |  | 429 |  |  | (2,042 | ) |  | 2,601 |
Total other comprehensive income (loss), before tax | 4,214 |  |  | 4,044 |  |  | (6 | ) |  | (2,654 | ) |  | 5,598 |
Tax effect | (2,620 | ) |  | (404 | ) |  | 2 |  |  | 443 |  |  | (2,579 | )
Other comprehensive income (loss), net of tax | 1,594 |  |  | 3,640 |  |  | (4 | ) |  | (2,211 | ) |  | 3,019 |
Balance as of November 30, 2017, net of tax (As Restated) | $ | (130,850 | ) |  | $ | 13,681 |  |  | $ | (6,958 | ) |  | $ | (53,214 | ) |  | $ | (177,341 | )
Other comprehensive income (loss), before tax: |  |  |  |  |  |  |  |  |
Amounts before reclassifications | — |  |  | 6,562 |  |  | 1,081 |  |  | 2,774 |  |  | 10,417 |
Amounts reclassified out | 4,451 |  |  | (1,527 | ) |  | 425 |  |  | — |  |  | 3,349 |
Total other comprehensive income (loss), before tax | 4,451 |  |  | 5,035 |  |  | 1,506 |  |  | 2,774 |  |  | 13,766 |
Tax effect | (1,309 | ) |  | (1,481 | ) |  | (443 | ) |  | (422 | ) |  | (3,655 | )
Other comprehensive income (loss), net of tax | 3,142 |  |  | 3,554 |  |  | 1,063 |  |  | 2,352 |  |  | 10,111 |
Balance as of February 28, 2018, net of tax (As Restated) | $ | (127,708 | ) |  | $ | 17,235 |  |  | $ | (5,895 | ) |  | $ | (50,862 | ) |  | $ | (167,230 | )
Amounts reclassified from accumulated other comprehensive income (loss) were related to pension and other postretirement benefits, cash flow hedges, available for sale investments and foreign currency translation adjustments. Pension and other postretirement reclassifications include amortization of net actuarial loss, prior service credit and transition amounts and are recorded as cost of goods sold and marketing, general and administrative expenses (see Note 11, Benefit Plans, for further information). Amortization related to gains or losses on cash flow hedges was recorded to interest expense. Gains or losses on the sale of available for sale investments are recorded to other income. Foreign currency translation reclassifications related to sales of businesses are recorded to other income.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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