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Notes Payable and Long-Term Debt (Tables) | 12 Months Ended
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Aug. 31, 2020
Debt Disclosure [Abstract] |
Schedule of notes payable | Notes payable as of August 31, 2020 and 2019, consisted of the following:
|  | Weighted-average Interest Rate |  |  |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  |  |  |  |  | (Dollars in thousands)
Notes payable |  | 1.96% |  | 3.36% |  | $ | 763,215 |  |  | $ | 1,330,550 |
CHS Capital notes payable |  | 1.29% |  | 2.90% |  | 812,276 |  |  | 825,558 |
Total notes payable |  | $ | 1,575,491 |  |  | $ | 2,156,108 |
Summary of primary lines of credit | The following table summarizes our primary lines of credit as of August 31, 2020 and 2019:
Primary Revolving Credit Facilities |  | Fiscal Year of Maturity |  | Total Capacity |  | Borrowings Outstanding |  | Interest Rates
|  |  |  | 2020 |  | 2020 |  | 2019 |  |
|  |  |  | (Dollars in thousands) |  |
Committed five-year unsecured facility |  | 2024 |  | $ | 2,750,000 |  |  | $ | 345,000 |  |  | $ | 335,000 |  |  | LIBOR or base rate +0.00% to 1.55%
Uncommitted bilateral facilities* |  | 2021 |  | 300,000 |  |  | — |  |  | 430,000 |  |  | LIBOR or base rate + applicable margin
Schedule of amounts included in long-term debt | Amounts included in long-term debt on our Consolidated Balance Sheets as of August 31, 2020 and 2019, are presented in the table below.
|  |  | 2020 |  | 2019
|  |  | (Dollars in thousands)
4.00% unsecured notes $100 million face amount, due in equal installments beginning in fiscal 2017 through fiscal 2021 |  | $ | 20,000 |  |  | $ | 40,000 |
4.52% unsecured notes $160 million face amount, due in fiscal 2021 |  | 162,090 |  |  | 161,978 |
4.67% unsecured notes $130 million face amount, due in fiscal 2023 |  | 137,623 |  |  | 136,086 |
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 |  | 154,012 |  |  | 151,776 |
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 |  | 1,363,725 |  |  | 1,379,840 |
2.25% unsecured term loans from cooperative and other banks, due in fiscal 2025 (a) |  | 366,000 |  |  | 366,000 |
Bank financing |  | 366,000 |  |  | 366,000 |
Finance lease liabilities |  | 31,460 |  |  | 28,239 |
Other notes and contracts with interest rates from 0.0% to 10.0% |  | 34,709 |  |  | 18,601 |
Deferred financing costs |  | (4,771) |  |  | (3,569) |
Total long-term debt |  | 1,791,123 |  |  | 1,789,111 |
Less current portion |  | 189,287 |  |  | 39,210 |
Long-term portion |  | $ | 1,601,836 |  |  | $ | 1,749,901 |
(a) 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, 2020, has aggregate maturities, excluding fair value adjustments and finance leases (see Note 19, Leases, for a schedule of minimum future lease payments under finance leases), as follows:
| (Dollars in thousands)
2021 | $ | 181,628 |
2022 | 30,828 |
2023 | 282,828 |
2024 | 780 |
2025 | 696,780 |
Thereafter | 558,103 |
Total | $ | 1,750,947 |

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