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Notes Payable and Long-Term Debt (Tables) | 12 Months Ended
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Aug. 31, 2021
Debt Disclosure [Abstract] |
Schedule of notes payable | Notes payable as of August 31, 2021 and 2020, consisted of the following:
|  | Weighted-average Interest Rate |  |  |  |
|  | 2021 |  | 2020 |  | 2021 |  | 2020
|  |  |  |  |  | (Dollars in thousands)
Notes payable |  | 1.18% |  | 1.96% |  | $ | 864,147 |  |  | $ | 763,215 |
CHS Capital notes payable |  | 1.00% |  | 1.29% |  | 876,712 |  |  | 812,276 |
Total notes payable |  | $ | 1,740,859 |  |  | $ | 1,575,491 |
Schedule of amounts included in long-term debt | Amounts included in long-term debt on our Consolidated Balance Sheets as of August 31, 2021 and 2020, are presented in the table below:
|  |  | 2021 |  | 2020
|  |  | (Dollars in thousands)
4.00% unsecured notes $100 million face amount, due in equal installments beginning in fiscal 2017 through fiscal 2021 |  | $ | — |  |  | $ | 20,000 |
4.52% unsecured notes $160 million face amount, due in fiscal 2021 |  | — |  |  | 162,090 |
4.67% unsecured notes $130 million face amount, due in fiscal 2023 |  | 134,873 |  |  | 137,623 |
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 |  | 153,101 |  |  | 154,012 |
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 |
3.24% unsecured notes $95 million face amount, due in fiscal 2027 |  | 95,000 |  |  | — |
4.74% unsecured notes $95 million face amount, due in fiscal 2028 |  | 95,000 |  |  | 95,000 |
3.48% unsecured notes $100 million face amount, due in fiscal 2030 |  | 100,000 |  |  | — |
4.89% unsecured notes $100 million face amount, due in fiscal 2031 |  | 100,000 |  |  | 100,000 |
3.58% unsecured notes $65 million face amount, due in fiscal 2032 |  | 65,000 |  |  | — |
4.71% unsecured notes $100 million face amount, due in fiscal 2033 |  | 100,000 |  |  | 100,000 |
3.73% unsecured notes $115 million face amount, due in fiscal 2035 |  | 115,000 |  |  | — |
5.40% unsecured notes $125 million face amount, due in fiscal 2036 |  | 125,000 |  |  | 125,000 |
Private placement debt |  | 1,552,974 |  |  | 1,363,725 |
2.25% unsecured term loans from cooperative and other banks, due in fiscal 2025 (a) |  | — |  |  | 366,000 |
Bank financing |  | — |  |  | 366,000 |
Finance lease liabilities |  | 36,034 |  |  | 31,460 |
Other notes and contracts with interest rates from 2.6% to 9.0% |  | 33,443 |  |  | 34,709 |
Deferred financing costs |  | (4,090) |  |  | (4,771) |
Total long-term debt |  | 1,618,361 |  |  | 1,791,123 |
Less current portion |  | 38,450 |  |  | 189,287 |
Long-term portion |  | $ | 1,579,911 |  |  | $ | 1,601,836 |
(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, 2021, 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)
2022 | $ | 31,108 |
2023 | 282,860 |
2024 | 837 |
2025 | 330,549 |
2026 | 80,034 |
Thereafter | 853,034 |
Total | $ | 1,578,422 |

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