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Revenues (Notes)
 3 Months Ended
Nov. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
    The following table presents revenues recognized under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), disaggregated by reportable segment, as well as the amount of revenues recognized under ASC Topic 815, Derivatives and Hedging ("ASC Topic 815"), and other applicable accounting guidance for the three months ended November 30, 2020 and 2019. Other applicable accounting guidance primarily includes revenues recognized under ASC Topic 842, Leases, and ASC Topic 470, Debt, that fall outside the scope of ASC Topic 606.
ASC Topic 606ASC Topic 815Other GuidanceTotal Revenues
Three Months Ended November 30, 2020(Dollars in thousands)
Energy$1,064,963 $192,884 $— $1,257,847 
Ag1,344,508 6,087,241 13,653 7,445,402 
Corporate and Other6,460 — 5,934 12,394 
Total revenues
$2,415,931 $6,280,125 $19,587 $8,715,643 
Three Months Ended November 30, 2019
Energy$1,693,848 $201,575 $— $1,895,423 
Ag1,358,626 4,316,087 37,142 5,711,855 
Corporate and Other5,541 — 8,666 14,207 
Total revenues
$3,058,015 $4,517,662 $45,808 $7,621,485 

    Less than 1% of revenues accounted for under ASC Topic 606 included within the table above are recorded over time; these revenues are primarily related to service contracts.

Contract Assets and Contract Liabilities

    Contract assets relate to unbilled amounts arising from goods that have already been transferred to the customer where the right to payment is not conditional on the passage of time. This results in recognition of an asset, as the amount of revenue recognized at a certain point in time exceeds the amount billed to the customer. Contract assets are recorded in receivables within our Condensed Consolidated Balance Sheets and were not material as of November 30, 2020, or August 31, 2020.

    Contract liabilities relate to advance payments from customers for goods and services that we have yet to provide. Contract liabilities of $183.9 million and $139.1 million as of November 30, 2020, and August 31, 2020, respectively, are recorded within other current liabilities on our Condensed Consolidated Balance Sheets. For the three months ended November 30, 2020 and 2019, we recognized revenues of $60.7 million and $92.0 million, respectively, which were included in the other current liabilities balance at the beginning of the respective periods.