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Investments | 3 Months Ended
--- | ---
Nov. 30, 2021
Investments [Abstract] |
Investments | Investments
| November 30, 2021 |  | August 31, 2021
| (Dollars in thousands)
Equity method investments: |  |  |
CF Industries Nitrogen, LLC | $ | 2,783,637 |  |  | $ | 2,667,164 |
Ventura Foods, LLC | 389,818 |  |  | 388,612 |
Ardent Mills, LLC | 225,889 |  |  | 220,132 |
TEMCO, LLC | 44,319 |  |  | 31,464 |
Other equity method investments | 235,511 |  |  | 232,923 |
Other investments | 130,335 |  |  | 128,816 |
Total investments | $ | 3,809,509 |  |  | $ | 3,669,111 |
Joint ventures and other investments, in which we have significant ownership and influence but not control, are accounted for in our condensed consolidated financial statements using the equity method of accounting. Our significant equity method investments consist of CF Industries Nitrogen, LLC ("CF Nitrogen"), Ventura Foods, LLC ("Ventura Foods"), Ardent Mills, LLC ("Ardent Mills"), and TEMCO, LLC ("TEMCO"), which are summarized below. In addition to the recognition of our share of income from equity method investments, our equity method investments are evaluated for indicators of other-than-temporary impairment on an ongoing basis in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). Other investments consist primarily of investments in cooperatives without readily determinable fair values and are generally recorded at cost, unless an impairment or other observable market price change occurs requiring an adjustment. We have approximately $575.2 million of cumulative undistributed earnings from our equity method investees included in the investments balance as of November 30, 2021. CF Nitrogen We have a $2.8 billion investment in CF Nitrogen, a strategic venture with CF Industries Holdings, Inc. ("CF Industries"). The investment consists of an approximate 10% membership interest (based on product tons) in CF Nitrogen. We account for this investment using the hypothetical liquidation at book value method, recognizing our share of the earnings and losses of CF Nitrogen as equity income from investments in our Nitrogen Production segment based on our contractual claims on the entity's net assets pursuant to the liquidation provisions of the CF Nitrogen Limited Liability Company Agreement, adjusted for semiannual cash distributions. The following table provides summarized unaudited financial information for our equity method investment in CF Nitrogen for the three months ended November 30, 2021 and 2020:
| Three Months Ended November 30,
| 2021 |  | 2020
| (Dollars in thousands)
Net sales | $ | 1,316,899 |  |  | $ | 606,340 |
Gross profit | 575,571 |  |  | 94,068 |
Net earnings | 562,593 |  |  | 81,173 |
Earnings attributable to CHS Inc. | 116,473 |  |  | 21,688 |
Ventura Foods, Ardent Mills and TEMCO We have a 50% interest in Ventura Foods, a joint venture with Mitsui & Co., that produces and distributes primarily edible oil-based products. We also have a 12% interest in Ardent Mills, which is a joint venture with Cargill, Incorporated ("Cargill") and Conagra Brands, Inc., and is the largest flour miller in the United States. Additionally, we have a 50% interest in TEMCO, which is a joint venture with Cargill focused on export elevation, primarily to Asia. We account for Ventura Foods, Ardent Mills and TEMCO as equity method investments. Our shares of the results of Ventura Foods and Ardent Mills are included in Corporate and Other and our share of the results of TEMCO is included in our Ag segment. The following table provides aggregate summarized unaudited financial information for our equity method investments in Ventura Foods, Ardent Mills and TEMCO for the three months ended November 30, 2021 and 2020:
| Three Months Ended November 30,
| 2021 |  | 2020
| (Dollars in thousands)
Net sales | $ | 2,313,761 |  |  | $ | 3,375,014 |
Gross profit | 238,883 |  |  | 204,426 |
Net earnings | 112,641 |  |  | 89,656 |
Earnings attributable to CHS Inc. | 26,737 |  |  | 25,178 |
Our investments in other equity method investees are not significant in relation to our condensed consolidated financial statements, either individually or in the aggregate.

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