XML 35 R7.htm IDEA: XBRL DOCUMENT
v3.22.1

Revenues (Notes) | 6 Months Ended
--- | ---
Feb. 28, 2022
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 and six months ended February 28, 2022 and 2021. Other applicable accounting guidance primarily includes revenues recognized under ASC Topic 470, Debt, and ASC Topic 842, Leases, that fall outside the scope of ASC Topic 606.
|  | ASC Topic 606 |  | ASC Topic 815 |  | Other Guidance |  | Total Revenues
Three Months Ended February 28, 2022 |  | (Dollars in thousands)
Energy |  | $ | 1,849,505 |  |  | $ | 178,494 |  |  | $ | — |  |  | $ | 2,027,999 |
Ag |  | 2,066,065 |  |  | 6,224,661 |  |  | 5,205 |  |  | 8,295,931 |
Corporate and Other |  | 3,989 |  |  | — |  |  | 4,669 |  |  | 8,658 |
Total revenues |  | $ | 3,919,559 |  |  | $ | 6,403,155 |  |  | $ | 9,874 |  |  | $ | 10,332,588 |
Three Months Ended February 28, 2021 |  |  |  |  |  |  |  |
Energy |  | $ | 1,243,072 |  |  | $ | 129,086 |  |  | $ | — |  |  | $ | 1,372,158 |
Ag |  | 1,169,411 |  |  | 5,753,333 |  |  | 15,468 |  |  | 6,938,212 |
Corporate and Other |  | 4,535 |  |  | — |  |  | 5,254 |  |  | 9,789 |
Total revenues |  | $ | 2,417,018 |  |  | $ | 5,882,419 |  |  | $ | 20,722 |  |  | $ | 8,320,159 |
|  | ASC Topic 606 |  | ASC Topic 815 |  | Other Guidance |  | Total Revenues
Six Months Ended February 28, 2022 |  | (Dollars in thousands)
Energy |  | $ | 3,896,781 |  |  | $ | 435,205 |  |  | $ | — |  |  | $ | 4,331,986 |
Ag |  | 4,597,682 |  |  | 12,254,260 |  |  | 13,248 |  |  | 16,865,190 |
Corporate and Other |  | 7,579 |  |  | — |  |  | 8,590 |  |  | 16,169 |
Total revenues |  | $ | 8,502,042 |  |  | $ | 12,689,465 |  |  | $ | 21,838 |  |  | $ | 21,213,345 |
Six Months Ended February 28, 2021 |  |  |  |  |  |  |  |
Energy |  | $ | 2,308,036 |  |  | $ | 321,969 |  |  | $ | — |  |  | $ | 2,630,005 |
Ag |  | 2,513,910 |  |  | 11,840,572 |  |  | 29,132 |  |  | 14,383,614 |
Corporate and Other |  | 10,995 |  |  | — |  |  | 11,188 |  |  | 22,183 |
Total revenues |  | $ | 4,832,941 |  |  | $ | 12,162,541 |  |  | $ | 40,320 |  |  | $ | 17,035,802 |
Less than 1% of revenues accounted for under ASC Topic 606 included within the tables above are recorded over time and relate primarily to service contracts. Contract Assets and Contract Liabilities Contract assets relate to unbilled amounts arising from goods that have already been transferred to customers where the right to payment is not conditional on the passage of time. This results in the recognition of an asset, as the amount of revenue recognized at a certain point in time exceeds the amount billed to customers. Contract assets are recorded in receivables within our Condensed Consolidated Balance Sheets and were $21.6 million and $29.0 million as of February 28, 2022, and August 31, 2021, respectively. Contract liabilities relate to advance payments from customers for goods and services that we have yet to provide. Contract liabilities of $1.1 billion and $213.9 million as of February 28, 2022, and August 31, 2021, respectively, are recorded within other current liabilities on our Condensed Consolidated Balance Sheets. For the three months ended February 28, 2022 and 2021, we recognized revenues of $58.7 million and $19.9 million related to contract liabilities, respectively. For the six months ended February 28, 2022 and 2021, we recognized revenues of $165.8 million and $91.6 million related to contract liabilities, respectively. These amounts were included in the other current liabilities balance at the beginning of the respective period.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration