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Fair Value Measurements
 12 Months Ended
Aug. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
    ASC Topic 820, Fair Value Measurement, defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date.

    We determine fair values of derivative instruments and certain other assets, based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. ASC Topic 820 describes three levels within its hierarchy that may be used to measure fair value, and our assessment of relevant instruments within those levels is as follows:

    Level 1. Values are based on unadjusted quoted prices in active markets for identical assets or liabilities. These assets and liabilities may include exchange-traded derivative instruments, rabbi trust investments, segregated investments and marketable securities.

    Level 2. Values are based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. These assets and liabilities include interest rate, foreign exchange and commodity swaps; forward commodity contracts with a fixed price component; and other OTC derivatives whose values are determined with inputs that are based on exchange traded prices, adjusted for location-specific
inputs that are primarily observable in the market or can be derived principally from, or corroborated by, observable market data.

    Level 3. Values are generated from unobservable inputs that are supported by little or no market activity and that are a significant component of the fair value of the assets or liabilities. These unobservable inputs would reflect our own estimates of assumptions that market participants would use in pricing related assets or liabilities. Valuation techniques might include the use of pricing models, discounted cash flow models or similar techniques.

    The following tables present assets and liabilities, included on our Consolidated Balance Sheets, that are recognized at fair value on a recurring basis and indicate the fair value hierarchy utilized to determine these fair values. Assets and liabilities are classified in their entirety based on the lowest level of input that is a significant component of the fair value measurement. The lowest level of input is considered Level 3. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the classification of fair value assets and liabilities within the fair value hierarchy levels.

    Recurring fair value measurements as of August 31, 2023 and 2022, are as follows:
2023
Quoted Prices in Active Markets
for Identical Assets
(Level 1)		Significant Other Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
 (Dollars in thousands)
Assets    
Commodity derivatives$5,344 $283,491 $— $288,835 
Foreign currency derivatives— 32,402 — 32,402 
Segregated investments and marketable securities225,715 — — 225,715 
Other assets89,592 — — 89,592 
Total$320,651 $315,893 $— $636,544 
Liabilities    
Commodity derivatives$7,501 $346,975 $— $354,476 
Foreign currency derivatives— 13,799 — 13,799 
Total$7,501 $360,774 $— $368,275 
 2022
Quoted Prices in Active Markets
for Identical Assets
(Level 1)		Significant Other Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
 (Dollars in thousands)
Assets    
Commodity derivatives$1,161 $490,160 $— $491,321 
Foreign currency derivatives— 52,923 — 52,923 
Segregated investments and marketable securities238,124 — — 238,124 
Other assets58,280 — — 58,280 
Total$297,565 $543,083 $— $840,648 
Liabilities    
Commodity derivatives$10,256 $379,883 $— $390,139 
Foreign currency derivatives— 12,649 — 12,649 
Total$10,256 $392,532 $— $402,788 
    Commodity and foreign currency derivatives. Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified within Level 1. Our forward commodity purchase and sales contracts with fixed-price components, select ocean freight contracts and other OTC derivatives are determined using inputs that are generally based on exchange traded prices and/or recent market bids and offers, including location-specific adjustments, and are classified within Level 2. Location-specific inputs are driven by local market supply and demand and are generally based on broker or dealer quotations or market transactions in either listed or OTC markets. Changes in the fair values of these contracts are recognized in our Consolidated Statements of Operations as a component of cost of goods sold.

    Segregated investments and marketable securities and other assets. Our segregated investments and marketable securities and other assets are comprised primarily of investments in various government agencies, U.S. Treasury securities, money market funds and rabbi trust assets, which are valued using quoted market prices and classified within Level 1.