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Fair Value Measurements (Tables)

12 Months Ended

Aug. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities recognized at fair value on a recurring basis

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 securities			225,715						—						—						225,715
Other assets			89,592						—						—						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 securities			238,124						—						—						238,124
Other assets			58,280						—						—						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

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- References

No definition available.

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