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Fair Value Measurements
12 Months Ended
Aug. 31, 2025
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 use of observable inputs and minimize 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 classification of fair value assets and liabilities within the fair value hierarchy levels.
    Recurring fair value measurements as of August 31, 2025 and 2024, are as follows:
2025
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$3,153 $132,535 $— $135,688 
Foreign exchange derivatives— 43,527 — 43,527 
Segregated investments and marketable securities34,303 135,675 — 169,978 
Other assets110,532 — — 110,532 
Total$147,988 $311,737 $— $459,725 
Liabilities    
Commodity derivatives$1,110 $166,798 $— $167,908 
Foreign exchange derivatives— 11,771 — 11,771 
Total$1,110 $178,569 $— $179,679 

 2024
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$2,454 $168,481 $— $170,935 
Foreign exchange derivatives— 9,029 — 9,029 
Segregated investments and marketable securities15,069 136,258 — 151,327 
Time deposits— 500,921 — 500,921 
Other assets83,008 — — 83,008 
Total$100,531 $814,689 $— $915,220 
Liabilities    
Commodity derivatives$1,641 $222,943 $— $224,584 
Foreign exchange derivatives— 24,476 — 24,476 
Total$1,641 $247,419 $— $249,060 

    Commodity and foreign exchange 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, time deposits and other assets. Our segregated investments and marketable securities and other assets are comprised primarily of investments in U.S. Treasury securities, common stock, money market funds, various government agencies, time deposits and rabbi trust assets. U.S. Treasury securities, common stock and money market funds are valued using quoted market prices and classified within Level 1. Investments in various government agency obligations, time deposits and rabbi trust assets are valued using quoted prices for similar assets in active markets, quoted prices for identical or similar assets 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 and classified within Level 2.