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Income Taxes (Tables)

12 Months Ended

Aug. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of provision for (benefit from) income taxes

The provision for income taxes (benefit from) for the years ended August 31, 2025, 2024 and 2023 is as follows:

			2025						2024						2023
			(Dollars in thousands)
Current:
Federal			$	48,229					$	21,608					$	66,672
State			7,181						23,750						36,925
Foreign			(905)						30,338						3,735
Total current			54,505						75,696						107,332
Deferred:
Federal			(48,079)						(63,605)						7,799
State			9,028						(15,686)						(7,661)
Foreign			1,323						(1,277)						185
Total deferred			(37,728)						(80,568)						323
Total			$	16,777					$	(4,872)					$	107,655

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities as of August 31, 2025 and 2024, are as follows:

			2025						2024
			(Dollars in thousands)
Deferred tax assets:
Accrued expenses			$	52,850					$	56,062
Postretirement health care and deferred compensation			56,082						58,866
Tax credit carryforwards			92,421						91,114
Loss carryforwards			114,433						88,887
Nonqualified equity			560,521						533,784
Lease obligations			56,944						52,980
Capitalized research and development			115,499						69,556
Other			9,497						19,592
Deferred tax assets valuation allowance			(205,637)						(166,590)
Total deferred tax assets			852,610						804,251
Net deferred tax assets			$	13,950					$	—
Deferred tax liabilities:
Pension costs			$	2,083					$	7,003
Investments			120,667						130,171
Property, plant and equipment			601,539						618,419
Lease right of use assets			56,250						51,872
Software costs			58,121						—
Total deferred tax liabilities			838,660						807,465
Net deferred tax liabilities			$	—					$	3,214

Reconciliation of the statutory federal income tax rates to effective tax rates

The reconciliation of the statutory federal income tax rates to the effective tax rates for the years ended August 31, 2025, 2024 and 2023 is as follows:

			2025						2024						2023
Statutory federal income tax rate			21.0		%				21.0		%				21.0		%
State and local income taxes, net of federal income tax benefit			2.4						0.5						1.1
Patronage earnings			(7.8)						(12.6)						(13.0)
Domestic production activities deduction			(12.9)						(6.8)						(3.2)
Export activities at rates other than the U.S. statutory rate			(3.3)						1.4						(0.2)
Increase in unrecognized tax benefits			2.8						2.7						—
Valuation allowance			2.8						(0.1)						—
Tax credits			(4.3)						(6.2)						—
Other			2.0						(0.3)						(0.3)
Effective tax rate			2.7		%				(0.4)		%				5.4		%

Reconciliation of the gross beginning and ending amounts of unrecognized tax benefits

A reconciliation of the gross beginning and ending amounts of unrecognized tax benefits for the periods is presented as follows:

			2025						2024						2023
			(Dollars in thousands)
Balance at beginning of period			$	65,115					$	125,853					$	124,959
Additions attributable to current year tax positions			3,440						2,027						—
Additions attributable to prior year tax positions			27,994						32,569						894
Reductions attributable to prior year tax positions			—						(85,513)						—
Reductions attributable to statute expiration			—						(9,821)						—
Balance at end of period			$	96,549					$	65,115					$	125,853

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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