XML 48 R19.htm IDEA: XBRL DOCUMENT
v3.25.1

Business Combinations, Asset Acquisitions, and Joint Venture Formation | 6 Months Ended
--- | ---
Feb. 28, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Business Combination Disclosure | Note 15 Acquisition On January 2, 2025, we completed our acquisition of West Central Ag Services ("WCAS"), a cooperative based in Ulen, Minnesota, that offers grain and agronomy services at locations in west-central Minnesota. The cash purchase price is estimated to be $321.6 million, which includes $107.3 million estimated for working capital that will be finalized later in the fiscal year. Prior to completing this acquisition, we also held a 50% ownership interest in Central Plains Ag Services ("CPAS"), a joint venture between CHS and WCAS that operates in eastern North Dakota and is now a wholly owned subsidiary of CHS. By acquiring WCAS and the remaining 50% ownership of CPAS, we were able to expand our grain and agronomy platforms in west-central Minnesota and eastern North Dakota, as well as add value for our owners. The acquisition-date fair value of the previous equity interest in CPAS was $18.8 million and is included in the measurement of consideration transferred. Preliminary allocation of the estimated purchase price for this transaction includes $60.5 million for goodwill, which is nondeductible for tax purposes, and $46.5 million for definite-lived intangible assets. As this acquisition is not considered to have a material impact on our financial statements, pro forma results of operations are not presented. The acquisition resulted in fair value measurements that are not on a recurring basis and did not have a material impact on our consolidated results of operations. Purchase accounting has not been finalized and preliminary fair values assigned to the net assets acquired are as follows:
| (Dollars in thousands)
Cash | $ | 85,105 |
Other current assets | 351,184 |
Property, plant and equipment | 138,976 |
Goodwill | 60,538 |
Other intangible assets | 46,500 |
Other noncurrent assets | 7,934 |
Current liabilities | (314,802) |
Noncurrent liabilities | (34,971) |
Total net assets acquired | $ | 340,464 |
Operating results for WCAS are included in our Consolidated Statements of Operations from the day of the acquisition on January 2, 2025, through February 28, 2025, including revenues and loss before income taxes of $23.3 million and $2.8 million, respectively.

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

X
- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
Name: | us-gaap_BusinessCombinationDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration