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Equities
6 Months Ended
Feb. 28, 2025
Equity [Abstract]  
Equities
Changes in Equities

Changes in equities for the three months ended February 28, 2025, and February 29, 2024, are as follows:
 Equity Certificates Accumulated
Other
Comprehensive
Loss
   
Capital
Equity
Certificates
Nonpatronage
Equity
Certificates
Nonqualified Equity CertificatesPreferred
Stock
Capital
Reserves
Noncontrolling
Interests
Total
Equities
 (Dollars in thousands)
Balances, November 30, 2024$3,707,020 $27,105 $2,199,228 $2,264,038 $(304,802)$2,919,830 $5,969 $10,818,388 
Reversal of prior fiscal year patronage and redemption estimates(70,765)— (282,431)— — 589,196 — 236,000 
Distribution of 2024 patronage refunds75,884 — 283,766 — — (589,120)— (229,470)
Redemptions of equities
(5,007)(54)(1,435)— — — — (6,496)
Preferred stock dividends
— — — — — (42,167)— (42,167)
Other, net
(3)(16)(15)— — (6,086)(515)(6,635)
Net loss— — — — — (75,754)(249)(76,003)
Other comprehensive income, net of tax— — — — 2,450 — — 2,450 
Estimated 2025 cash patronage refunds— — — — — 36,859 — 36,859 
Estimated 2025 equity redemptions(18,798)— — — — — — (18,798)
Balances, February 28, 2025$3,688,331 $27,035 $2,199,113 $2,264,038 $(302,352)$2,832,758 $5,205 $10,714,128 
 Equity Certificates Accumulated
Other
Comprehensive
Loss
   
Capital
Equity
Certificates
Nonpatronage
Equity
Certificates
Nonqualified Equity CertificatesPreferred
Stock
Capital
Reserves
Noncontrolling
Interests
Total
Equities
 (Dollars in thousands)
Balances, November 30, 2023$3,861,170 $27,488 $1,929,868 $2,264,038 $(272,697)$2,881,596 $5,926 $10,697,389 
Reversal of prior fiscal year patronage and redemption estimates(700,904)— (169,159)— — 1,175,367 — 305,304 
Distribution of 2023 patronage refunds707,394 — 169,051 — — (1,177,195)— (300,750)
Redemptions of equities
(3,858)(28)(1,336)— — — — (5,222)
Preferred stock dividends
— — — — — (42,167)— (42,167)
Other, net
(56)— (28)— — 302 (172)46 
Net income— — — — — 170,307 26 170,333 
Other comprehensive income, net of tax— — — — 5,428 — — 5,428 
Estimated 2024 cash patronage refunds— — — — — (31,399)— (31,399)
Estimated 2024 equity redemptions(31,399)— — — — — — (31,399)
Balances, February 29, 2024$3,832,347 $27,460 $1,928,396 $2,264,038 $(267,269)$2,976,811 $5,780 $10,767,563 
Changes in equities for the six months ended February 28, 2025, and February 29, 2024, are as follows:
 Equity Certificates Accumulated
Other
Comprehensive
Loss
   
Capital
Equity
Certificates
Nonpatronage
Equity
Certificates
Nonqualified Equity CertificatesPreferred
Stock
Capital
Reserves
Noncontrolling
Interests
Total
Equities
 (Dollars in thousands)
Balances, August 31, 2024$3,753,343 $27,261 $2,201,765 $2,264,038 $(296,542)$2,805,526 $6,533 $10,761,924 
Reversal of prior fiscal year patronage and redemption estimates(60,934)— (282,431)— — 589,196 — 245,831 
Distribution of 2024 patronage refunds75,884 — 283,766 — — (589,120)— (229,470)
Redemptions of equities
(12,145)(210)(3,972)— — — — (16,327)
Preferred stock dividends
— — — — — (126,501)— (126,501)
Other, net
(8)(16)(15)— — (3,227)(1,882)(5,148)
Net income— — — — — 169,036 554 169,590 
Other comprehensive loss, net of tax— — — — (5,810)— — (5,810)
Estimated 2025 cash patronage refunds— — — — — (12,152)— (12,152)
Estimated 2025 equity redemptions(67,809)— — — — — — (67,809)
Balances, February 28, 20253,688,331 $27,035 $2,199,113 $2,264,038 $(302,352)$2,832,758 $5,205 $10,714,128 
 Equity Certificates Accumulated
Other
Comprehensive
Loss
   
Capital
Equity
Certificates
Nonpatronage
Equity
Certificates
Nonqualified Equity CertificatesPreferred
Stock
Capital
Reserves
Noncontrolling
Interests
Total
Equities
 (Dollars in thousands)
Balances, August 31, 2023$3,951,385 $27,558 $1,932,706 $2,264,038 $(265,395)$2,537,486 $4,611 $10,452,389 
Reversal of prior fiscal year patronage and redemption estimates(689,668)— (169,159)— — 1,175,367 — 316,540 
Distribution of 2023 patronage refunds707,394 — 169,051 — — (1,177,195)— (300,750)
Redemptions of equities
(12,145)(95)(4,218)— — — — (16,458)
Preferred stock dividends
— — — — — (126,501)— (126,501)
Other, net
(22)(3)16 — — (979)698 (290)
Net income— — — — — 693,230 471 693,701 
Other comprehensive loss, net of tax— — — — (1,874)— — (1,874)
Estimated 2024 cash patronage refunds— — — — — (124,597)— (124,597)
Estimated 2024 equity redemptions(124,597)— — — — — — (124,597)
Balances, February 29, 2024$3,832,347 $27,460 $1,928,396 $2,264,038 $(267,269)$2,976,811 $5,780 $10,767,563 

Preferred Stock Dividends

    The following table presents a summary of dividends declared per share by series of preferred stock for the three and six months ended February 28, 2025, and February 29, 2024.
Three Months EndedSix Months Ended
Nasdaq symbolFebruary 28, 2025February 29, 2024February 28, 2025February 29, 2024
Series of preferred stock:(Dollars per share)
8% Cumulative RedeemableCHSCP$0.50 $0.50 $1.50 $1.50 
Class B Cumulative Redeemable, Series 1CHSCO$0.49 $0.49 $1.48 $1.48 
Class B Reset Rate Cumulative Redeemable, Series 2CHSCN$0.44 $0.44 $1.33 $1.33 
Class B Reset Rate Cumulative Redeemable, Series 3CHSCM$0.42 $0.42 $1.27 $1.27 
Class B Cumulative Redeemable, Series 4CHSCL$0.47 $0.47 $1.41 $1.41 
Accumulated Other Comprehensive Income (Loss)    

Changes in accumulated other comprehensive income (loss) by component for the three months ended February 28, 2025, and February 29, 2024, are as follows:
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of November 30, 2024, net of tax$(193,855)$3,258 $(114,205)$(304,802)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 3,619 (504)3,115 
Amounts reclassified3,260 (3,277)— (17)
Total other comprehensive income (loss), before tax3,260 342 (504)3,098 
Tax effect(799)(84)235 (648)
Other comprehensive income (loss), net of tax2,461 258 (269)2,450 
Balance as of February 28, 2025, net of tax$(191,394)$3,516 $(114,474)$(302,352)
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of November 30, 2023, net of tax$(173,908)$(2,129)$(96,660)$(272,697)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 10,641 (752)9,889 
Amounts reclassified67 (2,294)— (2,227)
Total other comprehensive income (loss), before tax67 8,347 (752)7,662 
Tax effect(16)(2,044)(174)(2,234)
Other comprehensive income (loss), net of tax51 6,303 (926)5,428 
Balance as of February 29, 2024, net of tax$(173,857)$4,174 $(97,586)$(267,269)

Changes in accumulated other comprehensive income (loss) by component for the six months ended February 28, 2025, and February 29, 2024, are as follows:
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of August 31, 2024, net of tax$(195,973)$1,777 $(102,346)$(296,542)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 9,819 (12,417)(2,598)
Amounts reclassified6,065 (7,515)— (1,450)
Total other comprehensive income (loss), before tax6,065 2,304 (12,417)(4,048)
Tax effect(1,486)(565)289 (1,762)
Other comprehensive income (loss), net of tax4,579 1,739 (12,128)(5,810)
Balance as of February 28, 2025, net of tax$(191,394)$3,516 $(114,474)$(302,352)
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of August 31, 2023, net of tax$(173,925)$2,032 $(93,502)$(265,395)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 12,921 (4,102)8,819 
Amounts reclassified90 (10,084)— (9,994)
Total other comprehensive income (loss), before tax90 2,837 (4,102)(1,175)
Tax effect(22)(695)18 (699)
Other comprehensive income (loss), net of tax68 2,142 (4,084)(1,874)
Balance as of February 29, 2024, net of tax$(173,857)$4,174 $(97,586)$(267,269)

    Amounts reclassified from accumulated other comprehensive income (loss) were related to pension and other postretirement benefits, cash flow hedges and foreign currency translation adjustments. Pension and other postretirement reclassifications include amortization of net actuarial loss, prior service credit and transition amounts and are recorded as cost of goods sold and marketing, general and administrative expenses (see Note 9, Benefit Plans, for further information). As described in Note 11, Derivative Financial Instruments and Hedging Activities, amounts reclassified from accumulated other comprehensive loss for cash flow hedges are recorded in cost of goods sold. Gains or losses on foreign currency translation reclassifications are recorded in other income.