XML 59 R29.htm IDEA: XBRL DOCUMENT v3.25.2
Derivative Financial Instruments and Hedging Activities (Tables)
9 Months Ended
May 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Reconciliation of gross and net fair values of assets and liabilities subject to offsetting arrangements
May 31, 2025
Amounts Not Offset on Condensed Consolidated Balance Sheet but Eligible for Offsetting
Gross Amount RecognizedCash CollateralDerivative InstrumentsNet Amount
Derivative assets(Dollars in thousands)
Commodity derivatives$123,756 $— $4,774 $118,982 
Foreign exchange derivatives35,355 — 6,956 28,399 
Total$159,111 $— $11,730 $147,381 
Derivative liabilities
Commodity derivatives$164,410 $482 $4,774 $159,154 
Foreign exchange derivatives7,627 — 6,956 671 
Total$172,037 $482 $11,730 $159,825 
August 31, 2024
Amounts Not Offset on Condensed Consolidated Balance Sheet but Eligible for Offsetting
Gross Amount RecognizedCash CollateralDerivative InstrumentsNet Amount
Derivative assets(Dollars in thousands)
Commodity derivatives$165,709 $— $2,522 $163,187 
Foreign exchange derivatives9,029 — 7,100 1,929 
Total$174,738 $— $9,622 $165,116 
Derivative liabilities
Commodity derivatives$221,803 $1,601 $2,522 $217,680 
Foreign exchange derivatives24,476 — 7,100 17,376 
Total$246,279 $1,601 $9,622 $235,056 
Derivatives Not Designated as Hedging Instruments The following table sets forth the pretax gains (losses) on derivatives not accounted for as hedging instruments that have been included in our Condensed Consolidated Statements of Operations for the three and nine months ended May 31, 2025 and 2024:
Three Months Ended May 31,Nine Months Ended May 31,
Location of Gain (Loss)2025202420252024
(Dollars in thousands)
Commodity derivativesCost of goods sold$(32,997)$35,591 $16,547 $74,478 
Foreign exchange derivativesCost of goods sold33,703 (19,803)37,713 (25,411)
Foreign exchange derivativesMarketing, general and administrative expenses2,927 (1,555)2,859 (1,584)
Total$3,633 $14,233 $57,119 $47,483 
Schedule of Derivative Instruments, Purchase and Sales Contracts all outstanding commodity contracts:
 May 31, 2025August 31, 2024
LongShortLongShort
 (Units in thousands)
Grain and oilseed (bushels)411,548 688,875 385,426517,883
Energy products (barrels)9,790 6,387 8,4385,014
Processed grain and oilseed (tons)682 2,604 3,6006,193
Crop nutrients (tons)16 74 7314
Natural gas (metric million Btu)— — 2,350500
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The following table presents the fair value of our commodity derivative instruments designated as cash flow hedges and the locations on our Condensed Consolidated Balance Sheets in which they are recorded:
Derivative AssetsDerivative Liabilities
Balance Sheet LocationMay 31,
2025
August 31,
2024
Balance Sheet LocationMay 31,
2025
August 31,
2024
(Dollars in thousands)(Dollars in thousands)
Other current assets$8,152 $5,226 Other current liabilities$4,719 $2,781 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) The following table presents the pretax gains relating to our existing cash flow hedges that were reclassified from accumulated other comprehensive loss into our Condensed Consolidated Statements of Operations for the three and nine months ended May 31, 2025 and 2024:
Three Months Ended May 31,Nine Months Ended May 31,
Location of Gain2025202420252024
  (Dollars in thousands)
Commodity derivativesCost of goods sold$2,485 $3,403 $10,582 $14,070 
Cash flow hedge gain (loss) recorded in other comprehensive income The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the three and nine months ended May 31, 2025 and 2024:
Three Months Ended May 31,Nine Months Ended May 31,
2025202420252024
 (Dollars in thousands)
Commodity derivatives$(841)$(674)$988 $948