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Notes Payable and Long-Term Debt | 9 Months Ended
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May 31, 2026
Debt Disclosure [Abstract] |
Notes Payable and Long-Term Debt | Notes Payable and Long-Term Debt Our notes payable and long-term debt are subject to various restrictive requirements for maintenance of minimum consolidated net worth and other financial ratios. We were in compliance with all debt covenants as of May 31, 2026. Notes payable as of May 31, 2026, and August 31, 2025, consisted of the following:
| May 31, 2026 |  | August 31, 2025
| (Dollars in thousands)
Notes payable | $ | 638,910 |  |  | $ | 584,226 |
CHS Capital notes payable | 950,846 |  |  | 568,231 |
Total notes payable | $ | 1,589,756 |  |  | $ | 1,152,457 |
Our primary line of credit is a five-year unsecured revolving credit facility with a syndicate of domestic and international banks. The credit facility provides a committed amount of $2.8 billion that expires on April 21, 2028. There were $190.0 million and $180.0 million in borrowings outstanding on this facility as of May 31, 2026, and August 31, 2025. We also maintain certain uncommitted bilateral facilities to support our working capital needs. We have a receivables and loans securitization facility ("Securitization Facility") with certain unaffiliated financial institutions ("Purchasers"). Under the Securitization Facility, we and certain of our subsidiaries ("Originators") sell trade accounts and notes receivable ("Receivables") to Cofina Funding, LLC ("Cofina"), a wholly-owned, bankruptcy-remote, indirect subsidiary of CHS. Cofina in turn transfers the Receivables to the Purchasers, and this arrangement is accounted for as secured financing. We use the proceeds from the sale of Receivables under the Securitization Facility for general corporate purposes, and settlements are made on a monthly basis. The amount available under the Securitization Facility fluctuates over time based on the total amount of eligible Receivables generated during the normal course of business. The Securitization Facility consists of a committed portion with a maximum availability of $850.0 million and an uncommitted portion with a maximum availability of $250.0 million. As of May 31, 2026, total availability under the Securitization Facility was $1.1 billion, of which $650.0 million was utilized. As of August 31, 2025, total availability under the Securitization Facility was $802.6 million, of which $296.0 million was utilized. We also have a repurchase facility ("Repurchase Facility"). Under the Repurchase Facility, we can obtain repurchase agreement financing up to $250.0 million for certain eligible receivables and notes receivable of the Originators. As of May 31, 2026, we fully utilized the amount available to us under the Repurchase Facility totaling $250.0 million. As of August 31, 2025, $159.7 million was utilized. During the nine months ended May 31, 2026, we drew $300.0 million on our revolving term loan facility (the "Facility") for long-term capital planning purposes and utilized the proceeds to reduce short-term amounts outstanding. Our intent is to allow the balance outstanding to revert to a nonrevolving term loan that is payable on October 29, 2029. As of May 31, 2026, and August 31, 2025, there were $300.0 million and no amounts outstanding under this Facility, respectively. The following table presents summarized long-term debt (including the current portion) as of May 31, 2026, and August 31, 2025.
| May 31, 2026 |  | August 31, 2025
| (Dollars in thousands)
Private placement debt | $ | 1,783,000 |  |  | $ | 1,783,000 |
Term loan | 300,000 |  |  | — |
Finance lease liabilities | 52,474 |  |  | 55,198 |
Deferred financing costs | (3,589) |  |  | (3,894) |
Other | 1,697 |  |  | 1,529 |
Total long-term debt | 2,133,582 |  |  | 1,835,833 |
Less current portion | 149,663 |  |  | 90,447 |
Long-term portion | $ | 1,983,919 |  |  | $ | 1,745,386 |
Interest expense for the three months ended May 31, 2026 and 2025, was $49.7 million and $44.1 million, respectively, net of capitalized interest of $4.6 million and $8.2 million, respectively. Interest expense for the nine months ended May 31, 2026 and 2025, was $130.8 million and $97.0 million, respectively, net of capitalized interest of $19.0 million and $22.8 million, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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