CHS (CHSCN) 10-Q 6 Jan 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Nov. 30, 2020	Jan. 06, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 2020
Document Transition Report	false
Entity File Number	001-36079
Entity Registrant Name	CHS Inc.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0251095
Entity Address, Address Line One	5500 Cenex Drive
Entity Address, City or Town	Inver Grove Heights,
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55077
City Area Code	(651)
Local Phone Number	355-6000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0
Entity Central Index Key	0000823277
Current Fiscal Year End Date	--08-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
8% Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	8% Cumulative Redeemable Preferred Stock
Trading Symbol	CHSCP
Security Exchange Name	NASDAQ
Class B, Series 1 Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class B Cumulative Redeemable Preferred Stock, Series 1
Trading Symbol	CHSCO
Security Exchange Name	NASDAQ
Class B, Series 2 Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 2
Trading Symbol	CHSCN
Security Exchange Name	NASDAQ
Class B, Series 3 Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class B Reset Rate Cumulative Redeemable Preferred Stock, Series 3
Trading Symbol	CHSCM
Security Exchange Name	NASDAQ
Class B, Series 4 Preferred Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class B Cumulative Redeemable Preferred Stock, Series 4
Trading Symbol	CHSCL
Security Exchange Name	NASDAQ

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Current assets [Abstract]
Cash and cash equivalents	$ 143,497	$ 140,874
Receivables	2,804,306	2,366,047
Inventories	3,717,833	2,742,138
Other current assets	1,678,327	1,017,488
Total current assets	8,343,963	6,266,547
Investments	3,666,474	3,630,033
Property, plant and equipment	4,903,212	4,957,938
Other assets	1,117,301	1,139,429
Total assets	18,030,950	15,993,947
Current liabilities [Abstract]
Notes payable	2,039,083	1,575,491
Current portion of long-term debt	168,376	189,287
Accounts payable	2,594,543	1,724,516
Accrued expenses	391,739	501,904
Other current liabilities	1,411,872	928,843
Total current liabilities	6,605,613	4,920,041
Long-term debt	1,973,360	1,601,836
Other liabilities	666,121	652,897
Commitments and contingencies (Note 13)
Equities:
Preferred stock	2,264,038	2,264,038
Equity certificates	5,151,408	5,161,610
Accumulated other comprehensive loss	(225,007)	(233,924)
Capital reserves	1,586,382	1,618,147
Total CHS Inc. equities	8,776,821	8,809,871
Noncontrolling interests	9,035	9,302
Total equities	8,785,856	8,819,173
Total liabilities and equities	$ 18,030,950	$ 15,993,947

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Income Statement [Abstract]
Revenues	$ 8,715,643	$ 7,621,485
Cost of goods sold	8,537,539	7,295,942
Gross profit	178,104	325,543
Marketing, general and administrative expenses	170,661	168,331
Operating earnings	7,443	157,212
Interest Expense	25,050	34,971
Other income	(12,624)	(13,498)
Equity income from investments	(50,023)	(49,662)
Income before income taxes	45,040	185,401
Income tax (benefit) expense	(24,329)	6,664
Net income	69,369	178,737
Net (loss) income attributable to noncontrolling interests	(302)	855
Net income attributable to CHS Inc.	$ 69,671	$ 177,882

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Net income (loss)	$ 69,369	$ 178,737
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]
Postretirement benefit plan activity, net of tax expense (benefit)	3,645	5,073
Cash flow hedges, net of tax expense (benefit)	1,669	(5,872)
Foreign currency translation adjustment, net of tax expense (benefit)	3,603	(839)
Other comprehensive income (loss), net of tax	8,917	(1,638)
Comprehensive income (loss)	78,286	177,099
Less comprehensive income attributable to noncontrolling interests	(302)	855
Comprehensive Income (Loss) Attributable to CHS	$ 78,588	$ 176,244

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ 69,369	$ 178,737
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	134,692	136,643
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions	(40,842)	(30,468)
Provision for doubtful accounts	1,564	1,775
Deferred taxes	477	(3,579)
Other, net	(5,263)	8,341
Changes in operating assets and liabilities, net of acquisitions:
Receivables	(430,234)	108,495
Inventories	(967,637)	(514,580)
Accounts payable and accrued expenses	773,776	386,021
Other liabilities	(209,355)	(110,684)
Net cash provided by (used in) operating activities	(673,453)	160,701
Cash flows from investing activities:
Acquisition of property, plant and equipment	(85,680)	(131,808)
Proceeds from disposition of property, plant and equipment	3,350	3,015
Expenditures for major repairs	(6,313)	(7,691)
Proceeds from Sales of Business, Affiliate and Productive Assets	42,585
Changes in CHS Capital notes receivable, net	(79,045)	15,195
Financing extended to customers	(617)	(915)
Payments from customer financing	3,875	4,209
Other investing activities, net	7,534	3,046
Net cash provided by (used in) investing activities	(114,311)	(114,949)
Cash flows from financing activities:
Proceeds from lines of credit and long-term borrowings	6,620,876	5,414,395
Payments on lines of credit, long-term borrowings and capital lease obligations	(5,752,925)	(5,445,420)
Preferred stock dividends paid	(42,167)	(42,167)
Redemptions of equities	(7,726)	(5,447)
Other financing activities, net	(9,167)	6,757
Net cash provided by (used in) financing activities	808,891	(71,882)
Effect of exchange rate changes on cash and cash equivalents	2,324	(1,153)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	23,451	(27,283)
Cash and cash equivalents and restricted cash at beginning of period	216,993	299,675
Cash and cash equivalents and restricted cash at end of period	$ 240,444	$ 272,392

Organization, Basis of Presenta

Organization, Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Nov. 30, 2020
Accounting Policies [Abstract]
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation These unaudited condensed consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary for a fair statement of our financial position, results of operations and cash flows for the periods presented. The results of operations and cash flows for interim periods are not necessarily indicative of results for a full fiscal year because of the seasonal nature of our businesses, among other things. Our unaudited condensed consolidated financial statements and notes are presented as permitted by the requirements for Quarterly Reports on Form 10-Q and should be read in conjunction with the consolidated financial statements and notes thereto for the year ended August 31, 2020, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission ("SEC"). Significant Accounting Policies The following significant accounting policy was updated or changed since our Annual Report on Form 10-K for the year ended August 31, 2020. Receivables As described in the "Recent Accounting Pronouncements" section, we adopted Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses ("ASC Topic 326"): Measurement of Credit Losses on Financial Instruments , on September 1, 2020, using the modified retrospective approach. Our accounting policies with respect to ASC Topic 326 are included in Note 3, Receivables . Recent Accounting Pronouncements Except for the recent accounting pronouncement described below, other recent accounting pronouncements are not expected to have a material impact on our condensed consolidated financial statements. Adopted In June 2016, the Financial Accounting Standards Board issued ASC Topic 326. The amendments in this ASU introduce a new approach, based on expected losses, to estimate credit losses on certain types of financial instruments. This ASU is intended to provide financial statement users with more decision-useful information about the expected credit losses associated with most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt securities, net investments in leases and off-balance sheet credit exposures. Entities are required to apply the provisions of this ASU as a cumulative-effect adjustment to the opening balance of capital reserves as of the beginning of the first reporting period in which the guidance is adopted. As part of our adoption efforts, we performed various data-gathering activities, developed a credit losses model, performed data analyses and made accounting policy election determinations. The impact of adoption did not have a material impact on our condensed consolidated financial statements. Not Yet Adopted

Revenues (Notes)

Revenues (Notes)	3 Months Ended
	Nov. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table presents revenues recognized under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), disaggregated by reportable segment, as well as the amount of revenues recognized under ASC Topic 815, Derivatives and Hedging ("ASC Topic 815"), and other applicable accounting guidance for the three months ended November 30, 2020 and 2019. Other applicable accounting guidance primarily includes revenues recognized under ASC Topic 842, Leases , and ASC Topic 470, Debt , that fall outside the scope of ASC Topic 606. ASC Topic 606 ASC Topic 815 Other Guidance Total Revenues Three Months Ended November 30, 2020 (Dollars in thousands) Energy $ 1,064,963 $ 192,884 $ — $ 1,257,847 Ag 1,344,508 6,087,241 13,653 7,445,402 Corporate and Other 6,460 — 5,934 12,394 Total revenues $ 2,415,931 $ 6,280,125 $ 19,587 $ 8,715,643 Three Months Ended November 30, 2019 Energy $ 1,693,848 $ 201,575 $ — $ 1,895,423 Ag 1,358,626 4,316,087 37,142 5,711,855 Corporate and Other 5,541 — 8,666 14,207 Total revenues $ 3,058,015 $ 4,517,662 $ 45,808 $ 7,621,485 Less than 1% of revenues accounted for under ASC Topic 606 included within the table above are recorded over time; these revenues are primarily related to service contracts. Contract Assets and Contract Liabilities Contract assets relate to unbilled amounts arising from goods that have already been transferred to the customer where the right to payment is not conditional on the passage of time. This results in recognition of an asset, as the amount of revenue recognized at a certain point in time exceeds the amount billed to the customer. Contract assets are recorded in receivables within our Condensed Consolidated Balance Sheets and were not material as of November 30, 2020, or August 31, 2020. Contract liabilities relate to advance payments from customers for goods and services that we have yet to provide. Contract liabilities of $183.9 million and $139.1 million as of November 30, 2020, and August 31, 2020, respectively, are recorded within other current liabilities on our Condensed Consolidated Balance Sheets. For the three months ended November 30, 2020 and 2019, we recognized revenues of $60.7 million and $92.0 million, respectively, which were included in the other current liabilities balance at the beginning of the respective periods.

Receivables

Receivables	3 Months Ended
	Nov. 30, 2020
Receivables [Abstract]
Receivables	Receivables November 30, August 31, (Dollars in thousands) Trade accounts receivable $ 1,897,540 $ 1,476,585 CHS Capital short-term notes receivable 586,037 563,934 Other 474,510 491,068 Gross receivables 2,958,087 2,531,587 Less: allowances and reserves 153,781 165,540 Total receivables $ 2,804,306 $ 2,366,047 Receivables are composed of trade accounts receivable, short-term notes receivable in our wholly-owned subsidiary, CHS Capital, LLC ("CHS Capital"), and other receivables, less an allowance for expected credit losses. The allowance for expected credit losses is based on our best estimate of expected credit losses in existing accounts receivable balances and is determined using historical write-off experience, adjusted for various industry and regional data and current expectations of future credit losses. Notes receivable from commercial borrowers are collateralized by various combinations of mortgages, personal property, accounts and notes receivable, inventories and assignments of capital stock from certain regional cooperatives. These loans are originated in various states, primarily in the Upper Midwest region of the United States, the most significant of which include North Dakota and Minnesota. CHS Capital also has loans receivable from producer borrowers that are collateralized by various combinations of growing crops, livestock, inventories, accounts receivable, personal property and supplemental mortgages and are originated primarily in the same states as the commercial notes. In addition to the short-term balances included in the table above, CHS Capital had long-term notes receivable with durations of generally not more than 10 years, totaling $106.4 million and $101.5 million as of November 30, 2020, and August 31, 2020, respectively. Long-term notes receivable are included in other assets on our Condensed Consolidated Balance Sheets. As of November 30, 2020, and August 31, 2020, the commercial notes represented 47% and 33%, respectively, and the producer notes represented 53% and 67%, respectively, of total CHS Capital notes receivable. CHS Capital has commitments to extend credit to customers if there are no violations of contractually established conditions. As of November 30, 2020, CHS Capital customers had additional available credit of $595.3 million. No significant troubled debt restructuring activity occurred and no third-party customer or borrower accounted for more than 10% of the total receivables balance as of November 30, 2020, or August 31, 2020.

Inventories

Inventories	3 Months Ended
	Nov. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories November 30, August 31, (Dollars in thousands) Grain and oilseed $ 1,975,810 $ 1,064,079 Energy 715,199 696,858 Agronomy 851,127 822,535 Processed grain and oilseed 130,511 126,022 Other 45,186 32,644 Total inventories $ 3,717,833 $ 2,742,138

Investments

Investments	3 Months Ended
	Nov. 30, 2020
Investments [Abstract]
Investments	Investments November 30, August 31, (Dollars in thousands) Equity method investments: CF Industries Nitrogen, LLC $ 2,684,306 $ 2,662,618 Ventura Foods, LLC 388,869 381,351 Ardent Mills, LLC 211,120 208,927 Other equity method investments 258,049 253,182 Other investments 124,130 123,955 Total investments $ 3,666,474 $ 3,630,033 Joint ventures and other investments, in which we have significant ownership and influence but not control, are accounted for in our condensed consolidated financial statements using the equity method of accounting. Our significant equity method investments consist of CF Industries Nitrogen, LLC ("CF Nitrogen"), Ventura Foods, LLC ("Ventura Foods"), Ardent Mills, LLC ("Ardent Mills") and TEMCO, LLC ("TEMCO"), which are summarized below. In addition to recognition of our share of income from equity method investments, our equity method investments are evaluated for indicators of other-than-temporary impairment on an ongoing basis in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"). Other investments consist primarily of investments in cooperatives without readily determinable fair values and are generally measured at cost, unless an impairment or other observable market price change occurs, requiring an adjustment. Approximately $424.4 million of cumulative undistributed earnings from our equity method investees are included in the investments balance as of November 30, 2020. CF Nitrogen We have an approximate $2.7 billion investment in CF Nitrogen, a strategic venture with CF Industries Holdings, Inc. ("CF Industries"). The investment consists of an approximate 10% membership interest (based on product tons) in CF Nitrogen. We account for this investment using the hypothetical liquidation at book value method, recognizing our share of the earnings and losses of CF Nitrogen as equity income from investments in our Nitrogen Production segment based on our contractual claims on the entity's net assets pursuant to the liquidation provisions of the CF Nitrogen Limited Liability Company Agreement, adjusted for the semi-annual cash distributions we receive as a result of our membership interest in CF Nitrogen. The following table provides summarized unaudited financial information for our equity method investment in CF Nitrogen for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 Net sales $ 606,340 $ 649,638 Gross profit 94,068 149,573 Net earnings 81,173 140,490 Earnings attributable to CHS Inc. 21,688 34,834 Ventura Foods We have a 50% interest in Ventura Foods, a joint venture with Mitsui & Co., that produces and distributes primarily vegetable-oil-based products. We account for Ventura Foods as an equity method investment, and our share of the results of this equity method investment are included in Corporate and Other. The following table provides aggregate summarized unaudited financial information for our equity method investment in Ventura Foods for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 Net sales $ 579,074 $ 629,360 Gross profit 72,522 106,140 Net earnings 25,102 26,126 Earnings attributable to CHS Inc. 12,551 13,063 Ardent Mills and TEMCO We have a 12% interest in Ardent Mills, which is a joint venture with Cargill Incorporated ("Cargill") and Conagra Brands, Inc., and is the largest flour miller in the United States. Additionally, we have a 50% interest in TEMCO, which is a joint venture with Cargill focused on exports, primarily to Asia. We account for Ardent Mills and TEMCO as equity method investments, and our shares of the results of these equity method investments are included in Corporate and Other and Ag segment, respectively. The following table provides aggregate summarized unaudited financial information for our equity method investments in Ardent Mills and TEMCO for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 Net sales $ 2,795,940 $ 1,587,493 Gross profit 131,904 97,570 Net earnings 64,554 35,451 Earnings attributable to CHS Inc. 12,627 (402) Our investments in other equity method investees are not significant in relation to our condensed consolidated financial statements, either individually or in the aggregate.

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	3 Months Ended
	Nov. 30, 2020
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 our debt covenants as of November 30, 2020. The table below summarizes our notes payable as of November 30, 2020, and August 31, 2020. November 30, August 31, (Dollars in thousands) Notes payable $ 1,268,772 $ 763,215 CHS Capital notes payable 770,311 812,276 Total notes payable $ 2,039,083 $ 1,575,491 As of November 30, 2020, our primary line of credit was a five 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 a secured borrowing. 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. As of November 30, 2020, total availability under the Securitization Facility was $456.0 million, all of which had been utilized. We also have a repurchase facility ("Repurchase Facility") related to the Securitization Facility. Under the Repurchase Facility, we can borrow up to $150.0 million, collateralized by a subordinated note issued by Cofina in favor of the Originators and representing a portion of the outstanding balance of the Receivables sold by the Originators to Cofina under the Securitization Facility. As of November 30, 2020, and August 31, 2020, the outstanding balance under the Repurchase Facility was $150.0 million. On September 24, 2020, the Securitization Facility and Repurchase Facility were amended, increasing the maximum availability under the Securitization Facility to $600.0 million from $500.0 million and extending their respective termination dates to July 30, 2021. On August 14, 2020, we entered into a Note Purchase Agreement to borrow $375.0 million of debt in the form of notes. The notes under this Note Purchase Agreement are structured in four series with maturities ranging from 7 to 15 years and interest accruing at rates ranging from 3.24% to 3.73%, subject to certain adjustments depending on our ratio of consolidated funded debt to consolidated cash flow. The funding of these notes took place on November 2, 2020. This funding has and will be used to pay fiscal 2021 debt maturities, as well as manage liquidity.

Equities

Equities	3 Months Ended
	Nov. 30, 2020
Equity [Abstract]
Equities	Equities Changes in Equities Changes in equities for the three months ended November 30, 2020 and 2019, are as follows: Equity Certificates Accumulated Capital Nonpatronage Nonqualified Equity Certificates Preferred Capital Noncontrolling Total (Dollars in thousands) Balances, August 31, 2020 $ 3,724,187 $ 28,727 $ 1,408,696 $ 2,264,038 $ (233,924) $ 1,618,147 $ 9,302 $ 8,819,173 Reversal of prior year redemption estimates 7,726 — — — — — — 7,726 Redemptions of equities (6,539) (31) (1,156) — — — — (7,726) Preferred stock dividends — — — — — (84,334) — (84,334) Other, net (654) (47) (197) — — (7,798) 35 (8,661) Net income (loss) — — — — — 69,671 (302) 69,369 Other comprehensive income, net of tax — — — — 8,917 — — 8,917 Estimated 2021 cash patronage refunds — — — — — (9,304) — (9,304) Estimated 2021 equity redemptions (9,304) — — — — — — (9,304) Balances, November 30, 2020 $ 3,715,416 $ 28,649 $ 1,407,343 $ 2,264,038 $ (225,007) $ 1,586,382 $ 9,035 $ 8,785,856 Equity Certificates Accumulated Capital Nonpatronage Nonqualified Equity Certificates Preferred Capital Noncontrolling Total (Dollars in thousands) Balances, August 31, 2019 $ 3,753,493 $ 29,074 $ 1,206,310 $ 2,264,038 $ (226,933) $ 1,584,158 $ 7,390 $ 8,617,530 Reversal of prior year redemption estimates 5,447 — — — — — — 5,447 Redemptions of equities (4,721) (54) (672) — — — — (5,447) Preferred stock dividends — — — — — (84,334) — (84,334) ASC Topic 842 cumulative-effect adjustment — — — — — 33,707 — 33,707 Other, net (8) — (39) — — (1,312) 410 (949) Net income — — — — — 177,882 855 178,737 Other comprehensive loss, net of tax — — — — (1,638) — — (1,638) Estimated 2020 cash patronage refunds — — — — — (28,504) — (28,504) Estimated 2020 equity redemptions (91,633) — — — — — — (91,633) Balances, November 30, 2019 $ 3,662,578 $ 29,020 $ 1,205,599 $ 2,264,038 $ (228,571) $ 1,681,597 $ 8,655 $ 8,622,916 Preferred Stock Dividends The following is a summary of dividends per share by series of preferred stock for the three months ended November 30, 2020 and 2019. Due to the timing of dividend declarations during the first quarter of each fiscal year, the per share amount of dividends is comprised of two quarterly dividend declarations for each period. Three Months Ended Nasdaq symbol 2020 2019 Series of preferred stock: (Dollars per share) 8% Cumulative Redeemable CHSCP $ 1.00 $ 1.00 Class B Cumulative Redeemable, Series 1 CHSCO 0.98 0.98 Class B Reset Rate Cumulative Redeemable, Series 2 CHSCN 0.88 0.88 Class B Reset Rate Cumulative Redeemable, Series 3 CHSCM 0.84 0.84 Class B Cumulative Redeemable, Series 4 CHSCL 0.94 0.94 Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows for the three months ended November 30, 2020 and 2019: Pension and Other Postretirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustment Total (Dollars in thousands) Balance as of August 31, 2020, net of tax $ (159,680) $ 10,886 $ (85,130) $ (233,924) Other comprehensive income (loss), before tax: Amounts before reclassifications (125) 14,506 3,629 18,010 Amounts reclassified 4,977 (12,284) — (7,307) Total other comprehensive income, before tax 4,852 2,222 3,629 10,703 Tax effect (1,207) (553) (26) (1,786) Other comprehensive income, net of tax 3,645 1,669 3,603 8,917 Balance as of November 30, 2020, net of tax $ (156,035) $ 12,555 $ (81,527) $ (225,007) Pension and Other Postretirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustment Total (Dollars in thousands) Balance as of August 31, 2019, net of tax $ (172,478) $ 15,297 $ (69,752) $ (226,933) Other comprehensive income (loss), before tax: Amounts before reclassifications (85) (3,331) (2,411) (5,827) Amounts reclassified 4,977 (4,473) — 504 Total other comprehensive income (loss), before tax 4,892 (7,804) (2,411) (5,323) Tax effect 181 1,932 1,572 3,685 Other comprehensive income (loss), net of tax 5,073 (5,872) (839) (1,638) Balance as of November 30, 2019, net of tax $ (167,405) $ 9,425 $ (70,591) $ (228,571) 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, marketing, general and administrative expenses, and other income (see Note 9, Benefit Plans, for further information). Gains or losses associated with cash flow hedges are recorded as cost of goods sold (see Note 11, Derivative Financial Instruments and Hedging Activities , for further information). Gains or losses on foreign currency translation reclassifications related to sales of businesses are recorded as other income.

Benefit Plans

Benefit Plans	3 Months Ended
	Nov. 30, 2020
Retirement Benefits [Abstract]
Benefit plans	Benefit Plans We have various pension and other defined benefit and defined contribution plans, in which substantially all employees may participate. We also have nonqualified supplemental executive and Board retirement plans. Components of net periodic benefit costs for the three months ended November 30, 2020 and 2019, are as follows: Three Months Ended Qualified Nonqualified Other Benefits 2020 2019 2020 2019 2020 2019 Components of net periodic benefit costs: (Dollars in thousands) Service cost $ 11,307 $ 10,538 $ 108 $ 101 $ 297 $ 262 Interest cost 4,141 5,431 68 107 123 187 Expected return on assets (10,910) (11,671) — — — — Prior service cost (credit) amortization 45 45 (28) (28) (111) (111) Actuarial loss (gain) amortization 5,447 5,396 53 25 (341) (348) Net periodic benefit cost (benefit) $ 10,030 $ 9,739 $ 201 $ 205 $ (32) $ (10) The service cost component of defined benefit net periodic benefit cost is recorded in cost of goods sold and marketing, general and administrative expenses. The other components of net periodic benefit cost are recorded in other income. Employer Contributions Any contributions made during fiscal 2021 will depend primarily on market returns on the pension plan assets and minimum funding level requirements. No contributions were made to the pension plans during the three months ended November 30, 2020, and we do not currently anticipate being required to make contributions for our pension plans in fiscal 2021.

Income Taxes

Income Taxes	3 Months Ended
	Nov. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Our effective tax rate for the three months ended November 30, 2020, was (54.0)%, compared to 3.6% for the three months ended November 30, 2019. The decreased effective tax rate reflects tax benefits resulting from changes in the mix of full-year projected earnings, including losses in business units and equity management assumptions allowing for a patronage deduction on profitable business units, as well as an anticipated intercompany transfer of assets resulting in a tax benefit.    Our uncertain tax positions are affected by the tax years that are under audit or remain subject to examination by the relevant taxing authorities. Reserves are recorded against unrecognized tax benefits when we believe certain fully supportable tax return positions are likely to be challenged and we may not prevail. If we were to prevail on all positions taken in relation to uncertain tax positions, $114.4 million and $111.3 million of the unrecognized tax benefits would ultimately benefit our effective tax rate as of November 30, 2020, and August 31, 2020, respectively. It is reasonably possible that the total amount of unrecognized tax benefits could significantly change in the next 12 months.

Segment Reporting

Segment Reporting	3 Months Ended
	Nov. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We are an integrated agricultural enterprise, providing grain, foods and energy resources to businesses and consumers on a global basis. We provide a wide variety of products and services, from initial agricultural inputs such as fuels, farm supplies, crop nutrients and crop protection products, to agricultural outputs that include grains and oilseeds, grain and oilseed processing and food products, and the production and marketing of ethanol. We define our operating segments in accordance with ASC Topic 280, Segment Reporting , to reflect the manner in which our chief operating decision-maker, our Chief Executive Officer, evaluates performance and allocates resources in managing our businesses. We have aggregated those operating segments into three reportable segments: Energy, Ag and Nitrogen Production. Our Energy segment produces and provides primarily for the wholesale distribution of petroleum products and transportation of those products. Our Ag segment purchases and further processes or resells grains and oilseeds originated by our country operations business, by our member cooperatives and by third parties; serves as a wholesaler and retailer of crop inputs; and produces and markets ethanol. Our Nitrogen Production segment consists solely of our equity method investment in CF Nitrogen, which entitles us, pursuant to a supply agreement that we entered into with CF Nitrogen, to purchase up to a specified quantity of granular urea and urea ammonium nitrate annually from CF Nitrogen. Corporate and Other represents our financing and hedging businesses, which consists primarily of financial services related to crop production and a U.S. Commodity Futures Trading Commission-regulated futures commission merchant for commodities hedging. Our nonconsolidated investments in Ventura Foods and Ardent Mills are also included in our Corporate and Other category. Corporate administrative expenses and interest are allocated to each reportable segment and Corporate and Other, based on direct use of services, such as information technology and legal, and other factors or considerations relevant to the costs incurred. Many of our business activities are highly seasonal and operating results vary throughout the year. For example, in our Ag segment, our country operations business generally experiences higher volumes and income during the spring planting season and the fall harvest season, and our agronomy business generally experiences higher volumes and income during the spring planting season. Our global grain marketing operations are subject to fluctuations in volume and earnings based on producer harvests, world grain prices and demand. Our Energy segment generally experiences higher volumes and profitability in certain operating areas, such as refined products, in the summer and early fall when gasoline and diesel fuel usage is highest and is subject to global supply and demand forces. Other energy products, such as propane, may experience higher volumes and profitability during the winter heating and crop-drying seasons. Our revenues, assets and cash flows can be significantly affected by global market prices for commodities such as petroleum products, natural gas, grains, oilseeds, crop nutrients and flour. Changes in market prices for commodities that we purchase without a corresponding change in the selling prices of those products can affect revenues and operating earnings. Commodity prices are affected by a wide range of factors beyond our control, including weather, crop damage due to plant disease or insects, drought, availability and adequacy of supply, availability of a reliable rail and river transportation network, outbreaks of disease, government regulations and policies, global trade disputes, and general political and economic conditions. While our revenues and operating results are derived primarily from businesses and operations that are wholly-owned or subsidiaries and limited liability companies in which we have a controlling interest, a portion of our business operations are conducted through companies in which we hold ownership interests of 50% or less or do not control the operations. We account for these investments primarily using the equity method of accounting, wherein we record our proportionate share of income or loss reported by the entity as equity income from investments, without consolidation of the revenues and expenses of the entity in our Condensed Consolidated Statements of Operations. In our Nitrogen Production segment, this consists of our approximate 10% membership interest (based on product tons) in CF Nitrogen. In Corporate and Other, this principally includes our 50% ownership in Ventura Foods and our 12% ownership in Ardent Mills. See Note 5, Investments, for more information on these entities. Reconciling amounts primarily represent the elimination of revenues between segments. Such transactions are executed at market prices to more accurately evaluate the profitability of individual business segments. Segment information for the three months ended November 30, 2020 and 2019, is presented in the tables below. Energy Ag Nitrogen Production Corporate Reconciling Total Three Months Ended November 30, 2020 (Dollars in thousands) Revenues, including intersegment revenues $ 1,357,845 $ 7,450,305 $ — $ 15,481 $ (107,988) $ 8,715,643 Intersegment revenues (99,998) (4,903) — (3,087) 107,988 — Revenues, net of intersegment revenues $ 1,257,847 $ 7,445,402 $ — $ 12,394 $ — $ 8,715,643 Operating earnings (loss) (68,385) 75,524 (7,623) 7,927 — 7,443 Interest expense (238) 14,505 11,163 1,138 (1,518) 25,050 Other income (482) (11,817) (1,566) (277) 1,518 (12,624) Equity income from investments (489) (10,174) (21,688) (17,672) — (50,023) Income (loss) before income taxes $ (67,176) $ 83,010 $ 4,468 $ 24,738 $ — $ 45,040 Total assets as of November 30, 2020 $ 4,318,529 $ 8,299,580 $ 2,699,869 $ 2,712,972 $ — $ 18,030,950 Energy Ag Nitrogen Production Corporate Reconciling Total Three Months Ended November 30, 2019 (Dollars in thousands) Revenues, including intersegment revenues $ 2,027,895 $ 5,715,994 $ — $ 15,950 $ (138,354) $ 7,621,485 Intersegment revenues (132,472) (4,139) — (1,743) 138,354 — Revenues, net of intersegment revenues $ 1,895,423 $ 5,711,855 $ — $ 14,207 $ — $ 7,621,485 Operating earnings (loss) 161,199 (417) (7,823) 4,253 — 157,212 Interest expense 374 20,741 12,130 3,838 (2,112) 34,971 Other income (964) (11,453) (1,569) (1,624) 2,112 (13,498) Equity income from investments (364) 4,157 (34,834) (18,621) — (49,662) Income before income taxes $ 162,153 $ (13,862) $ 16,450 $ 20,660 $ — $ 185,401

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	3 Months Ended
	Nov. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities Disclosure	Derivative Financial Instruments and Hedging Activities We enter into various derivative instruments to manage our exposure to movements primarily associated with agricultural and energy commodity prices and, to a lesser degree, foreign currency exchange rates and interest rates. Except for certain interest rate swaps and certain pay-fixed, receive-variable, cash-settled swaps related to future crude oil purchases, which are accounted for as fair value hedges and cash flow hedges, respectively, our derivative instruments represent economic hedges of price risk for which hedge accounting under ASC Topic 815 is not applied. Rather, the derivative instruments are recorded on our Condensed Consolidated Balance Sheets at fair value with changes in fair value being recorded directly to earnings, primarily within cost of goods sold in our Condensed Consolidated Statements of Operations. See Note 12, Fair Value Measurements, for additional information. The majority of our exchange traded agricultural commodity futures are settled daily through CHS Hedging, our wholly-owned futures commission merchant. The following tables present the gross fair values of derivative assets, derivative liabilities and margin deposits (cash collateral) recorded on our Condensed Consolidated Balance Sheets, along with related amounts permitted to be offset in accordance with U.S. GAAP. Although we have certain netting arrangements for our exchange-traded futures and options contracts and certain over-the-counter ("OTC") contracts, we have elected to report our derivative instruments on a gross basis on our Consolidated Balance Sheets under ASC Topic 210-20, Balance Sheet - Offsetting . November 30, 2020 Amounts Not Offset on Condensed Consolidated Balance Sheet but Eligible for Offsetting Gross Amount Recognized Cash Collateral Derivative Instruments Net Amount (Dollars in thousands) Derivative Assets Commodity derivatives $ 642,455 $ — $ 2,036 $ 640,419 Foreign exchange derivatives 16,684 — 7,629 9,055 Embedded derivative asset 15,563 — — 15,563 Total $ 674,702 $ — $ 9,665 $ 665,037 Derivative Liabilities Commodity derivatives $ 519,909 $ 1,447 $ 9,890 $ 508,572 Foreign exchange derivatives 44,455 — 7,629 36,826 Total $ 564,364 $ 1,447 $ 17,519 $ 545,398 August 31, 2020 Amounts Not Offset on Condensed Consolidated Balance Sheet but Eligible for Offsetting Gross Amount Recognized Cash Collateral Derivative Instruments Net Amount (Dollars in thousands) Derivative Assets Commodity derivatives $ 327,493 $ — $ 2,980 $ 324,513 Foreign exchange derivatives 11,809 — 9,385 2,424 Embedded derivative asset 18,998 — — 18,998 Total $ 358,300 $ — $ 12,365 $ 345,935 Derivative Liabilities Commodity derivatives $ 343,343 $ 956 $ 5,578 $ 336,809 Foreign exchange derivatives 69,466 — 9,385 60,081 Total $ 412,809 $ 956 $ 14,963 $ 396,890 Derivative assets and liabilities with maturities of 12 months or less are recorded in other current assets and other current liabilities, respectively, on our Condensed Consolidated Balance Sheets. Derivative assets and liabilities with maturities greater than 12 months are recorded in other assets and other liabilities, respectively, on our Condensed Consolidated Balance Sheets. The amount of long-term derivative assets, excluding derivatives designated as cash flow or fair value hedges, recorded on our Condensed Consolidated Balance Sheets as of November 30, 2020, and August 31, 2020, was $17.1 million and $21.2 million, respectively. The amount of long-term derivative liabilities, excluding derivatives designated as cash flow or fair value hedges, recorded on our Condensed Consolidated Balance Sheets as of November 30, 2020, and August 31, 2020, was $3.9 million and $5.4 million, respectively. Derivatives Not Designated as Hedging Instruments The majority of our derivative instruments have not been 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 months ended November 30, 2020 and 2019. Three Months Ended Location of Gain (Loss) 2020 2019 (Dollars in thousands) Commodity derivatives Cost of goods sold $ (201,362) $ 42,674 Foreign exchange derivatives Cost of goods sold 22,641 (10,161) Foreign exchange derivatives Marketing, general and administrative expenses 608 1,743 Embedded derivative Other income 1,564 1,569 Total $ (176,549) $ 35,825 Commodity Contracts As of November 30, 2020, and August 31, 2020, we had outstanding commodity futures and options contracts that were used as economic hedges, as well as fixed-price forward contracts related to physical purchases and sales of commodities. The table below presents the notional volumes for all outstanding commodity contracts. November 30, 2020 August 31, 2020 Long Short Long Short (Units in thousands) Grain and oilseed (bushels) 890,158 1,270,756 664,673 892,303 Energy products (barrels) 5,934 8,774 10,028 6,570 Processed grain and oilseed (tons) 717 5,378 657 3,304 Crop nutrients (tons) 35 147 74 127 Ocean freight (metric tons) 585 — 1,140 95 Foreign Exchange Contracts We conduct a substantial portion of our business in U.S. dollars, but we are exposed to risks relating to foreign currency fluctuations primarily due to global grain marketing transactions in South America, the Asia Pacific region and Europe, and purchases of products from Canada. We use foreign currency derivative instruments to mitigate the impact of exchange rate fluctuations. Although we have some risk exposure related to foreign currency transactions, a larger impact with exchange rate fluctuations is the ability of foreign buyers to purchase U.S. agricultural products and the competitiveness of U.S. agricultural products compared to the same products offered by alternative sources of world supply. The notional amount of our foreign exchange derivative contracts was $1.2 billion as of November 30, 2020, and August 31, 2020. Embedded Derivative Asset Under the terms of our strategic investment in CF Nitrogen, if the CF Industries credit rating is reduced below certain levels by two of three specified credit ratings agencies, we are entitled to receive a nonrefundable annual payment of $5.0 million from CF Industries. These payments will continue on an annual basis until the date that the CF Industries credit rating is upgraded to or above certain levels by two of the three specified credit ratings agencies or February 1, 2026, whichever is earlier. Since the CF Industries credit rating was reduced below the specified levels during fiscal 2017, we have received an annual payment of $5.0 million from CF Industries. Gains totaling $1.6 million were recognized in other income in our Condensed Consolidated Statements of Operations for each of the three months ended November 30, 2020 and 2019. The fair value of the embedded derivative asset recorded on our Condensed Consolidated Balance Sheet as of November 30, 2020, was equal to $15.6 million. The current and long-term portions of the embedded derivative asset are included in other current assets and other assets on our Condensed Consolidated Balance Sheets, respectively. See Note 12, Fair Value Measurements, for additional information regarding valuation of the embedded derivative asset. Derivatives Designated as Cash Flow Hedging Strategies Certain pay-fixed, receive-variable, cash-settled swaps are designated as cash flow hedges of future crude oil purchases in our Energy segment. We also designate certain pay-variable, receive-fixed, cash-settled swaps as cash flow hedges of future refined product sales. These hedging instruments and the related hedged items are exposed to significant market price risk and potential volatility. As part of our risk management strategy, we look to hedge a portion of our expected future crude oil needs and the resulting refined product output based on prevailing futures prices, management's expectations about future commodity price changes and our risk appetite. As of November 30, 2020, and August 31, 2020, the aggregate notional amount of cash flow hedges was 7.7 million and 9.7 million barrels, respectively. The following table presents the fair value of our commodity derivative instruments designated as cash flow hedges and the line items on our Condensed Consolidated Balance Sheets in which they are recorded. Derivative Assets Derivative Liabilities Balance Sheet Location November 30, 2020 August 31, Balance Sheet Location November 30, 2020 August 31, (Dollars in thousands) (Dollars in thousands) Other current assets $ 29,518 $ 34,052 Other current liabilities $ 2,313 $ 8,821 The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 (Dollars in thousands) Commodity derivatives $ 1,974 $ (7,103) The following table presents the pretax gains relating to cash flow hedges that were reclassified from accumulated other comprehensive loss into our Condensed Consolidated Statements of Operations for the three months ended November 30, 2020 and 2019: Three Months Ended Location of Gain 2020 2019 (Dollars in thousands) Commodity derivatives Cost of goods sold $ 12,673 $ 4,852

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Nov. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurements, defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We determine fair values of derivative instruments and other assets, based on the fair value hierarchy established in ASC Topic 820, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. ASC Topic 820 describes three levels within its hierarchy that may be used to measure fair value, and our assessment of relevant instruments within those levels is as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Recurring fair value measurements as of November 30, 2020, and August 31, 2020, are as follows: November 30, 2020 Quoted Prices in Significant Significant Total (Dollars in thousands) Assets Commodity derivatives $ 2,034 $ 669,939 $ — $ 671,973 Foreign exchange derivatives — 16,635 — 16,635 Deferred compensation assets 38,826 — — 38,826 Embedded derivative asset — 15,563 — 15,563 Segregated investments 185,001 — — 185,001 Other assets 5,251 — — 5,251 Total $ 231,112 $ 702,137 $ — $ 933,249 Liabilities Commodity derivatives $ 10,747 $ 511,475 $ — $ 522,222 Foreign exchange derivatives — 44,455 — 44,455 Total $ 10,747 $ 555,930 $ — $ 566,677 August 31, 2020 Quoted Prices in Significant Significant Total (Dollars in thousands) Assets Commodity derivatives $ 5,762 $ 355,783 $ — $ 361,545 Foreign exchange derivatives — 11,523 — 11,523 Deferred compensation assets 47,669 — — 47,669 Embedded derivative asset — 18,998 — 18,998 Segregated investments 85,950 — — 85,950 Other assets 5,276 — — 5,276 Total $ 144,657 $ 386,304 $ — $ 530,961 Liabilities Commodity derivatives $ 6,037 $ 346,126 $ — $ 352,163 Foreign exchange derivatives — 69,467 — 69,467 Total $ 6,037 $ 415,593 $ — $ 421,630 Commodity and foreign exchange derivatives . Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified within Level 1. Our forward commodity purchase and sales contracts with fixed-price components, select ocean freight contracts and other OTC derivatives are determined using inputs that are generally based on exchange traded prices and/or recent market bids and offers, adjusted for location-specific inputs, and are classified within Level 2. Location-specific inputs are driven by local market supply and demand and are generally based on broker or dealer quotations or market transactions in either the listed or OTC markets. Changes in the fair values of these contracts are recognized in our Condensed Consolidated Statements of Operations as a component of cost of goods sold. Deferred compensation and other assets . Our deferred compensation investments consist primarily of rabbi trust assets that are valued based on unadjusted quoted prices on active exchanges and are classified within Level 1. Changes in the fair values of these other assets are primarily recognized in our Condensed Consolidated Statements of Operations as a component of marketing, general and administrative expenses. Embedded derivative asset . The embedded derivative asset relates to contingent payments inherent to our investment in CF Nitrogen. The inputs used in the fair value measurement include the probability of future upgrades and downgrades of the CF Industries credit rating based on historical credit rating movements of other public companies and the discount rates applied to potential annual payments based on applicable historical and current yield coupon rates. Based on these observable inputs, our fair value measurement is classified within Level 2. See Note 11, Derivative Financial Instruments and Hedging Activities, for additional information. Segregated investments. Our segregated investments are composed primarily of U.S. Treasury securities, which are valued using quoted market prices and classified within Level 1.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies [Text Block]	Commitments and Contingencies Environmental We are required to comply with various environmental laws and regulations incidental to our normal business operations. To meet compliance requirements, we establish reserves for the future costs of remediation of identified issues that are both probable and can be reasonably estimated, which are included in cost of goods sold and marketing, general and administrative expenses in our Condensed Consolidated Statements of Operations. The resolution of any such matters may affect consolidated net income for any fiscal period; however, we believe any resulting liabilities, individually or in aggregate, will not have a material effect on our condensed consolidated financial statements during any fiscal year. Other Litigation and Claims We are involved as a defendant in various lawsuits, claims and disputes, which are in the normal course of our business. The resolution of any such matters may affect net income for any fiscal period; however, we believe any resulting liabilities, individually or in aggregate, will not have a material effect on our condensed consolidated financial statements during any fiscal year. Guarantees We are a guarantor for lines of credit and performance obligations of related, nonconsolidated companies. Our bank covenants allow maximum guarantees of $1.0 billion, of which $140.4 million were outstanding on November 30, 2020. We have collateral for a portion of these contingent obligations. We have not recorded a liability related to the contingent obligations as we do not expect to pay out any cash related to them, and the fair values are considered immaterial. The underlying loans to the counterparties for which we provide these guarantees were current as of November 30, 2020.

Leases (Notes)

Leases (Notes)	3 Months Ended
	Nov. 30, 2020
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	Leases We assess arrangements at inception to determine whether they contain a lease. An arrangement is considered to contain a lease if it conveys the right to control the use of an asset for a period of time in exchange for consideration. The right to control the use of an asset must include both (a) the right to obtain substantially all economic benefits associated with an identified asset and (b) the right to direct how and for what purpose the identified asset is used. Certain arrangements provide us with the right to use an identified asset; however, most of these arrangements are not considered to represent a lease as we do not control how and for what purpose the identified asset is used. For example, our supply agreements, warehousing and distribution services agreements, and transportation services agreements generally do not contain leases. We lease property, plant and equipment used in our operations primarily under operating lease agreements and, to a lesser extent, under finance lease agreements. Our operating leases are primarily for railcars, equipment, vehicles and office space, many of which contain renewal options and escalation clauses. Renewal options are included as part of the right of use asset and liability when it is reasonably certain that we will exercise the renewal option; however, renewal options are generally not included as we are not reasonably certain to exercise such options. Operating lease right of use assets and liabilities for operating leases are recognized at the lease commencement date for leases in excess of 12 months based on the present value of lease payments over the lease term. For measurement and classification of lease agreements, lease and nonlease components are grouped into a single lease component for all asset classes. Variable lease payments are excluded from measurement of right of use assets and liabilities and generally include payments for nonlease components such as maintenance costs, payments for leased assets beyond their noncancelable lease term and payments for other nonlease components such as sales tax. The discount rate used to calculate present value is our collateralized incremental borrowing rate or, if available, the rate implicit in the lease. The incremental borrowing rate is determined for each lease based primarily on its lease term. Certain lease arrangements include rental payments adjusted annually based on changes in an inflation index. Our lease arrangements generally do not contain residual value guarantees or material restrictive covenants. Lease expense is recognized on a straight-line basis over the lease term. The components of lease expense recognized in our Condensed Consolidated Statements of Operations are as follows: Three Months Ended 2020 2019 (Dollars in thousands) Operating lease expense $ 17,914 $ 16,480 Finance lease expense: Amortization of assets 2,055 2,189 Interest on lease liabilities 246 224 Short-term lease expense 4,356 3,343 Variable lease expense 678 116 Total net lease expense* $ 25,249 $ 22,352 *Income related to sub-lease activity is not material and has been excluded from the table above. Supplemental balance sheet information related to operating and finance leases is as follows: Balance Sheet Location November 30, 2020 August 31, 2020 (Dollars in thousands) Operating leases Assets Operating lease right of use assets Other assets $ 251,968 $ 257,834 Liabilities Current operating lease liabilities Accrued expenses 56,531 57,200 Long-term operating lease liabilities Other liabilities 198,481 203,691 Total operating lease liabilities $ 255,012 $ 260,891 Finance leases Assets Finance lease assets Property, plant and equipment $ 42,449 $ 44,860 Liabilities Current finance lease liabilities Current portion of long-term debt 7,236 7,993 Long-term finance lease liabilities Long-term debt 21,636 23,467 Total finance lease liabilities $ 28,872 $ 31,460 Weighted average remaining lease term (in years) Operating leases 8.2 8.3 Finance leases 6.2 6.0 Weighted average discount rate Operating leases 3.10 % 3.11 % Finance leases 3.41 % 3.33 % Supplemental cash flow and other information related to operating and finance leases are as follows: Three Months Ended 2020 2019 (Dollars in thousands) Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 18,314 $ 15,722 Operating cash flows from finance leases 246 224 Financing cash flows from finance leases 2,869 1,673 Supplemental noncash information: Right of use assets obtained in exchange for lease liabilities 4,482 4,724 Right of use asset modifications 6,822 — Maturities of lease liabilities as of November 30, 2020, were as follows: November 30, 2020 Finance Leases Operating Leases (Dollars in thousands) Remainder of fiscal 2021 $ 5,755 $ 48,395 Fiscal 2022 7,049 53,090 Fiscal 2023 6,091 42,893 Fiscal 2024 3,482 34,307 Fiscal 2025 2,077 24,945 After fiscal 2025 8,076 96,394 Total maturities of lease liabilities 32,530 300,024 Less amounts representing interest 3,658 45,012 Present value of future minimum lease payments 28,872 255,012 Less current lease liabilities 7,236 56,531 Long-term lease liabilities $ 21,636 $ 198,481

Organization, Basis of Presen_2

Organization, Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Nov. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting, Policy	These unaudited condensed consolidated financial statements reflect, in the opinion of management, all normal recurring adjustments necessary for a fair statement of our financial position, results of operations and cash flows for the periods presented. The results of operations and cash flows for interim periods are not necessarily indicative of results for a full fiscal year because of the seasonal nature of our businesses, among other things. Our unaudited condensed consolidated financial statements and notes are presented as permitted by the requirements for Quarterly Reports on Form 10-Q
Consolidation, Policy	should be read in conjunction with the consolidated financial statements and notes thereto for the year ended August 31, 2020, included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission ("SEC").
Significant Accounting Policies [Text Block]	Significant Accounting Policies The following significant accounting policy was updated or changed since our Annual Report on Form 10-K for the year ended August 31, 2020. Receivables As described in the "Recent Accounting Pronouncements" section, we adopted Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses ("ASC Topic 326"): Measurement of Credit Losses on Financial Instruments
Recent Accounting Pronouncements	Recent Accounting Pronouncements Except for the recent accounting pronouncement described below, other recent accounting pronouncements are not expected to have a material impact on our condensed consolidated financial statements. Adopted In June 2016, the Financial Accounting Standards Board issued ASC Topic 326. The amendments in this ASU introduce a new approach, based on expected losses, to estimate credit losses on certain types of financial instruments. This ASU is intended to provide financial statement users with more decision-useful information about the expected credit losses associated with most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt securities, net investments in leases and off-balance sheet credit exposures. Entities are required to apply the provisions of this ASU as a cumulative-effect adjustment to the opening balance of capital reserves as of the beginning of the first reporting period in which the guidance is adopted. As part of our adoption efforts, we performed various data-gathering activities, developed a credit losses model, performed data analyses and made accounting policy election determinations. The impact of adoption did not have a material impact on our condensed consolidated financial statements. Not Yet Adopted

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Nov. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenues	The following table presents revenues recognized under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), disaggregated by reportable segment, as well as the amount of revenues recognized under ASC Topic 815, Derivatives and Hedging ("ASC Topic 815"), and other applicable accounting guidance for the three months ended November 30, 2020 and 2019. Other applicable accounting guidance primarily includes revenues recognized under ASC Topic 842, Leases , and ASC Topic 470, Debt , that fall outside the scope of ASC Topic 606. ASC Topic 606 ASC Topic 815 Other Guidance Total Revenues Three Months Ended November 30, 2020 (Dollars in thousands) Energy $ 1,064,963 $ 192,884 $ — $ 1,257,847 Ag 1,344,508 6,087,241 13,653 7,445,402 Corporate and Other 6,460 — 5,934 12,394 Total revenues $ 2,415,931 $ 6,280,125 $ 19,587 $ 8,715,643 Three Months Ended November 30, 2019 Energy $ 1,693,848 $ 201,575 $ — $ 1,895,423 Ag 1,358,626 4,316,087 37,142 5,711,855 Corporate and Other 5,541 — 8,666 14,207 Total revenues $ 3,058,015 $ 4,517,662 $ 45,808 $ 7,621,485

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Nov. 30, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	November 30, August 31, (Dollars in thousands) Trade accounts receivable $ 1,897,540 $ 1,476,585 CHS Capital short-term notes receivable 586,037 563,934 Other 474,510 491,068 Gross receivables 2,958,087 2,531,587 Less: allowances and reserves 153,781 165,540 Total receivables $ 2,804,306 $ 2,366,047

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Nov. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	November 30, August 31, (Dollars in thousands) Grain and oilseed $ 1,975,810 $ 1,064,079 Energy 715,199 696,858 Agronomy 851,127 822,535 Processed grain and oilseed 130,511 126,022 Other 45,186 32,644 Total inventories $ 3,717,833 $ 2,742,138

Investments (Tables)

Investments (Tables)	3 Months Ended
	Nov. 30, 2020
Investments [Abstract]
Investment Holdings, Schedule of Investments [Table Text Block]	November 30, August 31, (Dollars in thousands) Equity method investments: CF Industries Nitrogen, LLC $ 2,684,306 $ 2,662,618 Ventura Foods, LLC 388,869 381,351 Ardent Mills, LLC 211,120 208,927 Other equity method investments 258,049 253,182 Other investments 124,130 123,955 Total investments $ 3,666,474 $ 3,630,033
Equity Method Investments [Table Text Block]	The following table provides summarized unaudited financial information for our equity method investment in CF Nitrogen for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 Net sales $ 606,340 $ 649,638 Gross profit 94,068 149,573 Net earnings 81,173 140,490 Earnings attributable to CHS Inc. 21,688 34,834 The following table provides aggregate summarized unaudited financial information for our equity method investment in Ventura Foods for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 Net sales $ 579,074 $ 629,360 Gross profit 72,522 106,140 Net earnings 25,102 26,126 Earnings attributable to CHS Inc. 12,551 13,063 The following table provides aggregate summarized unaudited financial information for our equity method investments in Ardent Mills and TEMCO for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 Net sales $ 2,795,940 $ 1,587,493 Gross profit 131,904 97,570 Net earnings 64,554 35,451 Earnings attributable to CHS Inc. 12,627 (402)

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Tables)	3 Months Ended
	Nov. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	November 30, August 31, (Dollars in thousands) Notes payable $ 1,268,772 $ 763,215 CHS Capital notes payable 770,311 812,276 Total notes payable $ 2,039,083 $ 1,575,491

Equities (Tables)

Equities (Tables)	3 Months Ended
	Nov. 30, 2020
Class of Stock [Line Items]
Schedule of Accumulated Other Comprehensive Income (Loss)	Pension and Other Postretirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustment Total (Dollars in thousands) Balance as of August 31, 2020, net of tax $ (159,680) $ 10,886 $ (85,130) $ (233,924) Other comprehensive income (loss), before tax: Amounts before reclassifications (125) 14,506 3,629 18,010 Amounts reclassified 4,977 (12,284) — (7,307) Total other comprehensive income, before tax 4,852 2,222 3,629 10,703 Tax effect (1,207) (553) (26) (1,786) Other comprehensive income, net of tax 3,645 1,669 3,603 8,917 Balance as of November 30, 2020, net of tax $ (156,035) $ 12,555 $ (81,527) $ (225,007) Pension and Other Postretirement Benefits Cash Flow Hedges Foreign Currency Translation Adjustment Total (Dollars in thousands) Balance as of August 31, 2019, net of tax $ (172,478) $ 15,297 $ (69,752) $ (226,933) Other comprehensive income (loss), before tax: Amounts before reclassifications (85) (3,331) (2,411) (5,827) Amounts reclassified 4,977 (4,473) — 504 Total other comprehensive income (loss), before tax 4,892 (7,804) (2,411) (5,323) Tax effect 181 1,932 1,572 3,685 Other comprehensive income (loss), net of tax 5,073 (5,872) (839) (1,638) Balance as of November 30, 2019, net of tax $ (167,405) $ 9,425 $ (70,591) $ (228,571)
Schedule of Stockholders Equity	Changes in equities for the three months ended November 30, 2020 and 2019, are as follows: Equity Certificates Accumulated Capital Nonpatronage Nonqualified Equity Certificates Preferred Capital Noncontrolling Total (Dollars in thousands) Balances, August 31, 2020 $ 3,724,187 $ 28,727 $ 1,408,696 $ 2,264,038 $ (233,924) $ 1,618,147 $ 9,302 $ 8,819,173 Reversal of prior year redemption estimates 7,726 — — — — — — 7,726 Redemptions of equities (6,539) (31) (1,156) — — — — (7,726) Preferred stock dividends — — — — — (84,334) — (84,334) Other, net (654) (47) (197) — — (7,798) 35 (8,661) Net income (loss) — — — — — 69,671 (302) 69,369 Other comprehensive income, net of tax — — — — 8,917 — — 8,917 Estimated 2021 cash patronage refunds — — — — — (9,304) — (9,304) Estimated 2021 equity redemptions (9,304) — — — — — — (9,304) Balances, November 30, 2020 $ 3,715,416 $ 28,649 $ 1,407,343 $ 2,264,038 $ (225,007) $ 1,586,382 $ 9,035 $ 8,785,856 Equity Certificates Accumulated Capital Nonpatronage Nonqualified Equity Certificates Preferred Capital Noncontrolling Total (Dollars in thousands) Balances, August 31, 2019 $ 3,753,493 $ 29,074 $ 1,206,310 $ 2,264,038 $ (226,933) $ 1,584,158 $ 7,390 $ 8,617,530 Reversal of prior year redemption estimates 5,447 — — — — — — 5,447 Redemptions of equities (4,721) (54) (672) — — — — (5,447) Preferred stock dividends — — — — — (84,334) — (84,334) ASC Topic 842 cumulative-effect adjustment — — — — — 33,707 — 33,707 Other, net (8) — (39) — — (1,312) 410 (949) Net income — — — — — 177,882 855 178,737 Other comprehensive loss, net of tax — — — — (1,638) — — (1,638) Estimated 2020 cash patronage refunds — — — — — (28,504) — (28,504) Estimated 2020 equity redemptions (91,633) — — — — — — (91,633) Balances, November 30, 2019 $ 3,662,578 $ 29,020 $ 1,205,599 $ 2,264,038 $ (228,571) $ 1,681,597 $ 8,655 $ 8,622,916
Preferred Stock [Text Block]	Preferred Stock Dividends The following is a summary of dividends per share by series of preferred stock for the three months ended November 30, 2020 and 2019. Due to the timing of dividend declarations during the first quarter of each fiscal year, the per share amount of dividends is comprised of two quarterly dividend declarations for each period. Three Months Ended Nasdaq symbol 2020 2019 Series of preferred stock: (Dollars per share) 8% Cumulative Redeemable CHSCP $ 1.00 $ 1.00 Class B Cumulative Redeemable, Series 1 CHSCO 0.98 0.98 Class B Reset Rate Cumulative Redeemable, Series 2 CHSCN 0.88 0.88 Class B Reset Rate Cumulative Redeemable, Series 3 CHSCM 0.84 0.84 Class B Cumulative Redeemable, Series 4 CHSCL 0.94 0.94

Benefit Plans Schedule of Net B

Benefit Plans Schedule of Net Benefit Costs (Tables)	3 Months Ended
	Nov. 30, 2020
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs of Assumptions Used	Components of net periodic benefit costs for the three months ended November 30, 2020 and 2019, are as follows: Three Months Ended Qualified Nonqualified Other Benefits 2020 2019 2020 2019 2020 2019 Components of net periodic benefit costs: (Dollars in thousands) Service cost $ 11,307 $ 10,538 $ 108 $ 101 $ 297 $ 262 Interest cost 4,141 5,431 68 107 123 187 Expected return on assets (10,910) (11,671) — — — — Prior service cost (credit) amortization 45 45 (28) (28) (111) (111) Actuarial loss (gain) amortization 5,447 5,396 53 25 (341) (348) Net periodic benefit cost (benefit) $ 10,030 $ 9,739 $ 201 $ 205 $ (32) $ (10)

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	3 Months Ended
	Nov. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Reconciliation of gross and net fair values of assets and liabilities subject to offsetting arrangements	November 30, 2020 Amounts Not Offset on Condensed Consolidated Balance Sheet but Eligible for Offsetting Gross Amount Recognized Cash Collateral Derivative Instruments Net Amount (Dollars in thousands) Derivative Assets Commodity derivatives $ 642,455 $ — $ 2,036 $ 640,419 Foreign exchange derivatives 16,684 — 7,629 9,055 Embedded derivative asset 15,563 — — 15,563 Total $ 674,702 $ — $ 9,665 $ 665,037 Derivative Liabilities Commodity derivatives $ 519,909 $ 1,447 $ 9,890 $ 508,572 Foreign exchange derivatives 44,455 — 7,629 36,826 Total $ 564,364 $ 1,447 $ 17,519 $ 545,398 August 31, 2020 Amounts Not Offset on Condensed Consolidated Balance Sheet but Eligible for Offsetting Gross Amount Recognized Cash Collateral Derivative Instruments Net Amount (Dollars in thousands) Derivative Assets Commodity derivatives $ 327,493 $ — $ 2,980 $ 324,513 Foreign exchange derivatives 11,809 — 9,385 2,424 Embedded derivative asset 18,998 — — 18,998 Total $ 358,300 $ — $ 12,365 $ 345,935 Derivative Liabilities Commodity derivatives $ 343,343 $ 956 $ 5,578 $ 336,809 Foreign exchange derivatives 69,466 — 9,385 60,081 Total $ 412,809 $ 956 $ 14,963 $ 396,890
Derivatives Not Designated as Hedging Instruments	The majority of our derivative instruments have not been 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 months ended November 30, 2020 and 2019. Three Months Ended Location of Gain (Loss) 2020 2019 (Dollars in thousands) Commodity derivatives Cost of goods sold $ (201,362) $ 42,674 Foreign exchange derivatives Cost of goods sold 22,641 (10,161) Foreign exchange derivatives Marketing, general and administrative expenses 608 1,743 Embedded derivative Other income 1,564 1,569 Total $ (176,549) $ 35,825
Schedule of Derivative Instruments, Purchase and Sales Contracts	all outstanding commodity contracts. November 30, 2020 August 31, 2020 Long Short Long Short (Units in thousands) Grain and oilseed (bushels) 890,158 1,270,756 664,673 892,303 Energy products (barrels) 5,934 8,774 10,028 6,570 Processed grain and oilseed (tons) 717 5,378 657 3,304 Crop nutrients (tons) 35 147 74 127 Ocean freight (metric tons) 585 — 1,140 95
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 line items on our Condensed Consolidated Balance Sheets in which they are recorded. Derivative Assets Derivative Liabilities Balance Sheet Location November 30, 2020 August 31, Balance Sheet Location November 30, 2020 August 31, (Dollars in thousands) (Dollars in thousands) Other current assets $ 29,518 $ 34,052 Other current liabilities $ 2,313 $ 8,821
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the three months ended November 30, 2020 and 2019: Three Months Ended 2020 2019 (Dollars in thousands) Commodity derivatives $ 1,974 $ (7,103)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents the pretax gains relating to cash flow hedges that were reclassified from accumulated other comprehensive loss into our Condensed Consolidated Statements of Operations for the three months ended November 30, 2020 and 2019: Three Months Ended Location of Gain 2020 2019 (Dollars in thousands) Commodity derivatives Cost of goods sold $ 12,673 $ 4,852

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Nov. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	November 30, 2020 Quoted Prices in Significant Significant Total (Dollars in thousands) Assets Commodity derivatives $ 2,034 $ 669,939 $ — $ 671,973 Foreign exchange derivatives — 16,635 — 16,635 Deferred compensation assets 38,826 — — 38,826 Embedded derivative asset — 15,563 — 15,563 Segregated investments 185,001 — — 185,001 Other assets 5,251 — — 5,251 Total $ 231,112 $ 702,137 $ — $ 933,249 Liabilities Commodity derivatives $ 10,747 $ 511,475 $ — $ 522,222 Foreign exchange derivatives — 44,455 — 44,455 Total $ 10,747 $ 555,930 $ — $ 566,677 August 31, 2020 Quoted Prices in Significant Significant Total (Dollars in thousands) Assets Commodity derivatives $ 5,762 $ 355,783 $ — $ 361,545 Foreign exchange derivatives — 11,523 — 11,523 Deferred compensation assets 47,669 — — 47,669 Embedded derivative asset — 18,998 — 18,998 Segregated investments 85,950 — — 85,950 Other assets 5,276 — — 5,276 Total $ 144,657 $ 386,304 $ — $ 530,961 Liabilities Commodity derivatives $ 6,037 $ 346,126 $ — $ 352,163 Foreign exchange derivatives — 69,467 — 69,467 Total $ 6,037 $ 415,593 $ — $ 421,630

Leases (Tables)

Leases (Tables)	3 Months Ended
	Nov. 30, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]	Lease expense is recognized on a straight-line basis over the lease term. The components of lease expense recognized in our Condensed Consolidated Statements of Operations are as follows: Three Months Ended 2020 2019 (Dollars in thousands) Operating lease expense $ 17,914 $ 16,480 Finance lease expense: Amortization of assets 2,055 2,189 Interest on lease liabilities 246 224 Short-term lease expense 4,356 3,343 Variable lease expense 678 116 Total net lease expense* $ 25,249 $ 22,352 *Income related to sub-lease activity is not material and has been excluded from the table above.
Lease Balance Sheet disclosure [Table Text Block]	Supplemental balance sheet information related to operating and finance leases is as follows: Balance Sheet Location November 30, 2020 August 31, 2020 (Dollars in thousands) Operating leases Assets Operating lease right of use assets Other assets $ 251,968 $ 257,834 Liabilities Current operating lease liabilities Accrued expenses 56,531 57,200 Long-term operating lease liabilities Other liabilities 198,481 203,691 Total operating lease liabilities $ 255,012 $ 260,891 Finance leases Assets Finance lease assets Property, plant and equipment $ 42,449 $ 44,860 Liabilities Current finance lease liabilities Current portion of long-term debt 7,236 7,993 Long-term finance lease liabilities Long-term debt 21,636 23,467 Total finance lease liabilities $ 28,872 $ 31,460 Weighted average remaining lease term (in years) Operating leases 8.2 8.3 Finance leases 6.2 6.0 Weighted average discount rate Operating leases 3.10 % 3.11 % Finance leases 3.41 % 3.33 %
Lease Cash flow and other information disclosure [Table Text Block]	Supplemental cash flow and other information related to operating and finance leases are as follows: Three Months Ended 2020 2019 (Dollars in thousands) Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 18,314 $ 15,722 Operating cash flows from finance leases 246 224 Financing cash flows from finance leases 2,869 1,673 Supplemental noncash information: Right of use assets obtained in exchange for lease liabilities 4,482 4,724 Right of use asset modifications 6,822 —
Lease liability maturity [Table Text Block]	Maturities of lease liabilities as of November 30, 2020, were as follows: November 30, 2020 Finance Leases Operating Leases (Dollars in thousands) Remainder of fiscal 2021 $ 5,755 $ 48,395 Fiscal 2022 7,049 53,090 Fiscal 2023 6,091 42,893 Fiscal 2024 3,482 34,307 Fiscal 2025 2,077 24,945 After fiscal 2025 8,076 96,394 Total maturities of lease liabilities 32,530 300,024 Less amounts representing interest 3,658 45,012 Present value of future minimum lease payments 28,872 255,012 Less current lease liabilities 7,236 56,531 Long-term lease liabilities $ 21,636 $ 198,481

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized	$ 60.7	$ 92
Contract liabilities	$ 183.9		$ 139.1

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 8,715,643	$ 7,621,485
Energy
Disaggregation of Revenue [Line Items]
Revenues	1,257,847	1,895,423
Ag
Disaggregation of Revenue [Line Items]
Revenues	7,445,402	5,711,855
Corporate and Other
Disaggregation of Revenue [Line Items]
Revenues	12,394	14,207
ASC Topic 606
Disaggregation of Revenue [Line Items]
Revenues	2,415,931	3,058,015
ASC Topic 606 | Energy
Disaggregation of Revenue [Line Items]
Revenues	1,064,963	1,693,848
ASC Topic 606 | Ag
Disaggregation of Revenue [Line Items]
Revenues	1,344,508	1,358,626
ASC Topic 606 | Corporate and Other
Disaggregation of Revenue [Line Items]
Revenues	6,460	5,541
ASC Topic 815
Disaggregation of Revenue [Line Items]
Revenues	6,280,125	4,517,662
ASC Topic 815 | Energy
Disaggregation of Revenue [Line Items]
Revenues	192,884	201,575
ASC Topic 815 | Ag
Disaggregation of Revenue [Line Items]
Revenues	6,087,241	4,316,087
ASC Topic 815 | Corporate and Other
Disaggregation of Revenue [Line Items]
Revenues	0	0
Other Guidance
Disaggregation of Revenue [Line Items]
Revenues	19,587	45,808
Other Guidance | Energy
Disaggregation of Revenue [Line Items]
Revenues	0	0
Other Guidance | Ag
Disaggregation of Revenue [Line Items]
Revenues	13,653	37,142
Other Guidance | Corporate and Other
Disaggregation of Revenue [Line Items]
Revenues	$ 5,934	$ 8,666

Receivables - Schedule of Recei

Receivables - Schedule of Receivables (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Receivables [Abstract]
Trade accounts receivable	$ 1,897,540	$ 1,476,585
CHS Capital short-term notes receivable	586,037	563,934
Other	474,510	491,068
Receivables, gross	2,958,087	2,531,587
Less: allowances and reserves	153,781	165,540
Total receivables	$ 2,804,306	$ 2,366,047

Receivables - Narrative (Detail

Receivables - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2020	Aug. 31, 2020
Notes Receivable, Long-Term
CHS Capital long-term notes receivable additional available credit of counterparty	$ 595.3
CHS Capital Notes Receivable [Member]
Notes Receivable, Long-Term
CHS Capital long-term notes receivable, non-current, term	10 years
CHS Capital long-term notes receivable	$ 106.4	$ 101.5
Commercial Notes to Notes and Loans Receivable, Net, Percentage	47.00%	33.00%
Producer Notes to Notes and Loans Receivable, Net, Percentage	53.00%	67.00%

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Inventory Disclosure [Abstract]
Grain and oilseed	$ 1,975,810	$ 1,064,079
Energy	715,199	696,858
Agronomy	851,127	822,535
Processed grain and oilseed	130,511	126,022
Other	45,186	32,644
Total inventories	$ 3,717,833	$ 2,742,138

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Nov. 30, 2020	Aug. 31, 2020
Inventory Disclosure [Abstract]
LIFO inventory, difference amount had FIFO inventory valuation method been used	$ 87.3	$ 93.5
Percentage of LIFO inventory	12.00%	16.00%
Inventory [Line Items]
Percentage of LIFO inventory	12.00%	16.00%

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020
Schedule of Equity Method Investments [Line Items]
Equity income from investments	$ (50,023)	$ (49,662)
Cost Method Investments	124,130		$ 123,955
Investments	3,666,474		3,630,033
Investment Company, Distributable Earnings	424,400
CF Nitrogen LLC [Member]
Schedule of Equity Method Investments [Line Items]
Payments to Acquire Equity Method Investments	$ 2,700,000
Ownership percentage	10.00%
Equity Method Investments	$ 2,684,306		2,662,618
Ventura Foods, LLC
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 388,869		381,351
TEMCO, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Ardent Mills LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage	12.00%
Equity Method Investments	$ 211,120		$ 208,927
Nitrogen Production [Member]
Schedule of Equity Method Investments [Line Items]
Equity income from investments	$ (21,688)	(34,834)
Foods [Member] | Ventura Foods, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50.00%
Corporate and Other
Schedule of Equity Method Investments [Line Items]
Equity income from investments	$ (17,672)	(18,621)
Ag
Schedule of Equity Method Investments [Line Items]
Equity income from investments	$ (10,174)	$ 4,157

Investments Equity Method inves

Investments Equity Method investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020
Schedule of Equity Method Investments [Line Items]
Cost Method Investments	$ 124,130		$ 123,955
Net income (loss) attributable to CHS Inc.	69,671	$ 177,882
Gross Profit	178,104	325,543
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	69,369	178,737
Other Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	258,049		253,182
CF Nitrogen LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	2,684,306		2,662,618
Net income (loss) attributable to CHS Inc.	21,688	34,834
Revenues	606,340	649,638
Gross Profit	94,068	149,573
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	81,173	140,490
Ventura Foods, LLC
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	388,869		381,351
Net income (loss) attributable to CHS Inc.	12,551	13,063
Revenues	579,074	629,360
Gross Profit	72,522	106,140
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	25,102	26,126
Ardent Mills LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	211,120		$ 208,927
TEMCO and Ardent Mills
Schedule of Equity Method Investments [Line Items]
Net income (loss) attributable to CHS Inc.	12,627	(402)
Revenues	2,795,940	1,587,493
Gross Profit	131,904	97,570
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 64,554	$ 35,451

Notes Payable and Long-Term D_3

Notes Payable and Long-Term Debt - Schedule of Notes Payable and Long-Term Debt (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Debt Instrument [Line Items]
Notes payable	$ 2,039,083	$ 1,575,491
Notes payable [Member]
Debt Instrument [Line Items]
Notes payable	1,268,772	763,215
CHS Capital notes payable
Debt Instrument [Line Items]
Notes payable	$ 770,311	$ 812,276

Notes Payable and Long-Term D_4

Notes Payable and Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020	Aug. 14, 2020
Debt Instrument [Line Items]
Interest expense	$ 25,050	$ 34,971
Capitalized interest	2,100	2,800
Interest Expense	25,050	$ 34,971
Principal Amount Outstanding of Loans Held-in-portfolio	456,000
increase to maximum availability under securitization	$ 600,000
maximum availability under securitization			$ 500,000
Notes Purchase Agreement				$ 375,000
Five-Year Revolving Facilities | Line of Credit | Revolving credit facility
Debt Instrument [Line Items]
Debt instrument, term	5 years
Current borrowing capacity	$ 2,750,000
Outstanding balance	527,000		$ 345,000
Repurchase Facility | Subordinated Debt
Debt Instrument [Line Items]
Outstanding balance	150,000
Maximum borrowing capacity	$ 150,000

Equities Changes in Equity (Det

Equities Changes in Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 8,819,173	$ 8,617,530
Reversal of prior year patronage and redemption estimates	7,726	5,447
Redemptions of equities	(7,726)	(5,447)
Preferred stock dividends	(84,334)	(84,334)
ASC Topic 842 cumulative effect adjustment		33,707
Other, net	(8,661)	(949)
Net income (loss)	69,369	178,737
Net income (loss) attributable to CHS Inc.	69,671	177,882
Net (loss) income attributable to noncontrolling interests	(302)	855
Other comprehensive loss, net of tax	8,917	(1,638)
Estimated 2021 cash patronage refunds	(9,304)	(28,504)
Estimated 2021 equity redemptions	(9,304)	(91,633)
Ending Balance	8,785,856	8,622,916
Capital equity certificates [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	3,724,187	3,753,493
Reversal of prior year patronage and redemption estimates	7,726	5,447
Redemptions of equities	(6,539)	(4,721)
Other, net	(654)	(8)
Estimated 2021 equity redemptions	(9,304)	(91,633)
Ending Balance	3,715,416	3,662,578
Nonpatronage Equity Certificates [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	28,727	29,074
Reversal of prior year patronage and redemption estimates	0	0
Redemptions of equities	(31)	(54)
Other, net	(47)
Ending Balance	28,649	29,020
Non-qualified Equity Certificates [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	1,408,696	1,206,310
Reversal of prior year patronage and redemption estimates	0	0
Redemptions of equities	(1,156)	(672)
Other, net	(197)	(39)
Ending Balance	1,407,343	1,205,599
Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	2,264,038	2,264,038
Redemptions of equities	0	0
Ending Balance	2,264,038	2,264,038
Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(233,924)	(226,933)
Other comprehensive loss, net of tax	8,917	(1,638)
Ending Balance	(225,007)	(228,571)
Capital Reserves [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	1,618,147	1,584,158
Reversal of prior year patronage and redemption estimates	0	0
Preferred stock dividends	(84,334)	(84,334)
Other, net	(7,798)	(1,312)
Net income (loss) attributable to CHS Inc.	69,671	177,882
Estimated 2021 cash patronage refunds	(9,304)	(28,504)
Ending Balance	1,586,382	1,681,597
Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	9,302	7,390
Other, net	35	410
Net (loss) income attributable to noncontrolling interests	(302)	855
Ending Balance	$ 9,035	8,655
Accounting Standards Update 2016-02 [Member] | Capital equity certificates [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		0
Accounting Standards Update 2016-02 [Member] | Nonpatronage Equity Certificates [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		0
Accounting Standards Update 2016-02 [Member] | Non-qualified Equity Certificates [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		0
Accounting Standards Update 2016-02 [Member] | Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		0
Accounting Standards Update 2016-02 [Member] | Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		0
Accounting Standards Update 2016-02 [Member] | Capital Reserves [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		33,707
Accounting Standards Update 2016-02 [Member] | Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
ASC Topic 842 cumulative effect adjustment		$ 0

Equities Accumulated Other Comp

Equities Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 8,819,173	$ 8,617,530
Other comprehensive income (loss), net of tax	8,917	(1,638)
Ending Balance	8,785,856	8,622,916
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(159,680)	(172,478)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(125)	(85)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	4,977	4,977
Other Comprehensive Income (Loss), before Tax	4,852	4,892
Other Comprehensive Income (Loss), Tax	(1,207)	181
Other comprehensive income (loss), net of tax	3,645	5,073
Ending Balance	(156,035)	(167,405)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	10,886	15,297
Other Comprehensive Income (Loss), before Reclassifications, before Tax	14,506	(3,331)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(12,284)	(4,473)
Other Comprehensive Income (Loss), before Tax	2,222	(7,804)
Other Comprehensive Income (Loss), Tax	(553)	1,932
Other comprehensive income (loss), net of tax	1,669	(5,872)
Ending Balance	12,555	9,425
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(85,130)	(69,752)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	3,629	(2,411)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Other Comprehensive Income (Loss), before Tax	3,629	(2,411)
Other Comprehensive Income (Loss), Tax	(26)	1,572
Other comprehensive income (loss), net of tax	3,603	(839)
Ending Balance	(81,527)	(70,591)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(233,924)	(226,933)
Other Comprehensive Income (Loss), before Reclassifications, before Tax	18,010	(5,827)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(7,307)	504
Other Comprehensive Income (Loss), before Tax	10,703	(5,323)
Other Comprehensive Income (Loss), Tax	(1,786)	3,685
Other comprehensive income (loss), net of tax	8,917	(1,638)
Ending Balance	$ (225,007)	$ (228,571)

Equities Dividends Per Share (D

Equities Dividends Per Share (Details) - $ / shares	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
8% Cumulative Redeemable [Member]
8% Cumulative Redeemable [Line Items]
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears	$ 1	$ 1
Class B, Series 1 Preferred Stock [Member]
8% Cumulative Redeemable [Line Items]
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears	0.98	0.98
Class B, Series 2 Preferred Stock [Member]
8% Cumulative Redeemable [Line Items]
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears	0.88	0.88
Class B, Series 3 Preferred Stock [Member]
8% Cumulative Redeemable [Line Items]
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears	0.84	0.84
Class B, Series 4 Preferred Stock [Member]
8% Cumulative Redeemable [Line Items]
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears	$ 0.94	$ 0.94

Benefit Plans - Net Periodic Be

Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Qualified Pension Benefits
Component of net periodic benefit costs: [Abstract]
Service cost	$ 11,307	$ 10,538
Interest cost	4,141	5,431
Expected return on assets	(10,910)	(11,671)
Prior service cost (credit) amortization	45	45
Actuarial loss (gain) amortization	5,447	5,396
Net periodic benefit cost (benefit)	10,030	9,739
Non-Qualified Pension Benefits
Component of net periodic benefit costs: [Abstract]
Service cost	108	101
Interest cost	68	107
Expected return on assets	0	0
Prior service cost (credit) amortization	(28)	(28)
Actuarial loss (gain) amortization	53	25
Net periodic benefit cost (benefit)	201	205
Other Benefits
Component of net periodic benefit costs: [Abstract]
Service cost	297	262
Interest cost	123	187
Expected return on assets	0	0
Prior service cost (credit) amortization	(111)	(111)
Actuarial loss (gain) amortization	(341)	(348)
Net periodic benefit cost (benefit)	$ (32)	$ (10)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	(54.00%)	3.60%
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 114.4		$ 111.3

Segment Reporting - Segment Inf

Segment Reporting - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 8,715,643	$ 7,621,485
Revenue From Contract With Customer Net of Intersegment Revenue Excluding Assessed Tax	8,715,643	7,621,485
Operating earnings (loss)	7,443	157,212
Interest Expense	25,050	34,971
Other income	(12,624)	(13,498)
Equity income from investments	(50,023)	(49,662)
Income before income taxes	45,040	185,401
Total assets	18,030,950		$ 15,993,947
Energy
Segment Reporting Information [Line Items]
Revenues, including intersegment revenues	1,357,845	2,027,895
Revenues	1,257,847	1,895,423
Revenue From Contract With Customer Net of Intersegment Revenue Excluding Assessed Tax	1,257,847	1,895,423
Operating earnings (loss)	(68,385)	161,199
Interest Income, Operating	(238)
Interest Expense		374
Other income	(482)	(964)
Equity income from investments	(489)	(364)
Income before income taxes	(67,176)	162,153
Ag
Segment Reporting Information [Line Items]
Revenues, including intersegment revenues	7,450,305	5,715,994
Revenues	7,445,402	5,711,855
Revenue From Contract With Customer Net of Intersegment Revenue Excluding Assessed Tax	7,445,402	5,711,855
Operating earnings (loss)	75,524	(417)
Interest Expense	14,505	20,741
Other income	(11,817)	(11,453)
Equity income from investments	(10,174)	4,157
Income before income taxes	83,010	(13,862)
Nitrogen Production [Member]
Segment Reporting Information [Line Items]
Revenues, including intersegment revenues	0	0
Operating earnings (loss)	(7,623)	(7,823)
Interest Expense	11,163	12,130
Other income	(1,566)	(1,569)
Equity income from investments	(21,688)	(34,834)
Income before income taxes	4,468	16,450
Corporate and Other
Segment Reporting Information [Line Items]
Revenues, including intersegment revenues	15,481	15,950
Revenues	12,394	14,207
Revenue From Contract With Customer Net of Intersegment Revenue Excluding Assessed Tax	12,394	14,207
Operating earnings (loss)	7,927	4,253
Interest Expense	1,138	3,838
Other income	(277)	(1,624)
Equity income from investments	(17,672)	(18,621)
Income before income taxes	24,738	20,660
Reconciling Amounts
Segment Reporting Information [Line Items]
Revenues	(107,988)	(138,354)
Operating earnings (loss)	0	0
Interest Expense	(1,518)	(2,112)
Other income	1,518	2,112
Equity income from investments	0	0
Income before income taxes	0	0
Operating Segments [Member] | Energy
Segment Reporting Information [Line Items]
Intersegment Revenue	(99,998)	(132,472)
Total assets	4,318,529
Operating Segments [Member] | Ag
Segment Reporting Information [Line Items]
Intersegment Revenue	(4,903)	(4,139)
Total assets	8,299,580
Operating Segments [Member] | Nitrogen Production [Member]
Segment Reporting Information [Line Items]
Intersegment Revenue	0	0
Revenue From Contract With Customer Net of Intersegment Revenue Excluding Assessed Tax	0	0
Total assets	2,699,869
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Intersegment Revenue	(3,087)	(1,743)
Total assets	2,712,972
Reconciling Amounts
Segment Reporting Information [Line Items]
Intersegment Revenue	107,988	138,354
Revenue From Contract With Customer Net of Intersegment Revenue Excluding Assessed Tax	0	$ 0
Total assets	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Gross Fair Values of Derivative Assets, Derivative Liabilities, and Margin Deposits (Cash Collateral) (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Reconciliation of gross and net fair value of assets and liabilities subject to offsetting arrangements [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 674,702	$ 358,300
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	665,037	345,935
Derivative Liability, Fair Value, Gross Liability	564,364	412,809
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	545,398	396,890
Not Designated as Hedging Instrument | Commodity derivatives
Reconciliation of gross and net fair value of assets and liabilities subject to offsetting arrangements [Line Items]
Derivative Asset, Fair Value, Gross Asset	642,455	327,493
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	640,419	324,513
Derivative Liability, Fair Value, Gross Liability	519,909	343,343
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	508,572	336,809
Not Designated as Hedging Instrument | Foreign exchange derivatives
Reconciliation of gross and net fair value of assets and liabilities subject to offsetting arrangements [Line Items]
Derivative Asset, Fair Value, Gross Asset	16,684	11,809
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	9,055	2,424
Derivative Liability, Fair Value, Gross Liability	44,455	69,466
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	36,826	60,081
Not Designated as Hedging Instrument | Embedded Derivative Financial Instruments [Member]
Reconciliation of gross and net fair value of assets and liabilities subject to offsetting arrangements [Line Items]
Derivative Asset, Fair Value, Gross Asset	15,563	18,998
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	$ 15,563	$ 18,998

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Purchase and Sale Contracts (Details) - Not Designated as Hedging Instrument t in Thousands, T in Thousands, Bushels in Thousands, Barrels in Thousands	Nov. 30, 2020BarrelstTBushels	Aug. 31, 2020BarrelstTBushels
Grain and oilseed (bushels) | Long [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | Bushels	890,158	664,673
Grain and oilseed (bushels) | Short [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | Bushels	1,270,756	892,303
Energy products (barrels) | Long [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | Barrels	5,934	10,028
Energy products (barrels) | Short [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | Barrels	8,774	6,570
Processed grain and oilseed (tons) | Long [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	717	657
Processed grain and oilseed (tons) | Short [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	5,378	3,304
Crop nutrients (tons) | Long [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	35	74
Crop nutrients (tons) | Short [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount	147	127
Ocean Freight Contracts [Member] | Long [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | t	585	1,140
Ocean Freight Contracts [Member] | Short [Member]
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | t	0	95

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Derivatives (Details) $ in Thousands, bbl in Millions	3 Months Ended		12 Months Ended
	Nov. 30, 2020USD ($)bbl	Nov. 30, 2019USD ($)	Aug. 31, 2020USD ($)bbl
Derivative [Line Items]
Derivative Liability, Noncurrent	$ 3,900		$ 5,400
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	665,037		345,935
Derivative Asset, Fair Value, Gross Amount Not Offset on Balance Sheet	9,665		12,365
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	545,398		396,890
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	1,447		956
Derivative Liability, Fair Value, Gross Amount Not Offset on Balance Sheet	17,519		14,963
Embedded Derivative, Gain on Embedded Derivative	1,600	$ 1,600
Derivative Asset, Noncurrent, Excluding Fair Value Hedges	17,100		21,200
CF Nitrogen LLC [Member]
Derivative [Line Items]
Annual Payment Receivable Contingent On Investment Credit Rating	5,000
Embedded derivative asset	15,600
Foreign exchange derivatives | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	9,055		2,424
Derivative Asset, Fair Value, Gross Amount Not Offset on Balance Sheet	7,629		9,385
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	36,826		60,081
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	0		0
Derivative Liability, Fair Value, Gross Amount Not Offset on Balance Sheet	7,629		9,385
Derivative, Notional Amount	1,200,000		1,200,000
Embedded Derivative Financial Instruments [Member] | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	15,563		18,998
Derivative Asset, Fair Value, Gross Amount Not Offset on Balance Sheet	0		0
Commodity derivatives | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral	640,419		324,513
Derivative Asset, Fair Value, Gross Amount Not Offset on Balance Sheet	2,036		2,980
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	508,572		336,809
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	1,447		956
Derivative Liability, Fair Value, Gross Amount Not Offset on Balance Sheet	$ 9,890		$ 5,578
Cash Flow Hedging
Derivative [Line Items]
Aggregate notional amount of cash flow hedges (in barrels) | bbl	7.7		9.7

Derivative Financial Instrume_6

Derivative Financial Instruments and Hedging Activities - Pretax Gains (Losses) On Derivatives Not Accounted For As Hedging Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (176,549)	$ 35,825
Commodity derivatives | Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(201,362)	42,674
Foreign exchange derivatives | Cost of goods sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	22,641	(10,161)
Foreign exchange derivatives | Selling, General and Administrative Expenses [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	608	1,743
Embedded Derivative Financial Instruments [Member] | Other Income [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 1,564	$ 1,569

Derivative Financial Instrume_7

Derivative Financial Instruments and Hedging Activities - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Derivative [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 564,364	$ 412,809

Derivative Financial Instrume_8

Derivative Financial Instruments and Hedging Activities - Schedule of Derivative Instruments, Effect on Earnings (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 674,702	$ 358,300

Derivative Financial Instrume_9

Derivative Financial Instruments and Hedging Activities - Fair Value of Commodity Derivative Instruments (Details) - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 564,364	$ 412,809
Derivative Asset, Fair Value, Gross Asset	674,702	358,300
Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	2,313	8,821
Derivative Asset, Fair Value, Gross Asset	$ 29,518	$ 34,052

Derivative Financial Instrum_10

Derivative Financial Instruments and Hedging Activities - Commodity Derivatives (Details) - Commodity derivatives - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019
Cost of goods sold
Derivative [Line Items]
Pretax gains (losses) reclassified from AOCI related to cash flow hedges	$ 12,673	$ 4,852
Cash Flow Hedging
Derivative [Line Items]
Pretax gains (losses) recorded in OCI related to cash flow hedges	$ 1,974	$ (7,103)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Nov. 30, 2020	Aug. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	$ 38,826	$ 47,669
Embedded derivative asset	15,563	18,998
Securities Segregated under Other Regulations	185,001	85,950
Other assets	5,251	5,276
Total assets	933,249	530,961
Foreign exchange derivatives		69,467
Total liabilities	566,677	421,630
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	38,826	47,669
Embedded derivative asset	0	0
Securities Segregated under Other Regulations	185,001	85,950
Other assets	5,251	5,276
Total assets	231,112	144,657
Foreign exchange derivatives		0
Total liabilities	10,747	6,037
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	0	0
Embedded derivative asset	15,563	18,998
Securities Segregated under Other Regulations	0	0
Other assets	0	0
Total assets	702,137	386,304
Foreign exchange derivatives		69,467
Total liabilities	555,930	415,593
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	0	0
Embedded derivative asset	0	0
Securities Segregated under Other Regulations	0	0
Other assets	0	0
Total assets	0	0
Foreign exchange derivatives		0
Total liabilities	0	0
Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	671,973	361,545
Derivative Liability	522,222	352,163
Commodity derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	2,034	5,762
Derivative Liability	10,747	6,037
Commodity derivatives | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	669,939	355,783
Derivative Liability	511,475	346,126
Commodity derivatives | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0	0
Derivative Liability	0	0
Foreign exchange derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange derivatives	16,635	11,523
Foreign exchange derivatives	44,455
Foreign exchange derivatives | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange derivatives	0	0
Foreign exchange derivatives	0
Foreign exchange derivatives | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange derivatives	16,635	11,523
Foreign exchange derivatives	44,455
Foreign exchange derivatives | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign exchange derivatives	0	$ 0
Foreign exchange derivatives	$ 0

Commitments and Contingencies G

Commitments and Contingencies Guarantees (Details) $ in Millions	Nov. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantor obligations, maximum exposure, undiscounted	$ 140.4
Maximum guarantees allowed by bank covenants	$ 1,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Nov. 30, 2020	Nov. 30, 2019	Aug. 31, 2020
Leases [Abstract]
Finance Lease, Liability, Payments, Remainder of Fiscal Year	$ 5,755
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	48,395
Operating Lease, Payments	18,314	$ 15,722
Operating Lease, Right-of-Use Asset	251,968		$ 257,834
Operating Lease, Expense	17,914	16,480
Finance Lease, Right-of-Use Asset, Amortization	2,055	2,189
Finance Lease, Interest Expense	246	224
Short-term Lease, Cost	4,356	3,343
Variable Lease, Cost	678	116
Lease, Cost	25,249	22,352
Operating Lease, Liability	255,012		260,891
Finance Lease, Right-of-Use Asset	42,449		44,860
Finance Lease, Liability, Current	7,236		7,993
Operating Lease, Liability, Current	56,531		57,200
Finance Lease, Liability, Noncurrent	21,636		23,467
Finance Lease, Liability	$ 28,872		$ 31,460
Operating Lease, Weighted Average Remaining Lease Term	8 years 2 months 12 days		8 years 3 months 18 days
Finance Lease, Weighted Average Remaining Lease Term	6 years 2 months 12 days		6 years
Operating Lease, Weighted Average Discount Rate, Percent	3.10%		3.11%
Finance Lease, Weighted Average Discount Rate, Percent	3.41%		3.33%
Finance Lease, Interest Payment on Liability	$ 246	224
Finance Lease, Principal Payments	2,869	1,673
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	4,482	4,724
Finance Lease, Liability, Payments, Due Next Twelve Months	7,049
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	53,090
Finance Lease, Liability, Payments, Due Year Two	6,091
Lessee, Operating Lease, Liability, Payments, Due Year Two	42,893
Finance Lease, Liability, Payments, Due Year Three	3,482
Lessee, Operating Lease, Liability, Payments, Due Year Three	34,307
Finance Lease, Liability, Payments, Due Year Four	2,077
Lessee, Operating Lease, Liability, Payments, Due Year Four	24,945
Finance Lease, Liability, Payments, Due Year Five	8,076
Lessee, Operating Lease, Liability, Payments, Due Year Five	96,394
Finance Lease, Liability, Payment, Due	32,530
Lessee, Operating Lease, Liability, Payments, Due	300,024
Finance Lease, Liability, Undiscounted Excess Amount	3,658
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	45,012
Operating Lease, Liability, Noncurrent	198,481		$ 203,691
Right of use asset modification	$ 6,822	$ 0