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Notes Payable and Long-Term Debt
 6 Months Ended
Feb. 28, 2013
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt
Notes Payable and Long-Term Debt

 
 
 
 
 
 
 
February 28,
2013
 
August 31,
2012
 
February 29,
2012
Notes payable
$
419,536

 
$
269,783

 
$
182,661

CHS Capital notes payable
438,960

 
533,839

 
453,410

 
$
858,496

 
$
803,622

 
$
636,071


On February 28, 2013, we had two primary committed lines of credit. We had a three-year revolving facility and a five-year revolving facility, each with committed amounts of $1.25 billion, for a total of $2.5 billion. We had no amounts outstanding as of February 28, 2013, August 31, 2012 and February 29, 2012.

In March 2013, we issued $100 million of long-term notes with an interest rate of 4.71%, which matures in fiscal 2033. The carrying value of our long-term debt approximated its fair value, based on quoted market prices of similar debt (a Level 2 classification in the fair value hierarchy).

Interest, net for the three and six months ended February 28, 2013 and February 29, 2012 is as follows:
 
For the Three Months Ended
 
For the Six Months Ended
 
February 28, 2013
 
February 29, 2012
 
February 28, 2013
 
February 29, 2012
Interest expense
$
23,219

 
$
22,187

 
$
47,655

 
$
45,494

Interest-purchase of NCRA noncontrolling interests
33,991

 
15,856

 
80,687

 
15,856

Capitalized interest
(2,694
)
 
(1,903
)
 
(5,596
)
 
(3,709
)
Interest income
(1,131
)
 
(1,509
)
 
(2,151
)
 
(2,203
)
Interest, net
$
53,385

 
$
34,631

 
$
120,595

 
$
55,438