Benefit Plans (Tables)

12 Months Ended

Aug. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Schedule of defined benefit plans disclosures

Financial information on changes in benefit obligation and plan assets funded and balance sheets status as of August 31, 2013 and 2012 is as follows:

	Qualified Pension Benefits						Non-Qualified Pension Benefits						Other Benefits
	2013			2012			2013			2012			2013			2012
	(Dollars in thousands)
Change in benefit obligation:
Benefit obligation at beginning of period	$	671,066		$	501,053		$	34,470		$	29,728		$	64,189		$	56,864
Service cost	31,387			26,010			721			279			2,936			2,556
Interest cost	25,445			24,119			1,316			1,343			2,275			2,638
Transfers in from Agriliance Employee Retirement Plan				84,498
Actuarial loss (gain)	12,819			982			3,455			2,498			(5,243		)	(1,997		)
Assumption change	(64,483		)	62,755			(1,952		)	1,956			(16,693		)	6,437
Plan amendments																(899		)
Medicare D													92			625
Benefits paid	(34,950		)	(28,351		)	(1,785		)	(1,334		)	(2,014		)	(2,035		)
Benefit obligation at end of period	$	641,284		$	671,066		$	36,225		$	34,470		$	45,542		$	64,189
Change in plan assets:
Fair value of plan assets at beginning of period	$	688,196		$	540,822		$	—		$	—		$	—		$	—
Actual gain on plan assets	53,582			50,515
Company contributions	23,800			28,000			1,785			1,334			2,014			2,035
Transfers in from Agriliance Employee Retirement Plan				97,210
Benefits paid	(34,950		)	(28,351		)	(1,785		)	(1,334		)	(2,014		)	(2,035		)
Fair value of plan assets at end of period	$	730,628		$	688,196		$	—		$	—		$	—		$	—
Funded status at end of period	$	89,344		$	17,130		$	(36,225	)	$	(34,470	)	$	(45,542	)	$	(64,189	)
Amounts recognized on balance sheet:
Non-current assets	$	89,930		$	17,695
Accrued benefit cost:
Current liabilities							$	(3,051	)	$	(3,325	)	$	(2,919	)	$	(3,297	)
Non-current liabilities	(586		)	(565		)	(33,174		)	(31,145		)	(42,623		)	(60,892		)
Ending balance	$	89,344		$	17,130		$	(36,225	)	$	(34,470	)	$	(45,542	)	$	(64,189	)
Amounts recognized in accumulated other comprehensive loss (pretax):
Net transition obligation																$	563
Prior service cost (credit)	$	7,794		$	9,392		$	1,088		$	1,316		$	(712	)	(17		)
Net loss (gain)	253,288			331,420			10,685			10,104			(5,415		)	683
Ending balance	$	261,082		$	340,812		$	11,773		$	11,420		$	(6,127	)	$	1,229

Schedule of net benefit costs of assumptions used

Components of net periodic benefit costs for the years ended August 31, 2013, 2012 and 2011 are as follows:

	Qualified Pension Benefits									Non-Qualified Pension Benefits									Other Benefits
	2013			2012			2011			2013			2012			2011			2013			2012			2011
	(Dollars in thousands)
Components of net periodic benefit costs:
Service cost	$	31,387		$	26,010		$	25,232		$	721		$	279		$	1,246		$	2,936		$	2,556		$	1,771
Interest cost	25,445			24,119			22,257			1,316			1,343			1,933			2,275			2,638			2,194
Expected return on assets	(49,728		)	(40,904		)	(41,770		)
Settlement of retiree obligations																4,735
Prior service cost (credit) amortization	1,597			1,831			2,327			228			228			141			(120		)	(104		)	(122		)
Actuarial loss amortization	22,615			15,131			16,090			921			428			967			1,104			891			513
Transition amount amortization																			562			936			935
Net periodic benefit cost	$	31,316		$	26,187		$	24,136		$	3,186		$	2,278		$	9,022		$	6,757		$	6,917		$	5,291
Weighted-average assumptions to determine the net periodic benefit cost:
Discount rate	3.80		%	5.00		%	4.75		%	4.25		%	5.00		%	4.75		%	3.75		%	4.75		%	4.75		%
Expected return on plan assets	7.25		%	7.25		%	7.75		%	N/A			N/A			N/A			N/A			N/A			N/A
Rate of compensation increase	4.50		%	4.50		%	4.50		%	4.75		%	4.75		%	4.75		%	4.50		%	4.50		%	4.50		%
Weighted-average assumptions to determine the benefit obligations:
Discount rate	4.80		%	3.80		%	5.00		%	4.50		%	4.00		%	5.00		%	3.75		%	3.75		%	4.75		%
Rate of compensation increase	4.85		%	4.50		%	4.50		%	4.75		%	4.75		%	4.50		%	4.50		%	4.50		%	4.50		%

Schedule of amounts in accumulated other comprehensive income (loss) to be recognized over next fiscal year

The estimated amortization in fiscal 2014 from accumulated other comprehensive loss into net periodic benefit cost is as follows:

	Qualified Pension Benefits		Non-Qualified Pension Benefits		Other Benefits
	(Dollars in thousands)
Amortization of prior service cost (benefit)	$	1,597	$	229	$	(120	)
Amortization of net actuarial loss (gain)	18,576		951		(374		)

Schedule of effect of one-percentage-point change in assumed health care cost trend rates

A one-percentage point change in the assumed health care cost trend rates would have the following effects:

	1% Increase		1% Decrease
	(Dollars in thousands)
Effect on total of service and interest cost components	$	700	$	(580	)
Effect on postretirement benefit obligation	5,300		(4,700		)

Schedule of expected benefit payments

retiree benefit payments which reflect expected future service are anticipated to be paid as follows:

	Qualified Pension Benefits		Non-Qualified Pension Benefits		Other Benefits
					Gross		Medicare D
	(Dollars in thousands)
2014	$	33,704	$	3,051	$	2,919	$	200
2015	42,350		896		3,107		200
2016	45,894		799		3,382		200
2017	47,406		4,609		3,405		200
2018	49,812		2,628		3,555		200
2019-2023	282,842		18,637		19,329		800

Schedule of defined benefit plans, fair value disclosure

pension plans’ fair value measurements at August 31, 2013 and 2012 are as follows:

	2013
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Cash and cash equivalents	$	667					$	667
Equities:
Mutual funds	113,982		80,619				194,601
Fixed income securities:
Mutual funds	75,729		409,996		$	1,940	487,665
Partnership and joint venture interests			26,014		3,403		29,417
Real estate funds					18,156		18,156
Hedge funds					122		122
Total	$	190,378	$	516,629	$	23,621	$	730,628

	2012
	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Cash and cash equivalents	$	2,588	$	21,380			$	23,968
Equities:
Mutual funds	115,515		289,286				404,801
Fixed income securities:
Mutual funds	76,795		164,380		$	1,868	243,043
Real estate funds					16,257		16,257
Hedge funds					127		127
Total	$	194,898	$	475,046	$	18,252	$	688,196

Schedule of changes in fair value of plan assets

The following tables set forth a summary of changes in the fair value of the plan’s Level 3 assets for the years ended August 31, 2013 and 2012:

	2013
	Mutual Funds			Partnership and Joint Venture Interests		Real Estate Funds			Hedge Funds			Total
	(Dollars in thousands)
Balances at beginning of period	$	1,868				$	16,257		$	127		$	18,252
Unrealized gains (losses)	(4		)			1,894			7			1,897
Realized gains (losses)	82					(10		)				72
Sales	(12		)						(12		)	(24		)
Purchases				$	3,403	15						3,418
Transfers into level 3	6											6
Total	$	1,940		$	3,403	$	18,156		$	122		$	23,621

	2012
	Mutual Funds			Real Estate Funds			Hedge Funds			Total
	(Dollars in thousands)
Balances at beginning of period				$	14,522		$	191		$	14,713
Unrealized gains (losses)	$	48		1,763			(68		)	1,743
Realized gains (losses)	90			(48		)				42
Sales	(8		)	(2		)				(10		)
Purchases				22			4			26
Transfers into level 3	1,738									1,738
Total	$	1,868		$	16,257		$	127		$	18,252

Schedule of multiemployer plans

participation in the Co-op Plan for the years ended August 31, 2013, 2012, and 2011 is outlined in the table below:

		Contributions of CHS
		(Dollars in thousands)
Plan Name	EIN/Plan Number	2013		2012		2011		Surcharge Imposed	Expiration Date of Collective Bargaining Agreement
Co-op Retirement Plan	01-0689331 / 001	$	2,095	$	1,885	$	1,279	N/A	N/A