Notes Payable and Long-Term Debt

6 Months Ended

Feb. 28, 2014




	February 28, 2014		August 31, 2013		February 28, 2013
	(Dollars in thousands)
Notes payable	$	648,102	$	521,864	$	419,536
CHS Capital notes payable	426,178		367,448		438,960
Total notes payable	$	1,074,280	$	889,312	$	858,496

On February 28, 2014, our primary committed line of credit was a five-year revolving facility with a committed amount of $2.5 billion. We had no amounts outstanding as of February 28, 2014, August 31, 2013 and February 28, 2013.

Interest, net for the three and six months ended February 28, 2014 and 2013 is as follows:



	For the Three Months Ended						For the Six Months Ended
	February 28, 2014			February 28, 2013			February 28, 2014			February 28, 2013
	(Dollars in thousands)
Interest expense	$	11,836		$	23,219		$	34,426		$	47,655
Interest-purchase of NCRA noncontrolling interests	21,273			33,991			32,397			80,687
Capitalized interest	(2,526		)	(2,694		)	(3,862		)	(5,596		)
Interest income	(1,594		)	(1,131		)	(3,187		)	(2,151		)
Interest, net	$	28,989		$	53,385		$	59,774		$	120,595

We terminated interest rate swaps and recorded a resulting $13.5 million gain as a reduction to interest expense in our consolidated statements of operations for the three and six months ended February 28, 2014. See Note 9, Derivative Financial Instruments and Hedging Activities for additional information.