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Property, Plant and Equipment (Notes)
6 Months Ended
Feb. 28, 2015
Plant, Property and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Property, Plant and Equipment

As of February 28, 2015 and August 31, 2014, total property, plant and equipment, net of accumulated depreciation and amortization, was $4.4 billion and $4.0 billion, respectively. The increase in fiscal 2015 is driven by an increase in construction in progress of $358.7 million related primarily to capital projects at our refineries and the fertilizer plant project discussed below.

In September 2014, our Board of Directors approved plans to construct a nitrogen fertilizer plant located in Spiritwood, North Dakota. We currently estimate the construction costs to be more than $3.0 billion, with the plant anticipated to be operational during calendar year 2018. As of February 28, 2015, we have capitalized approximately $68.4 million related to this project. As required by GAAP, we review long-lived assets for impairment when events or changes in circumstances, including significant changes in actual or expected operating results, indicate that the asset’s carrying value may not be recoverable.

Depreciation expense during the three and six months ended February 28, 2015 was $72.7 million and $143.2 million, respectively. Depreciation expense during the three and six months ended February 28, 2014 was $60.7 million and $120.1 million, respectively.