Derivative Financial Instruments and Hedging Activities Derivative Financial Insturments and Hedging Activities (Tables)

6 Months Ended

Feb. 28, 2015

Derivative Instruments, Gain (Loss) [Line Items]

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

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 Consolidated Statements of Operations for the three and six months ended February 28, 2015 and 2014.



		For the Three Months Ended February 28,						For the Six Months Ended February 28,
	Location of Gain (Loss)	2015			2014			2015			2014
		(Dollars in thousands)
Commodity and freight derivatives	Cost of goods sold	$	208,794		$	81,210		$	212,793		$	61,421
Foreign exchange derivatives	Cost of goods sold	(12,525		)	(1,581		)	(10,114		)	(2,003		)
Interest rate derivatives	Interest, net	45			52			74			51
Total		$	196,314		$	79,681		$	202,753		$	59,469

Schedule of Derivative Instruments, Purchase and Sales Contracts [Table Text Block]

As of February 28, 2015 and August 31, 2014, we had the following outstanding purchase and sales contracts:



	February 28, 2015		August 31, 2014
	Purchase Contracts	Sales Contracts	Purchase Contracts	Sales Contracts
	(Units in thousands)
Grain and oilseed - bushels	716,952	1,380,157	665,690	938,140
Energy products - barrels	57,686	55,030	27,754	50,450
Soy products - tons	4,192	3,660	37	1,212
Crop nutrients - tons	134	3,091	1,613	1,607
Ocean and barge freight - metric tons	5,006	3,308	5,423	4,005
Rail freight - rail cars	202	117	321	186
Livestock - pounds	21,320	200	—	46,280

Reconciliation of gross and net fair values of assets and liabilities subject to offsetting arrangements [Table Text Block]



	August 31, 2014
			Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
	Gross Amounts Recognized		Cash Collateral		Derivative Instruments		Net Amounts
	(Dollars in thousands)
Derivative Assets:
Commodity and freight derivatives	$	597,210	$	—	$	42,229	$	554,981
Foreign exchange derivatives	2,523		—		1,174		1,349
Interest rate derivatives - hedge	4,200		—		—		4,200
Total	$	603,933	$	—	$	43,403	$	560,530
Derivative Liabilities:
Commodity and freight derivatives	$	597,612	$	2,504	$	42,229	$	552,879
Foreign exchange derivatives	2,248		—		1,174		1,074
Interest rate derivatives - non-hedge	130		—		—		130
Total	$	599,990	$	2,504	$	43,403	$	554,083



	February 28, 2015
			Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
	Gross Amounts Recognized		Cash Collateral		Derivative Instruments		Net Amounts
	(Dollars in thousands)
Derivative Assets:
Commodity and freight derivatives	$	595,994	$	—	$	131,627	$	464,367
Foreign exchange derivatives	5,620		—		787		4,833
Interest rate derivatives - hedge	12,390		—		—		12,390
Total	$	614,004	$	—	$	132,414	$	481,590
Derivative Liabilities:
Commodity and freight derivatives	$	464,985	$	1,279	$	131,627	$	332,079
Foreign exchange derivatives	13,215		—		787		12,428
Interest rate derivatives - hedge	4,296		—		—		4,296
Interest rate derivatives - non-hedge	94		—		—		94
Total	$	482,590	$	1,279	$	132,414	$	348,897

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the three and six months ended February 28, 2015 and 2014.



	For the Three Months Ended February 28,						For the Six Months Ended February 28,
	2015			2014			2015			2014
	(Dollars in thousands)
Interest rate derivatives	$	(3,702	)	$	(5,299	)	$	(4,296	)	$	(10,580	)

The following table presents the pretax gains (losses) relating to cash flow hedges that were reclassified from accumulated other comprehensive loss into income for the three and six months ended February 28, 2015 and 2014.



		For the Three Months Ended February 28,					For the Six Months Ended February 28,
	Location of Gain (Loss)	2015			2014		2015			2014
		(Dollars in thousands)
Interest rate derivatives	Interest income (expense)	$	(199	)	$	13,360	$	(402	)	$	13,143

Schedule of Derivative Instruments, Gain (Loss) in Consolidated Statements of Operations

During the six months ended February 28, 2015, we recorded offsetting fair value adjustments of $8.2 million, with no ineffectiveness recorded in earnings.