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Correction of immaterial errors (Notes)
 6 Months Ended
Feb. 29, 2016
Accounting Changes and Error Corrections [Abstract]  
Accounting Changes and Error Corrections [Text Block]
Correction of Immaterial Errors

Lease Accounting

We lease rail cars, equipment, vehicles and other assets under noncancelable lease agreements for use in our agricultural and transportation operations in our Energy and Ag segments. During the fourth quarter of fiscal 2015, we determined that we had historically applied the accounting principles of ASC Topic 840, Leases, incorrectly by accounting for all of our lease arrangements as operating leases. We subsequently determined that certain of our leases met, at lease inception, one or more of the ASC 840-10-25-1 criteria that require a lease to be classified and accounted for as a capital lease. Consequently, prior period amounts in the financial statements, notes thereto and related disclosures have been revised to adjust for these errors.

Statement of Cash Flows Presentation

During the fourth quarter of fiscal 2015, we determined that our historical presentation of cash flows related to the acquisition of property, plant and equipment and expenditures for major repairs was incorrect. Amounts presented as cash outflows in prior periods included acquisitions of assets for which cash had not yet been paid, resulting in misstatements of both investing and operating cash flows. We have revised prior period amounts in the financial statements, notes thereto and related disclosures to correct these errors.

Materiality Assessment

We assessed the materiality of the misstatements described above on prior period financial statements in accordance with SEC Staff Accounting Bulletin ("SAB") No. 99, Materiality, codified in ASC 250-10, Accounting Changes and Error Corrections ("ASC 250"), and concluded these misstatements were not material to any prior annual or interim periods. Accordingly, in accordance with ASC 250 (SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements), our consolidated financial statements as of and for the three and six months ended February 28, 2015, which are presented herein, have been revised. The following are selected line items from our consolidated financial statements illustrating the effects of these revisions:

 
CONSOLIDATED STATEMENTS OF OPERATIONS
 
For the Three Months Ended
 
For the Six Months Ended
 
February 28, 2015
 
February 28, 2015
 
As Previously Reported
 
Revision
 
As Revised
 
As Previously Reported
 
Revision
 
As Revised
 
(Dollars in thousands)
Cost of goods sold
$
8,111,365

 
$
(1,281
)
 
$
8,110,084

 
$
17,020,110

 
$
(2,586
)
 
$
17,017,524

Gross profit
244,363

 
1,281

 
245,644

 
835,086

 
2,586

 
837,672

Operating earnings
73,588

 
1,281

 
74,869

 
502,343

 
2,586

 
504,929

Interest expense, net
9,490

 
1,281

 
10,771

 
30,091

 
2,586

 
32,677

Income before income taxes
90,466

 
—

 
90,466

 
526,124

 
—

 
526,124


 
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
 
For the Six Months Ended
 
 
February 28, 2015
 
 
As Previously Reported
 
Revision
 
As Revised
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
Depreciation and amortization
 
$
148,784

 
$
19,522

 
$
168,306

Changes in operating assets and liabilities, excluding the effects of acquisitions:
 
 
 
 
 
 
Accounts payable and accrued expenses
 
(666,428
)
 
36,578

 
(629,850
)
Net cash provided by (used in) operating activities
 
(558,276
)
 
56,100

 
(502,176
)
Cash flows from investing activities:
 
 
 
 
 
 
Acquisition of property, plant and equipment
 
(512,510
)
 
(37,420
)
 
(549,930
)
Expenditures for major repairs
 
(8,347
)
 
842

 
(7,505
)
Net cash provided by (used in) investing activities
 
(870,222
)
 
(36,578
)
 
(906,800
)
Cash flows from financing activities:
 
 
 
 
 
 
Principal payments on capital lease obligations (1)
 
—

 
(20,191
)
 
(20,191
)
Other financing activities, net
 
(282
)
 
302

 
20

Net cash provided by (used in) financing activities
 
554,910

 
(19,522
)
 
535,388


(1) Principal payments on capital lease obligations are now included as part of the "Payments on lines of credit, long-term debt and capital lease obligations" line item on our Consolidated Statements of Cash Flows.