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

6 Months Ended

Feb. 29, 2016

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 for accounting purposes. 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 29, 2016 and February 28, 2015. We have revised the information that we have historically included in this table below to correct for immaterial errors in the previously disclosed amounts. Although such gains and losses have been, and continue to be, appropriately recorded in the Consolidated Statements of Operations, the previous disclosures did not accurately reflect the derivative gains and losses in each period. These disclosure revisions did not materially impact our consolidated financial statements.



		For the Three Months Ended						For the Six Months Ended
	Location of Gain (Loss)	February 29, 2016			February 28, 2015			February 29, 2016			February 28, 2015
		(Dollars in thousands)
Commodity and freight derivatives	Cost of goods sold	$	54,971		$	38,861		$	90,017		$	112,544
Foreign exchange derivatives	Cost of goods sold	(10,481		)	6,118			(9,798		)	16,442
Foreign exchange derivatives	Marketing, general and administrative	7,605			(271		)	15,128			(8,252		)
Interest rate derivatives	Interest, net	(500		)	45			(1,203		)	74
Total		$	51,595		$	44,753		$	94,144		$	120,808

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

all outstanding commodity and freight contracts accounted for as derivative instruments.



	February 29, 2016		August 31, 2015
	Long	Short	Long	Short
	(Units in thousands)
Grain and oilseed - bushels	572,707	773,130	711,066	895,326
Energy products - barrels	15,990	8,665	17,238	11,676
Processed grain and oilseed - tons	725	1,995	706	2,741
Crop nutrients - tons	24	12	48	116
Ocean and barge freight - metric tons	3,687	2,159	5,916	1,962
Rail freight - rail cars	193	78	297	122
Natural gas - MMBtu	6,740	—	—	—

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



	August 31, 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	$	476,071	$	—	$	58,401	$	417,670
Foreign exchange derivatives	23,154		—		11,682		11,472
Interest rate derivatives - hedge	14,216		—		—		14,216
Total	$	513,441	$	—	$	70,083	$	443,358
Derivative Liabilities:
Commodity and freight derivatives	$	427,052	$	11,482	$	58,401	$	357,169
Foreign exchange derivatives	37,598		—		11,682		25,916
Interest rate derivatives - hedge	6,058		—		—		6,058
Interest rate derivatives - non-hedge	61		—		—		61
Total	$	470,769	$	11,482	$	70,083	$	389,204



	February 29, 2016
			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	$	384,185	$	—	$	29,619	$	354,566
Foreign exchange derivatives	23,971		—		12,668		11,303
Interest rate derivatives - hedge	23,695		—		—		23,695
Total	$	431,851	$	—	$	42,287	$	389,564
Derivative Liabilities:
Commodity and freight derivatives	$	261,710	$	17,589	$	29,619	$	214,502
Foreign exchange derivatives	22,041		—		12,668		9,373
Interest rate derivatives - hedge	3,718		—		—		3,718
Interest rate derivatives - non-hedge	19		—		—		19
Total	$	287,488	$	17,589	$	42,287	$	227,612

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 29, 2016 and February 28, 2015.



	For the Three Months Ended						For the Six Months Ended
	February 29, 2016			February 28, 2015			February 29, 2016			February 28, 2015
	(Dollars in thousands)
Interest rate derivatives	$	(3,252	)	$	(3,702	)	$	(10,070	)	$	(4,296	)

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 29, 2016 and February 28, 2015.



		For the Three Months Ended						For the Six Months Ended
	Location of Gain (Loss)	February 29, 2016			February 28, 2015			February 29, 2016			February 28, 2015
		(Dollars in thousands)
Interest rate derivatives	Interest income (expense)	$	(275	)	$	(199	)	$	(465	)	$	(402	)

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

During the six months ended February 29, 2016 and February 28, 2015, we recorded offsetting fair value adjustments of $11.5 million and $8.2 million, respectively, with no ineffectiveness recorded in earnings.