Inventories



	February 29, 2016		August 31, 2015
	(Dollars in thousands)
Grain and oilseed	$	1,035,399	$	966,923
Energy	681,554		785,116
Crop nutrients	360,869		369,105
Feed and farm supplies	841,505		465,744
Processed grain and oilseed	61,619		48,078
Other	18,757		17,378
Total inventories	$	2,999,703	$	2,652,344

As of February 29, 2016, we valued approximately 15% of inventories, primarily related to our Energy segment, using the lower of cost, determined on the LIFO method, or market (18% as of August 31, 2015). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $0.4 million and $68.1 million at February 29, 2016 and August 31, 2015, respectively. An actual valuation of inventory under the LIFO method can be made only at the end of each year based on the inventory levels and costs at that time. Interim LIFO calculations are based on management's estimates of expected year-end inventory levels and costs, and are subject to the final year-end LIFO inventory valuation. During the six months ended February 29, 2016, we recorded lower of cost or market valuation adjustments of $80.2 million to cost of goods sold to reduce the carrying value of our energy inventory.