Investments



	February 28, 2018		August 31, 2017
	(Dollars in thousands)
Equity method investments:
CF Industries Nitrogen, LLC	$	2,751,166	$	2,756,076
Ventura Foods, LLC	353,079		347,016
Ardent Mills, LLC	211,017		206,529
TEMCO, LLC	37,583		41,323
Other equity method investments	265,288		268,444
Cost method investments	134,743		131,605
Total investments	$	3,752,876	$	3,750,993

Equity Method Investments

Joint ventures and other investments, in which we have significant ownership and influence, but not control, are accounted for in our consolidated financial statements using the equity method of accounting. Our primary equity method investments are described below.

On February 1, 2016, we invested $2.8 billion in CF Industries Nitrogen, LLC ("CF Nitrogen"), commencing our strategic venture with CF Industries Holdings, Inc. ("CF Industries"). The investment consists of an 11.4% membership interest (based on product tons) in CF Nitrogen. We account for this investment using the hypothetical liquidation at book value method, recognizing our share of the earnings and losses of CF Nitrogen based upon our contractual claims on the entity's net assets pursuant to the liquidation provisions of CF Nitrogen's limited liability company agreement, adjusted for the semi-annual cash distributions we receive as a result of our membership interest in CF Nitrogen. For the three months ended February 28, 2018, and 2017, this amount was $24.0 million and $21.6 million, respectively. For the six months ended February 28, 2018, and 2017, this amount was $44.3 million and $36.3 million, respectively. These amounts are included as equity income from investments in our Nitrogen Production segment.

We have a 50% interest in Ventura Foods, a joint venture which produces and distributes primarily vegetable oil-based products. We account for Ventura Foods as an equity method investment, and as of February 28, 2018, our carrying value of Ventura Foods exceeded our share of its equity by $12.9 million, which represents equity method goodwill. The earnings are reported as equity income from investments in Corporate and Other.

We have a 12% interest in Ardent Mills, LLC ("Ardent Mills"), a joint venture with Cargill Incorporated ("Cargill") and ConAgra Foods, Inc., which combines the North American flour milling operations of the three parent companies. We account for Ardent Mills as an equity method investment included in Corporate and Other.

TEMCO, LLC ("TEMCO") is owned and governed by Cargill (50%) and CHS (50%). Both owners have committed to sell all of their feedgrains, wheat, oilseeds and by-product origination that are tributary to the Pacific Northwest, United States ("Pacific Northwest") to TEMCO and to use TEMCO as their exclusive export-marketing vehicle for such grains exported through the Pacific Northwest through January 2037. We account for TEMCO as an equity method investment included in our Ag segment.

The following table provides aggregate summarized unaudited financial information for our equity method investment in CF Nitrogen for the six months ended February 28, 2018, and 2017:



	For the Six Months Ended February 28,
	2018		2017
	(Dollars in thousands)
Net sales	$	1,084,270	$	1,024,409
Gross profit	135,649		125,966
Net earnings	128,803		87,798
Earnings attributable to CHS Inc.	44,347		36,253