Notes Payable and Long-Term Debt

6 Months Ended

Feb. 28, 2018

Our notes payable and long-term debt are subject to various restrictive requirements for maintenance of minimum consolidated net worth and other financial ratios. We were in compliance with our debt covenants as of February 28, 2018.



	February 28, 2018		August 31, 2017
	(Dollars in thousands)
Notes payable	$	2,844,803	$	1,695,423
CHS Capital notes payable	148,653		292,792
Total notes payable	$	2,993,456	$	1,988,215

On February 28, 2018, our primary line of credit was a five-year, unsecured revolving credit facility with a committed amount of $3.0 billion which expires in September 2020. The outstanding balance on this facility increased to $1.7 billion at February 28, 2018, from $480.0 million at August 31, 2017, due to the seasonal nature of our business operations.

Interest expense for the three months ended February 28, 2018, and 2017, was $40.2 million and $39.9 million, respectively, net of capitalized interest of $1.3 million and $1.5 million, respectively. Interest expense for the six months ended February 28, 2018, and 2017, was $80.9 million and $78.2 million respectively, net of capitalized interest of $3.1 million and $3.1 million, respectively.