Restatement of Previously Issued Consolidated Financial Statements - Summary of Impacts of the Restatement Adjustments on Previously Reported Consolidated Statements of Operations (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2018 |
May 31, 2018 |
Feb. 28, 2018 |
Nov. 30, 2017 |
Aug. 31, 2017 |
May 31, 2017 |
Feb. 28, 2017 |
Nov. 30, 2016 |
Feb. 28, 2018 |
Feb. 28, 2017 |
May 31, 2018 |
May 31, 2017 |
Aug. 31, 2018 |
Aug. 31, 2017 |
Aug. 31, 2016 |
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Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | $ 8,583,982 | $ 9,087,328 | $ 6,980,153 | $ 8,031,884 | $ 7,996,339 | $ 8,638,410 | $ 7,400,773 | $ 8,001,904 | $ 15,012,037 | $ 15,402,677 | $ 24,099,365 | $ 24,041,087 | $ 32,683,347 | $ 32,037,426 | $ 30,355,260 |
Cost of goods sold | (8,192,620) | (8,841,361) | (6,844,849) | (7,711,057) | (7,904,713) | (8,417,264) | (7,165,265) | (7,655,524) | (14,555,906) | (14,820,789) | (23,397,267) | (23,238,053) | (31,589,887) | (31,142,766) | (29,386,515) |
Gross profit | 391,362 | 245,967 | 135,304 | 320,827 | 91,626 | 221,146 | 235,508 | 346,380 | 456,131 | 581,888 | 702,098 | 803,034 | 1,093,460 | 894,660 | 968,745 |
Marketing, general and administrative | 186,291 | 161,579 | 186,713 | 139,500 | 145,236 | 155,347 | 160,166 | 151,258 | 326,213 | 311,424 | 487,792 | 466,771 | 674,083 | 612,007 | 601,266 |
Reserve and impairment charges (recoveries), net | (18,765) | (3,811) | (11,346) | (3,787) | 39,170 | 326,779 | 72,373 | 18,357 | (15,133) | 90,730 | (18,944) | 417,509 | (37,709) | 456,679 | 75,036 |
Operating earnings (loss) | 223,836 | 88,199 | (40,063) | 185,114 | (92,780) | (260,980) | 2,969 | 176,765 | 145,051 | 179,734 | 233,250 | (81,246) | 457,086 | (174,026) | 292,443 |
(Gain) loss on disposal of business | (61) | (124,050) | (7,705) | 0 | 704 | (1,224) | (1,395) | 4,105 | (7,705) | 2,710 | (131,755) | 1,486 | (131,816) | 2,190 | 0 |
Interest expense | 18,984 | 49,340 | 40,176 | 40,702 | 53,828 | 39,201 | 39,945 | 38,265 | 80,878 | 78,210 | 130,218 | 117,411 | 149,202 | 171,239 | 113,704 |
Other (income) loss | (27,015) | (14,622) | (11,364) | (25,014) | (25,407) | (11,952) | (18,083) | (44,509) | (36,378) | (62,592) | (51,000) | (74,544) | (78,015) | (99,951) | (47,609) |
Equity (income) loss from investments | (16,404) | (59,308) | (39,441) | (38,362) | (12,817) | (48,393) | (35,800) | (40,328) | (77,803) | (76,128) | (137,111) | (124,521) | (153,515) | (137,338) | (175,777) |
Income (loss) before income taxes | 248,332 | 236,839 | (21,729) | 207,788 | (109,088) | (238,612) | 18,302 | 219,232 | 186,059 | 237,534 | 422,898 | (1,078) | 671,230 | (110,166) | 402,125 |
Income tax expense (benefit) | 7,787 | 55,219 | (187,688) | 20,606 | (34,761) | (166,124) | 3,685 | 16,076 | (167,082) | 19,761 | (111,863) | (146,363) | (104,076) | (181,124) | 19,099 |
Net income (loss) | 240,545 | 181,620 | 165,959 | 187,182 | (74,327) | (72,488) | 14,617 | 203,156 | 353,141 | 217,773 | 534,761 | 145,285 | 775,306 | 70,958 | 383,026 |
Net income (loss) attributable to noncontrolling interests | 98 | (187) | (48) | (464) | 123 | (955) | 406 | (208) | (512) | 198 | (699) | (757) | (601) | (634) | (223) |
Comprehensive income attributable to CHS Inc. | $ 240,447 | 181,807 | 166,007 | 187,646 | (74,450) | (71,533) | 14,211 | 203,364 | 353,653 | 217,575 | 535,460 | 146,042 | $ 775,907 | 71,592 | 383,249 |
As Previously Reported | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | 9,027,525 | 6,851,093 | 8,048,889 | 7,952,005 | 8,614,090 | 7,320,406 | 8,048,250 | 14,899,982 | 15,368,656 | 23,927,508 | 23,982,746 | 31,934,751 | 30,347,203 | ||
Cost of goods sold | (8,728,914) | (6,708,610) | (7,735,627) | (7,843,305) | (8,366,988) | (7,079,664) | (7,695,553) | (14,444,237) | (14,775,217) | (23,173,151) | (23,142,205) | (30,985,510) | (29,387,910) | ||
Gross profit | 298,611 | 142,483 | 313,262 | 108,700 | 247,102 | 240,742 | 352,697 | 455,745 | 593,439 | 754,357 | 840,541 | 949,241 | 959,293 | ||
Marketing, general and administrative | 161,578 | 186,716 | 140,168 | 144,528 | 153,498 | 157,862 | 147,849 | 326,881 | 305,711 | 488,459 | 459,831 | 604,359 | 601,261 | ||
Reserve and impairment charges (recoveries), net | (3,811) | (11,349) | (3,787) | 42,670 | 323,901 | 72,373 | 18,357 | (15,133) | 90,730 | (18,944) | 414,009 | 456,679 | 47,836 | ||
Operating earnings (loss) | 140,844 | (32,884) | 176,881 | (78,498) | (230,297) | 10,507 | 186,491 | 143,997 | 196,998 | 284,842 | (33,299) | (111,797) | 310,196 | ||
(Gain) loss on disposal of business | (124,050) | (7,705) | 0 | 0 | 0 | 0 | (7,705) | 0 | (131,755) | 0 | 0 | 0 | |||
Interest expense | 49,340 | 40,176 | 40,702 | 53,828 | 39,201 | 39,945 | 38,265 | 80,878 | 78,210 | 130,218 | 117,411 | 171,239 | 113,704 | ||
Other (income) loss | (14,622) | (11,364) | (25,014) | (24,664) | (11,947) | (17,235) | (37,000) | (36,378) | (54,235) | (51,000) | (66,183) | (90,846) | (47,609) | ||
Equity (income) loss from investments | (59,308) | (39,441) | (38,362) | (12,817) | (48,393) | (35,800) | (40,328) | (77,803) | (76,128) | (137,111) | (124,521) | (137,338) | (175,777) | ||
Income (loss) before income taxes | 289,484 | (14,550) | 199,555 | (94,845) | (209,158) | 23,597 | 225,554 | 185,005 | 249,151 | 474,490 | 39,994 | (54,852) | 419,878 | ||
Income tax expense (benefit) | 60,338 | (181,176) | 19,936 | (44,293) | (163,018) | 8,624 | 16,612 | (161,240) | 25,236 | (100,901) | (137,781) | (182,075) | (4,091) | ||
Net income (loss) | 229,146 | 166,626 | 179,619 | (50,552) | (46,140) | 14,973 | 208,942 | 346,245 | 223,915 | 575,391 | 177,775 | 127,223 | 423,969 | ||
Net income (loss) attributable to noncontrolling interests | (187) | (48) | (464) | 123 | (955) | 406 | (208) | (512) | 198 | (699) | (757) | (634) | (223) | ||
Comprehensive income attributable to CHS Inc. | 229,333 | 166,674 | 180,083 | (50,675) | (45,185) | 14,567 | 209,150 | 346,757 | 223,717 | 576,090 | 178,532 | 127,857 | 424,192 | ||
Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | 59,803 | 129,060 | (17,005) | 44,334 | 24,320 | 80,367 | (46,346) | 112,055 | 34,021 | 171,857 | 58,341 | 102,675 | 8,057 | ||
Cost of goods sold | (112,447) | (136,239) | 24,570 | (61,408) | (50,276) | (85,601) | 40,029 | (111,669) | (45,572) | (224,116) | (95,848) | (157,256) | 1,395 | ||
Gross profit | (52,644) | (7,179) | 7,565 | (17,074) | (25,956) | (5,234) | (6,317) | 386 | (11,551) | (52,259) | (37,507) | (54,581) | 9,452 | ||
Marketing, general and administrative | 1 | (3) | (668) | 708 | 1,849 | 2,304 | 3,409 | (668) | 5,713 | (667) | 6,940 | 7,648 | 5 | ||
Reserve and impairment charges (recoveries), net | 0 | 3 | 0 | (3,500) | 2,878 | 0 | 0 | 0 | 0 | 0 | 3,500 | 0 | 27,200 | ||
Operating earnings (loss) | (52,645) | (7,179) | 8,233 | (14,282) | (30,683) | (7,538) | (9,726) | 1,054 | (17,264) | (51,592) | (47,947) | (62,229) | (17,753) | ||
(Gain) loss on disposal of business | 0 | 0 | 704 | (1,224) | (1,395) | 4,105 | 0 | 2,710 | 0 | 1,486 | 2,190 | 0 | |||
Interest expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other (income) loss | 0 | 0 | 0 | (743) | (5) | (848) | (7,509) | 0 | (8,357) | 0 | (8,361) | (9,105) | 0 | ||
Equity (income) loss from investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Income (loss) before income taxes | (52,645) | (7,179) | 8,233 | (14,243) | (29,454) | (5,295) | (6,322) | 1,054 | (11,617) | (51,592) | (41,072) | (55,314) | (17,753) | ||
Income tax expense (benefit) | (5,119) | (6,512) | 670 | 9,532 | (3,106) | (4,939) | (536) | (5,842) | (5,475) | (10,962) | (8,582) | 951 | 23,190 | ||
Net income (loss) | (47,526) | (667) | 7,563 | (23,775) | (26,348) | (356) | (5,786) | 6,896 | (6,142) | (40,630) | (32,490) | (56,265) | (40,943) | ||
Net income (loss) attributable to noncontrolling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Comprehensive income attributable to CHS Inc. | (47,526) | (667) | 7,563 | (23,775) | (26,348) | (356) | (5,786) | 6,896 | (6,142) | (40,630) | (32,490) | (56,265) | (40,943) | ||
Freight Derivatives and Related Misstatements | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | 2,900 | (3,700) | (1,100) | 1,900 | 700 | (2,900) | |||||||||
Cost of goods sold | (29,800) | (22,500) | (500) | (14,900) | (22,200) | 900 | (1,900) | (23,000) | (1,000) | (52,900) | (23,200) | (38,100) | (15,700) | ||
Income (loss) before income taxes | (29,800) | (22,500) | (500) | (12,000) | (25,900) | (300) | 100 | (23,000) | (200) | (52,900) | (26,200) | (38,100) | (15,700) | ||
Income tax expense (benefit) | (5,100) | 100 | 700 | 13,300 | (3,100) | (500) | (600) | 800 | (1,000) | (4,400) | (4,100) | 9,200 | (5,800) | ||
Net income (loss) | (24,700) | (22,600) | (1,200) | (25,200) | (22,800) | 200 | 600 | (23,800) | 800 | (48,500) | (22,100) | (47,300) | (9,900) | ||
Intercompany Misstatements | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | 38,800 | 161,500 | (11,400) | (7,700) | (77,300) | 150,200 | 189,000 | (28,000) | (35,700) | (57,500) | |||||
Cost of goods sold | (38,800) | (161,500) | (11,400) | 7,700 | 9,600 | 58,900 | 77,300 | (150,200) | 18,400 | (189,000) | 28,000 | 35,700 | 57,500 | ||
Other Misstatements | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | (28,000) | (9,600) | 58,900 | 29,100 | (18,400) | ||||||||||
Cost of goods sold | (18,800) | 1,600 | (5,600) | (29,100) | (12,100) | ||||||||||
Marketing, general and administrative | 3,400 | ||||||||||||||
Reserve and impairment charges (recoveries), net | (3,500) | 3,500 | 3,500 | ||||||||||||
(Gain) loss on disposal of business | 4,100 | ||||||||||||||
Other (income) loss | (7,500) | ||||||||||||||
Income (loss) before income taxes | (22,800) | 15,300 | 8,800 | (2,300) | (3,600) | (5,000) | (6,400) | 24,100 | (11,400) | 1,300 | (14,900) | (17,200) | (2,100) | ||
Income tax expense (benefit) | (6,600) | (3,700) | (4,500) | (6,600) | (4,500) | (6,600) | (4,500) | (8,200) | 29,000 | ||||||
Net income (loss) | (22,800) | $ 21,900 | 8,800 | 1,400 | $ (3,600) | (600) | $ (6,400) | 30,700 | (6,900) | 7,900 | (10,400) | (9,000) | (31,000) | ||
Other Misstatements, Reclassification, Unit Of Measure Assumption Adjustment | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Cost of goods sold | (12,100) | (1,700) | |||||||||||||
Other Misstatements, Reclassification, Application Of Accounting Policies | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Revenues | 138,400 | 65,600 | |||||||||||||
Cost of goods sold | (138,300) | (38,400) | |||||||||||||
Marketing, general and administrative | 7,000 | ||||||||||||||
Reserve and impairment charges (recoveries), net | 27,200 | ||||||||||||||
(Gain) loss on disposal of business | (2,200) | ||||||||||||||
Other (income) loss | (9,100) | ||||||||||||||
Other Misstatements, Valuation of Derivatives | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Cost of goods sold | $ (1,300) | 6,200 | $ (3,200) | $ 600 | 7,900 | $ 700 | 6,600 | $ 700 | (2,500) | $ (400) | |||||
Other Misstatements, Postretirement Benefit Plan Activity | Restatement Adjustments | |||||||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||||||
Cost of goods sold | $ 2,600 | $ (2,600) | $ 2,600 | ||||||||||||
Cost of goods and services sold and selling, general, and administrative expense | $ 2,600 |