Notes Payable and Long-Term Debt (Tables)

12 Months Ended

Aug. 31, 2020

Debt Disclosure [Abstract]

Schedule of notes payable

Notes payable as of August 31, 2020 and 2019, consisted of the following:

	Weighted-average Interest Rate
	2020	2019	2020		2019
			(Dollars in thousands)
Notes payable	1.96%	3.36%	$	763,215	$	1,330,550
CHS Capital notes payable	1.29%	2.90%	812,276		825,558
Total notes payable			$	1,575,491	$	2,156,108

Summary of primary lines of credit

The following table summarizes our primary lines of credit as of August 31, 2020 and 2019:

Primary Revolving Credit Facilities	Fiscal Year of Maturity	Total Capacity		Borrowings Outstanding				Interest Rates
		2020		2020		2019
		(Dollars in thousands)
Committed five-year unsecured facility	2024	$	2,750,000	$	345,000	$	335,000	LIBOR or base rate +0.00% to 1.55%
Uncommitted bilateral facilities*	2021	300,000		—		430,000		LIBOR or base rate + applicable margin

Schedule of amounts included in long-term debt

Amounts included in long-term debt on our Consolidated Balance Sheets as of August 31, 2020 and 2019, are presented in the table below.

	2020		2019
	(Dollars in thousands)
4.00% unsecured notes $100 million face amount, due in equal installments beginning in fiscal 2017 through fiscal 2021	$	20,000	$	40,000
4.52% unsecured notes $160 million face amount, due in fiscal 2021	162,090		161,978
4.67% unsecured notes $130 million face amount, due in fiscal 2023	137,623		136,086
4.39% unsecured notes $152 million face amount, due in fiscal 2023	152,000		152,000
3.85% unsecured notes $80 million face amount, due in fiscal 2025	80,000		80,000
3.80% unsecured notes $100 million face amount, due in fiscal 2025	100,000		100,000
4.58% unsecured notes $150 million face amount, due in fiscal 2025	154,012		151,776
4.82% unsecured notes $80 million face amount, due in fiscal 2026	80,000		80,000
4.69% unsecured notes $58 million face amount, due in fiscal 2027	58,000		58,000
4.74% unsecured notes $95 million face amount, due in fiscal 2028	95,000		95,000
4.89% unsecured notes $100 million face amount, due in fiscal 2031	100,000		100,000
4.71% unsecured notes $100 million face amount, due in fiscal 2033	100,000		100,000
5.40% unsecured notes $125 million face amount, due in fiscal 2036	125,000		125,000
Private placement debt	1,363,725		1,379,840
2.25% unsecured term loans from cooperative and other banks, due in fiscal 2025 (a)	366,000		366,000
Bank financing	366,000		366,000
Finance lease liabilities	31,460		28,239
Other notes and contracts with interest rates from 0.0% to 10.0%	34,709		18,601
Deferred financing costs	(4,771)		(3,569)
Total long-term debt	1,791,123		1,789,111
Less current portion	189,287		39,210
Long-term portion	$	1,601,836	$	1,749,901

(a) Borrowings are variable under the agreement and bear interest at a base rate (or LIBOR) plus an applicable margin.

Schedule of minimum future payments

Long-term debt outstanding as of August 31, 2020, has aggregate maturities, excluding fair value adjustments and finance leases (see Note 19, Leases, for a schedule of minimum future lease payments under finance leases), as follows:

	(Dollars in thousands)
2021	$	181,628
2022	30,828
2023	282,828
2024	780
2025	696,780
Thereafter	558,103
Total	$	1,750,947