Notes Payable and Long-Term Debt (Tables)

12 Months Ended

Aug. 31, 2021

Debt Disclosure [Abstract]

Schedule of notes payable

Notes payable as of August 31, 2021 and 2020, consisted of the following:

	Weighted-average Interest Rate
	2021	2020	2021		2020
			(Dollars in thousands)
Notes payable	1.18%	1.96%	$	864,147	$	763,215
CHS Capital notes payable	1.00%	1.29%	876,712		812,276
Total notes payable			$	1,740,859	$	1,575,491

Schedule of amounts included in long-term debt

Amounts included in long-term debt on our Consolidated Balance Sheets as of August 31, 2021 and 2020, are presented in the table below:

	2021		2020
	(Dollars in thousands)
4.00% unsecured notes $100 million face amount, due in equal installments beginning in fiscal 2017 through fiscal 2021	$	—	$	20,000
4.52% unsecured notes $160 million face amount, due in fiscal 2021	—		162,090
4.67% unsecured notes $130 million face amount, due in fiscal 2023	134,873		137,623
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	153,101		154,012
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
3.24% unsecured notes $95 million face amount, due in fiscal 2027	95,000		—
4.74% unsecured notes $95 million face amount, due in fiscal 2028	95,000		95,000
3.48% unsecured notes $100 million face amount, due in fiscal 2030	100,000		—
4.89% unsecured notes $100 million face amount, due in fiscal 2031	100,000		100,000
3.58% unsecured notes $65 million face amount, due in fiscal 2032	65,000		—
4.71% unsecured notes $100 million face amount, due in fiscal 2033	100,000		100,000
3.73% unsecured notes $115 million face amount, due in fiscal 2035	115,000		—
5.40% unsecured notes $125 million face amount, due in fiscal 2036	125,000		125,000
Private placement debt	1,552,974		1,363,725
2.25% unsecured term loans from cooperative and other banks, due in fiscal 2025 (a)	—		366,000
Bank financing	—		366,000
Finance lease liabilities	36,034		31,460
Other notes and contracts with interest rates from 2.6% to 9.0%	33,443		34,709
Deferred financing costs	(4,090)		(4,771)
Total long-term debt	1,618,361		1,791,123
Less current portion	38,450		189,287
Long-term portion	$	1,579,911	$	1,601,836

(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, 2021, 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)
2022	$	31,108
2023	282,860
2024	837
2025	330,549
2026	80,034
Thereafter	853,034
Total	$	1,578,422