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Equities (Tables)

6 Months Ended

Feb. 28, 2022

Schedule of Accumulated Other Comprehensive Income (Loss)


	Pension and Other Postretirement Benefits		Cash Flow Hedges		Foreign Currency Translation Adjustment		Total
	(Dollars in thousands)
Balance as of August 31, 2021, net of tax	$	(141,385)	$	4,824	$	(79,830)	$	(216,391)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(83)		870		(9,983)		(9,196)
Amounts reclassified	5,064		(12,954)		—		(7,890)
Total other comprehensive income (loss), before tax	4,981		(12,084)		(9,983)		(17,086)
Tax effect	(1,213)		2,943		(62)		1,668
Other comprehensive income (loss), net of tax	3,768		(9,141)		(10,045)		(15,418)

Balance as of November 30, 2021, net of tax	(137,617)		(4,317)		(89,875)		(231,809)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	—		3,974		5,807		9,781
Amounts reclassified	6,056		(4,705)		—		1,351
Total other comprehensive income (loss), before tax	6,056		(731)		5,807		11,132
Tax effect	(1,475)		178		119		(1,178)
Other comprehensive income (loss), net of tax	4,581		(553)		5,926		9,954
Balance as of February 28, 2022, net of tax	$	(133,036)	$	(4,870)	$	(83,949)	$	(221,855)


	Pension and Other Postretirement Benefits		Cash Flow Hedges		Foreign Currency Translation Adjustment		Total
	(Dollars in thousands)
Balance as of August 31, 2020, net of tax	$	(159,680)	$	10,886	$	(85,130)	$	(233,924)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	(125)		14,506		3,629		18,010
Amounts reclassified	4,977		(12,284)		—		(7,307)
Total other comprehensive income, before tax	4,852		2,222		3,629		10,703
Tax effect	(1,207)		(553)		(26)		(1,786)
Other comprehensive income, net of tax	3,645		1,669		3,603		8,917
Balance as of November 30, 2020, net of tax	(156,035)		12,555		(81,527)		(225,007)
Other comprehensive income (loss), before tax:
Amounts before reclassifications	—		2,929		(587)		2,342
Amounts reclassified	5,151		(3,673)		—		1,478
Total other comprehensive income (loss), before tax	5,151		(744)		(587)		3,820
Tax effect	(1,282)		185		(174)		(1,271)
Other comprehensive income (loss), net of tax	3,869		(559)		(761)		2,549
Balance as of February 28, 2021, net of tax	$	(152,166)	$	11,996	$	(82,288)	$	(222,458)

Schedule of Stockholders Equity

Changes in equities for the six months ended February 28, 2022 and 2021, are as follows:


	Equity Certificates								Accumulated Other Comprehensive Loss
	Capital Equity Certificates		Nonpatronage Equity Certificates		Nonqualified Equity Certificates		Preferred Stock				Capital Reserves		Noncontrolling Interests		Total Equities
	(Dollars in thousands)
Balances, August 31, 2021	$	3,583,911	$	28,431	$	1,634,896	$	2,264,038	$	(216,391)	$	1,713,976	$	8,465	$	9,017,326
Reversal of prior year redemption estimates	12,221		—		—		—		—		—		—		12,221

Redemptions of equities	(9,824)		(318)		(2,079)		—		—		—		—		(12,221)
Preferred stock dividends	—		—		—		—		—		(84,334)		—		(84,334)
Other, net	(1,023)		17		(64)		—		—		1,393		(841)		(518)
Net income (loss)	—		—		—		—		—		451,961		(18)		451,943
Other comprehensive loss, net of tax	—		—		—		—		(15,418)		—		—		(15,418)
Estimated 2022 cash patronage refunds	—		—		—		—		—		(39,691)		—		(39,691)
Estimated 2022 equity redemptions	(79,382)		—		—		—		—		—		—		(79,382)
Balances, November 30, 2021	3,505,903		28,130		1,632,753		2,264,038		(231,809)		2,043,305		7,606		9,249,926
Reversal of prior year patronage and redemption estimates	5,264		—		(230,290)		—		—		260,120		—		35,094
Distribution of 2021 patronage refunds	—		—		231,371		—		—		(261,414)		—		(30,043)
Redemptions of equities	(4,228)		(20)		(1,016)		—		—		—		—		(5,264)
Preferred stock dividends	—		—		—		—		—		(42,167)		—		(42,167)
Other, net	(5)		—		—		—		—		50		(599)		(554)
Net income (loss)	—		—		—		—		—		219,000		(104)		218,896
Other comprehensive income, net of tax	—		—		—		—		9,954		—		—		9,954
Estimated 2022 cash patronage refunds	—		—		—		—		—		(22,466)		—		(22,466)
Estimated 2022 equity redemptions	(44,932)		—		—		—		—		—		—		(44,932)
Balances, February 28, 2022	$	3,462,002	$	28,110	$	1,632,818	$	2,264,038	$	(221,855)	$	2,196,428	$	6,903	$	9,368,444


	Equity Certificates								Accumulated Other Comprehensive Loss
	Capital Equity Certificates		Nonpatronage Equity Certificates		Nonqualified Equity Certificates		Preferred Stock				Capital Reserves		Noncontrolling Interests		Total Equities
	(Dollars in thousands)
Balances, August 31, 2020	$	3,724,187	$	28,727	$	1,408,696	$	2,264,038	$	(233,924)	$	1,618,147	$	9,302	$	8,819,173
Reversal of prior year redemption estimates	7,726		—		—		—		—		—		—		7,726

Redemptions of equities	(6,539)		(31)		(1,156)		—		—		—		—		(7,726)
Preferred stock dividends	—		—		—		—		—		(84,334)		—		(84,334)
Other, net	(654)		(47)		(197)		—		—		(7,798)		35		(8,661)
Net income (loss)	—		—		—		—		—		69,671		(302)		69,369
Other comprehensive income, net of tax	—		—		—		—		8,917		—		—		8,917
Estimated 2021 cash patronage refunds	—		—		—		—		—		(9,304)		—		(9,304)
Estimated 2021 equity redemptions	(9,304)		—		—		—		—		—		—		(9,304)
Balances, November 30, 2020	3,715,416		28,649		1,407,343		2,264,038		(225,007)		1,586,382		9,035		8,785,856
Reversal of prior year patronage and redemption estimates	4,760		—		(211,970)		—		—		233,345		—		26,135
Distribution of 2020 patronage refunds	—		—		214,720		—		—		(236,136)		—		(21,416)
Redemptions of equities	(4,177)		(35)		(548)		—		—		—		—		(4,760)
Preferred stock dividends	—		—		—		—		—		(42,167)		—		(42,167)
Other, net	(26)		—		(15)		—		—		1,068		(361)		666
Net loss	—		—		—		—		—		(38,229)		(129)		(38,358)
Other comprehensive income, net of tax	—		—		—		—		2,549		—		—		2,549
Estimated 2021 cash patronage refunds	—		—		—		—		—		5,639		—		5,639
Estimated 2021 equity redemptions	5,639		—		—		—		—		—		—		5,639
Balances, February 28, 2021	$	3,721,612	$	28,614	$	1,409,530	$	2,264,038	$	(222,458)	$	1,509,902	$	8,545	$	8,719,783

Preferred Stock [Text Block]

Preferred Stock Dividends

The following is a summary of dividends declared per share by series of preferred stock for the three and six months ended February 28, 2022 and 2021:


		Three Months Ended February 28,				Six Months Ended February 28,
	Nasdaq symbol	2022		2021		2022		2021
Series of preferred stock:		(Dollars per share)
8% Cumulative Redeemable	CHSCP	$	0.50	$	0.50	$	1.50	$	1.50
Class B Cumulative Redeemable, Series 1	CHSCO	$	0.49	$	0.49	$	1.48	$	1.48
Class B Reset Rate Cumulative Redeemable, Series 2	CHSCN	$	0.44	$	0.44	$	1.33	$	1.33
Class B Reset Rate Cumulative Redeemable, Series 3	CHSCM	$	0.42	$	0.42	$	1.27	$	1.27
Class B Cumulative Redeemable, Series 4	CHSCL	$	0.47	$	0.47	$	1.41	$	1.41

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details