Segment Reporting (Tables)

12 Months Ended

Aug. 31, 2023

Segment information for the years ended August 31, 2023, 2022 and 2021, is presented in the tables below.


	Energy		Ag		Nitrogen Production		Corporate and Other		Reconciling Amounts		Total
Year ended August 31, 2023	(Dollars in thousands)
Revenues, including intersegment revenues	$	10,761,503	$	35,456,969	$	—	$	82,107	$	(710,575)	$	45,590,004
Intersegment revenues	(664,590)		(31,765)		—		(14,220)		710,575		—
Revenues, net of intersegment revenues	$	10,096,913	$	35,425,204	$	—	$	67,887	$	—	$	45,590,004
Operating earnings (loss)	1,071,492		346,137		(73,828)		(301)				1,343,500

Interest expense	7,672		71,115		60,090		31,487		(32,922)		137,442
Other income	(19,456)		(88,061)		—		(37,536)		32,922		(112,131)
Equity (income) losses from investments	7,833		(48,725)		(394,678)		(254,020)				(689,590)
Income before income taxes	$	1,075,443	$	411,808	$	260,760	$	259,768	$	—	$	2,007,779

Capital expenditures	$	204,003	$	308,690	$	—	$	51,829	$	—	$	564,522
Depreciation and amortization	$	254,115	$	166,982	$	—	$	43,518	$	—	$	464,615
Total assets as of August 31, 2023	$	4,313,240	$	7,095,283	$	2,577,391	$	4,971,504	$	—	$	18,957,418


	Energy		Ag		Nitrogen Production		Corporate and Other		Reconciling Amounts		Total
Year ended August 31, 2022	(Dollars in thousands)
Revenues, including intersegment revenues	$	10,964,304	$	37,489,203	$	—	$	45,278	$	(707,119)	$	47,791,666
Intersegment revenues	(669,530)		(28,992)		—		(8,597)		707,119		—
Revenues, net of intersegment revenues	$	10,294,774	$	37,460,211	$	—	$	36,681	$	—	$	47,791,666
Operating earnings (loss)	633,832		588,070		(55,600)		(37,216)				1,129,086
Interest expense	6,768		59,118		48,110		5,105		(4,945)		114,156
Other (income) expense	(3,474)		(46,277)		11,487		9,559		4,945		(23,760)
Equity (income) losses from investments	13,987		(82,357)		(593,182)		(109,775)				(771,327)
Income before income taxes	$	616,551	$	657,586	$	477,985	$	57,895	$	—	$	1,810,017

Capital expenditures	$	116,136	$	203,851	$	—	$	34,457	$	—	$	354,444
Depreciation and amortization	$	250,972	$	173,488	$	—	$	37,512	$	—	$	461,972
Total assets as of August 31, 2022	$	4,325,121	$	8,159,191	$	2,641,604	$	3,698,891	$	—	$	18,824,807


	Energy		Ag		Nitrogen Production		Corporate and Other		Reconciling Amounts		Total
Year ended August 31, 2021	(Dollars in thousands)
Revenues, including intersegment revenues	$	6,812,478	$	32,058,064	$	—	$	46,476	$	(468,985)	$	38,448,033
Intersegment revenues	(437,217)		(22,722)		—		(9,046)		468,985		—
Revenues, net of intersegment revenues	$	6,375,261	$	32,035,342	$	—	$	37,430	$	—	$	38,448,033
Operating earnings (loss)	(15,775)		265,362		(35,432)		(8,358)				205,797
Interest expense	1,113		65,099		44,461		1,804		(7,912)		104,565
Other income	(2,819)		(47,452)		(2,489)		(14,711)		7,912		(59,559)
Equity income from investments	(3,473)		(50,381)		(198,439)		(102,236)				(354,529)
Income (loss) before income taxes	$	(10,596)	$	298,096	$	121,035	$	106,785	$	—	$	515,320

Capital expenditures	$	112,160	$	148,770	$	—	$	56,864	$	—	$	317,794
Depreciation and amortization	$	245,273	$	182,210	$	—	$	34,247	$	—	$	461,730

Schedule of Sales Based on Geographic Locations

The following table presents our sales, based on the geographic location of the subsidiary making the sale, for the years ended August 31, 2023, 2022 and 2021:


	2023		2022		2021
	(Dollars in thousands)
North America (a)	$	43,376,177	$	45,039,981	$	36,540,178
South America	378,021		371,493		242,848
Europe, Middle East and Africa (EMEA)	930,052		1,093,974		955,605
Asia Pacific (APAC)	905,754		1,286,218		709,402
Total	$	45,590,004	$	47,791,666	$	38,448,033

(a) Revenues in North America are substantially all attributed to revenues from the United States.

Tangible long-lived assets include our property, plant and equipment, finance lease assets and capitalized major maintenance costs. The following table presents tangible long-lived assets by geographical region based on physical location:


	2023		2022
	(Dollars in thousands)
United States	$	5,088,366	$	4,821,483
International	70,384		70,997
Total	$	5,158,750	$	4,892,480

Schedule of Long-lived Assets by Geographical Region

The following table presents tangible long-lived assets by geographical region based on physical location:


	2023		2022
	(Dollars in thousands)
United States	$	5,088,366	$	4,821,483
International	70,384		70,997
Total	$	5,158,750	$	4,892,480