Revenues (Notes)

9 Months Ended

May 31, 2024

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

    The following table presents revenues recognized under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("ASC Topic 606"), disaggregated by reportable segment, as well as the amount of revenues recognized under ASC Topic 815, Derivatives and Hedging ("ASC Topic 815"), and other applicable accounting guidance for the three and nine months ended May 31, 2024 and 2023. Other applicable accounting guidance primarily includes revenues recognized under ASC Topic 470, Debt, and ASC Topic 842, Leases, that fall outside the scope of ASC Topic 606.

	ASC Topic 606		ASC Topic 815		Other Guidance		Total Revenues
Three Months Ended May 31, 2024	(Dollars in thousands)
Energy	$	1,875,368	$	191,810	$	—	$	2,067,178
Ag	2,680,506		4,836,245		6,905		7,523,656
Corporate and Other	5,647		—		12,502		18,149
Total revenues	$	4,561,521	$	5,028,055	$	19,407	$	9,608,983
Three Months Ended May 31, 2023
Energy	$	1,980,243	$	283,844	$	—	$	2,264,087
Ag	3,295,312		6,444,559		4,105		9,743,976
Corporate and Other	6,388		—		11,600		17,988
Total revenues	$	5,281,943	$	6,728,403	$	15,705	$	12,026,051

	ASC Topic 606		ASC Topic 815		Other Guidance		Total Revenues
Nine Months Ended May 31, 2024	(Dollars in thousands)
Energy	$	5,896,394	$	645,446	$	—	$	6,541,840
Ag	6,385,233		17,075,587		26,112		23,486,932
Corporate and Other	18,810		—		39,539		58,349
Total revenues	$	12,300,437	$	17,721,033	$	65,651	$	30,087,121
Nine Months Ended May 31, 2023
Energy	$	6,775,463	$	776,831	$	—	$	7,552,294
Ag	7,757,867		20,724,153		15,670		28,497,690
Corporate and Other	18,874		—		29,880		48,754
Total revenues	$	14,552,204	$	21,500,984	$	45,550	$	36,098,738

Less than 1% of revenues accounted for under ASC Topic 606 included within the tables above are recorded over time and relate primarily to service contracts.

Contract Assets and Contract Liabilities

    Contract assets relate to unbilled amounts arising from goods that have already been transferred to customers where the right to payment is not conditional on the passage of time. This results in recognition of an asset as the amount of revenue recognized at a certain point in time exceeds the amount billed to customers. Contract assets are recorded in receivables within our Condensed Consolidated Balance Sheets and were $10.2 million and $16.2 million as of May 31, 2024, and August 31, 2023, respectively.

Contract liabilities relate to advance payments received from customers for goods and services that we have yet to provide. Contract liabilities of $281.8 million and $240.0 million as of May 31, 2024, and August 31, 2023, respectively, are recorded within other current liabilities on our Condensed Consolidated Balance Sheets. For the three months ended May 31, 2024 and 2023, we recognized revenues of $54.0 million and $93.1 million related to contract liabilities, respectively. For the nine months ended May 31, 2024 and 2023, we recognized revenues of $222.8 million and $285.3 million related to contract liabilities, respectively. These amounts were included in the other current liabilities balance at the beginning of the respective period.