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Notes Payable and Long-Term Debt
 9 Months Ended
May 31, 2014
Debt Disclosure [Abstract]  
Notes Payable and Long-Term Debt
Notes Payable and Long-Term Debt
 
May 31, 2014
 
August 31, 2013
 
May 31, 2013
 
(Dollars in thousands)
Notes payable
$
703,438

 
$
521,864

 
$
432,892

CHS Capital notes payable
426,381

 
367,448

 
439,246

Total notes payable
$
1,129,819

 
$
889,312

 
$
872,138


On May 31, 2014, our primary committed line of credit was a five-year revolving facility with a committed amount of $2.5 billion. We had no amounts outstanding as of May 31, 2014, August 31, 2013 and May 31, 2013.
    
Interest, net for the three and nine months ended May 31, 2014 and 2013 is as follows:
 
For the Three Months Ended May 31,
 
For the Nine Months Ended May 31,
 
2014
 
2013
 
2014
 
2013
 
(Dollars in thousands)
Interest expense
$
23,397

 
$
25,649

 
$
57,823

 
$
73,304

Interest-purchase of NCRA noncontrolling interests
23,862

 
45,574

 
56,258

 
126,261

Capitalized interest
(2,641
)
 
(2,567
)
 
(6,503
)
 
(8,163
)
Interest income
(2,129
)
 
(2,262
)
 
(5,315
)
 
(4,413
)
Interest, net
$
42,489

 
$
66,394

 
$
102,263

 
$
186,989


In February 2014, we terminated interest rate swaps and recorded a resulting $13.5 million gain as a reduction to interest expense in our Consolidated Statements of Operations for the nine months ended May 31, 2014. See Note 9, Derivative Financial Instruments and Hedging Activities for additional information.