Other Assets (Tables)

12 Months Ended

Aug. 31, 2020

Other Assets [Abstract]

Schedule of Other Assets

Other assets as of August 31, 2020 and 2019, are as follows:

	2020		2019
	(Dollars in thousands)
Goodwill	$	172,404	$	172,404
Customer lists, trademarks and other intangible assets	65,025		71,206
Notes receivable	109,145		189,045
Long-term derivative assets	21,157		36,408
Prepaid pension and other benefits	106,209		73,100
Capitalized major maintenance	228,511		286,890
Cash value life insurance	130,673		122,792
Operating lease right of use assets	257,834		—
Other	48,471		60,350
Total other assets	$	1,139,429	$	1,012,195

Changes in the Net Carrying Amount of Goodwill

Changes in the net carrying amount of goodwill for the year ended August 31, 2019, by segment, are as follows:

	Energy		Ag		Corporate and Other		Total
	(Dollars in thousands)
Balances, August 31, 2018	$	552	$	127,338	$	10,574	$	138,464
Goodwill acquired during the period	—		61,358		—		61,358
Impairment	—		(27,418)		—		(27,418)
Balances, August 31, 2019	552		161,278		10,574		172,404

Schedule of Intangible Assets included in Other Assets

Information regarding intangible assets is as follows:

	August 31, 2020						August 31, 2019
	Carrying Amount		Accumulated Amortization		Net		Carrying Amount		Accumulated Amortization		Net
	(Dollars in thousands)
Customer lists	$	84,895	$	(23,770)	$	61,125	$	84,815	$	(17,609)	$	67,206
Trademarks and other intangible assets	10,735		(6,835)		3,900		9,736		(5,736)		4,000
Total intangible assets	$	95,630	$	(30,605)	$	65,025	$	94,551	$	(23,345)	$	71,206

Estimated Amortization Expense Related to Intangible Assets Subject to Amortization

The estimated annual amortization expense related to intangible assets subject to amortization for the next five years is as follows:

	(Dollars in thousands)
2021	$	8,215
2022	7,973
2023	7,870
2024	7,660
2025	7,345
Thereafter	25,866
Total	$	64,929

Activity Related to Capitalized Major Maintenance Costs at Refineries

Activity related to capitalized major maintenance costs at our refineries for the years ended August 31, 2020, 2019 and 2018, is summarized below:

	Balance at Beginning of Year		Cost Deferred		Amortization		Balance at End of Year
	(Dollars in thousands)
2020	$	286,890	$	14,496	$	(72,875)	$	228,511
2019	130,780		224,406		(68,296)		286,890
2018	105,006		87,460		(61,686)		130,780