Segment Reporting (Tables)

12 Months Ended

Aug. 31, 2020

Segment information for the years ended August 31, 2020, 2019 and 2018 is presented in the tables below. The fiscal 2020 and fiscal 2019 results for our Ag segment include results associated with our acquisition of the remaining 75% ownership interest in WCD that we did not previously own on March 1, 2019, which were not included in our fiscal 2018 results. Refer to further details related to our acquisition of the remaining 75% ownership interest in WCD that we did not previously own within Note 20, Acquisitions.


	Energy		Ag		Nitrogen Production		Corporate and Other		Reconciling Amounts		Total
	(Dollars in thousands)
For the year ended August 31, 2020
Revenues, including intersegment revenues	$	5,820,154	$	22,940,712	$	—	$	55,567	$	(410,068)	$	28,406,365
Intersegment revenues	(389,020)		(14,613)		—		(6,435)		410,068		—
Revenues, net of intersegment revenues	$	5,431,134	$	22,926,099	$	—	$	49,132	$	—	$	28,406,365
Operating earnings (loss)	219,861		82,543		(33,497)		8,358		—		277,265
Gain on disposal of business	—		(211)		—		(1,239)		—		(1,450)

Interest expense	308		71,682		45,255		11,806		(12,074)		116,977
Other income	(3,005)		(35,349)		(2,635)		(9,510)		12,074		(38,425)
Equity income from investments	(2,759)		(7,303)		(127,954)		(48,699)		—		(186,715)
Income before income taxes	$	225,317	$	53,724	$	51,837	$	56,000	$	—	$	386,878

Capital expenditures	175,169		158,903		—		84,287		—		418,359
Depreciation and amortization	245,983		196,510		—		34,882		—		477,375
Total assets as of August 31, 2020	4,447,526		6,325,857		2,681,616		2,538,948		—		15,993,947


	Energy		Ag		Nitrogen Production		Corporate and Other		Reconciling Amounts		Total
	(Dollars in thousands)
For the year ended August 31, 2019
Revenues, including intersegment revenues	$	7,581,450	$	24,736,425	$	—	$	68,710	$	(486,132)	$	31,900,453
Intersegment revenues	(462,374)		(16,353)		—		(7,405)		486,132		—
Revenues, net of intersegment revenues	$	7,119,076	$	24,720,072	$	—	$	61,305	$	—	$	31,900,453
Operating earnings (loss)	615,662		65,181		(35,046)		13,805		—		659,602
Gain on disposal of business	—		(3,886)		—		—		—		(3,886)
Interest expense	5,719		101,386		55,226		11,684		(6,950)		167,065
Other income	(5,548)		(70,888)		(2,769)		(10,168)		6,950		(82,423)
Equity income from investments	(2,697)		(4,447)		(160,373)		(69,238)		—		(236,755)
Income before income taxes	$	618,188	$	43,016	$	72,870	$	81,527	$	—	$	815,601

Capital expenditures	268,877		110,197		—		64,142		—		443,216
Depreciation and amortization	233,624		208,294		—		31,293		—		473,211
Total assets as of August 31, 2019	4,401,793		6,415,580		2,730,306		2,899,815		—		16,447,494


	Energy		Ag		Nitrogen Production		Corporate and Other		Reconciling Amounts		Total
	(Dollars in thousands)
For the year ended August 31, 2018
Revenues, including intersegment revenues	$	8,068,717	$	25,052,395	$	—	$	64,516	$	(502,281)	$	32,683,347
Intersegment revenues	(479,598)		(14,914)		—		(7,769)		502,281		—
Revenues, net of intersegment revenues	$	7,589,119	$	25,037,481	$	—	$	56,747	$	—	$	32,683,347
Operating earnings (loss)	388,112		93,728		(20,619)		(8,857)		—		452,364
Gain on disposal of business	(65,862)		(7,707)		—		(58,247)		—		(131,816)
Interest expense	14,627		94,256		50,499		(7,712)		(2,468)		149,202
Other income	(9,698)		(68,471)		(3,061)		(3,975)		2,468		(82,737)
Equity (income) loss from investments	(3,063)		1,392		(106,895)		(44,949)		—		(153,515)
Income before income taxes	$	452,108	$	74,258	$	38,838	$	106,026	$	—	$	671,230

Capital expenditures	248,207		77,962		—		29,243		—		355,412
Depreciation and amortization	230,230		218,716		—		29,104		—		478,050

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, 2020, 2019 and 2018:


	2020		2019		2018
	(Dollars in thousands)
North America (a)	$	25,360,077	$	27,896,269	$	29,475,724
South America	1,559,380		2,027,020		1,569,330
Europe, Middle East and Africa (EMEA)	774,068		895,472		536,501
Asia Pacific (APAC)	712,840		1,081,692		1,101,792
Total	$	28,406,365	$	31,900,453	$	32,683,347

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

Schedule of Long-lived Assets by Geographical Region

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


	2020		2019
	(Dollars in thousands)
United States	$	5,121,315	$	5,295,752
International	65,134		79,846
Total	$	5,186,449	$	5,375,598