XML 77 R46.htm IDEA: XBRL DOCUMENT v3.25.3
Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Aug. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of gross fair values of derivative assets, derivative liabilities, and margin deposits (cash collateral)
The following tables present the gross fair values of derivative assets, derivative liabilities and related margin deposits (cash collateral) recorded on our Consolidated Balance Sheets, along with related amounts permitted to be offset in accordance with U.S. GAAP. Although we have certain netting arrangements for our exchange-traded futures and options contracts and certain OTC contracts, we have elected to report our derivative instruments on a gross basis on our Consolidated Balance Sheets under ASC Topic 210-20, Balance Sheet - Offsetting.
August 31, 2025
Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
Gross Amounts RecognizedCash CollateralDerivative InstrumentsNet Amounts
 (Dollars in thousands)
Derivative assets
Commodity derivatives$130,491 $— $10,715 $119,776 
Foreign exchange derivatives43,527 — 9,379 34,148 
Total$174,018 $— $20,094 $153,924 
Derivative liabilities
Commodity derivatives$166,122 $232 $10,715 $155,175 
Foreign exchange derivatives11,771 — 9,379 2,392 
Total$177,893 $232 $20,094 $157,567 

August 31, 2024
Amounts Not Offset on the Consolidated Balance Sheet but Eligible for Offsetting
Gross Amounts RecognizedCash CollateralDerivative InstrumentsNet Amounts
 (Dollars in thousands)
Derivative assets
Commodity derivatives$165,709 $— $2,522 $163,187 
Foreign exchange derivatives9,029 — 7,100 1,929 
Total$174,738 $— $9,622 $165,116 
Derivative liabilities
Commodity derivatives$221,803 $1,601 $2,522 $217,680 
Foreign exchange derivatives24,476 — 7,100 17,376 
Total$246,279 $1,601 $9,622 $235,056 
Pretax gains (losses) on derivatives not accounted for as hedging instruments The following table sets forth the pretax gains (losses) on derivatives not accounted for as hedging instruments that have been included in our Consolidated Statements of Operations for the years ended August 31, 2025, 2024 and 2023:
Derivative TypeLocation of
(Loss) Gain		202520242023
  (Dollars in thousands)
Commodity derivativesCost of goods sold$21,473 $5,380 $(360,937)
Foreign exchange derivativesCost of goods sold39,681 (31,874)(30,898)
Foreign exchange derivativesMarketing, general and administrative expenses3,651 (2,897)(530)
Total $64,805 $(29,391)$(392,365)
Schedule of notional volumes for outstanding commodity contracts The table below presents the notional volumes for all outstanding commodity contracts:
 20252024
Derivative TypeLongShortLongShort
 (Units in thousands)
Grain and oilseed (bushels)468,345 702,025 385,426517,883
Energy products (barrels)10,059 6,687 8,4385,014
Processed grain and oilseed (tons)1,168 2,429 3,6006,193
Crop nutrients (tons)29 32 7314
Natural gas (MMBtu)180 — 2,350 500 
Schedule of fair value of derivative interest rate swap instruments designated as fair value hedges The following table presents the fair value of our commodity derivative instruments designated as cash flow hedges and the line items on our Consolidated Balance Sheets in which they are recorded as of August 31, 2025 and 2024:
Derivative AssetsDerivative Liabilities
Balance Sheet Location20252024Balance Sheet Location20252024
(Dollars in thousands)(Dollars in thousands)
Other current assets$5,197 $5,226 Other current liabilities$1,786 $2,781 
Schedule of pretax gains (losses) on derivatives accounted for as hedging instruments The following table presents the pretax gains (losses) recorded in other comprehensive income relating to cash flow hedges for the years ended August 31, 2025, 2024 and 2023:
202520242023
 (Dollars in thousands)
Commodity derivatives$965 $(605)$(12,285)