v3.26.1
Equities
 6 Months Ended
Feb. 28, 2026
Equity [Abstract]  
Equities Equities
Changes in Equities

Changes in equities for the three months ended February 28, 2026 and 2025, are as follows:
 Equity Certificates Accumulated
Other
Comprehensive
Loss		   
Capital
Equity
Certificates		Nonpatronage
Equity
Certificates		Nonqualified Equity CertificatesPreferred
Stock		Capital
Reserves		Noncontrolling
Interests		Total
Equities
 (Dollars in thousands)
Balances, November 30, 2025$3,717,911 $26,316 $2,322,450 $2,264,038 $(290,357)$3,162,987 $3,477 $11,206,822 
Reversal of prior fiscal year patronage and redemption estimates(40,926)— (144,101)— — 218,210 — 33,183 
Distribution of 2025 patronage refunds54,230 — 144,097 — — (217,403)— (19,076)
Redemptions of equities
(9,977)(48)(4,082)— — — — (14,107)
Preferred stock dividends
— — — — — (42,167)— (42,167)
Other, net
(105)— (6)— — 179 10 78 
Net loss— — — — — (147,052)(138)(147,190)
Other comprehensive income, net of tax— — — — 15,719 — — 15,719 
Estimated 2026 cash patronage refunds— — — — — 7,881 — 7,881 
Estimated 2026 equity redemptions19,152 — — — — — — 19,152 
Balances, February 28, 2026$3,740,285 $26,268 $2,318,358 $2,264,038 $(274,638)$2,982,635 $3,349 $11,060,295 
 Equity Certificates Accumulated
Other
Comprehensive
Loss		   
Capital
Equity
Certificates		Nonpatronage
Equity
Certificates		Nonqualified Equity CertificatesPreferred
Stock		Capital
Reserves		Noncontrolling
Interests		Total
Equities
 (Dollars in thousands)
Balances, November 30, 2024$3,707,020 $27,105 $2,199,228 $2,264,038 $(304,802)$2,919,830 $5,969 $10,818,388 
Reversal of prior fiscal year patronage and redemption estimates(70,765)— (282,431)— — 589,196 — 236,000 
Distribution of 2024 patronage refunds75,884 — 283,766 — — (589,120)— (229,470)
Redemptions of equities
(5,007)(54)(1,435)— — — — (6,496)
Preferred stock dividends
— — — — — (42,167)— (42,167)
Other, net
(3)(16)(15)— — (6,086)(515)(6,635)
Net loss— — — — — (75,754)(249)(76,003)
Other comprehensive income, net of tax— — — — 2,450 — — 2,450 
Estimated 2025 cash patronage refunds— — — — — 36,859 — 36,859 
Estimated 2025 equity redemptions(18,798)— — — — — — (18,798)
Balances, February 28, 2025 $3,688,331 $27,035 $2,199,113 $2,264,038 $(302,352)$2,832,758 $5,205 $10,714,128 

Changes in equities for the six months ended February 28, 2026 and 2025, are as follows:
 Equity Certificates Accumulated
Other
Comprehensive
Loss		   
Capital
Equity
Certificates		Nonpatronage
Equity
Certificates		Nonqualified Equity CertificatesPreferred
Stock		Capital
Reserves		Noncontrolling
Interests		Total
Equities
 (Dollars in thousands)
Balances, August 31, 2025$3,743,060 $26,888 $2,333,657 $2,264,038 $(306,372)$3,015,424 $3,479 $11,080,174 
Reversal of prior fiscal year patronage and redemption estimates(27,167)— (144,101)— — 218,210 — 46,942 
Distribution of 2025 patronage refunds54,230 — 144,097 — — (217,403)— (19,076)
Redemptions of equities
(19,957)(122)(7,787)— — — — (27,866)
Preferred stock dividends
— — — — — (126,501)— (126,501)
Other, net
8,087 (498)(7,508)— — (16,034)34 (15,919)
Net income (loss)— — — — — 113,431 (164)113,267 
Other comprehensive income, net of tax— — — — 31,734 — — 31,734 
Estimated 2026 cash patronage refunds— — — — — (4,492)— (4,492)
Estimated 2026 equity redemptions(17,968)— — — — — — (17,968)
Balances, February 28, 2026$3,740,285 $26,268 $2,318,358 $2,264,038 $(274,638)$2,982,635 $3,349 $11,060,295 
 Equity Certificates Accumulated
Other
Comprehensive
Loss		   
Capital
Equity
Certificates		Nonpatronage
Equity
Certificates		Nonqualified Equity CertificatesPreferred
Stock		Capital
Reserves		Noncontrolling
Interests		Total
Equities
 (Dollars in thousands)
Balances, August 31, 2024$3,753,343 $27,261 $2,201,765 $2,264,038 $(296,542)$2,805,526 $6,533 $10,761,924 
Reversal of prior fiscal year patronage and redemption estimates(60,934)— (282,431)— — 589,196 — 245,831 
Distribution of 2024 patronage refunds75,884 — 283,766 — — (589,120)— (229,470)
Redemptions of equities
(12,145)(210)(3,972)— — — — (16,327)
Preferred stock dividends
— — — — — (126,501)— (126,501)
Other, net
(8)(16)(15)— — (3,227)(1,882)(5,148)
Net income— — — — — 169,036 554 169,590 
Other comprehensive loss, net of tax— — — — (5,810)— — (5,810)
Estimated 2025 cash patronage refunds— — — — — (12,152)— (12,152)
Estimated 2025 equity redemptions(67,809)— — — — — — (67,809)
Balances, February 28, 2025 $3,688,331 $27,035 $2,199,113 $2,264,038 $(302,352)$2,832,758 $5,205 $10,714,128 

Preferred Stock Dividends

    The following table presents a summary of dividends declared per share by series of preferred stock for the three and six months ended February 28, 2026 and 2025.
Three Months Ended February 28,Six Months Ended
February 28,
Nasdaq symbol2026202520262025
Series of preferred stock:(Dollars per share)
8% Cumulative Redeemable
CHSCP$0.50 $0.50 $1.50 $1.50 
Class B Cumulative Redeemable, Series 1CHSCO$0.49 $0.49 $1.48 $1.48 
Class B Reset Rate Cumulative Redeemable, Series 2CHSCN$0.44 $0.44 $1.33 $1.33 
Class B Reset Rate Cumulative Redeemable, Series 3CHSCM$0.42 $0.42 $1.27 $1.27 
Class B Cumulative Redeemable, Series 4CHSCL$0.47 $0.47 $1.41 $1.41 

Accumulated Other Comprehensive Income (Loss)    

Changes in accumulated other comprehensive income (loss) by component for the three months ended February 28, 2026 and 2025, are as follows:
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of November 30, 2025, net of tax$(197,282)$1,503 $(94,578)$(290,357)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 125 12,707 12,832 
Amounts reclassified4,574 (495)— 4,079 
Total other comprehensive income (loss), before tax4,574 (370)12,707 16,911 
Tax effect(1,110)90 (172)(1,192)
Other comprehensive income (loss), net of tax3,464 (280)12,535 15,719 
Balance as of February 28, 2026, net of tax$(193,818)$1,223 $(82,043)$(274,638)
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of November 30, 2024, net of tax$(193,855)$3,258 $(114,205)$(304,802)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 3,619 (504)3,115 
Amounts reclassified3,260 (3,277)— (17)
Total other comprehensive income (loss), before tax3,260 342 (504)3,098 
Tax effect(799)(84)235 (648)
Other comprehensive income (loss), net of tax2,461 258 (269)2,450 
Balance as of February 28, 2025, net of tax$(191,394)$3,516 $(114,474)$(302,352)

Changes in accumulated other comprehensive income (loss) by component for the six months ended February 28, 2026 and 2025, are as follows:
Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of August 31, 2025, net of tax$(199,578)$2,763 $(109,557)$(306,372)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 1,365 27,623 28,988 
Amounts reclassified7,606 (3,399)— 4,207 
Total other comprehensive income (loss), before tax7,606 (2,034)27,623 33,195 
Tax effect(1,846)494 (109)(1,461)
Other comprehensive income (loss), net of tax5,760 (1,540)27,514 31,734 
Balance as of February 28, 2026, net of tax$(193,818)$1,223 $(82,043)$(274,638)

Pension and Other Postretirement BenefitsCash Flow HedgesForeign Currency Translation AdjustmentTotal
(Dollars in thousands)
Balance as of August 31, 2024, net of tax$(195,973)$1,777 $(102,346)$(296,542)
Other comprehensive income (loss), before tax:
Amounts before reclassifications— 9,819 (12,417)(2,598)
Amounts reclassified6,065 (7,515)— (1,450)
Total other comprehensive income (loss), before tax6,065 2,304 (12,417)(4,048)
Tax effect(1,486)(565)289 (1,762)
Other comprehensive income (loss), net of tax4,579 1,739 (12,128)(5,810)
Balance as of February 28, 2025, net of tax$(191,394)$3,516 $(114,474)$(302,352)

    Amounts reclassified from accumulated other comprehensive income (loss) were related to pension and other postretirement benefits, cash flow hedges and foreign currency translation adjustments. Pension and other postretirement reclassifications include amortization of net actuarial loss, prior service credit and transition amounts and are recorded as cost of goods sold and marketing, general and administrative expenses (see Note 9, Benefit Plans, for further information). As described in Note 11, Derivative Financial Instruments and Hedging Activities, amounts reclassified from accumulated other comprehensive income (loss) for cash flow hedges are recorded in cost of goods sold. Gains or losses on foreign currency translation reclassifications are recorded in other income.