v3.26.3
Revenues
 12 Months Ended
Aug. 31, 2026
Revenues [Abstract]  
Revenues Revenues
We provide a wide variety of products and services, from agricultural inputs such as refined fuels, propane, lubricants, crop nutrients and crop protection products to agricultural outputs that include grain and oilseeds, processed products, renewable fuels and animal nutrition products. We primarily conduct our operations and derive revenues within our Energy, Grains and Agronomy segments. Our Energy segment derives revenues from wholesale and retail activities within our refined fuels, propane and lubricants product lines. Our Grains segment derives revenues from global grain marketing and processing activities within our feed grains, oilseeds, wheat, specialty grains and animal nutrition product lines, including grain origination, merchandising, export, oilseed processing and renewable fuels activities. Our Agronomy segment derives revenues from wholesale and retail sales of crop nutrients, crop protection products and seed. Corporate and Services primarily consists of our financing, hedging and transportation services.

Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied, which generally occurs when control of the goods has transferred to the customer in accordance with the underlying contract. For the majority of our contracts with customers, control transfers to customers at a point in time when goods and/or services have been delivered, as that is generally when legal title, physical possession and risks and rewards of ownership of the goods and/or services transfer to the customer. In limited arrangements, control transfers over time as the customer simultaneously receives and consumes the benefits of the service as we complete our performance obligation(s). Revenue is recognized as the transaction price we expect to be entitled to in exchange for transferring goods or services to a customer, excluding amounts collected on behalf of third parties. For physically settled derivative sales contracts that are outside the scope of the revenue guidance, we recognize revenue when control of the inventory is transferred. Revenues arising from our financing business are recognized in accordance with Accounting Standards Codification ("ASC") Topic 310, Receivables ("ASC Topic 310") and fall outside the scope of ASC Topic 606, Revenue from Contracts with Customers ("ASC Topic 606").

Shipping and Handling Costs

Shipping and handling amounts billed to a customer as part of a sales transaction under ASC Topic 606 are included in revenues, and the related costs are included in cost of goods sold. Shipping and handling is treated as a fulfillment activity, rather than a promised service, and therefore is not considered a separate performance obligation.

Taxes Collected from Customers and Remitted to Governmental Authorities
 
Revenues are recorded net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant governmental authority.

Contract Costs

Commissions related to contracts with a duration of less than one year are expensed as incurred. We recognize incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets we otherwise would have recognized is one year or less.
Disaggregation of Revenues

The following table presents revenues recognized under ASC Topic 606, disaggregated by operating segments, as well as the amount of revenues recognized under ASC Topic 815, Derivatives and Hedging ("ASC Topic 815"), and other applicable accounting guidance for the years ended August 31, 2026, 2025 and 2024. Other applicable accounting guidance primarily includes revenues recognized under ASC Topic 310 and ASC Topic 842, Leases ("ASC Topic 842"), that fall outside the scope of ASC Topic 606.
Year ended August 31, 2026
ASC Topic 606ASC Topic 815Other GuidanceTotal Revenues
(Dollars in thousands)
Energy$10,301,353 $1,058,602 $— $11,359,955 
Grains1,899,215 19,674,856 10,067 21,584,138 
Agronomy6,099,599 — — 6,099,599 
Corporate and Services123,299 — 64,226 187,525 
Total revenues$18,423,466 $20,733,458 $74,293 $39,231,217 
Year ended August 31, 2025
ASC Topic 606ASC Topic 815Other GuidanceTotal Revenues
(Dollars in thousands)
Energy$7,449,198 $749,040 $16 $8,198,254 
Grains1,882,989 19,094,429 10,470 20,987,888 
Agronomy6,069,112 — — 6,069,112 
Corporate and Services150,398 — 56,956 207,354 
Total revenues$15,551,697 $19,843,469 $67,442 $35,462,608 
Year ended August 31, 2024
ASC Topic 606ASC Topic 815Other GuidanceTotal Revenues
(Dollars in thousands)
Energy$8,422,917 $987,324 $— $9,410,241 
Grains2,613,409 21,468,459 10,938 24,092,806 
Agronomy5,568,025 — 95 5,568,120 
Corporate and Services136,836 — 53,226 190,062 
Total revenues$16,741,187 $22,455,783 $64,259 $39,261,229 

Less than 1% of revenues accounted for under ASC Topic 606 included within the table above are recorded over time and relate primarily to service contracts.

Contract Assets and Contract Liabilities

Contract assets relate to unbilled amounts arising from goods that have already been transferred to the customer where the right to payment is not conditional on the passage of time. This results in recognition of an asset, as the amount of revenue recognized at a certain point in time exceeds the amount billed to customers. Contract assets are recorded in receivables within our Consolidated Balance Sheets and were $7.6 million and $11.8 million as of August 31, 2026 and 2025, respectively.

Contract liabilities relate to advance payments received from customers for goods and services that we have yet to provide. Contract liabilities of $194.6 million and $179.6 million as of August 31, 2026 and 2025, respectively, are recorded within other current liabilities on our Consolidated Balance Sheets, and are recognized as revenues within the next respective fiscal year.