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Chs Inc (CHSCP) SEC Filing 10-K Annual Report for the fiscal year ending Thursday, August 31, 2023

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Chs Inc

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CIK: 823277 Ticker: CHSCP



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Contact: Tom Ryan
(651) 355-4582
Tom.Ryan@chsinc.com





CHS Reports Third Quarter Earnings
Strong Global Demand Generated $547.5 Million in
Net Income for Third Quarter of Fiscal Year 2023


ST. PAUL, MINN. (July 13, 2023) - CHS Inc., the nation’s leading agribusiness cooperative, today released results for its third quarter ended May 31, 2023. The company reported quarterly net income of $547.5 million compared to a record third quarter net income of $576.6 million in fiscal year 2022. For the first nine months of fiscal year 2023, the company reported net income of $1.6 billion and revenues of $36.1 billion, compared to net income of $1.2 billion and revenues of $34.4 billion recorded during the same period of fiscal year 2022.
Fiscal 2023 third quarter highlights include:
•Our Energy segment delivered strong earnings, reflecting sustained favorable market conditions in our refined fuels business.
•Improved soybean and canola crush margins due to strong meal and oil demand resulted in higher earnings in our oilseed processing business.
•Market-driven price decreases for wholesale and retail agronomy products resulted in lower margins versus the same period last year.

"Consumer demand remains strong for energy and oilseed products, and our joint venture investments continue to contribute to strong earnings and round out our well-diversified portfolio," said Jay Debertin, president and CEO of CHS Inc. "As we enter the end of our fiscal year, opportunities remain for profitability and growth in the agriculture industry, and CHS is well-positioned to maximize value for our member cooperatives, farmer-owners and customers."

Energy
Pretax earnings of $199 million for the third quarter of fiscal year 2023 represent a $35.8 million increase versus the prior year period and reflect:
•Strong refining margins attributed to global market conditions and favorable pricing of heavy Canadian crude oil in our refined fuels business
•Higher margins were partially offset by decreased refined fuels production volumes related to planned major maintenance at our refinery in Laurel, Mont.

Ag
Pretax earnings of $233.5 million represent a $40.2 million decrease in earnings versus the prior year period and reflect:
•Increased margins in our grain and oilseed and processing product categories, due primarily to strong meal and oil demand
•Market-driven price decreases, particularly for wholesale and retail agronomy products, which led to lower margins


The following information was filed by Chs Inc (CHSCP) on Thursday, July 13, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Chs Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Statement Of Cash Flows
Consolidated Statements Of Changes In Equities
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Investments - Schedule Of Equity Method Investment
Benefit Plans
Benefit Plans (Tables)
Benefit Plans - Components Of Net Periodic Benefit Costa And Amounts Recognized In Other Comprehensive Income (Loss) (Details)
Benefit Plans - Components Of Net Periodic Benefit Costs (Details)
Benefit Plans - Expected Future Retiree Benefit Payments (Details)
Benefit Plans - Financial Information On Changes In Benefit Obligation, Plan Assets Funded And Balance Sheets Status (Details)
Benefit Plans - Information For The Pension Plans With An Accumulated Benefit Obligation In Excess Of Plan Assets (Details)
Benefit Plans - Multiemployer Co-Op Retirement Plan (Details)
Benefit Plans - Narrative (Details)
Benefit Plans - Schedule Of Amortization From Other Accumulated Comprehensive Income Into Net Period Benefit Costs (Details)
Benefit Plans - Schedule Of Pension Plans' Fair Value Measurements (Details)
Benefit Plans - Schedule Of The Effect A Percentage Point Change In The Assumed Health Care Cost Trend Rates (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Unconditional Purchase Obligations (Details)
Deferred Costs, Capitalized, Prepaid, And Other Assets
Deferred Costs, Capitalized, Prepaid, And Other Assets (Details)
Deferred Costs, Capitalized, Prepaid, And Other Assets (Tables)
Derivative Financial Instruments And Hedging Activities
Derivative Financial Instruments And Hedging Activities (Tables)
Derivative Financial Instruments And Hedging Activities - Derivative Assets And Liabilities Not Designated As Hedging Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Derivative Instruments Designated As Hedging Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Fair Value Of Derivative Instruments Designated As Fair Value Hedges (Details)
Derivative Financial Instruments And Hedging Activities - Gross Fair Values Of Derivative Assets, Derivative Liabilities, And Margin Deposits (Cash Collateral) (Details)
Derivative Financial Instruments And Hedging Activities - Narrative (Details)
Derivative Financial Instruments And Hedging Activities - Pretax Gains (Losses) On Derivatives Accounted For As Hedging Instruments (Details)
Derivative Financial Instruments And Hedging Activities - Pretax Gains (Losses) Recorded In Other Comprehensive Income Relating To Cash Flow Hedges (Details)
Derivative Financial Instruments And Hedging Activities - Pretax Gains (Losses) Relating To Cash Flow Hedges Reclassified From Aocl Into Income (Details)
Derivative Financial Instruments And Hedging Activities - Purchase And Sales Contracts Outstanding (Details)
Equities
Equities (Tables)
Equities - Accumulated Other Comprehensive Loss (Details)
Equities - Narrative (Details)
Equities - Summary Of Outstanding Preferred Stock (Details)
Equities Peferred Stock Table (Tables)
Equity (Details)
Equity (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Recurring Fair Value Measurements (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Provision For (Benefit From) Income Taxes (Details)
Income Taxes - Reconciliation Of The Statutory Tax Rates To The Effective Tax Rates (Details)
Income Taxes - Rollforward Of Unrecognized Tax Benefits (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Details)
Investments (Tables)
Investments - Narrative (Details)
Investments - Schedule Of Investments (Details)
Leases, Codification Topic 842
Leases, Codification Topic 842 (Details)
Leases, Codification Topic 842 (Tables)
Notes Payable And Long-Term Debt (Tables)
Notes Payable And Long-Term Debt - Narrative (Details)
Notes Payable And Long-Term Debt - Schedule Of Long-Term Debt (Details)
Notes Payable And Long-Term Debt - Schedule Of Minimum Future Payments (Details)
Notes Payable And Long-Term Debt - Schedule Of Notes Payable (Details)
Notes Payable And Long-Term Debt - Schedule Of Primary Lines Of Credit (Details)
Organization, Basis Of Presentation And Significant Accounting Policies
Organization, Basis Of Presentation And Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Significant Accounting Policies Reconciliation Of Cash, Cash Equivalents, And Restricted Cash (Details)
Other Assets
Other Assets (Tables)
Other Assets - Narrative (Details)
Other Assets - Rollforward Of Capitalized Maintenance Activity (Details)
Other Assets - Schedule Of Definite Lived Intangible Assets Estimated Annual Amortization Expense (Details)
Other Assets - Schedule Of Goodwill (Details)
Other Assets - Schedule Of Intangible Assets (Details)
Other Assets - Schedule Of Other Assets (Details)
Other Liabilities
Other Liabilities (Details)
Other Liabilities (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Narrative (Details)
Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (Details)
Receivables
Receivables (Tables)
Receivables - Narrative (Details)
Receivables - Schedule Of Receivables (Details)
Related Party Transactions
Related Party Transactions (Details)
Related Party Transactions (Tables)
Revenue Recognition And Deferred Revenue (Policies)
Revenues (Details)
Revenues (Tables)
Revenues Disaggregated Revenue (Details)
Schedule Ii - Valuation And Qualifying Accounts And Reserves
Schedule Ii - Valuation And Qualifying Accounts And Reserves (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Narrative (Details)
Segment Reporting - Sales By Geographic Regions (Details)
Segment Reporting - Segment Information (Details)
Ticker: CHSCP
CIK: 823277
Form Type: 10-K Annual Report
Accession Number: 0000823277-23-000053
Submitted to the SEC: Wed Nov 08 2023 4:06:08 PM EST
Accepted by the SEC: Wed Nov 08 2023
Period: Thursday, August 31, 2023
Industry: Wholesale Farm Product Raw Materials

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