Inventories
Inventories as of August 31, 2013 and 2012 are as follows:
|
| | | | | | | |
| 2013 | | 2012 |
| (Dollars in thousands) |
Grain and oilseed | $ | 1,133,555 |
| | $ | 1,625,865 |
|
Energy | 742,194 |
| | 701,348 |
|
Crop nutrients | 293,370 |
| | 401,655 |
|
Feed and farm supplies | 407,023 |
| | 384,178 |
|
Processed grain and oilseed | 79,706 |
| | 76,892 |
|
Other | 8,887 |
| | 14,034 |
|
| $ | 2,664,735 |
| | $ | 3,203,972 |
|
As of August 31, 2013, we valued approximately 16% of inventories, primarily crude oil and refined fuels within our Energy segment, using the lower of cost, determined on the LIFO method, or market (11% as of August 31, 2012). If the FIFO method of accounting had been used, inventories would have been higher than the reported amount by $652.6 million and $566.6 million at August 31, 2013 and 2012, respectively.
