Item 2.06 Material Impairments.

The Company owns 12,905,882 shares of the outstanding common stock of VeraSun Energy Corporation (VeraSun), which represents an approximate 8% ownership interest that is accounted for as an available for sale investment under Statement of Financial Accounting Standards No. 115, "Accounting for Certain Investments in Debt and Equity Securites". Due to the continued decline of the ethanol industry and the Current Report on Form 8-K filed by VeraSun on September 16, 2008, the Company has determined that an impairment is necessary of its investment in VeraSun. The Company applied FASB Staff Position "FAS115-1/124-1: The Meaning of Other-Than-Temporary Impairment and Its Application to Certain Investments" to determine the amount of the impairment. As a result, based on VeraSun's market value of $5.76 per share on August 31, 2008, an impairment charge in the amount of $71.7 million ($55.3 million net of taxes) was recorded during the fourth quarter of the Company's year ended August 31, 2008. The impairment did not affect the Company's cash flows and did not have a bearing upon its compliance with any covenants under its credit facilities.

Subsequent to August 31, 2008, the market value of VeraSun's stock price has continued to decline, and the Company will be evaluating whether an additional impairment will be necessary during the Company's first quarter of fiscal 2009.

Item 8.01 Other Events.

The Company's unaudited results for the year ended August 31, 2008, reflect a fifth consecutive year of record net income of $803.0 million on record sales of $32.2 billion.

---

Top of the Form