SEGMENTS

The Company and its subsidiaries are principally engaged in the operation of membership shopping warehouse clubs in 13 countries/territories that are located in Latin America and the Caribbean. In addition, the Company operates distribution centers and corporate offices in the United States. The Company’s reportable segments are based on management’s organization of these locations into operating segments by general geographic location, which are used by management in setting up management lines of responsibility, providing support services, and making operational decisions and assessments of financial performance. The Company’s operating segments are the United States, Latin America and the Caribbean. Segment amounts are presented after converting to U.S. dollars and consolidating eliminations. Certain revenues and operating costs included in the United States segment have not been allocated, as it is impractical to do so.

The Company has made reclassifications to the consolidated statements of income recorded during fiscal year 2014 (see Note 1 - Company Overview and Basis of Presentation). These reclassifications have been made to prior fiscal year amounts to conform to the presentation in the current fiscal year. The following table summarizes the impact of these reclassifications to the amounts reported for each segment (in thousands):



Three Month Period Ended November 30, 2012	United States Operations		Latin American Operations			Caribbean Operations			Total
Operating income -as previously reported	$	8,214	$	16,177		$	5,379		$	29,770
Reclassification - Gain/(Loss) asset disposals	—		(26		)	(31		)	(57		)
Operating income-as currently reported	$	8,214	$	16,151		$	5,348		$	29,713



Twelve Month Period Ended August 31, 2013	United States Operations		Latin American Operations			Caribbean Operations			Total
Operating income -as previously reported	$	34,132	$	70,383		$	23,420		$	127,935
Reclassification - Gain/(Loss) asset disposals	—		(637		)	(252		)	(889		)
Operating income-as currently reported	$	34,132	$	69,746		$	23,168		$	127,046

The following table summarizes by segment certain revenues, operating costs and balance sheet items (in thousands):



	United States Operations			Latin American Operations		Caribbean Operations		Reconciling Items⁽¹⁾			Total
Three Month Period Ended November 30, 2013
Revenue from external customers	$	5,721		$	407,820	$	192,060	$	—		$	605,601
Intersegment revenues	305,592			—		1,476		(307,068		)	—
Depreciation and amortization	572			3,863		2,219		—			6,654
Operating income	10,971			16,499		4,889		—			32,359
Net income	7,087			10,613		3,732		—			21,432
Capital expenditures, net	(426		)	14,761		3,953		—			18,288
Long-lived assets (other than deferred tax assets)	10,096			320,754		117,303		—			448,153
Goodwill	—			31,461		4,828		—			36,289
Identifiable assets	50,711			588,239		241,612		—			880,562
Three Month Period Ended November 30, 2012
Revenue from external customers	$	3,073		$	356,747	$	175,466				$	535,286
Intersegment revenues	229,260			24		1,467		(230,751		)	—
Depreciation and amortization	490			2,986		2,208					5,684
Operating income	8,214			16,151		5,348					29,713
Net income	5,622			10,649		3,734					20,005
Capital expenditures, net	242			11,684		2,737					14,663
Long-lived assets (other than deferred tax assets)	17,529			260,381		116,277		—			394,187
Goodwill	—			31,737		5,084		—			36,821
Identifiable assets	75,691			484,455		219,758		—			779,904
As of August 31, 2013
Long-lived assets (other than deferred tax assets)	$	19,114		$	304,731	$	113,742	$	—		$	437,587
Goodwill	—			31,474		4,890		—			36,364
Identifiable assets	103,844			518,313		203,882		—			826,039


⁽¹⁾	The reconciling items reflect the amount eliminated on consolidation of intersegment transactions.