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):



Nine Month Period Ended May 31, 2013	United States Operations		Latin American Operations			Caribbean Operations			Total
Operating income -as previously reported	$	25,103	$	53,151		$	16,705		$	94,959
Reclassification - Gain/(Loss) asset disposals	—		(297		)	(56		)	(353		)
Operating income-as currently reported	$	25,103	$	52,854		$	16,649		$	94,606



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
Nine Month Period Ended May 31, 2014
Revenue from external customers	$	19,062	$	1,280,311	$	595,639	$	—		$	1,895,012
Intersegment revenues	738,579		—		4,030		(742,609		)	—
Depreciation and amortization	1,701		12,466		6,765		—			20,932
Operating income	29,113		54,596		19,228		—			102,937
Net income	19,085		37,676		14,269		—			71,030
Capital expenditures, net	4,869		70,682		7,223		—			82,774
Long-lived assets (other than deferred tax assets)	14,272		365,903		114,268		—			494,443
Goodwill	—		31,430		4,746		—			36,176
Total assets	77,648		602,365		218,438		—			898,451
Nine Month Period Ended May 31, 2013
Revenue from external customers	$	15,620	$	1,147,275	$	551,523	$	—		$	1,714,418
Intersegment revenues	659,166		—		3,565		(662,731		)	—
Depreciation and amortization	1,552		9,737		6,654		—			17,943
Operating income	25,103		52,854		16,649		—			94,606
Net income	17,628		34,404		11,394		—			63,426
Capital expenditures, net	322		46,517		5,544		—			52,383
Long-lived assets (other than deferred tax assets)	16,559		295,967		116,124		—			428,650
Goodwill	—		31,683		4,939		—			36,622
Total assets	76,730		508,798		206,966		—			792,494
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
Total assets	103,844		518,313		203,882		—			826,039


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