COMPANY OVERVIEW AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Aug. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The following tables summarize the impact of this reclassification (in thousands):

	Years Ended August 31,
	2013			2012
Other income (expense), net – as previously reported	$	(1,843	)	$	(837	)
Loss/(gain) on disposal of assets, other income (expense), net reclassified to Loss/(gain) on disposal of assets, total operating expenses	889			312
Other income (expense), net – as currently reported	$	(954	)	$	(525	)
	Years Ended August 31,
	2013			2012
Composition of beginning balance other income (expense) – as previously reported:
Gain/(loss) on sale	$	(889	)	$	(312	)
Currency gain/(loss)	(954		)	(525		)
Total	$	(1,843	)	(837		)
Composition of ending balance Other income (expense) – as currently reported:
Gain/(loss) on sale	$	—		$	—
Currency gain/(loss)	(954		)	(525		)
Total	$	(954	)	$	(525	)

The following table summarizes the impact of these reclassifications (in thousands):

	Total Fiscal Year 2012
Revenues:
Net warehouse club sales-as previously reported	$	2,000,046
Reclassifications	(682		)
Net warehouse club sales-as currently reported	$	1,999,364
Other income-as previously reported	$	8,422
Reclassifications	(4,900		)
Other income-as currently reported	$	3,522
Cost of goods sold:
Net warehouse club-as previously reported	$	1,704,131
Reclassifications	(2,799		)
Net warehouse club-as currently reported	$	1,701,332
Selling, general and administrative:
Warehouse club operations-as previously reported	$	182,401
Reclassifications	(2,783		)
Warehouse club operations-as currently reported	$	179,618
Net effect on operating income	$	—

The following tables summarize the impact of these reclassifications to the amounts reported for each segment (in thousands):

Twelve Month Period Ended August 31, 2012	United States Operations			Latin American Operations			Caribbean Operations			Total
Revenue from external customers-as previously reported	$	15,320		$	1,341,688		$	693,737		$	2,050,745
Reclassifications - front end sales	—			(388		)	(294		)	(682		)
Reclassifications - demonstration income	—			(3,865		)	(1,035		)	(4,900		)
Revenue from external customers-as currently reported	$	15,320		$	1,337,435		$	692,408		$	2,045,163
Operating income -as previously reported	30,750			57,657			19,519			107,926
Reclassification - Gain/(Loss) asset disposals	(3		)	(263		)	(46		)	(312		)
Operating income-as currently reported	$	30,747		$	57,394		$	19,473		$	107,614
Long-lived assets (other than deferred tax assets)-as previously reported	17,781			249,925			116,557			384,263
Reclassification- VAT to long lived assets	—			11,321			1,992			13,313
Reclassifications prepaid assets to long lived assets(1)	—			1,722			—			1,722
Long-lived assets (other than deferred tax assets)-as currently reported	$	17,781		$	262,968		$	118,549		$	399,298

⁽¹⁾  The Company reclassified prepaid expenses to long-lived assets within the Latin America Operations segment for approximately $1.7 million.