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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Statement (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Aug. 31, 2014
Aug. 31, 2013
Aug. 31, 2012
Net income attributable to PriceSmart $ 92,886 $ 84,265 [1] $ 67,621
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (8,089) [2] (10,359) [2] (1,187) [2]
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax 260 (68) 185
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax 5 [3] (10) [3] 14 [3]
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax 265 (78) 199
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax 101 [4],[5] 2,144 [4],[5] (398) [4],[5]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax (88) [4],[5],[6] 0 [4] 0 [4]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 13 [4] 2,144 [4] (398) [4]
Foreign currency translation differences for merger of foreign operations 0 [7] 0 [7] (5,604) [4],[7]
Other Comprehensive Income (Loss), Correction of Prior Year Foreign Currency Transaction and Translation Adjustment, Net of Tax 0 [7] 0 [7] (3,277) [4],[7]
Other Comprehensive Income (Loss), Net of Tax (7,811) (8,293) (10,267)
Comprehensive Income (Loss), Net of Tax $ 85,075 $ 75,972 $ 57,354
[1] (1) The fiscal year 2013 and 2012 data has been updated to reflect the reclassifications as disclosed in Note 1 - Company Overview and Basis of Presentation.
[2] (1) Translation adjustments arising in translating the financial statements of a foreign entity have no effect on the income taxes of that foreign entity. They may, however, affect: (a) the amount, measured in the parent entity's reporting currency, of withholding taxes assessed on dividends paid to the parent entity and (b) the amount of taxes assessed on the parent entity by the government of its country. The Company has determined that the reinvestment of earnings of its foreign subsidiaries are indefinite because of the long-term nature of the Company's foreign investment plans. Therefore, deferred taxes are not provided for on translation adjustments related to unremitted earnings of the Company's foreign subsidiaries.
[3] (3) Amounts reclassified from accumulated other comprehensive income (loss) related to the minimum pension liability are included in warehouse club operations in the Company's Consolidated Statements of Income.
[4] (2) See Note 12 - Derivative Instruments and Hedging Activities.
[5] (2) See Note 12 - Derivative Instruments and Hedging Activities
[6] (4) Amounts reclassified from accumulated other comprehensive income (loss) for settlement of derivative instruments are included in other income (expense), net in the Company's Consolidated Statements of Income.
[7] 3) See Note 1 - Company Overview and Basis of Presentation.