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DEBT (Tables)
 12 Months Ended
Aug. 31, 2015
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
The following table provides the changes in the Company's long-term debt for the twelve months ended August 31, 2015:
(Amounts in thousands)
 
Current Portion of Long-term debt
 
Long-term debt
 
Total
 
Balances as of August 31, 2014
 
$
11,848

 
$
79,591

 
$
91,439

(1) 
Proceeds from long-term debt incurred during the period:
 
 
 
 
 
 
 
Costa Rica subsidiary
 
750

 
6,750

 
7,500

 
Panama subsidiary
 
1,000

 
9,000

 
10,000

 
Honduras subsidiary
 
2,450

 
14,400

 
16,850

(2) 
Colombia subsidiary
 
1,500

 
13,500

 
15,000

 
Trinidad subsidiary
 
907

 
2,720

 
3,627

 
Repayments of long-term debt:
 
 
 
 
 
 
 
Repayment of loan by Honduras subsidiary, originally entered into on January 12, 2012 with Scotiabank El Salvador, S.A.
 
(3,200
)
 
—

 
(3,200
)
 
Partial repayment of loan by Honduras subsidiary, originally entered into on March 7, 2014 with Banco de America Central Honduras, S.A.
 
—

 
(5,000
)
 
(5,000
)
 
Repayment of loan by Honduras subsidiary, originally entered into on March 7, 2014 with Banco de America Central Honduras, S.A.
 
—

 
(8,195
)
 
(8,195
)
 
Repayment of loan by Honduras subsidiary, originally entered into on March 6, 2010 with Banco del Pais, S.A.

(87
)

—


(87
)
 
Repayment of loan by Trinidad subsidiary, originally entered into on August 26, 2008 with Royal Bank of Trinidad and Tobago, Ltd (RBTT)
 
(900
)
 
(2,325
)
 
(3,225
)
 
Repayment of loans by Colombia subsidiary
 
(16,000
)
 
(8,000
)
 
(24,000
)
(3) 
Regularly scheduled loan payments
 
(1,054
)
 
(10,145
)
 
(11,199
)
 
Reclassifications of long-term debt
 
21,554

 
(21,554
)
 
—

 
Translation adjustments on foreign-currency debt of subsidiaries whose functional currency is not the U.S. dollar (4)
 
(1,599
)
 
2,623

 
1,024

 
Balances as of August 31, 2015
 
$
17,169

 
$
73,365

 
$
90,534

(5) 

(1) 
The carrying amount on cash assets assigned as collateral for this total was $24.6 million and the carrying amount on non-cash assets assigned as collateral for this total was $84.2 million.
(2) 
Proceeds from the loans consist of three loans for approximately $3.4 million, $5.0 million and $8.5 million.
(3) 
Represents pay down of $16.0 million of Scotiabank & Trust (Cayman) Ltd. loans on March 14, 2011 and pay down of $8.0 million under an amended Scotiabank and Trust (Cayman) Ltd loan entered into on January 31, 2012. Pay downs of loans were made through a derivative agreement, See Note 12.
(4) 
These foreign currency translation adjustments are recorded within Other comprehensive income.
(5) 
No cash assets were assigned as collateral for this total and the carrying amount on non-cash assets assigned as collateral for this total was $104.1 million.
Schedule of short-term borrowings
The short-term borrowing facilities are summarized below (in thousands):
 
 
 
Facilities Used
 
 
 
 
 
Total Amount of Facilities
 
Short-term Borrowings
 
Letters of Credit
 
Facilities Available
 
Weighted average interest rate of loans outstanding
August 31, 2015
$
57,691

 
$
6,606

 
$
728

 
$
50,357

 
5.9
%
August 31, 2014
$
61,869

 
$
—

 
$
436

 
$
61,433

 
N/A



During the fiscal year 2014, PriceSmart, Inc. increased its short-term facilities by approximately $15.0 million and established short-term facilities within its Colombia subsidiary of approximately $10.9 million.
Schedule of long-term debt
Long-term debt consists of the following types of loans (in thousands):
 
August 31, 2015
 
August 31, 2014
Loans entered into by the Company's subsidiaries with a balloon payment due at the end of the loan term and with non-cash assets and/or cash or cash equivalents assigned as collateral and with/without established debt covenants
$
10,482

 
$
11,733

Loans entered into by the Company's subsidiaries for which the subsidiary has entered into an interest rate swap with non-cash assets and/or cash or cash equivalents assigned as collateral and with established debt covenants
34,050

 
28,200

Loans entered into by the Company's subsidiaries with non-cash assets and/or cash or cash equivalents assigned as collateral and with/without established debt covenants
15,465

 
28,974

Loans entered into by the Company's subsidiaries for which the subsidiary has entered into a cross-currency interest rate swap with non-cash assets and/or cash or cash equivalents assigned as collateral and with/without established debt covenants
30,537

 
22,532

Total long-term debt
90,534

 
91,439

Less: current portion
17,169


11,848

Long-term debt, net of current portion
$
73,365

 
$
79,591
Annual maturities of long-term debt
Annual maturities of long-term debt net of proceeds from hedging activities are as follows (in thousands):
Years Ended August 31,
Amount
 
2016
$
15,631

 
2017
12,306

 
2018
12,081

 
2019
22,810

 
2020
22,490

 
Thereafter
1,292

 
Total
$
86,610

(1)