COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Nov. 30, 2017

Schedule of Future Minimum Lease Commitments

	Open
Years ended November 30,	Locations(1)
2018	$	12,113
2019		11,715
2020		10,795
2021		9,339
2022		9,027
Thereafter		113,822
Total	$	166,811	(2)

⁽¹⁾ Operating lease obligations have been reduced by approximately $883,000 to reflect sub-lease income.  Certain obligations under leasing arrangements are collateralized by the underlying asset being leased.

⁽²⁾ Future minimum lease payments include $3.0 million of lease payment obligations for the prior leased Miami distribution center.  For the purposes of calculating the minimum lease payments, no reduction was considered for the potential sub-lease income the Company could receive during the remaining lease term.  This potential sub-lease income was considered, however, for the purposes of calculating the exit obligation of $50,000 recorded on the balance sheet as of November 30, 2017.  Projected income for any executed sub-leases would be used to reduce the amount reported as minimum lease payments.

Schedule of Variable Interest Entities Maximum Loss Exposure

Entity	% Ownership		Initial Investment		Additional Investments		Net (Loss)/Income Inception to Date		Company’s Variable Interest in Entity		Commitment to Future Additional Investments(1)		Company's Maximum Exposure to Loss in Entity(2)
GolfPark Plaza, S.A.	50	%	$	4,616	$	2,402	$	301	$	7,319	$	99	$	7,418
Price Plaza Alajuela, S.A.	50	%		2,193		1,236		33		3,462		785		4,247
Total			$	6,809	$	3,638	$	334	$	10,781	$	884	$	11,665

⁽¹⁾ The parties intend to seek alternate financing for the project, which could reduce the amount of investments each party would be required to provide.  The parties may mutually agree on changes to the project, which could increase or decrease the amount of contributions each party is required to provide.

⁽²⁾ The maximum exposure is determined by adding the Company’s variable interest in the entity and any explicit or implicit arrangements that could require the Company to provide additional financial support.