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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
May 31, 2018
May 31, 2017
May 31, 2018
May 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Net income attributable to PriceSmart, Inc. $ 18,694 $ 18,838 $ 55,332 $ 70,926
Other Comprehensive Income, net of tax:        
Foreign currency translation adjustments [1] (2,461) (3,074) (126) (4,700)
Defined benefit pension plan:        
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 42 43 101 29
Total defined benefit pension plan 42 43 101 29
Derivative instruments:        
Unrealized gains/(losses) on change in fair value of interest rate swaps [2] 79 (416) 1,516 364
Total derivative instruments [2] 79 (416) 1,516 364
Other comprehensive income (loss) (2,340) (3,447) 1,491 (4,307)
Comprehensive income 16,354 15,391 56,823 66,619
Less: comprehensive income/(loss) attributable to noncontrolling interest 8   8  
Comprehensive income attributable to PriceSmart Inc. stockholders $ 16,346 $ 15,391 $ 56,815 $ 66,619
[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 non-remitted earnings of the Company's foreign subsidiaries.
[2] See Note 7 - Derivative Instruments and Hedging Activities.