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QUARTERLY FINANCIAL INFORMATION (Tables)
 12 Months Ended
Aug. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended,

 

Year Ended,

Fiscal Year 2018

 

Nov 30, 2017

 

Feb 28, 2018

 

 

May 31, 2018

 

Aug 31, 2018

 

Aug 31, 2018

Total revenues

 

$

 767,072 

 

$

 839,563 

 

 

$

 782,201 

 

$

 777,866 

 

$

 3,166,702 

Total cost of goods sold

 

$

 644,985 

 

$

 708,040 

 

 

$

 652,694 

 

$

 650,801 

 

$

 2,656,520 

Net income attributable to PriceSmart, Inc.

 

$

 22,490 

 

$

 14,148 

(1)

 

$

 18,694 

 

$

 18,996 

 

$

 74,328 

Basic net income per share

 

$

 0.74 

 

$

 0.47 

 

 

$

 0.61 

 

$

 0.62 

 

$

 2.44 

Diluted net income per share

 

$

 0.74 

 

$

 0.47 

 

 

$

 0.61 

 

$

 0.62 

 

$

 2.44 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended,

 

Year Ended,

Fiscal Year 2017

 

Nov 30, 2016

 

Feb 28, 2017

 

 

May 31, 2017

 

Aug 31, 2017

 

Aug 31, 2017

Total revenues

 

$

 739,572 

 

$

 793,296 

 

 

$

 730,258 

 

$

 733,502 

 

$

 2,996,628 

Total cost of goods sold

 

$

 618,671 

 

$

 667,563 

 

 

$

 617,598 

 

$

 615,920 

 

$

 2,519,752 

Net income attributable to PriceSmart, Inc.

 

$

 24,869 

 

$

 27,219 

 

 

$

 18,838 

 

$

 19,798 

 

$

 90,724 

Basic net income per share

 

$

 0.82 

 

$

 0.90 

 

 

$

 0.62 

 

$

 0.64 

 

$

 2.98 

Diluted net income per share

 

$

 0.82 

 

$

 0.90 

 

 

$

 0.62 

 

$

 0.64 

 

$

 2.98 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended,

 

Year Ended,

Fiscal Year 2016

 

Nov 30, 2015

 

Feb 29, 2016

 

 

May 31, 2016

 

Aug 31, 2016

 

Aug 31, 2016

Total revenues

 

$

 711,931 

 

$

 777,931 

 

 

$

 704,262 

 

$

 711,052 

 

$

 2,905,176 

Total cost of goods sold

 

$

 598,015 

 

$

 657,725 

 

 

$

 597,242 

 

$

 596,644 

 

$

 2,449,626 

Net income attributable to PriceSmart, Inc.

 

$

 23,672 

 

$

 25,942 

 

 

$

 16,837 

 

$

 22,272 

 

$

 88,723 

Basic net income per share

 

$

 0.78 

 

$

 0.85 

 

 

$

 0.55 

 

$

 0.74 

 

$

 2.92 

Diluted net income per share

 

$

 0.78 

 

$

 0.85 

 

 

$

 0.55 

 

$

 0.74 

 

$

 2.92 

 

(1)

In the second quarter of fiscal year 2018, the Company recorded its provisional tax estimate of $13.4 million as a result of the U.S. Tax Reform Transition Tax. The Company finalized its calculation of this Transition Tax in the fourth quarter of fiscal year 2018, reducing it to approximately $12.5 million.
Summary of Reclassifications on Financial Statements







 

 

 

 

 

 

 

 

 



 

November 30, 2017

Financial Statement Captions

 

As Previously Reported

 

Adjustment

 

As Restated

Cash and cash equivalents

 

$

 129,183 

 

$

 (39,339)

 

$

 89,844 

Short-term and long-term restricted cash

 

$

 3,359 

 

$

 —

 

$

 3,359 

Total cash and cash equivalents, and restricted cash as shown in the statement of cash flows

 

$

 132,542 

 

$

 (39,339)

 

$

 93,203 



 

 

 

 

 

 

 

 

 

Short-term investments

 

$

 —

 

$

 39,339 

 

$

 39,339 











 

 

 

 

 

 

 

 

 



 

For the Three Months Ended November 30, 2017

Statement of Cash Flows Captions

 

As Previously Reported

 

Adjustment

 

As Restated

Net cash provided by (used in) operating activities

 

$

 (10,163)

 

$

 —

 

$

 (10,163)



 

 

 

 

 

 

 

 

 

Investing Activities

 

 

 

 

 

 

 

 

 

Additions to property and equipment

 

$

 (19,752)

 

$

 —

 

$

 (19,752)

Short-term investments

 

 

 —

 

 

 (39,339)

 

 

 (39,339)

Proceeds from settlements of short-term investments

 

 

 —

 

 

 —

 

 

 —

Proceeds from disposal of property and equipment

 

 

 20 

 

 

 —

 

 

 20 

Net cash provided by (used in) investing activities

 

$

 (19,732)

 

$

 (39,339)

 

$

 (59,071)



 

 

 

 

 

 

 

 

 

Net cash provided by (used in) financing activities

 

$

 (5,296)

 

$

 —

 

$

 (5,296)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

$

 2,021 

 

$

 —

 

$

 2,021 

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

$

 (33,170)

 

$

 (39,339)

 

$

 (72,509)

Cash, cash equivalents, and restricted cash at beginning of period

 

$

 165,712 

 

$

 —

 

$

 165,712 

Cash, cash equivalents, and restricted cash at end of period

 

$

 132,542 

 

$

 (39,339)

 

$

 93,203 













 

 

 

 

 

 

 

 

 



 

February 28, 2018

Financial Statement Captions

 

As Previously Reported

 

Adjustment

 

As Restated

Cash and cash equivalents

 

$

 152,132 

 

$

 (58,745)

 

$

 93,387 

Short-term and long-term restricted cash

 

$

 3,479 

 

$

 —

 

$

 3,479 

Total cash and cash equivalents, and restricted cash as shown in the statement of cash flows

 

$

 155,611 

 

$

 (58,745)

 

$

 96,866 



 

 

 

 

 

 

 

 

 

Short-term investments

 

$

 —

 

$

 58,745 

 

$

 58,745 









 

 

 

 

 

 

 

 

 



 

For the Six Months Ended February 28, 2018

Statement of Cash Flows Captions

 

As Previously Reported

 

Adjustment

 

As Restated

Net cash provided by (used in) operating activities

 

$

 59,079 

 

$

 —

 

$

 59,079 



 

 

 

 

 

 

 

 

 

Investing Activities

 

 

 

 

 

 

 

 

 

Additions to property and equipment

 

$

 (46,233)

 

$

 —

 

$

 (46,233)

Short-term investments

 

 

 —

 

 

 (66,388)

 

 

 (66,388)

Proceeds from settlements of short-term investments

 

 

 —

 

 

 7,643 

 

 

 7,643 

Proceeds from disposal of property and equipment

 

 

 54 

 

 

 —

 

 

 54 

Net cash provided by (used in) investing activities

 

$

 (46,179)

 

$

 (58,745)

 

$

 (104,924)



 

 

 

 

 

 

 

 

 —

Net cash provided by (used in) financing activities

 

$

 (21,859)

 

$

 —

 

$

 (21,859)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

$

 (1,142)

 

$

 —

 

$

 (1,142)

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

$

 (10,101)

 

$

 (58,745)

 

$

 (68,846)

Cash, cash equivalents, and restricted cash at beginning of period

 

$

 165,712 

 

$

 —

 

$

 165,712 

Cash, cash equivalents, and restricted cash at end of period

 

$

 155,611 

 

$

 (58,745)

 

$

 96,866 









 

 

 

 

 

 

 

 

 



 

May 31, 2018

Financial Statement Captions

 

As Previously Reported

 

Adjustment

 

As Restated

Cash and cash equivalents

 

$

 141,164 

 

$

 (53,890)

 

$

 87,274 

Short-term and long-term restricted cash

 

$

 3,649 

 

$

 —

 

$

 3,649 

Total cash and cash equivalents, and restricted cash as shown in the statement of cash flows

 

$

 144,813 

 

$

 (53,890)

 

$

 90,923 



 

 

 

 

 

 

 

 

 

Short-term investments

 

$

 —

 

$

 53,890 

 

$

 53,890 









 

 

 

 

 

 

 

 

 



 

For the Nine Months Ended May 31, 2018

Statement of Cash Flows Captions

 

As Previously Reported

 

Adjustment

 

As Restated

Net cash provided by (used in) operating activities

 

$

 90,765 

 

$

 —

 

$

 90,765 



 

 

 

 

 

 

 

 

 

Investing Activities

 

 

 

 

 

 

 

 

 

Business acquisition, net of cash acquired

 

$

 (23,895)

 

$

 —

 

$

 (23,895)

Additions to property and equipment

 

 

 (74,788)

 

 

 —

 

 

 (74,788)

Short-term investments

 

 

 —

 

 

 (72,953)

 

 

 (72,953)

Proceeds from settlements of short-term investments

 

 

 —

 

 

 19,063 

 

 

 19,063 

Deposits for land purchase option agreements

 

 

 300 

 

 

 —

 

 

 300 

Proceeds from disposal of property and equipment

 

 

 93 

 

 

 —

 

 

 93 

Net cash provided by (used in) investing activities

 

$

 (98,290)

 

$

 (53,890)

 

$

 (152,180)



 

 

 

 

 

 

 

 

 

Net cash provided by (used in) financing activities

 

$

 (12,389)

 

$

 —

 

$

 (12,389)

Effect of exchange rate changes on cash and cash equivalents and restricted cash

 

$

 (985)

 

$

 —

 

$

 (985)

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

$

 (20,899)

 

$

 (53,890)

 

$

 (74,789)

Cash, cash equivalents, and restricted cash at beginning of period

 

$

 165,712 

 

$

 —

 

$

 165,712 

Cash, cash equivalents, and restricted cash at end of period

 

$

 144,813 

 

$

 (53,890)

 

$

 90,923