XML 20 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2018
Aug. 31, 2017
Aug. 31, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Net income $ 74,328 $ 90,724 $ 88,723
Other Comprehensive Income, net of tax:      
Foreign currency translation adjustments [1] (12,890) (6,297) (1,702)
Defined benefit pension plan:      
Net gain (loss) arising during period (87) (166) (182)
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 41 39 (20)
Total defined benefit pension plan (46) (127) (202)
Derivative instruments:      
Unrealized gains/(losses) on change in derivative obligations [2] (97) 81 1,826
Unrealized gains/(losses) on change in fair value of interest rate swaps [3] 1,882 254 (2,361)
Amounts reclassified from accumulated other comprehensive income (loss) to other income (expense), for settlement of derivatives [2] (6) (19)  
Total derivative instruments [2] 1,779 316 (535)
Other comprehensive income (loss) (11,157) (6,108) (2,439)
Comprehensive income 63,171 84,616 86,284
Less: (comprehensive income)/loss attributable to noncontrolling interest (1)    
Comprehensive income attributable to PriceSmart Inc. stockholders $ 63,170 $ 84,616 $ 86,284
[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 12 - Derivative Instruments and Hedging Activities.
[3] Unrealized gains/(losses) on change in fair value of interest rate swaps includes $248,000 of adjustments related to the revaluation of derivative fair market value accounts.