SEGMENTS (Tables)

9 Months Ended

May 31, 2019

Summary of Segment Revenues, Operating Costs and Balance Sheet Items



	United States Operations		Central American Operations		Caribbean Operations (1)		Colombia Operations		Reconciling Items(2)		Total
Three Months Ended May 31, 2019
Revenue from external customers	$	17,454	$	448,118	$	228,586	$	94,398	$	—	$	788,556
Intersegment revenues		284,205		3,401		1,032		444		(289,082)		—
Depreciation, Property and equipment		1,312		6,200		3,551		2,132		—		13,195
Amortization, Intangibles		606		—		—		—		—		606
Operating income (loss)		1,139		26,314		10,295		3,294		(19,045)		21,997
Net income (loss) attributable to PriceSmart, Inc. (3)		(1,655)		22,725		9,514		2,528		(19,016)		14,096
Capital expenditures, net		143		13,322		8,010		1,093		—		22,568

Nine Months Ended May 31, 2019
Revenue from external customers	$	51,614	$	1,372,918	$	702,954	$	295,132	$	—	$	2,422,618
Intersegment revenues		924,624		7,620		3,375		1,119		(936,738)		—
Depreciation, Property and equipment		3,958		18,072		10,181		6,356		—		38,567
Amortization, Intangibles		1,798		—		—		—		—		1,798
Operating income		4,565		90,681		37,346		10,327		(59,716)		83,203
Net income (loss) attributable to PriceSmart, Inc. (3)		(3,885)		75,009		32,536		8,632		(59,774)		52,518
Long-lived assets (other than deferred tax assets)		85,638		339,950		157,186		105,384		—		688,158
Intangibles, net		13,182		—		—		—		—		13,182
Goodwill		11,315		24,606		10,237		—		—		46,158
Total assets		152,322		605,399		331,999		172,144		—		1,261,864
Capital expenditures, net		3,759		56,695		24,271		3,831		—		88,556

Three Months Ended May 31, 2018
Revenue from external customers	$	17,802	$	451,597	$	214,506	$	98,296	$	—	$	782,201
Intersegment revenues		291,925		—		1,087		376		(293,388)		—
Depreciation and amortization		2,245		6,050		2,934		2,337		—		13,566
Operating income/(loss)		(883)		31,257		11,538		2,989		(16,472)		28,429
Net income (loss) attributable to PriceSmart, Inc.		(2,792)		25,485		10,074		2,377		(16,450)		18,694
Capital expenditures, net		3,024		12,803		14,368		873		—		31,068

Nine Months Ended May 31, 2018
Revenue from external customers	$	35,087	$	1,397,668	$	663,317	$	292,764	$	—	$	2,388,836
Intersegment revenues		906,114		—		3,265		693		(910,072)		—
Depreciation and amortization		5,680		17,459		8,343		6,896		—		38,378
Operating income		3,354		100,463		36,763		8,198		(49,919)		98,859
Net income (loss) attributable to PriceSmart, Inc.		(17,182)		82,997		33,000		6,414		(49,897)		55,332
Long-lived assets (other than deferred tax assets)		72,343		312,468		148,789		125,699		—		659,299
Intangibles, net		15,593		—		—		—		—		15,593
Goodwill		16,033		30,770		4,548		—		—		51,351
Total assets		160,793		562,401		333,985		189,291		—		1,246,470
Capital expenditures, net		4,612		35,364		33,997		2,729		—		76,702

As of August 31, 2018
Long-lived assets (other than deferred tax assets)	$	67,650	$	320,612	$	150,516	$	118,284	$	—	$	657,062
Intangibles, net		14,980		—		—		—		—		14,980
Goodwill		11,230		30,646		4,453		—		—		46,329
Total assets		186,174		536,756		310,411		183,051		—		1,216,392

⁽¹⁾

Management considers its club in the U.S. Virgin Islands to be part of its Caribbean operations.

⁽²⁾

The reconciling items reflect the amount eliminated on consolidation of intersegment transactions.

⁽³⁾

In March 2018, the Company acquired technology, talent and cross-border logistics infrastructure that operated a marketplace and casillero business. Investments in the technology, talent and infrastructure to expand our omni-channel capabilities, together with the operating results from the marketplace and casillero business, negatively impacted Net income attributable to PriceSmart, Inc. by $2.9 million for the quarter and $11.0 million for the nine months ended May 31, 2019. Management considers this business to be part of its United States operations.