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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Nov. 30, 2019
Nov. 30, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]    
Net income $ 19,709 $ 14,645
Less: net (income) loss attributable to noncontrolling interest 19 (33)
Net income attributable to PriceSmart, Inc. 19,728 14,612
Other Comprehensive Income, net of tax:    
Foreign currency translation adjustments [1] (3,724) (13,397)
Defined benefit pension plan:    
Net gain arising during period 7 9
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 19 19
Total defined benefit pension plan 26 28
Derivative instruments:    
Unrealized losses on change in derivative obligations [2] (432) (306)
Unrealized gains on change in fair value of interest rate swaps [2] 941 429
Amounts reclassified from accumulated other comprehensive loss to other expense, for net settlement of derivatives [2] 4  
Total derivative instruments 513 123
Other comprehensive loss (3,185) (13,246)
Comprehensive income 16,543 1,366
Less: comprehensive income attributable to noncontrolling interest 34 1
Comprehensive income attributable to PriceSmart Inc. stockholders $ 16,509 $ 1,365
[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 8 - Derivative Instruments and Hedging Activities.