STOCKHOLDERS' EQUITY

9 Months Ended

May 31, 2022

STOCKHOLDERS' EQUITY [Abstract]

STOCKHOLDERS' EQUITY

NOTE 5 – STOCKHOLDERS’ EQUITY

Dividends

The following table summarizes the dividends declared and paid during fiscal year 2022 and 2021 (amounts are per share):

First Payment

Second Payment

Declared

Amount

Record ‎Date

Date ‎Paid

Date ‎Payable

Amount

Record ‎Date

Date ‎Paid

Date ‎Payable

Amount

2/3/2022

$

0.86

2/15/2022

2/28/2022

N/A

$

0.43

8/15/2022

N/A

8/31/2022

$

0.43

2/4/2021

$

0.70

2/15/2021

2/26/2021

N/A

$

0.35

8/15/2021

8/31/2021

N/A

$

0.35

The Company anticipates the ongoing payment of semi-annual dividends in subsequent periods, although the actual declaration of future dividends, if any, the amount of such dividends, and the establishment of record and payment dates is subject to final determination by the Board of Directors at its discretion after its review of the Company’s financial performance and anticipated capital requirements, taking into account the uncertainty surrounding the ongoing effects of the COVID-19 pandemic on our results of operations and cash flows.

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss

The following tables disclose the effects on accumulated other comprehensive loss of each component of other comprehensive income (loss), net of tax (in thousands):

	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 2021	$	(182,508)	$	251	$	(182,257)
Foreign currency translation adjustments		(15,119)		3		(15,116)
Defined benefit pension plans (1)		140		—		140
Derivative instruments (2)		4,339		—		4,339
Sale of Aeropost		—		(254)		(254)
Ending balance, May 31, 2022	$	(193,148)	$	—	$	(193,148)

	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 2020	$	(176,820)	$	134	$	(176,686)
Foreign currency translation adjustments		(2,577)		91		(2,486)
Defined benefit pension plans (1)		164		—		164
Derivative Instruments (2)		1,865		—		1,865
Ending balance, May 31, 2021	$	(177,368)	$	225	$	(177,143)

	Attributable to		Noncontrolling
	PriceSmart		Interests		Total
Beginning balance, September 1, 2020	$	(176,820)	$	134	$	(176,686)
Foreign currency translation adjustments		(7,837)		117		(7,720)
Defined benefit pension plans (1)		(230)		—		(230)
Derivative Instruments (2)		2,252		—		2,252
Amounts reclassified from accumulated other comprehensive loss		127		—		127
Ending balance, August 31, 2021	$	(182,508)	$	251	$	(182,257)

⁽¹⁾Amounts reclassified from accumulated other comprehensive income (loss) related to the minimum pension liability are included in warehouse club and other operations in the Company's consolidated statements of income.

⁽²⁾Refer to Note 8 - Derivative Instruments and Hedging Activities.

Retained Earnings Not Available for Distribution

The following table summarizes retained earnings designated as legal reserves of various subsidiaries which cannot be distributed as dividends to PriceSmart, Inc. according to applicable statutory regulations (in thousands):

	May 31,		August 31,
	2022		2021
Retained earnings not available for distribution	$	8,554	$	8,022