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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
May 31, 2022
May 31, 2021
May 31, 2022
May 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Net income $ 19,258 $ 22,581 $ 81,249 $ 78,725
Less: net income attributable to noncontrolling interest (52) (19) (223)
Net income attributable to PriceSmart, Inc. 19,258 22,529 81,230 78,502
Other Comprehensive Income, net of tax:        
Foreign currency translation adjustments [1] (9,401) (3,007) (15,119) (2,577)
Defined benefit pension plan:        
Net gain arising during period 5 3 42 65
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 34 33 98 99
Total defined benefit pension plan 39 36 140 164
Derivative instruments:        
Unrealized gains/(losses) on change in derivative obligations [2] 272 (667) (147) 488
Unrealized gains on change in fair value of interest rate swaps [2] 355 1,048 4,486 1,377
Total derivative instruments [2] 627 381 4,339 1,865
Other comprehensive loss (8,735) (2,590) (10,640) (548)
Comprehensive income 10,523 19,939 70,590 77,954
Less: comprehensive income attributable to noncontrolling interest 33 3 91
Comprehensive income attributable to PriceSmart, Inc. $ 10,523 $ 19,906 $ 70,587 $ 77,863
[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.