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STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Aug. 31, 2023
Equity [Abstract]  
Schedule of Dividends
The following table summarizes the dividends declared and paid during fiscal years 2023, 2022 and 2021 (amounts are per share):
First PaymentSecond Payment
DeclaredAmountRecord
Date
Date
Paid
AmountRecord
Date
Date
Paid
Amount
2/3/2023$0.92 2/16/20232/28/2023$0.46 8/15/20238/31/2023$0.46 
2/3/2022$0.86 2/15/20222/28/2022$0.43 8/15/20228/31/2022$0.43 
2/4/2021$0.70 2/15/20212/26/2021$0.35 8/15/20218/31/2021$0.35 
Schedule of Components of Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss
The following tables disclose the effects on accumulated other comprehensive loss of each component of other comprehensive income (loss), net of tax (in thousands):
Attributable to
PriceSmart
Non-controlling
Interests
Total
Ending balance, August 31, 2020$(176,820)$134 $(176,686)
Foreign currency translation adjustments(7,837)117 (7,720)
Defined benefit pension plans (1)
(230)— (230)
Derivative instruments (2)
2,252 — 2,252 
Amounts reclassified from accumulated other comprehensive loss127 — 127 
Ending balance, August 31, 2021$(182,508)$251 $(182,257)
Foreign currency translation adjustments(19,034)(19,031)
Defined benefit pension plans (1)
(341)— (341)
Derivative instruments (2)
6,170 — 6,170 
Amounts reclassified from accumulated other comprehensive loss127 — 127 
Sale of Aeropost— (254)(254)
Ending balance, August 31, 2022$(195,586)$— $(195,586)
Foreign currency translation adjustments33,708 — 33,708 
Defined benefit pension plans (1)
(1,819)— (1,819)
Derivative instruments (2)
(443)— (443)
Amounts reclassified from accumulated other comprehensive loss148 — 148 
Ending balance, August 31, 2023$(163,992)$— $(163,992)
(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 13 - Derivative Instruments and Hedging Activities.”
Summary of 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):
August 31,
2023
August 31,
2022
Retained earnings not available for distribution$9,110$8,648
Schedule of Class of Treasury Stock
Share repurchase activity under the Company’s repurchase programs for the periods indicated was as follows (total cost in thousands):
Years Ended
August 31,
2023
August 31,
2022
Number of common shares acquired
71,530
Average price per common share acquired$78.54$
Total cost of common share acquired$5,618$