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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 138,875 $ 109,205 $ 104,553
Less: Net income attributable to noncontrolling interest 0 0 (19)
Net income attributable to PriceSmart, Inc. 138,875 109,205 104,534
Other Comprehensive Income, net of tax:      
Foreign currency translation adjustments [1] 693 33,708 (19,034)
Defined benefit pension plan:      
Net gain (loss) arising during period 501 (1,819) (341)
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 397 148 127
Total defined benefit pension plan 898 (1,671) (214)
Derivative instruments:      
Unrealized gains (losses) on change in derivative obligations [2] (566) 6,000 (4,021)
Unrealized gains (losses) on change in fair value of interest rate swaps [2] (1,623) (9,177) 10,191
Amounts reclassified from accumulated other comprehensive income to other expense, net for settlement of derivatives [2] 0 2,734 0
Total derivative instruments (2,189) [2] (443) 6,170
Other comprehensive income (loss) (598) 31,594 (13,078)
Comprehensive income     91,456
Comprehensive income 138,277 140,799  
Less: Comprehensive income attributable to noncontrolling interest 0 0 3
Comprehensive income attributable to PriceSmart, Inc. $ 138,277 $ 140,799 $ 91,453
[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 permanently reinvested for any jurisdiction where distribution from a foreign affiliate would cause additional tax cost 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] Refer to “Note 13 - Derivative Instruments and Hedging Activities.