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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Nov. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives
The following table summarizes agreements for which the Company has recorded cash flow hedge accounting for the three months ended November 30, 2024:
EntityDate
Entered
into		Derivative
Financial
Counter-
party		Derivative
Financial
Instruments		Initial
US$
Notional
Amount		US$
Loan
Held With		Floating Leg
(swap
counter-party)		Fixed Rate
for PSMT
Subsidiary		Settlement
Dates		Effective
Period of swap
Colombia subsidiary25-Nov-24Citibank, N.A. ("Citi")Cross currency interest rate swap$18,700,000PriceSmart, Inc.6.00%10.91 %27th day of each November, February, May and August beginning on February 27, 2025November 27, 2024 - November 27, 2027
Colombia subsidiary15-Nov-24Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.3.00%7.61 %17th day of each February, May, August and November beginning on February 18, 2025November 18, 2024 - November 17, 2026
Colombia subsidiary19-Sep-24Citibank, N.A. ("Citi")Cross currency interest rate swap$12,500,000PriceSmart, Inc.4.00%9.15 %24th day of each September, December, March and June beginning on December 24, 2024September 24, 2024 - September 24, 2029
Colombia subsidiary30-Nov-23Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.5.00%11.27 %30th day of each November, May, August and 28th day of each February (except in case of a leap year, 29th day of each February) beginning on February 29, 2024November 30, 2023 - November 30, 2026
Colombia subsidiary12-Apr-23Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.4.00%11.40 %11th day of each July, October, January and April, beginning on July 11, 2023April 12, 2023 - April 11, 2028
Colombia subsidiary3-May-22Citibank, N.A. ("Citi")Cross currency interest rate swap$10,000,000PriceSmart, Inc.3.00%9.04 %3rd day of each May, August, November and February, beginning on August 3, 2022May 3, 2022 - May 3, 2027
Colombia subsidiary3-Dec-19Citibank, N.A. ("Citi")Cross currency interest rate swap$7,875,000Citibank, N.A.
Variable rate 3-month SOFR plus 2.45%
7.87 %3rd day of each December, March, June and September beginning March 3, 2020December 3, 2019 - December 3, 2024
Panama subsidiary11-Jul-24Bank of Nova Scotia ("Scotiabank")Interest rate swap$16,500,000Bank of Nova Scotia
3-month SOFR with a 2.95% floor
4.43 %1st day of each March, June, September and December beginning June 3, 2024February 29, 2024 - March 1, 2029
PriceSmart, Inc.7-Nov-16U.S. Bank, N.A. ("U.S. Bank")Interest rate swap$35,700,000U.S. Bank
Variable rate 3-month SOFR plus 1.7%
3.65 %1st day of each month beginning on April 1, 2017March 1, 2017 - March 1, 2027
Schedule of Cash Flow Hedging Instruments
For the three months ended November 30, 2024 and November 30, 2023, the Company included the gain or loss on the hedged items (that is, variable-rate borrowings) in the same line item—interest expense—as the offsetting gain or loss on the related interest rate swaps as follows (in thousands):
Income Statement Classification
Interest expense on borrowings(1)
Cost of swaps(2)
Total
Interest expense for the three months ended November 30, 2024$1,225 $397 $1,622 
Interest expense for the three months ended November 30, 2023$1,062 $415 $1,477 
(1)This amount is representative of the interest expense recognized on the underlying hedged transactions.
(2)This amount is representative of the interest expense recognized on the interest rate swaps and cross-currency swaps designated as cash flow hedging instruments.
Schedule of Notional Amounts of Outstanding Derivative Positions
The total notional balance of the Company’s pay-fixed/receive-variable interest rate swaps and cross-currency interest rate swaps was as follows (in thousands):
 Notional Amount as of
Floating Rate Payer (Swap Counterparty)
November 30,
2024		August 31,
2024
U.S. Bank
$28,475 $28,794 
Citibank N.A.75,138 72,270 
Scotiabank16,500 16,500 
Total$120,113 $117,564 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value The table summarizes the effect of the fair value of interest rate swap and cross-currency interest rate swap derivative instruments that qualify for derivative hedge accounting and its associated tax effect on accumulated other comprehensive income/(loss) (in thousands):
November 30, 2024August 31, 2024
Derivatives designated as cash flow hedging instrumentsBalance Sheet
Classification		Fair
Value		Net Tax
Effect		Net
OCI		Fair
Value		Net Tax
Effect		Net
OCI
Cross-currency interest rate swaps
Other current assets
$816 $(286)$530 $4,030 $(1,411)$2,619 
Cross-currency interest rate swaps
Other non-current assets
1,684 (589)1,095 259 (90)169 
Cross-currency interest rate swapsOther current liabilities— — — (1,179)413 (766)
Cross-currency interest rate swapsOther long-term liabilities(1,354)474 (880)(1,778)622 (1,156)
Interest rate swapsOther non-current assets1,278 (286)992 1,223 (274)949 
Interest rate swapsOther long-term liabilities(207)58 (149)(322)90 (232)
Net fair value of derivatives designated as hedging instruments$2,217 $(629)$1,588 $2,233 $(650)$1,583 
Schedule of Open Non-Deliverable Forward Foreign Exchange Contract
The following table summarizes the non-deliverable forward foreign exchange contracts that are open as of November 30, 2024:
Financial Derivative
(Counterparty)		SubsidiaryDates
Entered into (Range)		Derivative Financial
Instrument		Total Notional
Amounts
(in thousands)		Settlement
 Dates (Range)
Citibank, N.A. ("Citi")Colombia21-May-2024 - 19-Nov-2024Forward foreign exchange contracts (USD)$26,500 18-Dec-2024 - 24-Jul-2025