SEGMENTS

The Company and its subsidiaries are principally engaged in the operation of membership shopping warehouse clubs in 13 countries/territories that are located in Latin America and the Caribbean. In addition, the Company operates distribution centers and corporate offices in the United States. The Company’s reportable segments are based on management’s organization of these locations into operating segments by general geographic location, which are used by management in setting up management lines of responsibility, providing support services, and making operational decisions and assessments of financial performance. The Company’s operating segments are the United States, Latin America and the Caribbean. Segment amounts are presented after converting to U.S. dollars and consolidating eliminations. Certain revenues and operating costs included in the United States segment have not been allocated, as it is impractical to do so.

The Company has made reclassifications to the consolidated statements of income recorded during fiscal year 2014 (see Note 1 - Company Overview and Basis of Presentation). These reclassifications have been made to prior fiscal year amounts to conform to the presentation in the current fiscal year. The following table summarizes the impact of these reclassifications to the amounts reported for each segment (in thousands):



Six Month Period Ended February 28, 2013	United States Operations		Latin American Operations			Caribbean Operations			Total
Operating income -as previously reported	$	17,464	$	36,300		$	12,455		$	66,219
Reclassification - Gain/(Loss) asset disposals	—		(71		)	(33		)	(104		)
Operating income-as currently reported	$	17,464	$	36,229		$	12,422		$	66,115



Twelve Month Period Ended August 31, 2013	United States Operations		Latin American Operations			Caribbean Operations			Total
Operating income -as previously reported	$	34,132	$	70,383		$	23,420		$	127,935
Reclassification - Gain/(Loss) asset disposals	—		(637		)	(252		)	(889		)
Operating income-as currently reported	$	34,132	$	69,746		$	23,168		$	127,046

The following table summarizes by segment certain revenues, operating costs and balance sheet items (in thousands):



	United States Operations		Latin American Operations		Caribbean Operations		Reconciling Items⁽¹⁾			Total
Six Month Period Ended February 28, 2014
Revenue from external customers	$	12,485	$	863,064	$	404,426	$	—		$	1,279,975
Intersegment revenues	514,694		—		2,619		(517,313		)	—
Depreciation and amortization	1,155		8,155		4,483		—			13,793
Operating income	21,582		37,585		12,567		—			71,734
Net income	14,245		25,954		9,511		—			49,710
Capital expenditures, net	3,139		49,294		5,663		—			58,096
Long-lived assets (other than deferred tax assets)	13,087		344,348		115,316		—			472,751
Goodwill	—		31,530		4,791		—			36,321
Total assets	57,377		558,426		218,513		—			834,316
Six Month Period Ended February 28, 2013
Revenue from external customers	$	9,396	$	762,515	$	370,785	$	—		$	1,142,696
Intersegment revenues	444,339		—		2,378		(446,717		)	—
Depreciation and amortization	1,010		6,285		4,420		—			11,715
Operating income	17,464		36,229		12,422		—			66,115
Net income	12,466		23,804		8,617		—			44,887
Capital expenditures, net	2,108		32,338		4,230		—			38,676
Long-lived assets (other than deferred tax assets)	18,874		277,978		114,913		—			411,765
Goodwill	—		31,717		4,982		—			36,699
Total assets	75,982		499,828		216,915		—			792,725
As of August 31, 2013
Long-lived assets (other than deferred tax assets)	$	19,114	$	304,731	$	113,742	$	—		$	437,587
Goodwill	—		31,474		4,890		—			36,364
Total assets	103,844		518,313		203,882		—			826,039


⁽¹⁾	The reconciling items reflect the amount eliminated on consolidation of intersegment transactions.