XML 129 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Aug. 31, 2017
Revenues:      
Net merchandise sales $ 3,091,648 $ 3,053,754 $ 2,910,062
Export sales 30,981 40,581 34,244
Membership income 52,149 50,821 47,743
Other revenue and income 49,140 21,546 4,579
Total revenues 3,223,918 3,166,702 2,996,628
Cost of goods sold:      
Net merchandise sales 2,648,665 2,610,111 2,487,146
Export sales 29,524 38,740 32,606
Non-merchandise 17,502 7,669  
Selling, general and administrative:      
Warehouse club and other operations 307,823 291,488 268,629
General and administrative 101,432 88,461 70,013
Pre-opening expenses 2,726 913 44
Asset impairment   1,929  
Loss on disposal of assets 1,079 1,339 1,961
Total operating expenses 3,108,751 3,040,650 2,860,399
Operating income 115,167 126,052 136,229
Other income (expense):      
Interest income 1,489 1,415 1,809
Interest expense (3,939) (5,071) (6,777)
Other income (expense), net (1,607) 192 1,482
Total other income (expense) (4,057) (3,464) (3,486)
Income before provision for income taxes and income (loss) of unconsolidated affiliates 111,110 122,588 132,743
Provision for income taxes (37,560) (48,177) (42,018)
Income (loss) of unconsolidated affiliates (61) (8) (1)
Net income 73,489 74,403 90,724
Less: net (income) loss attributable to noncontrolling interest (298) (75)  
Net income attributable to PriceSmart, Inc. $ 73,191 [1] $ 74,328 [1] $ 90,724
Net income attributable to PriceSmart Inc. per share available for distribution:      
Basic $ 2.40 $ 2.44 $ 2.98
Diluted $ 2.40 $ 2.44 $ 2.98
Shares used in per share computations:      
Basic 30,195 30,115 30,020
Diluted 30,195 30,115 30,023
Dividends per share $ 0.70 $ 0.70 $ 0.70
[1] In March 2018, the Company acquired technology, talent and cross-border logistics infrastructure that operated a marketplace and casillero business. Investments in the technology, talent and infrastructure to expand our omni-channel capabilities, together with the operating results from the marketplace and casillero business, negatively impacted Net income attributable to PriceSmart, Inc. $14.5 million for the twelve months ended August 31, 2019. Management considers this business to be part of its United States operations.