DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

May 31, 2021

Derivative [Line Items]

Schedule of Interest Rate Derivatives

Subsidiary

Date
‎Entered
‎into

Derivative
‎Financial
‎Counter-
‎party

Derivative
‎Financial
‎Instruments

Initial
‎US$
‎Notional
‎Amount

Bank
‎US$
‎loan
‎Held
‎with

Floating Leg
‎(swap
‎counter-party)

Fixed Rate
‎for PSMT
‎Subsidiary

Settlement
‎Dates

Effective
‎Period of swap

Colombia

3-Dec-19

Citibank, N.A. ("Citi")

Cross currency interest rate swap

7,875,000

Citibank, N.A.

Variable rate 3-month Libor plus 2.45%

7.87

3rd day of each December, March, June, and September, beginning on March 3, 2020

December 3, 2019 -
‎December 3, 2024

Colombia

27-Nov-19

Citibank, N.A. ("Citi")

Cross currency interest rate swap

25,000,000

Citibank, N.A.

Variable rate 3-month Libor plus 2.45%

7.93

27th day of each November, February, May and August beginning February 27, 2020

November 27, 2019 -
‎November 27, 2024

Colombia

24-Sep-19

Citibank, N.A. ("Citi")

Cross currency interest rate swap

12,500,000

PriceSmart, Inc.

Variable rate 3-month Libor plus 2.50%

7.09

24th day of each December, March, June and September beginning December 24, 2019

September 24, 2019 -
‎September 26, 2022

Panama

25-Jun-18

Bank of Nova Scotia ("Scotiabank")

Interest rate swap

14,625,000

Bank of Nova Scotia

Variable rate 3-month Libor plus 3.0%

5.99

23rd day of each month beginning on July 23, 2018

June 25, 2018 -
‎March 23, 2023

Honduras

26-Feb-18

Citibank, N.A. ("Citi")

Cross currency interest rate swap

13,500,000

Citibank, N.A.

Variable rate 3-month Libor plus 3.00%

9.75

29th day of May, August, November and February beginning May 29, 2018

February 26, 2018 -
‎February 24, 2024

PriceSmart, Inc

7-Nov-16

MUFG Union Bank, N.A. ("Union Bank")

Interest rate swap

35,700,000

Union Bank

Variable rate 1-month Libor plus 1.7%

3.65

1st day of each month beginning on April 1, 2017

March 1, 2017 - March 1, 2027

Schedule of Notional Amounts of Outstanding Derivative Positions



	Notional Amount as of
	May 31,		August 31,
Floating Rate Payer (Swap Counterparty)	2021		2020
Union Bank	$	32,938	$	33,894
Citibank N.A.		52,201		55,086
Scotiabank		10,500		11,625
Total	$	95,639	$	100,605

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value


		May 31, 2021						August 31, 2020
Derivatives designated as cash flow hedging instruments	Balance Sheet ‎Classification	Fair ‎Value		Net Tax ‎Effect		Net ‎OCI		Fair ‎Value		Net Tax ‎Effect		Net ‎OCI
Cross-currency interest rate swaps	Other non-current assets	$	1,160	$	(353)	$	807	$	872	$	(265)	$	607
Interest rate swaps	Other long-term liabilities		(2,338)		547		(1,791)		(3,857)		898		(2,959)
Cross-currency interest rate swaps	Other long-term liabilities		(816)		245		(571)		(828)		248		(580)
Net fair value of derivatives designated as hedging instruments		$	(1,994)	$	439	$	(1,555)	$	(3,813)	$	881	$	(2,932)

Derivative Swaps [Member] | Cash Flow Hedging [Member] | Interest Expense [Member]

Derivative [Line Items]

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location



Income Statement Classification	Interest ‎expense on ‎borrowings⁽¹⁾		Cost of ‎swaps⁽²⁾		Total
Interest expense for the three months ended May 31, 2021	$	656	$	907	$	1,563
Interest expense for the three months ended May 31, 2020	$	1,067	$	620	$	1,687
Interest expense for the nine months ended May 31, 2021	$	2,015	$	2,785	$	4,800
Interest expense for the nine months ended May 31, 2020	$	3,287	$	1,477	$	4,764

⁽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.

Forward Foreign Exchange Contracts [Member]

Derivative [Line Items]

Schedule of Open Non-Deliverable Forward Foreign Exchange Contracts