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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Aug. 31, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Net income $ 104,553 $ 98,159 $ 78,181
Less: net income attributable to noncontrolling interest (19) (196) (72)
Net income attributable to PriceSmart, Inc. 104,534 97,963 78,109
Other Comprehensive Income, net of tax:      
Foreign currency translation adjustments [1] (19,034) (7,837) (29,413)
Defined benefit pension plan:      
Net loss arising during period (341) (230) (79)
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 127 127 93
Total defined benefit pension plan (214) (103) 14
Derivative instruments:      
Unrealized losses on change in derivative obligations [2] (4,021) (140) (490)
Unrealized gains/(losses) on change in fair value of interest rate swaps [2] 10,191 2,392 (5,313)
Amounts reclassified from accumulated other comprehensive income to other expense, net for settlement of derivatives [2]     2,721
Total derivative instruments [2] 6,170 2,252 (3,082)
Other comprehensive loss (13,078) (5,688) (32,481)
Comprehensive income 91,456 92,275 45,628
Less: comprehensive income attributable to noncontrolling interest 3 117 114
Comprehensive income attributable to PriceSmart, Inc. stockholders $ 91,453 $ 92,158 $ 45,514
[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 indefinite 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.