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SEGMENTS
6 Months Ended
Feb. 28, 2023
Segment Reporting [Abstract]  
SEGMENTS SEGMENTSThe Company and its subsidiaries are principally engaged in the international operation of membership shopping in 50 warehouse clubs located in 12 countries and one U.S. territory that are located in Central America, the Caribbean and Colombia. In addition, the Company operates distribution centers and corporate offices in the United States. The Company has aggregated its warehouse clubs, distribution centers and corporate offices into reportable segments. 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. Segment amounts are presented after converting to U.S. dollars and consolidating eliminations. Certain revenues, operating costs and inter-company charges included in the United States segment are not allocated to the segments within this presentation, as it is impractical to do so, and they appear as reconciling items to reflect the amount eliminated on consolidation of intersegment transactions. From time to time, the Company revises the measurement of each segment's operating income and net income, including certain corporate overhead allocations, and other measures as determined by the information regularly reviewed by management. When the Company does so, the previous period amounts and balances are reclassified to conform to the current period's presentation.
The following tables summarize by segment certain revenues, operating costs and balance sheet items (in thousands):
United
States
Operations
Central
American
Operations
Caribbean
Operations(1)
Colombia Operations
Reconciling
Items(2)
Total
Three Months Ended February 28, 2023
Revenue from external customers$6,882 $694,210 $332,306 $108,791 $— $1,142,189 
Intersegment revenues365,177 6,801 1,137 1,175 (374,290)— 
Depreciation, Property and equipment1,478 8,925 4,792 2,299 — 17,494 
Amortization, Intangibles381 — — — — 381 
Operating income (loss)6,964 56,633 25,474 4,662 (39,933)53,800 
Net income (loss) attributable to PriceSmart, Inc.1,279 46,442 20,424 3,135 (39,933)31,347 
Capital expenditures, net3,338 16,067 3,968 5,031 — 28,404 
Six Months Ended February 28, 2023
Revenue from external customers$17,340 $1,323,289 $639,831 $216,535 $— $2,196,995 
Intersegment revenues772,817 13,383 2,651 1,880 (790,731)— 
Depreciation, Property and equipment2,856 17,724 9,423 4,675 — 34,678 
Amortization, Intangibles765 — — — — 765 
Operating income (loss)20,556 106,763 49,977 9,530 (77,499)109,327 
Net income (loss) attributable to PriceSmart, Inc.7,104 88,448 39,708 6,491 (77,499)64,252 
Long-lived assets (other than deferred tax assets)74,226 524,474 209,684 169,934 — 978,318 
Goodwill8,981 24,149 10,055 — — 43,185 
Total assets221,076 959,064 474,637 231,395 — 1,886,172 
Capital expenditures, net8,829 28,311 7,369 9,314 — 53,823 
Three Months Ended February 28, 2022
Revenue from external customers$8,722 $614,381 $293,680 $121,774 $— $1,038,557 
Intersegment revenues372,536 5,030 1,333 779 (379,678)— 
Depreciation, Property and equipment1,541 8,598 4,023 2,556 — 16,718 
Amortization, Intangibles380 — — — — 380 
Operating income (loss)8,299 46,052 21,755 6,124 (33,908)48,322 
Net income (loss) attributable to PriceSmart, Inc.3,176 38,750 17,624 5,819 (33,908)31,461 
Capital expenditures, net1,298 13,361 14,974 3,702 — 33,335 
Six Months Ended February 28, 2022
Revenue from external customers$22,706 $1,185,885 $566,168 $239,154 $— $2,013,913 
Intersegment revenues786,879 10,028 2,777 1,601 (801,285)— 
Depreciation, Property and equipment2,006 16,898 8,041 4,920 — 31,865 
Amortization, Intangibles836 — — — — 836 
Operating income (loss)14,556 89,431 41,633 12,502 (63,783)94,339 
Net income (loss) attributable to PriceSmart, Inc.6,548 74,650 34,074 10,502 (63,802)61,972 
Long-lived assets (other than deferred tax assets)75,543 497,585 212,418 176,911 — 962,457 
Goodwill8,982 24,309 10,043 — — 43,334 
Total assets191,677 860,718 463,236 257,699 — 1,773,330 
Capital expenditures, net3,207 26,051 22,047 16,085 — 67,390 
As of August 31, 2022
Long-lived assets (other than deferred tax assets)$71,743 $498,204 $218,021 $175,194 $— $963,162 
Goodwill
8,981 24,250 10,072 — — 43,303 
Investment in unconsolidated affiliates
— 10,534 — — — 10,534 
Total assets230,411 867,898 474,411 235,680 — 1,808,400 
(1)Management considers its club in the U.S. Virgin Islands to be part of its Caribbean operations.
(2)The reconciling items reflect the amount eliminated on consolidation of intersegment transactions.