SEGMENTS

3 Months Ended

Nov. 30, 2023

Segment Reporting [Abstract]

SEGMENTS

SEGMENTS

The Company and its subsidiaries are principally engaged in the international operation of membership shopping in 53 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 November 30, 2023
Revenue from external customers	$	10,009	$	700,567	$	326,967	$	128,932	$	—	$	1,166,475
Intersegment revenues	446,337		6,092		1,400		1,025		(454,854)		—
Depreciation, property and equipment	1,324		10,010		4,821		3,339		—		19,494
Operating income	9,949		56,902		23,332		3,617		(35,587)		58,213
Net income	3,325		48,533		19,081		2,695		(35,587)		38,047
Long-lived assets (other than deferred tax assets)	72,359		578,707		214,936		208,054		—		1,074,056
Goodwill	8,981		24,110		10,044		—		—		43,135
Total assets	217,158		1,067,842		447,639		296,640		—		2,029,279
Capital expenditures, net	2,939		21,340		8,989		3,814		—		37,082
Three Months Ended November 30, 2022
Revenue from external customers	$	10,458	$	629,079	$	307,525	$	107,744	$	—	$	1,054,806
Intersegment revenues	407,640		6,582		1,514		705		(416,441)		—
Depreciation, property and equipment	1,378		8,799		4,631		2,376		—		17,184
Amortization, Intangibles	384		—		—		—		—		384
Operating income	13,592		50,130		24,503		4,868		(37,566)		55,527
Net income	5,825		42,006		19,284		3,356		(37,566)		32,905
Long-lived assets (other than deferred tax assets)	73,083		509,961		213,963		167,027		—		964,034
Goodwill	8,981		24,142		10,050		—		—		43,173
Total assets	238,551		924,049		492,744		232,576		—		1,887,920
Capital expenditures, net	5,491		12,244		3,401		4,283		—		25,419
As of August 31, 2023
Long-lived assets (other than deferred tax assets)	$	71,919	$	566,139	$	210,000	$	205,295	$	—	$	1,053,353
Goodwill	8,981		24,083		10,046		—		—		43,110
Investment in unconsolidated affiliates	—		10,479		—		—		—		10,479
Total assets	302,115		995,881		425,145		282,467		—		2,005,608

(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.