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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
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May 31, 2017
Cash Flow Hedging [Member] |
Derivative [Line Items] |
Schedule of Interest Rate Derivatives |
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﻿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
﻿PriceSmart, Inc (1) |  | 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
﻿Costa Rica |  | 28-Aug-15 |  | Citibank, N.A. ("Citi") |  | Cross currency interest rate swap |  | $ | 7,500,000 |  | Citibank, N.A. |  | Variable rate 3-month Libor plus 2.50% |  | 7.65 | % |  | 28th day of August, November, February, and May beginning on November 30, 2015 |  | August 28, 2015 - August 28, 2020
﻿Honduras |  | 24-Mar-15 |  | Citibank, N.A. ("Citi") |  | Cross currency interest rate swap |  | $ | 8,500,000 |  | Citibank, N.A. |  | Variable rate 3-month Libor plus 3.25% |  | 10.75 | % |  | 24th day of March, June, September, and December beginning on June 24, 2015 |  | March 24,2015 - March 20, 2020
﻿El Salvador |  | 16-Dec-14 |  | Bank of Nova Scotia ("Scotiabank") |  | Interest rate swap |  | $ | 4,000,000 |  | Bank of Nova Scotia |  | Variable rate 30-day Libor plus 3.5% |  | 4.78 | % |  | 29th day of each month beginning on December 29, 2014 |  | December 1, 2014 - August 29, 2019
﻿Colombia |  | 10-Dec-14 |  | Citibank, N.A. ("Citi") |  | Cross currency interest rate swap |  | $ | 15,000,000 |  | Citibank, N.A. |  | Variable rate 3-month Libor plus 2.8% |  | 8.25 | % |  | 4th day of March, June, Sept, Dec. beginning on March 4, 2015 |  | December 4, 2014 - December 3, 2019
﻿Panama |  | 9-Dec-14 |  | Bank of Nova Scotia ("Scotiabank") |  | Interest rate swap |  | $ | 10,000,000 |  | Bank of Nova Scotia |  | Variable rate 30-day Libor plus 3.5% |  | 5.16 | % |  | 28th day of each month beginning December 29, 2014 |  | November 28, 2014 - November 29, 2019
﻿Honduras |  | 23-Oct-14 |  | Citibank, N.A. ("Citi") |  | Cross currency interest rate swap |  | $ | 5,000,000 |  | Citibank, N.A. |  | Variable rate 3-month Libor plus 3.5% |  | 11.6 | % |  | 22nd day of January, April, July, and October beginning on January 22, 2015 |  | October 22, 2014 - October 22, 2017
﻿Panama |  | 1-Aug-14 |  | Bank of Nova Scotia ("Scotiabank") |  | Interest rate swap |  | $ | 5,000,000 |  | Bank of Nova Scotia |  | Variable rate 30-day Libor plus 3.5% |  | 4.89 | % |  | 21st day of each month beginning on September 22, 2014 |  | August 21, 2014 - August 21, 2019
﻿Panama |  | 22-May-14 |  | Bank of Nova Scotia ("Scotiabank") |  | Interest rate swap |  | $ | 19,800,000 |  | Bank of Nova Scotia |  | Variable rate 30-day Libor plus 3.5% |  | 4.98 | % |  | 4th day of each month beginning on June 4, 2014 |  | May 5, 2014 - April 4, 2019
﻿Panama |  | 22-May-14 |  | Bank of Nova Scotia ("Scotiabank") |  | Interest rate swap |  | $ | 3,970,000 |  | Bank of Nova Scotia |  | Variable rate 30-day Libor plus 3.5% |  | 4.98 | % |  | 4th day of each month beginning on June 4, 2014 |  | May 5, 2014 - April 4, 2019
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| (1) |  | The initial notional amount and fixed rate were modified effective January 2017.
Fair Value Hedging [Member] |
Derivative [Line Items] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
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﻿Non-deliverable forward foreign exchange contracts |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value |
﻿Foreign currency forward contracts |  | Other current assets |  | $ | 3 |  | Other current assets |  | $ | 34 |
﻿Foreign currency forward contracts |  | Other accrued expenses |  |  | (400) |  | Other accrued expenses |  |  | (144) |
﻿Net fair value of non-deliverable forward foreign exchange contracts designated as hedging instruments that do not qualify for hedge accounting |  |  |  | $ | (397) |  |  |  | $ | (110) |
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Schedule of Derivative Assets and Liabilities at Fair Value |
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﻿ |  | Counterparty |  | Balance Sheet Location |  | Fair Value |  | Counterparty |  | Balance Sheet Location |  | Fair Value |
﻿Derivative Asset |  | Trinidad, Citibank |  |  | $ | 5,038 |  | PSMT, Inc., MUFG |  |  | $ | 5,060 |
﻿Derivative Liability |  | Trinidad, Citibank |  |  |  | (5,346) |  | PSMT, Inc., MUFG |  |  |  | (5,058) |
﻿ |  | Net Derivative Liability |  | Other accrued expenses | $ | (308) | (1) | Net Derivative Asset |  | Other current assets | $ | 2 | (1)
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| (1) |  | The net amount is included as part of the total net fair value of non-deliverable forward foreign exchange currency contracts designated as hedging instruments that do not qualify for derivative hedge accounting.
Derivative Swap [Member] | Cash Flow Hedging [Member] |
Derivative [Line Items] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
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﻿Derivatives designated as cash flow hedging instruments |  | Balance Sheet Location |  | Fair Value |  | Net Tax Effect |  | Net OCI |  | Fair Value |  | Net Tax Effect |  | Net OCI
﻿Cross-currency interest rate swaps |  | Other non-current assets |  | $ | 2,596 |  |  | (943) |  |  | 1,653 |  | $ | 3,224 |  | $ | (1,248) |  | $ | 1,976
﻿Interest rate swaps |  | Other non-current assets |  |  | 83 |  |  | (30) |  |  | 53 |  |  | — |  |  | — |  |  | —
﻿Interest rate swaps |  | Other long-term liabilities |  |  | (60) |  |  | 17 |  |  | (43) |  |  | (448) |  |  | 115 |  |  | (333)
﻿Cross-currency interest rate swaps |  | Other long-term liabilities |  |  | (540) |  |  | 162 |  |  | (378) |  |  | (1,066) |  |  | 320 |  |  | (746)
﻿Net fair value of derivatives designated as hedging instruments |  |  |  | $ | 2,079 |  | $ | (794) |  | $ | 1,285 |  | $ | 1,710 |  | $ | (813) |  | $ | 897
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Derivative Swap [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 |
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﻿Income Statement Classification |  | Interest expense on borrowings(1) |  | Cost of swaps (2) |  | Total
﻿Interest expense for the three months ended May 31, 2017 |  | $ | 1,080 |  | $ | 425 |  | $ | 1,505
﻿Interest expense for the three months ended May 31, 2016 |  | $ | 812 |  | $ | 461 |  | $ | 1,273
﻿Interest expense for the nine months ended May 31, 2017 |  | $ | 2,584 |  | $ | 1,206 |  | $ | 3,790
﻿Interest expense for the nine months ended May 31, 2016 |  | $ | 2,377 |  | $ | 1,478 |  | $ | 3,855
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| (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 cross-currency interest rate swaps designated as cash flow hedging instruments.
Interest Rate Swaps [Member] | Cash Flow Hedging [Member] |
Derivative [Line Items] |
Schedule of Notional Amounts of Outstanding Derivative Positions |
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﻿ |  | Notional Amount as of
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﻿ Floating Rate Payer (Swap Counterparty) |  | 2017 |  | 2016
﻿Scotiabank |  | $ | 28,358 |  | $ | 30,188
﻿Union Bank |  |  | 35,700 |  |  | —
﻿Citibank N.A. |  |  | 27,113 |  |  | 32,258
﻿Total |  | $ | 91,171 |  | $ | 62,446
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Forward Foreign Exchange Contracts [Member] | Fair Value Hedging [Member] |
Derivative [Line Items] |
Schedule of Notional Amounts of Outstanding Derivative Positions |
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﻿Subsidiary |  | Dates entered into |  | Financial Derivative (Counterparty) |  | Derivative Financial Instrument |  | Notional Amount (in thousands) |  | Settlement Date |  | Effective Period of Forward
﻿Costa Rica |  | Aug-16 |  | Citibank, N.A. |  | Forward foreign exchange contracts |  | $ | 3,750 |  | Aug-17 |  | August 31, 2016 - August 30, 2017
﻿Colombia |  | Mar-17 |  | Banco Colpatria |  | Forward foreign exchange contracts |  |  | 4,500 |  | Jun-17 |  | March 2017 - June 2017
﻿Trinidad |  | May-17 |  | Citibank, N.A. |  | Forward foreign exchange contracts (EUR) |  |  | 5,317 |  | Jun-17 |  | May 17, 2017 - June 16, 2017
﻿Trinidad |  | May-17 |  | Citibank, N.A. |  | Forward foreign exchange contracts (TTD) |  |  | 5,317 |  | Jun-17 |  | May 17, 2017 - June 16, 2017
﻿PSMT, Inc. |  | May-17 |  | MUFG Union Bank, N.A. |  | Forward foreign exchange contracts (USD) |  |  | 5,060 |  | Jun-17 |  | May 22, 2017 - June 21, 2017
﻿PSMT, Inc. |  | May-17 |  | MUFG Union Bank, N.A. |  | Forward foreign exchange contracts (EUR) |  |  | 5,060 |  | Jun-17 |  | May 22, 2017 - June 21, 2017
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Forward Foreign Exchange Contracts [Member] | Fair Value Hedging [Member] | Other Income (Expense) [Member] |
Derivative [Line Items] |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location |
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﻿ |  | Three Months Ended |  | Nine Months Ended
﻿ |  | May 31, |  | May 31, |  | May 31, |  | May 31,
﻿Income Statement Classification |  | 2017 |  | 2016 |  | 2017 |  | 2016
﻿Other income (expense), net |  | $ | (177) |  | $ | 23 |  | $ | 106 |  | $ | (128)
﻿

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