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SEGMENTS | 6 Months Ended
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Feb. 29, 2020
SEGMENTS [Abstract] |
SEGMENTS | NOTE 9 – SEGMENTS The Company and its subsidiaries are principally engaged in the international operation of membership shopping in 45 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, used by management and the Company's chief operating decision maker 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 the Company's chief operating decision maker. 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 29, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 18,848 |  | $ | 522,607 |  | $ | 261,683 |  | $ | 103,597 |  |  | — |  | $ | 906,735
Intersegment revenues |  |  | 287,362 |  |  | 3,909 |  |  | 860 |  |  | 547 |  |  | (292,678) |  |  | —
Depreciation, Property and equipment |  |  | 1,338 |  |  | 7,568 |  |  | 3,826 |  |  | 1,844 |  |  | — |  |  | 14,576
Amortization, Intangibles |  |  | 599 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 599
Operating income (loss) |  |  | 1,928 |  |  | 37,667 |  |  | 15,079 |  |  | 5,400 |  |  | (21,265) |  |  | 38,809
Net income (loss) attributable to PriceSmart, Inc. |  |  | (841) |  |  | 30,339 |  |  | 13,810 |  |  | 3,666 |  |  | (21,374) |  |  | 25,600
Capital expenditures, net |  |  | 3,489 |  |  | 18,128 |  |  | 7,230 |  |  | 4,465 |  |  | — |  |  | 33,312
Six Months Ended February 29, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 36,187 |  | $ | 989,409 |  | $ | 496,700 |  | $ | 196,380 |  | $ | — |  | $ | 1,718,676
Intersegment revenues |  |  | 637,312 |  |  | 7,954 |  |  | 2,079 |  |  | 1,083 |  |  | (648,428) |  |  | —
Depreciation, Property and equipment |  |  | 2,687 |  |  | 14,450 |  |  | 7,792 |  |  | 3,861 |  |  | — |  |  | 28,790
Amortization, Intangibles |  |  | 1,198 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,198
Operating income |  |  | 4,516 |  |  | 69,367 |  |  | 26,889 |  |  | 9,924 |  |  | (41,173) |  |  | 69,523
Net income (loss) attributable to PriceSmart, Inc. |  |  | (1,564) |  |  | 57,091 |  |  | 24,129 |  |  | 6,937 |  |  | (41,265) |  |  | 45,328
Long-lived assets (other than deferred tax assets) (3) |  |  | 86,306 |  |  | 477,195 |  |  | 187,641 |  |  | 145,981 |  |  | — |  |  | 897,123
Intangibles, net |  |  | 11,378 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,378
Goodwill |  |  | 10,695 |  |  | 24,522 |  |  | 10,196 |  |  | — |  |  | — |  |  | 45,413
Total assets |  |  | 157,116 |  |  | 723,673 |  |  | 390,000 |  |  | 227,503 |  |  | — |  |  | 1,498,292
Capital expenditures, net |  |  | 4,118 |  |  | 33,371 |  |  | 11,750 |  |  | 25,299 |  |  | — |  |  | 74,538
Three Months Ended February 28, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 16,821 |  | $ | 484,994 |  | $ | 249,360 |  | $ | 103,250 |  | $ | — |  | $ | 854,425
Intersegment revenues |  |  | 289,699 |  |  | 3,783 |  |  | 1,249 |  |  | 397 |  |  | (295,128) |  |  | —
Depreciation, Property and equipment |  |  | 1,950 |  |  | 6,003 |  |  | 3,439 |  |  | 2,121 |  |  | — |  |  | 13,513
Amortiazation, Intangibles |  |  | 593 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 593
Operating income (loss) |  |  | 4,477 |  |  | 35,574 |  |  | 15,024 |  |  | 3,617 |  |  | (22,156) |  |  | 36,536
Net income (loss) attributable to PriceSmart, Inc. |  |  | 1,596 |  |  | 28,099 |  |  | 13,037 |  |  | 3,289 |  |  | (22,211) |  |  | 23,810
Capital expenditures, net |  |  | 1,930 |  |  | 20,602 |  |  | 5,766 |  |  | 1,351 |  |  | — |  |  | 29,649
Six Months Ended February 28, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 34,160 |  | $ | 924,800 |  | $ | 474,369 |  | $ | 200,733 |  | $ | — |  | $ | 1,634,062
Intersegment revenues |  |  | 640,418 |  |  | 4,220 |  |  | 2,342 |  |  | 675 |  |  | (647,655) |  |  | —
Depreciation, Property and equipment |  |  | 3,910 |  |  | 11,873 |  |  | 6,630 |  |  | 4,224 |  |  | — |  |  | 26,637
Amortization, Intangibles |  |  | 1,192 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,192
Operating income |  |  | 3,427 |  |  | 64,366 |  |  | 27,051 |  |  | 7,033 |  |  | (40,671) |  |  | 61,206
Net income (loss) attributable to PriceSmart, Inc. |  |  | (2,229) |  |  | 52,284 |  |  | 23,022 |  |  | 6,104 |  |  | (40,759) |  |  | 38,422
Long-lived assets (other than deferred tax assets) |  |  | 89,594 |  |  | 331,289 |  |  | 151,729 |  |  | 114,258 |  |  | — |  |  | 686,870
Intangibles, net |  |  | 13,788 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,788
Goodwill |  |  | 11,315 |  |  | 24,670 |  |  | 10,278 |  |  | — |  |  | — |  |  | 46,263
Total assets |  |  | 149,192 |  |  | 592,121 |  |  | 329,049 |  |  | 187,868 |  |  | — |  |  | 1,258,230
Capital expenditures, net |  |  | 3,616 |  |  | 43,373 |  |  | 16,261 |  |  | 2,738 |  |  | — |  |  | 65,988
As of August 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-lived assets (other than deferred tax assets) |  | $ | 65,278 |  | $ | 383,665 |  | $ | 165,584 |  | $ | 115,838 |  | $ | — |  | $ | 730,365
Intangibles, net |  |  | 12,576 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,576
Goodwill |  |  | 11,315 |  |  | 24,593 |  |  | 10,193 |  |  | — |  |  | — |  |  | 46,101
Total assets |  |  | 161,583 |  |  | 614,579 |  |  | 340,216 |  |  | 180,033 |  |  | — |  |  | 1,296,411
(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. (3)Effective September 1, 2019, we adopted the requirements of Accounting Standards Update (ASU) 2016-02, "Leases (Topic 842)" (ASC 842) using the modified retrospective approach, under which financial results reported in prior periods were not restated. As a result, the Long-lived assets (other than deferred tax assets) as of February 29, 2020 is not comparable with that as of February 28, 2019 and August 31, 2019.

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- References No definition available. + Details
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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