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STOCKHOLDERS' EQUITY | 12 Months Ended
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Aug. 31, 2021
STOCKHOLDERS' EQUITY [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 6 – STOCKHOLDERS’ EQUITY Dividends The following table summarizes the dividends declared and paid during fiscal years 2021, 2020 and 2019:
|  |  |  |  | First Payment |  | Second Payment
Declared |  | Amount |  | Record ‎Date |  | Date ‎Paid |  | Amount |  | Record ‎Date |  | Date ‎Paid |  | Amount
2/4/2021 |  | $ | 0.70 |  | 2/15/2021 |  | 2/26/2021 |  | $ | 0.35 |  | 8/15/2021 |  | 8/31/2021 |  | $ | 0.35
2/6/2020 |  | $ | 0.70 |  | 2/15/2020 |  | 2/28/2020 |  | $ | 0.35 |  | 8/15/2020 |  | 8/31/2020 |  | $ | 0.35
1/30/2019 |  | $ | 0.70 |  | 2/15/2019 |  | 2/28/2019 |  | $ | 0.35 |  | 8/15/2019 |  | 8/30/2019 |  | $ | 0.35
The Company anticipates the ongoing payment of semi-annual dividends in subsequent periods, although the actual declaration of future dividends, the amount of such dividends, and the establishment of record and payment dates is subject to final determination by the Board of Directors at its discretion after its review of the Company’s financial performance and anticipated capital requirements, taking into account the uncertainty surrounding the ongoing effects of the COVID-19 pandemic on our results of operations and cash flows. Comprehensive Income and Accumulated Other Comprehensive Loss The following table discloses the changes in each component of other comprehensive loss, net of tax (in thousands):
| Attributable to |  | Noncontrolling |  |  |
| PriceSmart |  | Interests |  | Total
Beginning balance, August 31, 2018 | $ | (121,216) |  | $ | (1) |  | $ | (121,217)
Foreign currency translation adjustments |  | (19,717) |  |  | 21 |  |  | (19,696)
Defined benefit pension plans (1) |  | (112) |  |  | — |  |  | (112)
Derivative Instruments (2) |  | (3,369) |  |  | — |  |  | (3,369)
Amounts reclassified from accumulated other comprehensive loss |  | 75 |  |  | — |  |  | 75
Ending balance, August 31, 2019 | $ | (144,339) |  | $ | 20 |  | $ | (144,319)
Foreign currency translation adjustments |  | (29,413) |  |  | 114 |  |  | (29,299)
Defined benefit pension plans (1) |  | (79) |  |  | — |  |  | (79)
Derivative Instruments (2) |  | (5,803) |  |  | — |  |  | (5,803)
Amounts reclassified from accumulated other comprehensive loss |  | 2,814 |  |  | — |  |  | 2,814
Ending balance, August 31, 2020 | $ | (176,820) |  | $ | 134 |  | $ | (176,686)
Foreign currency translation adjustments |  | (7,837) |  |  | 117 |  |  | (7,720)
Defined benefit pension plans (1) |  | (230) |  |  | — |  |  | (230)
Derivative Instruments (2) |  | 2,252 |  |  | — |  |  | 2,252
Amounts reclassified from accumulated other comprehensive loss |  | 127 |  |  | — |  |  | 127
Ending balance, August 31, 2021 | $ | (182,508) |  | $ | 251 |  | $ | (182,257)
(1)Amounts reclassified from accumulated other comprehensive loss related to the minimum pension liability are included in warehouse club and other operations in the Company's Consolidated Statements of Income. (2)Refer to “Note 13 - Derivative Instruments and Hedging Activities.” Retained Earnings Not Available for Distribution The following table summarizes retained earnings designated as legal reserves of various subsidiaries that cannot be distributed as dividends to PriceSmart, Inc. according to applicable statutory regulations (in thousands):
|  | August 31, |  | August 31,
|  | 2021 |  | 2020
Retained earnings not available for distribution |  | $ | 8,022 |  | $ | 7,375

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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