The Company and its subsidiaries are principally engaged in the international operation of membership shopping in 47 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 28, 2021
Revenue from external customers	$	22,768	$	541,000	$	260,169	$	113,632		—	$	937,569
Intersegment revenues		296,255		3,801		1,124		850		(302,030)		—
Depreciation, Property and equipment		1,784		7,683		3,858		2,362		—		15,687
Amortization, Intangibles		593		—		—		—		—		593
Operating income (loss)		2,028		40,362		20,766		6,439		(24,616)		44,979
Net income (loss) attributable to PriceSmart, Inc.		(1,545)		32,309		17,480		4,699		(24,707)		28,236
Capital expenditures, net		1,500		14,066		5,804		7,007		—		28,377

Six Months Ended February 28, 2021
Revenue from external customers	$	46,385	$	1,035,692	$	518,685	$	214,239	$	—	$	1,815,001
Intersegment revenues		646,358		8,537		2,270		1,979		(659,144)		—
Depreciation, Property and equipment		3,449		15,377		7,650		4,097		—		30,573
Amortization, Intangibles		1,192		—		—		—		—		1,192
Operating income (loss)		7,771		74,807		42,359		12,004		(47,431)		89,510
Net income (loss) attributable to PriceSmart, Inc.		(1,917)		61,547		34,650		9,295		(47,602)		55,973
Long-lived assets (other than deferred tax assets)		80,449		483,729		181,815		162,641		—		908,634
Intangibles, net		8,974		—		—		—		—		8,974
Goodwill		10,695		24,389		10,073		—		—		45,157
Total assets		201,726		770,899		430,327		227,884		—		1,630,836
Capital expenditures, net		2,718		21,610		8,262		15,546		—		48,136

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 (loss)		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)		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

As of August 31, 2020
Long-lived assets (other than deferred tax assets)	$	81,008	$	475,744	$	177,166	$	146,862	$	—	$	880,780
Intangibles, net		10,166		—		—		—		—		10,166
Goodwill		10,696		24,418		10,092		—		—		45,206
Total assets		272,190		741,523		395,244		247,868		—		1,656,825

⁽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.