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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Abstract]        
Net income $ 28,327 $ 25,711 $ 56,144 $ 45,420
Less: net income attributable to noncontrolling interest (91) (111) (171) (92)
Net income attributable to PriceSmart, Inc. 28,236 25,600 55,973 45,328
Other Comprehensive Income, net of tax:        
Foreign currency translation adjustments [1] (2,331) (3,384) 430 (7,107)
Defined benefit pension plan:        
Net gain arising during period 2 6 62 13
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 33 19 66 37
Total defined benefit pension plan 35 25 128 50
Derivative instruments:        
Unrealized gains/(losses) on change in derivative obligations [2] (75) 1,691 1,155 1,263
Unrealized gains/(losses) on change in fair value of interest rate swaps [2] 1,251 (6,128) 329 (5,191)
Amounts reclassified from accumulated other comprehensive income to other expense, net for settlement of derivatives [2]   2,747   2,751
Total derivative instruments [2] 1,176 (1,690) 1,484 (1,177)
Other comprehensive income (loss) (1,120) (5,049) 2,042 (8,234)
Comprehensive income 27,116 20,551 58,015 37,094
Less: comprehensive income attributable to noncontrolling interest 27 21 58 55
Comprehensive income attributable to PriceSmart, Inc. $ 27,089 $ 20,530 $ 57,957 $ 37,039
[1] Translation adjustments arising in translating the financial statements of a foreign entity have no effect on the income taxes of that foreign entity. They may, however, affect: (a) the amount, measured in the parent entity's reporting currency, of withholding taxes assessed on dividends paid to the parent entity and (b) the amount of taxes assessed on the parent entity by the government of its country. The Company has determined that the reinvestment of earnings of its foreign subsidiaries are indefinite because of the long-term nature of the Company's foreign investment plans. Therefore, deferred taxes are not provided for on translation adjustments related to non-remitted earnings of the Company's foreign subsidiaries.
[2] See Note 8 - Derivative Instruments and Hedging Activities.