The Company and its subsidiaries are principally engaged in the international operation of membership shopping in 49 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, which are 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, 2022
Revenue from external customers	$	8,722	$	614,381	$	293,680	$	121,774	$	—	$	1,038,557
Intersegment revenues		372,536		5,030		1,333		779		(379,678)		—
Depreciation, Property and equipment		1,541		8,598		4,023		2,556		—		16,718
Amortization, Intangibles		380		—		—		—		—		380
Operating income (loss)		8,299		46,052		21,755		6,124		(33,908)		48,322
Net income (loss) attributable to PriceSmart, Inc.		3,176		38,750		17,624		5,819		(33,908)		31,461
Capital expenditures, net		1,298		13,361		14,974		3,702		—		33,335

Six Months Ended February 28, 2022
Revenue from external customers	$	22,706	$	1,185,885	$	566,168	$	239,154	$	—	$	2,013,913
Intersegment revenues		786,879		10,028		2,777		1,601		(801,285)		—
Depreciation, Property and equipment		2,006		16,898		8,041		4,920		—		31,865
Amortization, Intangibles		836		—		—		—		—		836
Operating income (loss)		14,556		89,431		41,633		12,502		(63,783)		94,339
Net income (loss) attributable to PriceSmart, Inc.		6,548		74,650		34,074		10,502		(63,802)		61,972
Long-lived assets (other than deferred tax assets)		74,001		497,585		212,418		176,911		—		960,915
Intangibles, net		1,542		—		—		—		—		1,542
Goodwill		8,982		24,309		10,043		—		—		43,334
Total assets		191,677		860,718		463,236		257,699		—		1,773,330
Capital expenditures, net		3,207		26,051		22,047		16,085		—		67,390

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

As of August 31, 2021
Long-lived assets (other than deferred tax assets)	$	79,404	$	490,099	$	197,030	$	164,970	$	—	$	931,503
Intangibles, net		7,762		—		—		—		—		7,762
Goodwill		10,695		24,332		10,068		—		—		45,095
Total assets		246,896		795,940		434,428		228,526		—		1,705,790

⁽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.