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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 28, 2022
Feb. 28, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]        
Net income $ 31,461 $ 28,327 $ 61,991 $ 56,144
Less: net income attributable to noncontrolling interest   (91) (19) (171)
Net income attributable to PriceSmart, Inc. 31,461 28,236 61,972 55,973
Other Comprehensive Income, net of tax:        
Foreign currency translation adjustments [1] 2,413 (2,331) (5,718) 430
Defined benefit pension plan:        
Net gain arising during period 20 2 37 62
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 30 33 64 66
Total defined benefit pension plan 50 35 101 128
Derivative instruments:        
Unrealized gains/(losses) on change in derivative obligations [2] 883 (75) (418) 1,155
Unrealized gains on change in fair value of interest rate swaps [2] 880 1,251 4,130 329
Total derivative instruments [2] 1,763 1,176 3,712 1,484
Other comprehensive income (loss) 4,226 (1,120) (1,905) 2,042
Comprehensive income 35,687 27,116 60,067 58,015
Less: comprehensive income attributable to noncontrolling interest   27 3 58
Comprehensive income attributable to PriceSmart, Inc. $ 35,687 $ 27,089 $ 60,064 $ 57,957
[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.