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STOCKHOLDERS' EQUITY | 9 Months Ended
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May 31, 2022
STOCKHOLDERS' EQUITY [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 5 – STOCKHOLDERS’ EQUITY Dividends The following table summarizes the dividends declared and paid during fiscal year 2022 and 2021 (amounts are per share):
|  |  |  |  | First Payment |  | Second Payment
Declared |  | Amount |  | Record ‎Date |  | Date ‎Paid |  | Date ‎Payable |  | Amount |  | Record ‎Date |  | Date ‎Paid |  | Date ‎Payable |  | Amount
2/3/2022 |  | $ | 0.86 |  | 2/15/2022 |  | 2/28/2022 |  | N/A |  | $ | 0.43 |  | 8/15/2022 |  | N/A |  | 8/31/2022 |  | $ | 0.43
2/4/2021 |  | $ | 0.70 |  | 2/15/2021 |  | 2/26/2021 |  | N/A |  | $ | 0.35 |  | 8/15/2021 |  | 8/31/2021 |  | N/A |  | $ | 0.35
The Company anticipates the ongoing payment of semi-annual dividends in subsequent periods, although the actual declaration of future dividends, if any, 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. Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss The following tables disclose the effects on accumulated other comprehensive loss of each component of other comprehensive income (loss), net of tax (in thousands):
| Attributable to |  | Noncontrolling |  |  |
| PriceSmart |  | Interests |  | Total
Beginning balance, September 1, 2021 | $ | (182,508) |  | $ | 251 |  | $ | (182,257)
Foreign currency translation adjustments |  | (15,119) |  |  | 3 |  |  | (15,116)
Defined benefit pension plans (1) |  | 140 |  |  | — |  |  | 140
Derivative instruments (2) |  | 4,339 |  |  | — |  |  | 4,339
Sale of Aeropost |  | — |  |  | (254) |  |  | (254)
Ending balance, May 31, 2022 | $ | (193,148) |  | $ | — |  | $ | (193,148)
| Attributable to |  | Noncontrolling |  |  |
| PriceSmart |  | Interests |  | Total
Beginning balance, September 1, 2020 | $ | (176,820) |  | $ | 134 |  | $ | (176,686)
Foreign currency translation adjustments |  | (2,577) |  |  | 91 |  |  | (2,486)
Defined benefit pension plans (1) |  | 164 |  |  | — |  |  | 164
Derivative Instruments (2) |  | 1,865 |  |  | — |  |  | 1,865
Ending balance, May 31, 2021 | $ | (177,368) |  | $ | 225 |  | $ | (177,143)
| Attributable to |  | Noncontrolling |  |  |
| PriceSmart |  | Interests |  | Total
Beginning balance, September 1, 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 income (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 8 - Derivative Instruments and Hedging Activities. Retained Earnings Not Available for Distribution The following table summarizes retained earnings designated as legal reserves of various subsidiaries which cannot be distributed as dividends to PriceSmart, Inc. according to applicable statutory regulations (in thousands):
|  | May 31, |  | August 31,
|  | 2022 |  | 2021
Retained earnings not available for distribution |  | $ | 8,554 |  | $ | 8,022

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI https://asc.fasb.org/topic&trid=2208762 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 6: 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 https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644 Reference 15: 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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 6 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008 + Details
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