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STOCKHOLDERS' EQUITY | 6 Months Ended
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Feb. 28, 2023
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Dividends The following table summarizes the dividends declared and paid during fiscal year 2023 and 2022 (amounts are per share):
|  |  |  | First Payment |  | Second Payment
Declared |  | Amount |  | Record Date |  | Date Paid |  | Date Payable |  | Amount |  | Record Date |  | Date Paid |  | Date Payable |  | Amount
2/3/2023 |  | $ | 0.92 |  |  | 2/16/2023 |  | 2/28/2023 |  | N/A |  | $ | 0.46 |  |  | 8/15/2023 |  | N/A |  | 8/31/2023 |  | $ | 0.46 |
2/3/2022 |  | $ | 0.86 |  |  | 2/15/2022 |  | 2/28/2022 |  | N/A |  | $ | 0.43 |  |  | 8/15/2022 |  | 8/31/2022 |  | N/A |  | $ | 0.43 |
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 uncertain macroeconomic conditions 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 PriceSmart |  | Noncontrolling Interests |  | Total
Beginning balance, September 1, 2022 | $ | (195,586) |  |  | $ | — |  |  | $ | (195,586) |
Foreign currency translation adjustments | 11,314 |  |  | — |  |  | 11,314 |
Defined benefit pension plans (1) | 15 |  |  | — |  |  | 15 |
Derivative instruments (2) | 554 |  |  | — |  |  | 554 |
Ending balance, February 28, 2023 | $ | (183,703) |  |  | $ | — |  |  | $ | (183,703) |
| Attributable to PriceSmart |  | Noncontrolling Interests |  | Total
Beginning balance, September 1, 2021 | $ | (182,508) |  |  | $ | 251 |  |  | $ | (182,257) |
Foreign currency translation adjustments | (5,718) |  |  | 3 |  |  | (5,715) |
Defined benefit pension plans (1) | 101 |  |  | — |  |  | 101 |
Derivative instruments (2) | 3,712 |  |  | — |  |  | 3,712 |
Sale of Aeropost | — |  |  | (254) |  |  | (254) |
Ending balance, February 28, 2022 | $ | (184,413) |  |  | $ | — |  |  | $ | (184,413) |
| Attributable to PriceSmart |  | Noncontrolling Interests |  | Total
Beginning balance, September 1, 2021 | $ | (182,508) |  |  | $ | 251 |  |  | $ | (182,257) |
Foreign currency translation adjustments | (19,034) |  |  | 3 |  |  | (19,031) |
Defined benefit pension plans (1) | (341) |  |  | — |  |  | (341) |
Derivative instruments (2) | 6,170 |  |  | — |  |  | 6,170 |
Amounts reclassified from accumulated other comprehensive loss | 127 |  |  | — |  |  | 127 |
Sale of Aeropost | — |  |  | $ | (254) |  |  | (254) |
Ending balance, August 31, 2022 | $ | (195,586) |  |  | $ | — |  |  | $ | (195,586) |
(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):
| February 28, 2023 |  | August 31, 2022
Retained earnings not available for distribution | $ | 8,971 |  |  | $ | 8,648 |

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