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SEGMENTS
9 Months Ended
May 31, 2023
Segment Reporting [Abstract]  
SEGMENTS SEGMENTSThe Company and its subsidiaries are principally engaged in the international operation of membership shopping in 51 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 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 management. 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 May 31, 2023
Revenue from external customers$6,347 $669,691 $316,201 $104,415 $— $1,096,654 
Intersegment revenues368,675 7,343 1,527 1,318 (378,863)— 
Depreciation, Property and equipment1,302 9,349 4,793 2,377 — 17,821 
Operating income (loss)4,066 46,023 21,184 2,961 (31,182)43,052 
Net income (loss) attributable to PriceSmart, Inc.2,336 38,715 17,091 2,612 (31,182)29,572 
Capital expenditures, net— 24,384 6,850 12,423 — 43,657 
Nine Months Ended May 31, 2023
Revenue from external customers$23,687 $1,992,980 $956,032 $320,950 $— $3,293,649 
Intersegment revenues1,141,492 20,726 4,178 3,198 (1,169,594)— 
Depreciation, Property and equipment4,158 27,073 14,216 7,052 — 52,499 
Amortization, Intangibles765 — — — — 765 
Operating income (loss)24,622 152,786 71,161 12,491 (108,681)152,379 
Net income (loss) attributable to PriceSmart, Inc.9,440 127,163 56,799 9,103 (108,681)93,824 
Long-lived assets (other than deferred tax assets)70,733 543,410 212,112 188,471 — 1,014,726 
Goodwill8,981 24,127 10,044 — — 43,152 
Total assets242,003 963,929 471,817 255,597 — 1,933,346 
Capital expenditures, net8,829 52,695 14,219 21,737 — 97,480 
Three Months Ended May 31, 2022
Revenue from external customers$13,396 $599,132 $294,785 $123,497 $— $1,030,810 
Intersegment revenues351,404 6,223 1,706 1,388 (360,721)— 
Depreciation, Property and equipment1,355 8,688 4,408 2,718 — 17,169 
Amortization, Intangibles388 — — — — 388 
Operating income (loss)2,821 39,458 19,163 4,652 (32,332)33,762 
Net income (loss) attributable to PriceSmart, Inc.(442)34,011 14,903 3,118 (32,332)19,258 
Capital expenditures, net197 11,851 10,695 8,439 — 31,182 
Nine Months Ended May 31, 2022
Revenue from external customers$36,102 $1,785,017 $860,953 $362,651 $— $3,044,723 
Intersegment revenues1,138,283 16,251 4,483 2,989 (1,162,006)— 
Depreciation, Property and equipment3,361 25,586 12,449 7,638 — 49,034 
Amortization, Intangibles1,224 — — — — 1,224 
Operating income (loss)17,377 128,889 60,796 17,154 (96,115)128,101 
Net income (loss) attributable to PriceSmart, Inc.6,106 108,661 48,977 13,620 (96,134)81,230 
Long-lived assets (other than deferred tax assets)71,475 494,086 218,365 186,630 — 970,556 
Goodwill8,982 24,316 10,049 — — 43,347 
Total assets201,571 844,844 478,008 267,340 — 1,791,763 
Capital expenditures, net3,404 37,902 32,742 24,524 — 98,572 
As of August 31, 2022
Long-lived assets (other than deferred tax assets)$71,743 $498,204 $218,021 $175,194 $— $963,162 
Goodwill
8,981 24,250 10,072 — — 43,303 
Investment in unconsolidated affiliates
— 10,534 — — — 10,534 
Total assets230,411 867,898 474,411 235,680 — 1,808,400 
(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.