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STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
May 31, 2023
Equity [Abstract]  
Schedule of Dividends
The following table summarizes the dividends declared and paid during fiscal year 2023 and 2022 (amounts are per share):
First PaymentSecond Payment
DeclaredAmountRecord
Date
Date
Paid
Date
Payable
AmountRecord
Date
Date
Paid
Date
Payable
Amount
2/3/2023$0.92 2/16/20232/28/2023N/A$0.46 8/15/2023N/A8/31/2023$0.46 
2/3/2022$0.86 2/15/20222/28/2022N/A$0.43 8/15/20228/31/2022N/A$0.43 
Schedule of Components of Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss
The following tables disclose the effects on accumulated other comprehensive loss of each component of other comprehensive income (loss), net of tax (in thousands):
Attributable to
PriceSmart
Noncontrolling
Interests
Total
Beginning balance, September 1, 2022$(195,586)$— $(195,586)
Foreign currency translation adjustments26,599 — 26,599 
Defined benefit pension plans (1)
30 — 30 
Derivative instruments (2)
(646)— (646)
Ending balance, May 31, 2023$(169,603)$— $(169,603)
Attributable to
PriceSmart
Noncontrolling
Interests
Total
Beginning balance, September 1, 2021$(182,508)$251 $(182,257)
Foreign currency translation adjustments(15,119)(15,116)
Defined benefit pension plans (1)
140 — 140 
Derivative instruments (2)
4,339 — 4,339 
Sale of Aeropost— (254)(254)
Ending balance, May 31, 2022$(193,148)$— $(193,148)
Attributable to
PriceSmart
Noncontrolling
Interests
Total
Beginning balance, September 1, 2021$(182,508)$251 $(182,257)
Foreign currency translation adjustments(19,034)(19,031)
Defined benefit pension plans (1)
(341)— (341)
Derivative instruments (2)
6,170 — 6,170 
Amounts reclassified from accumulated other comprehensive loss127 — 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.
Schedule of 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,
2023
August 31,
2022
Retained earnings not available for distribution
$9,102 $8,648