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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
May 31, 2023
May 31, 2022
May 31, 2023
May 31, 2022
Statement of Comprehensive Income [Abstract]        
Net income $ 29,572 $ 19,258 $ 93,824 $ 81,249
Less: net income attributable to non controlling interest 0 0 0 (19)
Net income attributable to PriceSmart, Inc. 29,572 19,258 93,824 81,230
Other Comprehensive Income, net of tax:        
Foreign currency translation adjustments [1] 15,285 (9,401) 26,599 (15,119)
Defined benefit pension plan:        
Net gain/(loss) arising during period (22) 5 (81) 42
Amortization of prior service cost and actuarial gains included in net periodic pensions cost 37 34 111 98
Total defined benefit pension plan 15 39 30 140
Derivative instruments:        
Unrealized gains/(losses) on change in derivative obligations [2] 3,060 272 2,525 (147)
Unrealized gains/(losses) on change in fair value of interest rate swaps [2] (4,271) 355 (5,904) 4,486
Amounts reclassified from accumulated other comprehensive income to other expense, net for settlement of derivatives [2] 11 0 2,733 0
Total derivative instruments [2] (1,200) 627 (646) 4,339
Other comprehensive income (loss) 14,100 (8,735) 25,983 (10,640)
Comprehensive income 43,672 10,523 119,807 70,590
Less: comprehensive income attributable to noncontrolling interest 0 0 0 3
Comprehensive income attributable to PriceSmart, Inc. $ 43,672 $ 10,523 $ 119,807 $ 70,587
[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.