PRICESMART INC - 10-Q filing on 2021-07-08

SEGMENTS (Tables)

9 Months Ended

May 31, 2021

Summary of Segment Revenues, Operating Costs and Balance Sheet Items



	United ‎States ‎Operations		Central ‎American ‎Operations		Caribbean ‎Operations⁽¹⁾		Colombia Operations		Reconciling ‎Items⁽²⁾		Total
Three Months Ended May 31, 2021
Revenue from external customers	$	21,237	$	531,595	$	243,468	$	98,964	$	—	$	895,264
Intersegment revenues		309,261		4,305		1,228		434		(315,228)		—
Depreciation, Property and equipment		1,666		7,990		3,920		2,403		—		15,979
Amortization, Intangibles		606		—		—		—		—		606
Operating income (loss)		545		38,313		17,240		5,135		(25,184)		36,049
Net income (loss) attributable to PriceSmart, Inc.		(2,388)		32,700		13,524		3,929		(25,236)		22,529
Capital expenditures, net		3,334		8,724		6,486		4,870		—		23,414

Nine Months Ended May 31, 2021
Revenue from external customers	$	67,622	$	1,567,287	$	762,153	$	313,203	$	—	$	2,710,265
Intersegment revenues		955,619		12,842		3,498		2,413		(974,372)		—
Depreciation, Property and equipment		5,115		23,367		11,570		6,500		—		46,552
Amortization, Intangibles		1,798		—		—		—		—		1,798
Operating income (loss)		8,315		113,120		59,600		17,139		(72,615)		125,559
Net income (loss) attributable to PriceSmart, Inc.		(4,306)		94,247		48,175		13,224		(72,838)		78,502
Long-lived assets (other than deferred tax assets)		79,178		484,039		189,873		163,266		—		916,356
Intangibles, net		8,368		—		—		—		—		8,368
Goodwill		10,695		24,359		10,088		—		—		45,142
Total assets		202,770		777,703		427,078		224,404		—		1,631,955
Capital expenditures, net		6,052		30,334		14,748		20,416		—		71,550

Three Months Ended May 31, 2020
Revenue from external customers	$	15,852	$	452,927	$	250,304	$	80,848	$	—	$	799,931
Intersegment revenues		230,826		4,791		1,548		787		(237,952)		—
Depreciation, Property and equipment		1,294		7,577		3,810		1,591		—		14,272
Amortization, Intangibles		607		—		—		—		—		607
Operating income (loss)		(1,115)		27,606		13,547		3,487		(19,558)		23,967
Net income (loss) attributable to PriceSmart, Inc.		(3,785)		22,724		10,849		2,403		(19,486)		12,705
Capital expenditures, net		1,446		9,395		2,163		3,508		—		16,512

Nine Months Ended May 31, 2020
Revenue from external customers	$	52,039	$	1,442,336	$	747,004	$	277,228	$	—	$	2,518,607
Intersegment revenues		868,137		12,745		3,627		1,870		(886,379)		—
Depreciation, Property and equipment		3,981		22,027		11,602		5,452		—		43,062
Amortization, Intangibles		1,805		—		—		—		—		1,805
Operating income (loss)		3,401		96,972		40,436		13,411		(60,730)		93,490
Net income (loss) attributable to PriceSmart, Inc.		(5,350)		79,815		34,978		9,340		(60,750)		58,033
Long-lived assets (other than deferred tax assets)		83,813		481,942		181,578		143,437		—		890,770
Intangibles, net		10,772		—		—		—		—		10,772
Goodwill		10,695		24,484		10,137		—		—		45,316
Total assets		224,682		727,527		384,168		238,112		—		1,574,489
Capital expenditures, net		5,564		42,766		13,913		28,807		—		91,050

As of August 31, 2020
Long-lived assets (other than deferred tax assets)	$	81,008	$	475,744	$	177,166	$	146,862	$	—	$	880,780
Intangibles, net		10,166		—		—		—		—		10,166
Goodwill		10,696		24,418		10,092		—		—		45,206
Total assets		272,190		741,523		395,244		247,868		—		1,656,825

⁽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.