| Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Aug'13 | Aug'12 | Aug'11 | Aug'10 | Aug'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities: | ||||||||||
Net income attributable to PriceSmart, Inc. | ||||||||||
73,489 | 74,403 | 90,724 | 88,723 | 89,124 | 92,886 | 84,265 | 67,621 | 61,750 | 49,447 | 42,584 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
54,958 | 52,640 | 46,292 | 39,794 | 34,445 | 28,475 | 24,444 | 23,739 | 21,154 | 15,260 | 13,898 |
Allowance for doubtful accounts | ||||||||||
47 | -369 | - | 7 | - | - | -1 | -4 | -10 | 5 | -1 |
Asset impairment and closure costs | ||||||||||
- | 1,929 | - | - | - | - | - | - | - | 18 | 74 |
Gain on Guatemala Plaza lease buyout | ||||||||||
- | - | - | - | - | - | - | - | - | - | -651 |
Cash paid for Guatemala Plaza lease buyout | ||||||||||
- | - | - | - | - | - | - | - | - | - | -3,100 |
Loss on sale of property and equipment | ||||||||||
-1,079 | -1,339 | -1,961 | -1,162 | -2,005 | -1,445 | -889 | -312 | -486 | -504 | 509 |
Gain on sale of excess real estate in Panama | ||||||||||
- | - | - | - | - | - | - | - | 1,249 | 0 | 0 |
Deferred income taxes | ||||||||||
4,401 | -6,962 | 2,845 | -2,875 | -2,972 | -2,362 | -3,049 | -2,128 | -642 | -3,562 | -1,805 |
Discontinued operations | ||||||||||
- | - | - | - | - | - | - | 25 | 86 | -16 | 28 |
Excess tax benefit on stock-based compensation | ||||||||||
- | - | - | - | 1,206 | 1,489 | 1,336 | 1,438 | 752 | -57 | 16 |
Release of cash from escrow account due to settlement of litigation | ||||||||||
- | - | - | - | - | - | - | - | - | - | 256 |
Equity in losses of unconsolidated affiliates | ||||||||||
-61 | -8 | -1 | 332 | 94 | 9 | -4 | -15 | -52 | -22 | -21 |
Stock-based compensation | ||||||||||
15,061 | 10,218 | 9,689 | 9,121 | 5,969 | 6,451 | 6,302 | 5,469 | 4,037 | 3,778 | 3,298 |
Proceeds from the settlement of derivatives | ||||||||||
- | - | - | - | 8,543 | - | 0 | - | - | - | - |
Change in operating assets and liabilities: | ||||||||||
Receivables, prepaid expenses and other current assets, non-current assets, accrued salaries and benefits, deferred membership income and other accruals | ||||||||||
-14,961 | 1,108 | -1,894 | 6,679 | 7,807 | 11,676 | -6,307 | -5,668 | 3,657 | -2,718 | -3,422 |
Merchandise inventories | ||||||||||
10,248 | 10,079 | 28,039 | 15,732 | 40,792 | 8,970 | 16,370 | 23,811 | 46,043 | 15,349 | -1,947 |
Accounts payable | ||||||||||
25,325 | -16,489 | 3,344 | 23,202 | 16,423 | 27,800 | 23,080 | 9,766 | 39,030 | 22,989 | 5,293 |
Net cash provided by (used in) operating activities | ||||||||||
- | - | - | - | 109,582 | 137,275 | - | 89,490 | 75,526 | 82,995 | 55,051 |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | ||||||||||
- | - | - | - | - | - | - | 399 | 73 | 34 | 307 |
Net cash provided by operating activities | ||||||||||
170,332 | 119,454 | 123,021 | 142,141 | - | - | 130,633 | 89,889 | 75,599 | 83,029 | 55,358 |
Investing Activities: | ||||||||||
Business acquisition, net of cash acquired | ||||||||||
- | 23,895 | - | - | - | - | - | - | - | - | - |
Additions to property and equipment | ||||||||||
140,061 | 98,109 | 135,294 | 77,700 | 89,185 | 118,101 | 69,927 | 52,705 | 47,033 | 50,207 | 49,347 |
Purchases of short-term investments | ||||||||||
15,244 | 77,997 | - | - | - | - | - | - | - | - | - |
Proceeds from settlements of short-term investments | ||||||||||
30,527 | 45,693 | - | - | - | - | - | - | - | - | - |
Deposits for land purchase option agreements | ||||||||||
- | 100 | 300 | 442 | -1,095 | 850 | 1,599 | 0 | 0 | - | - |
Proceeds from disposal of property and equipment | ||||||||||
74 | 629 | 377 | 86 | 368 | 142 | 264 | 138 | 182 | 282 | 181 |
Capital contributions in joint ventures | ||||||||||
- | - | - | -119 | -1,360 | -750 | -550 | - | - | - | - |
Proceeds from Sale of Property Held-for-sale | ||||||||||
- | - | - | - | - | - | - | - | 7,406 | 0 | 0 |
Purchase of interest in Costa Rica joint venture | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,637 |
Capital contribution to Costa Rica joint venture | ||||||||||
- | - | - | - | - | - | - | - | - | - | 377 |
Collection of note receivable from sale of closed warehouse club in the Dominican Republic | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,104 |
Purchase of 5% Trinidad noncontrolling interest | ||||||||||
- | - | - | - | - | - | - | - | - | 3,800 | 0 |
Purchase of interest in Panama joint venture | ||||||||||
- | - | - | - | - | - | - | - | - | - | 4,616 |
Capital contribution to Panama joint venture | ||||||||||
- | - | - | - | - | - | - | 0 | 0 | 433 | 50 |
Net cash provided by (used in) investing activities | ||||||||||
- | - | - | - | -89,082 | -119,559 | - | - | - | - | -54,742 |
Net cash provided by (used in) provided by discontinued investing activities | ||||||||||
- | - | - | - | - | - | - | - | - | - | -9 |
Net cash used in investing activities | ||||||||||
-124,704 | -153,779 | -135,217 | -78,175 | - | - | -71,812 | -52,567 | -39,445 | -54,158 | -54,751 |
Financing Activities: | ||||||||||
Proceeds from long-term bank borrowings | ||||||||||
- | 28,500 | 47,700 | 14,370 | 52,977 | 41,942 | 3,979 | - | - | - | - |
Repayment of long-term bank borrowings | ||||||||||
12,939 | 32,088 | 29,395 | 16,525 | 30,905 | 23,756 | 7,646 | - | - | - | - |
Proceeds from short-term bank borrowings | ||||||||||
18,403 | 81,851 | 678 | 28,927 | 51,664 | 28,168 | 1,403 | - | - | - | - |
Repayment of short-term bank borrowings | ||||||||||
10,863 | 81,851 | 17,179 | 19,314 | 42,143 | 28,172 | 1,403 | - | - | - | - |
Repayment of long-term debt with cross-currency interest rate swaps | ||||||||||
- | - | - | - | 24,000 | - | 0 | - | - | - | - |
Proceeds from bank borrowings | ||||||||||
- | - | - | - | - | - | - | 75,924 | 45,261 | 44,904 | 40,119 |
Repayment of bank borrowings | ||||||||||
- | - | - | - | - | - | - | 67,259 | 39,232 | 24,922 | 23,926 |
Cash dividend payments | ||||||||||
21,654 | 21,240 | 21,285 | 21,274 | 21,126 | 21,144 | 18,133 | 18,120 | 17,934 | 14,895 | -19,551 |
Release of restricted cash | ||||||||||
- | - | - | - | - | -8,000 | -2,000 | 14,000 | 16,920 | 6,000 | 0 |
Stockholder contribution | ||||||||||
- | - | - | - | - | - | - | - | - | 396 | 0 |
Excess tax benefit on stock-based compensation | ||||||||||
- | - | - | - | 1,206 | 1,489 | 1,336 | 1,438 | 752 | -57 | -16 |
Purchase of treasury stock for tax withholding on stock compensation | ||||||||||
4,604 | 3,183 | 3,193 | 3,334 | 4,677 | 4,773 | 3,467 | 3,154 | 2,711 | 1,434 | 1,128 |
Purchase of treasury stock- PSC settlement | ||||||||||
- | - | - | - | - | - | - | - | - | - | 161 |
Proceeds from exercise of stock options | ||||||||||
- | 269 | 704 | 80 | 49 | 118 | 125 | 89 | 144 | 873 | 559 |
Other financing activities | ||||||||||
298 | 75 | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
-31,955 | -27,817 | -21,970 | -17,070 | -16,955 | 1,872 | -21,806 | -25,082 | -30,640 | -1,135 | -4,104 |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | ||||||||||
-4,351 | -6,656 | -2,838 | -2,777 | -11,412 | -4,364 | -6,389 | 2,191 | -2,043 | 1,417 | -431 |
Net increase in cash, cash equivalents | ||||||||||
9,322 | -68,798 | -37,004 | 44,119 | -7,867 | 15,224 | 30,626 | 14,431 | 3,471 | 29,153 | -3,928 |
Supplemental disclosure of cash flow information: | ||||||||||
Interest, net of amounts capitalized | ||||||||||
3,504 | 4,955 | 3,765 | 4,903 | 6,093 | 3,765 | 3,885 | 4,837 | 3,686 | 2,613 | 1,579 |
Income taxes | ||||||||||
48,312 | 52,151 | 44,261 | 51,238 | 44,174 | 44,261 | 35,781 | 29,135 | 22,389 | 19,309 | 13,009 |
Cancellation of joint ventures Prico Enterprise loan | ||||||||||
- | - | - | - | - | - | - | -473 | 0 | 0 | - |