Starbucks_Financial_Statements_2005_excerpts

Starbucks_Financial_Statements_2005_excerpts - UNITED...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K ; ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 * For the fiscal year ended October 2, 2005 OR ± TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 0-20322 Starbucks Corporation (Exact name of registrant as specified in its charter) Washington 91-1325671 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 2401 Utah Avenue South Seattle, Washington 98134 98134 (Zip Code) (Address of principal executive offices) * Annual report provides a comprehensive overview of the company for the past year (excerpts only provided)
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2 STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS In thousands, except earnings per share Fiscal Year Ended Oct 2, 2005 Oct 3, 2004 Sept 28, 2003 Net revenues: Company-operated retail $ 5,391,927 $ 4,457,378 $ 3,449,624 Specialty: Licensing 673,015 565,798 409,551 Foodservice and other 304,358 271,071 216,347 Total specialty 977,373 836,869 625,898 Total net revenues 6,369,300 5,294,247 4,075,522 Cost of sales including occupancy costs 2,605,212 2,191,440 1,681,434 Store operating expenses 2,165,911 1,790,168 1,379,574 Other operating expenses 197,024 171,648 141,346 Depreciation and amortization expenses 340,169 289,182 244,671 General and administrative expenses 357,114 304,293 244,550 Subtotal operating expenses 5,665,430 4,746,731 3,691,575 Income from equity investees 76,745 59,071 36,903 Operating income 780,615 606,587 420,850 Interest and other income, net 15,829 14,140 11,622 Earnings before income taxes 796,444 620,727 432,472 Income taxes 301,977 231,754 167,117 Net earnings $ 494,467 $ 388,973 $ 265,355 Net earnings per common share — basic $ 0.63 $ 0.49 $ 0.34 Net earnings per common share — diluted $ 0.61 $ 0.47 $ 0.33 Weighted average shares outstanding: Basic 789,570 794,347 781,505 Diluted 815,417 822,930 803,296 See Notes to Consolidated Financial Statements.
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3 STARBUCKS CORPORATION CONSOLIDATED BALANCE SHEETS In thousands, except share data Fiscal Year Ended Oct 2, 2005 Oct 3, 2004 ASSETS Current assets: Cash and cash equivalents $ 173,809 $ 145,053 Short-term investments — available-for-sale securities 95,379 483,157 Short-term investments — trading securities 37,848 24,799 Accounts receivable, net of allowances of $3,079 and $2,231, respectively 190,762 140,226 Inventories 546,299 422,663 Prepaid expenses and other current assets 94,429 71,347 Deferred income taxes, net 70,808 63,650 Total current assets 1,209,334 1,350,895 Long-term investments — available-for-sale securities 60,475 135,179 Equity and other investments 201,461 167,740 Property, plant and equipment, net 1,842,019 1,551,416 Other assets 72,893 85,561 Other intangible assets 35,409 26,800 Goodwill 92,474 68,950 TOTAL ASSETS $ 3,514,065 $ 3,386,541 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 220,975 $ 199,346 Accrued compensation and related costs 232,354 208,927 Accrued occupancy costs 44,496 29,231 Accrued taxes 78,293 62,959 Short-term borrowings 277,000 Other accrued expenses 198,082 123,684 Deferred revenue 175,048 121,377 Current portion of long-term debt 748 735 Total current liabilities 1,226,996 746,259 Deferred income taxes, net 21,770 Long-term debt 2,870 3,618 Other long-term liabilities 193,565 144,683 Shareholders’ equity: Common stock ($0.001 par value) and additional paid-in-capital — authorized, 1,200,000,000 shares; issued and outstanding, 767,442,110 and 794,811,688 shares, respectively, (includes 3,394,200 common stock units in both periods) 90,968 956,685 Other additional paid-in-capital 39,393 39,393 Retained earnings 1,939,359 1,444,892 Accumulated other comprehensive income 20,914 29,241
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This note was uploaded on 12/23/2009 for the course BIZAD FNA1002X taught by Professor Edmundkeung during the Fall '09 term at National University of Singapore.

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Starbucks_Financial_Statements_2005_excerpts - UNITED...

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