STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 924.70 $ 3,594.60 $ 4,518.00 1,503.20 (25.80) (280.70) 227.70 1,449.30 (1,495.40) (250.60) 216.80 1,305.90 714.90 (242.80) 226.80 (1,376.40) (499.20) 250.30 37.60 248.60 (622.80) 308.00 10.50 1,197.60 454.40 24.50 142.60 45.30 75.60 13.40 (2.70) (10.90) (317.50) (1,214.60) (210.80) 31.00 (1,231.40) 280.50 1,597.80 (197.70) (173.00) 922.00 1,237.10 31.90 (30.50) 131.00 (41.20) (839.50) 146.00 391.60 7,109.40 (141.10) 5,047.00 16.40 11,937.80 Fiscal Year Ended OPERATING ACTIVITIES: Net earnings including noncontrolling interests $ Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization Deferred income taxes, net Income earned from equity method investees Distributions received from equity method investees Gain resulting from acquisition of joint venture Net gain resulting from divestiture of certain retail operations Stock-based compensation Goodwill impairments Non-cash lease cost Loss on retirement and impairment of assets Other Cash provided by/(used in) changes in operating assets and liabilities: Accounts receivable Inventories Prepaid expenses and other current assets Income taxes payable Accounts payable Deferred revenue Operating lease liability Other operating assets and liabilities Net cash provided by operating activities INVESTING ACTIVITIES: Purchases of investments Sales of investments Maturities and calls of investments Acquisitions, net of cash acquired Additions to property, plant and equipment Net proceeds from the divestiture of certain operations Other Net cash used in investing activities FINANCING ACTIVITIES: Proceeds from issuance of short-term debt Repayments of short-term debt Proceeds from issuance of long-term debt Repayments of long-term debt Proceeds from issuance of common stock Cash dividends paid Repurchase of common stock Minimum tax withholdings on share-based awards Other Net cash provided by (used in) financing activities Effect of exchange rate changes on cash and cash equivalents Net increase/(decrease) in cash and cash equivalents CASH AND CASH EQUIVALENTS: Beginning of period End of period $ SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid during the period for: Interest, net of capitalized interest Income taxes $ (443.90) 186.70 73.70 (190.40) 298.30 59.80 (1,483.60) (1,806.60) 684.30 (56.20) (1,010.80) (191.90) 459.00 45.30 (1,311.30) (1,976.40) 608.20 5.60 (2,361.50) (44.40) (1,711.50) 1,406.60 (967.70) 4,727.60 5,584.10 298.80 (1,923.50) (1,698.90) (91.90) (37.70) 1,713.30 64.70 1,664.30 1,996.00 (350.00) 409.80 (1,761.30) (10,222.30) (111.60) (17.50) (10,056.90) (49.00) (6,069.70) 153.90 (1,743.40) (7,133.50) (62.70) (41.20) (3,242.80) (39.50) 6,294.00 2,686.60 4,350.90 $ 8,756.30 2,686.60 $ 2,462.30 8,756.30 396.90 $ 1,699.10 $ 299.50 $ 470.10 $ 137.10 1,176.90 (0.10) Balance, October 1, 2017 Net earnings/(loss) Other comprehensive income/loss) Stock-based compensation expense Exercise of stock options/vesting of RSUS Sale of common stock Repurchase of common stock Cash dividends declared, $1.32 per share Net distributions to noncontrolling interests Balance, September 30, 2018 Cumulative effect of adoption of new accounting guidance Net earnings/(loss) Other comprehensive incomelloss) Stock-based compensation expense Exercise of stock options/vesting of RSUS Sale of common stock Repurchase of common stock Cash dividends declared, $1.49 per share Net distributions to noncontrolling interests Balance, September 29, 2019 Cumulative effect of adoption of new accounting guidance Net earnings/loss) Other comprehensive incomelloss) Stock-based compensation expense Exercise of stock options/vesting of RSUS Sale of common stock Repurchase of common stock Cash dividends declared, $1.23 per share Noncontrolling interest resulting from divestiture Balance, September 27, 2020 STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF EQUITY (in millions, except per share data) Accumulated Other Common Stock Additional Retained Comprehensive Shareholders' Noncontrolling Shares Amount Paid-in Capital Earnings/(Deficit Income (Loss) Equityl(Deficit) Interests 1,431.60 $ 1.40 $ 41.10 $ 5,563.20 $ (155.60) $ 5,450.10 $ 6.90 $ 4,518.30 4,518.30 (0.30) (174.70) (174.70) 253.80 253.80 8.40 59.40 59.40 0.60 31.80 31.80 (131.50) (345.00) (6,863.60) (7,208.70) (1,760.50) (1,760.50) (0.30) 1,309.10 $ 1.30 $ 41.10 $ 1,457.40 $ (330.30) $ 1,169.50 $ 6.30 $ 495.60 495.60 3,599.20 3,599.20 (4.60) (173.00) (173.00) 311.30 311.30 14.70 264.90 264.90 0.40 33.40 33.40 (139.60) (0.10) (609.60) (9,521.80) (10, 131.50) (1,801.60) (1,801.60) (0.50) 1,184.60 $ 1.20 $ 41.10 $ (5,771.20 $ (503.30) $ (6.232.20 $ 1.20 $ 12.50 4.80 17.30 928.30 928.30 133.90 133.90 252.10 252.10 8.50 169.90 169.90 0.50 37.20 37.20 (20.30) (126.40) (1,548.60) (1,675.00) (1,436.60) (1,436.60) (0.20) 8.30 1,173.30 $ 1.20 $ 373.90 $ (7,815.60) $ (364.60) $ (7,805.10) $ 5.70 $ Total 5,457.00 4,518.00 (174.70) 253.80 59.40 31.80 (7,208.70) (1,760.50) (0.30) 1,175.80 495.60 3,594.60 (173.00) 311.30 264.90 33.40 (10,131.50) (1,801.60) (0.50) (6,231.00 17.30 924.70 133.90 252.10 169.90 37.20 (1,675.00) (1,436.80) 8.30 (7,799.40) (3.60) STARBUCKS CORPORATION 10-K Sep. 27, 2020 Vertical Analysis CONSOLIDATED STATEMENTS OF EARNINGS 2020 2019 2018 81% 10% 100% (in millions, except per share data) Net revenues: Company-operated stores Licensed stores Other Total net revenues Product and distribution costs Store operating expenses Other operating expenses Depreciation and amortization expenses General and administrative expenses Restructuring and impairments Total operating expenses Income from equity investees Operating income Gain resulting from acquisition of joint venture Net gain resulting from divestiture of certain operations Interest income and other, net Interest expense Earnings before income taxes Income tax expense Net earnings including noncontrolling interests Net loss attributable to noncontrolling interests Net earnings attributable to Starbucks $ 19, 164.6 2,327.1 2,026.3 23,518.0 7,694.9 10,764.0 430.3 1,431.3 1,679.6 278.7 22,278.8 322.5 1,561.7 $ 21,544.4 2,875.0 2,089.2 26,508.6 8,526.9 10,493.6 371.0 1,377.3 1,824.1 135.8 22,728.7 298.0 4,077.9 $ 19,690.3 2,652.2 2,377.0 24,719.5 7,930.7 9,472.2 554.9 1,247.0 1,708.2 224.4 21,137.4 301.2 3,883.3 1,376.4 499.2 191.4 (170.3) 5,780.0 1,262.0 4,518.0 (0.3) $ 4,518.3 39.7 (437.0) 1,164.4 239.7 924.7 (3.6) 928.3 622.8 96.5 (331.0) 4,466.2 871.6 3,594.6 (4.6) $ 3,599.2 $ $ $ 0.79 0.79 2.95 2.92 $ $ 3.27 3.24 $ $ Earnings per share - basic Earnings per share - diluted Weighted average shares outstanding: Basic Diluted 1,172.8 1,181.8 1,221.2 1,233.2 1,382.7 1,394.6 STARBUCKS CORPORATION 10-K Sep. 27, 2020 Horizontal Analysis Horizontal Analysis CONSOLIDATED STATEMENTS OF EARNINGS 2020 $ Chg % Chg 2019 $ Chg % Chg 2018 ($2,380) (11%) (in millions, except per share data) Net revenues: Company-operated stores Licensed stores Other Total net revenues Product and distribution costs Store operating expenses Other operating expenses Depreciation and amortization expenses General and administrative expenses Restructuring and impairments Total operating expenses Income from equity investees Operating income Gain resulting from acquisition of joint venture Net gain resulting from divestiture of certain operations Interest income and other, net Interest expense Earnings before income taxes Income tax expense Net earnings including noncontrolling interests Net loss attributable to noncontrolling interests Net earnings attributable to Starbucks Earnings per share - basic Earnings per share - diluted Weighted average shares outstanding: Basic Diluted $ 19,164.6 2,327.1 2,026.3 23,518.0 7,694.9 10,764.0 430.3 1,431.3 1,679.6 278.7 22, 278.8 322.5 1,561.7 $ 21,544.4 2,875.0 2,089.2 26,508.6 8,526.9 10,493.6 371.0 1,377.3 1,824.1 135.8 22,728.7 298.0 4,077.9 $ 19,690.3 2,652.2 2,377.0 24,719.5 7,930.7 9,472.2 554.9 1,247.0 1,708.2 224.4 21,137.4 301.2 3,883.3 1,376.4 499.2 191.4 (170.3) 5,780.0 1,262.0 4,518.0 (0.3) $ 4,518.3 39.7 (437.0) 1,164.4 239.7 622.8 96.5 (331.0) 4,466.2 871.6 3,594.6 (4.6) $ 3,599.2 924.7 (3.6) $ 928.3 $ $ $ 0.79 0.79 2.95 2.92 $ $ 3.27 3.24 $ 1,172.8 1,181.8 1,221.2 1,233.2 1,382.7 1,394.6