Starbucks 2003 Annual Report Download - page 12
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Fiscal2003AnnualReport 25
CONSOLIDATEDSTATEMENTSOFEARNINGS
Inthousands,exceptearningspershare
Fiscalyearended Sept28,2003 Sept29,2002 Sept30,2001
Netrevenues:
Retail $ 3,449,624 $ 2,792,904 $ 2,229,594
Specialty 625,898 496,004419,386
Totalnetrevenues 4,075,522 3,288,908 2,648,980
Costofsalesincludingoccupancycosts 1,685,928 1,350,011 1,112,785
Storeoperatingexpenses 1,379,574 1,109,782 867,957
Otheroperatingexpenses 141,346 106,084 72,406
Depreciationandamortizationexpenses 237,807 205,557 163,501
Generalandadministrativeexpenses 244,550 234,581 179,852
Incomefromequityinvestees 38,396 33,445 27,740
Operatingincome 424,713 316,338 280,219
Interestandotherincome,net 11,622 9,300 10,768
Internet-relatedinvestmentlosses – – 2,940
Gainonsaleofinvestment – 13,361 –
Earningsbeforeincometaxes 436,335 338,999 288,047
Incometaxes 167,989 126,313 107,712
Netearnings $ 268,346 $ 212,686 $ 180,335
Netearningspercommonshare–basic $ 0.69 $ 0.55 $ 0.47
Netearningspercommonshare–diluted $ 0.67 $ 0.54 $ 0.46
Weightedaveragesharesoutstanding:
Basic 390,753 385,575 380,566
Diluted 401,648 397,526 394,349
SeeNotestoConsolidatedFinancialStatements.
CONSOLIDATEDBALANCESHEETS
Inthousands,exceptsharedata
Fiscalyearended Sept28,2003 Sept29,2002
ASSETS
Currentassets:
Cashandcashequivalents $ 200,907 $ 99,677
Short-terminvestments–Available-for-salesecurities 128,905 217,302
Short-terminvestments–Tradingsecurities20,19910,360
Accountsreceivable,netofallowancesof$4,809and$3,680,respectively 114,44897,573
Inventories 342,944 263,174
Prepaidexpensesandothercurrentassets 55,173 42,351
Deferredincometaxes,net 61,453 42,206
Totalcurrentassets 924,029 772,643
Long-terminvestments–Available-for-salesecurities 136,159 –
Equityandotherinvestments144,257 102,537
Property,plantandequipment,net 1,384,902 1,265,756
Otherassets 52,113 43,692
Otherintangibleassets 24,942 9,862
Goodwill 63,344 19,902
TOTALASSETS $ 2,729,746 $ 2,214,392
LIABILITIESANDSHAREHOLDERS’EQUITY
Currentliabilities:
Accountspayable $ 168,984 $ 135,994
Accruedcompensationandrelatedcosts 152,608105,899
Accruedoccupancycosts 56,17951,195
Accruedtaxes 54,93454,244
Otheraccruedexpenses 101,80072,289
Deferredrevenue 73,47642,264
Currentportionoflong-termdebt 722 710
Totalcurrentliabilities 608,703 462,595
Deferredincometaxes,net 33,217 22,496
Long-termdebt 4,354 5,076
Otherlong-termliabilities 1,045 1,036
Shareholders’equity:
Commonstockandadditionalpaid-incapital–Authorized,600,000,000shares;
issuedandoutstanding,393,692,536and388,228,592shares,respectively,
(includes1,697,100commonstockunitsinbothperiods) 959,103 891,040
Otheradditionalpaid-in-capital 39,393 39,393
Retainedearnings 1,069,683 801,337
Accumulatedothercomprehensiveincome/(loss) 14,248 (8,581)
Totalshareholders’equity 2,082,427 1,723,189
TOTALLIABILITIESANDSHAREHOLDERS’EQUITY $ 2,729,746 $ 2,214,392
SeeNotestoConsolidatedFinancialStatements.