Starbucks 2006 Annual Report Download - page 41

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Item 8. Financial Statements and Supplementary Data
CONSOLIDATED STATEMENTS OF EARNINGS
In thousands, except earnings per share
FISCAL YEAR ENDED Oct 1, 2006 Oct 2, 2005 Oct 3, 2004
Net revenues:
Company-operated retail $6,583,098 $5,391,927 $4,457,378
Specialty:
Licensing 860,676 673,015 565,798
Foodservice and other 343,168 304,358 271,071
Total specialty 1,203,844 977,373 836,869
Total net revenues 7,786,942 6,369,300 5,294,247
Cost of sales including occupancy costs 3,178,791 2,605,212 2,191,440
Store operating expenses 2,687,815 2,165,911 1,790,168
Other operating expenses 260,087 197,024 171,648
Depreciation and amortization expenses 387,211 340,169 289,182
General and administrative expenses 473,023 357,114 304,293
Subtotal operating expenses 6,986,927 5,665,430 4,746,731
Income from equity investees 93,937 76,648 58,978
Operating income 893,952 780,518 606,494
Interest and other income, net 12,291 15,829 14,140
Earnings before income taxes 906,243 796,347 620,634
Income taxes 324,770 301,977 231,754
Earnings before cumulative effect of change in accounting principle 581,473 494,370 388,880
Cumulative effect of accounting change for FIN 47, net of taxes 17,214 — —
Net earnings $ 564,259 $ 494,370 $ 388,880
Per common share:
Earnings before cumulative effect of change in accounting principle — basic $ 0.76 $ 0.63 $ 0.49
Cumulative effect of accounting change for FIN 47, net of taxes 0.02 — —
Net earnings — basic $ 0.74 $ 0.63 $ 0.49
Earnings before cumulative effect of change in accounting principle — diluted $ 0.73 $ 0.61 $ 0.47
Cumulative effect of accounting change for FIN 47, net of taxes 0.02 — —
Net earnings — diluted $ 0.71 $ 0.61 $ 0.47
Weighted average shares outstanding:
Basic 766,114 789,570 794,347
Diluted 792,556 815,417 822,930
See Notes to Consolidated Financial Statements.
STARBUCKS CORPORATION, FORM 10-K 37