Starbucks 2007 Annual Report Download - page 41

Download and view the complete annual report

Please find page 41 of the 2007 Starbucks annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 83

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83

Item 8. Financial Statements and Supplementary Data
STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
Fiscal Year Ended Sept 30, 2007 Oct 1, 2006 Oct 2, 2005
In thousands, except earnings per share
Net revenues:
Company-operated retail ............................... $7,998,265 $6,583,098 $5,391,927
Specialty:
Licensing ........................................ 1,026,338 860,676 673,015
Foodservice and other ............................... 386,894 343,168 304,358
Total specialty ...................................... 1,413,232 1,203,844 977,373
Total net revenues ..................................... 9,411,497 7,786,942 6,369,300
Cost of sales including occupancy costs ..................... 3,999,124 3,178,791 2,605,212
Store operating expenses ................................ 3,215,889 2,687,815 2,165,911
Other operating expenses ................................ 294,136 253,724 192,525
Depreciation and amortization expenses ..................... 467,160 387,211 340,169
General and administrative expenses ........................ 489,249 479,386 361,613
Total operating expenses ............................. 8,465,558 6,986,927 5,665,430
Income from equity investees ............................. 108,006 93,937 76,648
Operating income...................................... 1,053,945 893,952 780,518
Net interest and other income ............................. 2,419 12,291 15,829
Earnings before income taxes ............................. 1,056,364 906,243 796,347
Income taxes ......................................... 383,726 324,770 301,977
Earnings before cumulative effect of change in accounting
principle........................................... 672,638 581,473 494,370
Cumulative effect of accounting change for FIN 47, net of taxes . . . — 17,214 —
Net earnings ...................................... $ 672,638 $ 564,259 $ 494,370
Per common share:
Earnings before cumulative effect of change in accounting
principle — basic ................................ $ 0.90 $ 0.76 $ 0.63
Cumulative effect of accounting change for FIN 47, net of
taxes .......................................... — 0.02 —
Net earnings — basic ............................... $ 0.90 $ 0.74 $ 0.63
Earnings before cumulative effect of change in accounting
principle — diluted ............................... $ 0.87 $ 0.73 $ 0.61
Cumulative effect of accounting change for FIN 47, net of
taxes .......................................... — 0.02 —
Net earnings— diluted .............................. $ 0.87 $ 0.71 $ 0.61
Weighted average shares outstanding:
Basic ........................................... 749,763 766,114 789,570
Diluted .......................................... 770,091 792,556 815,417
See Notes to Consolidated Financial Statements.
39