Starbucks 2008 Annual Report Download - page 26

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Item 6. Selected Financial Data
In millions, except earnings per share and store information
The following selected financial data are derived from the consolidated financial statements of the Company. The
data below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” “Risk Factors,” and the Company’s consolidated financial statements and notes. In
particular, see Note 1 to the consolidated financial statements included in Item 8 of this Report for a description
of accounting changes that materially affect the comparability of the data presented below.
As of and for the Fiscal Year Ended
(1)
Sep 28,
2008
(52 Wks)
Sep 30,
2007
(52 Wks)
Oct 1,
2006
(52 Wks)
Oct 2,
2005
(52 Wks)
Oct 3,
2004
(53 Wks)
RESULTS OF OPERATIONS
Net revenues:
Company-operated retail ................. $ 8,771.9 $7,998.3 $6,583.1 $5,391.9 $4,457.4
Specialty:
Licensing........................... 1,171.6 1,026.3 860.6 673.0 565.8
Foodservice and other ................. 439.5 386.9 343.2 304.4 271.0
Total specialty ......................... 1,611.1 1,413.2 1,203.8 977.4 836.8
Total net revenues ........................ $10,383.0 $9,411.5 $7,786.9 $6,369.3 $5,294.2
Operating income
(2)
....................... $ 503.9 $1,053.9 $ 894.0 $ 780.5 $ 606.5
Earnings before cumulative effect of change in
accounting principle .................... 315.5 672.6 581.5 494.4 388.9
Cumulative effect of accounting change for
FIN 47, net of taxes. .................... — — 17.2 — —
Net earnings ............................ $ 315.5 $ 672.6 $ 564.3 $ 494.4 $ 388.9
Earnings per common share before cumulative
effect of change in accounting principle —
diluted (“EPS”) ........................ $ 0.43 $ 0.87 $ 0.73 $ 0.61 $ 0.47
Cumulative effect of accounting change for
FIN 47, net of taxes — per common share .... — — 0.02 — —
Net earnings per common share — diluted ...... $ 0.43 $ 0.87 $ 0.71 $ 0.61 $ 0.47
Cash dividends per share ................... —————
Net cash provided by operating activities ....... $ 1,258.7 $1,331.2 $1,131.6 $ 922.9 $ 862.9
Capital expenditures (net additions to property,
plant and equipment) .................... $ 984.5 $1,080.3 $ 771.2 $ 643.3 $ 416.9
BALANCE SHEET
Working capital (deficit)
(3)
.................. $ (441.7) $ (459.1) $ (405.8) $ (17.7) $ 604.6
Total assets ............................. 5,672.6 5,343.9 4,428.9 3,513.7 3,386.3
Short-term borrowings . .................... 713.0 710.3 700.0 277.0 —
Long-term debt (including current portion)
(4)
.... 550.3 550.9 2.7 3.6 4.4
Shareholders’ equity . . .................... $ 2,490.9 $2,284.1 $2,228.5 $2,090.3 $2,469.9
STORE INFORMATION
Percentage change in comparable store sales
(5)
United States .......................... (5)% 4% 7% 9% 11%
International .......................... 2% 7% 8% 6% 6%
Consolidated .......................... (3)% 5% 7% 8% 10%
Stores opened during the year (net of closures):
United States
Company — operated stores ............. 445 1,065 810 580 521
Licensed stores . . .................... 438 723 733 596 417
International
(6)
Company — operated stores ............. 236 286 240 177 160
Licensed stores . . .................... 550 497 416 319 246
Total .................................. 1,669 2,571 2,199 1,672 1,344
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