Starbucks 2011 Annual Report Download - page 51

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STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Fiscal Year Ended
Oct 2,
2011
Oct 3,
2010
Sep 27,
2009
OPERATING ACTIVITIES:
Net earnings including noncontrolling interests ..................................... $1,248.0 $ 948.3 $ 391.5
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciationandamortization ................................................ 550.0 540.8 563.3
Gainonsaleofproperties .................................................... (30.2) 0.0 0.0
Provisionforimpairmentsandassetdisposals .................................... 36.2 67.7 224.4
Deferredincometaxes,net ................................................... 106.2 (42.0) (69.6)
Equityinincomeofinvestees ................................................. (118.5) (108.6) (78.4)
Distributionsofincomefromequityinvestees .................................... 85.6 91.4 53.0
Gain resulting from acquisition of joint ventures .................................. (55.2) (23.1) 0.0
Stock-basedcompensation ................................................... 145.2 113.6 83.2
Excesstaxbenefitfromexerciseofstockoptions.................................. (103.9) (36.9) (15.9)
Other .................................................................... (2.9) 7.8 5.4
Cash provided/(used) by changes in operating assets and liabilities:
Accounts receivable ...................................................... (88.7) (33.4) 59.1
Inventories ............................................................. (422.3) 123.2 28.5
Accounts payable ........................................................ 227.5 (3.6) (53.0)
Accruedtaxes ........................................................... 104.0 0.6 59.2
Deferredrevenue......................................................... 35.8 24.2 16.3
Otheroperatingassets ..................................................... (22.5) 17.3 61.4
Other operating liabilities .................................................. (81.9) 17.6 60.6
Net cash provided by operating activities .......................................... 1,612.4 1,704.9 1,389.0
INVESTING ACTIVITIES:
Purchase of available-for-sale securities ........................................... (966.0) (549.0) (129.2)
Maturities and calls of available-for-sale securities ................................... 430.0 209.9 111.0
Sales of available-for-sale securities .............................................. 0.0 1.1 5.0
Acquisitions,netofcashacquired................................................ (55.8) (12.0) 0.0
Net(purchases)/salesofequity,otherinvestmentsandotherassets ...................... (13.2) 1.2 (4.8)
Additionstoproperty,plantandequipment ........................................ (531.9) (440.7) (445.6)
Proceeds from sale of property, plant and equipment ................................. 117.4 0.0 42.5
Net cash used by investing activities .............................................. (1,019.5) (789.5) (421.1)
FINANCING ACTIVITIES:
Proceeds from issuance of commercial paper ....................................... 0.0 0.0 20,965.4
Repaymentsofcommercialpaper ................................................ 0.0 0.0 (21,378.5)
Proceeds from short-term borrowings ............................................. 30.8 0.0 1,338.0
Repaymentsofshort-termborrowings ............................................ 0.0 0.0 (1,638.0)
Purchase of noncontrolling interest ............................................... (27.5) (45.8) 0.0
Proceeds from issuance of common stock ......................................... 235.4 127.9 57.3
Excesstaxbenefitfromexerciseofstockoptions.................................... 103.9 36.9 15.9
Principal payments on long-term debt ............................................. (4.3) (6.6) (0.7)
Cashdividendspaid .......................................................... (389.5) (171.0) 0.0
Repurchaseofcommonstock ................................................... (555.9) (285.6) 0.0
Other ...................................................................... (0.9) (1.8) (1.6)
Net cash used by financing activities ............................................. (608.0) (346.0) (642.2)
Effectofexchangeratechangesoncashandcashequivalents .......................... (0.8) (5.2) 4.3
Netincrease/(decrease)incashandcashequivalents ................................. (15.9) 564.2 330.0
CASH AND CASH EQUIVALENTS:
Beginningofperiod .......................................................... 1,164.0 599.8 269.8
Endofperiod ............................................................... $1,148.1 $1,164.0 $ 599.8
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest,netofcapitalizedinterest................................................ $ 34.4 $ 32.0 $ 39.8
Incometaxes ................................................................ $ 350.1 $ 527.0 $ 162.0
See Notes to Consolidated Financial Statements.
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