Starbucks 2012 Annual Report Download - page 58

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52
STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
Fiscal Year Ended
Sep 30,
2012
Oct 2,
2011
Oct 3,
2010
OPERATING ACTIVITIES:
Net earnings including noncontrolling interests $ 1,384.7 $ 1,248.0 $ 948.3
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 580.6 550.0 540.8
Gain on sale of properties
—
(30.2) —
Deferred income taxes, net 61.1 106.2 (42.0)
Income earned from equity method investees, net of distributions (49.3) (32.9) (17.2)
Gain resulting from acquisition of joint ventures
—
(55.2) (23.1)
Stock-based compensation 153.6 145.2 113.6
Other 23.6 33.3 75.5
Cash provided/(used) by changes in operating assets and liabilities:
Accounts receivable (90.3) (88.7) (33.4)
Inventories (273.3) (422.3) 123.2
Accounts payable (105.2) 227.5 (3.6)
Accrued liabilities and insurance reserves 23.7 (81.8) (18.7)
Deferred revenue 60.8 35.8 24.2
Prepaid expenses, other current assets and other assets (19.7) (22.5) 17.3
Net cash provided by operating activities 1,750.3 1,612.4 1,704.9
INVESTING ACTIVITIES:
Purchase of investments (1,748.6) (966.0) (549.0)
Maturities and calls of investments 1,796.4 430.0 209.9
Acquisitions, net of cash acquired (129.1) (55.8) (12.0)
Additions to property, plant and equipment (856.2) (531.9) (445.8)
Cash proceeds from sale of property, plant, and equipment 5.3 117.4 5.1
Other (41.8) (13.2) 2.3
Net cash used by investing activities (974.0) (1,019.5) (789.5)
FINANCING ACTIVITIES:
30.8 —
Purchase of noncontrolling interest
—
(27.5) (45.8)
Proceeds from issuance of common stock 236.6 250.4 132.8
Excess tax benefit from exercise of stock options 169.8 103.9 36.9
Cash dividends paid (513.0) (389.5) (171.0)
Repurchase of common stock (549.1) (555.9) (285.6)
Minimum tax withholdings on share-based awards (58.5) (15.0) (4.9)
Other (0.5) (5.2) (8.4)
Net cash used by financing activities (745.5) (608.0) (346.0)
Effect of exchange rate changes on cash and cash equivalents 9.7 (0.8) (5.2)
Net increase (decrease) in cash and cash equivalents 40.5 (15.9) 564.2
CASH AND CASH EQUIVALENTS:
Beginning of period 1,148.1 1,164.0 599.8
End of period $ 1,188.6 $ 1,148.1 $ 1,164.0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest, net of capitalized interest $ 34.4 $ 34.4 $ 32.0
Income taxes $ 416.9 $ 350.1 $ 527.0
See Notes to Consolidated Financial Statements.
(30.8)
(Payments)/proceeds from short-term borrowings