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Item 8. Financial Statements and Supplementary Data
STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(in millions, except per share data)
Fiscal Year Ended
Sep 27,
2015
Sep 28,
2014
Sep 29,
2013
Net revenues:
Company-operated stores $ 15,197.3 $ 12,977.9 $ 11,793.2
Licensed stores 1,861.9 1,588.6 1,360.5
CPG, foodservice and other 2,103.5 1,881.3 1,713.1
Total net revenues 19,162.7 16,447.8 14,866.8
Cost of sales including occupancy costs 7,787.5 6,858.8 6,382.3
Store operating expenses 5,411.1 4,638.2 4,286.1
Other operating expenses 522.4 457.3 431.8
Depreciation and amortization expenses 893.9 709.6 621.4
General and administrative expenses 1,196.7 991.3 937.9
Litigation charge/(credit) —(20.2) 2,784.1
Total operating expenses 15,811.6 13,635.0 15,443.6
Income from equity investees 249.9 268.3 251.4
Operating income/(loss) 3,601.0 3,081.1 (325.4)
Gain resulting from acquisition of joint venture 390.6 — —
Loss on extinguishment of debt (61.1) — —
Interest income and other, net 43.0 142.7 123.6
Interest expense (70.5)(64.1)(28.1)
Earnings/(loss) before income taxes 3,903.0 3,159.7 (229.9)
Income tax expense/(benefit) 1,143.7 1,092.0 (238.7)
Net earnings including noncontrolling interests 2,759.3 2,067.7 8.8
Net earnings/(loss) attributable to noncontrolling interests 1.9 (0.4) 0.5
Net earnings attributable to Starbucks $ 2,757.4 $ 2,068.1 $ 8.3
Earnings per share — basic $ 1.84 $ 1.37 $ 0.01
Earnings per share — diluted $ 1.82 $ 1.35 $ 0.01
Weighted average shares outstanding:
Basic 1,495.9 1,506.3 1,498.5
Diluted 1,513.4 1,526.3 1,524.5
See Notes to Consolidated Financial Statements.
46 Starbucks Corporation 2015 Form 10-K