STARBUCKS CORPORATION

CONSOLIDATED STATEMENTS OF EARNINGS

(In millions)
Fiscal Year Ended Sep 30, Sep 28, Sep 27, Oct 3, Oct 2,
2007 2008 2009 2010 2011
Net revenues:
Company-operated stores 7,998.3 8,771.9 8,180.1 8,963.5 9,632.4
Specialty:
Licensed stores 1,026.3 1,171.6 1,222.3 875.2 1,007.5
CPG, foodservice and other 386.9 439.5 372.2 868.7 1,060.5
Total specialty 1,413.2 1,611.1 1,594.5 1,743.9 2,068.0
Total net revenues 9,411.5 10,383.0 9,774.6 10,707.4 11,700.4

Cost of sales including occupancy costs (3,999.1) (4,645.3) (4,324.9) (4,458.6) (4,949.3)
Store operating expenses (3,215.9) (3,745.1) (3,425.1) (3,551.4) (3,665.1)
Other operating expenses (294.1) (330.1) (264.4) (293.2) (402.0)
Depreciation and amortization expenses (467.2) (549.3) (534.7) (510.4) (523.3)
General and administrative expenses (489.2) (456.0) (453.0) (569.5) (636.1)
Restructuring charges 0.0 (266.9) (332.4) (53.0) 0.0
Total operating expenses (8,465.6) (9,992.7) (9,334.5) (9,436.1) (10,175.8)
Gain on sale of properties 30.2
Income from equity investees 108.0 113.6 121.9 148.1 173.7
Operating income 1,053.9 503.9 562.0 1,419.4 1,728.5
Interest income and other, net 2.4 9.0 36.3 50.3 115.9
Interest expense (53.4) (39.1) (32.7) (33.3)
Earnings before income taxes 1,056.4 459.5 559.2 1,437.0 1,811.1
Income taxes (383.7) (144.0) (168.4) (488.7) (563.1)
Net earnings including noncontrolling interests 672.6 315.5 390.8 948.3 1,248.0
Net earnings (loss) attributable to noncontrolling interests (2.7) (2.3)
Net earnings attributable to Starbucks 672.6 315.5 390.8 945.6 1,245.7

STARBUCKS CORPORATION
CONSOLIDATED BALANCE SHEETS
(In millions)
Sep 30, Sep 28, Sep 27, Oct 3, Oct 2,
2007 2008 2009 2010 2011
ASSETS
Current assets:
Cash and cash equivalents 281.3 269.8 599.8 1,164.0 1,148.1
Short-term investments — available-for-sale securities 83.8 3.0 21.5 236.5 855.0
Short-term investments — trading securities 73.6 49.5 44.8 49.2 47.6
Accounts receivable, net 287.9 329.5 271.0 302.7 386.5
Inventories 691.7 692.8 664.9 543.3 965.8
Prepaid expenses and other current assets 148.8 169.2 147.2 156.5 161.5
Deferred income taxes, net 129.5 234.2 286.6 304.2 230.4
Total current assets 1,696.5 1,748.0 2,035.8 2,756.4 3,794.9
Long-term investments — available-for-sale securities 21.0 71.4 71.2 191.8 107.0
Equity and cost investments 258.8 302.6 352.3 341.5 372.3
Property, plant and equipment, net 2,890.4 2,956.4 2,536.4 2,416.5 2,355.0
Other assets 219.4 261.1 253.8 346.5 297.7
Other intangible assets 42.0 66.6 68.2 70.8 111.9
Goodwill 215.6 266.5 259.1 262.4 321.6
TOTAL ASSETS 5,343.9 5,672.6 5,576.8 6,385.9 7,360.4
LIABILITIES AND EQUITY
Current liabilities:
Commercial paper and short-term borrowings 710.2 713.0
Accounts payable 390.8 324.9 267.1 282.6 540.0
Accrued compensation and related costs 332.3 253.6 307.5 400.0 364.4
Accrued occupancy costs 74.6 136.1 188.1 173.2 148.3
Accrued taxes 92.5 76.1 127.8 100.2 109.2
Insurance reserves 152.5 154.3 146.2 145.6
Other accrued liabilities 257.4 164.4 147.3 262.8 319.0
Deferred revenue 296.9 368.4 388.7 414.1 449.3
Current portion of long-term debt 0.8 0.7 0.2
Total current liabilities 2,155.6 2,189.7 1,581.0 1,779.1 2,075.8
Long-term debt 550.1 549.6 549.3 549.4 549.5
Other long-term liabilities 354.1 442.4 400.8 375.1 347.8
Total liabilities 3,059.8 3,181.7 2,531.1 2,703.6 2,973.1
Shareholders’ equity:
Common stock ($0.001 par value) — authorized, 1,200.0 shares; issued
0.7and outstanding,
0.7 744.8 0.7
and 742.6 shares,
0.7 respectively
0.7 (includes 3.4 co
Additional paid-in capital 0.0 147.0 106.2 1.1
Other additional paid-in-capital 39.4 39.4 39.4 39.4 39.4
Retained earnings 2,189.4 2,402.4 2,793.2 3,471.2 4,297.4
Accumulated other comprehensive income 54.6 48.4 65.4 57.2 46.3
Total shareholders’ equity 2,284.1 2,490.9 3,045.7 3,674.7 4,384.9
Noncontrolling interests 7.6 2.4
Total equity 2,284.1 2,490.9 3,045.7 3,682.3 4,387.3
TOTAL LIABILITIES AND EQUITY 5,343.9 5,672.6 5,576.8 6,385.9 7,360.4
STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(In millions)
Fiscal Year Ended Sep 30, Sep 28, Sep 27, Oct 3, Oct 2,
2007 2008 2009 2010 2011
Net revenues:
Company-operated stores 7,998.3 8,771.9 8,180.1 8,963.5 9,632.4
Specialty:
Licensed stores 1,026.3 1,171.6 1,222.3 875.2 1,007.5
CPG, foodservice and other 386.9 439.5 372.2 868.7 1,060.5
Total specialty 1,413.2 1,611.1 1,594.5 1,743.9 2,068.0
Total net revenues 9,411.5 10,383.0 9,774.6 10,707.4 11,700.4

Cost of sales including occupancy costs (3,999.1) (4,645.3) (4,324.9) (4,458.6) (4,949.3)
Store operating expenses (3,215.9) (3,745.1) (3,425.1) (3,551.4) (3,665.1)
Other operating expenses (294.1) (330.1) (264.4) (293.2) (402.0)
Depreciation and amortization expenses (467.2) (549.3) (534.7) (510.4) (523.3)
General and administrative expenses (489.2) (456.0) (453.0) (569.5) (636.1)
Restructuring charges 0.0 (266.9) (332.4) (53.0) 0.0
Total operating expenses (8,465.6) (9,992.7) (9,334.5) (9,436.1) (10,175.8)
Gain on sale of properties 30.2
Income from equity investees 108.0 113.6 121.9 148.1 173.7
Operating income 1,053.9 503.9 562.0 1,419.4 1,728.5
Interest income and other, net 2.4 9.0 36.3 50.3 115.9
Interest expense (53.4) (39.1) (32.7) (33.3)
Earnings before income taxes 1,056.4 459.5 559.2 1,437.0 1,811.1
Income taxes (383.7) (144.0) (168.4) (488.7) (563.1)
Net earnings including noncontrolling interests 672.6 315.5 390.8 948.3 1,248.0
Net earnings (loss) attributable to noncontrolling interests (2.7) (2.3)
Net earnings attributable to Starbucks 672.6 315.5 390.8 945.6 1,245.7

STARBUCKS CORPORATION
CONSOLIDATED BALANCE SHEETS
(In millions)
Sep 30, Sep 28, Sep 27, Oct 3, Oct 2,
2007 2008 2009 2010 2011
ASSETS
Current assets:
Cash and cash equivalents 281.3 269.8 599.8 1,164.0 1,148.1
Short-term investments — available-for-sale securities 83.8 3.0 21.5 236.5 855.0
Short-term investments — trading securities 73.6 49.5 44.8 49.2 47.6
Accounts receivable, net 287.9 329.5 271.0 302.7 386.5
Inventories 691.7 692.8 664.9 543.3 965.8
Prepaid expenses and other current assets 148.8 169.2 147.2 156.5 161.5
Deferred income taxes, net 129.5 234.2 286.6 304.2 230.4
Total current assets 1,696.5 1,748.0 2,035.8 2,756.4 3,794.9
Long-term investments — available-for-sale securities 21.0 71.4 71.2 191.8 107.0
Equity and cost investments 258.8 302.6 352.3 341.5 372.3
Property, plant and equipment, net 2,890.4 2,956.4 2,536.4 2,416.5 2,355.0
Other assets 219.4 261.1 253.8 346.5 297.7
Other intangible assets 42.0 66.6 68.2 70.8 111.9
Goodwill 215.6 266.5 259.1 262.4 321.6
TOTAL ASSETS 5,343.9 5,672.6 5,576.8 6,385.9 7,360.4
LIABILITIES AND EQUITY
Current liabilities:
Commercial paper and short-term borrowings 710.2 713.0
Accounts payable 390.8 324.9 267.1 282.6 540.0
Accrued compensation and related costs 332.3 253.6 307.5 400.0 364.4
Accrued occupancy costs 74.6 136.1 188.1 173.2 148.3
Accrued taxes 92.5 76.1 127.8 100.2 109.2
Insurance reserves 152.5 154.3 146.2 145.6
Other accrued liabilities 257.4 164.4 147.3 262.8 319.0
Deferred revenue 296.9 368.4 388.7 414.1 449.3
Current portion of long-term debt 0.8 0.7 0.2
Total current liabilities 2,155.6 2,189.7 1,581.0 1,779.1 2,075.8
Long-term debt 550.1 549.6 549.3 549.4 549.5
Other long-term liabilities 354.1 442.4 400.8 375.1 347.8
Total liabilities 3,059.8 3,181.7 2,531.1 2,703.6 2,973.1
Shareholders’ equity:
Common stock ($0.001 par value) — authorized, 1,200.0 shares; issued
0.7and outstanding,
0.7 744.8 0.7
and 742.6 shares,
0.7 respectively
0.7 (includes 3.4 co
Additional paid-in capital 0.0 147.0 106.2 1.1
Other additional paid-in-capital 39.4 39.4 39.4 39.4 39.4
Retained earnings 2,189.4 2,402.4 2,793.2 3,471.2 4,297.4
Accumulated other comprehensive income 54.6 48.4 65.4 57.2 46.3
Total shareholders’ equity 2,284.1 2,490.9 3,045.7 3,674.7 4,384.9
Noncontrolling interests 7.6 2.4
Total equity 2,284.1 2,490.9 3,045.7 3,682.3 4,387.3
TOTAL LIABILITIES AND EQUITY 5,343.9 5,672.6 5,576.8 6,385.9 7,360.4
STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF EARNINGS
(In millions)
Fiscal Year Ended Sep 30, Sep 28, Sep 27, Oct 3, Oct 2,
2007 2008 2009 2010 2011
Net revenues:
Company-operated stores 7,998.3 8,771.9 8,180.1 8,963.5 9,632.4
Specialty:
Licensed stores 1,026.3 1,171.6 1,222.3 875.2 1,007.5
CPG, foodservice and other 386.9 439.5 372.2 868.7 1,060.5
Total specialty 1,413.2 1,611.1 1,594.5 1,743.9 2,068.0
Total net revenues 9,411.5 10,383.0 9,774.6 10,707.4 11,700.4

Cost of sales including occupancy costs (3,999.1) (4,645.3) (4,324.9) (4,458.6) (4,949.3)
Store operating expenses (3,215.9) (3,745.1) (3,425.1) (3,551.4) (3,665.1)
Other operating expenses (294.1) (330.1) (264.4) (293.2) (402.0)
Depreciation and amortization expenses (467.2) (549.3) (534.7) (510.4) (523.3)
General and administrative expenses (489.2) (456.0) (453.0) (569.5) (636.1)
Restructuring charges 0.0 (266.9) (332.4) (53.0) 0.0
Total operating expenses (8,465.6) (9,992.7) (9,334.5) (9,436.1) (10,175.8)
Gain on sale of properties 30.2
Income from equity investees 108.0 113.6 121.9 148.1 173.7
Operating income 1,053.9 503.9 562.0 1,419.4 1,728.5
Interest income and other, net 2.4 9.0 36.3 50.3 115.9
Interest expense (53.4) (39.1) (32.7) (33.3)
Earnings before income taxes 1,056.4 459.5 559.2 1,437.0 1,811.1
Income taxes (383.7) (144.0) (168.4) (488.7) (563.1)
Net earnings including noncontrolling interests 672.6 315.5 390.8 948.3 1,248.0
Net earnings (loss) attributable to noncontrolling interests (2.7) (2.3)
Net earnings attributable to Starbucks 672.6 315.5 390.8 945.6 1,245.7

STARBUCKS CORPORATION
CONSOLIDATED BALANCE SHEETS
(In millions)
Sep 30, Sep 28, Sep 27, Oct 3, Oct 2,
2007 2008 2009 2010 2011
ASSETS
Current assets:
Cash and cash equivalents 281.3 269.8 599.8 1,164.0 1,148.1
Short-term investments — available-for-sale securities 83.8 3.0 21.5 236.5 855.0
Short-term investments — trading securities 73.6 49.5 44.8 49.2 47.6
Accounts receivable, net 287.9 329.5 271.0 302.7 386.5
Inventories 691.7 692.8 664.9 543.3 965.8
Prepaid expenses and other current assets 148.8 169.2 147.2 156.5 161.5
Deferred income taxes, net 129.5 234.2 286.6 304.2 230.4
Total current assets 1,696.5 1,748.0 2,035.8 2,756.4 3,794.9
Long-term investments — available-for-sale securities 21.0 71.4 71.2 191.8 107.0
Equity and cost investments 258.8 302.6 352.3 341.5 372.3
Property, plant and equipment, net 2,890.4 2,956.4 2,536.4 2,416.5 2,355.0
Other assets 219.4 261.1 253.8 346.5 297.7
Other intangible assets 42.0 66.6 68.2 70.8 111.9
Goodwill 215.6 266.5 259.1 262.4 321.6
TOTAL ASSETS 5,343.9 5,672.6 5,576.8 6,385.9 7,360.4
LIABILITIES AND EQUITY
Current liabilities:
Commercial paper and short-term borrowings 710.2 713.0
Accounts payable 390.8 324.9 267.1 282.6 540.0
Accrued compensation and related costs 332.3 253.6 307.5 400.0 364.4
Accrued occupancy costs 74.6 136.1 188.1 173.2 148.3
Accrued taxes 92.5 76.1 127.8 100.2 109.2
Insurance reserves 152.5 154.3 146.2 145.6
Other accrued liabilities 257.4 164.4 147.3 262.8 319.0
Deferred revenue 296.9 368.4 388.7 414.1 449.3
Current portion of long-term debt 0.8 0.7 0.2
Total current liabilities 2,155.6 2,189.7 1,581.0 1,779.1 2,075.8
Long-term debt 550.1 549.6 549.3 549.4 549.5
Other long-term liabilities 354.1 442.4 400.8 375.1 347.8
Total liabilities 3,059.8 3,181.7 2,531.1 2,703.6 2,973.1
Shareholders’ equity:
Common stock ($0.001 par value) — authorized, 1,200.0 shares; issued
0.7and outstanding,
0.7 744.8 0.7
and 742.6 shares,
0.7 respectively
0.7 (includes 3.4 co
Additional paid-in capital 0.0 147.0 106.2 1.1
Other additional paid-in-capital 39.4 39.4 39.4 39.4 39.4
Retained earnings 2,189.4 2,402.4 2,793.2 3,471.2 4,297.4
Accumulated other comprehensive income 54.6 48.4 65.4 57.2 46.3
Total shareholders’ equity 2,284.1 2,490.9 3,045.7 3,674.7 4,384.9
Noncontrolling interests 7.6 2.4
Total equity 2,284.1 2,490.9 3,045.7 3,682.3 4,387.3
TOTAL LIABILITIES AND EQUITY 5,343.9 5,672.6 5,576.8 6,385.9 7,360.4
Minimum future rental payments under non-cancelable operating leases as of October 2, 2011 (in millions):
Fiscal Year Ending
2012    751.2    8346.667
2013    699.9   
2014    630.7   
2015    545.4   
2016    442.7   
Thereafter 988.0   

Total minimum lease paymen 4,057.9   

Minimum future rental payments under non-cancelable operating leases as of October 3, 2010 (in
Fiscal Year Ending
2011 718.4   
2012 670.0   
2013 609.4   
2014 544.0   
2015 462.6   
Thereafter 1,079.8   

Total minimum lease paymen 4,084.2   

Minimum future rental payments under noncancelable operating leases as of September 27, 2009

Fiscal Year Ending

2010 $ 706.7
2011 669.0
2012 612.3
2013 551.0
2014 488.1
Thereafter 1,362.1

Total minimum leas$ 4,389.2

Minimum future rental payments under noncancelable operating leases as of September 28, 2008
Fiscal Year Ending

2009 $ 741.0
2010 706.6
2011 660.7
2012 604.6
2013 546.4
Thereafter 1,838.8

Total minimum leas$ 5,098.1

Minimum future rental payments under noncancelable operating leases as of September 30, 2007

Fiscal Year Ending

2008 $ 691.0 1,000.0

2009 671.1
2010 629.7
2011 582.5
2012 526.7
Thereafter 1,915.6

Total minimum leas$ 5,016.6

in millions):

as of October 3, 2010 (in millions):

as of September 27, 2009 (in millions):

as of September 28, 2008, were as follows (in millions):

as of September 30, 2007, are as follows (in thousands):