STARBUCKS CORP
For the period ended Dec 31, 2023. Filed Jan 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Jan 30, 2024
SBUX$109.95+0.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
(in millions, unaudited)
| Quarter Ended | ||
|---|---|---|
| Dec 31,2023 | Jan 1,2023 | |
| OPERATING ACTIVITIES: | ||
| Net earnings including noncontrolling interests | $1,024.4 | $855.2 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 384.4 | 342.5 |
| Deferred income taxes, net | 26.1 | 15.8 |
| Income earned from equity method investees | (59.0) | (56.9) |
| Distributions received from equity method investees | 105.2 | 45.7 |
| Stock-based compensation | 94.8 | 85.2 |
| Non-cash lease costs | 278.0 | 263.7 |
| Loss on retirement and impairment of assets | 28.3 | 21.1 |
| Other | 17.8 | 6.7 |
| Cash provided by/(used in) changes in operating assets and liabilities: | ||
| Accounts receivable | 42.3 | 42.0 |
| Inventories | 174.3 | 108.5 |
| Income taxes payable | 189.6 | 147.6 |
| Accounts payable | (95.8) | (117.3) |
| Deferred revenue | 508.5 | 461.0 |
| Operating lease liability | (290.5) | (281.4) |
| Other operating assets and liabilities | (44.5) | (346.2) |
| Net cash provided by operating activities | 2,383.9 | 1,593.2 |
| INVESTING ACTIVITIES: | ||
| Purchases of investments | (217.1) | (10.5) |
| Sales of investments | — | 0.8 |
| Maturities and calls of investments | 253.5 | 253.3 |
| Additions to property, plant and equipment | (595.9) | (516.8) |
| Other | (9.3) | (6.1) |
| Net cash used in investing activities | (568.8) | (279.3) |
| FINANCING ACTIVITIES: | ||
| Net (payments)/proceeds from issuance of commercial paper | 300.0 | (175.0) |
| Net proceeds from issuance of short-term debt | 49.1 | — |
| Repayments of short-term debt | (33.8) | — |
| Repayments of long-term debt | (750.0) | — |
| Proceeds from issuance of common stock | 32.3 | 45.9 |
| Cash dividends paid | (648.1) | (608.3) |
| Repurchase of common stock | (1,266.7) | (191.4) |
| Minimum tax withholdings on share-based awards | (92.1) | (79.0) |
| Net cash used in financing activities | (2,409.3) | (1,007.8) |
| Effect of exchange rate changes on cash and cash equivalents | 43.1 | 62.0 |
| Net increase/(decrease) in cash and cash equivalents | (551.1) | 368.1 |
| CASH AND CASH EQUIVALENTS: | ||
| Beginning of period | 3,551.5 | 2,818.4 |
| End of period | $3,000.4 | $3,186.5 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Interest, net of capitalized interest | $120.1 | $116.7 |
| Income taxes | $143.0 | $106.2 |
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