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
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Segment Reporting
Note 14: Segment Reporting
Segment information is prepared on the same basis that our chief executive officer, who is our chief operating decision maker, manages the segments, evaluates financial results, and makes key operating decisions.
Consolidated revenue mix by product type (in millions):
| Quarter Ended | ||||
|---|---|---|---|---|
| Dec 31, 2023 · Jan 1, 2023 | ||||
| Beverage(1) | $5,695.9 | 60% | $5,173.0 | 59% |
| Food(2) | 1,757.1 | 19% | 1,565.9 | 18% |
| Other(3) | 1,972.3 | 21% | 1,975.0 | 23% |
| Total | $9,425.3 | 100% | $8,713.9 | 100% |
(1)“Beverage” represents sales within our company-operated stores.
(2)“Food” includes sales within our company-operated stores.
(3)“Other” primarily consists of packaged and single-serve coffees and teas, royalty and licensing revenues, serveware, and beverage-related ingredients, among other items.
The tables below present financial information for our reportable operating segments and Corporate and Other segment(in millions):
Quarter Ended
| North America | International | Channel Development | Corporate and Other | Total | |
|---|---|---|---|---|---|
| Total net revenues | $7,120.7 | $1,846.3 | $448.0 | $10.3 | $9,425.3 |
| Depreciation and amortization expenses | 250.4 | 84.1 | — | 30.8 | 365.3 |
| Income from equity investees | — | 0.2 | 55.7 | — | 55.9 |
| Operating income/(loss) | $1,520.8 | $241.5 | $209.7 | $(486.6) | $1,485.4 |
| Total net revenues | $6,551.3 | $1,680.1 | $478.2 | $4.3 | $8,713.9 |
| Depreciation and amortization expenses | 216.9 | 81.5 | — | 28.7 | 327.1 |
| Income from equity investees | — | 0.5 | 57.3 | — | 57.8 |
| Operating income/(loss) | $1,212.4 | $240.4 | $226.3 | $(426.0) | $1,253.1 |
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