STARBUCKS CORP
For the period ended Mar 31, 2024. Filed Apr 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.
Mar 31, 2024 · Filed Apr 30, 2024
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Other Intangible Assets and Goodwill
Note 7: Other Intangible Assets and Goodwill
Indefinite-Lived Intangible Assets
| (in millions) | Mar 31, 2024 | Oct 1, 2023 |
|---|---|---|
| Trade names, trademarks and patents | $79.5 | $79.4 |
Finite-Lived Intangible Assets
| Mar 31, 2024 | Oct 1, 2023 | |||||
|---|---|---|---|---|---|---|
| (in millions) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount |
| Acquired and reacquired rights | $962.0 | $(962.0) | $— | $957.6 | $(957.6) | $— |
| Acquired trade secrets and processes | 27.6 | (27.6) | — | 27.6 | (27.6) | — |
| Trade names, trademarks and patents | 130.3 | (100.6) | 29.7 | 131.0 | (91.9) | 39.1 |
| Licensing agreements | 12.9 | (11.4) | 1.5 | 13.0 | (11.0) | 2.0 |
| Other finite-lived intangible assets | 20.3 | (20.3) | — | 20.1 | (20.1) | — |
| Total finite-lived intangible assets | $1,153.1 | $(1,121.9) | $31.2 | $1,149.3 | $(1,108.2) | $41.1 |
Amortization expense for finite-lived intangible assets was $5.1 million and $10.2 million for the quarter and two quarters ended March 31, 2024, respectively, and $5.3 million and $10.9 million for the quarter and two quarters ended April 2, 2023, respectively.
Estimated future amortization expense as of March 31, 2024 (in millions):
| Fiscal Year | Total |
|---|---|
| 2024 (excluding the two quarters ended March 31, 2024) | $9.9 |
| 2025 | 14.0 |
| 2026 | 2.1 |
| 2027 | 1.8 |
| 2028 | 1.2 |
| Thereafter | 2.2 |
| Total estimated future amortization expense | $31.2 |
Goodwill
Changes in the carrying amount of goodwill by reportable operating segment(in millions):
| North America | International | Channel Development | Corporate and Other | Total | |
|---|---|---|---|---|---|
| Goodwill balance at October 1, 2023 | $491.5 | $2,691.1 | $34.7 | $1.0 | $3,218.3 |
| Other(1) | (0.1) | 11.1 | — | — | 11.0 |
| Goodwill balance at March 31, 2024 | $491.4 | $2,702.2 | $34.7 | $1.0 | $3,229.3 |
(1)“Other” consists of changes in the goodwill balance resulting from foreign currency translation.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.