STARBUCKS CORP
For the period ended Dec 29, 2024. Filed Jan 28, 2025.
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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 29, 2024 · Filed Jan 28, 2025
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Equity
Note 11: Equity
Changes in AOCI by component, net of tax(in millions):
| Quarter Ended | Available-for-Sale Debt Securities | Cash Flow Hedges | Net Investment Hedges | Translation Adjustment and Other | Total |
|---|---|---|---|---|---|
| Net gains/(losses) in AOCI, beginning of period | $(2.3) | $70.5 | $247.7 | $(744.7) | $(428.8) |
| Net gains/(losses) recognized in OCI before reclassifications | (1.6) | 51.5 | 155.1 | (311.2) | (106.2) |
| Net (gains)/losses reclassified from AOCI to earnings | 0.2 | (27.8) | (20.7) | — | (48.3) |
| Other comprehensive income/(loss) attributable to Starbucks | (1.4) | 23.7 | 134.4 | (311.2) | (154.5) |
| Other comprehensive income/(loss) attributable to NCI | — | — | — | (0.3) | (0.3) |
| Net gains/(losses) in AOCI, end of period | $(3.7) | $94.2 | $382.1 | $(1,056.2) | $(583.6) |
| Net gains/(losses) in AOCI, beginning of period | $(12.3) | $(47.5) | $243.3 | $(961.7) | $(778.2) |
| Net gains/(losses) recognized in OCI before reclassifications | 4.2 | 33.6 | (18.9) | 178.2 | 197.1 |
| Net (gains)/losses reclassified from AOCI to earnings | 0.2 | 29.6 | (6.7) | — | 23.1 |
| Other comprehensive income/(loss) attributable to Starbucks | 4.4 | 63.2 | (25.6) | 178.2 | 220.2 |
| Other comprehensive income/(loss) attributable to NCI | — | — | — | 0.2 | 0.2 |
| Net gains/(losses) in AOCI, end of period | $(7.9) | $15.7 | $217.7 | $(783.3) | $(557.8) |
Impact of reclassifications from AOCI on the consolidated statements of earnings(in millions):
| Quarter Ended | |||
|---|---|---|---|
| AOCI Components · Amounts Reclassified from AOCI · Affected Line Item in the Statements of Earnings | |||
| Dec 29, 2024 · Dec 31, 2023 | |||
| Gains/(losses) on available-for-sale debt securities | $(0.2) | $(0.3) | Interest income and other, net |
| Gains/(losses) on cash flow hedges | 39.4 | (33.5) | Please refer to Note 3, Derivative Financial Instruments for additional information. |
| Gains/(losses) on net investment hedges | 27.7 | 8.9 | Interest expense |
| 66.9 | (24.9) | Total before tax | |
| (18.6) | 1.8 | Tax (expense)/benefit | |
| $48.3 | $(23.1) | Net of tax | |
In addition to 2.4 billion shares of authorized common stock with $0.001 par value per share, we have 7.5 million shares of authorized preferred stock, none of which was outstanding as of December 29, 2024.
During the quarter ended December 29, 2024, we madeno share repurchases. During the quarter ended December 31, 2023, we repurchased 12.8 million shares of common stock on the open market for $1,250.1 million. As of December 29, 2024,29.8 million shares remained available for repurchase under current authorizations.
During the first quarter of fiscal 2025, our Board of Directors approved a quarterly cash dividend to shareholders of $0.61 per share to be paid on February 28, 2025 to shareholders of record as of the close of business on February 14, 2025.
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