STARBUCKS CORP
For the period ended Dec 28, 2025. Filed Jan 28, 2026.
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Dec 28, 2025 · Filed Jan 28, 2026
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Income Taxes
Note 13: Income Taxes
The effective tax rate for the quarter ended December 28, 2025 was 61.7% compared to 23.6% for the same period in fiscal 2025. The increase was primarily due to the $266 million discrete impact of changes in indefinite reinvestment assertions as a result of classifying our Starbucks retail operations in China as held for sale in the first quarter of fiscal 2026 (approximately 3,500 basis points) and lapping the discrete impact of a tax status change for a certain foreign entity in the first quarter of fiscal 2025 (300 basis points).
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