Attached files
| file | filename |
|---|---|
| EX-5.2 - EX-5.2 - STARBUCKS CORP | d593042dex52.htm |
| EX-5.1 - EX-5.1 - STARBUCKS CORP | d593042dex51.htm |
| EX-4.2 - EX-4.2 - STARBUCKS CORP | d593042dex42.htm |
| EX-1.1 - EX-1.1 - STARBUCKS CORP | d593042dex11.htm |
| 8-K - 8-K - STARBUCKS CORP | d593042d8k.htm |
EXHIBIT 12.1
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
| Three Quarters Ended |
Fiscal Years Ended | |||||||||||||||||||||||||||||||||||||||||||
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July 1, 2018 |
Oct. 1, 2017 | Oct 2, 2016 | Sep 27, 2015 |
Sep 28, 2014 |
Sep 29, 2013 |
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| Earnings/(loss)(1) |
$ | 2,974.0 | $ | 4,317.5 | $ | 4,198.6 | $ | 3,903.0 | $ | 3,159.7 | $ | (229.9 | ) | |||||||||||||||||||||||||||||||
| Income from equity investees |
(213.5 | ) | (391.4 | ) | (318.2 | ) | (249.9 | ) | (268.3 | ) | (251.4 | ) | ||||||||||||||||||||||||||||||||
| Distributed income from equity investees |
171.7 | 186.6 | 223.3 | 148.2 | 139.2 | 115.6 | ||||||||||||||||||||||||||||||||||||||
| Amortization of capitalized interest |
2.9 | 4.1 | 4.4 | 4.1 | 3.6 | 2.6 | ||||||||||||||||||||||||||||||||||||||
| Fixed charges, excluding capitalized interest |
450.3 | 477.5 | 366.2 | 326.5 | 310.1 | 237.7 | ||||||||||||||||||||||||||||||||||||||
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| Total earnings/(loss) available for fixed charges |
$ | 3,385.4 | $ | 4,594.3 | $ | 4,474.3 | $ | 4,131.9 | $ | 3,344.3 | $ | (125.4 | ) | |||||||||||||||||||||||||||||||
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| Fixed charges: |
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| Interest and debt expense(2) |
$ | 109.5 | $ | 93.6 | $ | 82.2 | $ | 74.2 | $ | 70.2 | $ | 38.5 | ||||||||||||||||||||||||||||||||
| Interest portion of rental expense |
343.9 | 385.0 | 285.0 | 256.0 | 246.0 | 209.6 | ||||||||||||||||||||||||||||||||||||||
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| Total fixed charges |
$ | 453.5 | $ | 478.6 | $ | 367.2 | $ | 330.2 | $ | 316.2 | $ | 248.1 | ||||||||||||||||||||||||||||||||
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| Ratio of earnings to fixed charges(3) |
7.5 | 9.6 | 12.2 | 12.5 | 10.6 | — | ||||||||||||||||||||||||||||||||||||||
(1) Earnings/(loss) represents income/(loss) from continuing operations before gains resulting from the acquisition of joint venture and divestiture of certain operations and income taxes.
(2) Includes amortization of debt-related expenses and interest capitalized during the period. Excludes interest on uncertain tax positions, which is recorded in income tax expense/(benefit) in the consolidated statements of earnings.
(3) For the fiscal year ended September 29, 2013, our earnings were insufficient to cover fixed charges by $373.5 million.