Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - STARBUCKS CORP | d345081d8k.htm |
| EX-5.2 - EX-5.2 - STARBUCKS CORP | d345081dex52.htm |
| EX-5.1 - EX-5.1 - STARBUCKS CORP | d345081dex51.htm |
| EX-4.2 - EX-4.2 - STARBUCKS CORP | d345081dex42.htm |
| EX-1.1 - EX-1.1 - STARBUCKS CORP | d345081dex11.htm |
EXHIBIT 12.1
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
| Quarter Ended |
Fiscal Years Ended | |||||||||||||||||||||||||||||||||
| Jan 1, 2017 |
Oct 2, 2016 |
Sep 27, 2015 |
Sep 28, 2014 |
Sep 29, 2013 |
Sep 30, 2012 |
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| Earnings/(loss)(1) |
$ | 1,132.9 | $ | 4,198.6 | $ | 3,903.0 | $ | 3,159.7 | $ | (229.9) | $ | 2,059.1 | ||||||||||||||||||||||
| Income from equity investees |
(84.4) | (318.2) | (249.9) | (268.3) | (251.4) | (210.7) | ||||||||||||||||||||||||||||
| Distributed income from equity investees |
39.1 | 223.3 | 148.2 | 139.2 | 115.6 | 86.7 | ||||||||||||||||||||||||||||
| Amortization of capitalized interest |
1.1 | 4.4 | 4.1 | 3.6 | 2.6 | 2.2 | ||||||||||||||||||||||||||||
| Fixed charges, excluding capitalized interest |
99.6 | 366.2 | 326.5 | 310.1 | 237.7 | 224.5 | ||||||||||||||||||||||||||||
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| Total earnings/(loss) available for fixed charges |
$ | 1,188.3 | $ | 4,474.3 | $ | 4,131.9 | $ | 3,344.3 | $ | (125.4) | $ | 2,161.8 | ||||||||||||||||||||||
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| Fixed charges: |
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| Interest and debt expense(2) |
$ | 23.8 | $ | 82.2 | $ | 74.2 | $ | 70.2 | $ | 38.5 | $ | 35.9 | ||||||||||||||||||||||
| Interest portion of rental expense |
75.8 | 285.0 | 256.0 | 246.0 | 209.6 | 191.8 | ||||||||||||||||||||||||||||
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| Total fixed charges |
$ | 99.6 | $ | 367.2 | $ | 330.2 | $ | 316.2 | $ | 248.1 | $ | 227.7 | ||||||||||||||||||||||
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| Ratio of earnings to fixed charges(3) |
11.9 | 12.2 | 12.5 | 10.6 | — | 9.5 | ||||||||||||||||||||||||||||
(1) Earnings/(loss) represents income/(loss) from continuing operations before 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.