Attached files

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10-K - 10-K - STARBUCKS CORPsbux-1012017x10xk.htm
EX-32 - EXHIBIT 32 - STARBUCKS CORPsbux-1012017xexhibit32.htm
EX-31.2 - EXHIBIT 31.2 - STARBUCKS CORPsbux-1012017xexhibit312.htm
EX-31.1 - EXHIBIT 31.1 - STARBUCKS CORPsbux-1012017xexhibit311.htm
EX-23 - EXHIBIT 23 - STARBUCKS CORPsbux-1012017xexhibit23.htm
EX-21 - EXHIBIT 21 - STARBUCKS CORPsbux-1012017xexhibit21.htm
EX-10.26 - EXHIBIT 10.26 - STARBUCKS CORPsbux-1012017xexhibit1026.htm
EX-10.25 - EXHIBIT 10.25 - STARBUCKS CORPsbux-1012017xexhibit1025.htm
EX-10.24 - EXHIBIT 10.24 - STARBUCKS CORPsbux-1012017xexhibit1024.htm


EXHIBIT 12
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
Oct 1,
2017
 
Oct 2,
2016
 
Sep 27,
2015
 
Sep 28,
2014
 
Sep 29,
2013
Fiscal year ended
 
 
 
 
 
 
 
 
 
 
Earnings/(loss)(1)
 
$
4,317.5

 
$
4,198.6

 
$
3,903.0

 
$
3,159.7

 
$
(229.9
)
Income from equity investees
 
(391.4
)
 
(318.2
)
 
(249.9
)
 
(268.3
)
 
(251.4
)
Distributed income from equity investees
 
186.6

 
223.3

 
148.2

 
139.2

 
115.6

Amortization of capitalized interest
 
4.1

 
4.4

 
4.1

 
3.6

 
2.6

Fixed charges, excluding capitalized interest
 
477.5

 
366.2

 
326.5

 
310.1

 
237.7

Total earnings/(loss) available for fixed charges
 
$
4,594.3

 
$
4,474.3

 
$
4,131.9

 
$
3,344.3

 
$
(125.4
)
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and debt expense(2)
 
$
93.6

 
$
82.2

 
$
74.2

 
$
70.2

 
$
38.5

Interest portion of rental expense
 
385.0

 
285.0

 
256.0

 
246

 
209.6

Total fixed charges
 
$
478.6

 
$
367.2

 
$
330.2

 
$
316.2

 
$
248.1

Ratio of earnings to fixed charges(3) 
 
9.6

 
12.2

 
12.5

 
10.6

 

(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.