EX-12 3 sbux-93012xexhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES SBUX - 9.30.12 - Exhibit 12


EXHIBIT 12
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
Sep 30,
2012
 
Oct 2,
2011
 
Oct 3,
2010
 
Sep 27,
2009
 
Sep 28,
2008
Fiscal year ended
 
 
 
 
 
 
 
 
 
 
Earnings(1)
 
$
2,059.1

 
$
1,811.1

 
$
1,437.0

 
$
559.9

 
$
455.6

Income from equity investees
 
(210.7
)
 
(173.7
)
 
(148.1
)
 
(121.9
)
 
(113.6
)
Distributed income from equity investees
 
86.7

 
85.6

 
91.4

 
53.0

 
52.6

Amortization of capitalized interest
 
2.2

 
1.8

 
1.2

 
1.0

 
0.8

Fixed charges, excluding capitalized interest
 
224.5

 
252.0

 
266.3

 
284.4

 
300.4

Total earnings available for fixed charges
 
$
2,161.8

 
$
1,976.8

 
$
1,647.8

 
$
776.4

 
$
695.8

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and debt expense(2)
 
$
35.9

 
$
37.7

 
$
37.7

 
$
42.2

 
$
61.4

Interest portion of rental expense
 
191.8

 
218.7

 
233.5

 
245.1

 
246.2

Total fixed charges
 
$
227.7

 
$
256.4

 
$
271.2

 
$
287.3

 
$
307.6

Ratio of earnings to fixed charges
 
9.5

 
7.7

 
6.1

 
2.7

 
2.3

(1) Earnings represent income from continuing operations before provision for income taxes.
(2) Includes amortization of debt-related expenses and interest capitalized during the period.