EX-12 7 sbux-9292013xexhibit12.htm EXHIBIT 12 SBUX - 9.29.2013 - Exhibit 12


EXHIBIT 12
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
 
 
Sep 29,
2013
 
Sep 30,
2012
 
Oct 2,
2011
 
Oct 3,
2010
 
Sep 27,
2009
Fiscal year ended
 
 
 
 
 
 
 
 
 
 
Earnings/(loss) (1)
 
$
(229.9
)
 
$
2,059.1

 
$
1,811.1

 
$
1,437.0

 
$
559.9

Income from equity investees
 
(251.4
)
 
(210.7
)
 
(173.7
)
 
(148.1
)
 
(121.9
)
Distributed income from equity investees
 
115.6

 
86.7

 
85.6

 
91.4

 
53.0

Amortization of capitalized interest
 
2.6

 
2.2

 
1.8

 
1.2

 
1.0

Fixed charges, excluding capitalized interest
 
237.7

 
224.5

 
252.0

 
266.3

 
284.4

Total earnings/(loss) available for fixed charges
 
$
(125.4
)
 
$
2,161.8

 
$
1,976.8

 
$
1,647.8

 
$
776.4

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest and debt expense(2)
 
$
38.5

 
$
35.9

 
$
37.7

 
$
37.7

 
$
42.2

Interest portion of rental expense
 
209.6

 
191.8

 
218.7

 
233.5

 
245.1

Total fixed charges
 
$
248.1

 
$
227.7

 
$
256.4

 
$
271.2

 
$
287.3

Ratio of earnings to fixed charges(3) 
 
—

 
9.5

 
7.7

 
6.1

 
2.7

(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.
(3) For the fiscal year ended September 29, 2013, our earnings were insufficient to cover fixed charges by $373.5 million.