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Equity
9 Months Ended
Jun. 28, 2015
Equity [Abstract]  
Equity
Equity
Changes in total equity (in millions):
 
Three Quarters Ended
 
Jun 28, 2015
 
Jun 29, 2014
 
Attributable to Starbucks
 
Noncontrolling interest
 
Total Equity
 
Attributable to Starbucks
 
Noncontrolling interest
 
Total Equity
Beginning balance of total equity
$
5,272.0

 
$
1.7

 
$
5,273.7

 
$
4,480.2

 
$
2.1

 
$
4,482.3

Net earnings including noncontrolling interests
2,104.9

 
1.9

 
2,106.8

 
1,480.3

 
(0.1
)
 
1,480.2

Translation adjustment, net of reclassifications and tax
(121.3
)
 
(31.1
)
 
(152.4
)
 
(8.5
)
 

 
(8.5
)
Unrealized gains/(losses), net of reclassifications and tax
(4.0
)
 

 
(4.0
)
 
12.4

 

 
12.4

Other comprehensive income/(loss)
(125.3
)
 
(31.1
)
 
(156.4
)
 
3.9

 

 
3.9

Stock-based compensation expense
157.6

 

 
157.6

 
144.0

 

 
144.0

Exercise of stock options/vesting of RSUs
153.2

 

 
153.2

 
126.3

 

 
126.3

Sale of common stock
17.5

 

 
17.5

 
16.5

 

 
16.5

Repurchase of common stock
(975.9
)
 

 
(975.9
)
 
(595.2
)
 

 
(595.2
)
Cash dividends declared
(718.2
)
 

 
(718.2
)
 
(587.2
)
 

 
(587.2
)
Noncontrolling interest resulting from acquisition

 
411.1

 
411.1

 

 

 

Purchase of noncontrolling interests
(29.3
)
 
(381.8
)
 
(411.1
)
 

 

 

Ending balance of total equity
$
5,856.5

 
$
1.8

 
$
5,858.3

 
$
5,068.8

 
$
2.0

 
$
5,070.8


Changes in accumulated other comprehensive income ("AOCI") by component, net of tax (in millions):
Quarter Ended
 
 Available-for-Sale Securities
 
 Cash Flow Hedges
 
 Net Investment Hedges
 
Translation Adjustment
 
Total
June 28, 2015
 
 
 
 
 
 
 
 
 
Net gains/(losses) in AOCI, beginning of period
$
0.4

 
$
46.6

 
$
1.3

 
$
(165.2
)
 
$
(116.9
)
Net gains/(losses) recognized in OCI before reclassifications
(1.1
)
 
25.1

 

 
(11.0
)
 
13.0

Net (gains)/losses reclassified from AOCI to earnings
(0.5
)
 
(26.7
)
 

 

 
(27.2
)
Other comprehensive income/(loss) attributable to Starbucks
(1.6
)
 
(1.6
)
 

 
(11.0
)
 
(14.2
)
Net gains/(losses) in AOCI, end of period
$
(1.2
)
 
$
45.0

 
$
1.3

 
$
(176.2
)
 
$
(131.1
)
 
 
 
 
 
 
 
 
 
 
June 29, 2014
 
 
 
 
 
 
 
 
 
Net gains/(losses) in AOCI, beginning of period
$
(0.8
)
 
$
46.8

 
$
(9.2
)
 
$
27.5

 
$
64.3

Net gains/(losses) recognized in OCI before reclassifications
1.1

 
(10.2
)
 
(0.4
)
 
17.6

 
8.1

Net (gains)/losses reclassified from AOCI to earnings

 
(1.5
)
 

 

 
(1.5
)
Other comprehensive income/(loss) attributable to Starbucks
1.1

 
(11.7
)
 
(0.4
)
 
17.6

 
6.6

Net gains/(losses) in AOCI, end of period
$
0.3

 
$
35.1

 
$
(9.6
)
 
$
45.1

 
$
70.9

Three Quarters Ended
 
 Available-for-Sale Securities
 
 Cash Flow Hedges
 
 Net Investment Hedges
 
Translation Adjustment
 
Total
June 28, 2015
 
 
 
 
 
 
 
 
 
Net gains/(losses) in AOCI, beginning of period
$
(0.4
)
 
$
46.3

 
$
3.2

 
$
(23.8
)
 
$
25.3

Net gains/(losses) recognized in OCI before reclassifications
0.2

 
73.6

 
2.7

 
(135.6
)
 
(59.1
)
Net (gains)/losses reclassified from AOCI to earnings
(1.0
)
 
(74.9
)
 
(4.6
)
 
14.3

 
(66.2
)
Other comprehensive income/(loss) attributable to Starbucks
(0.8
)
 
(1.3
)
 
(1.9
)
 
(121.3
)
 
(125.3
)
Purchase of noncontrolling interests

 

 

 
(31.1
)
 
(31.1
)
Net gains/(losses) in AOCI, end of period
$
(1.2
)
 
$
45.0

 
$
1.3

 
$
(176.2
)
 
$
(131.1
)
 
 
 
 
 
 
 
 
 
 
June 29, 2014
 
 
 
 
 
 
 
 
 
Net gains/(losses) in AOCI, beginning of period
$
(0.5
)
 
$
26.8

 
$
(12.9
)
 
$
53.6

 
$
67.0

Net gains/(losses) recognized in OCI before reclassifications
0.6

 
3.7

 
3.3

 
(8.5
)
 
(0.9
)
Net (gains)/losses reclassified from AOCI to earnings
0.2

 
4.6

 

 

 
4.8

Other comprehensive income/(loss) attributable to Starbucks
0.8

 
8.3

 
3.3

 
(8.5
)
 
3.9

Net gains/(losses) in AOCI, end of period
$
0.3

 
$
35.1

 
$
(9.6
)
 
$
45.1

 
$
70.9


Impact of reclassifications from AOCI on the consolidated statements of earnings (in millions):
Quarter Ended
AOCI
Components
 
Amounts Reclassified from AOCI
 
Affected Line Item in
the Statements of Earnings
 
Jun 28, 2015
 
Jun 29, 2014
 
Gains/(losses) on cash flow hedges
 
 
 
 
 
 
Interest rate hedges
 
$
1.2

 
$
1.3

 
Interest expense
Cross-currency swaps
 
29.5

 

 
Interest income and other, net
Foreign currency hedges
 
3.7

 
0.9

 
Revenues
Foreign currency/coffee hedges
 
3.0

 
0.4

 
Cost of sales including occupancy costs
 
 
37.4

 
2.6

 
Total before tax
 
 
(10.7
)
 
(1.1
)
 
Tax (expense)/benefit
 
 
$
26.7

 
$
1.5

 
Net of tax

Three Quarters Ended
AOCI
Components
 
Amounts Reclassified from AOCI
 
Affected Line Item in
the Statements of Earnings
 
Jun 28, 2015
 
Jun 29, 2014
 
Gains/(losses) on cash flow hedges
 
 
 
 
 
 
Interest rate hedges
 
$
3.8

 
$
3.8

 
Interest expense
Cross-currency swaps
 
82.0

 

 
Interest income and other, net
Foreign currency hedges
 
9.6

 
3.2

 
Revenues
Foreign currency/coffee hedges
 
4.1

 
(9.5
)
 
Cost of sales including occupancy costs
Gains/(losses) on net investment hedges(1)
 
7.2

 

 
Gain resulting from acquisition of joint venture
Translation adjustment(2)
 
 
 
 
 
 
     Starbucks Japan
 
(7.2
)
 

 
Gain resulting from acquisition of joint venture
      Other
 
(7.1
)
 

 
Interest income and other, net
 
 
92.4

 
(2.5
)
 
Total before tax
 
 
(27.2
)
 
(2.1
)
 
Tax (expense)/benefit
 
 
$
65.2

 
$
(4.6
)
 
Net of tax
(1)  
Release of pretax cumulative net gains in AOCI related to our net investment derivative instruments used to hedge our preexisting 39.5% equity method investment in Starbucks Japan.
(2)  
Release of cumulative translation adjustments to earnings upon sale or liquidation of foreign business.
As discussed in Note 1, Summary of Significant Accounting Policies, on April 9, 2015, we effected a two-for-one stock split of our $0.001 par value common stock for shareholders of record as of March 30, 2015. All share data presented in this note has been retroactively adjusted to reflect this stock split.
In addition to 2.4 billion shares of authorized common stock with $0.001 par value per share, the Company has authorized 7.5 million shares of preferred stock, none of which was outstanding as of June 28, 2015.
We repurchased 20.7 million shares of common stock at a total cost of $975.9 million, and 16.5 million shares at a total cost of $595.2 million for the three quarters ended June 28, 2015 and June 29, 2014, respectively. As of June 28, 2015, 11.0 million shares remained available for repurchase under the authorization publicly announced on November 15, 2012. On July 23, 2015, we announced that our Board of Directors approved an increase of 50 million shares to our ongoing share repurchase program.
During the third quarter of fiscal 2015, our Board of Directors declared a quarterly cash dividend to shareholders of $0.16 per share to be paid on August 21, 2015 to shareholders of record as of the close of business on August 6, 2015.