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Equity
3 Months Ended
Dec. 30, 2018
Equity [Abstract]  
Equity
Changes in total equity (in millions):
 
Quarter Ended
 
Dec 30, 2018
 
Dec 31, 2017
 
Attributable to Starbucks
 
Noncontrolling interests
 
Total Equity
 
Attributable to Starbucks
 
Noncontrolling interest
 
Total Equity
Beginning balance of total equity
$
1,169.5

 
$
6.3

 
$
1,175.8

 
$
5,450.1

 
$
6.9

 
$
5,457.0

Cumulative effect of adoption of new accounting guidance
495.6

 

 
495.6

 

 

 

Net earnings including noncontrolling interests
760.6

 
(0.2
)
 
760.4

 
2,250.2

 
(0.1
)
 
2,250.1

Translation adjustment and other, net of reclassifications and tax
1.6

 

 
1.6

 
28.1

 

 
28.1

Unrealized gains/(losses), net of reclassifications and tax
(14.5
)
 

 
(14.5
)
 
2.2

 

 
2.2

Other comprehensive income/(loss)
(12.9
)
 

 
(12.9
)
 
30.3

 

 
30.3

Stock-based compensation expense
98.0

 

 
98.0

 
62.2

 

 
62.2

Exercise of stock options/vesting of RSUs
45.0

 

 
45.0

 
(9.1
)
 

 
(9.1
)
Sale of common stock
8.1

 

 
8.1

 
7.4

 

 
7.4

Repurchase of common stock
(5,000.0
)
 

 
(5,000.0
)
 
(1,618.2
)
 

 
(1,618.2
)
Cash dividends declared
(448.8
)
 

 
(448.8
)
 
(420.8
)
 

 
(420.8
)
Ending balance of total equity
$
(2,884.9
)
 
$
6.1

 
$
(2,878.8
)
 
$
5,752.1

 
$
6.8

 
$
5,758.9


Changes in AOCI by component, net of tax (in millions):
Quarter Ended
 
 Available-for-Sale Securities
 
 Cash Flow Hedges
 
 Net Investment Hedges
 
Translation Adjustment and Other
 
Total
December 30, 2018
 
 
 
 
 
 
 
 
 
Net gains/(losses) in AOCI, beginning of period
$
(4.9
)
 
$
17.7

 
$
19.6

 
$
(362.7
)
 
$
(330.3
)
Net gains/(losses) recognized in OCI before reclassifications
1.7

 
(7.3
)
 
(16.3
)
 
1.6

 
(20.3
)
Net (gains)/losses reclassified from AOCI to earnings
0.3

 
7.1

 

 

 
7.4

Other comprehensive income/(loss) attributable to Starbucks
2.0

 
(0.2
)
 
(16.3
)
 
1.6

 
(12.9
)
Net gains/(losses) in AOCI, end of period
$
(2.9
)
 
$
17.5

 
$
3.3

 
$
(361.1
)
 
$
(343.2
)
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
Net gains/(losses) in AOCI, beginning of period
$
(2.5
)
 
$
(4.1
)
 
$
14.0

 
$
(163.0
)
 
$
(155.6
)
Net gains/(losses) recognized in OCI before reclassifications
(1.7
)
 
(1.9
)
 
(0.3
)
 
35.3

 
31.4

Net (gains)/losses reclassified from AOCI to earnings
1.2

 
4.9

 

 
(7.2
)
 
(1.1
)
Other comprehensive income/(loss) attributable to Starbucks
(0.5
)
 
3.0

 
(0.3
)
 
28.1

 
30.3

Net gains/(losses) in AOCI, end of period
$
(3.0
)
 
$
(1.1
)
 
$
13.7

 
$
(134.9
)
 
$
(125.3
)

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
 
Dec 30, 2018
 
Dec 31, 2017
 
Gains/(losses) on available-for-sale securities
 
$
0.5

 
$
(1.6
)
 
Interest income and other, net
Gains/(losses) on cash flow hedges
 
 
 
 
 
 
Interest rate hedges
 
1.4

 
1.2

 
Interest expense
Cross-currency swaps
 
(11.7
)
 
(0.5
)
 
Interest income and other, net
Foreign currency hedges
 
1.4

 
(0.4
)
 
Revenues
Foreign currency/coffee hedges
 
0.3

 
(5.7
)
 
Cost of sales including occupancy costs
Translation adjustment
 
 
 
 
 
 
East China joint venture
 

 
7.2

 
Gain resulting from acquisition of joint venture
Taiwan joint venture
 

 
1.4

 
Gain/(loss) resulting from divestiture of certain operations
Other
 

 
(1.8
)
 
Interest income and other, net
 
 
(8.1
)
 
(0.2
)
 
Total before tax
 
 
0.7

 
1.3

 
Tax (expense)/benefit
 
 
$
(7.4
)
 
$
1.1

 
Net of tax

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 December 30, 2018.
In September 2018, we entered into accelerated share repurchase agreements (“ASR agreements”) with third-party financial institutions totaling $5.0 billion, effective October 1, 2018. We made a $5.0 billion upfront payment to the financial institutions and received an initial delivery of 72.0 million shares of our common stock. Upon completion, the total shares repurchased will be based on the volume-weighted average share price during the term of the ASR agreements less an applicable discount. The financial institutions may be required to deliver additional shares or, under certain circumstances, we may elect to deliver shares or make a cash payment to the financial institutions. Final settlement is expected to be completed as early as February 2019 and no later than March 2019. During the quarter ended December 31, 2017, we repurchased 28.5 million shares at a total cost of $1.6 billion. In the first quarter of fiscal 2019, we announced that our Board of Directors approved an increase of 120 million shares to our ongoing share repurchase program. As of December 30, 2018, 96.8 million shares remained available for repurchase under current authorizations.
During the first quarter of fiscal 2019, our Board of Directors declared a quarterly cash dividend to shareholders of $0.36 per share to be paid on February 22, 2019 to shareholders of record as of the close of business on February 7, 2019.