Equity Investments

12 Months Ended

Sep. 29, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity and Other Investments

Equity Investments (in millions)

	Sep 29, 2019		Sep 30, 2018
Equity method investments	$	336.1	$	296.0
Other investments	59.9		38.7
Total	$	396.0	$	334.7

Equity Method Investments

As of September 29, 2019, we had 50% ownership interests in Starbucks Coffee Korea Co., Ltd. and Tata Starbucks Limited (India). These international entities operate licensed Starbucks^® retail stores. Additional disclosure regarding changes in our

equity method investments due to acquisition or divestiture is included at Note 2, Acquisitions, Divestitures and Strategic Alliance.

We also license the rights to produce and distribute Starbucks-branded products to our 50% owned joint venture, The North American Coffee Partnership with the Pepsi-Cola Company, which develops and distributes bottled Starbucks^® beverages, including Frappuccino^® coffee drinks, Starbucks Doubleshot^® espresso drinks, Starbucks Refreshers^® beverages, and Starbucks^® Iced Espresso Classics.

Our share of income and losses from our equity method investments is included in income from equity investees on our consolidated statements of earnings. Also included in this line item is our proportionate share of gross profit resulting from coffee and other product sales to, and royalty and license fee revenues generated from, equity investees. Revenues generated from these related parties were $130.7 million, $112.8 million, and $187.3 million in fiscal 2019, 2018 and 2017, respectively. Related costs of sales were $73.2 million, $71.5 million, and $109.3 million in fiscal 2019, 2018 and 2017, respectively. As of September 29, 2019 and September 30, 2018, there were $35.5 million and $41.2 million of accounts receivable from equity investees, respectively, on our consolidated balance sheets, primarily related to product sales and royalty revenues.

Other Investments

We have equity interests in entities that develop and operate Starbucks licensed stores in several global markets, as well as in companies that support our strategic initiatives. We do not have significant influence over these entities and their fair values are not readily determinable. Therefore, we elected to measure these investments at cost with adjustments for observable changes in price or impairment.