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Equity
 12 Months Ended
Sep. 27, 2020
Equity [Abstract]  
Equity Equity
In addition to 2.4 billion shares of authorized common stock with $0.001 par value per share, we have authorized 7.5 million shares of preferred stock, none of which was outstanding at October 3, 2021.
In March 2019, we entered into ASR agreements with third-party financial institutions totaling $2.0 billion, effective March 22, 2019. We made a $2.0 billion up-front payment to the financial institutions and received an initial delivery of 22.2 million shares. In June 2019, we received an additional 3.9 million shares upon the completion of the program based on a volume-weighted average share price (less discount) of $76.50.
Outside of the ASR agreements noted above, we repurchased 36.6 million shares of common stock for $3.1 billion on the open market during the year ended September 29, 2019. In total, we repurchased 139.6 million shares at a total cost of $10.1 billion for the year ended September 29, 2019.
Our Board of Directors authorized the repurchase of up to an additional 120 million and 40 million shares under our ongoing share repurchase program during the fiscal first quarter of 2019 and fiscal second quarter of 2020, respectively. In March 2020, we announced a temporary suspension of our share repurchase program until we restored certain financial leverage targets. We repurchased 20.3 million shares of common stock for $1.7 billion on the open market during the year ended September 27, 2020. As of September 27, 2020, 48.9 million shares remained available for repurchase under current authorizations. Due to our business recovery and restoration of certain leverage metrics, we have resumed our share repurchase program in the first quarter of fiscal 2022.
During the fourth quarter of fiscal 2021, our Board of Directors declared a quarterly cash dividend to shareholders of $0.49 per share to be paid on November 26, 2021 to shareholders of record as of the close of business on November 12, 2021.
Comprehensive Income
Comprehensive income includes all changes in equity during the period, except those resulting from transactions with our shareholders. Comprehensive income is comprised of net earnings and other comprehensive income. Accumulated other comprehensive income reported on our consolidated balance sheets consists of foreign currency translation adjustments and other items and the unrealized gains and losses, net of applicable taxes, on available-for-sale debt securities and on derivative instruments designated and qualifying as cash flow and net investment hedges.
Changes in AOCI by component for the years ended October 3, 2021, September 27, 2020 and September 29, 2019, net of tax, are as follows:
(in millions) Available-for-Sale Securities Cash Flow Hedges Net Investment HedgesTranslation Adjustment and OtherTotal
October 3, 2021
Net gains/(losses) in AOCI, beginning of period$5.7 $(82.1)$11.5 $(299.7)$(364.6)
Net gains/(losses) recognized in OCI before reclassifications(2.7)240.2 47.1 190.4 475.0 
Net (gains)/losses reclassified from AOCI to earnings(1.5)0.2 (10.0)48.1 36.8 
Other comprehensive income/(loss) attributable to Starbucks(4.2)240.4 37.1 238.5 511.8 
Net gains/(losses) in AOCI, end of period$1.5 $158.3 $48.6 $(61.2)$147.2 
(in millions) Available-for-Sale Securities Cash Flow Hedges Net Investment HedgesTranslation Adjustment and OtherTotal
September 27, 2020
Net gains/(losses) in AOCI, beginning of period$3.9 $11.0 $(10.1)$(508.1)$(503.3)
Net gains/(losses) recognized in OCI before reclassifications6.5 (95.0)28.9 208.4 148.8 
Net (gains)/losses reclassified from AOCI to earnings(4.0)(1.1)(9.8)— (14.9)
Other comprehensive income/(loss) attributable to Starbucks2.5 (96.1)19.1 208.4 133.9 
Cumulative effect of accounting adoption(0.7)3.0 2.5 — 4.8 
Net gains/(losses) in AOCI, end of period$5.7 $(82.1)$11.5 $(299.7)$(364.6)
(in millions) Available-for-Sale Securities Cash Flow Hedges Net Investment HedgesTranslation Adjustment and OtherTotal
September 29, 2019
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 reclassifications8.2 (10.7)(29.7)(143.7)(175.9)
Net (gains)/losses reclassified from AOCI to earnings0.6 4.0 — (1.7)2.9 
Other comprehensive income/(loss) attributable to Starbucks8.8 (6.7)(29.7)(145.4)(173.0)
Net gains/(losses) in AOCI, end of period$3.9 $11.0 $(10.1)$(508.1)$(503.3)
Impact of reclassifications from AOCI on the consolidated statements of earnings (in millions):
AOCI
Components
Amounts Reclassified from AOCI
Affected Line Item in
the Statements of Earnings
Year Ended
Oct 3, 2021Sep 27, 2020Sep 29, 2019
Gains/(losses) on available-for-sale securities$1.8 $4.9 $0.9 Interest income and other, net
Gains/(losses) on cash flow hedges1.9 1.9 (3.9)
Please refer to Note 3, Derivative Instruments for additional information.
Gains/(losses) on net investment hedges13.4 13.3 — Interest expense
Translation adjustment and other (1)
Korea(58.9)— — Net gain resulting from divestiture of certain operations
Thailand— — 1.7 Net gain resulting from divestiture of certain operations
(41.8)20.1 (1.3)Total before tax
5.0 (5.2)(1.6)Tax (expense)/benefit
$(36.8)$14.9 $(2.9)Net of tax
(1)     Release of cumulative translation adjustments and other activities to earnings upon sale or liquidation of foreign businesses.