Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

Analysis of Debt 

Microsoft Excel

Total Debt (Carrying Amount)

Starbucks Corp., balance sheet: debt

US$ in thousands

Microsoft Excel
Sep 29, 2024 Oct 1, 2023 Oct 2, 2022 Oct 3, 2021 Sep 27, 2020 Sep 29, 2019
Current portion of long-term debt 1,248,900 1,818,600 1,749,000 998,900 1,249,900
Long-term debt, excluding current portion 14,319,500 13,547,600 13,119,900 13,616,900 14,659,600 11,167,000
Total debt (carrying amount) 15,568,400 15,366,200 14,868,900 14,615,800 15,909,500 11,167,000

Based on: 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-10-01), 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29).


Current Portion of Long-Term Debt
The current portion of long-term debt was not reported in 2019, but in 2020 it appeared at 1,249,900 thousand US dollars. It then decreased to 998,900 thousand in 2021, followed by a significant increase in 2022 to 1,749,000 thousand. This upward trend continued slightly in 2023, reaching 1,818,600 thousand, before decreasing again to 1,248,900 thousand in 2024.
Long-Term Debt, Excluding Current Portion
There was a clear increase in long-term debt excluding the current portion from 11,167,000 thousand US dollars in 2019 to 14,659,600 thousand in 2020. This was followed by a gradual decrease over the next two years, with values at 13,616,900 thousand in 2021 and 13,119,900 thousand in 2022. In 2023, the long-term debt excluding the current portion rose slightly to 13,547,600 thousand and increased further to 14,319,500 thousand in 2024.
Total Debt (Carrying Amount)
Total debt showed a consistent growth over the six-year period. Starting at 11,167,000 thousand US dollars in 2019, it increased sharply to 15,909,500 thousand in 2020, then declined to 14,615,800 thousand in 2021. After this dip, total debt resumed an upward trajectory, reaching 14,868,900 thousand in 2022, 15,366,200 thousand in 2023, and 15,568,400 thousand in 2024.
Overall Insights
The data exhibits a pattern of total debt growth with fluctuations influenced by shifting proportions of current portion and long-term portions of debt. The large increase in total debt and long-term debt from 2019 to 2020 suggests significant financing activity or borrowing. Subsequent years show some refinancing or debt repayment dynamics given the decreases and increases in both current and long-term segments. The recent trend from 2022 to 2024 indicates a stabilization and moderate increase in total debt, with a reduction in the current portion in the final year, which may reflect debt maturity management or restructuring strategies.

Total Debt (Fair Value)

Microsoft Excel
Sep 29, 2024
Selected Financial Data (US$ in thousands)
Commercial paper program
Japanese Yen-denominated credit facilities
Long-term debt, including current portion 14,646,700
Total debt (fair value) 14,646,700
Financial Ratio
Debt, fair value to carrying amount ratio 0.94

Based on: 10-K (reporting date: 2024-09-29).


Weighted-average Interest Rate on Debt

Weighted-average effective interest rate on debt: 3.83%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
3.72% 1,243,400 46,267
4.79% 1,008,300 48,277
2.51% 486,800 12,224
4.96% 1,017,800 50,463
2.06% 477,100 9,819
3.53% 590,300 20,832
3.96% 748,400 29,622
3.84% 977,300 37,528
3.08% 679,000 20,940
2.58% 1,135,400 29,316
5.05% 520,800 26,280
3.16% 912,000 28,774
3.80% 513,100 19,488
5.13% 515,000 26,404
4.35% 308,500 13,414
3.77% 398,800 15,015
4.50% 903,400 40,689
4.45% 889,000 39,534
3.36% 367,900 12,369
3.53% 954,400 33,671
Total 14,646,700 560,923
3.83%

Based on: 10-K (reporting date: 2024-09-29).

1 US$ in thousands

2 Weighted-average interest rate = 100 × 560,923 ÷ 14,646,700 = 3.83%