Analysis of Debt
Total Debt (Carrying Amount)
Starbucks Corp., balance sheet: debt
US$ in thousands
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)
| 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%