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Analysis of Income Taxes
- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Deferred Tax Assets and Liabilities, Classification
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Current Ratio
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
Income Tax Expense (Benefit)
Starbucks Corp., income tax expense (benefit), continuing operations
US$ in thousands
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
Item | Description | The company |
---|---|---|
Current taxes | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Starbucks Corp.’s current taxes increased from 2018 to 2019 but then decreased significantly from 2019 to 2020. |
Deferred taxes | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Starbucks Corp.’s deferred taxes decreased from 2018 to 2019 but then increased from 2019 to 2020 not reaching 2018 level. |
Income tax expense | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Starbucks Corp.’s income tax expense decreased from 2018 to 2019 and from 2019 to 2020. |
Effective Income Tax Rate (EITR)
Starbucks Corp., effective income tax rate (EITR) reconciliation
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
Item | Description | The company |
---|---|---|
Effective income tax rate, before impact of the Tax Act | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Starbucks Corp.’s effective income tax rate, before impact of the Tax Act increased from 2018 to 2019 and from 2019 to 2020. |
Components of Deferred Tax Assets and Liabilities
Starbucks Corp., components of deferred tax assets and liabilities
US$ in thousands
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
Item | Description | The company |
---|---|---|
Deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Starbucks Corp.’s deferred tax assets increased from 2018 to 2019 and from 2019 to 2020. |
Deferred tax asset, net of valuation allowance | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Starbucks Corp.’s deferred tax asset, net of valuation allowance increased from 2018 to 2019 and from 2019 to 2020. |
Net deferred tax asset (liability) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Starbucks Corp.’s net deferred tax asset (liability) increased from 2018 to 2019 and from 2019 to 2020. |
Deferred Tax Assets and Liabilities, Classification
Starbucks Corp., deferred tax assets and liabilities, classification
US$ in thousands
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
Item | Description | The company |
---|---|---|
Long-term deferred income tax assets | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. | Starbucks Corp.’s long-term deferred income tax assets increased from 2018 to 2019 and from 2019 to 2020. |
Long-term deferred income tax liabilities (included in Other long-term liabilities) | Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. | Starbucks Corp.’s long-term deferred income tax liabilities (included in Other long-term liabilities) decreased from 2018 to 2019 and from 2019 to 2020. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Starbucks Corp., adjustments to financial statements
US$ in thousands
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
Starbucks Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Starbucks Corp., adjusted financial ratios
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
Financial ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Starbucks Corp.’s adjusted current ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Starbucks Corp.’s adjusted net profit margin ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Starbucks Corp.’s adjusted total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Starbucks Corp.’s adjusted ROA deteriorated from 2018 to 2019 and from 2019 to 2020. |
Starbucks Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Current Ratio
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
2020 Calculations
1 Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= ÷ =
Liquidity ratio | Description | The company |
---|---|---|
Adjusted current ratio | A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. | Starbucks Corp.’s adjusted current ratio deteriorated from 2018 to 2019 but then slightly improved from 2019 to 2020. |
Adjusted Net Profit Margin
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
2020 Calculations
1 Net profit margin = 100 × Net earnings attributable to Starbucks ÷ Net revenues
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net earnings attributable to Starbucks ÷ Net revenues
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Starbucks Corp.’s adjusted net profit margin ratio deteriorated from 2018 to 2019 and from 2019 to 2020. |
Adjusted Total Asset Turnover
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
2020 Calculations
1 Total asset turnover = Net revenues ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Net revenues ÷ Adjusted total assets
= ÷ =
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Starbucks Corp.’s adjusted total asset turnover ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020. |
Adjusted Financial Leverage
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
2020 Calculations
1 Financial leverage = Total assets ÷ Shareholders’ equity (deficit)
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity (deficit)
= ÷ =
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
2020 Calculations
1 ROE = 100 × Net earnings attributable to Starbucks ÷ Shareholders’ equity (deficit)
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net earnings attributable to Starbucks ÷ Adjusted shareholders’ equity (deficit)
= 100 × ÷ =
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2020-11-12), 10-K (filing date: 2019-11-15), 10-K (filing date: 2018-11-16), 10-K (filing date: 2017-11-17), 10-K (filing date: 2016-11-18), 10-K (filing date: 2015-11-12).
2020 Calculations
1 ROA = 100 × Net earnings attributable to Starbucks ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net earnings attributable to Starbucks ÷ Adjusted total assets
= 100 × ÷ =
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Starbucks Corp.’s adjusted ROA deteriorated from 2018 to 2019 and from 2019 to 2020. |