Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Starbucks Corp. (NASDAQ:SBUX)

Adjustments to Financial Statements

Advanced level

Adjustments to Current Assets

Starbucks Corp., adjusted current assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Current assets 7,806,400  5,653,900  12,494,200  5,283,400  4,760,500  4,352,700 
Adjustments
Add: Allowance for doubtful accounts 27,100  6,700  8,000  9,800  9,400  10,800 
Less: Current deferred income tax assets1 —  —  —  —  —  381,700 
After Adjustment
Adjusted current assets 7,833,500  5,660,600  12,502,200  5,293,200  4,769,900  3,981,800 

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).

1 Current deferred income tax assets. See details »


Adjustments to Total Assets

Starbucks Corp., adjusted total assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Total assets 29,374,500  19,219,600  24,156,400  14,365,600  14,329,500  12,446,100 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  8,799,637  8,183,340  7,778,382  6,526,864  5,102,191 
Add: Allowance for doubtful accounts 27,100  6,700  8,000  9,800  9,400  10,800 
Less: Current deferred income tax assets2 —  —  —  —  —  381,700 
Less: Long-term deferred income tax assets3 1,789,900  1,765,800  134,700  795,400  885,400  828,900 
After Adjustment
Adjusted total assets 27,611,700  26,260,137  32,213,040  21,358,382  19,980,364  16,348,491 

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).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Current deferred income tax assets. See details »

3 Long-term deferred income tax assets. See details »


Adjustments to Current Liabilities

Starbucks Corp., adjusted current liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Current liabilities 7,346,800  6,168,700  5,684,200  4,220,700  4,546,900  3,653,500 
Adjustments
Less: Current deferred income tax liabilities (included in Accrued liabilities)1 —  —  —  —  —  5,400 
Less: Current stored value card liability and current portion of deferred revenue 1,456,500  1,269,000  1,642,900  1,288,500  1,171,200  983,800 
After Adjustment
Adjusted current liabilities 5,890,300  4,899,700  4,041,300  2,932,200  3,375,700  2,664,300 

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).

1 Current deferred income tax liabilities (included in Accrued liabilities). See details »


Adjustments to Total Liabilities

Starbucks Corp., adjusted total liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Total liabilities 37,173,900  25,450,600  22,980,600  8,908,600  8,438,800  6,626,300 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  8,799,637  8,183,340  7,778,382  6,526,864  5,102,191 
Less: Current deferred income tax liabilities (included in Accrued liabilities)2 —  —  —  —  —  5,400 
Less: Long-term deferred income tax liabilities (included in Other long-term liabilities)3 158,100  186,400  270,200  6,300  14,700  67,800 
Less: Stored value card liability and deferred revenue 8,055,000  8,013,400  8,418,600  1,292,900  1,171,200  983,800 
After Adjustment
Adjusted total liabilities 28,960,800  26,050,437  22,475,140  15,387,782  13,779,764  10,671,491 

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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current deferred income tax liabilities (included in Accrued liabilities). See details »

3 Long-term deferred income tax liabilities (included in Other long-term liabilities). See details »


Adjustments to Stockholders’ Equity

Starbucks Corp., adjusted shareholders’ equity (deficit)

US$ in thousands

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Shareholders’ equity (deficit) (7,805,100) (6,232,200) 1,169,500  5,450,100  5,884,000  5,818,000 
Adjustments
Less: Net deferred tax asset (liability)1 1,631,800  1,579,400  (135,500) 789,100  870,700  1,137,400 
Add: Allowance for doubtful accounts 27,100  6,700  8,000  9,800  9,400  10,800 
Add: Stored value card liability and deferred revenue 8,055,000  8,013,400  8,418,600  1,292,900  1,171,200  983,800 
Add: Noncontrolling interests 5,700  1,200  6,300  6,900  6,700  1,800 
After Adjustment
Adjusted total equity (deficit) (1,349,100) 209,700  9,737,900  5,970,600  6,200,600  5,677,000 

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).

1 Net deferred tax asset (liability). See details »


Adjustments to Capitalization Table

Starbucks Corp., adjusted capitalization table

US$ in thousands

Microsoft Excel LibreOffice Calc
Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Current portion of long-term debt 1,249,900  —  349,900  —  400,000  — 
Long-term debt, excluding current portion 14,659,600  11,167,000  9,090,200  3,932,600  3,202,200  2,347,500 
Total reported debt 15,909,500  11,167,000  9,440,100  3,932,600  3,602,200  2,347,500 
Shareholders’ equity (deficit) (7,805,100) (6,232,200) 1,169,500  5,450,100  5,884,000  5,818,000 
Total reported capital 8,104,400  4,934,800  10,609,600  9,382,700  9,486,200  8,165,500 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  8,799,637  8,183,340  7,778,382  6,526,864  5,102,191 
Add: Current portion of operating lease liability2 1,248,800  —  —  —  —  — 
Add: Operating lease liability, excluding current portion3 7,661,700  —  —  —  —  — 
Adjusted total debt 24,820,000  19,966,637  17,623,440  11,710,982  10,129,064  7,449,691 
Adjustments to Equity
Less: Net deferred tax asset (liability)4 1,631,800  1,579,400  (135,500) 789,100  870,700  1,137,400 
Add: Allowance for doubtful accounts 27,100  6,700  8,000  9,800  9,400  10,800 
Add: Stored value card liability and deferred revenue 8,055,000  8,013,400  8,418,600  1,292,900  1,171,200  983,800 
Add: Noncontrolling interests 5,700  1,200  6,300  6,900  6,700  1,800 
Adjusted total equity (deficit) (1,349,100) 209,700  9,737,900  5,970,600  6,200,600  5,677,000 
After Adjustment
Adjusted total capital 23,470,900  20,176,337  27,361,340  17,681,582  16,329,664  13,126,691 

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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current portion of operating lease liability. See details »

3 Operating lease liability, excluding current portion. See details »

4 Net deferred tax asset (liability). See details »


Adjustments to Revenues

Starbucks Corp., adjusted net revenues

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Net revenues 23,518,000  26,508,600  24,719,500  22,386,800  21,315,900  19,162,700 
Adjustment
Add: Increase (decrease) in stored value card liability and deferred revenue 41,600  (405,200) 7,125,700  121,700  187,400  189,300 
After Adjustment
Adjusted net revenues 23,559,600  26,103,400  31,845,200  22,508,500  21,503,300  19,352,000 

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).


Adjustments to Reported Income

Starbucks Corp., adjusted net earnings attributable to Starbucks

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Sep 27, 2020 Sep 29, 2019 Sep 30, 2018 Oct 1, 2017 Oct 2, 2016 Sep 27, 2015
As Reported
Net earnings attributable to Starbucks 928,300  3,599,200  4,518,300  2,884,700  2,817,700  2,757,400 
Adjustments
Add: Deferred income tax expense (benefit)1 (28,500) (1,448,800) 726,800  114,200  290,600  20,400 
Add: Increase (decrease) in allowance for doubtful accounts 20,400  (1,300) (1,800) 400  (1,400) 4,100 
Add: Increase (decrease) in stored value card liability and deferred revenue 41,600  (405,200) 7,125,700  121,700  187,400  189,300 
Add: Other comprehensive income (loss), net of tax 133,900  (173,000) (174,700) (47,200) 91,000  (224,700)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest (3,600) (4,600) (300) 200  1,200  (29,200)
After Adjustment
Adjusted net earnings including noncontrolling interests 1,092,100  1,566,300  12,194,000  3,074,000  3,386,500  2,717,300 

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).

1 Deferred income tax expense (benefit). See details »