Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Starbucks Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Sep 29, 2024	Oct 1, 2023	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020	Sep 29, 2019
Accounts payable	1,595,500)	1,544,300)	1,441,400)	1,211,600)	997,900)	1,189,700)
Accrued occupancy costs	81,700)	86,700)	84,600)	107,100)	76,900)	176,900)
Accrued dividends payable	691,200)	651,200)	608,300)	578,100)	—)	485,700)
Accrued capital and other operating expenditures	842,800)	771,700)	878,100)	840,700)	677,200)	703,900)
Insurance reserves	244,300)	233,500)	232,300)	229,300)	243,900)	210,500)
Income taxes payable	123,500)	189,300)	139,200)	348,000)	98,200)	1,291,700)
Accrued business taxes	211,200)	212,700)	194,600)	218,000)	162,700)	176,700)
Accrued liabilities	2,194,700)	2,145,100)	2,137,100)	2,321,200)	1,258,900)	3,045,400)
Accrued payroll and benefits	786,600)	828,300)	761,700)	772,300)	696,000)	664,600)
Current portion of operating lease liability	1,463,100)	1,275,300)	1,245,700)	1,251,300)	1,248,800)	—)
Stored value card liability and current portion of deferred revenue	1,781,200)	1,700,200)	1,641,900)	1,596,100)	1,456,500)	1,269,000)
Short-term debt	—)	33,500)	175,000)	—)	438,800)	—)
Current portion of long-term debt	1,248,900)	1,818,600)	1,749,000)	998,900)	1,249,900)	—)
Current liabilities	9,070,000)	9,345,300)	9,151,800)	8,151,400)	7,346,800)	6,168,700)
Long-term debt, excluding current portion	14,319,500)	13,547,600)	13,119,900)	13,616,900)	14,659,600)	11,167,000)
Operating lease liability, excluding current portion	8,771,600)	7,924,800)	7,515,200)	7,738,000)	7,661,700)	—)
Deferred revenue	5,963,600)	6,101,800)	6,279,700)	6,463,000)	6,598,500)	6,744,400)
Other long-term liabilities	656,200)	513,800)	610,500)	737,800)	907,300)	1,370,500)
Long-term liabilities	29,710,900)	28,088,000)	27,525,300)	28,555,700)	29,827,100)	19,281,900)
Total liabilities	38,780,900)	37,433,300)	36,677,100)	36,707,100)	37,173,900)	25,450,600)
Common stock; $0.001 par value	1,100)	1,100)	1,100)	1,200)	1,200)	1,200)
Additional paid-in capital	322,600)	38,100)	205,300)	846,100)	373,900)	41,100)
Retained deficit	(7,343,800)	(7,255,800)	(8,449,800)	(6,315,700)	(7,815,600)	(5,771,200)
Accumulated other comprehensive income (loss)	(428,800)	(778,200)	(463,200)	147,200)	(364,600)	(503,300)
Shareholders’ deficit	(7,448,900)	(7,994,800)	(8,706,600)	(5,321,200)	(7,805,100)	(6,232,200)
Noncontrolling interests	7,300)	7,000)	7,900)	6,700)	5,700)	1,200)
Total deficit	(7,441,600)	(7,987,800)	(8,698,700)	(5,314,500)	(7,799,400)	(6,231,000)
Total liabilities and deficit	31,339,300)	29,445,500)	27,978,400)	31,392,600)	29,374,500)	19,219,600)

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).

Accounts Payable: The accounts payable balance showed some fluctuations with a decrease from 1,189,700 thousand USD in 2019 to 997,900 thousand USD in 2020, followed by a steady increase reaching 1,595,500 thousand USD in 2024. This steady rise in recent years indicates growing short-term obligations to suppliers.
Accrued Occupancy Costs: Accrued occupancy costs experienced a marked decline from 176,900 thousand USD in 2019 to a low of 76,900 thousand USD in 2020. Subsequently, the amount remained relatively stable but low, fluctuating slightly around 81,700 thousand USD by 2024.
Accrued Dividends Payable: Accrued dividends payable exhibited a general increasing trend from 485,700 thousand USD in 2019, with some data missing in 2020. The balance increased steadily thereafter, reaching 691,200 thousand USD in 2024, suggesting higher declared dividends awaiting payment.
Accrued Capital and Other Operating Expenditures: There was a decrease from 703,900 thousand USD in 2019 to 677,200 thousand USD in 2020, followed by increases peaking at 878,100 thousand USD in 2022. This was then followed by a dip in 2023 to 771,700 thousand USD and a recovery to 842,800 thousand USD in 2024, indicating variability in accrued operational costs.
Insurance Reserves: Insurance reserves gradually increased from 210,500 thousand USD in 2019 to 244,300 thousand USD in 2024, reflecting possibly increased risk provisions or premiums over time.
Income Taxes Payable: Income taxes payable sharply dropped from 1,291,700 thousand USD in 2019 to 98,200 thousand USD in 2020, followed by volatility with no sustained trend, ending at 123,500 thousand USD in 2024. This may reflect changes in taxable income or tax payment timing.
Accrued Business Taxes: Accrued business taxes remained relatively stable, fluctuating modestly between approximately 162,700 and 218,000 thousand USD over the period, ending near 211,200 thousand USD in 2024.
Accrued Liabilities: Accrued liabilities significantly declined from 3,045,400 thousand USD in 2019 to 1,258,900 thousand USD in 2020, then increased to over 2,190,000 thousand USD by 2024, showing a sizable rebound yet remaining below the 2019 peak.
Accrued Payroll and Benefits: Accrued payroll and benefits showed a steady upward trend from 664,600 thousand USD in 2019 to 828,300 thousand USD in 2023 before slightly decreasing to 786,600 thousand USD in 2024, indicating higher employee-related liabilities over time.
Current Portion of Operating Lease Liability: Starting with data in 2020, the current portion of operating lease liability remained relatively stable around 1,240,000 to 1,470,000 thousand USD, with a notable increase in 2024, suggesting growing short-term lease obligations.
Stored Value Card Liability and Deferred Revenue: Stored value card liability and deferred revenue experienced a consistent increase from 1,269,000 thousand USD in 2019 to 1,781,200 thousand USD in 2024, indicating increasing advance payments or customer liabilities.
Short-term Debt: Short-term debt data is sparse but shows a value of 438,800 thousand USD in 2020, 175,000 thousand USD in 2022, and 33,500 thousand USD in 2023, suggesting reductions in short-term borrowing during these periods.
Current Portion of Long-term Debt: This liability experienced volatility with 1,249,900 thousand USD in 2020, dipping to 998,900 thousand USD in 2021, then increasing sharply to 1,818,600 thousand USD in 2023 before dropping to 1,248,900 thousand USD in 2024, reflecting changes in debt maturities.
Current Liabilities: Current liabilities steadily increased from 6,168,700 thousand USD in 2019 to a peak of 9,345,300 thousand USD in 2023, with a slight decline to 9,070,000 thousand USD in 2024, indicating overall growth in short-term obligations.
Long-term Debt, Excluding Current Portion: Long-term debt, excluding current portion, rose sharply from 11,167,000 thousand USD in 2019 to 14,659,600 thousand USD in 2020, then fluctuated marginally to reach 14,319,500 thousand USD in 2024, signaling elevated leverage.
Operating Lease Liability, Excluding Current Portion: This liability began at 7,661,700 thousand USD in 2020, remained relatively steady with minor fluctuations, and increased to 8,771,600 thousand USD in 2024, suggesting growth in long-term lease commitments.
Deferred Revenue: Deferred revenue declined gradually from 6,744,400 thousand USD in 2019 to 5,963,600 thousand USD in 2024, indicating a decrease in advance payments recorded on the balance sheet.
Other Long-term Liabilities: Other long-term liabilities decreased substantially from 1,370,500 thousand USD in 2019 to 513,800 thousand USD in 2023, followed by an increase to 656,200 thousand USD in 2024, reflecting variability in other obligations.
Long-term Liabilities: Long-term liabilities peaked at 29,827,100 thousand USD in 2020, decreased gradually until 2022, then rose again to 29,710,900 thousand USD in 2024, indicating fluctuations but overall elevated long-term obligations.
Total Liabilities: Total liabilities increased significantly from 25,450,600 thousand USD in 2019 to 38,780,900 thousand USD in 2024, reflecting a substantial expansion in both current and long-term liabilities over the period.
Shareholders’ Equity: Shareholders’ deficit worsened from -6,232,200 thousand USD in 2019 to a low of -8,706,600 thousand USD in 2022, followed by some improvement to -7,448,900 thousand USD in 2024. This trend suggests cumulative losses or other negative comprehensive income impacting equity.
Retained Deficit: The retained deficit increased from -5,771,200 thousand USD in 2019 to a peak of -8,449,800 thousand USD in 2022, then decreased to -7,343,800 thousand USD in 2024. This pattern indicates significant net losses or substantial dividend payments affecting retained earnings.
Accumulated Other Comprehensive Income (Loss): Accumulated other comprehensive income (loss) fluctuated widely, starting at -503,300 thousand USD in 2019, improving to a positive 147,200 thousand USD in 2021, then deteriorating again to -428,800 thousand USD in 2024. This reflects volatility in unrealized gains or losses affecting equity.
Total Deficit: Total deficit mirrored shareholders’ equity trends, worsening through 2022 and showing partial recovery in 2023 and 2024, remaining considerably negative throughout the period.
Noncontrolling Interests: Noncontrolling interests increased modestly from 1,200 thousand USD in 2019 to 7,300 thousand USD in 2024, indicating a minor but stable external ownership interest.
Total Liabilities and Deficit: The total of liabilities and deficit rose from 19,219,600 thousand USD in 2019 to 31,339,300 thousand USD in 2024, signaling overall growth in claims against company resources, consistent with increased liabilities despite continuing equity deficits.

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Starbucks Corp. (NASDAQ:SBUX)

Balance Sheet: Liabilities and Stockholders’ Equity