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 28, 2025	Sep 29, 2024	Oct 1, 2023	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020
Accounts payable	1,852,800)	1,595,500)	1,544,300)	1,441,400)	1,211,600)	997,900)
Accrued occupancy costs	89,500)	81,700)	86,700)	84,600)	107,100)	76,900)
Accrued dividends payable	704,800)	691,200)	651,200)	608,300)	578,100)	—)
Accrued capital and other operating expenditures	897,000)	842,800)	771,700)	878,100)	840,700)	677,200)
Insurance reserves	282,300)	244,300)	233,500)	232,300)	229,300)	243,900)
Income taxes payable	150,300)	123,500)	189,300)	139,200)	348,000)	98,200)
Accrued business taxes	235,800)	211,200)	212,700)	194,600)	218,000)	162,700)
Accrued liabilities	2,359,700)	2,194,700)	2,145,100)	2,137,100)	2,321,200)	1,258,900)
Accrued payroll and benefits	1,093,900)	786,600)	828,300)	761,700)	772,300)	696,000)
Current portion of operating lease liability	1,564,500)	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	1,840,600)	1,781,200)	1,700,200)	1,641,900)	1,596,100)	1,456,500)
Short-term debt	—)	—)	33,500)	175,000)	—)	438,800)
Current portion of long-term debt	1,498,900)	1,248,900)	1,818,600)	1,749,000)	998,900)	1,249,900)
Current liabilities	10,210,400)	9,070,000)	9,345,300)	9,151,800)	8,151,400)	7,346,800)
Long-term debt, excluding current portion	14,575,900)	14,319,500)	13,547,600)	13,119,900)	13,616,900)	14,659,600)
Operating lease liability, excluding current portion	8,972,200)	8,771,600)	7,924,800)	7,515,200)	7,738,000)	7,661,700)
Deferred revenue	5,772,600)	5,963,600)	6,101,800)	6,279,700)	6,463,000)	6,598,500)
Other long-term liabilities	577,800)	656,200)	513,800)	610,500)	737,800)	907,300)
Long-term liabilities	29,898,500)	29,710,900)	28,088,000)	27,525,300)	28,555,700)	29,827,100)
Total liabilities	40,108,900)	38,780,900)	37,433,300)	36,677,100)	36,707,100)	37,173,900)
Common stock; $0.001 par value	1,100)	1,100)	1,100)	1,100)	1,200)	1,200)
Additional paid-in capital	634,100)	322,600)	38,100)	205,300)	846,100)	373,900)
Retained deficit	(8,272,500)	(7,343,800)	(7,255,800)	(8,449,800)	(6,315,700)	(7,815,600)
Accumulated other comprehensive income (loss)	(459,300)	(428,800)	(778,200)	(463,200)	147,200)	(364,600)
Shareholders’ deficit	(8,096,600)	(7,448,900)	(7,994,800)	(8,706,600)	(5,321,200)	(7,805,100)
Noncontrolling interests	7,400)	7,300)	7,000)	7,900)	6,700)	5,700)
Total deficit	(8,089,200)	(7,441,600)	(7,987,800)	(8,698,700)	(5,314,500)	(7,799,400)
Total liabilities and deficit	32,019,700)	31,339,300)	29,445,500)	27,978,400)	31,392,600)	29,374,500)

Based on: 10-K (reporting date: 2025-09-28), 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).

The financial data presents a comprehensive view of liabilities and shareholders’ deficit over multiple years. Several trends and patterns can be identified:

Accounts payable: There is a steady increase from 997,900 thousand in 2020 to 1,852,800 thousand in 2025, reflecting potentially growing procurement activities or extended payment terms.
Accrued occupancy costs: These costs fluctuate moderately, peaking in 2021 at 107,100 thousand and ending at 89,500 thousand in 2025, indicating some variability but no clear upward or downward trend.
Accrued dividends payable: Starting from a data gap in 2020, dividends payable show a consistent increase from 578,100 thousand in 2021 to 704,800 thousand in 2025, possibly reflecting increasing dividend commitments.
Accrued capital and other operating expenditures: There is an overall upward trend from 677,200 thousand in 2020 to 897,000 thousand in 2025, with a dip in 2023, suggesting fluctuating but generally increasing operational costs.
Insurance reserves: Relatively stable over the period, with slight growth from 243,900 thousand in 2020 to 282,300 thousand in 2025, indicating consistent risk management provisions.
Income taxes payable: Income taxes payable demonstrate volatility, peaking at 348,000 thousand in 2021, falling sharply in 2022, then rising again moderately by 2025, possibly reflecting changes in profitability or tax planning.
Accrued business taxes: These liabilities increased overall from 162,700 thousand in 2020 to 235,800 thousand in 2025, with minor fluctuations, indicating growing tax obligations.
Accrued liabilities: There is a significant increase from 1,258,900 thousand in 2020 to 2,359,700 thousand in 2025, showing nearly a doubling, which points to growing short-term obligations or perhaps increased accrual conservatism.
Accrued payroll and benefits: This category shows growth from 696,000 thousand in 2020 to 1,093,900 thousand in 2025, despite some fluctuations, indicating rising personnel-related expenses or liabilities.
Current portion of operating lease liability: The amounts remain relatively stable, starting at 1,248,800 thousand in 2020 and rising to 1,564,500 thousand in 2025, consistent with persistent lease commitments.
Stored value card liability and current portion of deferred revenue: There is a clear upward trend from 1,456,500 thousand in 2020 to 1,840,600 thousand in 2025, reflecting increased liability from customer prepayments or gift card sales.
Short-term debt and current portion of long-term debt: Short-term debt shows inconsistency with missing data and a decline, while current portion of long-term debt fluctuates, decreasing in 2021 but peaking in 2023, then settling around 1,500,000 thousand by 2025, indicating active debt restructuring and shifting maturity profiles.
Current liabilities: These grow overall from 7,346,800 thousand in 2020 to 10,210,400 thousand in 2025, with some variability, reflecting growing operating activities or rising short-term obligations.
Long-term debt, excluding current portion: Long-term debt shows a decline from 14,659,600 thousand in 2020 to 13,119,900 thousand in 2022, followed by an increase to 14,575,900 thousand in 2025, indicating shifts in long-term financing strategies.
Operating lease liability, excluding current portion: This liability remains fairly steady with a gradual upward trend from 7,661,700 thousand in 2020 to 8,972,200 thousand in 2025, suggesting sustained lease obligations.
Deferred revenue: There is a gradual decrease from 6,598,500 thousand in 2020 to 5,772,600 thousand in 2025, which may reflect changes in recognition policies or reduced upfront payments.
Other long-term liabilities: These fluctuate, decreasing from 907,300 thousand in 2020 to 513,800 thousand in 2023, then rising again to 577,800 thousand in 2025, indicating some variability in less-defined long-term commitments.
Long-term liabilities: Overall, long-term liabilities slightly decrease from 29,827,100 thousand in 2020 to 27,525,300 thousand in 2022, then increase back to 29,898,500 thousand in 2025, showing a cyclical pattern in long-term financing and obligations.
Total liabilities: Total liabilities remain relatively stable around the 36-40 billion range, with a modest increase from 37,173,900 thousand in 2020 to 40,108,900 thousand in 2025, indicating consistent leverage.
Shareholders’ equity components: Common stock remains unchanged at approximately 1,100 thousand. Additional paid-in capital fluctuates widely, with a notable trough in 2023, potentially due to buybacks or reclassifications, but recovers by 2025.
Retained deficit: A persistent retained deficit is reported, starting at -7,815,600 thousand in 2020 and increasing overall in magnitude to -8,272,500 thousand in 2025, despite some interim improvement, indicating ongoing cumulative losses or dividend payments exceeding earnings.
Accumulated other comprehensive income (loss): This fluctuates significantly, from a negative 364,600 thousand in 2020 to a positive figure in 2021, then back into negative territory up to -459,300 thousand in 2025, reflecting volatile unrealized gains or losses on foreign currency translation or securities.
Shareholders’ deficit and total deficit: The shareholders’ deficit closely mirrors retained deficit trends, remaining negative throughout, with values decreasing from -7,805,100 thousand in 2020 to -8,096,600 thousand in 2025. Total deficit follows a similar pattern, confirming that liabilities exceed equity significantly across all years presented.
Total liabilities and deficit: There is some fluctuation, with an initial increase from 29,374,500 thousand in 2020 to 31,392,600 thousand in 2021, a decline to 27,978,400 thousand in 2022, before rising again to 32,019,700 thousand in 2025, reflecting the combined impacts of liability and equity movements.

In summary, the company exhibits increasing current liabilities and operating lease commitments, along with fluctuating but sizable long-term debts. Shareholders’ deficit remains substantial and persistent, indicating a continued negative net equity position. The overall liability structure points to significant leverage and financial obligations, balanced by changes in capital components and deferred revenue. The observed financial pattern suggests an ongoing focus on managing liabilities while navigating impacts on equity and cumulative losses.

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Starbucks Corp. (NASDAQ:SBUX)

Balance Sheet: Liabilities and Stockholders’ Equity