Stock Analysis on Net

Starbucks Corp. (NASDAQ:SBUX)

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

Microsoft Excel
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.