Starbucks 2010 Annual Report Download - page 47

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STARBUCKS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Fiscal Year Ended
Oct 3,
2010
Sep 27,
2009
Sep 28,
2008
OPERATING ACTIVITIES:
Netearningsincludingnoncontrollinginterests........................................... $ 948.3 $ 391.5 $ 311.7
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciationandamortization...................................................... 540.8 563.3 604.5
Provisionforimpairmentsandassetdisposals.......................................... 67.7 224.4 325.0
Deferredincometaxes,net ........................................................ (42.0) (69.6) (117.1)
Equityinincomeofinvestees ...................................................... (108.6) (78.4) (61.3)
Distributionsofincomefromequityinvestees ......................................... 91.4 53.0 52.6
Stock-basedcompensation ........................................................ 113.6 83.2 75.0
Taxbenefitfromexerciseofstockoptions ............................................ 13.5 2.0 3.8
Excesstaxbenefitfromexerciseofstockoptions ....................................... (36.9) (15.9) (14.7)
Other ......................................................................... (15.3) 5.4 (0.1)
Cash provided/(used) by changes in operating assets and liabilities:
Inventories................................................................... 123.2 28.5 (0.6)
Accounts payable ............................................................. (3.6) (53.0) (63.9)
Accruedtaxes ................................................................ (12.9) 57.2 7.3
Deferredrevenue.............................................................. 24.2 16.3 72.4
Otheroperatingassets .......................................................... (16.1) 120.5 (11.2)
Otheroperatingliabilities ....................................................... 17.6 60.6 75.3
Net cash provided by operating activities ............................................... 1,704.9 1,389.0 1,258.7
INVESTING ACTIVITIES:
Purchaseofavailable-for-salesecurities .............................................. (549.0) (129.2) (71.8)
Maturitiesandcallsofavailable-for-salesecurities ...................................... 209.9 111.0 20.0
Salesofavailable-for-salesecurities ................................................. 1.1 5.0 75.9
Acquisitions,netofcashacquired ................................................... (12.0) 0.0 (74.2)
Netpurchasesofequity,otherinvestmentsandotherassets ............................... 1.2 (4.8) (52.0)
Additionstoproperty,plantandequipment............................................ (440.7) (445.6) (984.5)
Proceeds from sale of property, plant and equipment .................................... 0.0 42.5 0.0
Netcashusedbyinvestingactivities ................................................... (789.5) (421.1) (1,086.6)
FINANCING ACTIVITIES:
Proceeds from issuance of commercial paper .......................................... 0.0 20,965.4 65,770.8
Repaymentsofcommercialpaper ................................................... 0.0 (21,378.5) (66,068.0)
Proceeds from short-term borrowings ................................................ 0.0 1,338.0 528.2
Repaymentsofshort-termborrowings ............................................... 0.0 (1,638.0) (228.8)
Purchaseofnoncontrollinginterest .................................................. (45.8) 0.0 0.0
Proceeds from issuance of common stock ............................................. 127.9 57.3 112.3
Excesstaxbenefitfromexerciseofstockoptions ....................................... 36.9 15.9 14.7
Principalpaymentsonlong-termdebt ................................................ (6.6) (0.7) (0.6)
Cashdividendspaid.............................................................. (171.0) 0.0 0.0
Repurchaseofcommonstock ...................................................... (285.6) 0.0 (311.4)
Other ......................................................................... (1.8) (1.6) (1.7)
Netcashusedbyfinancingactivities................................................... (346.0) (642.2) (184.5)
Effectofexchangeratechangesoncashandcashequivalents ............................... (5.2) 4.3 0.9
Netincrease/(decrease)incashandcashequivalents ...................................... 564.2 330.0 (11.5)
CASH AND CASH EQUIVALENTS:
Beginningofperiod................................................................ 599.8 269.8 281.3
Endofperiod..................................................................... $1,164.0 $ 599.8 $ 269.8
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest,netofcapitalizedinterest ................................................... $ 32.0 $ 39.8 $ 52.7
Incometaxes ................................................................... $ 527.0 $ 162.0 $ 259.5
See Notes to Consolidated Financial Statements.
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