Equity

12 Months Ended

Sep. 29, 2024

Equity [Abstract]

Equity

Equity

In addition to 2.4 billion shares of authorized common stock with $0.001 par value per share, we have authorized 7.5 million shares of preferred stock, none of which was outstanding at September 29, 2024.

During the fiscal year ended October 2, 2022, we repurchased 36.3 million shares of common stock for $4.0 billion on the open market. On March 15, 2022, we announced that our Board authorized the repurchase of up to an additional 40 million shares under our ongoing share repurchase program. On April 4, 2022, we announced a temporary suspension of our share repurchase program to allow us to augment investments in our stores and partners.

During the first quarter of fiscal 2023, we resumed our share repurchase program. During the fiscal year ended October 1, 2023, we repurchased 10.0 million shares of common stock for $1.0 billion on the open market.

During the fiscal year ended September 29, 2024, we repurchased 12.8 million shares of common stock for $1.3 billion on the open market.

As of September 29, 2024, 29.8 million shares remained available for repurchase under current authorizations.

During the fourth quarter of fiscal 2024, our Board declared a quarterly cash dividend to shareholders of $0.61 per share to be paid on November 29, 2024, to shareholders of record as of the close of business on November 15, 2024.

Comprehensive Income

Comprehensive income includes all changes in equity during the period, except those resulting from transactions with our shareholders. Comprehensive income is comprised of net earnings and other comprehensive income. Accumulated other comprehensive income reported on our consolidated balance sheets consists of foreign currency translation adjustments and

other items and the unrealized gains and losses, net of applicable taxes, on available-for-sale debt securities and on derivative instruments designated and qualifying as cash flow and net investment hedges.

Changes in AOCI by component for the fiscal years ended September 29, 2024, October 1, 2023, and October 2, 2022, net of tax, are as follows:

(in millions)	Available-for-Sale Securities		Cash Flow Hedges		Net Investment Hedges		Translation Adjustment and Other		Total
September 29, 2024
Net gains/(losses) in AOCI, beginning of period	$	(12.3)	$	(47.5)	$	243.3	$	(961.7)	$	(778.2)
Net gains/(losses) recognized in OCI before reclassifications	9.1		89.8		41.6		216.7		357.2
Net (gains)/losses reclassified from AOCI to earnings	0.9		28.2		(37.2)		(0.1)		(8.2)
Other comprehensive income/(loss) attributable to Starbucks	10.0		118.0		4.4		216.6		349.0
Other comprehensive income/(loss) attributable to NCI	—		—		—		0.4		0.4
Net gains/(losses) in AOCI, end of period	$	(2.3)	$	70.5	$	247.7	$	(744.7)	$	(428.8)

(in millions)	Available-for-Sale Securities		Cash Flow Hedges		Net Investment Hedges		Translation Adjustment and Other		Total
October 1, 2023
Net gains/(losses) in AOCI, beginning of period	$	(15.5)	$	199.0	$	209.1	$	(855.8)	$	(463.2)
Net gains/(losses) recognized in OCI before reclassifications	2.5		(132.2)		54.7		(106.5)		(181.5)
Net (gains)/losses reclassified from AOCI to earnings	0.7		(114.3)		(20.5)		1.3		(132.8)
Other comprehensive income/(loss) attributable to Starbucks	3.2		(246.5)		34.2		(105.2)		(314.3)
Other comprehensive income/(loss) attributable to NCI	—		—		—		(0.7)		(0.7)
Net gains/(losses) in AOCI, end of period	$	(12.3)	$	(47.5)	$	243.3	$	(961.7)	$	(778.2)

(in millions)	Available-for-Sale Securities		Cash Flow Hedges		Net Investment Hedges		Translation Adjustment and Other		Total
October 2, 2022
Net gains/(losses) in AOCI, beginning of period	$	1.5	$	158.3	$	48.6	$	(61.2)	$	147.2
Net gains/(losses) recognized in OCI before reclassifications	(17.2)		206.7		171.1		(794.7)		(434.1)
Net (gains)/losses reclassified from AOCI to earnings	0.2		(166.0)		(10.6)		0.1		(176.3)
Other comprehensive income/(loss) attributable to Starbucks	(17.0)		40.7		160.5		(794.6)		(610.4)
Net gains/(losses) in AOCI, end of period	$	(15.5)	$	199.0	$	209.1	$	(855.8)	$	(463.2)

Impact of reclassifications from AOCI on the consolidated statements of earnings (in millions):

AOCI Components	Amounts Reclassified from AOCI						Affected Line Item in the Statements of Earnings
	Year Ended
	Sep 29, 2024		Oct 1, 2023		Oct 2, 2022
Gains/(losses) on available-for-sale securities	$	(1.2)	$	(0.7)	$	(0.4)	Interest income and other, net
Gains/(losses) on cash flow hedges	(29.3)		133.5		196.6		Please refer to Note 3, Derivative Financial Instruments, for additional information.
Gains/(losses) on net investment hedges	49.6		27.4		14.3		Interest expense
Other (1)	0.1		(1.3)		—		Interest income and other, net
	19.2		158.9		210.5		Total before tax
	(11.0)		(26.1)		(34.2)		Tax (expense)/benefit
	$	8.2	$	132.8	$	176.3	Net of tax

(1)     Release of cumulative translation adjustments and other activities to earnings upon sale, liquidation, or dissolution of foreign businesses.