Segment Reporting

9 Months Ended

Jun. 29, 2025

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

Segment information is prepared on the same basis that our chief executive officer, who is our Chief Operating Decision Maker, manages the segments, evaluates financial results, and makes key operating decisions.

Consolidated revenue mix by product type (in millions):

	Quarter Ended								Three Quarters Ended
	Jun 29, 2025				Jun 30, 2024				Jun 29, 2025				Jun 30, 2024
Beverage(1)	$	5,752.0	61	%	$	5,528.0	61	%	$	16,723.8	61	%	$	16,384.4	60	%
Food(2)	1,787.5		19	%	1,744.5		19	%	5,269.9		19	%	5,084.4		19	%
Other(3)	1,916.5		20	%	1,841.4		20	%	5,621.7		20	%	5,633.5		21	%
Total	$	9,456.0	100	%	$	9,113.9	100	%	$	27,615.4	100	%	$	27,102.3	100	%

(1)“Beverage” represents sales within our company-operated stores.

(2)“Food” represents sales within our company-operated stores.

(3)“Other” primarily consists of packaged and single-serve coffees and teas, royalty and licensing revenues, beverage-related ingredients, and serveware, among other items.

The tables below present financial information for our reportable operating segments and Corporate and Other (in millions):

Quarter Ended

	North America		International		Channel Development		Corporate and Other		Total
June 29, 2025
Total net revenues	$	6,927.0	$	2,010.7	$	483.8	$	34.5	$	9,456.0
Depreciation and amortization expenses	303.5		91.4		—		32.7		427.6
Income/(loss) from equity investees	—		(1.3)		58.4		—		57.1
Operating income/(loss)	$	918.7	$	272.7	$	218.4	$	(474.2)	$	935.6
June 30, 2024
Total net revenues	$	6,816.7	$	1,842.1	$	438.3	$	16.8	$	9,113.9
Depreciation and amortization expenses	266.6		82.7		—		31.1		380.4
Income/(loss) from equity investees	—		2.5		71.4		—		73.9
Operating income/(loss)	$	1,432.7	$	287.5	$	235.2	$	(437.9)	$	1,517.5
Three Quarters Ended
	North America		International		Channel Development		Corporate and Other		Total
June 29, 2025
Total net revenues	$	20,471.7	$	5,749.1	$	1,329.0	$	65.6	$	27,615.4
Depreciation and amortization expenses	891.6		269.5		—		92.9		1,254.0
Income from equity investees	—		(2.1)		164.8		—		162.7
Operating income/(loss)	$	2,848.3	$	726.9	$	619.8	$	(1,536.6)	$	2,658.4
June 30, 2024
Total net revenues	$	20,317.6	$	5,445.6	$	1,304.5	$	34.6	$	27,102.3
Depreciation and amortization expenses	774.2		251.0		—		92.4		1,117.6
Income from equity investees	—		2.9		194.9		—		197.8
Operating income/(loss)	$	4,101.8	$	762.8	$	661.2	$	(1,423.9)	$	4,101.9