EX-12 2 v53316exv12.htm EX-12 exv12
EXHIBIT 12
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
                                         
    Sep 27,     Sep 28,     Sep 30,     Oct 1,     Oct 2,  
Fiscal year ended   2009     2008     2007     2006     2005  
Earnings (1)
  $ 559.2     $ 459.5     $ 1,056.3     $ 906.3     $ 796.3  
 
                                       
Income from equity investees
    (121.9 )     (113.6 )     (108.0 )     (94.0 )     (76.6 )
Distributed income from equity investees
    53.0       52.6       65.9       49.2       30.9  
Minority interest in subsidiaries
    0.7       (3.9 )     1.1       1.0       0.5  
Amortization of capitalized interest
    1.0       0.8       0.4       0.1        
Fixed charges, excluding capitalized interest
    284.4       300.4       254.5       181.8       149.1  
 
                             
 
                                       
Total earnings available for fixed charges
  $ 776.4     $ 695.8     $ 1,270.2     $ 1,044.4     $ 900.2  
 
                             
 
                                       
Fixed charges:
                                       
Interest and debt expense (2)
  $ 42.2     $ 61.4     $ 42.3     $ 11.1     $ 1.3  
Interest portion of rental expense
    245.1       246.2       216.1       173.4       147.8  
 
                             
 
                                       
Total fixed charges
  $ 287.3     $ 307.6     $ 258.4     $ 184.5     $ 149.1  
 
                             
 
                                       
Ratio of earnings to fixed charges
    2.7       2.3       4.9       5.7       6.0  
 
                             
 
(1)   Earnings represent income from continuing operations before provision for income taxes and cumulative effect of accounting change.
 
(2)   Includes amortization of debt-related expenses and interest capitalized during the period.