strategic-management

EXHIBIT 3 Starbucks’ Balance Sheet (values in 000’s)
PERIOD ENDING 28-Sep-08 30-Sep-07 1-Oct-06
Current Assets
Cash and Cash Equivalents $269,800 $281,261 $312,606
Short Term Investments $52,500 $157,433 $141,038
Net Receivables $563,700 $417,378 $313,048
Inventory $692,800 $691,658 $636,222
Other Current Assets $169,200 $148,757 $126,874
Total Current Assets
Long Term Assets
$1,748,000 $1,696,487 $1,529,788
Long Term Investments $374,000 $279,868 $224,904
Fixed Assets $2,956,400 $2,890,433 $2,287,899
Goodwill $266,500 $215,625 $161,478
Intangible Assets $66,600 $42,043 $37,955
Other Assets $261,100 $219,422 $186,917
Total Assets
Current Liabilities
$5,672,600 $5,343,878 $4,428,941
Accounts Payable
Short Term Debt/Current Portion
$955,100 $1,147,643 $1,002,932
of Long Term Debt $713,700 $711,023 $700,762
Other Current Liabilities $520,900 $296,900 $231,926
Total Current Liabilities $2,189,700 $2,155,566 $1,935,620
Long Term Debt $549,600 $550,121 $1,958
Other Liabilities $120,200 $65,086 $48,215
Deferred Liability Charges $303,900 $271,736 $203,903
Minority Interest $18,300 $17,252 $10,739
Total Liabilities
Stockholders’ Equity
$3,181,700 $3,059,761 $2,200,435
Common Stocks $700 $738 $756
Capital Surplus $39,400 $39,393 $39,393
Retained Earnings $2,402,400 $2,189,366 $2,151,084
Other Equity $48,400 $54,620 $37,273
Total Equity $2,490,900 $2,284,117 $2,228,506
Total Liabilities & Equity $5,672,600 $5,343,878 $4,428,941
Source: www.starbucks.com.
for fiscal year 2008. U.S. operations sell coffee and other beverages, complementary
food, whole bean coffees, and coffee brewing equipment and merchandise primarily
through company-operated retail stores. Specialty operations within the United States
include licensed retail stores and foodservice accounts. At the end of the fiscal 2008, the
U.S. segment reported total revenues of $7,877 million with an operating income of
$528.1 million. Company-operated retail revenues increased primarily due to the opening
of 445 new company-operated retail stores in the 2008 fiscal year but was partially offset
by a 5 percent decrease in comparable store sales for the same period. The U.S. companyoperated
retail business continued deteriorating trends. Licensing revenues increased
primarily due to higher product sales and royalty revenues as a result of opening 438 new
licensed retail stores in the last 12 months.
CASE 13 • STARBUCKS CORPORATION — 2009 133