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Financial Reporting, Financial Statement Analysis And Valuation 7th ed

LEN-09-1211-001.qxd:.

LEN-09-1211-001.qxd:. 6/30/10 2:58 PM Page 82 82 Chapter 1 Overview of Financial Reporting, Financial Statement Analysis, and Valuation EXHIBIT 1.29 Starbucks Corporation Common-Size and Percentage Change Balance Sheets (allow for rounding) (Integrative Case 1.1) Common-Size Balance Sheets Percentage Change Balance Sheets Compound As of Fiscal Year-End September: 2005 2006 2007 2008 2006 2007 2008 Growth ASSETS Current Assets Cash and equivalents 4.9% 7.1% 5.3% 4.8% 79.9% (10.0%) (4.1%) 15.8% Short-term investments 3.8% 3.2% 2.9% 0.9% 5.9% 11.6% (66.7%) (26.7%) Receivables 5.4% 5.0% 5.4% 5.8% 17.6% 28.4% 14.4% 20.0% Inventories 15.6% 14.4% 12.9% 12.2% 16.5% 8.7% 0.2% 8.2% Prepaid expenses and other assets 2.7% 2.8% 2.8% 3.0% 34.4% 17.2% 13.7% 21.5% Deferred income taxes, net 2.0% 2.0% 2.4% 4.1% 25.4% 45.8% 80.9% 49.0% Total Current Assets 34.4% 34.5% 31.7% 30.8% 26.5% 10.9% 3.0% 13.1% Long-term investments 1.7% 0.1% 0.4% 1.3% (90.4%) 261.8% 239.6% 5.7% Equity and other investments 5.7% 4.9% 4.9% 5.3% 9.0% 18.1% 16.9% 14.6% Property and equipment, gross 98.7% 96.1% 99.3% 100.8% 22.8% 24.6% 7.7% 18.1% Accumulated depreciation (46.3%) (44.5%) (45.2%) (48.7%) 21.2% 22.7% 14.3% 19.3% Property and equipment, net 52.4% 51.7% 54.1% 52.1% 24.2% 26.3% 2.3% 17.1% Other assets 2.1% 4.2% 4.1% 4.6% 156.4% 17.4% 19.0% 53.0% Other intangible assets 1.0% 0.9% 0.8% 1.2% 7.2% 10.8% 58.4% 23.4% Goodwill 2.7% 3.7% 4.0% 4.7% 74.6% 33.5% 23.6% 42.3% Total Assets 100.0% 100.0% 100.0% 100.0% 26.0% 20.7% 6.2% 17.3%

LEN-09-1211-001.qxd:. 6/30/10 2:58 PM Page 83 Starbucks 83 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Accounts payable 6.3% 7.7% 7.3% 5.7% 54.3% 14.6% (16.9%) 13.7% Short-term borrowings 7.9% 15.8% 13.3% 12.6% 152.7% 1.5% 0.4% 37.0% Accrued compensation and related costs 6.6% 6.5% 5.5% 4.5% 24.4% 1.2% (13.3%) 3.0% Accrued occupancy costs 1.3% 1.3% 1.4% 2.4% 23.3% 35.9% 82.5% 45.2% Accrued taxes 2.2% 2.1% 1.7% 1.3% 20.1% (1.6%) (17.7%) (0.9%) Insurance reserves 0.0% 0.0% 2.6% 2.7% n.m. n.m. 11.3% n.m. Other accrued expenses 5.6% 5.1% 3.0% 2.9% 13.2% (28.5%) 2.6% (6.0%) Deferred revenue 5.0% 5.2% 5.6% 6.5% 32.5% 28.0% 24.1% 28.2% Current portion of long-term debt 0.0% 0.0% 0.0% 0.0% 1.9% 1.7% (9.7%) (2.2%) Total Current Liabilities 34.9% 43.7% 40.4% 38.6% 57.8% 11.4% 1.6% 21.3% Long-term debt 0.1% 0.1% 10.3% 9.7% (31.8%) 27,996.1% (0.1%) 476.4% Other long-term liabilities 5.5% 5.9% 6.6% 7.8% 35.8% 34.7% 24.9% 31.7% Total Liabilities 40.5% 49.7% 57.3% 56.1% 54.6% 39.1% 4.0% 30.7% Shareholders’ Equity Common stock 2.6% 0.0% 0.0% 0.0% (99.2%) (2.4%) 0.0% (79.9%) Paid-in capital 1.1% 0.9% 0.7% 0.7% 0.0% 0.0% 0.0% 0.0% Retained earnings 55.2% 48.6% 41.0% 42.4% 10.9% 1.8% 9.7% 7.4% Accumulated other comprehensive income 0.6% 0.8% 1.0% 0.9% 78.2% 46.5% (11.4%) 32.3% Total Shareholders’ Equity 59.5% 50.3% 42.7% 43.9% 6.6% 2.5% 9.1% 6.0% Total Liabilities and Shareholders’ Equity 100.0% 100.0% 100.0% 100.0% 26.0% 20.7% 6.2% 17.3%

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