Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Starbucks Corp., consolidated income statement

US$ in thousands

12 months ended:	Oct 1, 2023	Oct 2, 2022	Oct 3, 2021	Sep 27, 2020	Sep 29, 2019	Sep 30, 2018
Company-operated stores	29,462,300)	26,576,100)	24,607,000)	19,164,600)	21,544,400)	19,690,300)
Licensed stores	4,512,700)	3,655,500)	2,683,600)	2,327,100)	2,875,000)	2,652,200)
Other	2,000,600)	2,018,700)	1,770,000)	2,026,300)	2,089,200)	2,377,000)
Net revenues	35,975,600)	32,250,300)	29,060,600)	23,518,000)	26,508,600)	24,719,500)
Product and distribution costs	(11,409,100)	(10,317,400)	(8,738,700)	(7,694,900)	(8,526,900)	(10,174,500)
Wages and benefits	(8,733,400)	(8,157,700)	(6,989,300)	(6,131,900)	(5,941,700)	—)
Occupancy costs	(2,871,000)	(2,674,100)	(2,561,500)	(2,388,000)	(2,411,200)	—)
Other expenses	(3,115,900)	(2,730,000)	(2,380,100)	(2,244,100)	(2,140,700)	—)
Store operating expenses (legacy)	—)	—)	—)	—)	—)	(7,193,200)
Store operating expenses	(14,720,300)	(13,561,800)	(11,930,900)	(10,764,000)	(10,493,600)	(7,193,200)
Cost of revenues	(26,129,400)	(23,879,200)	(20,669,600)	(18,458,900)	(19,020,500)	(17,367,700)
Gross profit	9,846,200)	8,371,100)	8,391,000)	5,059,100)	7,488,100)	7,351,800)
Other operating expenses	(539,400)	(461,500)	(359,500)	(430,300)	(371,000)	(539,300)
Depreciation and amortization expenses	(1,362,600)	(1,447,900)	(1,441,700)	(1,431,300)	(1,377,300)	(1,247,000)
General and administrative expenses	(2,441,300)	(2,032,000)	(1,932,600)	(1,679,600)	(1,824,100)	(1,759,000)
Restructuring and impairments	(21,800)	(46,000)	(170,400)	(278,700)	(135,800)	(224,400)
Income from equity investees	298,400)	234,100)	385,300)	322,500)	298,000)	301,200)
Gain from sale of assets	91,300)	—)	—)	—)	—)	—)
Operating income	5,870,800)	4,617,800)	4,872,100)	1,561,700)	4,077,900)	3,883,300)
Gain resulting from acquisition of joint venture	—)	—)	—)	—)	—)	1,376,400)
Net gain resulting from divestiture of certain operations	—)	—)	864,500)	—)	622,800)	499,200)
Interest income and other, net	81,200)	97,000)	90,100)	39,700)	96,500)	191,400)
Interest expense	(550,100)	(482,900)	(469,800)	(437,000)	(331,000)	(170,300)
Earnings before income taxes	5,401,900)	4,231,900)	5,356,900)	1,164,400)	4,466,200)	5,780,000)
Income tax expense	(1,277,200)	(948,500)	(1,156,600)	(239,700)	(871,600)	(1,262,000)
Net earnings including noncontrolling interests	4,124,700)	3,283,400)	4,200,300)	924,700)	3,594,600)	4,518,000)
Net (earnings) loss attributable to noncontrolling interests	(200)	(1,800)	(1,000)	3,600)	4,600)	300)
Net earnings attributable to Starbucks	4,124,500)	3,281,600)	4,199,300)	928,300)	3,599,200)	4,518,300)

Based on: 10-K (reporting date: 2023-10-01), 10-K (reporting date: 2022-10-02), 10-K (reporting date: 2021-10-03), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29), 10-K (reporting date: 2018-09-30).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Starbucks Corp. net revenues increased from 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Starbucks Corp. operating income decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Earnings before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Starbucks Corp. earnings before income taxes decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net earnings attributable to Starbucks	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Starbucks Corp. net earnings attributable to Starbucks decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Starbucks Corp. (NASDAQ:SBUX)

Income Statement