EXHIBIT 12
Starbucks Corporation
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
Sep 30, 2012 | Oct 2, 2011 | Oct 3, 2010 | Sep 27, 2009 | Sep 28, 2008 | ||||||||||||||||
Fiscal year ended | ||||||||||||||||||||
Earnings(1) | $ | 2,059.1 | $ | 1,811.1 | $ | 1,437.0 | $ | 559.9 | $ | 455.6 | ||||||||||
Income from equity investees | (210.7 | ) | (173.7 | ) | (148.1 | ) | (121.9 | ) | (113.6 | ) | ||||||||||
Distributed income from equity investees | 86.7 | 85.6 | 91.4 | 53.0 | 52.6 | |||||||||||||||
Amortization of capitalized interest | 2.2 | 1.8 | 1.2 | 1.0 | 0.8 | |||||||||||||||
Fixed charges, excluding capitalized interest | 224.5 | 252.0 | 266.3 | 284.4 | 300.4 | |||||||||||||||
Total earnings available for fixed charges | $ | 2,161.8 | $ | 1,976.8 | $ | 1,647.8 | $ | 776.4 | $ | 695.8 | ||||||||||
Fixed charges: | ||||||||||||||||||||
Interest and debt expense(2) | $ | 35.9 | $ | 37.7 | $ | 37.7 | $ | 42.2 | $ | 61.4 | ||||||||||
Interest portion of rental expense | 191.8 | 218.7 | 233.5 | 245.1 | 246.2 | |||||||||||||||
Total fixed charges | $ | 227.7 | $ | 256.4 | $ | 271.2 | $ | 287.3 | $ | 307.6 | ||||||||||
Ratio of earnings to fixed charges | 9.5 | 7.7 | 6.1 | 2.7 | 2.3 | |||||||||||||||
(1) Earnings represent income from continuing operations before provision for income taxes.
(2) Includes amortization of debt-related expenses and interest capitalized during the period.