Starbucks Corp AND Green Mountain Coffee Roasters Inc

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Green Mount

Green Mountain Coffee Roasters, Inc. Green Mountain Coffee Roasters, Inc.
Consolidated Balance Sheets
Consolidated Balance Sheets (Dollars in thousands)
(Dollars in thousands)
September 29, September 24,    September 25, September 26,
2012 2011 2010 2009
Assets (As Restated)
Current assets:   
Cash and cash equivalents $ 58,289.00 $ 12,989.00 Assets   
Restricted cash and cash equivalents $ 12,884.00 $ 27,523.00 Current assets:   
Receivables, less uncollectible accounts and return allowances of $34,517 and $21,407 at September 29, 2012 and September 24, 2011, respectively $ 363,771.00 $ 310,321.00 Cash and cash equivalents    $ 4,401    $ 241,811   
Inventories $ 768,437.00 $ 672,248.00 Restricted cash and cash equivalents    355    280   
Income taxes receivable $ 32,943.00 $ 18,258.00 Short-term investments    —      50,000   
Other current assets $ 35,019.00 $ 28,072.00 Receivables, less uncollectible accounts and return allowances of $14,056 and $4,792 at September 25, 2010 and September 26, 2009, respectively    172,200    91,559   
Deferred income taxes, net $ 51,613.00 $ 36,231.00 Inventories    262,478    132,182   
Current assets held for sale — $ 25,885.00 Income taxes receivable    5,350    —     
Total current assets $ 1,322,956.00 $ 1,131,527.00 Other current assets    23,488    11,384   
Deferred income taxes, net    26,997    10,151   
Fixed assets, net $ 944,296.00 $ 579,219.00   
Intangibles, net $ 498,352.00 $ 529,494.00 Total current assets    495,269    537,367   
Goodwill $ 808,076.00 $ 789,305.00 Fixed assets, net    258,923    135,981   
Other long-term assets $ 42,109.00 $ 47,759.00 Intangibles, net    220,005    36,478   
Long-term assets held for sale — $ 120,583.00 Goodwill    386,416    99,600   
Other long-term assets    9,961    3,979   
Total assets $ 3,615,789.00 $ 3,197,887.00   
Total assets    $ 1,370,574    $ 813,405   
Liabilities and Stockholders’ Equity   
Current liabilities: Liabilities and Stockholders’ Equity   
Current portion of long-term debt $ 6,691.00 $ 6,664.00 Current liabilities:   
Current portion of capital lease and financing obligations $ 3,057.00 $ 5.00 Current portion of long-term debt    $ 19,009    $ 5,030   
Accounts payable $ 279,577.00 $ 265,511.00 Accounts payable    139,220    79,772   
Accrued compensation costs $ 38,458.00 $ 43,260.00 Accrued compensation costs    24,236    17,264   
Accrued expenses $ 132,992.00 $ 92,120.00 Accrued expenses    49,279    19,895   
Income tax payable $ 29,322.00 $ 9,617.00 Income tax payable    1,934    1,225   
Deferred income taxes, net $ 245.00 $ 243.00 Other short-term liabilities    4,377    3,257   
Other current liabilities $ 29,645.00 $ 34,613.00   
Current liabilities related to assets held for sale — $ 19,341.00 Total current liabilities    238,055    126,443   
Total current liabilities $ 519,987.00 $ 471,374.00 Long-term debt    335,504    73,013   
Deferred income taxes, net    92,579    26,599   
Long-term debt, less current portion $ 466,984.00 $ 575,969.00 Other long-term liabilities    5,191    —     
Capital lease and financing obligations, less current portion $ 54,794.00 — Commitments and contingencies (See Notes 6 and 22)   
Deferred income taxes, net $ 270,348.00 $ 189,637.00 Stockholders’ equity:   
Other long-term liabilities $ 32,544.00 $ 27,184.00 Preferred stock, $0.10 par value: Authorized—1,000,000 shares; No shares issued or outstanding    —      —     
Long-term liabilities related to assets held for sale — $ 474.00 Common stock, $0.10 par value: Authorized—200,000,000 shares; Issued—132,823,585 and 130,811,052 shares at September 25, 2010 and September 26, 2009, respectively    13,282    13,081   
Additional paid-in capital    473,749    441,875   
Commitments and contingencies (See Notes 5 and 19) Retained earnings    213,844    134,338   
Accumulated other comprehensive loss    (1,630 )  (1,870 ) 
Redeemable noncontrolling interests $ 9,904.00 $ 21,034.00 ESOP unallocated shares, at cost—0 and 38,060 shares at September 25, 2010 and September 26, 2009, respectively    —      (74 ) 
  
Stockholders’ equity: Total stockholders’ equity    699,245    587,350   
Preferred stock, $0.10 par value: Authorized - 1,000,000 shares; No shares issued or outstanding — —   
Common stock, $0.10 par value: Authorized - 500,000,000 shares; Issued and outstanding - 152,680,855 and 154,466,463 shares at September 29, 2012 and September 24, 2011, respectively $ 15,268.00 $ 15,447.00 Total liabilities and stockholders’ equity    $ 1,370,574    $ 813,405   
Additional paid-in capital $ 1,464,560.00 $ 1,499,616.00   
Retained earnings $ 771,200.00 $ 411,727.00 The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.
Accumulated other comprehensive income (loss) $ 10,200.00 (14,575
Total stockholders’ equity $ 2,261,228.00 $ 1,912,215.00
Total liabilities and stockholders’ equity $ 3,615,789.00 $ 3,197,887.00
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.
2012 2011 2010
Current Assets $ 1,322,956 $ 1,131,527 495,269
Current Liabilities $ 519,987 $ 471,374 238,055
a. Current Ratio 2.5 2.4 2.08
Cash 58,289 12,989 4,401
Marketable Securities - - -
Net Recievables 363,771 310,321 172,200
Current Liabilities $ 519,987 $ 471,374 238,055
b. Acid-Test (Quick) Ratio 0.81 0.69 0.74
Beg. Net Recvbles 310,321 172,200 91,559
End Net Recvbles 363,771 310,321 172,200
Avg Net Recvbl $ 337,046 $ 241,261 $ 131,880
Net Sales $ 3,859,198 $ 2,650,899 $ 1,356,775
c. Receivables Turnover 11.45 10.99 10.29
Beg Inventory $ 672,248.00 262,478 132,182
Ending Inventory $ 768,437.00 $ 672,248.00 262,478
Avg Inventory 720342.50 467363.00 197330.00
COGS 2589799.00 1746274.00 931017.00
d. Inventory Turnover 3.60 3.74 4.72
Net Sales 3,859,198 2,650,899 1,356,775
Beg Assets 3,197,887 1,370,574 813,405
Ending Assets 3,615,789 $ 3,197,887 1,370,574
Avg Total Assets 3406838 2284231 1091990
e. Asset Turnover 1.13 1.16 1.24
Income before Interest and taxes 599124 360404 138503
Interest expense 22983 57657 5294
2 a. Times interest earned 26.07 6.25 26.16
Total Liabilities $ 1,354,561.00 $ 1,285,672.00 671,329
Total Assets $ 3,615,789.00 $ 3,197,887.00 1,370,574
b. Debt total assets Ratio 0.37 0.40 0.49
Beg Liabilities $ 1,285,672.00 671,329 226,055
End Liabilities $ 1,354,561 $ 1,285,672 $ 671,329
Average total Liabilities $ 1,320,117 $ 978,501 $ 448,692
Net cash from Operating activities 477785 785 -2297
c. Cash Debt coverage Ratio 0.36 0.00 -0.01
Common Stock holders equity $ 2,261,228.00 $ 1,912,215.00 699,245
Outstanding shares 152680855 154,466,463 132,823,585
d. Book value per share $ 0.015 $ 0.012 $ 0.005
#3
Net Income 362628 199501 79506
Net Sales 3859198 2650899 1356775
a. Profit margin on Sales 0.094 0.075 0.059
Beg Assets 3,197,887 1,370,574 813,405
Ending Assets 3,615,789 $ 3,197,887 1,370,574
Avg Total Assets 3406838 2284231 1091990
Net Income 362628 199501 79506
b.Rate of Return of Assets 0.106 0.087 0.073
Net Income 362628 199501 79506
Preferred Dividends 0 0 0 Common stock only
Beg Stockholders Equity $ 1,912,215.00 699,245 587,350
End Stockholders equity $ 2,261,228.00 $ 1,912,215.00 699,245
Average Stockholders $ 2,086,721.50 $ 1,305,730.00 $ 643,297.50
c. rate of return on common stock Equity $ 0.17 $ 0.15 $ 0.12
Net Income 362628 199501 79506
Preferred Dividends 0 0 0 Common stock only
Beg. # of shares outstanding 152680855 13823585 130811052
End # of shares outstanding 154466463 152680855 13823585
Average # of shares outstanding 153573659 83252220 72317318.5
D.Earnings Per share 0.0023612643 0.0023963445 0.0010994047

Starbucks

Sep 30, Oct 2,
2012 2011 Oct. 03, 2010
ASSETS
Current assets:
Cash and cash equivalents $ 1,188.60 $ 1,148.10 1164
Short-term investments 848.4 902.6 0
Accounts receivable, net 485.9 386.5 302.7
Inventories 1,241.50 965.8 543.3
Prepaid expenses and other current assets 196.5 161.5 156.5
Deferred income taxes, net 238.7 230.4 304.2
Total current assets 4,199.60 3,794.90 2,470.70
Long-term investments — available-for-sale securities 116 107 2416.5
Equity and cost investments 459.9 372.3 341.5
Property, plant and equipment, net 2,658.90 2,355.00 2,416.50
Other assets 385.7 409.6 346.5
Goodwill 399.1 321.6 262.4
TOTAL ASSETS $ 8,219.20 $ 7,360.40
6385.9
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable $ 398.1 $ 540 282.6
282.6
Accrued liabilities 1,133.80 940.9 282.6
Insurance reserves 167.7 145.6 146.2
Deferred revenue 510.2 449.3 414.1
Total current liabilities 2,209.80 2,075.80 1,779.10
Long-term debt 549.6 549.5 549.4
Other long-term liabilities 345.3 347.8 375.1
Total liabilities 3,104.70 2,973.10 2,703.60
Shareholders’ equity:
Common stock ($0.001 par value) — authorized, 1,200.0 shares; issued and outstanding, 749.3 and 744.8 shares, respectively (includes 3.4 common stock units in both periods) 0.7 0.7 0.7
Additional paid-in capital 39.4 40.5 145.6
Retained earnings 5,046.20 4,297.40 3,471.20
Accumulated other comprehensive income 22.7 46.3
57.2
Total shareholders’ equity 5,109.00 4,384.90 3,674.70
Noncontrolling interests 5.5 2.4 7.6
Total equity 5,114.50 4,387.30 3,682.30
TOTAL LIABILITIES AND EQUITY $ 8,219.20 $ 7,360.40 6385.9
See Notes to Consolidated Financial Statements.
2012 2011 2010
Current Assets $ 4,200 $ 3,795 2,471
Current Liabilities $ 2,210 $ 2,076 1,779
a. Current Ratio 1.9 1.8 1.39
Cash 1,189 1,148 1,164
Marketable Securities - - -
Net Recievables 486 387 303
Current Liabilities $ 2,210 $ 2,076 1,779
b. Acid-Test (Quick) Ratio 0.76 0.74 0.82
Beg. Net Recvbles 387 303 271
End Net Recvbles 486 387 303
Avg Net Recvbl $ 437 $ 345 $ 287
Net Sales $ 13,300 $ 11,700 $ 10,707
c. Receivables Turnover 30.47 33.91 37.31
Beg Inventory $ 966 543 665
Ending Inventory $ 1,242 $ 966 543
Avg Inventory 1103.65 754.55 604.10
COGS 5813.30 4915.50 4416.5
d. Inventory Turnover 5.27 6.51 9.62
Net Sales 13,300 11,700 10,707
Beg Assets 7,360 6,386 5,576
Ending Assets 8,219 $ 7,360 6,386
Avg Total Assets 7790 6873 5981
e. Asset Turnover 1.71 1.70 1.79
Income before Interest and taxes 2091.8 1844.4 1925.7
Interest expense 32.7 33.3 32.7 2091.57
2 a. Times interest earned 63.97 55.39 58.89
Total Liabilities $ 3,104.70 $ 2,973.10 2,704
Total Assets $ 8,219.20 $ 7,360.40 6,386
b. Debt total assets Ratio 0.38 0.40 0.42
Beg Liabilities $ 2,973.10 2,704 2,531
End Liabilities $ 3,105 $ 2,973 $ 2,704
Average total Liabilities $ 3,039 $ 2,838 $ 2,617
Net cash from Operating activities 1750 1612 1705
c. Cash Debt coverage Ratio 0.58 0.57 0.65
Common Stock holders equity $ 5,109 $ 4,385 3,046
Outstanding shares 749.3 745 743
d. Book value per share $ 6.818 $ 5.887 $ 4.101
#3
Net Income 1383.8 1245.7 945.6
Net Sales 13299.5 11700.4 10707.4
a. Profit margin on Sales 0.104 0.106 0.088
Beg Assets 7,360 6,386 5,577
Ending Assets 8,219 $ 7,360 6,386
Avg Total Assets 7790 6873 5981
Net Income 1383.8 1245.7 945.6
b.Rate of Return of Assets 0.178 0.181 0.158
Net Income 1383.8 1245.7 945.6
Preferred Dividends 0 0 0 Common stock only
Beg Stockholders Equity $ 4,387 $ 3,682 $ 3,046
End Stockholders equity $ 5,115 $ 4,387 $ 3,682
Average Stockholders $ 4,751 $ 4,035 $ 3,364
c. rate of return on common stock Equity $ 0.29 $ 0.31 $ 0.28
Net Income 1383.8 1245.7 945.6
Preferred Dividends 0 0 0 Common stock only
Beg. # of shares outstanding 744.8 742.9 735
End # of shares outstanding 749 744.8 742.9
Average # of shares outstanding 746.9 743.85 738.95
D.Earnings Per share 1.853 1.675 1.280