Fiscal 2019 Annual Report - s22.q4cdn.com

1 Fiscal 2019 Annual ReportStarbucks Visitors Center at Hacienda Alsacia, Costa RicaUNITED STATES SECURITIES AND EXCHANGE COMMISSIONW ashington, DC 20549 Form 10-K Annual Report pursuant TO section 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the Fiscal Year Ended September 29, 2019 or TRANSITION Report pursuant TO section 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from to .Commission File Number: 0-20322 Starbucks Corporation(Exact Name of Registrant as Specified in its Charter)Washington91-1325671(State of Incorporation)(IRS Employer ID)2401 Utah Avenue South, Seattle, Washington 98134 (206) 447-1575 (Address of principal executive office, zip code, telephone number)Securities Registered pursuant to section 12(b) of the Act.

2 Title of Each ClassTrading SymbolName of Each Exchange on Which RegisteredCommon Stock, $ par value per shareSBUXN asdaq Global Select MarketSecurities Registered pursuant to section 12(g) of the Act: NoneIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No Indicate by check mark if the registrant is not required to file reports pursuant to section 13 or section 15(d) of the Act. Yes No xIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.

3 Yes x No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T ( of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files). Yes x No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company.

4 See the definitions of large accelerated filer, accelerated filer, smaller reporting company and emerging growth company in Rule 12b-2 of the Exchange Act. Large accelerated filerxAccelerated filer Non-accelerated filer Smaller reporting company Emerging growth company If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act.

5 Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No xThe aggregate market value of the voting stock held by non-affiliates of the registrant as of the last business day of the registrant s mostrecently completed second Fiscal quarter, based upon the closing sale price of the registrant s common stock on March 31, 2019 as reported onthe NASDAQ Global Select Market was $ billion. As of November 8, 2019, there were 1, million shares of the registrant s CommonStock INCORPORATED BY REFERENCEP ortions of the definitive Proxy Statement for the registrant s Annual Meeting of Shareholders to be held on March 18, 2020 have beenincorporated by reference into Part III of this Annual Report on Form CORPORATIONForm 10-KFor the Fiscal Year Ended September 29.

6 2019 TABLE OF CONTENTSPART IItem 1 BusinessItem 1 ARisk FactorsItem 1 BUnresolved Staff CommentsItem 2 PropertiesItem 3 Legal ProceedingsItem 4 Mine Safety DisclosuresPART IIItem 5 Market for the Registrant s Common Equity, Related Shareholder Matters and Issuer Purchases ofEquity SecuritiesItem 6 Selected Financial DataItem 7 Management s Discussion and Analysis of Financial Condition and Results of OperationsItem 7 AQuantitative and Qualitative Disclosures About Market RiskItem 8 Financial Statements and Supplementary DataIndex for Notes to Consolidated Financial StatementsReport of Independent Registered Public Accounting FirmItem 9 Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9

7 AControls and ProceduresItem 9 BOther InformationPART IIIItem 10 Directors, Executive Officers and Corporate GovernanceItem 11 Executive CompensationItem 12 Security Ownership of Certain Beneficial Owners and Management and Related Shareholder MattersItem 13 Certain Relationships and Related Transactions, and Director IndependenceItem 14 Principal Accounting Fees and ServicesPART IVItem 15 Exhibits, Financial Statement SchedulesSIGNATURES291717171718202343448 48889898989899097868649 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSThis Annual Report on Form 10-K includes forward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995.

8 Forward-looking statements can be identified by the fact that they do not relate strictly tohistorical or current facts. They often include words such as believes, expects, anticipates, estimates, intends, plans, seeks or words of similar meaning, or future or conditional verbs, such as will, should, could, may, aims, intends, or projects. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances,and those future events or circumstances may not occur.

9 You should not place undue reliance on forward-looking statements,which speak only as of the date of this Annual Report on Form 10-K. These forward-looking statements are all based oncurrently available operating, financial and competitive information and are subject to various risks and uncertainties. Ouractual future results and trends may differ materially depending on a variety of factors, including, but not limited to, the risksand uncertainties discussed under Risk Factors and Management s Discussion and Analysis of Financial Condition andResults of Operations.

10 Given these risks and uncertainties, you should not rely on forward-looking statements as a predictionof actual results. Any or all of the forward-looking statements contained in this Annual Report on Form 10-K and any otherpublic statement made by us, including by our management, may turn out to be incorrect. We are including this cautionary noteto make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 forforward-looking statements. We expressly disclaim any obligation to update or revise any forward-looking statements, whetheras a result of new information, future events or Corporation2019 Form 10-K1 PART IItem 1.