XML 27 R15.htm IDEA: XBRL DOCUMENT v3.21.1
Deferred Revenue
 6 Months Ended
Mar. 28, 2021
Revenue from Contract with Customer Deferred Revenue
Our deferred revenue primarily consists of the prepaid royalty from Nestlé, for which we have continuing performance obligations to support the Global Coffee Alliance, our unredeemed stored value card liability and unredeemed loyalty points (“Stars”) associated with our loyalty program.
As of March 28, 2021, the current and long-term deferred revenue related to Nestlé was $178.9 million and $6.4 billion, respectively. During both quarters and two quarters ended March 28, 2021 and March 29, 2020, we recognized $44.2 million and $88.4 million of prepaid royalty revenue related to Nestlé, respectively.
Changes in our deferred revenue balance related to our stored value cards and loyalty program (in millions):
Quarter Ended March 28, 2021
Total
Stored value cards and loyalty program at December 27, 2020
$1,750.0 
Revenue deferred - card activations, card reloads and Stars earned2,709.7 
Revenue recognized - card and Stars redemptions and breakage(2,977.8)
Other(1)
(6.7)
Stored value cards and loyalty program at March 28, 2021(2)
$1,475.2 
Quarter Ended March 29, 2020
Total
Stored value cards and loyalty program at December 29, 2019
$1,561.0 
Revenue deferred - card activations, card reloads and Stars earned2,453.6 
Revenue recognized - card and Stars redemptions and breakage(2,736.4)
Other(1)
(5.1)
Stored value cards and loyalty program at March 29, 2020(2)
$1,273.1 
Two Quarters Ended March 28, 2021
Total
Stored value cards and loyalty program at September 27, 2020
$1,280.5 
Revenue deferred - card activations, card reloads and Stars earned6,147.1 
Revenue recognized - card and Stars redemptions and breakage(5,958.0)
Other(1)
5.6 
Stored value cards and loyalty program at March 28, 2021(2)
$1,475.2 
Two Quarters Ended March 29, 2020
Total
Stored value cards and loyalty program at September 29, 2019
$1,113.7 
Revenue deferred - card activations, card reloads and Stars earned5,961.1 
Revenue recognized - card and Stars redemptions and breakage(5,798.3)
Other(1)
(3.4)
Stored value cards and loyalty program at March 29, 2020(2)
$1,273.1 
(1)“Other” primarily consists of changes in the stored value cards and loyalty program balances resulting from foreign currency translation.
(2)As of March 28, 2021 and March 29, 2020, approximately $1,370.4 million and $1,191.5 million of these amounts were current, respectively.