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Segment Reporting | 12 Months Ended
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Oct. 01, 2023
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting Segment information is prepared on the same basis that our ceo, who is our Chief Operating Decision Maker, manages the segments, evaluates financial results and makes key operating decisions. We have three reportable operating segments: 1) North America, which is inclusive of the U.S. and Canada; 2) International, which is inclusive of China, Japan, Asia Pacific, Europe, Middle East and Africa, Latin America and the Caribbean; and 3) Channel Development. North America and International operations sell coffee and other beverages, complementary food, packaged coffees, single-serve coffee products and a focused selection of merchandise through company-operated stores and licensed stores. Our North America segment is our most mature business and has achieved significant scale. Channel Development revenues include packaged coffee, tea, foodservice products and ready-to-drink beverage sales to customers outside of our company-operated and licensed stores. Most of our Channel Development revenues are from product sales to and royalty revenues from Nestlé through the Global Coffee Alliance. Consolidated revenue mix by product type (in millions):
Fiscal Year Ended | Oct 1, 2023 |  | Oct 2, 2022 |  | Oct 3, 2021
Beverage(1) | $ | 21,684.8 |  |  | 60 | % |  | $ | 19,555.3 |  |  | 61 | % |  | $ | 18,317.0 |  |  | 63 | %
Food(2) | 6,585.1 |  |  | 18 | % |  | 5,804.2 |  |  | 18 | % |  | 5,053.4 |  |  | 17 | %
Other(3) | 7,705.7 |  |  | 22 | % |  | 6,890.8 |  |  | 21 | % |  | 5,690.2 |  |  | 20 | %
Total | $ | 35,975.6 |  |  | 100 | % |  | $ | 32,250.3 |  |  | 100 | % |  | $ | 29,060.6 |  |  | 100 | %
(1) Beverage represents sales within our company-operated stores. (2) Food includes sales within our company-operated stores. (3) “Other” primarily consists of packaged and single-serve coffees and teas, royalty and licensing revenues, beverage-related ingredients and serveware, among other items. Information by geographic area (in millions):
Fiscal Year Ended | Oct 1, 2023 |  | Oct 2, 2022 |  | Oct 3, 2021
Net revenues: |  |  |  |  |
United States | $ | 26,398.3 |  |  | $ | 23,365.6 |  |  | $ | 20,377.8 |
China | 3,081.5 |  |  | 3,008.3 |  |  | 3,674.8 |
Other countries | 6,495.8 |  |  | 5,876.4 |  |  | 5,008.0 |
Total | $ | 35,975.6 |  |  | $ | 32,250.3 |  |  | $ | 29,060.6 |
|  | Oct 1, 2023 |  | Oct 2, 2022
Long-lived assets: |  |  |  |
United States |  | $ | 14,011.4 |  |  | $ | 13,176.2 |
China |  | 4,244.9 |  |  | 4,174.0 |
Other countries |  | 3,885.8 |  |  | 3,609.5 |
Total |  | $ | 22,142.1 |  |  | $ | 20,959.7 |
No customer accounts for 10% or more of our revenues. Revenues are shown based on the geographic location of our customers. Revenues from countries other than the U.S. and China consist primarily of revenues from Japan, Canada and the U.K., which together account for approximately 71% of net revenues from other countries for fiscal 2023. Management evaluates the performance of its operating segments based on net revenues and operating income. The accounting policies of the operating segments are the same as those described in Note 1, Summary of Significant Accounting Policies and Estimates. Operating income represents earnings before other income and expenses and income taxes. The identifiable assets by segment disclosed in this note are those assets specifically identifiable within each segment and include cash and cash equivalents, ROU assets, net property, plant and equipment, equity and cost investments, goodwill and other intangible assets. Assets not attributed to reportable operating segments are corporate assets and are primarily comprised of cash and cash equivalents available for general corporate purposes, investments, assets of the corporate headquarters and roasting facilities and inventory. The financial information below is presented for our reportable operating segments and Corporate and Other for the fiscal years ended October 1, 2023, October 2, 2022 and October 3, 2021 and as of October 1, 2023 and October 2, 2022.
(in millions) | North America |  | International |  |  |  | Channel Development |  | Corporate and Other |  | Total
Fiscal 2023 |  |  |  |  |  |  |  |  |  |  |
Total net revenues | $ | 26,569.6 |  |  | $ | 7,487.6 |  |  |  |  | $ | 1,893.8 |  |  | $ | 24.6 |  |  | $ | 35,975.6 |
Depreciation and amortization expenses | 910.1 |  |  | 335.1 |  |  |  |  | 0.1 |  |  | 117.3 |  |  | 1,362.6 |
Income from equity investees | — |  |  | 2.7 |  |  |  |  | 295.7 |  |  | — |  |  | 298.4 |
Operating income/(loss) | $ | 5,495.7 |  |  | $ | 1,230.9 |  |  |  |  | $ | 967.6 |  |  | $ | (1,823.4) |  |  | $ | 5,870.8 |
Fiscal 2022 |  |  |  |  |  |  |  |  |  |  |
Total net revenues | $ | 23,370.8 |  |  | $ | 6,940.1 |  |  |  |  | $ | 1,843.6 |  |  | $ | 95.8 |  |  | $ | 32,250.3 |
Depreciation and amortization expenses | 808.4 |  |  | 513.0 |  |  |  |  | 0.1 |  |  | 126.4 |  |  | 1,447.9 |
Income from equity investees | — |  |  | 2.3 |  |  |  |  | 231.8 |  |  | — |  |  | 234.1 |
Operating income/(loss) | $ | 4,486.5 |  |  | $ | 833.2 |  |  |  |  | $ | 817.3 |  |  | $ | (1,519.2) |  |  | $ | 4,617.8 |
Fiscal 2021 |  |  |  |  |  |  |  |  |  |  |
Total net revenues | $ | 20,447.9 |  |  | $ | 6,921.6 |  |  |  |  | $ | 1,593.6 |  |  | $ | 97.5 |  |  | $ | 29,060.6 |
Depreciation and amortization expenses | 753.9 |  |  | 544.7 |  |  |  |  | 1.2 |  |  | 141.9 |  |  | 1,441.7 |
Income from equity investees | — |  |  | 135.3 |  |  |  |  | 250.0 |  |  | — |  |  | 385.3 |
Operating income/(loss) | $ | 4,259.3 |  |  | $ | 1,245.7 |  |  |  |  | $ | 789.1 |  |  | $ | (1,422.0) |  |  | $ | 4,872.1 |
(in millions) | North America |  | International |  |  |  | Channel Development |  | Corporate and Other |  | Total
Total assets at October 1, 2023 | $ | 10,869.1 |  |  | $ | 8,045.3 |  |  |  |  | $ | 188.8 |  |  | $ | 10,342.3 |  |  | $ | 29,445.5 |
Total assets at October 2, 2022 | 10,029.9 |  |  | 8,602.8 |  |  |  |  | 130.5 |  |  | 9,215.2 |  |  | 27,978.4 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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