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Deferred Revenue
 9 Months Ended
Jul. 02, 2023
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 July 2, 2023, the current and long-term deferred revenue related to Nestlé was $177.0 million and $6.0 billion, respectively. As of October 2, 2022, the current and long-term deferred revenue related to the Nestlé up-front payment was $177.0 million and $6.2 billion, respectively. During the quarter and three quarters ended July 2, 2023, we recognized $44.1 million and $132.3 million of prepaid royalty revenue related to Nestlé. During the quarter and three quarters ended July 3, 2022, we recognized $44.1 million and $132.5 million of prepaid royalty revenue related to Nestlé.
Changes in our deferred revenue balance related to our stored value cards and loyalty program (in millions):
Quarter Ended July 2, 2023
Total
Stored value cards and loyalty program at April 2, 2023
$1,664.5 
Revenue deferred - card activations, card reloads and Stars earned3,641.3 
Revenue recognized - card and Stars redemptions and breakage(3,662.9)
Other(1)
(14.7)
Stored value cards and loyalty program at July 2, 2023(2)
$1,628.2 
Quarter Ended July 3, 2022
Total
Stored value cards and loyalty program at April 3, 2022
$1,645.2 
Revenue deferred - card activations, card reloads and Stars earned3,282.6 
Revenue recognized - card and Stars redemptions and breakage(3,312.3)
Other(1)
(21.7)
Stored value cards and loyalty program at July 3, 2022(2)
$1,593.8 
Three Quarters Ended July 2, 2023
Total
Stored value cards and loyalty program at October 2, 2022
$1,503.0 
Revenue deferred - card activations, card reloads and Stars earned11,280.7 
Revenue recognized - card and Stars redemptions and breakage(11,155.4)
Other(1)
(0.1)
Stored value cards and loyalty program at July 2, 2023(2)
$1,628.2 
Three Quarters Ended July 3, 2022
Total
Stored value cards and loyalty program at October 3, 2021
$1,448.5 
Revenue deferred - card activations, card reloads and Stars earned10,324.1 
Revenue recognized - card and Stars redemptions and breakage(10,149.4)
Other(1)
(29.4)
Stored value cards and loyalty program at July 3, 2022(2)
$1,593.8 
(1)“Other” primarily consists of changes in the stored value cards and loyalty program balances resulting from foreign currency translation.
(2)As of July 2, 2023 and July 3, 2022, approximately $1.5 billion and $1.5 billion of these amounts were current, respectively.