01—Abstract
Summary
Summary of the 10-K/A filed February 12, 2003. Cited figures are marked; the original filing is the authoritative source.
This filing is Amendment No. 1 to Starbucks Corporation's Annual Report on Form 10-K for the fiscal year ended September 29, 2002, filed February 12, 2003.
It contains no new financial results, business description, or audited financial statements. Its sole purpose is to add the CEO and CFO certifications required under Section 302 of the Sarbanes-Oxley Act of 2002, which the original 10-K filed December 20, 2002 had omitted, even though the company stated it had complied with the underlying procedures under Rules 13a-14(c) and 15d-14. The amendment includes Exhibit 23 (Independent Auditor's Consent), Exhibit 99.1 (Section 906 certification by CEO Orin C.
Smith), and Exhibit 99.2 (Section 906 certification by CFO Michael Casey). Both officers certify that the annual report fully complies with Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and fairly presents, in all material respects, the company's financial condition and results of operations. The filing is signed by Michael Casey as executive vice president and chief financial officer.
For investors, this filing is primarily a procedural and governance item rather than a source of new financial information. Readers seeking Starbucks' fiscal 2002 operating results, balance sheet, cash flows, store data, or risk factors should refer to the original Form 10-K filed December 20, 2002. The amendment is noteworthy mainly as a record that a required certification was missing from the original filing and was corrected after the fact.
02—Key points
Key Highlights
- Filing type: Form 10-K/A (Amendment), filed February 12, 2003, for fiscal year ended September 29, 2002.
- Sole purpose: to include Section 302 SOX certifications from the CEO and CFO that were omitted from the original 10-K filed December 20, 2002.
- No new financial data: the amendment does not include financial statements, MD&A, or business descriptions; it refers readers to the original 10-K.
- Certifying officers: Orin C. Smith (President and CEO) and Michael Casey (Executive Vice President and CFO) each certified the report under Section 906 of SOX.
- Exhibits filed: Exhibit 23 (Independent Auditor's Consent), Exhibit 99.1 (CEO Section 906 certification), and Exhibit 99.2 (CFO Section 906 certification).
- Governance note: the company stated it had complied with Rules 13a-14(c) and 15d-14 procedures, but the certifications themselves were not attached to the original filing.
03—Questions
Frequently Asked Questions
Does this filing contain Starbucks' fiscal 2002 financial results?
No. The 10-K/A contains only the cover material, Item 15 exhibit list, signatures, and officer certifications. It explicitly refers readers to the original Form 10-K filed December 20, 2002 for the business description, audited financial statements, and financial results.
Why was this amendment filed?
The amendment was filed to add the Section 302 Sarbanes-Oxley certifications of the CEO and CFO, which were omitted from the original 10-K. The company stated it had otherwise followed the required certification procedures.
What does the Section 906 certification say?
Both Orin C. Smith and Michael Casey certify that the annual report for the fiscal year ended September 29, 2002 fully complies with Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and that the information in the report fairly presents, in all material respects, the company's financial condition and results of operations.
Should investors be concerned about the omitted certifications?
The omission is a procedural and documentation issue, and the company corrected it within about seven weeks. It does not by itself indicate a change in financial results. Investors may still wish to note it as a governance lapse in the early post-Sarbanes-Oxley period and review the original 10-K for the substantive financial picture.
04—Continue