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Minimum future rental payments under non-cancelable operating leases and lease financing arrangements as of September 27,
2015 (in millions):
Fiscal Year Ending
Operating
Leases
Lease Financing
Arrangements
2016 $ 1,032.4 $ 3.2
2017 892.5 3.2
2018 739.8 3.2
2019 624.0 3.2
2020 548.9 3.2
Thereafter 1,831.9 31.1
Total minimum lease payments $ 5,669.5 $ 47.1
We have subleases related to certain of our operating leases. During fiscal 2015, 2014, and 2013, we recognized sublease
income of $11.9 million, $13.3 million, and $9.3 million, respectively. Additionally, as of September 27, 2015, the gross
carrying value of assets related to build-to-suit lease arrangements accounted for as financing leases was $66.8 million with
associated accumulated depreciation of $2.5 million. We had no built-to-suit lease arrangements as of September 28, 2014.
Note 11: Equity
As discussed in Note 1, Summary of Significant Accounting Policies, on April 9, 2015, we effected a two-for-one stock split of
our $0.001 par value common stock for shareholders of record as of March 30, 2015. All share data presented in this note has
been retroactively adjusted to reflect this stock split.
In addition to 2.4 billion shares of authorized common stock with $0.001 par value per share, we have authorized 7.5 million
shares of preferred stock, none of which was outstanding at September 27, 2015.
Included in additional paid-in capital in our consolidated statements of equity as of September 27, 2015 and September 28,
2014 is $39.4 million related to the increase in value of our share of the net assets of Starbucks Japan at the time of its initial
public stock offering in fiscal 2002. Also included in additional paid-in capital as of September 27, 2015 is $1.7 million, which
represents the difference between the carrying value of the remaining outstanding noncontrolling interests in Starbucks Japan
prior to obtaining full ownership and the cash paid to acquire the noncontrolling interests. Refer to Note 2, Acquisitions and
Divestitures, for further discussion.
We repurchased 29.0 million shares of common stock at a total cost of $1.4 billion, and 21.0 million shares at a total cost of
$769.8 million for the years ended September 27, 2015 and September 28, 2014, respectively. On July 23, 2015, we announced
that our Board of Directors approved an increase of 50 million shares to our ongoing share repurchase program. As of
September 27, 2015, 52.7 million shares remained available for repurchase under current authorizations.
During fiscal years 2015 and 2014, our Board of Directors declared the following dividends (in millions, except per share
amounts):
Dividend Per Share Record date Total Amount Payment Date
Fiscal Year 2015
First quarter $0.16 February 5, 2015 $240.1 February 20, 2015
Second quarter $0.16 May 7, 2015 $240.1 May 22, 2015
Third quarter $0.16 August 6, 2015 $239.0 August 21, 2015
Fourth quarter $0.20 November 12, 2015 $297.0 November 27, 2015
Fiscal Year 2014:
First quarter $0.13 February 6, 2014 $196.4 February 21, 2014
Second quarter $0.13 May 8, 2014 $195.5 May 23, 2014
Third quarter $0.13 August 7, 2014 $195.3 August 22, 2014
Fourth quarter $0.16 November 13, 2014 $239.8 November 28, 2014
Comprehensive Income
Comprehensive income includes all changes in equity during the period, except those resulting from transactions with our
shareholders. Comprehensive income is comprised of net earnings and other comprehensive income. Accumulated other
Starbucks Corporation 2015 Form 10-K 77