STARBUCKS CORP

Note 9: Leases

The components of lease costs(in millions):

(1)Includes immaterial amounts of sublease income and rent concessions.

The following table includes supplemental information(in millions):

(1)The fiscal year 2026 amounts exclude Starbucks retail operations in China that were classified as held for sale and the fiscal year 2025 amounts include leases obtained in the acquisition of 23.5 Degrees Topco Limited.

Finance lease assets are recorded in property, plant and equipment, net or assets held for sale, and the corresponding lease liabilities are included in accrued liabilities or liabilities held for sale on the consolidated balance sheets. These balances were not material as of December 28, 2025 and September 28, 2025. Finance lease costs were also immaterial for the quarters ended December 28, 2025 and December 29, 2024.

Minimum future maturities of operating lease liabilities(in millions):

(1)Balances exclude Starbucks retail operations in China that were classified as held for sale.

As of December 28, 2025, we have entered into operating leases that have not yet commenced of $639.0 million, primarily related to real estate leases. These leases will commence between fiscal year 2026 and fiscal year 2030 with lease terms ranging from 5 to 20 years. Lease exit costs associated with our restructuring efforts primarily relate to the closure of certain Starbucks company-operated stores. Total lease exit costs of $48.9 million were recorded in restructuring and impairments on the consolidated statement of earnings in the first quarter of fiscal 2026. See Note 17, Restructuring, for further discussion.