EQUITY

On August 11, 2014, the Company announced that the Scotts Miracle-Gro Board of Directors approved a share repurchase authorization effective November 1, 2014, which will expire on September 30, 2019, to repurchase up to $500.0 million of Common Shares. On August 3, 2016, the Company announced that the Scotts Miracle-Gro Board of Directors approved a $500.0 million increase to the current share repurchase authorization. The amended authorization allows for repurchases of Common Shares of $1.0 billion through September 30, 2019. During the three and nine months ended July 2, 2016, Scotts Miracle-Gro repurchased 0.5 million and 1.2 million of its Common Shares for $38.4 million and $81.2 million, respectively. From the inception of this share repurchase program in the fourth quarter of fiscal 2014 through July 2, 2016, Scotts Miracle-Gro has repurchased approximately 1.4 million Common Shares for $96.0 million.

On August 3, 2016, the Company announced that the Scotts Miracle-Gro Board of Directors approved an increase in the quarterly cash dividend from $0.47 to $0.50 per Common Share.

The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interests for the nine months ended July 2, 2016 and June 27, 2015 (in millions):



	Common Shares and Capital in Excess of Stated Value			Retained Earnings			Treasury Shares			Accumulated Other Comprehensive Loss			Total Shareholders’ Equity - Controlling Interest			Non-controlling Interest			Total Equity
Balance at September 30, 2014	$	395.3		$	636.9		$	(392.3	)	$	(86.2	)	$	553.7		$	13.5		$	567.2
Net income (loss)	—			183.4			—			—			183.4			(0.1		)	183.3
Other comprehensive loss	—			—			—			(5.3		)	(5.3		)	—			(5.3		)
Share-based compensation	15.7			—			—			—			15.7			—			15.7
Dividends declared ($1.3500 per share)	—			(83.2		)	—			—			(83.2		)	—			(83.2		)
Treasury share purchases	—			—			(14.8		)	—			(14.8		)	—			(14.8		)
Treasury share issuances	(7.1		)	—			37.6			—			30.5			—			30.5
Balance at June 27, 2015	$	403.9		$	737.1		$	(369.5	)	$	(91.5	)	$	680.0		$	13.4		$	693.4

Balance at September 30, 2015	$	400.4		$	684.2		$	(357.1	)	$	(106.8	)	$	620.7		$	12.4		$	633.1
Net income (loss)	—			341.9			—			—			341.9			(0.2		)	341.7
Other comprehensive loss	—			—			—			(10.7		)	(10.7		)	—			(10.7		)
Share-based compensation	13.9			—			—			—			13.9			—			13.9
Dividends declared ($1.4100 per share)	—			(87.5		)	—			—			(87.5		)	—			(87.5		)
Treasury share purchases	—			—			(81.2		)	—			(81.2		)	—			(81.2		)
Treasury share issuances	(13.2		)	—			29.0			—			15.8			—			15.8
Investment in noncontrolling interest	—			—			—			—			—			7.1			7.1
Balance at July 2, 2016	$	401.1		$	938.6		$	(409.3	)	$	(117.5	)	$	812.9		$	19.3		$	832.2

Share-Based Awards

The following is a summary of the share-based awards granted during the periods indicated:



	NINE MONTHS ENDED
	JULY 2, 2016		JUNE 27, 2015
Employees
Stock options	444,890		440,690
Restricted stock units	74,422		78,463
Performance units	56,315		78,352
Board of Directors
Deferred stock units	28,103		28,553
Total share-based awards	603,730		626,058

Aggregate fair value at grant dates (in millions)	$	16.4	$	16.9

Total share-based compensation was as follows for each of the periods presented:



	THREE MONTHS ENDED				NINE MONTHS ENDED
	JULY 2, 2016		JUNE 27, 2015		JULY 2, 2016		JUNE 27, 2015
	(In millions)
Share-based compensation	$	2.4	$	2.1	$	13.7	$	11.4
Tax benefit recognized	0.9		0.8		5.2		4.3