MasterCard 2015 Annual Report Download - page 34

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28
26, 2026, except to the extent necessary to satisfy its charitable disbursement requirements, for which purpose earlier sales are
permitted. The directors of the Foundation are required to be independent of us and our customers. The ownership of Class A
common stock by the Foundation, together with the restrictions on transfer, could discourage or make more difficult acquisition
proposals favored by the other holders of the Class A common stock. In addition, because the Foundation is restricted from
selling its shares for an extended period of time, it may not have the same interest in short or medium-term movements in our
stock price as, or incentive to approve a corporate action that may be favorable to, our other stockholders.
ITEM 1B. UNRESOLVED STAFF COMMENTS
Not applicable.
ITEM 2. PROPERTIES
As of December 31, 2015, MasterCard and its subsidiaries owned or leased 154 commercial properties. We own our corporate
headquarters, a 472,600 square foot building located in Purchase, New York. There is no outstanding debt on this building. Our
principal technology and operations center is a 528,000 square foot leased facility located in O’Fallon, Missouri. The term of the
lease on this facility is 10 years, which commenced on March 1, 2009. Our leased properties in the United States are located in
9 states and in the District of Columbia. We also lease and own properties in 60 other countries. These facilities primarily consist
of corporate and regional offices, as well as our operations centers.
We believe that our facilities are suitable and adequate for the business that we currently conduct. However, we periodically
review our space requirements and may acquire or lease new space to meet the needs of our business, or consolidate and dispose
of facilities that are no longer required.
ITEM 3. LEGAL PROCEEDINGS
Refer to Notes 10 (Accrued Expenses and Accrued Litigation) and 18 (Legal and Regulatory Proceedings) to the consolidated
financial statements included in Part II, Item 8.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.