Item 2. PROPERTIES

Properties utilized by us at December 31, 2016 were as follows:

North America

In this segment we have 15 manufacturing plants located in six states and two non-U.S. countries, of which 11 are owned directly by us or our subsidiaries and four are leased from outside parties. The terms of leases in effect at December 31, 2016 expire between 2017 and 2025.

Rest of World

In this segment we have six manufacturing plants located in four non-U.S. countries, of which three are owned directly by us or our subsidiaries and three are leased from outside parties. Initial lease terms generally provide for minimum terms of one to six years and have one or more renewal options. The terms of leases in effect at December 31, 2016 expire between 2017 and 2020.

Corporate and General

We consider our plants and other physical properties to be suitable, adequate, and of sufficient productive capacity to meet the requirements of our business. The manufacturing plants operate at varying levels of utilization depending on the type of operation and market conditions. The executive offices of the company, which are leased, are located in Milwaukee, Wisconsin.