Item 2. Properties.
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Item 2. Properties.
The Company conducts business at plants and offices that can be owned or leased and located in the U.S. or outside the U.S., with square footage primarily in Germany (11%), the U.K. (6%), The Netherlands (6%), Italy (5%), India (4%), China (3%) and Canada (2%). The Company recently invested a significant amount of capital to expand the China facility which was completed in late 2022 and the India facility which is expected to be completed in early 2023, ultimately doubling the Company’s historic capacity in each of these countries. Otherwise, management considers its facilities suitable and adequate for the Company’s operations and believes it has ample capacity in its plants and equipment to meet demand increases for future growth in the intermediate term, especially given its operational improvement initiatives that usually increase capacity.
A summary of properties used by the Company’s operations as of December 31, 2022 are shown in the following table:
| Square footage (in millions) | ||||||||||||||||||||||||||||||||
| Location | Owned/Leased | |||||||||||||||||||||||||||||||
| Total | Domestic | International | Owned | Leased | ||||||||||||||||||||||||||||
| Fluid & Metering Technologies | 2.0 | 1.4 | 0.6 | 1.3 | 0.7 | |||||||||||||||||||||||||||
| Health & Science Technologies | 2.0 | 1.0 | 1.0 | 0.7 | 1.3 | |||||||||||||||||||||||||||
| Fire & Safety/Diversified Products | 1.2 | 0.6 | 0.6 | 0.9 | 0.3 | |||||||||||||||||||||||||||
| Other(1) | 0.3 | 0.1 | 0.2 | 0.1 | 0.2 | |||||||||||||||||||||||||||
| Total | 5.5 | 3.1 | 2.4 | 3.0 | 2.5 |
(1) Other includes shared service locations as well as the Company’s executive office, which occupies 40,261 square feet of leased space in Northbrook, Illinois and 16,268 square feet of leased space in Chicago, Illinois.
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