A Dark Vector Cognition product

Item 2. Properties

1K characters. Original on sec.gov · Markdown

Item 2. Properties

We owned and leased the following properties as of May 31, 2021:

Square feet
Owned facilities:
Rochester, New York1,012,000
Other U.S. locations30,000
International locations13,000
Total owned facilities1,055,000
Leased facilities:
Rochester, New York90,000
Other U.S. locations1,541,000
International locations92,000
Total leased facilities1,723,000

Our facilities in Rochester, New York house various distribution, processing, and technology functions, certain ancillary functions, a telemarketing unit, and other back-office functions. Facilities outside of Rochester, New York are in various locations throughout the U.S. and house our service centers, fulfillment centers and sales functions. Our international locations primarily house our European operations in Denmark and Germany and a location in India houses information technology, service, and sales support functions.

Table of Contents

During fiscal 2021, the Company substantially completed cost-saving initiatives, including an acceleration of our long-term strategy to reduce our geographic footprint. As such, the Company ceased the use of certain leased properties. We believe that adequate, suitable lease space will continue to be available to meet our needs.

Previous: Item 1B. Unresolved Staff Comments · Next: Item 3. Legal Proceedings