Item 2. Properties
Item 2. Properties
The Company is headquartered in West Orange, New Jersey. The Company occupies 294,000 square feet of non-manufacturing space, which is used primarily for management, financial accounting, engineering, sales and administrative support. Of this space, the Company leases 187,000 square feet and owns properties of 107,000 square feet.
The Company also operate d manufacturing facilities in 8 coun tries as of December 31, 2025, as detailed below. Approximately 2% of the 1.9 million square feet the Company occupies is owned while the remainder is leased. See Note 19, "Commitments and Contingencies" , for additional information pertaining to leases.
The following is a list of the locations of the Company's principal manufacturing facilities at December 31, 2025:
Location
Approximate Square Feet
Product Group Produced at Facility
Owned/ Leased
Percentage Used for Manufacturing
Dongguan, PRC
661,000
Magnetic Solutions
Leased
36
%
Shenzhen, PRC
227,000
Power Solutions & Protection
Leased
100
%
Guangxi, PRC
243,000
Magnetic Solutions
Leased
90
%
Mumbai, India
53,000
Power Solutions & Protection
Leased
66
%
Haryana, India
36,000
Power Solutions & Protection
Leased
90
%
Netanya, Israel
60,000
Power Solutions & Protection
Leased
70
%
Dubnica nad Vahom, Slovakia
35,000
Power Solutions & Protection
Owned
50
%
Dubnica nad Vahom, Slovakia
70,000
Power Solutions & Protection
Leased
100
%
Worksop, United Kingdom
51,000
Connectivity Solutions
Leased
83
%
Chelmsford, United Kingdom
17,000
Connectivity Solutions
Leased
80
%
Dominican Republic
33,000
Magnetic Solutions
Leased
85
%
Cananea, Mexico
30,000
Connectivity Solutions
Leased
60
%
Reynosa, Mexico
88,000
Connectivity Solutions
Leased
56
%
Glen Rock, Pennsylvania
74,000
Connectivity Solutions
Leased
60
%
Waseca, Minnesota
128,000
Connectivity Solutions
Leased
83
%
McAllen, Texas
40,000
Connectivity Solutions
Leased
56
%
Melbourne, Florida
13,000
Connectivity Solutions
Leased
64
%
Belmont, New Hampshire
16,000
Power Solutions & Protection
Leased
90
%
1,875,000
Of the space described above, 241,000 square feet is used for engineering, warehousing, sales and administrative support functions at various locations and 404,000 square feet is designated for dormitories, canteen and other employee related facilities in the PRC.
The Territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC during 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact the current status of these territories, along with evolving political landscape in the region, will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC (including risks arising out of any changes in governmental and economic policy, such as increased or new tariffs, and current or additional trade restrictions, and the potential for adverse developments arising out of any political or economic instability related to Hong Kong or Taiwan). A significant portion of the Company's manufacturing operations and approximately 32.0% of its identifiable assets are located in Asia.
Item 3. Legal Proceedings
The information called for by this Item is incorporated herein by reference to the disclosure captioned "Legal Proceedings" in Note 19, "Co mmitments and Contingencies."
Item 4. Mine Safety Disclosures
Not applicable.
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PART II