Item 2. Properties
Item 2. PROPERTIES
Facilities
We lease various office space in New Jersey, New York, Missouri, California, and India and we lease warehouse space in Missouri.
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Index to Form 10-K Index to FS
For our physical campus retail operations, we typically have the exclusive right to operate the official physical school bookstore on college campuses through multi-year management service agreements with our schools. In turn, we pay the school a percentage of store sales and, in some cases, a minimum fixed guarantee. These contracts with colleges and universities are typically five years with renewal options, but can range from one to 15 years, and are typically cancelable by either party without penalty with 90 to 120 days' notice.
As of May 1, 2021, these contracts for the 769 physical stores that we operate expire as follows:
Contract Terms to Expire During
(12 months ending on or about April 30) Number of Physical Campus Stores
2022 104
2023 50
2024 34
2025 70
2026 79
2027 and later 432
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.