−Removed: We lease and own numerous facilities worldwide with larger concentrations of space in Kentucky, New Jersey, California, Mexico, Guatemala, the Philippines, Jamaica, Romania and India.
+Added: We lease and own numerous facilities worldwide with larger concentrations of space in Kentucky, New Jersey, California, Mexico, Guatemala, India, the Philippines, Jamaica and Romania.
Our owned and leased facilities house general offices, sales offices, service locations, call centers and distribution centers.
−Removed: The size of our property portfolio as of December 31, 2019 was approximately 6.6 million square feet at an annual operating cost (lease costs and expenses) of approximately $157 million and comprised 206 leased properties and 4 owned properties.
+Added: The size of our property portfolio as of December 31, 2020 was approximately 5.9 million square feet at an annual operating cost (lease costs and expenses) of approximately $158 million and was composed of 207 leased properties and 4 owned properties.
We believe that our current facilities are suitable and adequate for our current businesses.
Because of the interrelation of our business segments, each of the segments uses substantially all of these properties at least in part.
−Removed: We had 1.8 million square feet of our leased and owned properties that became surplus in 2019 due to the implementation of our strategic transformation program as well as various productivity initiatives to consolidate our real estate footprint.
+Added: We had 0.6 million square feet of our leased and owned properties that became surplus in 2020 due to the implementation of our efficiency initiatives to consolidate our real estate footprint.
We aggressively managed our surplus properties through early terminations and subleasing of leased properties and the sale of owned properties.
−Removed: As a result, approximately 1.6 million square feet of the surplus property portfolio were resolved as of December 31, 2019.
−Removed: Additional leased and owned properties may become surplus in the future as we continue the strategic transformation program.
+Added: As a result, approximately 0.8 million square feet of the surplus property portfolio were resolved during the year ended December 31, 2020.
+Added: Additional leased and owned properties may become surplus in the future as we continue to optimize our workforce location strategy based on existing conditions and leverage enhanced work-from-home capabilities.
We are obligated to maintain our leased surplus properties through required contractual lease periods and plan to dispose of or sublease these properties.
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.