Fortinet, Inc. 10-K

ITEM 2. Properties Our corporate headquarters is located in Sunnyvale, California and comprises approximately 395,000 square feet of building space on 21 acres of land. Refer to Note 17, Subsequent Events, in Part II, Item 8 of this Annual Report on Form 10-K for the January 2024 purchase of an additional 480,000 square feet in Santa Clara, CA which is located in close proximity to corporate headquarters. Along with our corporate headquarters, as of December 31, 2023, we operated the following facilities: Location Owned Square Footage Description of Use Burnaby and Ottawa, Canada 560,000 Datacenter operations, support functions and research and development Union City, California 350,000 Manufacturing assembly and operations Plano & Frisco, Texas 130,000 Office space and datacenter operations Torija, Spain 120,000 Future development of datacenter operations Chicago, Illinois 100,000 Office space and retail Sunrise, Florida 100,000 Office space Valbonne, France 70,000 Sales and support functions We also own additional building space in Sunnyvale and Union City, California, and Sydney, Australia, for future development of approximately 450,000 square feet in the aggregate. We maintain additional leased offices throughout the world, predominantly used as sales and support offices, and leased data center spaces throughout the world operated under co-location arrangements. We believe that our existing properties 45 Table of Contents are sufficient and suitable to meet our current needs. We intend to expand our facilities, develop unoccupied space, or add new facilities to support our future growth and enter new product markets, and we believe that suitable additional or alternative space will be available or can be developed as needed to accommodate ongoing operations and any such growth. However, we expect to incur additional operating expenses and capital expenditures in connection with such new or expanded facilities. For information regarding the geographical location of our property and equipment, refer to Note 16 to our consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K.