Fortrea Holdings Inc. 10-K

ITEM 2. PROPERTIES Our Company's corporate headquarters are located in Durham, North Carolina, and include facilities that are both owned and leased. As of December 31, 2023, we had 73 operating facilities located in 39 countries. Other than the facility located in Leeds, U.K. used by the clinical pharmacology business within our Clinical Service segment, which we own, we lease all of our facilities. Most of our facilities consist solely of office space. We lease approximately 1,100,000 square feet of general office and pharmacology clinic space with lease expirations through 2030. Our most significant leases are located in India, the United States, Germany, Spain, and the United Kingdom. The table below summarizes certain information as to principal operating and administrative facilities as of December 31, 2023. 46 Table of Contents Location Square Footage Nature of Occupancy Leeds, United Kingdom 68,285 Owned Bangalore, India 160,294 Leased Dallas, United States 58,806 Leased Daytona Beach, United States 163,410 Leased Durham, United States 39,822 Leased Lake Mary, United States 39,259 Leased Madison, United States 48,609 Leased Tokyo, Japan 25,327 Leased Pune, India 41,229 Leased Shanghai, China 28,000 Leased All of our primary facilities have been built or improved for the purpose of providing clinical development services. We believe that these existing facilities and plans for expansion are suitable and adequate and will provide sufficient capacity for our currently foreseeable level of operations. We believe that if it were unable to renew a lease or if a lease were to be terminated on any of the facilities it presently leases, we could find alternate space at competitive market rates and readily relocate its operations to such new locations without material disruption to its operations.