MERCURY SYSTEMS INC 10-K

ITEM 2. PROPERTIES The following table sets forth our significant properties as of July 3, 2020: Location Size in Sq. Feet Commitment Andover, MA 145,262 Leased, expiring 2032 Phoenix, AZ 125,756 Leased, expiring 2031 Hudson, NH 121,553 Leased, expiring 2024 Oxnard, CA 72,673 Leased, expiring 2025 Fremont, CA 53,713 Leased, expiring 2023 Cypress, CA 42,770 Leased, expiring 2028 Alpharetta, GA 35,005 Leased, expiring 2028 Chantilly, VA 32,789 Leased, expiring 2025 Mesa, AZ 31,820 Leased, expiring 2022 Geneva, CH 27,287 Leased, expiring 2027 Cypress, CA 25,990 Subleased, expiring 2020 We actively manage our facilities and are in pursuit of lease extensions or alternative locations for facilities with expiration dates in 2020 and 2021. In addition, we lease a number of smaller offices around the world primarily for sales. Effective July 1, 2019, the Company adopted ASC 842, Leases , (“ASC 842”). We adopted ASC 842 using the optional transition method and, as a result, there have been no reclassifications of prior comparable periods due to this adoption. See 30 Table of Contents Note B and Note J to the consolidated financial statements for more information regarding our obligations under leases and the adoption of this standard.