−Removed: Our headquarters are located in Wilmington, North Carolina where, in addition to the square footage noted below, we occupy facilities encompassing approximately 57,000 square feet.
−Removed: SimpleNexus leases approximately 34,000 square feet of offices in Lehi, Utah which is being used as SimpleNexus' principal office space.
−Removed: We have additional domestic offices in Salt Lake City, Utah and Macon, Georgia.
−Removed: We also have international offices in London, Sydney, Melbourne, Toronto and Tokyo.
+Added: Our headquarters are located in Wilmington, North Carolina where we lease several facilities encompassing approximately 237,000 square feet plus a 648-space parking deck.
+Added: The leases relating to approximately 180,000 square feet of those facilities plus an adjacent parking deck expire in October 2037, each with options to extend and a purchase option that expires if not exercised on or before November 30, 2026.
+Added: We have additional domestic offices in the U.S.
+Added: and international offices in the United Kingdom, Australia, Canada, Japan, Spain and France.
All of our offices are leased, and we do not own any real property.
−Removed: These leases range in expiration from June 2023 to July 2028.
−Removed: Subsequent to January 31, 2022, we entered into office leases in Madrid and Paris.
−Removed: In November 2020, we entered into a new lease agreement with a lessor for our primary headquarters property in Wilmington, North Carolina.
−Removed: As a result of a purchase option in the lease, the Company is deemed to have continuing involvement of our headquarters and accordingly, is considered for accounting purposes to be the owner.
−Removed: As such, we have excluded the square footage of approximately 90,000 square feet from the total leased space disclosed above.
−Removed: The Company also entered into an agreement for a parking deck in January 2021 which was completed in September 2021, in addition to the existing headquarters property.
−Removed: The Company is also deemed to be the owner of the 648-space parking deck for accounting purposes.
−Removed: In April 2021, the Company entered into a new lease agreement for the construction of an additional, approximately 90,000 square feet, office building that is on the property of our existing headquarters.
−Removed: Due to the Company also being deemed to be the owner of the additional building for accounting purposes, the costs associated with the construction of the building will be capitalized as construction in progress with a corresponding construction liability throughout construction which is estimated to be approximately $24.0 million.
−Removed: The costs of the construction in progress and corresponding construction liability are included in property and equipment, net and construction liability, noncurrent on the consolidated balance sheets, respectively.
−Removed: Upon completion of the building, the construction liability will be recorded as a financing obligation.
−Removed: Upon expiration of the purchase options in the leases, the leases will be analyzed for applicable lease accounting.
−Removed: If the purchase options are not exercised, the leases will expire in 2037.
−Removed: See Note 15 "Commitments and Contingencies" of the notes to our consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for the full description.
−Removed: We believe our facilities are adequate for our current needs, but we may further expand as our employee base grows.
+Added: We believe our facilities are adequate for our current needs.
We believe that we will be able to obtain additional space on commercially reasonable terms.
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.