Equipment Stores
−Removed: As of January 31, 2024, we operated 148 full service agricultural and construction equipment stores globally in the following locations:
+Added: As of January 31, 2025, we operated 148 full service agricultural and construction equipment stores in the following locations:
Agriculture Segment Construction Segment Europe Segment Australia Segment Total
18 unchanged sentences
Ukraine — — 10 — 10
−Removed: Australian States
New South Wales — — — 4 4
5 unchanged sentences
Many of our lease agreements include fair market value purchase options, rights of first refusal, lease term extension options, or month-to-month or year-to-year automatic renewal provisions at the conclusion of the original lease period.
−Removed: A majority of the leases provide for fixed monthly rental payments and require us to pay the real estate taxes on the properties for the lease periods.
+Added: A majority of the leases provide for fixed monthly rental payments and require us to pay the real estate taxes on the
+Added: properties for the lease periods.
We are generally responsible for utilities and maintenance of the leased premises.
4 unchanged sentences
We currently own the store facilities for 73 U.S.
−Removed: dealership locations, six European dealership locations and one Australian dealership location.
−Removed: We have incurred debt financing and have been granted mortgages on most of those owned facilities in connection with incurring such debt financing.
+Added: dealership locations, six European dealership locations and two Australian dealership locations.
+Added: In acquiring most of these owned facilities, we have incurred debt financing and were granted mortgages in favor of the relevant lender.
The remainder of our U.S.
3 unchanged sentences
If any environmental concerns exist, we generally require that such concerns be addressed prior to acquisition of the dealership real estate.
−Removed: We currently lease and occupy approximately 48,000 square feet in West Fargo, North Dakota for our headquarters and this lease expires on January 31, 2028.
+Added: We currently lease and occupy approximately 48,000 square feet in West Fargo, North Dakota for our headquarters, which expires on January 31, 2028.
+Added: We have signed a purchase agreement to purchase the facility at or before the termination of the lease.
We continually review our location needs, including the adequacy of our headquarters space, to ensure our space is sufficient to support our operations.
1 unchanged sentence
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.