UNIVERSAL ELECTRONICS INC
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
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Item 2. PROPERTIES
Our global headquarters is located in Scottsdale, Arizona. We utilize the following facilities:
| Location | Purpose or Use | SquareFeet | Status |
|---|---|---|---|
| Scottsdale, Arizona | Corporate headquarters, engineering, research and development | 25,106 | Leased, expires February 27, 2027 |
| Bangalore, India | Engineering, research and development | 21,326 | Leased, expires July 31, 2024 |
| Carlsbad, California | Engineering, research and development | 30,758 | Leased, expires December 31, 2027 |
| Plymouth, Minnesota | Engineering, research and development | 5,275 | Leased, expires March 31, 2025 |
| Poway, California | Engineering, research and development | 7,891 | Leased, expires December 31, 2024 |
| Santa Ana, California | Engineering, research and development | 18,420 | Leased, expires November 30, 2027 |
| Suzhou, PRC | Engineering, research and development | 5,705 | Leased, expires December 31, 2025 |
| Hong Kong, PRC | Asian headquarters | 6,550 | Leased, expires July 31, 2025 |
| Enschede, Netherlands | European headquarters and call center | 19,407 | Leased, expires February 28, 2029 |
| Guangzhou, PRC | Service center | 26,850 | Leased, expires April 14, 2026 |
| Hai Duong, Vietnam | Manufacturing facility | 124,776 | Leased, expires December 1, 2034 |
| Manaus, Brazil | Manufacturing facility | 56,120 | Leased, expires August 19, 2025 |
| Monterrey, Mexico | Manufacturing facility | 101,571 | Leased, expires April 30, 2024 |
| Monterrey, Mexico | Manufacturing facility | 61,296 | Leased, expires April 15, 2029 |
| Monterrey, Mexico | Storage facility | 145,185 | Leased, expires July 29, 2025 |
| Yangzhou, PRC (1) | Manufacturing facility | 1,247,688 | Land leased, expires July 31, 2055 |
| Yangzhou, PRC | Manufacturing facility | 77,888 | Leased, expires October 31, 2025 |
(1)Private ownership of land in mainland PRC is not allowed. All land in the PRC is owned by the government and cannot be sold to any individual or entity. These facilities were developed on land which we lease from the PRC government.
In addition to the facilities listed above, we lease space in various international locations, primarily for use as sales offices.
Upon expiration of our facilities leases, we believe we will obtain lease agreements under similar terms; however, there can be no assurance that we will receive similar terms or that any offer to renew will be accepted.
We currently believe that our manufacturing, engineering, and research and development facilities are suitable and adequate for our continued needs. We will continue to assess the suitability and adequacy of these facilities to meet both our current needs, as well as our expected future requirements.
See "ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA — Notes to Consolidated Financial Statements — Note 8" for additional information regarding our obligations under leases.
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