Keurig Dr Pepper Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
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Item 2. Properties
We have two global corporate headquarters, located in Burlington, Massachusetts and Frisco, Texas, both of which are leased.
The following table summarizes our principal manufacturing plants and principal warehouse and distribution facilities by geography and reportable segment as of December 31, 2023:
| U.S. Refreshment Beverages | U.S. Coffee | International | Total | |||||
|---|---|---|---|---|---|---|---|---|
| Owned | Leased | Owned | Leased | Owned | Leased | Owned | Leased | |
| United States | ||||||||
| Production facilities | 6 | 12 | 1 | 5 | — | — | 7 | 17 |
| Warehouse and distribution facilities | 27 | 61 | — | 8 | — | — | 27 | 69 |
| International | ||||||||
| Production facilities | 1 | — | — | — | 3 | 2 | 4 | 2 |
| Warehouse and distribution facilities | — | — | — | — | 5 | 63 | 5 | 63 |
| Total | 34 | 73 | 1 | 13 | 8 | 65 | 43 | 151 |
We believe our facilities are well-maintained and adequate, that they are being appropriately utilized, except for our next-generation coffee production facility in Spartanburg, South Carolina, and that they have sufficient production capacity for their present intended purposes. The extent of utilization of such facilities varies based on seasonal demand for our products and the status of our investments to maintain or upgrade various technologies or equipment within such facilities. As of December 31, 2023, the facility that we are establishing in Spartanburg, South Carolina was significantly underutilized due to delays in the manufacture and installation of certain manufacturing lines, as well as delays exacerbated by the COVID-19 pandemic.
We periodically review our space requirements, and we look to consolidate and dispose or sublet facilities we no longer need as appropriate.
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