Company: CNDT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001677703-25-000029
Chunk: 56

Company: CONDUENT Inc
Filing Date: 2025-02-19
Form: 10-K
Item: Item 2
Chunk 56
---
ITEM 2. PROPERTIES

We lease and own numerous facilities worldwide with larger concentrations of space in Kentucky, New Jersey, Texas, Guatemala, India, the Philippines, Jamaica and the Netherlands. Our owned and leased facilities house general offices, sales offices, service locations, call centers and distribution centers. The size of our property portfolio as of December 31, 2024 was approximately 4.6 million square feet at an annual operating cost (lease costs and expenses) of approximately $118 million and was composed of 158 leased properties and 3 owned properties. We believe that our current facilities are suitable and adequate for our current business. Because of the interrelation of our business segments, each of the segments uses substantially all of these properties at least in part.

We have aggressively pursued portfolio reduction opportunities through lease terminations, subleases and consolidation of properties. Partially offsetting these reductions, in 2024, we executed strategic portfolio expansions in the Philippines and Guatemala. As a result, the portfolio net reduction was approximately 0.3 million square feet during the year ended December 31, 2024. We will continue efforts to optimize our workforce location strategy.