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The following is an excerpt from a 10-K SEC Filing, filed by CORINTHIAN COLLEGES INC on 9/13/2005.
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CORINTHIAN COLLEGES INC - 10-K - 20050913 - PROPERTIES

ITEM 2. PROPERTIES

 

Our corporate office is located in Santa Ana, California and our 128 campuses and 14 training centers, as of June 30, 2005, are located in 24 states and 7 Canadian provinces. Each campus provides our students with lecture halls, instructional labs, libraries, Internet access and other facilities.

 

We actively monitor the capacity of our facilities and the expected future capacity of our facilities required to accommodate campus growth initiatives. From the beginning of fiscal 2001 through fiscal 2005, approximately 19% of the campuses have been relocated and an additional 69% of total campuses have been either expanded or remodeled. The following table reflects the number of campuses added, closed or combined, and the number of campuses that have been relocated, enlarged or remodeled in each of the last five fiscal years ended:

 

     2001

   2002

   2003

   2004

   2005

Opened

                        

Acquired

   9    3    4    72    1

Branched

   4    4    6    10    5

Closed or combined

   1    2    0    5    12

Total campuses/training centers at year end

   56    61    71    148    142

Relocated

   3    6    3    5    10

Enlarged or remodeled

   9    10    17    30    32

 

All but three of our facilities are leased. In addition, we lease our headquarters offices. Most of our leases have primary terms between 5 and 10 years with options to extend the lease, at our election.

 

Square footage of our schools and colleges varies significantly based upon the type of programs offered and the market being served. Please see the section entitled “Programs of Study” in Item 1, “Business”, for square footage by location.

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