The verses of the song are 16 measures long. Each verse has 4 lines of lyrics, so if you do the math you’ll come to find that each line of the lyric will last 4 measures.
Hello there my old friend
Not so long ago it was ’til the end
We played outside in the pouring rain
On our way up the road we started over again
The chord progression for the verse is A, E, F#m, D and each chord gets a measure.