Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2021

ADT INC.

(PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

(in thousands)


	December 31, 2021		December 31, 2020
Assets
Current assets:
Cash and cash equivalents	$	1,947	$	139,092

Total current assets	1,947		139,092
Investment in subsidiaries and other assets	3,850,198		3,472,397

Total assets	$	3,852,145	$	3,611,489

Liabilities and stockholders' equity
Current liabilities:
Dividends payable and other current liabilities	$	47,482	$	34,084
Total current liabilities	47,482		34,084
Long-term debt	527,098		518,335
Other liabilities	28,846		19,734
Total liabilities	603,426		572,153
Total stockholders' equity	3,248,719		3,039,336
Total liabilities and stockholders' equity	$	3,852,145	$	3,611,489

The accompanying notes are an integral part of these condensed financial statements

ADT INC.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(in thousands, except per share data)


	Years Ended December 31,
	2021		2020		2019
Selling, general, and administrative expenses	$	117	$	807	$	477
Merger, restructuring, integration, and other	(1,444)		4,532		130
Operating income (loss)	(1,327)		5,339		607
Interest expense, net	(8,743)		(8,342)		(211)
Equity in net loss of subsidiaries	(333,404)		(618,512)		(423,332)
Net income (loss)	(340,820)		(632,193)		(424,150)
Other comprehensive income (loss), net of tax	49,642		(60,239)		13,403
Comprehensive income (loss)	$	(291,178)	$	(692,432)	$	(410,747)

Net income (loss) per share - basic:
Common stock	$	(0.41)	$	(0.82)	$	(0.57)
Class B common stock	$	(0.41)	$	(0.72)	$	—

Weighted-average shares outstanding - basic:
Common stock	770,620		760,483		747,238
Class B common stock	54,745		15,855		—

Net income (loss) per share - diluted:
Common stock	$	(0.41)	$	(0.82)	$	(0.57)
Class B common stock	$	(0.41)	$	(0.74)	$	—

Weighted-average shares outstanding - diluted:
Common stock	770,620		760,483		747,238
Class B common stock	54,745		17,944		—

The accompanying notes are an integral part of these condensed financial statements

ADT INC.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

(in thousands)


	Years Ended December 31,
	2021		2020		2019
Cash flows from operating activities:
Net income (loss)	$	(340,820)	$	(632,193)	$	(424,150)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Equity in net loss of subsidiaries	333,404		618,512		423,332

Other, net	24,391		30,687		39,910
Net cash provided by (used in) operating activities	16,975		17,006		39,092
Cash flows from investing activities:
Contributions to subsidiaries	(40,000)		(275,000)		—
Distributions from subsidiaries	8,700		260,852		167,203

Acquisition of businesses	—		(201,453)		—

Other investing, net	—		750		(750)
Net cash provided by (used in) investing activities	(31,300)		(214,851)		166,453
Cash flows from financing activities:
Proceeds from issuance of common stock, net of related expenses	—		447,811		—
Proceeds from long-term borrowings	—		—		509,460

Dividends on common stock	(116,348)		(109,328)		(564,767)
Repurchases of common stock	—		(4)		(149,868)
Other financing, net	(6,472)		(1,896)		(24)
Net cash provided by (used in) financing activities	(122,820)		336,583		(205,199)



Cash and cash equivalents and restricted cash and restricted cash equivalents:
Net increase (decrease) during the period	(137,145)		138,738		346
Beginning balance	139,092		354		8
Ending balance	$	1,947	$	139,092	$	354

Supplementary cash flow information:


Issuance of shares in lieu of cash dividends	$	4	$	15	$	67,767
Issuance of shares for acquisition of business	$	528,503	$	113,841	$	—