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Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of Cash and Cash Equivalents | The following table reconciles the amounts below reported in the Consolidated Balance Sheets to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Cash and cash equivalents | $ | 14,621 |  |  | $ | 257,223 |  |  | $ | 24,453 |
Restricted cash and restricted cash equivalents | 115,329 |  |  | 116,357 |  |  | 8,824 |
Ending balance | $ | 129,950 |  |  | $ | 373,580 |  |  | $ | 33,277 |
Schedule of Restricted Cash and Cash Equivalents | The following table reconciles the amounts below reported in the Consolidated Balance Sheets to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Cash and cash equivalents | $ | 14,621 |  |  | $ | 257,223 |  |  | $ | 24,453 |
Restricted cash and restricted cash equivalents | 115,329 |  |  | 116,357 |  |  | 8,824 |
Ending balance | $ | 129,950 |  |  | $ | 373,580 |  |  | $ | 33,277 |
Supplementary Cash Flow Information | The following table summarizes supplementary cash flow information and material non-cash investing and financing transactions, excluding leases (refer to Note 15 “Leases”):
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Interest paid, net of interest income received(1) | $ | 522,775 |  |  | $ | 470,947 |  |  | $ | 512,628 |
Payments (refunds) on income taxes, net | $ | 60,296 |  |  | $ | 22,654 |  |  | $ | 1,877 |
Issuance of shares for acquisition of businesses(2) | $ | — |  |  | $ | 55,485 |  |  | $ | 528,503 |
Contingent forward purchase contract(3) | $ | — |  |  | $ | 41,938 |  |  | $ | — |
___________________ (1)Includes finance leases and interest rate swaps. Refer to Note 9 “Derivative Financial Instruments.” (2)2021 relates to the ADT Solar Acquisition and 2022 includes $40 million related to the Delayed Shares (as defined and discussed in Note 4 “Acquisitions”) as a result of the ADT Solar Acquisition. (3)During 2022, the Company recorded a reduction to additional paid in capital as a result of the contingent forward purchase contract in connection with the Tender Offer (as defined and discussed in Note 11 “Equity”).
|  | Years Ended December 31,
(in thousands) |  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating leases: |  |  |  |  |  |
Operating cash flows |  | $ | 42,883 |  |  | $ | 47,708 |  |  | $ | 50,721 |
Finance Leases: |  |  |  |  |  |
Operating cash flows |  | $ | 4,940 |  |  | $ | 3,680 |  |  | $ | 2,823 |
Financing cash flows |  | $ | 43,733 |  |  | $ | 44,978 |  |  | $ | 32,123 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |
Operating leases |  | $ | 41,338 |  |  | $ | 49,193 |  |  | $ | 21,203 |
Finance leases |  | $ | 79,273 |  |  | $ | 48,439 |  |  | $ | 46,920 |
__________________ (1)Includes both continuing and discontinued operations consistent with the presentation on the Consolidated Statements of Cash Flows.
Schedule of Prepaid Expenses and Other Current Assets | Prepaid Expenses and Other Current Assets
| December 31,
(in thousands) | 2023 |  | 2022
Prepaid expenses | $ | 49,734 |  |  | $ | 26,142 |
Contract assets (see Note 2 “Revenue and Receivables”) | 15,365 |  |  | 32,495 |
Fair value of interest rate swaps (see Note 9 “Derivative Financial Instruments”) | 74,974 |  |  | 78,110 |
Other receivables(1) | 28,835 |  |  | 121,225 |
Other current assets | 85,257 |  |  | 48,631 |
Prepaid expenses and other current assets | $ | 254,165 |  |  | $ | 306,603 |
___________________ (1)As of December 31, 2023 and 2022, the Company recorded a liability of $15 million and $88 million, respectively, which is reflected in accrued expenses and other current liabilities and which relates to certain loans provided to customers within the Solar business that the Company may be required to repurchase from third party lenders. Included in other receivables is the amount that the Company expects to recover if permission to operate is achieved in the event the third party lenders do require the Company to repurchase such loans.
Schedule of Property, Plant and Equipment and Depreciation Expense | Property and equipment, net, is recorded at historical cost less accumulated depreciation, which is calculated using the straight-line method over the estimated useful lives of the related assets. Depreciation expense is reflected in depreciation and intangible asset amortization. Repairs and maintenance expenditures are expensed when incurred. Useful Lives:
Buildings and related improvements | Up to 40 years
Leasehold improvements | Lesser of remaining term of the lease or economic useful life
Capitalized software | 3 to 10 years
Machinery, equipment, and other | Up to 10 years
Net Carrying Amount:
| December 31, |  |
(in thousands) | 2023 |  | 2022 |  |
Land | $ | 10,313 |  |  | $ | 12,272 |  |  |
Buildings and leasehold improvements | 95,652 |  |  | 94,899 |  |  |
Capitalized software | 524,088 |  |  | 504,241 |  |  |
Machinery, equipment, and other | 168,343 |  |  | 170,622 |  |  |
Construction in progress | 34,302 |  |  | 12,571 |  |  |
Finance leases | 142,441 |  |  | 127,226 |  |  |
Accumulated depreciation | (691,969) |  |  | (615,640) |  |  |
Property and equipment, net | $ | 283,170 |  |  | $ | 306,191 |  |  |
Depreciation Expense:
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Depreciation expense | $ | 191,904 |  |  | $ | 173,013 |  |  | $ | 165,392 |
Schedule of Subscriber System Assets, Net | Subscriber system assets represent capitalized equipment and installation costs incurred in connection with transactions in which the Company retains ownership of the security system and are reflected in the Consolidated Balance Sheets as follows:
| December 31,
(in thousands) | 2023 |  | 2022
Gross carrying amount | $ | 6,404,479 |  |  | $ | 5,981,008 |
Accumulated depreciation | (3,398,543) |  |  | (3,062,468) |
Subscriber system assets, net | $ | 3,005,936 |  |  | $ | 2,918,540 |
Schedule of Subscriber System Depreciation and Amortization Cost | Depreciation of subscriber system assets and amortization of deferred subscriber acquisition costs are reflected in depreciation and intangible asset amortization and selling, general, and administrative expenses, respectively, as follows:
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Depreciation of subscriber system assets | $ | 545,041 |  |  | $ | 531,013 |  |  | $ | 488,557 |
Amortization of deferred subscriber acquisition costs | $ | 188,222 |  |  | $ | 154,186 |  |  | $ | 118,162 |
Schedule of Accrued Liabilities |
| December 31,
(in thousands) | 2023 |  | 2022
Accrued interest | $ | 111,204 |  |  | $ | 156,495 |
Payroll-related accruals | 118,495 |  |  | 139,709 |
Operating lease liabilities (see Note 15 “Leases”) | 15,979 |  |  | 20,741 |
Fair value of interest rate swaps (see Note 9 “Derivative Financial Instruments”) | 5,312 |  |  | — |
Opportunity Fund (see Note 11 “Equity”) | 93,950 |  |  | 100,802 |
Other accrued liabilities | 256,375 |  |  | 358,992 |
Accrued expenses and other current liabilities | $ | 601,315 |  |  | $ | 776,739 |
Schedule of Radio Conversion Costs and Revenue | Radio conversion costs and radio conversion revenue are reflected in selling, general, and administrative expenses and monitoring and related services revenue, respectively, as follows:
| Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Radio conversion costs | $ | 1,968 |  |  | $ | 29,766 |  |  | $ | 240,902 |
Radio conversion revenue | $ | 6,664 |  |  | $ | 28,058 |  |  | $ | 39,100 |
Schedule of Carrying Amount and Fair Value of Retail Installment Contract Receivables |
| December 31,
| 2023 |  | 2022
(in thousands) | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Retail installment contract receivables, net | $ | 673,635 |  |  | $ | 487,685 |  |  | $ | 531,516 |  |  | $ | 385,114 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments and Securities |
|  | December 31,
|  | 2023 |  | 2022
(in thousands) |  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
Long-term debt instruments subject to fair value disclosures(1) |  | $ | 7,756,800 |  |  | $ | 7,732,159 |  |  | $ | 9,733,700 |  |  | $ | 9,312,932 |
________________ (1) Excludes finance leases.

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