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Condensed Financial Information of Registrant (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of Registrant | ADT INC. (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS (in thousands)
| December 31,
| 2023 |  | 2022
Assets |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 1,118 |  |  | $ | 14,639 |
Total current assets | 1,118 |  |  | 14,639 |
Investment in subsidiaries and other assets | 4,463,543 |  |  | 4,036,420 |
Total assets | $ | 4,464,661 |  |  | $ | 4,051,059 |
Liabilities and stockholders' equity |  |  |
Current liabilities: |  |  |
Dividends payable and other current liabilities | $ | 33,047 |  |  | $ | 34,424 |
Total current liabilities | 33,047 |  |  | 34,424 |
Long-term debt | 545,557 |  |  | 536,495 |
Other liabilities | 97,411 |  |  | 86,992 |
Total liabilities | 676,015 |  |  | 657,911 |
Total stockholders' equity | 3,788,646 |  |  | 3,393,148 |
Total liabilities and stockholders' equity | $ | 4,464,661 |  |  | $ | 4,051,059 |
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,
| 2023 |  | 2022 |  | 2021
Selling, general, and administrative expenses | $ | 520 |  |  | $ | 2,583 |  |  | $ | 117 |
Merger, restructuring, integration, and other | (1,993) |  |  | (6,011) |  |  | (1,444) |
Operating income (loss) | 1,473 |  |  | 3,428 |  |  | 1,327 |
Interest expense, net | (8,984) |  |  | (8,086) |  |  | (8,743) |
Other income (expense) | — |  |  | (63,394) |  |  | — |
Equity in net income (loss) of subsidiaries | 470,520 |  |  | 200,715 |  |  | (333,404) |
Net income (loss) | 463,009 |  |  | 132,663 |  |  | (340,820) |
Other comprehensive income (loss), net of tax | 31,038 |  |  | 21,773 |  |  | 49,642 |
Comprehensive income (loss) | $ | 494,047 |  |  | $ | 154,436 |  |  | $ | (291,178) |
Net income (loss) per share - basic: |  |  |  |  |
Common stock | $ | 0.51 |  |  | $ | 0.15 |  |  | $ | (0.41) |
Class B common stock | $ | 0.51 |  |  | $ | 0.15 |  |  | $ | (0.41) |
Weighted-average shares outstanding - basic: |  |  |  |  |
Common stock | 856,843 |  |  | 848,465 |  |  | 770,620 |
Class B common stock | 54,745 |  |  | 54,745 |  |  | 54,745 |
Net income (loss) per share - diluted: |  |  |  |  |
Common stock | $ | 0.51 |  |  | $ | 0.15 |  |  | $ | (0.41) |
Class B common stock | $ | 0.51 |  |  | $ | 0.15 |  |  | $ | (0.41) |
Weighted-average shares outstanding - diluted: |  |  |  |  |
Common stock | 856,843 |  |  | 848,465 |  |  | 770,620 |
Class B common stock | 54,745 |  |  | 54,745 |  |  | 54,745 |
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,
| 2023 |  | 2022 |  | 2021
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | 463,009 |  |  | $ | 132,663 |  |  | $ | (340,820) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |
Equity in net (income) loss of subsidiaries | (470,520) |  |  | (200,715) |  |  | 333,404 |
Change in fair value of other financial instruments | — |  |  | 63,396 |  |  | — |
Other, net | 28,757 |  |  | 49,470 |  |  | 24,391 |
Net cash provided by (used in) operating activities | 21,246 |  |  | 44,814 |  |  | 16,975 |
Cash flows from investing activities: |  |  |  |  |
Contributions to subsidiaries | — |  |  | — |  |  | (40,000) |
Distributions from subsidiaries | 108,783 |  |  | 118,200 |  |  | 8,700 |
Net cash provided by (used in) investing activities | 108,783 |  |  | 118,200 |  |  | (31,300) |
Cash flows from financing activities: |  |  |  |  |
Proceeds from issuance of common stock, net of expenses | — |  |  | 1,180,000 |  |  | — |
Dividends on common stock | (128,587) |  |  | (127,125) |  |  | (116,348) |
Repurchases of common stock | — |  |  | (1,200,000) |  |  | — |
Other financing, net | (14,963) |  |  | (3,197) |  |  | (6,472) |
Net cash provided by (used in) financing activities | (143,550) |  |  | (150,322) |  |  | (122,820) |
Cash and cash equivalents and restricted cash and restricted cash equivalents: |  |  |  |  |
Net increase (decrease) during the period | (13,521) |  |  | 12,692 |  |  | (137,145) |
Beginning balance | 14,639 |  |  | 1,947 |  |  | 139,092 |
Ending balance | $ | 1,118 |  |  | $ | 14,639 |  |  | $ | 1,947 |
Supplementary cash flow information: |  |  |  |  |
Issuance of shares for acquisition of business | $ | — |  |  | $ | 55,485 |  |  | $ | 528,503 |

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
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