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Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The Company’s debt is comprised of the following (in thousands):
Interest PayableBalance as of December 31,
Debt DescriptionIssuedMaturity
Interest Rate(1)
20232022
First Lien Term Loan due 20269/23/20199/23/2026Term SOFR +2.75%Quarterly$— $2,730,269 
First Lien Term Loan B due 203010/13/202310/13/2030Term SOFR +2.50%Quarterly1,375,000 — 
Term Loan A Facility3/14/20233/14/2028Term SOFR +2.25%Quarterly625,625 — 
Second Lien Notes due 20281/28/20201/15/20286.250%1/15 and 7/151,300,000 1,300,000 
First Lien Notes due 20244/4/20194/15/20245.250%2/15 and 8/1599,999 750,000 
First Lien Notes due 20264/4/20194/15/20265.750%3/15 and 9/151,350,000 1,350,000 
First Lien Notes due 20278/20/20208/31/20273.375%6/15 and 12/151,000,000 1,000,000 
First Lien Notes due 20297/29/20218/1/20294.125%2/1 and 8/11,000,000 1,000,000 
ADT Notes due 20231/14/20136/15/20234.125%6/15 and 12/15— 700,000 
ADT Notes due 20325/2/20167/15/20324.875%1/15 and 7/15728,016 728,016 
ADT Notes due 20427/5/20127/15/20424.875%1/15 and 7/1521,896 21,896 
2020 Receivables Facility(2)
3/5/202011/20/2028VariousMonthly436,004 354,741 
Other debt(3)
751 2,446 
Total debt principal, excluding finance leases7,937,291 9,937,368 
Plus: Finance lease obligations(4)
87,161 70,643 
Less: Unamortized debt discount, net(15,005)(13,415)
Less: Unamortized deferred financing costs(39,620)(50,896)
Less: Unamortized purchase accounting fair value adjustment and other(125,866)(139,357)
Total debt7,843,961 9,804,343 
Less: Current maturities of long-term debt, net of unamortized debt discount(320,612)(857,624)
Long-term debt$7,523,349 $8,946,719 
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(1)Interest rate as of December 31, 2023. In June 2023, the Secured Overnight Financing Rate (“SOFR”) replaced the forward London Interbank Offered Rate (“LIBOR”) as the applicable benchmark rate for all applicable existing and future issuances of the Company’s debt instruments with a variable rate component. Interest on the 2020 Receivables Facility is primarily based on SOFR +0.95% and Cost of Funds (“COF”) +0.85%.
(2)Maturity date for the 2020 Receivables Facility represents the final maturity of date of current loans borrowed under the facility.
(3)Other debt primarily consists of vehicle loans at various interest rates and maturities.
(4)Refer to Note 15 “Leases” for additional information regarding the Company’s finance leases.
Schedule of Maturities of Long-term Debt
As of December 31, 2023, the aggregate annual maturities of debt, excluding finance leases, were as follows:
(in thousands)20242025202620272028ThereafterTotal
Debt principal$286,678 $113,375 $2,862,193 $1,107,818 $1,817,288 $1,749,939 $7,937,291