Leases (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Consolidated Balance Sheet Information Related to Leases


(in thousands)			December 31,
Presentation and Classification:			2023		2022
Operating	Current	Prepaid expenses and other current assets	$	75	$	121
Operating	Non-current	Other assets	91,725		93,057
Finance	Non-current	Property and equipment, net(1)	82,803		66,704
Total right-of-use assets			$	174,603	$	159,882

Operating	Current	Accrued expenses and other current liabilities	$	15,979	$	20,741
Finance	Current	Current maturities of long-term debt	33,934		34,219
Operating	Non-current	Other liabilities	84,695		85,249
Finance	Non-current	Long-term debt	53,227		36,424
Total lease liabilities			$	187,835	$	176,633

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(1) Finance right-of-use assets are recorded net of accumulated depreciation of approximately $60 million and $61 million as of December 31, 2023 and 2022, respectively.

Schedule of Lease Cost


	Years Ended December 31,
(in thousands)	2023		2022		2021
Operating lease cost	$	31,357	$	33,574	$	37,817
Finance lease cost:
Amortization of right-of-use assets	23,922		19,539		18,407
Interest on lease liabilities	3,768		2,662		1,973
Variable lease costs	46,380		62,316		51,156
Total lease cost	$	105,427	$	118,091	$	109,353

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	$	—

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(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

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(1)Includes both continuing and discontinued operations consistent with the presentation on the Consolidated Statements of Cash Flows.

Schedule of Operating and Finance Lease Weighted Average Lease Term and Discount Rate


	December 31,
	2023		2022
Weighted-average remaining lease term (years):
Operating leases	5.6		5.8
Finance leases	3.1		2.9
Weighted-average discount rate:
Operating leases	6.1	%	5.9	%
Finance leases	5.8	%	5.6	%

Schedule of Operating and Finance Lease, Liability, Maturity


	December 31, 2023
(in thousands)	Operating Leases		Finance Leases
2024	$	19,296	$	34,592
2025	26,100		31,152
2026	21,170		20,426
2027	16,698		10,510
2028	11,854		504
Thereafter	28,426		—
Total lease payments (including interest)	$	123,544	$	97,184
Less interest	22,870		10,023
Total	$	100,674	$	87,161