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DIVESTITURES | 6 Months Ended
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Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract] |
DIVESTITURES | DIVESTITURES ADT Solar Exit As discussed in Note 1 “Description of Business and Summary of Significant Accounting Policies,” the Solar Business is presented as a discontinued operation in the Company’s Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets for all periods presented. Exit charges incurred and paid were not material in 2025. During the six months ended June 30, 2024, the Company paid approximately $18 million associated with the ADT Solar Exit primarily related to employee separation and other restructuring costs. During the three and six months ended June 30, 2024, respectively, the Company incurred aggregate exit charges of $13 million and $89 million, which have been recognized within income (loss) from discontinued operations, net of tax related to (i) $1 million and $36 million, associated with the write-down and disposition of inventory and asset impairments, (ii) $10 million and $29 million, associated with the disposition of the existing installation pipeline, (iii) $1 million and $12 million, associated with employee separation costs, and (iv) $2 million and $12 million, associated with contract termination and other charges. The following reconciliations represent the major classes of line items of the Solar Business presented within discontinued operations. Cash flows related to discontinued operations were not significant during the six months ended June 30, 2025 and June 30, 2024. Balance Sheet Information There were no material assets of discontinued operations as of June 30, 2025 and December 31, 2024.
(in thousands) |  | June 30, 2025 |  | December 31, 2024
Current maturities of long-term debt |  | $ | — |  |  | $ | 22 |
Accounts payable |  | 5,904 |  |  | 6,953 |
Accrued expenses and other current liabilities |  | 21,368 |  |  | 24,788 |
Total current liabilities of discontinued operations |  | 27,272 |  |  | 31,763 |
Long-term debt |  | — |  |  | 32 |
Other liabilities |  | 13,981 |  |  | 15,857 |
Total liabilities of discontinued operations |  | $ | 41,253 |  |  | $ | 47,652 |
Statements of Operations Information
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  | $ | — |  |  | $ | 1,656 |  |  | $ | — |  |  | $ | 21,295 |
Cost of revenue |  | 835 |  |  | 19,837 |  |  | 2,588 |  |  | 61,359 |
Selling, general, and administrative expenses |  | 2,716 |  |  | 16,499 |  |  | 3,957 |  |  | 89,918 |
Depreciation and intangible asset amortization |  | — |  |  | 466 |  |  | 18 |  |  | 1,817 |
Other (income) and expense items |  | — |  |  | (8) |  |  | 42 |  |  | 1,473 |
Income (loss) from discontinued operations before income taxes |  | (3,551) |  |  | (35,138) |  |  | (6,605) |  |  | (133,272) |
Income tax benefit (expense) |  | 917 |  |  | 9,601 |  |  | 1,740 |  |  | 35,376 |
Income (loss) from discontinued operations, net of tax |  | $ | (2,634) |  |  | $ | (25,537) |  |  | $ | (4,865) |  |  | $ | (97,896) |
Commercial Divestiture During the periods presented, activity reflected in discontinued operations, net of tax, relating to the Commercial Divestiture was not material. In connection with the Commercial Divestiture, the Company entered into a Transition Services Agreement (the “Commercial TSA”). During the three and six months ended June 30, 2025, Commercial TSA income was not material. During the three and six months ended June 30, 2024, the Company recognized $11 million and $22 million, respectively, of Commercial TSA income, which is reflected in other income (expense) within continuing operations.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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