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LEASES | 6 Months Ended
--- | ---
Jun. 30, 2025
Leases [Abstract] |
LEASES | LEASES Company as Lessee As part of normal operations, the Company leases real estate, vehicles, and equipment primarily through its main operating entity and wholly-owned subsidiary, ADT LLC. Right-of-Use Assets and Lease Liabilities
(in thousands) |  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Presentation and Classification: |  |  |  |
Operating |  | Current |  | Prepaid expenses and other current assets |  | $ | 94 |  |  | $ | 80 |
Operating |  | Non-current |  | Other assets |  | 82,228 |  |  | 80,768 |
Finance |  | Non-current |  | Property and equipment, net(1) |  | 47,961 |  |  | 61,827 |
Total right-of-use assets |  | $ | 130,283 |  |  | $ | 142,675 |
Operating |  | Current |  | Accrued expenses and other current liabilities |  | $ | 17,101 |  |  | $ | 18,811 |
Finance |  | Current |  | Current maturities of long-term debt |  | 22,638 |  |  | 25,593 |
Operating |  | Non-current |  | Other liabilities |  | 81,214 |  |  | 77,884 |
Finance |  | Non-current |  | Long-term debt |  | 33,390 |  |  | 43,849 |
Total lease liabilities |  | $ | 154,343 |  |  | $ | 166,137 |
_________________ (1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $78 million and $66 million as of June 30, 2025 and December 31, 2024, respectively. Lease Cost
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | $ | 6,837 |  |  | $ | 6,709 |  |  | $ | 13,154 |  |  | $ | 13,578 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 5,485 |  |  | 5,719 |  |  | 10,852 |  |  | 10,108 |
Interest on lease liabilities |  | 834 |  |  | 1,322 |  |  | 1,764 |  |  | 2,405 |
Variable lease costs |  | 10,238 |  |  | 8,872 |  |  | 20,149 |  |  | 15,727 |
Total lease cost |  | $ | 23,394 |  |  | $ | 22,622 |  |  | $ | 45,919 |  |  | $ | 41,818 |
Lease Liabilities Arising from Obtaining Right-of-Use Assets(1)
|  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024
Operating leases |  | $ | 12,519 |  |  | $ | 8,930 |
Finance leases |  | $ | 1,444 |  |  | $ | 28,557 |
_________________ (1)Includes both continuing and discontinued operations, as applicable. Company as Lessor The Company is a lessor in certain Company-owned transactions as the Company has identified a lease component associated with the right-of-use of the security system and a non-lease component associated with the monitoring and related services. For transactions in which (i) the timing and pattern of transfer is the same for the lease and non-lease components and (ii) the lease component would be classified as an operating lease if accounted for separately, the Company applies the practical expedient to aggregate the lease and non-lease components and accounts for the combined transaction based upon its predominant characteristic, which is the non-lease component. The Company accounts for the combined component as a single performance obligation under the applicable revenue guidance and recognizes the underlying assets within subscriber system assets, net.
LEASES | LEASES Company as Lessee As part of normal operations, the Company leases real estate, vehicles, and equipment primarily through its main operating entity and wholly-owned subsidiary, ADT LLC. Right-of-Use Assets and Lease Liabilities
(in thousands) |  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Presentation and Classification: |  |  |  |
Operating |  | Current |  | Prepaid expenses and other current assets |  | $ | 94 |  |  | $ | 80 |
Operating |  | Non-current |  | Other assets |  | 82,228 |  |  | 80,768 |
Finance |  | Non-current |  | Property and equipment, net(1) |  | 47,961 |  |  | 61,827 |
Total right-of-use assets |  | $ | 130,283 |  |  | $ | 142,675 |
Operating |  | Current |  | Accrued expenses and other current liabilities |  | $ | 17,101 |  |  | $ | 18,811 |
Finance |  | Current |  | Current maturities of long-term debt |  | 22,638 |  |  | 25,593 |
Operating |  | Non-current |  | Other liabilities |  | 81,214 |  |  | 77,884 |
Finance |  | Non-current |  | Long-term debt |  | 33,390 |  |  | 43,849 |
Total lease liabilities |  | $ | 154,343 |  |  | $ | 166,137 |
_________________ (1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $78 million and $66 million as of June 30, 2025 and December 31, 2024, respectively. Lease Cost
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | $ | 6,837 |  |  | $ | 6,709 |  |  | $ | 13,154 |  |  | $ | 13,578 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 5,485 |  |  | 5,719 |  |  | 10,852 |  |  | 10,108 |
Interest on lease liabilities |  | 834 |  |  | 1,322 |  |  | 1,764 |  |  | 2,405 |
Variable lease costs |  | 10,238 |  |  | 8,872 |  |  | 20,149 |  |  | 15,727 |
Total lease cost |  | $ | 23,394 |  |  | $ | 22,622 |  |  | $ | 45,919 |  |  | $ | 41,818 |
Lease Liabilities Arising from Obtaining Right-of-Use Assets(1)
|  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024
Operating leases |  | $ | 12,519 |  |  | $ | 8,930 |
Finance leases |  | $ | 1,444 |  |  | $ | 28,557 |
_________________ (1)Includes both continuing and discontinued operations, as applicable. Company as Lessor The Company is a lessor in certain Company-owned transactions as the Company has identified a lease component associated with the right-of-use of the security system and a non-lease component associated with the monitoring and related services. For transactions in which (i) the timing and pattern of transfer is the same for the lease and non-lease components and (ii) the lease component would be classified as an operating lease if accounted for separately, the Company applies the practical expedient to aggregate the lease and non-lease components and accounts for the combined transaction based upon its predominant characteristic, which is the non-lease component. The Company accounts for the combined component as a single performance obligation under the applicable revenue guidance and recognizes the underlying assets within subscriber system assets, net.
LEASES | LEASES Company as Lessee As part of normal operations, the Company leases real estate, vehicles, and equipment primarily through its main operating entity and wholly-owned subsidiary, ADT LLC. Right-of-Use Assets and Lease Liabilities
(in thousands) |  |  |  |  |  | June 30, 2025 |  | December 31, 2024
Presentation and Classification: |  |  |  |
Operating |  | Current |  | Prepaid expenses and other current assets |  | $ | 94 |  |  | $ | 80 |
Operating |  | Non-current |  | Other assets |  | 82,228 |  |  | 80,768 |
Finance |  | Non-current |  | Property and equipment, net(1) |  | 47,961 |  |  | 61,827 |
Total right-of-use assets |  | $ | 130,283 |  |  | $ | 142,675 |
Operating |  | Current |  | Accrued expenses and other current liabilities |  | $ | 17,101 |  |  | $ | 18,811 |
Finance |  | Current |  | Current maturities of long-term debt |  | 22,638 |  |  | 25,593 |
Operating |  | Non-current |  | Other liabilities |  | 81,214 |  |  | 77,884 |
Finance |  | Non-current |  | Long-term debt |  | 33,390 |  |  | 43,849 |
Total lease liabilities |  | $ | 154,343 |  |  | $ | 166,137 |
_________________ (1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $78 million and $66 million as of June 30, 2025 and December 31, 2024, respectively. Lease Cost
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | $ | 6,837 |  |  | $ | 6,709 |  |  | $ | 13,154 |  |  | $ | 13,578 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 5,485 |  |  | 5,719 |  |  | 10,852 |  |  | 10,108 |
Interest on lease liabilities |  | 834 |  |  | 1,322 |  |  | 1,764 |  |  | 2,405 |
Variable lease costs |  | 10,238 |  |  | 8,872 |  |  | 20,149 |  |  | 15,727 |
Total lease cost |  | $ | 23,394 |  |  | $ | 22,622 |  |  | $ | 45,919 |  |  | $ | 41,818 |
Lease Liabilities Arising from Obtaining Right-of-Use Assets(1)
|  | Six Months Ended June 30,
(in thousands) |  | 2025 |  | 2024
Operating leases |  | $ | 12,519 |  |  | $ | 8,930 |
Finance leases |  | $ | 1,444 |  |  | $ | 28,557 |
_________________ (1)Includes both continuing and discontinued operations, as applicable. Company as Lessor The Company is a lessor in certain Company-owned transactions as the Company has identified a lease component associated with the right-of-use of the security system and a non-lease component associated with the monitoring and related services. For transactions in which (i) the timing and pattern of transfer is the same for the lease and non-lease components and (ii) the lease component would be classified as an operating lease if accounted for separately, the Company applies the practical expedient to aggregate the lease and non-lease components and accounts for the combined transaction based upon its predominant characteristic, which is the non-lease component. The Company accounts for the combined component as a single performance obligation under the applicable revenue guidance and recognizes the underlying assets within subscriber system assets, net.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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