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Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of Registrant | CONDENSED FINANCIAL INFORMATION OF REGISTRANT ADT INC. (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS (in thousands)
| December 31,
| 2025 |  | 2024
Assets |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 1,263 |  |  | $ | 1,861 |
Total current assets | 1,263 |  |  | 1,861 |
Investment in subsidiaries and other assets | 5,346,187 |  |  | 4,861,838 |
Total assets | $ | 5,347,450 |  |  | $ | 4,863,699 |
Liabilities and stockholders' equity |  |  |
Current liabilities: |  |  |
Dividends payable and other current liabilities | $ | 51,210 |  |  | $ | 155,472 |
Total current liabilities | 51,210 |  |  | 155,472 |
Debt due to subsidiaries | 564,299 |  |  | 554,954 |
Other liabilities | 953,331 |  |  | 352,472 |
Total liabilities | 1,568,840 |  |  | 1,062,898 |
Total stockholders' equity | 3,778,610 |  |  | 3,800,801 |
Total liabilities and stockholders' equity | $ | 5,347,450 |  |  | $ | 4,863,699 |
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,
| 2025 |  | 2024 |  | 2023
Selling, general, and administrative expenses | $ | 1,210 |  |  | $ | 988 |  |  | $ | 520 |
Merger, restructuring, integration, and other | — |  |  | (5) |  |  | (1,993) |
Operating income (loss) | (1,210) |  |  | (983) |  |  | 1,473 |
Interest expense, net | (9,298) |  |  | (9,135) |  |  | (8,984) |
Equity in net income (loss) of subsidiaries | 606,459 |  |  | 511,171 |  |  | 470,520 |
Net income (loss) | 595,951 |  |  | 501,053 |  |  | 463,009 |
Other comprehensive income (loss), net of tax | 5,478 |  |  | 9,126 |  |  | 31,038 |
Comprehensive income (loss) | $ | 601,429 |  |  | $ | 510,179 |  |  | $ | 494,047 |
Net income (loss) per share - basic: |  |  |  |  |
Common stock | $ | 0.72 |  |  | $ | 0.56 |  |  | $ | 0.51 |
Class B common stock | $ | 0.72 |  |  | $ | 0.56 |  |  | $ | 0.51 |
Weighted-average shares outstanding - basic: |  |  |  |  |
Common stock | 777,822 |  |  | 846,521 |  |  | 856,843 |
Class B common stock | 54,745 |  |  | 54,745 |  |  | 54,745 |
Net income (loss) per share - diluted: |  |  |  |  |
Common stock | $ | 0.67 |  |  | $ | 0.52 |  |  | $ | 0.48 |
Class B common stock | $ | 0.67 |  |  | $ | 0.52 |  |  | $ | 0.48 |
Weighted-average shares outstanding - diluted: |  |  |  |  |
Common stock | 841,176 |  |  | 908,700 |  |  | 919,149 |
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,
| 2025 |  | 2024 |  | 2023
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | 595,951 |  |  | $ | 501,053 |  |  | $ | 463,009 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |
Equity in net (income) loss of subsidiaries | (606,459) |  |  | (511,171) |  |  | (470,520) |
Other, net | 3,323 |  |  | 22,815 |  |  | 28,757 |
Net cash provided by (used in) operating activities | (7,185) |  |  | 12,697 |  |  | 21,246 |
Cash flows from investing activities: |  |  |  |  |
Distributions from subsidiaries | 342,087 |  |  | 170,620 |  |  | 108,783 |
Net cash provided by (used in) investing activities | 342,087 |  |  | 170,620 |  |  | 108,783 |
Cash flows from financing activities: |  |  |  |  |
Dividends on common stock | (186,774) |  |  | (182,266) |  |  | (128,587) |
Repurchases of common stock | (159,946) |  |  | — |  |  | — |
Other financing, net | 11,220 |  |  | (308) |  |  | (14,963) |
Net cash provided by (used in) financing activities | (335,500) |  |  | (182,574) |  |  | (143,550) |
Cash and cash equivalents and restricted cash and restricted cash equivalents: |  |  |  |  |
Net increase (decrease) during the period | (598) |  |  | 743 |  |  | (13,521) |
Beginning balance | 1,861 |  |  | 1,118 |  |  | 14,639 |
Ending balance | $ | 1,263 |  |  | $ | 1,861 |  |  | $ | 1,118 |
The accompanying notes are an integral part of these condensed financial statements Notes to Condensed Financial Statements (Parent Company Only) 1. Basis of Presentation The condensed financial statements of ADT Inc. have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X, as the restricted net assets of the subsidiaries of ADT Inc. (as defined in Rule 4-08(e)(3) of Regulation S-X) exceed 25% of the consolidated net assets of the Company. The ability of ADT Inc.’s operating subsidiaries to pay dividends may be restricted due to the terms of the subsidiaries’ First Lien Credit Agreement and the indentures governing other borrowings. The condensed financial statements of ADT Inc. have been prepared using the same accounting principles and policies described in the other notes to the consolidated financial statements with the only exception being that the parent company accounts for its subsidiaries using the equity method of accounting. These condensed financial statements should be read in conjunction with the Company’s consolidated financial statements and related notes thereto. 2. Transactions with Subsidiaries The majority of ADT Inc.’s transactions with its subsidiaries are related to (i) the receipt of distributions from subsidiaries in order to fund equity transactions, such as the payment of dividends and the repurchase of Common Stock; (ii) the contribution to subsidiaries of proceeds received from equity transactions; or (iii) the integration of business acquisitions into the Company’s organizational structure. During 2025 and 2024, ADT Inc. made non-cash contributions to subsidiaries of approximately $55 million and $49 million, respectively, primarily related to the transfer of net assets of certain subsidiaries for share-based compensation (including amounts related to discontinued operations). As of December 31, 2025, other liabilities includes intercompany liabilities related to share repurchases of $607 million under the 2025 Share Repurchase Plan. As of December 31, 2024, current liabilities includes $104 million related to the December 2024 agreement with a non-affiliate to repurchase shares, in which the transaction closed in January 2025, and other liabilities includes intercompany liabilities related to share repurchases of $240 million under the 2024 Share Repurchase Plan. Subsequent event - In January 2026, ADT Inc. received distributions from subsidiaries of $44 million to pay dividends that the Company declared in November 2025 to common shareholders.

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