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Condensed Financial Information of Registrant
 12 Months Ended
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,
20252024
Assets
Current assets:
Cash and cash equivalents$1,263 $1,861 
Total current assets1,263 1,861 
Investment in subsidiaries and other assets5,346,187 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 liabilities51,210 155,472 
Debt due to subsidiaries564,299 554,954 
Other liabilities953,331 352,472 
Total liabilities1,568,840 1,062,898 
Total stockholders' equity3,778,610 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,
202520242023
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 subsidiaries606,459 511,171 470,520 
Net income (loss)595,951 501,053 463,009 
Other comprehensive income (loss), net of tax5,478 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 stock777,822 846,521 856,843 
Class B common stock54,745 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 stock841,176 908,700 919,149 
Class B common stock54,745 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,
202520242023
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, net3,323 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 subsidiaries342,087 170,620 108,783 
Net cash provided by (used in) investing activities342,087 170,620 108,783 
Cash flows from financing activities:
Dividends on common stock(186,774)(182,266)(128,587)
Repurchases of common stock(159,946)— — 
Other financing, net11,220 (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 balance1,861 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.