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Description of Business and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following table reconciles the amounts below reported in the Consolidated Balance Sheets to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:
Years Ended December 31,
(in thousands)202520242023
Cash and cash equivalents$80,817 $96,212 $14,621 
Restricted cash and restricted cash equivalents(1)
27,723 107,853 115,329 
Ending balance$108,540 $204,065 $129,950 
___________________
(1)For 2024 and 2023, restricted cash and restricted cash equivalents primarily included funds received from State Farm Fire & Casualty Company (“State Farm”) (the “Opportunity Fund”), net of payments and inclusive of interest earned, in connection with the State Farm Development Agreement (as defined and discussed in Note 10 “Equity” and Note 16 “Related Party Transactions”). Use of the funds was restricted and agreed to by State Farm and the Company in accordance with the State Farm Development Agreement. In October 2025, the Company repaid to State Farm $78 million of the Opportunity Fund in connection with the expiration of the State Farm Development Agreement.
Schedule of Restricted Cash and Cash Equivalents
The following table reconciles the amounts below reported in the Consolidated Balance Sheets to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:
Years Ended December 31,
(in thousands)202520242023
Cash and cash equivalents$80,817 $96,212 $14,621 
Restricted cash and restricted cash equivalents(1)
27,723 107,853 115,329 
Ending balance$108,540 $204,065 $129,950 
___________________
(1)For 2024 and 2023, restricted cash and restricted cash equivalents primarily included funds received from State Farm Fire & Casualty Company (“State Farm”) (the “Opportunity Fund”), net of payments and inclusive of interest earned, in connection with the State Farm Development Agreement (as defined and discussed in Note 10 “Equity” and Note 16 “Related Party Transactions”). Use of the funds was restricted and agreed to by State Farm and the Company in accordance with the State Farm Development Agreement. In October 2025, the Company repaid to State Farm $78 million of the Opportunity Fund in connection with the expiration of the State Farm Development Agreement.
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 14 “Leases”):
Years Ended December 31,
(in thousands)202520242023
Interest paid, net of interest income received(1)
$409,415 $372,036 $522,775 
Payments (refunds) on income taxes, net(2)
$142,168 $21,700 $60,296 
Forward share repurchase contract(3)
$— $104,175 $— 
___________________
(1)Includes interest on finance leases (refer to Note 14 “Leases”) and interest rate swaps (refer to Note 8 “Derivative Financial Instruments”).
(2)Refer to Note 9 “Income Taxes” for disclosures on income taxes paid as a result of the adoption of ASU 2023-09, which the Company adopted on a prospective basis.
(3)In December 2024, the Company entered into an agreement with a non-affiliate individual to repurchase 15 million shares of Common Stock at a price per share of $6.95, which settled in January 2025 (refer to Note 10 “Equity”). The Company recorded a liability and a reduction to additional paid-in capital as of December 31, 2024.
Income Taxes Paid (Net of Refunds Received)
Year Ended December 31,
(in thousands)2025
Federal$105,500 
State35,259 
Foreign1,409 
Total (1)
$142,168 
___________________
(1)The Company adopted ASU 2023-09, effective January 1, 2025, on a prospective basis, which is reflected in the table above.
Cash Flow and Supplemental Information(1)
Years Ended December 31,
(in thousands)
202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating leases:
Operating cash flows$27,640 $23,574 $42,883 
Finance Leases:
Operating cash flows$3,302 $4,686 $4,940 
Financing cash flows$30,209 $29,023 $43,733 
Right-of-use assets obtained in exchange for lease obligations
Operating leases$22,857 $20,127 $41,338 
Finance leases$12,868 $35,451 $79,273 
__________________
(1)Includes both continuing and discontinued operations as applicable.
Schedule of Prepaid Expenses and Other Current Assets
December 31,
(in thousands)20252024
Prepaid expenses$52,992 $53,036 
Contract assets (see Note 2 “Revenue and Receivables”)
28,758 19,164 
Fair value of interest rate swaps (see Note 8 “Derivative Financial Instruments”)
38,264 56,164 
Tax receivables
73,201 15,962 
Other current assets57,110 66,287 
Prepaid expenses and other current assets$250,325 $210,613 
Schedule of Property, Plant and Equipment and Depreciation Expense
Property and equipment, net, is recorded at historical cost less accumulated depreciation, which is calculated using the straight-line method over the estimated useful lives of the related assets. Depreciation expense is reflected in depreciation and intangible asset amortization. Repairs and maintenance expenditures are expensed when incurred.
Useful Lives:
Buildings and related improvements
Up to 40 years
Leasehold improvementsLesser of remaining term of the lease or economic useful life
Capitalized software
3 to 10 years
Machinery, equipment, and other
Up to 10 years
Net Carrying Amount:
December 31,
(in thousands)20252024
Land$9,181 $9,773 
Buildings and leasehold improvements99,992 97,263 
Capitalized software(1)
454,209 574,644 
Machinery, equipment, and other(2)
123,961 162,631 
Construction in progress31,734 22,106 
Finance leases128,032 127,956 
Accumulated depreciation(603,711)(747,190)
Property and equipment, net$243,398 $247,183 
_______________
(1)    During 2025 includes approximately $266 million of retirements.
(2)    During 2025 includes approximately $46 million of retirements.

Depreciation Expense:
Years Ended December 31,
(in thousands)202520242023
Depreciation expense$185,989 $174,850 $176,407 
Schedule of Subscriber System Assets, Net
Subscriber system assets represent capitalized equipment and installation costs incurred in connection with transactions in which the Company retains ownership of the security system, which the Company may retrieve upon termination of the contract with the customer. Subscriber system assets are reflected in the Consolidated Balance Sheets as follows:
December 31,
(in thousands)20252024
Gross carrying amount$7,145,662 $6,878,490 
Accumulated depreciation(4,354,783)(3,897,329)
Subscriber system assets, net$2,790,879 $2,981,161 
Schedule of Subscriber System Depreciation and Amortization Cost
Depreciation of subscriber system assets and amortization of deferred subscriber acquisition costs are reflected in depreciation and intangible asset amortization and SG&A, respectively, as follows:
Years Ended December 31,
(in thousands)202520242023
Depreciation of subscriber system assets$549,957 $557,226 $545,041 
Amortization of deferred subscriber acquisition costs$252,553 $224,647 $188,222 
Schedule of Accrued Liabilities
December 31,
(in thousands)20252024
Accrued interest$56,523 $107,116 
Payroll-related accruals59,045 109,078 
Opportunity Fund (see Note 10 “Equity”)
240 84,516 
Accrued dividends44,992 48,918 
Forward share repurchase contract liability (see Note 10 “Equity”)
— 104,175 
Other accrued liabilities175,923 181,101 
Accrued expenses and other current liabilities$336,723 $634,904 
Schedule of Carrying Amount and Fair Value of Retail Installment Contract Receivables
December 31,
20252024
(in thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Retail installment contract receivables, net$651,811 $513,325 $669,326 $495,259 
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments and Securities
December 31,
20252024
(in thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Long-term debt instruments(1) (see Note 7 “Debt”)
$7,641,869 $7,746,284 $7,637,631 $7,589,677 
________________
(1)    Excludes finance leases.