ADT (ADT) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 24, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-38352
Entity Registrant Name	ADT Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4116383
Entity Address, Address Line One	1501 Yamato Road
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33431
City Area Code	561
Local Phone Number	988-3600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ADT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001703056
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		857,083,468
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		54,744,525

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 37,883	$ 14,621
Restricted cash and restricted cash equivalents	111,034	115,329
Accounts receivable, net of allowance for credit losses of $57,216 and $46,850, respectively	386,484	370,201
Inventories, net	203,022	201,394
Prepaid expenses and other current assets	240,928	242,192
Current assets of discontinued operations	6,190	60,957
Total current assets	985,541	1,004,694
Property and equipment, net	263,004	253,658
Subscriber system assets, net	3,018,746	3,005,936
Intangible assets, net	4,835,809	4,877,493
Goodwill	4,903,899	4,903,899
Deferred subscriber acquisition costs, net	1,249,237	1,175,904
Other assets	727,023	699,231
Noncurrent assets of discontinued operations	2,563	43,279
Total assets	15,985,822	15,964,094
Current liabilities:
Current maturities of long-term debt	192,220	312,061
Accounts payable	222,113	277,201
Deferred revenue	247,414	255,221
Accrued expenses and other current liabilities	604,897	556,114
Current liabilities of discontinued operations	48,702	79,611
Total current liabilities	1,315,346	1,480,208
Long-term debt	7,532,250	7,513,456
Deferred subscriber acquisition revenue	2,034,660	1,914,954
Deferred tax liabilities	1,080,102	1,027,189
Other liabilities	199,713	219,069
Noncurrent liabilities of discontinued operations	15,541	20,572
Total liabilities	12,177,612	12,175,448
Commitments and contingencies (See Note 11)
Stockholders' equity:
Preferred stock—authorized 1,000,000 shares of $0.01 par value; zero issued and outstanding as of June 30, 2024 and December 31, 2023	0	0
Additional paid-in capital	7,347,061	7,413,305
Accumulated deficit	(3,535,042)	(3,617,718)
Accumulated other comprehensive income (loss)	(12,927)	(16,162)
Total stockholders' equity	3,808,210	3,788,646
Total liabilities and stockholders' equity	15,985,822	15,964,094
Common Stock
Stockholders' equity:
Common stock	8,571	8,674
Common Class B
Stockholders' equity:
Common stock	$ 547	$ 547

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for credit loss	$ 57,216	$ 46,850
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common Stock
Common stock, shares authorized (in shares)	3,999,000,000	3,999,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	857,052,617	867,432,337
Common stock, shares outstanding (in shares)	857,052,617	867,432,337
Common Class B
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	54,744,525	54,744,525
Common stock, shares outstanding (in shares)	54,744,525	54,744,525

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Total revenue	$ 1,204,559	$ 1,168,077	$ 2,394,231	$ 2,300,553
Total cost of revenue	196,234	187,710	390,539	379,334
Selling, general, and administrative expenses	388,440	319,218	747,003	654,417
Depreciation and intangible asset amortization	333,859	320,726	666,861	679,120
Merger, restructuring, integration, and other	1,851	8,325	13,504	22,624
Operating income (loss)	284,175	332,098	576,324	565,058
Interest expense, net	(109,700)	(83,478)	(197,150)	(254,411)
Other income (expense)	11,550	519	27,172	(671)
Income (loss) from continuing operations before income taxes and equity in net earnings (losses) of equity method investee	186,025	249,139	406,346	309,976
Income tax benefit (expense)	(59,840)	(66,963)	(116,270)	(85,560)
Income (loss) from continuing operations before equity in net earnings (losses) of equity method investee	126,185	182,176	290,076	224,416
Equity in net earnings (losses) of equity method investee	0	(1,738)	0	(4,415)
Income (loss) from continuing operations	126,185	180,438	290,076	220,001
Income (loss) from discontinued operations, net of tax	(33,791)	(88,227)	(106,131)	(246,627)
Net income (loss)	$ 92,394	$ 92,211	$ 183,945	$ (26,626)
Common Stock
Income (loss) from continuing operations per share - basic (in dollars per share)	$ 0.14	$ 0.20	$ 0.32	$ 0.24
Income (loss) from continuing operations per share - diluted (in dollars per share)	0.13	0.19	0.30	0.23
Net income (loss) per share - basic (in dollars per share)	0.10	0.10	0.20	(0.03)
Net income (loss) per share - diluted (in dollars per share)	$ 0.10	$ 0.09	$ 0.19	$ (0.03)
Weighted-average shares outstanding - basic (in shares)	848,273	857,581	852,083	855,949
Weighted-average shares outstanding - diluted (in shares)	909,128	916,859	913,475	919,220
Common Class B
Income (loss) from continuing operations per share - basic (in dollars per share)	$ 0.14	$ 0.20	$ 0.32	$ 0.24
Income (loss) from continuing operations per share - diluted (in dollars per share)	0.13	0.19	0.30	0.23
Net income (loss) per share - basic (in dollars per share)	0.10	0.10	0.20	(0.03)
Net income (loss) per share - diluted (in dollars per share)	$ 0.10	$ 0.09	$ 0.19	$ (0.03)
Weighted-average shares outstanding - basic (in shares)	54,745	54,745	54,745	54,745
Weighted-average shares outstanding - diluted (in shares)	54,745	54,745	54,745	54,745
Monitoring and related services
Total revenue	$ 1,068,065	$ 1,043,255	$ 2,130,717	$ 2,071,888
Total cost of revenue	151,192	142,488	305,905	304,276
Security installation, product, and other
Total revenue	136,494	124,822	263,514	228,665
Total cost of revenue	$ 45,042	$ 45,222	$ 84,634	$ 75,058

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 92,394	$ 92,211	$ 183,945	$ (26,626)
Other comprehensive income (loss), net of tax:
Cash flow hedges	1,504	3,586	3,121	7,721
Other	23	2	114	(26)
Total other comprehensive income (loss), net of tax	1,527	3,588	3,235	7,695
Comprehensive income (loss)	$ 93,921	$ 95,799	$ 187,180	$ (18,931)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Common Class B	Common Stock Common Stock	Common Stock Common Class B	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022				862,098,000	54,745,000
Beginning balance at Dec. 31, 2022	$ 3,393,148			$ 8,621	$ 547	$ 7,380,759	$ (3,949,579)	$ (47,200)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(26,626)						(26,626)
Other comprehensive income (loss), net of tax	7,695							7,695
Dividends	(64,430)						(64,430)
Share-based compensation expense	27,488					27,488
Transactions related to employee share-based compensation plans and other (in shares)				4,311,000
Transactions related to employee share-based compensation plans and other	(19,263)			$ 43		(17,978)	(1,328)
Ending balance (in shares) at Jun. 30, 2023				866,409,000	54,745,000
Ending balance at Jun. 30, 2023	3,318,012			$ 8,664	$ 547	7,390,269	(4,041,963)	(39,505)
Beginning balance (in shares) at Mar. 31, 2023				866,917,000	54,745,000
Beginning balance at Mar. 31, 2023	3,245,432			$ 8,668	$ 547	7,380,867	(4,101,557)	(43,093)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	92,211						92,211
Other comprehensive income (loss), net of tax	3,588							3,588
Dividends	(32,172)						(32,172)
Share-based compensation expense	11,506					11,506
Transactions related to employee share-based compensation plans and other (in shares)				(508,000)
Transactions related to employee share-based compensation plans and other	(2,553)			$ (4)		(2,104)	(445)
Ending balance (in shares) at Jun. 30, 2023				866,409,000	54,745,000
Ending balance at Jun. 30, 2023	3,318,012			$ 8,664	$ 547	7,390,269	(4,041,963)	(39,505)
Beginning balance (in shares) at Dec. 31, 2023		867,432,337	54,744,525	867,432,000	54,745,000
Beginning balance at Dec. 31, 2023	3,788,646			$ 8,674	$ 547	7,413,305	(3,617,718)	(16,162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	183,945						183,945
Other comprehensive income (loss), net of tax	3,235							3,235
Dividends	(100,218)						(100,218)
Share-based compensation expense	29,387					29,387
Repurchases of common stock (including excise tax) (in shares)				(15,000,000)
Repurchases of common stock (including excise tax)	(94,119)			$ (150)		(93,969)
Transactions related to employee share-based compensation plans and other (in shares)				4,621,000
Transactions related to employee share-based compensation plans and other	(2,666)			$ 47		(1,662)	(1,051)
Ending balance (in shares) at Jun. 30, 2024		857,052,617	54,744,525	857,053,000	54,745,000
Ending balance at Jun. 30, 2024	3,808,210			$ 8,571	$ 547	7,347,061	(3,535,042)	(12,927)
Beginning balance (in shares) at Mar. 31, 2024				855,629,000	54,745,000
Beginning balance at Mar. 31, 2024	3,735,781			$ 8,556	$ 547	7,317,895	(3,576,763)	(14,454)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	92,394						92,394
Other comprehensive income (loss), net of tax	1,527							1,527
Dividends	(50,148)						(50,148)
Share-based compensation expense	21,416					21,416
Transactions related to employee share-based compensation plans and other (in shares)				1,424,000
Transactions related to employee share-based compensation plans and other	7,240			$ 15		7,750	(525)
Ending balance (in shares) at Jun. 30, 2024		857,052,617	54,744,525	857,053,000	54,745,000
Ending balance at Jun. 30, 2024	$ 3,808,210			$ 8,571	$ 547	$ 7,347,061	$ (3,535,042)	$ (12,927)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 183,945	$ (26,626)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and intangible asset amortization	668,678	728,893
Amortization of deferred subscriber acquisition costs	109,335	95,163
Amortization of deferred subscriber acquisition revenue	(169,558)	(147,932)
Share-based compensation expense	29,387	27,488
Deferred income taxes	48,985	(131,226)
Provision for losses on receivables and inventory	106,870	67,093
Goodwill, intangible, and other asset impairments	21,296	427,832
Unrealized (gain) loss on interest rate swap contracts	(1,744)	(22,097)
Other non-cash items, net	42,544	52,652
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Deferred subscriber acquisition costs	(182,834)	(185,128)
Deferred subscriber acquisition revenue	134,830	148,473
Other, net	(64,729)	(235,150)
Net cash provided by (used in) operating activities	927,005	799,435
Cash flows from investing activities:
Dealer generated customer accounts and bulk account purchases	(260,056)	(252,151)
Subscriber system asset expenditures	(284,012)	(320,328)
Purchases of property and equipment	(87,391)	(89,347)
Proceeds (payments) from interest rate swaps	(4,229)	0
Other investing, net	2,995	7,126
Net cash provided by (used in) investing activities	(632,693)	(654,700)
Cash flows from financing activities:
Proceeds from long-term borrowings	905,521	650,000
Proceeds from receivables facility	145,565	140,194
Proceeds (payments) from interest rate swaps	48,005	36,280
Repurchases of common stock	(93,356)	0
Repayment of long-term borrowings, including call premiums	(1,017,686)	(873,301)
Repayment of receivables facility	(157,713)	(92,382)
Dividends on common stock	(82,172)	(64,229)
Payments on finance leases	(15,485)	(21,271)
Other financing, net	(8,024)	(32,806)
Net cash provided by (used in) financing activities	(275,345)	(257,515)
Cash and cash equivalents and restricted cash and restricted cash equivalents:
Net increase (decrease)	18,967	(112,780)
Beginning balance	129,950	373,580
Ending balance	$ 148,917	$ 260,800

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Organization ADT Inc., together with its wholly-owned subsidiaries (collectively, “ADT” or the “Company”), provides security, interactive, and smart home solutions to consumer and small business customers in the United States (“U.S.”). Prior to March 11, 2024, the Company was majority-owned by Prime Security Services TopCo (ML), L.P., which is majority-owned by Prime Security Services TopCo Parent, L.P. (“Ultimate Parent”). Ultimate Parent is majority-owned by Apollo Investment Fund VIII, L.P. and its related funds that are directly or indirectly managed by affiliates of Apollo Global Management, Inc. (together with its subsidiaries and affiliates, “Apollo” or the “Sponsor”). Following a registered secondary offering of the Company’s common stock (“Common Stock”) by certain Apollo affiliates (and the Company’s concurrent repurchase from the underwriters of 15 million shares of Common Stock that were the subject of the offering), including the exercise of the underwriters’ overallotment option which closed on March 19, 2024, Apollo beneficially owns less than 50% of the Company’s outstanding common stock, which includes Common Stock and Class B common stock (“Class B Common Stock”) combined, and less than 50% of the Company’s outstanding Common Stock, and the Company ceased to be a “controlled company” under the New York Stock Exchange (the “NYSE”) rules. Basis of Presentation The condensed consolidated financial statements included herein: • have been prepared in U.S. dollars in accordance with generally accepted accounting principles in the United States of America (“GAAP”); • comprise the consolidated results of ADT Inc. and its wholly-owned subsidiaries, and all intercompany transactions have been eliminated; • are unaudited, but in the opinion of management, include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the Company’s financial position, results of operations, and cash flows for the interim periods presented; and • should not be taken as indicative of results that may be expected for future interim periods or the full year. The Condensed Consolidated Balance Sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. Certain information and footnote disclosures required in the annual consolidated financial statements have been omitted as appropriate. For a more comprehensive understanding of the Company and its interim results, these condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”). In addition, the results of companies acquired (if applicable) are included from the effective dates of acquisition. Prior to the sale of its shares in SNTNL LLC (“Canopy”) during the fourth quarter of 2023, the Company used the equity method of accounting to account for its investment in Canopy as it had the ability to exercise significant influence but did not control. Certain prior period amounts have been reclassified to conform with the current period presentation. Discontinued Operations In January 2024, the Company’s board of directors (the “Board of Directors” or the “Board”) approved a plan to fully exit the residential solar business (the “Solar Business”) (the “ADT Solar Exit”). The ADT Solar Exit represents a strategic shift that had a major effect on the Company’s financial results. As of June 30, 2024, substantially all operations of the Solar Business have ceased, with the results of operations and financial position of the Solar Business classified as discontinued operations in the Company’s Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets, respectively, for all periods presented. In addition, in August 2023, ADT entered into an agreement to divest its commercial business (the “Commercial Business”), which was completed in October 2023 (the “Commercial Divestiture”). As a result, the Commercial Business is presented as a discontinued operation in the Company’s Condensed Consolidated Statements of Operations for all periods presented. The cash flows and comprehensive income (loss) of discontinued operations have not been segregated and are included in the Condensed Consolidated Statements of Cash Flows and Condensed Consolidated Statements of Comprehensive Income (Loss), respectively, for all periods presented. Refer to Note 3 “Divestitures” for additional information on discontinued operations. Unless otherwise noted, amounts and disclosures throughout these Notes to Condensed Consolidated Financial Statements relate to the Company’s continuing operations. Use of Estimates The preparation of these condensed consolidated financial statements in accordance with GAAP requires the Company to select accounting policies and make estimates that affect amounts reported in the condensed consolidated financial statements and the accompanying notes. The Company’s estimates are based on the relevant information available at the end of each period. Actual results could differ materially from these estimates under different assumptions or market conditions. Segment Update Beginning in the second quarter of 2024, and as a result of the ADT Solar Exit, the Company currently reports its results in a single operating and reportable segment, which reflects the business operations of the Company’s former Consumer and Small Business (“CSB”) segment, based on the manner in which the Company’s Chief Executive Officer, who is the chief operating decision maker (the “CODM”) evaluates performance and makes decisions about how to allocate resources. Prior to the third quarter of 2023, the Commercial Business was reflected in the Commercial reportable segment, and prior to the second quarter of 2024, the Solar Business was reflected in the Solar reportable segment. Accounting Pronouncements Recently Adopted Accounting Pronouncements Supplier Finance Program Obligations - ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, requires that a reporting entity who is a buyer in a supplier finance program disclose qualitative and quantitative information about its supplier finance programs, including a roll-forward of the obligations. The Company adopted the roll-forward requirement effective January 1, 2024. The Company does not currently have any material supplier finance programs, and the guidance will be applied prospectively to any future arrangements. Fair Value of Equity Investments - ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, states that an entity should not consider the impact of contractual sale restrictions when measuring an equity security’s fair value and introduces new disclosure requirements related to such equity securities. The Company adopted this guidance effective January 1, 2024. This guidance did not impact the Company. Recently Issued Accounting Pronouncements Disclosure Improvements - ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative , represents changes to clarify or improve disclosure and presentation requirements of a variety of topics. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is monitoring the potential impact of this guidance on its financial statements and disclosures. Segment Reporting - ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. In addition, the guidance, among other requirements, enhances interim disclosures, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, and provides new segment disclosure requirements for entities with a single reportable segment. The amendments in this guidance are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. This guidance should be applied retrospectively to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its disclosures. Income Taxes - ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , focuses on improvements to income tax disclosures, primarily related to the rate reconciliation and income tax paid information. In addition, the update includes certain other amendments to improve the effectiveness of income tax disclosures. The guidance is effective for annual periods beginning after December 15, 2024, and should be applied prospectively, with retrospective application also a permitted option. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its disclosures. Significant Accounting Policies Unless otherwise noted, the Company’s accounting policies, including those discussed herein, do not materially differ from those disclosed in the 2023 Annual Report. Cash and Cash Equivalents and Restricted Cash and Restricted Cash Equivalents The following table reconciles the amounts below reported in the Condensed Consolidated Balance Sheets to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2024 December 31, 2023 Cash and cash equivalents $ 37,883 $ 14,621 Restricted cash and restricted cash equivalents (1) 111,034 115,329 Ending balance $ 148,917 $ 129,950 ________________ (1) Primarily includes funds received from State Farm Fire & Casualty Company (“State Farm”), net of payments and inclusive of interest earned, in connection with the State Farm Development Agreement (as defined and discussed in Note 13 “Related Party Transactions”). The remaining amount of restricted cash relates to the Company’s uncommitted receivables securitization financing agreement (the “ 2020 Receivables Facility”). Refer to Note 5 “Debt.” Inventories, net Inventories, net includes finished goods and work-in-progress. Work-in-progress is not material. Subscriber System Assets, net and Deferred Subscriber Acquisition Costs, 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, and which the Company may retrieve upon termination of the contract with the customer. Deferred subscriber acquisition costs represent selling expenses (primarily commissions) that are incremental to acquiring customers. Subscriber system assets and any related deferred subscriber acquisition costs are accounted for on a pooled basis based on the month and year of customer acquisition. The Company depreciates and amortizes these pooled costs using an accelerated method over the estimated life of the customer relationship, which is 15 years. (in thousands) June 30, 2024 December 31, 2023 Gross carrying amount $ 6,665,977 $ 6,404,479 Accumulated depreciation (3,647,231) (3,398,543) Subscriber system assets, net $ 3,018,746 $ 3,005,936 Depreciation of subscriber system assets and amortization of deferred subscriber acquisition costs are reflected in depreciation and intangible asset amortization and selling, general, and administrative expenses (“SG&A”), respectively, as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Depreciation of subscriber system assets $ 139,306 $ 134,894 $ 277,609 $ 272,325 Amortization of deferred subscriber acquisition costs $ 54,730 $ 45,968 $ 109,335 $ 90,200 Accrued Expenses and Other Current Liabilities (in thousands) June 30, 2024 December 31, 2023 Accrued interest $ 124,457 $ 111,197 Payroll-related accruals 82,422 110,941 Opportunity Fund (see Note 13 “Related Party Transactions”) 89,254 93,950 Operating lease liabilities (see Note 12 “Leases”) 19,282 13,035 Accrued dividends 50,042 32,207 Other accrued liabilities 239,440 194,784 Accrued expenses and other current liabilities $ 604,897 $ 556,114 Fair Value of Financial Instruments The Company’s financial instruments primarily consist of cash and cash equivalents, restricted cash and restricted cash equivalents, accounts receivable, retail installment contract receivables, accounts payable, debt, and derivative financial instruments. Due to their short-term and/or liquid nature, the fair values of cash, restricted cash, accounts receivable, and accounts payable approximate their respective carrying amounts. Cash Equivalents - Included in cash and cash equivalents and restricted cash and restricted cash equivalents, as applicable from time to time, are investments in money market mutual funds. These investments are generally classified as Level 1 fair value measurements, which represent unadjusted quoted prices in active markets for identical assets or liabilities. As of June 30, 2024 and December 31, 2023, investments in money market mutual funds were $57 million and $55 million, respectively. Long-Term Debt Instruments - The fair values of the Company’s long-term debt instruments are determined using broker-quoted market prices, which represent quoted prices for similar assets or liabilities as well as other observable market data, and are classified as Level 2 fair value measurements. The carrying amounts of debt outstanding, if any, under the Company’s first lien revolving credit facility (the “First Lien Revolving Credit Facility”) and the 2020 Receivables Facility approximate their fair values as interest rates on these borrowings approximate current market rates. June 30, 2024 December 31, 2023 (in thousands) Carrying Fair Carrying Fair Long-term debt instruments subject to fair value disclosures (1) $ 7,647,751 $ 7,576,484 $ 7,756,049 $ 7,731,408 ________________ (1) Excludes finance leases and certain vehicle loans reported as discontinued operations. Derivative Financial Instruments - Derivative financial instruments are reported at fair value as either assets or liabilities that are primarily calculated using discounted cash flow models utilizing observable inputs, such as quoted forward interest rates, and incorporate credit risk adjustments to reflect the risk of default by the counterparty or the Company. The resulting fair values are classified as Level 2 fair value measurements. Refer to Note 6 “Derivative Financial Instruments” for the fair values of the Company’s derivative financial instruments. Retail Installment Contract Receivables - The fair values of the Company’s retail installment contract receivables are determined using a discounted cash flow model and are classified as Level 3 fair value measurements. June 30, 2024 December 31, 2023 (in thousands) Carrying Fair Carrying Fair Retail installment contract receivables, net $ 675,362 $ 494,758 $ 673,635 $ 487,685

REVENUE AND RECEIVABLES

REVENUE AND RECEIVABLES	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE AND RECEIVABLES	REVENUE AND RECEIVABLES Revenue The Company allocates the transaction price to each performance obligation based on the relative standalone selling price, which is determined using observable internal and external pricing, profitability, and operational metrics. In addition to the details provided below, the Company’s disaggregated revenue includes monitoring and related services and security installation, product, and other revenue, which are presented on the face of the Condensed Consolidated Statements of Operations. Company-Owned - In transactions in which the Company provides monitoring and related services but retains ownership of the security system (referred to as Company-owned transactions), the Company’s performance obligations primarily include (i) monitoring and related services, which are recognized when these services are provided to the customer, and (ii) a material right associated with the one-time non-refundable fees in connection with the initiation of a monitoring contract which the customer will not be required to pay again upon a renewal of the contract (referred to as deferred subscriber acquisition revenue). Deferred subscriber acquisition revenue is amortized on a pooled basis over the estimated life of the customer relationship using an accelerated method consistent with the treatment of subscriber system assets and deferred subscriber acquisition costs and is reflected in security installation, product, and other revenue. Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Amortization of deferred subscriber acquisition revenue $ 86,182 $ 73,610 $ 169,558 $ 143,308 Customer-Owned - In transactions involving security systems sold outright to the customer (referred to as outright sales), the Company’s performance obligations generally include the sale and installation of the system, which is primarily recognized at a point in time based upon the nature of the transaction and contractual terms, and any monitoring and related services, which are recognized when these services are provided to the customer. Allowance for Credit Losses The Company evaluates its allowance for credit losses on accounts receivable in pools based on customer type. For each customer pool, the allowance for credit losses is estimated based on the delinquency status of the underlying receivables and the related historical loss experience, as adjusted for current and expected future conditions, if applicable. The allowance for credit losses is not material for the individual pools of customers. Six Months Ended June 30, (in thousands) 2024 2023 Beginning balance $ 46,850 $ 27,815 Provision for credit losses 73,707 54,185 Write-offs, net of recoveries (1) (63,341) (50,073) Ending balance $ 57,216 $ 31,927 ________________ (1) Recoveries were not material for the periods presented. As such, the Company presented write-offs, net of recoveries. Retail Installment Contract Receivables, Net For security system transactions occurring under both Company-owned and customer-owned equipment models, the Company’s retail installment contract option allows qualifying residential customers to pay the fees due at installation over a 24-, 36-, or 60-month interest-free period, and there is no significant financing component. Upon origination of a retail installment contract, the Company utilizes external credit scores to assess customer credit quality and determine eligibility. Subsequent to origination, the Company monitors the delinquency status of retail installment contract receivables as the key credit quality indicator. The balance of unbilled retail installment contract receivables comprises: (in thousands) June 30, 2024 December 31, 2023 Retail installment contract receivables, gross $ 681,852 $ 674,827 Allowance for credit losses (6,490) (1,192) Retail installment contract receivables, net $ 675,362 $ 673,635 Balance Sheet Classification: Accounts receivable, net $ 252,365 $ 238,961 Other assets 422,997 434,674 Retail installment contract receivables, net $ 675,362 $ 673,635 The allowance for credit losses relates to retail installment contract receivables from outright sales transactions. As of June 30, 2024, the current and delinquent billed retail installment contract receivables were not material. As of June 30, 2024 and December 31, 2023, retail installment contract receivables, net, used as collateral for borrowings under the 2020 Receivables Facility were $611 million and $610 million, respectively. Refer to Note 5 “Debt” for further discussion regarding the 2020 Receivables Facility. Contract Assets Contract assets represent the Company’s right to consideration in exchange for goods or services transferred to the customer. The contract asset is reclassified to accounts receivable when the Company’s right to the consideration becomes unconditional, which generally occurs over the course of a 24-, 36-, or 60-month period as additional services are performed and billed. There is no significant financing component. During the six months ended June 30, 2024 and 2023, contract assets recognized were not material. The balance of contract assets for residential transactions comprises: (in thousands) June 30, 2024 December 31, 2023 Contract assets, gross $ 40,551 $ 39,627 Allowance for credit losses (5,121) (9,025) Contract assets, net $ 35,430 $ 30,602 Balance Sheet Classification: Prepaid expenses and other current assets $ 17,527 $ 15,365 Other assets 17,903 15,237 Contract assets, net $ 35,430 $ 30,602

DIVESTITURES

DIVESTITURES	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	DIVESTITURES The Company may decide to divest or exit a portion of its business for various reasons, including efforts to focus on its other businesses. The Company presents discontinued operations for components of the business that are either disposed of through sale (or qualify as held for sale), abandonment, or spin-off if these actions also represent a strategic shift that has or will have a major effect on the Company’s financial results. Refer to Note 10 “Net Income (Loss) per Share” for basic and diluted earnings per share information for discontinued operations. ADT Solar Exit As discussed in Note 1 “Description of Business and Summary of Significant Accounting Policies,” as a result of the ADT Solar Exit, the Solar Business is now presented as a discontinued operation in the Company’s Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets for the periods presented as substantially all operations have ceased. During the three and six months ended June 30, 2024, the Company incurred aggregate exit charges of $13 million and $89 million, respectively, which have been recognized within income (loss) from discontinued operations, net of tax related to (i) $1 million and $36 million, respectively, associated with the write-down and disposition of inventory and asset impairments, (ii) $10 million and $29 million, respectively, associated with the disposition of the existing installation pipeline, (iii) $1 million and $12 million, respectively, associated with employee separation costs, and (iv) $2 million and $12 million, respectively, associated with contract termination and other charges. During the six months ended June 30, 2024, the Company paid $18 million associated with the ADT Solar Exit primarily related to employee separation and other restructuring costs. The following reconciliations represent the major classes of line items of the Solar Business presented within discontinued operations in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations and certain information in the Condensed Consolidated Statements of Cash Flows for the periods presented. Balance Sheet Information (in thousands) June 30, 2024 December 31, 2023 Assets Accounts receivable, net $ 1,089 $ 20,270 Inventories, net 1,894 28,714 Prepaid expenses and other current assets 3,207 11,973 Total current assets of discontinued operations 6,190 60,957 Property and equipment, net 2,451 29,512 Other assets 112 13,767 Total assets of discontinued operations $ 8,753 $ 104,236 Liabilities Current maturities of long-term debt $ 476 $ 8,551 Accounts payable 7,199 16,682 Deferred revenue 461 9,177 Accrued expenses and other current liabilities 40,566 45,201 Total current liabilities of discontinued operations 48,702 79,611 Long-term debt 2,442 9,893 Other liabilities 13,099 10,679 Total liabilities of discontinued operations $ 64,243 $ 100,183 Statements of Operations Information Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Revenue $ 1,656 $ 77,532 $ 21,295 $ 222,367 Cost of revenue 19,837 64,898 61,359 163,242 Selling, general, and administrative expenses 11,877 50,896 51,768 109,071 Depreciation and intangible asset amortization 466 4,939 1,817 8,896 Merger, restructuring, integration, and other 4,622 2,180 38,150 3,418 Goodwill impairment — 181,179 — 422,809 Other (income) and expense items (8) 415 1,473 784 Income (loss) from discontinued operations before income taxes (35,138) (226,975) (133,272) (485,853) Income tax benefit (expense) 9,601 44,229 35,376 136,763 Income (loss) from discontinued operations, net of tax $ (25,537) $ (182,746) $ (97,896) $ (349,090) Cash Flow Information Six Months Ended June 30, (in thousands) 2024 2023 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and intangible asset amortization $ 1,817 $ 8,896 Goodwill impairment $ — $ 422,809 Cash flows from investing activities: Purchases of property and equipment $ (80) $ (2,675) Commercial Divestiture As discussed in Note 1 “Description of Business and Summary of Significant Accounting Policies,” on October 2, 2023, the Company completed the Commercial Divestiture. The total purchase price was approximately $1,613 million, and the Company received net proceeds of approximately $1,585 million, subject to certain customary post-closing adjustments as set forth in the purchase agreement. Subsequent Event - In July 2024, the Company paid the purchaser of the Commercial Business $21 million related to the settlement of post-closing adjustments. 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, 2024, the Company recognized $11 million and $22 million, respectively, of income from the Commercial TSA, which is reflected in other income (expense). The following reconciliations represent the major classes of line items of the Commercial Business presented within discontinued operations in the Condensed Consolidated Statements of Operations and certain information in the Condensed Consolidated Statements of Cash Flows for any period presented prior to the Commercial Divestiture. Statements of Operations Information During the three and six months ended June 30, 2024, activity, net of tax, relating to the Commercial Divestiture was approximately $8 million. (in thousands) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Revenue $ 347,519 $ 682,562 Cost of revenue 231,068 455,101 Selling, general, and administrative expenses 71,657 140,512 Depreciation and intangible asset amortization 20,173 40,877 Other (income) and expense items 7,974 10,408 Income (loss) from discontinued operations before income taxes 16,647 35,664 Income tax benefit (expense) 77,872 66,799 Income (loss) from discontinued operations, net of tax $ 94,519 $ 102,463 Cash Flow Information (in thousands) Six Months Ended June 30, 2023 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and intangible asset amortization $ 40,877 Share-based compensation expense $ 6,001 Cash flows from investing activities: Subscriber system asset expenditures $ (6,212) Purchases of property and equipment $ (5,764)

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill There were no changes in the carrying amounts of goodwill since December 31, 2023. All accumulated goodwill impairment losses were associated with the Solar reporting unit, which is now presented as a discontinued operation. Other Intangible Assets June 30, 2024 December 31, 2023 (in thousands) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Definite-lived intangible assets: Contracts and related customer relationships $ 5,831,213 $ (3,197,319) $ 2,633,894 $ 5,571,456 $ (2,937,245) $ 2,634,211 Dealer relationships 1,518,020 (657,761) 860,259 1,518,020 (618,154) 899,866 Other 209,773 (201,117) 8,656 209,773 (199,357) 10,416 Total definite-lived intangible assets 7,559,006 (4,056,197) 3,502,809 7,299,249 (3,754,756) 3,544,493 Indefinite-lived intangible assets: Trade name 1,333,000 — 1,333,000 1,333,000 — 1,333,000 Intangible assets $ 8,892,006 $ (4,056,197) $ 4,835,809 $ 8,632,249 $ (3,754,756) $ 4,877,493 The change in the net carrying amount of contracts and related customer relationships during the period was as follows: (in thousands) Balance as of December 31, 2023 $ 2,634,211 Customer contract additions, net of dealer charge-backs (1) 259,858 Amortization (260,175) Balance as of June 30, 2024 $ 2,633,894 ________________ (1) The weighted-average amortization period for customer contract additions was approximately 15 years. Payments for customer contract additions under the Company’s authorized dealer program and from other third parties are reflected as dealer generated customer accounts and bulk account purchases on the Condensed Consolidated Statements of Cash Flows. Definite-Lived Intangible Asset Amortization Expense Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Definite-lived intangible asset amortization expense $ 150,644 $ 146,163 $ 301,542 $ 323,643

DEBT

DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT The Company’s debt is comprised of the following (in thousands) : Description Issued Maturity Interest Rate (1) Interest Payable June 30, 2024 December 31, 2023 First Lien Term Loan B due 2030 10/13/2023 10/13/2030 Term SOFR +2.25% Quarterly $ 1,989,063 $ 1,375,000 First Lien Revolving Credit Facility 3/16/2018 6/23/2026 Term SOFR +2.75% Quarterly — — Term Loan A Facility 3/14/2023 3/14/2028 Term SOFR +2.25% Quarterly — 625,625 First Lien Notes due 2024 4/4/2019 4/15/2024 5.250% 2/15 and 8/15 — 99,999 First Lien Notes due 2026 4/4/2019 4/15/2026 5.750% 3/15 and 9/15 1,350,000 1,350,000 First Lien Notes due 2027 8/20/2020 8/31/2027 3.375% 6/15 and 12/15 1,000,000 1,000,000 First Lien Notes due 2029 7/29/2021 8/1/2029 4.125% 2/1 and 8/1 1,000,000 1,000,000 ADT Notes due 2032 5/2/2016 7/15/2032 4.875% 1/15 and 7/15 728,016 728,016 ADT Notes due 2042 7/5/2012 7/15/2042 4.875% 1/15 and 7/15 21,896 21,896 Second Lien Notes due 2028 1/28/2020 1/15/2028 6.250% 1/15 and 7/15 1,300,000 1,300,000 2020 Receivables Facility (2) 3/5/2020 5/20/2029 Various Monthly 423,855 436,004 Total debt principal, excluding finance leases 7,812,830 7,936,540 Plus: Finance lease liabilities (3) 76,719 69,468 Less: Unamortized debt discount, net (12,436) (15,005) Less: Unamortized deferred financing costs (32,132) (39,620) Less: Unamortized purchase accounting fair value adjustment and other (120,511) (125,866) Total debt 7,724,470 7,825,517 Less: Current maturities of long-term debt, net of unamortized debt discount (192,220) (312,061) Long-term debt $ 7,532,250 $ 7,513,456 _________________ (1) Interest rate as of June 30, 2024 . Interest on the 2020 Receivables Facility is primarily based on the Secured Overnight Financing Rate (“SOFR”) + 0.95 (2) Maturity date for the 2020 Receivables Facility represents the final maturity date of current loans borrowed under the facility. (3) Refer to Note 12 “Leases” for additional information regarding the Company’s finance leases. As of June 30, 2024, the Company was in compliance with all financial covenant and other maintenance tests for all of its debt obligations. Significant changes in the Company’s debt during the six months ended June 30, 2024 were as follows: First Lien Credit Agreement The Company’s first lien credit agreement, dated as of July 1, 2015 (together with subsequent amendments and restatements, the “First Lien Credit Agreement”), contains a term loan (the “First Lien Term Loan B due 2030”) and the First Lien Revolving Credit Facility. During the six months ended June 30, 2024, the Company borrowed $260 million and repaid $260 million under the First Lien Revolving Credit Facility; and as of June 30, 2024, the available borrowing capacity was $575 million. During the six months ended June 30, 2023, there were no borrowings or repayments under the First Lien Revolving Credit Facility. Significant amendments to the First Lien Credit Agreement since December 31, 2023 are as follows: • April 2024 - The Company amended and restated the First Lien Credit Agreement, which reduced the interest rate on the First Lien Term Loan B due 2030 from Term SOFR + 2.50 2.25 • May 2024 - The Company amended and restated the First Lien Credit Agreement, which included the exchange of $143 million principal amount of loans under the Company’s Term Loan A Facility for its First Lien Term Loan B due 2030. In addition, later that month, the Company further amended and restated the First Lien Credit Agreement, pursuant to which the Company incurred an additional $474 million of outstanding principal under the First Lien Term Loan B due 2030 with the proceeds used to pay off the remaining outstanding balance of the Company’s Term Loan A Facility. Proceeds and repayments of long-term borrowings include the impact of $646 million from the amendments described above. In addition, debt issuance costs, loss on extinguishment of debt, and financing and consent fees were not material as a result of these amendments. Other than as described above, the loans under the amended and restated First Lien Credit Agreement continue to have the same terms as provided under the existing First Lien Credit Agreement and the parties to the amended and restated First Lien Credit Agreement continue to have the same obligations set forth in the existing First Lien Credit Agreement. Term Loan A Facility Redemption Significant activity since December 31, 2023 is as follows: • May 2024 - The Company exchanged $143 million of loans under its Term Loan A Facility for its First Lien Term Loan B due 2030, as discussed above. In addition, later that month, the Company redeemed the remaining outstanding principal balance of $474 million of its Term Loan A Facility, excluding accrued and unpaid interest, using proceeds under the First Lien Term Loan B due 2030, as discussed above. As a result, the Term Loan A Facility has been terminated. First Lien Notes due 2024 Redemption Significant activity since December 31, 2023 is as follows: • April 2024 - The Company redeemed the remaining outstanding principal balance of $100 million of the First Lien Notes due 2024, excluding accrued and unpaid interest, using proceeds from the Company’s First Lien Revolving Credit Facility. 2020 Receivables Facility Under the 2020 Receivables Facility, the Company obtains financing by selling or contributing certain retail installment contract receivables to the Company’s wholly-owned consolidated bankruptcy-remote special purpose entity (the “SPE”), which then grants a security interest in those retail installment contract receivables as collateral for cash borrowings. Significant activity since December 31, 2023 is as follows: • March 2024 - The Company amended the agreement governing the 2020 Receivables Facility, pursuant to which the uncommitted revolving period was extended from March 2024 to April 2024. • April 2024 - The Company further amended the agreement governing the 2020 Receivables Facility, pursuant to which, among other things, the borrowing capacity was increased from $500 million to $550 million and the uncommitted revolving period was extended from April 2024 to April 2025. In addition, proceeds and repayments of long-term borrowings include the impact of $32 million from the amendments described above. As of June 30, 2024, the Company had an uncommitted available borrowing capacity under the 2020 Receivables Facility of approximately $126 million. Variable Interest Entity The SPE meets the definition of a variable interest entity for which the Company is the primary beneficiary as it has the power to direct the SPE’s activities and the obligation to absorb losses or the right to receive benefits of the SPE. As such, the Company consolidates the SPE’s assets, liabilities, and financial results of operations. The SPE’s assets and liabilities primarily consist of a portion of the Company’s unbilled retail installment contract receivables, net, as discussed in Note 2 “Revenue and Receivables,” and borrowings under the 2020 Receivables Facility, as presented above. The 2020 Receivables Facility did not have a material impact to the Condensed Consolidated Statements of Operations during the periods presented. Solar Receivables Facility On August 2, 2023, Compass Solar Group, LLC (“Compass”) and ADT Solar Finance LLC (“ADT Solar Finance”), each an indirect wholly-owned subsidiary of ADT Inc. entered into a Receivables Financing Agreement with Mizuho Bank, Ltd. (the “Solar Receivables Financing Agreement”) to finance receivables generated by the installation of residential solar systems. The Solar Receivables Financing Agreement, among other things, provides for an uncommitted revolving loan facility in the aggregate principal amount of up to $300 million which loans are secured by substantially all the assets of ADT Solar Finance (the “Solar Receivables Facility”). As of June 30, 2024, the Company has not borrowed any amounts under the Solar Receivable Facility, and given the ADT Solar Exit, the Company does not expect to borrow any amounts under the Solar Receivables Facility. The Solar Receivables Facility’s uncommitted revolving period will expire in August 2024.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The Company's derivative financial instruments primarily consist of interest rate swap contracts, which were entered into with the objective of managing exposure to variability in interest rates on the Company's debt. As of July 2023, SOFR is the applicable benchmark for all of the Company's interest rate swap contracts. All interest rate swap contracts are reported in the Condensed Consolidated Balance Sheets at fair value. For interest rate swap contracts that are: • Not designated as cash flow hedges: Unrealized gains and losses are recognized in interest expense, net, and other income (expense) depending on the nature of the underlying that the swaps are economically hedging. • Designated as cash flow hedges: Unrealized gains and losses are recognized as a component of accumulated other comprehensive income (loss) (“AOCI”) and are reclassified into interest expense, net, in the same period in which the related interest on debt affects earnings. For interest rate swap contracts that have been de-designated as cash flow hedges and for which forecasted cash flows are: • Probable or reasonably possible of occurring: Unrealized gains and losses previously recognized as a component of AOCI are reclassified into interest expense, net, in the same period in which the related interest on variable-rate debt affects earnings through the original maturity date of the related interest rate swap contracts. • Probable of not occurring: Unrealized gains and losses previously recognized as a component of AOCI are immediately reclassified into interest expense, net. The cash flows associated with interest rate swap contracts that included an other-than-insignificant financing element at inception are reflected as cash flows from financing activities. The cash flows associated with interest rate swap contracts that were entered into with the intention of offsetting the economic overhedged position of a portion of our existing interest rate swaps are reflected as cash flows from investing activities. Interest Rate Swaps As of June 30, 2024 and December 31, 2023, the Company’s interest rate swaps consisted of the following (in thousands) : Execution Maturity Designation Notional Amount October 2019 September 2026 Not designated $ 2,800,000 March 2023 March 2028 Not designated 100,000 April 2023 March 2028 Not designated 200,000 December 2023 (1) September 2026 Not designated 700,000 Total notional amount $ 3,800,000 _________________ (1) Interest rate swaps entered into to offset the excess notional interest rate swaps as a result of the partial redemption of the First Lien Term Loan B due 2026. The changes in fair value associated with these swaps and the over-hedged swaps are reflected in other income (expense). Classification and Fair Value of Interest Rate Swaps (in thousands) June 30, 2024 December 31, 2023 Prepaid expenses and other current assets $ 82,164 $ 74,974 Other assets $ 81,312 $ 76,493 Accrued expenses and other current liabilities $ 7,396 $ 5,312 Other liabilities $ 583 $ 1,325 Unrealized Gain (Loss) on Interest Rate Swaps Three Months Ended June 30, Six Months Ended June 30, Statement of Operations Classification (in thousands) 2024 2023 2024 2023 Interest expense, net $ (5,125) $ 54,613 $ 11,622 $ 22,097 Other income (expense) $ (3,277) $ — $ (9,878) $ — Cash Flow Hedges Reclassifications out of AOCI Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Interest expense, net $ 1,985 $ 4,729 $ 4,114 $ 10,178 Income tax (benefit) expense $ (481) $ (1,143) $ (993) $ (2,457) As of June 30, 2024 and December 31, 2023, AOCI, net of tax, related to previously designated cash flow hedges was $10 million and $13 million, respectively. As of June 30, 2024, AOCI associated with previously designated cash flow hedges that is estimated to be reclassified to interest expense, net, within the next twelve months is not material.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Unrecognized Tax Benefits The Company’s unrecognized tax benefits relate to tax years that remain subject to audit by the taxing authorities in the U.S. federal, state and local, and foreign jurisdictions. During the six months ended June 30, 2024, the Company did not have a material change to its unrecognized tax benefits from those disclosed in the 2023 Annual Report. Based on the current status of its income tax audits, the Company expects approximately $29 million of its unrecognized tax benefits will be resolved in the next twelve months. Effective Tax Rate The effective tax rate can vary from period to period due to permanent tax adjustments, discrete items such as the settlement of income tax audits and changes in tax laws, as well as recurring factors such as changes in the overall state tax rate. The discussion below is based on the continuing operations of the Company. The Company’s income tax expense for the three months ended June 30, 2024 was $60 million, resulting in an effective tax rate for the period of 32.2%. The effective tax rate primarily represents the federal statutory rate of 21.0%, a state tax rate, net of federal benefits, of 5.9%, and an unfavorable impact from dispositions of 5.0%. The Company’s income tax expense for the three months ended June 30, 2023 was $67 million, resulting in an effective tax rate for the period of 26.9%. The effective tax rate primarily represents the federal statutory tax rate of 21.0%, and a state tax rate, net of federal benefits, of 5.0%. The Company’s income tax expense for the six months ended June 30, 2024 was $116 million, resulting in an effective tax rate for the period of 28.6%. The effective tax rate primarily represents the federal statutory rate of 21.0%, a state tax rate, net of federal benefits, of 5.6%, and an unfavorable impact from dispositions of 2.3%. The Company’s income tax expense for the six months ended June 30, 2023 was $86 million, resulting in an effective tax rate for the period of 27.6%. The effective tax rate primarily represents the federal statutory tax rate of 21.0%, a state tax rate, net of federal benefits, of 6.1%, an unfavorable impact from permanent non-deductible items of 1.5%, partially offset by favorable impacts from federal tax credits of 1.0%.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
EQUITY	EQUITY Common Stock and Class B Common Stock The Company has two classes of common stock, including Common Stock and Class B Common Stock. During the six months ended June 30, 2024, shares issued resulted from the vesting of restricted stock units (“RSUs”) and stock option exercises related to share-based compensation awards. Share Repurchase Plan On January 24, 2024, the Company's Board of Directors announced a share repurchase plan (the “Share Repurchase Plan”), pursuant to which the Company is authorized to repurchase, through January 29, 2025, up to a maximum aggregate amount of $350 million of shares of the Company's Common Stock under this Share Repurchase Plan. The Company may effect these repurchases pursuant to one or more open market or private transactions, including pursuant to a plan that qualifies for the affirmative defense provided by Rule 10b5‐1 under the Exchange Act, or pursuant to one or more accelerated share repurchase agreements. The Company is not obligated to repurchase any of its shares of Common Stock, and the timing and amount of any repurchases will depend on legal requirements, market conditions, stock price, the availability of the safe harbor provided by Rule 10b-18 under the Exchange Act, alternative uses of capital, and other factors. During the first quarter of 2024, the Company repurchased and retired 15 million shares of its Common Stock under the Share Repurchase Plan and paid approximately $93 million (or approximately $6.22 per share). Refer to Note 13 “Related Party Transactions” for further information. There were no share repurchases during the three months ended June 30, 2024. As of June 30, 2024, the Company had approximately $257 million remaining under the Share Repurchase Plan. Dividends (in thousands, except per share data) Common Stock Class B Common Stock Declaration Date Record Date Payment Date Per Share Aggregate Per Share Aggregate Six Months Ended June 30, 2024 1/24/2024 3/14/2024 4/4/2024 $ 0.055 $ 47,059 $ 0.055 $ 3,011 4/25/2024 6/13/2024 7/9/2024 0.055 47,137 0.055 3,011 Total $ 0.110 $ 94,196 $ 0.110 $ 6,022 Six Months Ended June 30, 2023 2/28/2023 3/16/2023 4/4/2023 $ 0.035 $ 30,342 $ 0.035 $ 1,916 5/2/2023 6/15/2023 7/6/2023 0.035 30,256 0.035 1,916 Total $ 0.070 $ 60,598 $ 0.070 $ 3,832 Subsequent Event - On August 1, 2024, the Company announced a dividend of $0.055 per share to holders of Common Stock and Class B Common Stock of record on September 13, 2024, which will be paid on October 4, 2024. Accumulated Other Comprehensive Income (Loss) There were no material reclassifications out of AOCI. Refer to Note 6 “Derivative Financial Instruments” for AOCI reclassifications associated with cash flow hedges.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION RSUs During the first quarter of 2024, the Company completed its annual long-term incentive plan equity award to employees and granted approximately 3.9 million RSUs under its 2018 Omnibus Incentive Plan, as amended (the “2018 Plan”) with a grant date fair value of $6.51 equal to the closing price per share of the Company’s Common Stock on the date of grant. These RSUs are service-based awards with a three-year graded vesting period from the date of grant. Options During the first quarter of 2024, the Company granted approximately 6.8 million options under the 2018 Plan. These options are service-based awards with a three The Company used a binomial lattice model to determine the grant date fair value for options granted and included the following assumptions: Expected exercise term (years) 7 Expected volatility (1) 49.9% Expected dividend yield (2) 3.4% Risk-free interest rate (3) 4.0% _________________ (1) Estimated using historical and implied stock price volatility of the Company. (2) Calculated by taking the annual dividend run-rate and dividing by the stock price at date of grant. (3) Based on the U.S. Treasury yield curve. Other The Company modified certain share-based compensation awards during the second quarter of 2024 and recorded additional share-based compensation expense of $11 million associated with the modifications.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	NET INCOME (LOSS) PER SHARE The Company applies the two-class method for computing and presenting net income (loss) per share for each class of common stock, which allocates current period net income (loss) to each class of common stock and participating securities based on dividends declared and participation rights in the remaining undistributed earnings or losses. Basic net income (loss) per share is computed by dividing the net income (loss) allocated to each class of common stock by the related weighted-average number of shares outstanding during the period. Diluted net income (loss) per share gives effect to all securities representing potential common shares that were dilutive and outstanding during the period for each class of common stock and excludes potentially dilutive securities whose effect would have been anti-dilutive. Common Stock Potential shares of Common Stock include (i) incremental shares related to the vesting or exercise of share-based compensation awards, warrants, and other options to purchase additional shares of the Company’s Common Stock calculated using the treasury stock method and (ii) incremental shares of Common Stock issuable upon the conversion of Class B Common Stock. Additionally, the basic and diluted earnings per share computations for Common Stock excludes approximately 7 million and 9 million unvested shares for the current and prior periods, respectively, as their vesting is contingent upon achievement of certain performance requirements. Three Months Ended June 30, Six Months Ended June 30, in thousands, except per share amounts 2024 2023 2024 2023 Allocation of income (loss) from continuing operations - basic $ 118,589 $ 169,679 $ 272,664 $ 206,807 Dilutive effect 3,299 2,452 6,739 4,440 Allocation of income (loss) from continuing operations - diluted $ 121,888 $ 172,131 $ 279,403 $ 211,247 Allocation of income (loss) from discontinued operations, net of tax - basic $ (31,756) $ (82,967) $ (99,771) $ (231,801) Dilutive effect — — — — Allocation of income (loss) from discontinued operations, net of tax - diluted $ (31,756) $ (82,967) $ (99,771) $ (231,801) Weighted-average shares outstanding - basic 848,273 857,581 852,083 855,949 Dilutive effect (1) 60,855 59,278 61,392 63,271 Weighted-average shares outstanding - diluted 909,128 916,859 913,475 919,220 Income (loss) from continuing operations per share - basic $ 0.14 $ 0.20 $ 0.32 $ 0.24 Income (loss) from continuing operations per share - diluted $ 0.13 $ 0.19 $ 0.30 $ 0.23 Income (loss) per share from discontinued operations, net of tax - basic $ (0.04) $ (0.10) $ (0.12) $ (0.27) Income (loss) per share from discontinued operations, net of tax - diluted $ (0.03) $ (0.09) $ (0.11) $ (0.25) _________________ (1) During the three and six months ended June 30, 2024, 22 million and 19 million shares of Common Stock that would be dilutive were excluded from the diluted earnings per share calculations because their effects would have been anti-dilutive. During the three and six months ended June 30, 2023, 25 million and 18 million shares of Common Stock that would be dilutive were excluded from the diluted earnings per share calculations because their effects would have been anti-dilutive. Class B Common Stock Three Months Ended June 30, Six Months Ended June 30, in thousands, except per share amounts 2024 2023 2024 2023 Allocation of net income (loss) from continuing operations - basic $ 7,596 $ 10,759 $ 17,412 $ 13,194 Dilutive effect (288) (536) (717) (608) Allocation of net income (loss) from continuing operations - diluted $ 7,308 $ 10,223 $ 16,695 $ 12,586 Allocation of income (loss) from discontinued operations, net of tax - basic $ (2,035) $ (5,260) $ (6,360) $ (14,826) Dilutive effect — — — — Allocation of income (loss) from discontinued operations, net of tax - diluted $ (2,035) $ (5,260) $ (6,360) $ (14,826) Weighted-average shares outstanding - basic 54,745 54,745 54,745 54,745 Dilutive effect (1) — — — — Weighted-average shares outstanding - diluted 54,745 54,745 54,745 54,745 Net income (loss) from continuing operations per share - basic $ 0.14 $ 0.20 $ 0.32 $ 0.24 Net income (loss) from continuing operations per share - diluted $ 0.13 $ 0.19 $ 0.30 $ 0.23 Income (loss) per share from discontinued operations, net of tax - basic $ (0.04) $ (0.10) $ (0.12) $ (0.27) Income (loss) per share from discontinued operations, net of tax - diluted $ (0.03) $ (0.09) $ (0.11) $ (0.25) ________________ (1) There were no potential shares of Class B Common Stock during the periods presented.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contractual Obligations There have been no significant changes to the Company’s contractual obligations as compared to December 31, 2023, except as discussed below: Google Commercial Agreement In July 2020, the Company and Google entered into a Master Supply, Distribution, and Marketing Agreement (the “Google Commercial Agreement”), pursuant to which Google has agreed to supply the Company with certain Google devices as well as certain Google video and analytics services (“Google Devices and Services”), for sale to the Company’s customers. The Google Commercial Agreement also specifies that each party shall contribute $150 million toward joint marketing, customer acquisition, training of the Company’s employees, and product technology updates related to the Google Devices and Services. In August 2022, the Company and Google executed an amendment to the Google Commercial Agreement, pursuant to which Google has agreed to commit an additional $150 million to fund growth, data and insights, product innovation and technology advancements, customer acquisition, and marketing, as mutually agreed by the Company and Google, (together with the initial amounts, the “Google Success Funds”). During the six months ended June 30, 2024 and 2023, $15 million and $25 million, respectively, of the Google Success Funds were approved for reimbursement to the Company for certain joint marketing and customer acquisition expenses incurred by the Company and primarily recorded as a reduction to advertising expenses, of which the Company received $15 million during the six months ended June 30, 2024. Google Cloud Agreement Addendum In December 2023, the Company and Google entered into an addendum to the Company’s existing agreement with Google for using Google cloud services (the “Google Cloud Agreement Addendum”), pursuant to which Google has agreed to provide certain credits, discounts, and other incentives for use of the Google Cloud Platform to the Company, and the Company has committed to purchasing $200 million of Google Cloud Platform services over seven years (through December 2030), with $35 million in the first two years, $65 million in the next two years after that, and $100 million in the last three years of the commitment. The Company may elect to cancel the commitment in return for a cancellation fee of 30% of the total remaining commitment amount and loss of any discounts, remaining credits, or other incentives provided under the Google Cloud Agreement Addendum. During the six months ended June 30, 2024, the Company made purchases toward this commitment of $10 million. Other Commitments During the fourth quarter of 2023, the Company entered into an agreement with one of its vendors to purchase at least $190 million of security system equipment and components through March 2025. During the second quarter of 2024, the Company increased its commitment by approximately $130 million. This commitment is also satisfied through purchases made by the Company’s dealer network. During the six months ended June 30, 2024, purchases toward this commitment were $100 million. Guarantees In the normal course of business, the Company is liable for contract completion and product performance. As of June 30, 2024 and December 31, 2023, the Company’s guarantees primarily relate to standby letters of credit related to its insurance programs and totaled $78 million for both periods, respectively. The Company does not believe such obligations will materially affect its financial position, results of operations, or cash flows. Legal Proceedings The Company is subject to various claims and lawsuits in the ordinary course of business, which include among other things commercial general liability claims, automobile liability claims, contractual disputes, worker’s compensation claims, labor law and employment claims, claims that the Company infringed on the intellectual property of others, and consumer and employment class actions. The Company is also subject to regulatory and governmental examinations, information requests and subpoenas, inquiries, investigations, and threatened legal actions and proceedings. In connection with such formal and informal inquiries, the Company receives numerous requests, subpoenas, and orders for documents, testimony, and information in connection with various aspects of its activities. There have been no material changes to these matters from those disclosed in the 2023 Annual Report. The Company records accruals for losses that are probable and reasonably estimable. These accruals are based on a variety of factors such as judgment, probability of loss, opinions of internal and external legal counsel, and actuarially determined estimates of claims incurred but not yet reported based upon historical claims experience. Legal costs in connection with claims and lawsuits in the ordinary course of business are expensed as incurred. Additionally, the Company records insurance recovery receivables or other indemnifications from third-parties when recovery has been determined to be probable. The Company has not accrued for any losses for which the likelihood of loss cannot be assessed, is less than probable, or the range of possible loss cannot be estimated. As of June 30, 2024 and December 31, 2023, the Company’s accrual for ongoing claims and lawsuits within the scope of an insurance program, including amounts related to the Solar Business, totaled $107 million and $110 million, respectively. The Company’s accrual related to ongoing claims and lawsuits not within the scope of an insurance program is not material.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
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, ADT LLC. Right-of-Use Assets and Lease Liabilities (in thousands) June 30, 2024 December 31, 2023 Presentation and Classification: Operating Current Prepaid expenses and other current assets $ 56 $ 68 Operating Non-current Other assets 82,889 85,649 Finance Non-current Property and equipment, net (1) 71,087 65,368 Total right-of-use assets $ 154,032 $ 151,085 Operating Current Accrued expenses and other current liabilities $ 19,282 $ 13,035 Finance Current Current maturities of long-term debt 26,841 25,741 Operating Non-current Other liabilities 76,786 80,189 Finance Non-current Long-term debt 49,878 43,727 Total lease liabilities $ 172,787 $ 162,692 _________________ (1) Finance right-of-use assets are recorded net of accumulated depreciation, which was approximately $58 million and $50 million as of June 30, 2024 and December 31, 2023, respectively. Lease Cost Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Operating lease cost $ 6,709 $ 7,888 $ 13,578 $ 15,990 Finance lease cost: Amortization of right-of-use assets 5,719 3,113 10,108 5,789 Interest on lease liabilities 1,322 405 2,405 785 Variable lease costs 8,872 9,136 15,727 19,820 Total lease cost $ 22,622 $ 20,542 $ 41,818 $ 42,384 Right-of-Use Assets Obtained in Exchange for Lease Obligations (1) Six Months Ended June 30, ( in thousands ) 2024 2023 Operating leases $ 8,930 $ 17,563 Finance leases $ 28,557 $ 33,116 _________________ (1) Includes both continuing and discontinued operations. 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, ADT LLC. Right-of-Use Assets and Lease Liabilities (in thousands) June 30, 2024 December 31, 2023 Presentation and Classification: Operating Current Prepaid expenses and other current assets $ 56 $ 68 Operating Non-current Other assets 82,889 85,649 Finance Non-current Property and equipment, net (1) 71,087 65,368 Total right-of-use assets $ 154,032 $ 151,085 Operating Current Accrued expenses and other current liabilities $ 19,282 $ 13,035 Finance Current Current maturities of long-term debt 26,841 25,741 Operating Non-current Other liabilities 76,786 80,189 Finance Non-current Long-term debt 49,878 43,727 Total lease liabilities $ 172,787 $ 162,692 _________________ (1) Finance right-of-use assets are recorded net of accumulated depreciation, which was approximately $58 million and $50 million as of June 30, 2024 and December 31, 2023, respectively. Lease Cost Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Operating lease cost $ 6,709 $ 7,888 $ 13,578 $ 15,990 Finance lease cost: Amortization of right-of-use assets 5,719 3,113 10,108 5,789 Interest on lease liabilities 1,322 405 2,405 785 Variable lease costs 8,872 9,136 15,727 19,820 Total lease cost $ 22,622 $ 20,542 $ 41,818 $ 42,384 Right-of-Use Assets Obtained in Exchange for Lease Obligations (1) Six Months Ended June 30, ( in thousands ) 2024 2023 Operating leases $ 8,930 $ 17,563 Finance leases $ 28,557 $ 33,116 _________________ (1) Includes both continuing and discontinued operations. 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, ADT LLC. Right-of-Use Assets and Lease Liabilities (in thousands) June 30, 2024 December 31, 2023 Presentation and Classification: Operating Current Prepaid expenses and other current assets $ 56 $ 68 Operating Non-current Other assets 82,889 85,649 Finance Non-current Property and equipment, net (1) 71,087 65,368 Total right-of-use assets $ 154,032 $ 151,085 Operating Current Accrued expenses and other current liabilities $ 19,282 $ 13,035 Finance Current Current maturities of long-term debt 26,841 25,741 Operating Non-current Other liabilities 76,786 80,189 Finance Non-current Long-term debt 49,878 43,727 Total lease liabilities $ 172,787 $ 162,692 _________________ (1) Finance right-of-use assets are recorded net of accumulated depreciation, which was approximately $58 million and $50 million as of June 30, 2024 and December 31, 2023, respectively. Lease Cost Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Operating lease cost $ 6,709 $ 7,888 $ 13,578 $ 15,990 Finance lease cost: Amortization of right-of-use assets 5,719 3,113 10,108 5,789 Interest on lease liabilities 1,322 405 2,405 785 Variable lease costs 8,872 9,136 15,727 19,820 Total lease cost $ 22,622 $ 20,542 $ 41,818 $ 42,384 Right-of-Use Assets Obtained in Exchange for Lease Obligations (1) Six Months Ended June 30, ( in thousands ) 2024 2023 Operating leases $ 8,930 $ 17,563 Finance leases $ 28,557 $ 33,116 _________________ (1) Includes both continuing and discontinued operations. 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company’s related party transactions primarily relate to products and services received from, or monitoring and related services provided to, other entities affiliated with Apollo, and, from time to time, management, consulting, and transaction advisory services provided by Apollo to the Company, as well as transactions between the Company and State Farm. There were no notable related party transactions during the periods presented other than as described below. Apollo Offering and Share Repurchase On March 6, 2024, the Company and certain entities managed by affiliates of Apollo Global Management, Inc. (the “Selling Stockholders”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. LLC and Barclays Capital Inc., as representatives of the underwriters named therein, including Apollo Global Securities, LLC, an affiliate of Apollo (collectively, the “Underwriters”), in connection with the offer and sale by the Selling Stockholders (the “Offering”) of 65 million shares of the Company’s Common Stock, and, at the option of the Underwriters, up to an additional 9.75 million shares of Common Stock (the “Underwriters’ Option”). As part of the Offering, the Company purchased 15 million shares of Common Stock under its Share Repurchase Plan from the Underwriters (the “Share Repurchase”). The Company paid approximately $93 million (or approximately $6.22 per share) for the Share Repurchase, which was the same per share price paid by the Underwriters to the Selling Stockholders. The repurchase is reflected as a reduction to additional paid-in-capital and as a financing cash outflow. The Offering and the Share Repurchase closed on March 11, 2024. On March 15, 2024, the Underwriters exercised the Underwriters’ Option in full, which subsequently closed on March 19, 2024. The Company did not pay any underwriting fees in connection with the Share Repurchase, including on behalf of the Selling Stockholders or otherwise. All the shares in the Offering were sold by the Selling Stockholders. The Company did not receive any of the proceeds from the sale of shares by the Selling Stockholders in the Offering. Other During the six months ended June 30, 2024, other fees incurred to Apollo were not material. During the six months ended June 30, 2023, the Company incurred fees to Apollo of $1 million related to Apollo’s performance of placement agent services related to the initial funding of the Term Loan A Facility. State Farm State Farm owns more than 10% of the Company’s issued and outstanding common stock, and as a result, is a related party. In October 2022, the Company, ADT LLC (an indirect wholly owned subsidiary of the Company), and State Farm entered into a development agreement (the “State Farm Development Agreement”) in connection with State Farm’s strategic investment in ADT. Pursuant to the State Farm Development Agreement, State Farm committed up to $300 million to fund certain initiatives as agreed to between the Company and State Farm related to the partnership (the “Opportunity Fund”), of which the Company has received $100 million. Amounts held by the Company in the Opportunity Fund will be restricted until the Company uses the funds, as agreed upon with State Farm, in accordance with the State Farm Development Agreement. As of June 30, 2024 and December 31, 2023, the balance in the portion of the Opportunity Fund held by the Company was $89 million and $94 million, respectively. During the six months ended June 30, 2024 and 2023, the Company made payments from the Opportunity Fund of $7 million and $5 million, respectively. Interest earned on the Opportunity Fund was not material. Sunlight Financial LLC ADT Solar used Sunlight Financial LLC (“Sunlight”), an entity previously affiliated with Apollo, to access certain loan products for ADT Solar customers. As of December 2023, Sunlight was no longer affiliated with Apollo, and as a result, was no longer a related party. During the three and six months ended June 30, 2023, total loans funded by Sunlight were $16 million and $61 million, respectively, and the Company incurred financing fees of $3 million and $9 million, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 92,394	$ 92,211	$ 183,945	$ (26,626)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

DESCRIPTION OF BUSINESS AND S_2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation The condensed consolidated financial statements included herein: • have been prepared in U.S. dollars in accordance with generally accepted accounting principles in the United States of America (“GAAP”); • comprise the consolidated results of ADT Inc. and its wholly-owned subsidiaries, and all intercompany transactions have been eliminated; • are unaudited, but in the opinion of management, include all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the Company’s financial position, results of operations, and cash flows for the interim periods presented; and • should not be taken as indicative of results that may be expected for future interim periods or the full year. The Condensed Consolidated Balance Sheet as of December 31, 2023 included herein was derived from the audited consolidated financial statements as of that date. Certain information and footnote disclosures required in the annual consolidated financial statements have been omitted as appropriate. For a more comprehensive understanding of the Company and its interim results, these condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”). In addition, the results of companies acquired (if applicable) are included from the effective dates of acquisition. Prior to the sale of its shares in SNTNL LLC (“Canopy”) during the fourth quarter of 2023, the Company used the equity method of accounting to account for its investment in Canopy as it had the ability to exercise significant influence but did not control. Certain prior period amounts have been reclassified to conform with the current period presentation. Significant Accounting Policies Unless otherwise noted, the Company’s accounting policies, including those discussed herein, do not materially differ from those disclosed in the 2023 Annual Report.
Discontinued Operations	Discontinued Operations In January 2024, the Company’s board of directors (the “Board of Directors” or the “Board”) approved a plan to fully exit the residential solar business (the “Solar Business”) (the “ADT Solar Exit”). The ADT Solar Exit represents a strategic shift that had a major effect on the Company’s financial results. As of June 30, 2024, substantially all operations of the Solar Business have ceased, with the results of operations and financial position of the Solar Business classified as discontinued operations in the Company’s Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets, respectively, for all periods presented. In addition, in August 2023, ADT entered into an agreement to divest its commercial business (the “Commercial Business”), which was completed in October 2023 (the “Commercial Divestiture”). As a result, the Commercial Business is presented as a discontinued operation in the Company’s Condensed Consolidated Statements of Operations for all periods presented. The cash flows and comprehensive income (loss) of discontinued operations have not been segregated and are included in the Condensed Consolidated Statements of Cash Flows and Condensed Consolidated Statements of Comprehensive Income (Loss), respectively, for all periods presented. Refer to Note 3 “Divestitures” for additional information on discontinued operations. Unless otherwise noted, amounts and disclosures throughout these Notes to Condensed Consolidated Financial Statements relate to the Company’s continuing operations.
Use of Estimates	Use of Estimates The preparation of these condensed consolidated financial statements in accordance with GAAP requires the Company to select accounting policies and make estimates that affect amounts reported in the condensed consolidated financial statements and the accompanying notes. The Company’s estimates are based on the relevant information available at the end of each period. Actual results could differ materially from these estimates under different assumptions or market conditions.
Segment Update	Segment Update Beginning in the second quarter of 2024, and as a result of the ADT Solar Exit, the Company currently reports its results in a single operating and reportable segment, which reflects the business operations of the Company’s former Consumer and Small Business (“CSB”) segment, based on the manner in which the Company’s Chief Executive Officer, who is the chief operating decision maker (the “CODM”) evaluates performance and makes decisions about how to allocate resources. Prior to the third quarter of 2023, the Commercial Business was reflected in the Commercial reportable segment, and prior to the second quarter of 2024, the Solar Business was reflected in the Solar reportable segment.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Supplier Finance Program Obligations - ASU 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, requires that a reporting entity who is a buyer in a supplier finance program disclose qualitative and quantitative information about its supplier finance programs, including a roll-forward of the obligations. The Company adopted the roll-forward requirement effective January 1, 2024. The Company does not currently have any material supplier finance programs, and the guidance will be applied prospectively to any future arrangements. Fair Value of Equity Investments - ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, states that an entity should not consider the impact of contractual sale restrictions when measuring an equity security’s fair value and introduces new disclosure requirements related to such equity securities. The Company adopted this guidance effective January 1, 2024. This guidance did not impact the Company. Recently Issued Accounting Pronouncements Disclosure Improvements - ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative , represents changes to clarify or improve disclosure and presentation requirements of a variety of topics. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is monitoring the potential impact of this guidance on its financial statements and disclosures. Segment Reporting - ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. In addition, the guidance, among other requirements, enhances interim disclosures, clarifies circumstances in which an entity can disclose multiple segment measures of profit or loss, and provides new segment disclosure requirements for entities with a single reportable segment. The amendments in this guidance are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. This guidance should be applied retrospectively to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its disclosures. Income Taxes - ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , focuses on improvements to income tax disclosures, primarily related to the rate reconciliation and income tax paid information. In addition, the update includes certain other amendments to improve the effectiveness of income tax disclosures. The guidance is effective for annual periods beginning after December 15, 2024, and should be applied prospectively, with retrospective application also a permitted option. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on its disclosures.
Inventories, net	Inventories, net Inventories, net includes finished goods and work-in-progress. Work-in-progress is not material.
Subscriber System Assets, net and Deferred Subscriber Acquisition Costs, net	Subscriber System Assets, net and Deferred Subscriber Acquisition Costs, 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, and which the Company may retrieve upon termination of the contract with the customer. Deferred subscriber acquisition costs represent selling expenses (primarily commissions) that are incremental to acquiring customers. Subscriber system assets and any related deferred subscriber acquisition costs are accounted for on a pooled basis based on the month and year of customer acquisition. The Company depreciates and amortizes these pooled costs using an accelerated method over the estimated life of the customer relationship, which is 15 years.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments primarily consist of cash and cash equivalents, restricted cash and restricted cash equivalents, accounts receivable, retail installment contract receivables, accounts payable, debt, and derivative financial instruments. Due to their short-term and/or liquid nature, the fair values of cash, restricted cash, accounts receivable, and accounts payable approximate their respective carrying amounts. Cash Equivalents - Included in cash and cash equivalents and restricted cash and restricted cash equivalents, as applicable from time to time, are investments in money market mutual funds. These investments are generally classified as Level 1 fair value measurements, which represent unadjusted quoted prices in active markets for identical assets or liabilities.
Long-Term Debt Instruments	Long-Term Debt Instruments - The fair values of the Company’s long-term debt instruments are determined using broker-quoted market prices, which represent quoted prices for similar assets or liabilities as well as other observable market data, and are classified as Level 2 fair value measurements. The carrying amounts of debt outstanding, if any, under the Company’s first lien revolving credit facility (the “First Lien Revolving Credit Facility”) and the 2020 Receivables Facility approximate their fair values as interest rates on these borrowings approximate current market rates.
Derivative Financial Instruments	Derivative Financial Instruments - Derivative financial instruments are reported at fair value as either assets or liabilities that are primarily calculated using discounted cash flow models utilizing observable inputs, such as quoted forward interest rates, and incorporate credit risk adjustments to reflect the risk of default by the counterparty or the Company. The resulting fair values are classified as Level 2 fair value measurements. Refer to Note 6 “Derivative Financial Instruments” for the fair values of the Company’s derivative financial instruments. The Company's derivative financial instruments primarily consist of interest rate swap contracts, which were entered into with the objective of managing exposure to variability in interest rates on the Company's debt. As of July 2023, SOFR is the applicable benchmark for all of the Company's interest rate swap contracts. All interest rate swap contracts are reported in the Condensed Consolidated Balance Sheets at fair value. For interest rate swap contracts that are: • Not designated as cash flow hedges: Unrealized gains and losses are recognized in interest expense, net, and other income (expense) depending on the nature of the underlying that the swaps are economically hedging. • Designated as cash flow hedges: Unrealized gains and losses are recognized as a component of accumulated other comprehensive income (loss) (“AOCI”) and are reclassified into interest expense, net, in the same period in which the related interest on debt affects earnings. For interest rate swap contracts that have been de-designated as cash flow hedges and for which forecasted cash flows are: • Probable or reasonably possible of occurring: Unrealized gains and losses previously recognized as a component of AOCI are reclassified into interest expense, net, in the same period in which the related interest on variable-rate debt affects earnings through the original maturity date of the related interest rate swap contracts. • Probable of not occurring: Unrealized gains and losses previously recognized as a component of AOCI are immediately reclassified into interest expense, net. The cash flows associated with interest rate swap contracts that included an other-than-insignificant financing element at inception are reflected as cash flows from financing activities. The cash flows associated with interest rate swap contracts that were entered into with the intention of offsetting the economic overhedged position of a portion of our existing interest rate swaps are reflected as cash flows from investing activities.
CSB Retail Installment Contract Receivables	Retail Installment Contract Receivables - The fair values of the Company’s retail installment contract receivables are determined using a discounted cash flow model and are classified as Level 3 fair value measurements. Retail Installment Contract Receivables, Net For security system transactions occurring under both Company-owned and customer-owned equipment models, the Company’s retail installment contract option allows qualifying residential customers to pay the fees due at installation over a 24-, 36-, or 60-month interest-free period, and there is no significant financing component. Upon origination of a retail installment contract, the Company utilizes external credit scores to assess customer credit quality and determine eligibility. Subsequent to origination, the Company monitors the delinquency status of retail installment contract receivables as the key credit quality indicator.
Revenue	Revenue The Company allocates the transaction price to each performance obligation based on the relative standalone selling price, which is determined using observable internal and external pricing, profitability, and operational metrics. In addition to the details provided below, the Company’s disaggregated revenue includes monitoring and related services and security installation, product, and other revenue, which are presented on the face of the Condensed Consolidated Statements of Operations. Company-Owned - In transactions in which the Company provides monitoring and related services but retains ownership of the security system (referred to as Company-owned transactions), the Company’s performance obligations primarily include (i) monitoring and related services, which are recognized when these services are provided to the customer, and (ii) a material right associated with the one-time non-refundable fees in connection with the initiation of a monitoring contract which the customer will not be required to pay again upon a renewal of the contract (referred to as deferred subscriber acquisition revenue). Deferred subscriber acquisition revenue is amortized on a pooled basis over the estimated life of the customer relationship using an accelerated method consistent with the treatment of subscriber system assets and deferred subscriber acquisition costs and is reflected in security installation, product, and other revenue. Customer-Owned - In transactions involving security systems sold outright to the customer (referred to as outright sales), the Company’s performance obligations generally include the sale and installation of the system, which is primarily recognized at a point in time based upon the nature of the transaction and contractual terms, and any monitoring and related services, which are recognized when these services are provided to the customer.
Allowance for Credit Losses	Allowance for Credit Losses The Company evaluates its allowance for credit losses on accounts receivable in pools based on customer type. For each customer pool, the allowance for credit losses is estimated based on the delinquency status of the underlying receivables and the related historical loss experience, as adjusted for current and expected future conditions, if applicable. The allowance for credit losses is not material for the individual pools of customers.
Contract Assets	Contract Assets Contract assets represent the Company’s right to consideration in exchange for goods or services transferred to the customer. The contract asset is reclassified to accounts receivable when the Company’s right to the consideration becomes unconditional, which generally occurs over the course of a 24-, 36-, or 60-month period as additional services are performed and billed. There is no significant financing component.
Net Income (Loss) Per Share	The Company applies the two-class method for computing and presenting net income (loss) per share for each class of common stock, which allocates current period net income (loss) to each class of common stock and participating securities based on dividends declared and participation rights in the remaining undistributed earnings or losses. Basic net income (loss) per share is computed by dividing the net income (loss) allocated to each class of common stock by the related weighted-average number of shares outstanding during the period. Diluted net income (loss) per share gives effect to all securities representing potential common shares that were dilutive and outstanding during the period for each class of common stock and excludes potentially dilutive securities whose effect would have been anti-dilutive.
Legal Proceedings	Legal Proceedings The Company is subject to various claims and lawsuits in the ordinary course of business, which include among other things commercial general liability claims, automobile liability claims, contractual disputes, worker’s compensation claims, labor law and employment claims, claims that the Company infringed on the intellectual property of others, and consumer and employment class actions. The Company is also subject to regulatory and governmental examinations, information requests and subpoenas, inquiries, investigations, and threatened legal actions and proceedings. In connection with such formal and informal inquiries, the Company receives numerous requests, subpoenas, and orders for documents, testimony, and information in connection with various aspects of its activities. There have been no material changes to these matters from those disclosed in the 2023 Annual Report. The Company records accruals for losses that are probable and reasonably estimable. These accruals are based on a variety of factors such as judgment, probability of loss, opinions of internal and external legal counsel, and actuarially determined estimates of claims incurred but not yet reported based upon historical claims experience. Legal costs in connection with claims and lawsuits in the ordinary course of business are expensed as incurred. Additionally, the Company records insurance recovery receivables or other indemnifications from third-parties when recovery has been determined to be probable. The Company has not accrued for any losses for which the likelihood of loss cannot be assessed, is less than probable, or the range of possible loss cannot be estimated.
Company as Lessee	Company as Lessee As part of normal operations, the Company leases real estate, vehicles, and equipment primarily through its main operating entity, ADT LLC.
Company as Lessor	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.

DESCRIPTION OF BUSINESS AND S_3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table reconciles the amounts below reported in the Condensed Consolidated Balance Sheets to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2024 December 31, 2023 Cash and cash equivalents $ 37,883 $ 14,621 Restricted cash and restricted cash equivalents (1) 111,034 115,329 Ending balance $ 148,917 $ 129,950 ________________ (1) Primarily includes funds received from State Farm Fire & Casualty Company (“State Farm”), net of payments and inclusive of interest earned, in connection with the State Farm Development Agreement (as defined and discussed in Note 13 “Related Party Transactions”). The remaining amount of restricted cash relates to the Company’s uncommitted receivables securitization financing agreement (the “ 2020 Receivables Facility”). Refer to Note 5 “Debt.”
Schedule of Subscriber System Assets	(in thousands) June 30, 2024 December 31, 2023 Gross carrying amount $ 6,665,977 $ 6,404,479 Accumulated depreciation (3,647,231) (3,398,543) Subscriber system assets, net $ 3,018,746 $ 3,005,936
Schedule of Subscriber System Asset and Deferred Subscriber Acquisition Costs of Depreciation and Amortization	Depreciation of subscriber system assets and amortization of deferred subscriber acquisition costs are reflected in depreciation and intangible asset amortization and selling, general, and administrative expenses (“SG&A”), respectively, as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Depreciation of subscriber system assets $ 139,306 $ 134,894 $ 277,609 $ 272,325 Amortization of deferred subscriber acquisition costs $ 54,730 $ 45,968 $ 109,335 $ 90,200
Schedule of Accrued Expenses and Other Current Liabilities	(in thousands) June 30, 2024 December 31, 2023 Accrued interest $ 124,457 $ 111,197 Payroll-related accruals 82,422 110,941 Opportunity Fund (see Note 13 “Related Party Transactions”) 89,254 93,950 Operating lease liabilities (see Note 12 “Leases”) 19,282 13,035 Accrued dividends 50,042 32,207 Other accrued liabilities 239,440 194,784 Accrued expenses and other current liabilities $ 604,897 $ 556,114
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments and Securities	June 30, 2024 December 31, 2023 (in thousands) Carrying Fair Carrying Fair Long-term debt instruments subject to fair value disclosures (1) $ 7,647,751 $ 7,576,484 $ 7,756,049 $ 7,731,408 ________________ (1) Excludes finance leases and certain vehicle loans reported as discontinued operations.
Schedule of Carrying Values and Fair Values of Retail Installment Contract Receivables	June 30, 2024 December 31, 2023 (in thousands) Carrying Fair Carrying Fair Retail installment contract receivables, net $ 675,362 $ 494,758 $ 673,635 $ 487,685

REVENUE AND RECEIVABLES (Tables

REVENUE AND RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Amortization of Deferred Subscriber Acquisition Revenue	Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Amortization of deferred subscriber acquisition revenue $ 86,182 $ 73,610 $ 169,558 $ 143,308
Allowance for Credit Loss Rollforward	Six Months Ended June 30, (in thousands) 2024 2023 Beginning balance $ 46,850 $ 27,815 Provision for credit losses 73,707 54,185 Write-offs, net of recoveries (1) (63,341) (50,073) Ending balance $ 57,216 $ 31,927 ________________ (1) Recoveries were not material for the periods presented. As such, the Company presented write-offs, net of recoveries.
Schedule of Unbilled Retail Installment Contract Receivables, Net	The balance of unbilled retail installment contract receivables comprises: (in thousands) June 30, 2024 December 31, 2023 Retail installment contract receivables, gross $ 681,852 $ 674,827 Allowance for credit losses (6,490) (1,192) Retail installment contract receivables, net $ 675,362 $ 673,635 Balance Sheet Classification: Accounts receivable, net $ 252,365 $ 238,961 Other assets 422,997 434,674 Retail installment contract receivables, net $ 675,362 $ 673,635
Summary of Contracts Assets	The balance of contract assets for residential transactions comprises: (in thousands) June 30, 2024 December 31, 2023 Contract assets, gross $ 40,551 $ 39,627 Allowance for credit losses (5,121) (9,025) Contract assets, net $ 35,430 $ 30,602 Balance Sheet Classification: Prepaid expenses and other current assets $ 17,527 $ 15,365 Other assets 17,903 15,237 Contract assets, net $ 35,430 $ 30,602

DIVESTITURES (Tables)

DIVESTITURES (Tables)	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations	Balance Sheet Information (in thousands) June 30, 2024 December 31, 2023 Assets Accounts receivable, net $ 1,089 $ 20,270 Inventories, net 1,894 28,714 Prepaid expenses and other current assets 3,207 11,973 Total current assets of discontinued operations 6,190 60,957 Property and equipment, net 2,451 29,512 Other assets 112 13,767 Total assets of discontinued operations $ 8,753 $ 104,236 Liabilities Current maturities of long-term debt $ 476 $ 8,551 Accounts payable 7,199 16,682 Deferred revenue 461 9,177 Accrued expenses and other current liabilities 40,566 45,201 Total current liabilities of discontinued operations 48,702 79,611 Long-term debt 2,442 9,893 Other liabilities 13,099 10,679 Total liabilities of discontinued operations $ 64,243 $ 100,183 Statements of Operations Information Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Revenue $ 1,656 $ 77,532 $ 21,295 $ 222,367 Cost of revenue 19,837 64,898 61,359 163,242 Selling, general, and administrative expenses 11,877 50,896 51,768 109,071 Depreciation and intangible asset amortization 466 4,939 1,817 8,896 Merger, restructuring, integration, and other 4,622 2,180 38,150 3,418 Goodwill impairment — 181,179 — 422,809 Other (income) and expense items (8) 415 1,473 784 Income (loss) from discontinued operations before income taxes (35,138) (226,975) (133,272) (485,853) Income tax benefit (expense) 9,601 44,229 35,376 136,763 Income (loss) from discontinued operations, net of tax $ (25,537) $ (182,746) $ (97,896) $ (349,090) Cash Flow Information Six Months Ended June 30, (in thousands) 2024 2023 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and intangible asset amortization $ 1,817 $ 8,896 Goodwill impairment $ — $ 422,809 Cash flows from investing activities: Purchases of property and equipment $ (80) $ (2,675) (in thousands) Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Revenue $ 347,519 $ 682,562 Cost of revenue 231,068 455,101 Selling, general, and administrative expenses 71,657 140,512 Depreciation and intangible asset amortization 20,173 40,877 Other (income) and expense items 7,974 10,408 Income (loss) from discontinued operations before income taxes 16,647 35,664 Income tax benefit (expense) 77,872 66,799 Income (loss) from discontinued operations, net of tax $ 94,519 $ 102,463 (in thousands) Six Months Ended June 30, 2023 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and intangible asset amortization $ 40,877 Share-based compensation expense $ 6,001 Cash flows from investing activities: Subscriber system asset expenditures $ (6,212) Purchases of property and equipment $ (5,764)

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	June 30, 2024 December 31, 2023 (in thousands) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Definite-lived intangible assets: Contracts and related customer relationships $ 5,831,213 $ (3,197,319) $ 2,633,894 $ 5,571,456 $ (2,937,245) $ 2,634,211 Dealer relationships 1,518,020 (657,761) 860,259 1,518,020 (618,154) 899,866 Other 209,773 (201,117) 8,656 209,773 (199,357) 10,416 Total definite-lived intangible assets 7,559,006 (4,056,197) 3,502,809 7,299,249 (3,754,756) 3,544,493 Indefinite-lived intangible assets: Trade name 1,333,000 — 1,333,000 1,333,000 — 1,333,000 Intangible assets $ 8,892,006 $ (4,056,197) $ 4,835,809 $ 8,632,249 $ (3,754,756) $ 4,877,493
Schedule of Finite-Lived Intangible Assets	June 30, 2024 December 31, 2023 (in thousands) Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Definite-lived intangible assets: Contracts and related customer relationships $ 5,831,213 $ (3,197,319) $ 2,633,894 $ 5,571,456 $ (2,937,245) $ 2,634,211 Dealer relationships 1,518,020 (657,761) 860,259 1,518,020 (618,154) 899,866 Other 209,773 (201,117) 8,656 209,773 (199,357) 10,416 Total definite-lived intangible assets 7,559,006 (4,056,197) 3,502,809 7,299,249 (3,754,756) 3,544,493 Indefinite-lived intangible assets: Trade name 1,333,000 — 1,333,000 1,333,000 — 1,333,000 Intangible assets $ 8,892,006 $ (4,056,197) $ 4,835,809 $ 8,632,249 $ (3,754,756) $ 4,877,493 The change in the net carrying amount of contracts and related customer relationships during the period was as follows: (in thousands) Balance as of December 31, 2023 $ 2,634,211 Customer contract additions, net of dealer charge-backs (1) 259,858 Amortization (260,175) Balance as of June 30, 2024 $ 2,633,894 ________________ (1) The weighted-average amortization period for customer contract additions was approximately 15 years.
Schedule of Finite-Lived Intangible Assets, Amortization Expense	Definite-Lived Intangible Asset Amortization Expense Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Definite-lived intangible asset amortization expense $ 150,644 $ 146,163 $ 301,542 $ 323,643

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company’s debt is comprised of the following (in thousands) : Description Issued Maturity Interest Rate (1) Interest Payable June 30, 2024 December 31, 2023 First Lien Term Loan B due 2030 10/13/2023 10/13/2030 Term SOFR +2.25% Quarterly $ 1,989,063 $ 1,375,000 First Lien Revolving Credit Facility 3/16/2018 6/23/2026 Term SOFR +2.75% Quarterly — — Term Loan A Facility 3/14/2023 3/14/2028 Term SOFR +2.25% Quarterly — 625,625 First Lien Notes due 2024 4/4/2019 4/15/2024 5.250% 2/15 and 8/15 — 99,999 First Lien Notes due 2026 4/4/2019 4/15/2026 5.750% 3/15 and 9/15 1,350,000 1,350,000 First Lien Notes due 2027 8/20/2020 8/31/2027 3.375% 6/15 and 12/15 1,000,000 1,000,000 First Lien Notes due 2029 7/29/2021 8/1/2029 4.125% 2/1 and 8/1 1,000,000 1,000,000 ADT Notes due 2032 5/2/2016 7/15/2032 4.875% 1/15 and 7/15 728,016 728,016 ADT Notes due 2042 7/5/2012 7/15/2042 4.875% 1/15 and 7/15 21,896 21,896 Second Lien Notes due 2028 1/28/2020 1/15/2028 6.250% 1/15 and 7/15 1,300,000 1,300,000 2020 Receivables Facility (2) 3/5/2020 5/20/2029 Various Monthly 423,855 436,004 Total debt principal, excluding finance leases 7,812,830 7,936,540 Plus: Finance lease liabilities (3) 76,719 69,468 Less: Unamortized debt discount, net (12,436) (15,005) Less: Unamortized deferred financing costs (32,132) (39,620) Less: Unamortized purchase accounting fair value adjustment and other (120,511) (125,866) Total debt 7,724,470 7,825,517 Less: Current maturities of long-term debt, net of unamortized debt discount (192,220) (312,061) Long-term debt $ 7,532,250 $ 7,513,456 _________________ (1) Interest rate as of June 30, 2024 . Interest on the 2020 Receivables Facility is primarily based on the Secured Overnight Financing Rate (“SOFR”) + 0.95 (2) Maturity date for the 2020 Receivables Facility represents the final maturity date of current loans borrowed under the facility. (3) Refer to Note 12 “Leases” for additional information regarding the Company’s finance leases.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	As of June 30, 2024 and December 31, 2023, the Company’s interest rate swaps consisted of the following (in thousands) : Execution Maturity Designation Notional Amount October 2019 September 2026 Not designated $ 2,800,000 March 2023 March 2028 Not designated 100,000 April 2023 March 2028 Not designated 200,000 December 2023 (1) September 2026 Not designated 700,000 Total notional amount $ 3,800,000 _________________ (1) Interest rate swaps entered into to offset the excess notional interest rate swaps as a result of the partial redemption of the First Lien Term Loan B due 2026. The changes in fair value associated with these swaps and the over-hedged swaps are reflected in other income (expense).
Schedule of Derivative Liabilities at Fair Value	(in thousands) June 30, 2024 December 31, 2023 Prepaid expenses and other current assets $ 82,164 $ 74,974 Other assets $ 81,312 $ 76,493 Accrued expenses and other current liabilities $ 7,396 $ 5,312 Other liabilities $ 583 $ 1,325
Schedule of Unrealized Gain (Loss) on Interest Rate Swaps	Three Months Ended June 30, Six Months Ended June 30, Statement of Operations Classification (in thousands) 2024 2023 2024 2023 Interest expense, net $ (5,125) $ 54,613 $ 11,622 $ 22,097 Other income (expense) $ (3,277) $ — $ (9,878) $ —
Reclassification out of Accumulated Other Comprehensive Income	Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Interest expense, net $ 1,985 $ 4,729 $ 4,114 $ 10,178 Income tax (benefit) expense $ (481) $ (1,143) $ (993) $ (2,457)

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Dividends Declared	(in thousands, except per share data) Common Stock Class B Common Stock Declaration Date Record Date Payment Date Per Share Aggregate Per Share Aggregate Six Months Ended June 30, 2024 1/24/2024 3/14/2024 4/4/2024 $ 0.055 $ 47,059 $ 0.055 $ 3,011 4/25/2024 6/13/2024 7/9/2024 0.055 47,137 0.055 3,011 Total $ 0.110 $ 94,196 $ 0.110 $ 6,022 Six Months Ended June 30, 2023 2/28/2023 3/16/2023 4/4/2023 $ 0.035 $ 30,342 $ 0.035 $ 1,916 5/2/2023 6/15/2023 7/6/2023 0.035 30,256 0.035 1,916 Total $ 0.070 $ 60,598 $ 0.070 $ 3,832

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The Company used a binomial lattice model to determine the grant date fair value for options granted and included the following assumptions: Expected exercise term (years) 7 Expected volatility (1) 49.9% Expected dividend yield (2) 3.4% Risk-free interest rate (3) 4.0% _________________ (1) Estimated using historical and implied stock price volatility of the Company. (2) Calculated by taking the annual dividend run-rate and dividing by the stock price at date of grant. (3) Based on the U.S. Treasury yield curve.

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended June 30, Six Months Ended June 30, in thousands, except per share amounts 2024 2023 2024 2023 Allocation of income (loss) from continuing operations - basic $ 118,589 $ 169,679 $ 272,664 $ 206,807 Dilutive effect 3,299 2,452 6,739 4,440 Allocation of income (loss) from continuing operations - diluted $ 121,888 $ 172,131 $ 279,403 $ 211,247 Allocation of income (loss) from discontinued operations, net of tax - basic $ (31,756) $ (82,967) $ (99,771) $ (231,801) Dilutive effect — — — — Allocation of income (loss) from discontinued operations, net of tax - diluted $ (31,756) $ (82,967) $ (99,771) $ (231,801) Weighted-average shares outstanding - basic 848,273 857,581 852,083 855,949 Dilutive effect (1) 60,855 59,278 61,392 63,271 Weighted-average shares outstanding - diluted 909,128 916,859 913,475 919,220 Income (loss) from continuing operations per share - basic $ 0.14 $ 0.20 $ 0.32 $ 0.24 Income (loss) from continuing operations per share - diluted $ 0.13 $ 0.19 $ 0.30 $ 0.23 Income (loss) per share from discontinued operations, net of tax - basic $ (0.04) $ (0.10) $ (0.12) $ (0.27) Income (loss) per share from discontinued operations, net of tax - diluted $ (0.03) $ (0.09) $ (0.11) $ (0.25) _________________ (1) During the three and six months ended June 30, 2024, 22 million and 19 million shares of Common Stock that would be dilutive were excluded from the diluted earnings per share calculations because their effects would have been anti-dilutive. During the three and six months ended June 30, 2023, 25 million and 18 million shares of Common Stock that would be dilutive were excluded from the diluted earnings per share calculations because their effects would have been anti-dilutive. Three Months Ended June 30, Six Months Ended June 30, in thousands, except per share amounts 2024 2023 2024 2023 Allocation of net income (loss) from continuing operations - basic $ 7,596 $ 10,759 $ 17,412 $ 13,194 Dilutive effect (288) (536) (717) (608) Allocation of net income (loss) from continuing operations - diluted $ 7,308 $ 10,223 $ 16,695 $ 12,586 Allocation of income (loss) from discontinued operations, net of tax - basic $ (2,035) $ (5,260) $ (6,360) $ (14,826) Dilutive effect — — — — Allocation of income (loss) from discontinued operations, net of tax - diluted $ (2,035) $ (5,260) $ (6,360) $ (14,826) Weighted-average shares outstanding - basic 54,745 54,745 54,745 54,745 Dilutive effect (1) — — — — Weighted-average shares outstanding - diluted 54,745 54,745 54,745 54,745 Net income (loss) from continuing operations per share - basic $ 0.14 $ 0.20 $ 0.32 $ 0.24 Net income (loss) from continuing operations per share - diluted $ 0.13 $ 0.19 $ 0.30 $ 0.23 Income (loss) per share from discontinued operations, net of tax - basic $ (0.04) $ (0.10) $ (0.12) $ (0.27) Income (loss) per share from discontinued operations, net of tax - diluted $ (0.03) $ (0.09) $ (0.11) $ (0.25) ________________ (1) There were no potential shares of Class B Common Stock during the periods presented.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Consolidated Balance Sheet Information Related to Leases	(in thousands) June 30, 2024 December 31, 2023 Presentation and Classification: Operating Current Prepaid expenses and other current assets $ 56 $ 68 Operating Non-current Other assets 82,889 85,649 Finance Non-current Property and equipment, net (1) 71,087 65,368 Total right-of-use assets $ 154,032 $ 151,085 Operating Current Accrued expenses and other current liabilities $ 19,282 $ 13,035 Finance Current Current maturities of long-term debt 26,841 25,741 Operating Non-current Other liabilities 76,786 80,189 Finance Non-current Long-term debt 49,878 43,727 Total lease liabilities $ 172,787 $ 162,692 _________________ (1) Finance right-of-use assets are recorded net of accumulated depreciation, which was approximately $58 million and $50 million as of June 30, 2024 and December 31, 2023, respectively.
Schedule of Lease Cost	Three Months Ended June 30, Six Months Ended June 30, ( in thousands ) 2024 2023 2024 2023 Operating lease cost $ 6,709 $ 7,888 $ 13,578 $ 15,990 Finance lease cost: Amortization of right-of-use assets 5,719 3,113 10,108 5,789 Interest on lease liabilities 1,322 405 2,405 785 Variable lease costs 8,872 9,136 15,727 19,820 Total lease cost $ 22,622 $ 20,542 $ 41,818 $ 42,384
Supplementary Cash Flow Information	Six Months Ended June 30, ( in thousands ) 2024 2023 Operating leases $ 8,930 $ 17,563 Finance leases $ 28,557 $ 33,116 _________________ (1) Includes both continuing and discontinued operations.

DESCRIPTION OF BUSINESS AND S_4

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
	Mar. 06, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Mar. 19, 2024	Dec. 31, 2023
Accounting Policies [Line Items]
Revenue from contract with customer, term of customer relationship				15 years
Money market funds		$ 57		$ 57		$ 55
Apollo
Accounting Policies [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners					50%
Apollo | Related Party
Accounting Policies [Line Items]
Treasury stock, shares, acquired (in shares)	15	0	15

DESCRIPTION OF BUSINESS AND S_5

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 37,883	$ 14,621
Restricted cash and restricted cash equivalents	111,034	115,329
Ending balance	$ 148,917	$ 129,950	$ 260,800	$ 373,580

DESCRIPTION OF BUSINESS AND S_6

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Subscriber System Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Gross carrying amount	$ 6,665,977	$ 6,404,479
Accumulated depreciation	(3,647,231)	(3,398,543)
Subscriber system assets, net	$ 3,018,746	$ 3,005,936

DESCRIPTION OF BUSINESS AND S_7

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Subscriber System Asset and Deferred Subscriber Acquisition Costs of Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Depreciation of subscriber system assets	$ 139,306	$ 134,894	$ 277,609	$ 272,325
Amortization of deferred subscriber acquisition costs	$ 54,730	$ 45,968	$ 109,335	$ 90,200

DESCRIPTION OF BUSINESS AND S_8

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Accrued interest	$ 124,457	$ 111,197
Payroll-related accruals	82,422	110,941
Opportunity fund	89,254	93,950
Operating lease liabilities	19,282	13,035
Accrued dividends	50,042	32,207
Other accrued liabilities	239,440	194,784
Accrued expenses and other current liabilities	$ 604,897	$ 556,114

DESCRIPTION OF BUSINESS AND S_9

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments and Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Carrying Amount
Accounting Policies [Line Items]
Long-term debt instruments subject to fair value disclosures	$ 7,647,751	$ 7,756,049
Fair Value
Accounting Policies [Line Items]
Long-term debt instruments subject to fair value disclosures	$ 7,576,484	$ 7,731,408

DESCRIPTION OF BUSINESS AND _10

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Carrying Values and Fair Values of Retail Installment Contract Receivables (Details) - Retail Installment Contract - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Line Items]
Retail installment contract receivables, net	$ 675,362	$ 673,635
Retail installment contract receivable, fair value	$ 494,758	$ 487,685

REVENUE AND RECEIVABLES - Amort

REVENUE AND RECEIVABLES - Amortization of Deferred Subscriber Acquisition Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Amortization of deferred subscriber acquisition revenue	$ 86,182	$ 73,610	$ 169,558	$ 143,308

REVENUE AND RECEIVABLES - Allow

REVENUE AND RECEIVABLES - Allowance for Credit Loss Rollforward (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 46,850	$ 27,815
Provision for credit losses	73,707	54,185
Write-offs, net of recoveries	(63,341)	(50,073)
Ending balance	$ 57,216	$ 31,927

REVENUE AND RECEIVABLES - Sched

REVENUE AND RECEIVABLES - Schedule of Unbilled Retail Installment Contract Receivables, Net (Details) - Retail Installment Contract - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Retail installment contract receivables, gross	$ 681,852	$ 674,827
Allowance for credit losses	(6,490)	(1,192)
Retail installment contract receivables, net	675,362	673,635
Accounts receivable, net
Capitalized Contract Cost [Line Items]
Retail installment contract receivables, net	252,365	238,961
Other assets
Capitalized Contract Cost [Line Items]
Retail installment contract receivables, net	$ 422,997	$ 434,674

REVENUE AND RECEIVABLES - Narra

REVENUE AND RECEIVABLES - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity, Primary Beneficiary
Capitalized Contract Cost [Line Items]
Transfers accounted for as secured borrowings, assets, carrying amount	$ 611	$ 610

REVENUE AND RECEIVABLES - Summa

REVENUE AND RECEIVABLES - Summary of Contracts Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Contract assets, gross	$ 40,551	$ 39,627
Allowance for credit losses	(5,121)	(9,025)
Contract assets, net	35,430	30,602
Prepaid expenses and other current assets
Capitalized Contract Cost [Line Items]
Contract assets, net	17,527	15,365
Other assets
Capitalized Contract Cost [Line Items]
Contract assets, net	$ 17,903	$ 15,237

DIVESTITURES - Narrative (Detai

DIVESTITURES - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 02, 2023	Jul. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			$ (33,791)	$ (88,227)	$ (106,131)	$ (246,627)
Other income (expense)			11,550	$ 519	27,172	$ (671)
ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			(13,000)		(89,000)
Payments for employee severance costs			18,000
Commercial Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Noncash or part noncash divestiture, amount of consideration received	$ 1,613,000
Proceeds from disposition of business	$ 1,585,000
Other income (expense)			11,000		22,000
Increase (decrease) in divestiture of businesses			8,000		8,000
Commercial Divestiture | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, post-closing adjustment expense		$ 21,000
Write-down and Disposition of Inventory and Asset Impairments | ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			(1,000)		(36,000)
Disposition of Existing Installation Pipeline | ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			(10,000)		(29,000)
Employee Separation Costs | ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			(1,000)		(12,000)
Contract Termination and Other Charges | ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			$ (2,000)		$ (12,000)

DIVESTITURES - Schedule of Disp

DIVESTITURES - Schedule of Disposal Groups, Including Discontinued Operations, Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Total current assets of discontinued operations	$ 6,190	$ 60,957
Liabilities
Total current liabilities of discontinued operations	48,702	79,611
Discontinued Operations, Disposed of by Sale | ADT Solar Exit
Assets
Accounts receivable, net	1,089	20,270
Inventories, net	1,894	28,714
Prepaid expenses and other current assets	3,207	11,973
Total current assets of discontinued operations	6,190	60,957
Property and equipment, net	2,451	29,512
Other assets	112	13,767
Total assets of discontinued operations	8,753	104,236
Liabilities
Current maturities of long-term debt	476	8,551
Accounts payable	7,199	16,682
Deferred revenue	461	9,177
Accrued expenses and other current liabilities	40,566	45,201
Total current liabilities of discontinued operations	48,702	79,611
Long-term debt	2,442	9,893
Other liabilities	13,099	10,679
Total liabilities of discontinued operations	$ 64,243	$ 100,183

DIVESTITURES - Schedule of Di_2

DIVESTITURES - Schedule of Disposal Groups, Including Discontinued Operations, Statements of Operation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	$ (33,791)	$ (88,227)	$ (106,131)	$ (246,627)
ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax	(13,000)		(89,000)
Discontinued Operations, Disposed of by Sale | ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	1,656	77,532	21,295	222,367
Cost of revenue	19,837	64,898	61,359	163,242
Selling, general, and administrative expenses	11,877	50,896	51,768	109,071
Depreciation and intangible asset amortization	466	4,939	1,817	8,896
Merger, restructuring, integration, and other	4,622	2,180	38,150	3,418
Goodwill impairment	0	181,179	0	422,809
Other (income) and expense items	(8)	415	1,473	784
Income (loss) from discontinued operations before income taxes	(35,138)	(226,975)	(133,272)	(485,853)
Income tax benefit (expense)	9,601	44,229	35,376	136,763
Income (loss) from discontinued operations, net of tax	$ (25,537)	(182,746)	$ (97,896)	(349,090)
Discontinued Operations, Disposed of by Sale | Commercial Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue		347,519		682,562
Cost of revenue		231,068		455,101
Selling, general, and administrative expenses		71,657		140,512
Depreciation and intangible asset amortization		20,173		40,877
Other (income) and expense items		7,974		10,408
Income (loss) from discontinued operations before income taxes		16,647		35,664
Income tax benefit (expense)		77,872		66,799
Income (loss) from discontinued operations, net of tax		$ 94,519		$ 102,463

DIVESTITURES - Schedule of Di_3

DIVESTITURES - Schedule of Disposal Groups, Including Discontinued Operations, Cash Flow (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
ADT Solar Exit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and intangible asset amortization	$ 1,817	$ 8,896
Goodwill impairment	0	422,809
Purchases of property and equipment	$ (80)	(2,675)
Commercial Divestiture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and intangible asset amortization		40,877
Share-based compensation expense		6,001
Subscriber system asset expenditures		(6,212)
Purchases of property and equipment		$ (5,764)

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Gross Carrying Amounts and Accumulated Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Definite-lived intangible assets:
Gross Carrying Amount	$ 7,559,006	$ 7,299,249
Accumulated Amortization	(4,056,197)	(3,754,756)
Net Carrying Amount	3,502,809	3,544,493
Indefinite-lived intangible assets:
Intangible assets, gross (excluding goodwill), total	8,892,006	8,632,249
Total intangible assets, net carrying amount	4,835,809	4,877,493
Trade name
Indefinite-lived intangible assets:
Trade name	1,333,000	1,333,000
Contracts and related customer relationships
Definite-lived intangible assets:
Gross Carrying Amount	5,831,213	5,571,456
Accumulated Amortization	(3,197,319)	(2,937,245)
Net Carrying Amount	2,633,894	2,634,211
Dealer relationships
Definite-lived intangible assets:
Gross Carrying Amount	1,518,020	1,518,020
Accumulated Amortization	(657,761)	(618,154)
Net Carrying Amount	860,259	899,866
Other
Definite-lived intangible assets:
Gross Carrying Amount	209,773	209,773
Accumulated Amortization	(201,117)	(199,357)
Net Carrying Amount	$ 8,656	$ 10,416

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Net Carrying Amount of Contracts and Related Customer Relationships (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-lived Intangible Assets [Roll Forward]
Balance as of beginning of period			$ 3,544,493
Amortization	$ (150,644)	$ (146,163)	(301,542)	$ (323,643)
Balance as of end of period	3,502,809		3,502,809
Contracts and related customer relationships
Finite-lived Intangible Assets [Roll Forward]
Balance as of beginning of period			2,634,211
Amortization			(260,175)
Balance as of end of period	$ 2,633,894		$ 2,633,894
Acquired finite-lived intangible assets, weighted average useful life			15 years
Customer Contracts
Finite-lived Intangible Assets [Roll Forward]
Customer contract additions, net of dealer charge-backs			$ 259,858

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Finite-lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Definite-lived intangible asset amortization expense	$ 150,644	$ 146,163	$ 301,542	$ 323,643

DEBT - Schedule of Long-term De

DEBT - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Apr. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt principal, excluding finance leases		$ 7,812,830	$ 7,936,540
Plus: Finance lease liabilities		76,719	69,468
Less: Unamortized debt discount, net		(12,436)	(15,005)
Less: Unamortized deferred financing costs		(32,132)	(39,620)
Less: Unamortized purchase accounting fair value adjustment and other		(120,511)	(125,866)
Total debt		7,724,470	7,825,517
Less: Current maturities of long-term debt, net of unamortized debt discount		(192,220)	(312,061)
Long-term debt		$ 7,532,250	$ 7,513,456
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	SOFR	SOFR	SOFR
First Lien Term Loan B due 2030 | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,989,063	$ 1,375,000
First Lien Term Loan B due 2030 | Secured Debt | SOFR
Debt Instrument [Line Items]
Interest rate		2.25%
First Lien Revolving Credit Facility | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross		$ 0	0
First Lien Revolving Credit Facility | Secured Debt | SOFR
Debt Instrument [Line Items]
Interest rate		2.75%
Term Loan A Facility | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross		$ 0	625,625
Term Loan A Facility | Secured Debt | SOFR
Debt Instrument [Line Items]
Interest rate		2.25%
First Lien Notes due 2024 | Secured Debt
Debt Instrument [Line Items]
Interest rate		5.25%
Long-term debt, gross		$ 0	99,999
First Lien Notes due 2026 | Secured Debt
Debt Instrument [Line Items]
Interest rate		5.75%
Long-term debt, gross		$ 1,350,000	1,350,000
First Lien Notes due 2027 | Secured Debt
Debt Instrument [Line Items]
Interest rate		3.375%
Long-term debt, gross		$ 1,000,000	1,000,000
First Lien Notes due 2029 | Secured Debt
Debt Instrument [Line Items]
Interest rate		4.125%
Long-term debt, gross		$ 1,000,000	1,000,000
ADT Notes due 2032 | Secured Debt
Debt Instrument [Line Items]
Interest rate		4.875%
Long-term debt, gross		$ 728,016	728,016
ADT Notes due 2042 | Secured Debt
Debt Instrument [Line Items]
Interest rate		4.875%
Long-term debt, gross		$ 21,896	21,896
Second Lien Notes due 2028 | Secured Debt
Debt Instrument [Line Items]
Interest rate		6.25%
Long-term debt, gross		$ 1,300,000	1,300,000
2020 Receivables Facility | Secured Debt
Debt Instrument [Line Items]
Long-term debt, gross		$ 423,855	$ 436,004
2020 Receivables Facility | Secured Debt | SOFR
Debt Instrument [Line Items]
Interest rate		0.95%
2020 Receivables Facility | Secured Debt | COF
Debt Instrument [Line Items]
Interest rate		0.85%

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		6 Months Ended	12 Months Ended
	May 31, 2024	Apr. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Apr. 30, 2025	Aug. 02, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		SOFR	SOFR	SOFR
First Lien Term Loan B due 2030 | Secured Debt
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%		2.50%
Exchanged debt, principal amount	$ 143
Line of credit facility, increase (decrease), net	474
Proceeds from (repayments of) lines of credit	646
Term Loan A Facility | Secured Debt
Debt Instrument [Line Items]
Extinguishment of debt, amount	$ 474
ADT Notes Due 2024 | Secured Debt
Debt Instrument [Line Items]
Extinguishment of debt, amount		$ 100
2020 Receivables Facility
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity			$ 126
Proceeds from (repayments of) secured debt		32
Receivables facility maximum limit		$ 500
2020 Receivables Facility | Subsequent Event
Debt Instrument [Line Items]
Receivables facility maximum limit					$ 550
Revolving Credit Facility | First Lien Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Proceeds from lines of credit			260
Repayments of lines of credit			260
Line of credit facility, remaining borrowing capacity			$ 575
Aggregate principal amount							$ 0
Revolving Credit Facility | Solar Receivables Financing Agreement | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 300

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 3,800,000
October 2019 - Not Designated | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	2,800,000
March 2023 - Not Designated | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	100,000
April 2023 - Not Designated | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	200,000
December 2023 - Not Designated | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 700,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Prepaid expenses and other current assets	$ 240,928	$ 242,192
Other assets	727,023	699,231
Accrued expenses and other current liabilities	604,897	556,114
Other liabilities	199,713	219,069
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Prepaid expenses and other current assets	82,164	74,974
Other assets	81,312	76,493
Other liabilities	583	1,325
Interest Rate Swap | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accrued expenses and other current liabilities	$ 7,396	$ 5,312

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Unrealized Gain (Loss) on Interest Rate Swaps (Details) - Interest Rate Swap - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest expense, net	$ (5,125)	$ 54,613	$ 11,622	$ 22,097
Other income (expense)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest expense, net	$ (3,277)	$ 0	$ (9,878)	$ 0

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Reclassification out of Accumulated Other Comprehensive Income (Details) - Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest expense, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax	$ 1,985	$ 4,729	$ 4,114	$ 10,178
Income tax (benefit) expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification from accumulated other comprehensive income, current period, before tax	$ (481)	$ (1,143)	$ (993)	$ (2,457)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accumulated other comprehensive income (loss)	$ (12,927)	$ (16,162)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Accumulated other comprehensive income (loss)	$ 10,000	$ (13,000)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Decrease in unrecognized tax benefits is reasonably possible	$ 29,000		$ 29,000
Income tax expense (benefit)	$ 59,840	$ 66,963	$ 116,270	$ 85,560
Effective tax rate	32.20%	26.90%	28.60%	27.60%
Federal statutory income tax rate, percent	21%	21%	21%	21%
State and local income taxes, percent	5.90%	5%	5.60%	6.10%
Impact of prior year income taxes, percent	(5.00%)		(2.30%)
Effective income tax rate reconciliation, goodwill impairment, percent				0.015
Effective income tax rate reconciliation, tax credit, percent				1%

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions							3 Months Ended		6 Months Ended
	Aug. 01, 2024 $ / shares	Apr. 25, 2024 $ / shares	Mar. 06, 2024 USD ($) $ / shares shares	Jan. 24, 2024 USD ($) $ / shares	May 02, 2023 $ / shares	Feb. 28, 2023 $ / shares	Jun. 30, 2024 USD ($) shares	Mar. 31, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) class $ / shares	Jun. 30, 2023 $ / shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of class of common stock | class									2
Stock repurchase program, authorized amount | $				$ 350
Common Stock
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cash dividends declared per common share (in dollars per share) | $ / shares		$ 0.055		$ 0.055	$ 0.035	$ 0.035			$ 0.110	$ 0.070
Common Stock | Subsequent Event
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cash dividends declared per common share (in dollars per share) | $ / shares	$ 0.055
Apollo | Related Party
Accumulated Other Comprehensive Income (Loss) [Line Items]
Treasury stock, shares, acquired (in shares) | shares			15				0	15
Treasury stock, value, acquired, cost method | $			$ 93					$ 93
Shares acquired, average cost per share (in dollars per share) | $ / shares			$ 6.22					$ 6.22
Stock repurchase program, remaining authorized repurchase amount | $							$ 257		$ 257

EQUITY - Schedule of Dividends

EQUITY - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands					6 Months Ended
	Apr. 25, 2024	Jan. 24, 2024	May 02, 2023	Feb. 28, 2023	Jun. 30, 2024	Jun. 30, 2023
Common Stock
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.055	$ 0.055	$ 0.035	$ 0.035	$ 0.110	$ 0.070
Common Stock | Dividend Declared
Accumulated Other Comprehensive Income (Loss) [Line Items]
Dividends, common stock	$ 47,137	$ 47,059	$ 30,256	$ 30,342	$ 94,196	$ 60,598
Common Class B
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cash dividends declared per common share (in dollars per share)	$ 0.055	$ 0.055	$ 0.035	$ 0.035	$ 0.110	$ 0.070
Common Class B | Dividend Declared
Accumulated Other Comprehensive Income (Loss) [Line Items]
Dividends, common stock	$ 3,011	$ 3,011	$ 1,916	$ 1,916	$ 6,022	$ 3,832

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense			$ 29,387	$ 27,488
Share-based Compensation, 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)		6.8
Share-based compensation arrangements by share-based payment award, options, grants in period, weighted average exercise price (in dollars per share)		$ 6.51
Share-based compensation arrangement by share-based payment award, options, exercisable, weighted average remaining contractual term		10 years
Share-based compensation arrangement by Share-based payment award, options, grants in period, weighted average grant date fair value (in dollars per share)		$ 2.56
Restricted Stock Units (RSUs) | Share-based Compensation, 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted in period (in shares)		3.9
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value (in dollars per share)		$ 6.51
Share-based compensation arrangement by share-based payment award, award vesting period		3 years
Options | Share-based Compensation, 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period		3 years
Modified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 11,000

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Options - Share-based Compensation, 2018 Plan	6 Months Ended
	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected exercise term (years)	7 years
Expected volatility	49.90%
Expected dividend yield	3.40%
Risk-free interest rate	4%

NET INCOME (LOSS) PER SHARE - N

NET INCOME (LOSS) PER SHARE - Narrative (Details) - shares shares in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	7	9

NET INCOME (LOSS) PER SHARE - S

NET INCOME (LOSS) PER SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	22,000	25,000	19,000	18,000
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of income (loss) from continuing operations - basic	$ 118,589	$ 169,679	$ 272,664	$ 206,807
Dilutive effect	3,299	2,452	6,739	4,440
Allocation of income (loss) from continuing operations - diluted	121,888	172,131	279,403	211,247
Allocation of income (loss) from discontinued operations, net of tax - basic	(31,756)	(82,967)	(99,771)	(231,801)
Dilutive effect	0	0	0	0
Allocation of income (loss) from discontinued operations, net of tax - diluted	$ (31,756)	$ (82,967)	$ (99,771)	$ (231,801)
Weighted-average shares outstanding - basic (in shares)	848,273	857,581	852,083	855,949
Dilutive effect (including conversion of Class B Common Stock) (in shares)	60,855	59,278	61,392	63,271
Weighted average number of shares - diluted common stock and Class B common stock (in shares)	909,128	916,859	913,475	919,220
Income (loss) from continuing operations per share - basic (in dollars per share)	$ 0.14	$ 0.20	$ 0.32	$ 0.24
Income (loss) from continuing operations per share - diluted (in dollars per share)	0.13	0.19	0.30	0.23
Income (loss) per share from discontinued operations, net of tax - basic (in dollars per share)	(0.04)	(0.10)	(0.12)	(0.27)
Income (loss) per share from discontinued operations, net of tax - diluted (in dollars per share)	$ (0.03)	$ (0.09)	$ (0.11)	$ (0.25)
Common Class B
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of income (loss) from continuing operations - basic	$ 7,596	$ 10,759	$ 17,412	$ 13,194
Dilutive effect	(288)	(536)	(717)	(608)
Allocation of income (loss) from continuing operations - diluted	7,308	10,223	16,695	12,586
Allocation of income (loss) from discontinued operations, net of tax - basic	(2,035)	(5,260)	(6,360)	(14,826)
Dilutive effect	0	0	0	0
Allocation of income (loss) from discontinued operations, net of tax - diluted	$ (2,035)	$ (5,260)	$ (6,360)	$ (14,826)
Weighted-average shares outstanding - basic (in shares)	54,745	54,745	54,745	54,745
Dilutive effect (including conversion of Class B Common Stock) (in shares)	0	0	0	0
Weighted average number of shares - diluted common stock and Class B common stock (in shares)	54,745	54,745	54,745	54,745
Income (loss) from continuing operations per share - basic (in dollars per share)	$ 0.14	$ 0.20	$ 0.32	$ 0.24
Income (loss) from continuing operations per share - diluted (in dollars per share)	0.13	0.19	0.30	0.23
Income (loss) per share from discontinued operations, net of tax - basic (in dollars per share)	(0.04)	(0.10)	(0.12)	(0.27)
Income (loss) per share from discontinued operations, net of tax - diluted (in dollars per share)	$ (0.03)	$ (0.09)	$ (0.11)	$ (0.25)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	1 Months Ended		3 Months Ended	6 Months Ended		12 Months Ended
	Aug. 31, 2022 USD ($)	Jul. 31, 2020 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) vendor
Loss Contingencies [Line Items]
Purchase commitment, term						7 years
Guarantor obligations, maximum exposure, undiscounted			$ 78	$ 78		$ 78
Insured Claims
Loss Contingencies [Line Items]
Loss contingency accrual			107	107		110
Google
Loss Contingencies [Line Items]
Purchase obligation			10	10		200
Purchase obligation, to be paid, year one and two						35
Purchase obligation, to be paid, year three and four						65
Purchase obligation, to be paid, after year four						$ 100
Purchase obligation, cancelation fee percentage of total remaining amount						30%
Google | First Two Years
Loss Contingencies [Line Items]
Purchase commitment, term						2 years
Google | Next Two Years
Loss Contingencies [Line Items]
Purchase commitment, term						2 years
Google | Last Three Years
Loss Contingencies [Line Items]
Purchase commitment, term						3 years
Google | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Loss Contingencies [Line Items]
Future milestone contributions		$ 150
Additional future milestone contributions	$ 150
Collaborative arrangement, reimbursement approve				15	$ 25
Recovery of direct costs				15
Other Commitments
Loss Contingencies [Line Items]
Purchase obligation			100	$ 100		$ 190
Number of vendors | vendor						1
Increase (decrease) in purchase obligation			$ 130

LEASES - Schedule of Consolidat

LEASES - Schedule of Consolidated Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease, right-of-use asset, current	$ 56	$ 68
Operating lease, right-of-use asset, non-current	82,889	85,649
Finance lease, right-of-use asset, non-current	71,087	65,368
Total right-of-use assets	154,032	151,085
Operating lease, liability, current	19,282	13,035
Finance lease, liability, current	26,841	25,741
Operating lease, liability, noncurrent	76,786	80,189
Finance lease, liability, noncurrent	49,878	43,727
Total lease liabilities	172,787	162,692
Finance lease, right-of-use asset, accumulated amortization	$ 58,000	$ 50,000
Operating lease, right-of-use asset, statement of financial position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Operating lease, liability, statement of financial position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance lease, liability, statement of financial position [Extensible Enumeration]	Current maturities of long-term debt	Current maturities of long-term debt
Operating lease, liability, noncurrent, statement of financial position [Extensible Enumeration]	Other liabilities	Other liabilities
Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]	Long-term debt	Long-term debt

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease cost	$ 6,709	$ 7,888	$ 13,578	$ 15,990
Amortization of right-of-use assets	5,719	3,113	10,108	5,789
Interest on lease liabilities	1,322	405	2,405	785
Variable lease costs	8,872	9,136	15,727	19,820
Total lease cost	$ 22,622	$ 20,542	$ 41,818	$ 42,384

LEASES - Supplementary Cash Flo

LEASES - Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Right-of-use assets obtained in exchange for lease obligations - operating leases	$ 8,930	$ 17,563
Right-of-use assets obtained in exchange for lease obligations - finance leases	$ 28,557	$ 33,116

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended			6 Months Ended
	Mar. 06, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Oct. 31, 2022
Related Party Transaction [Line Items]
Opportunity funds, maximum investment amount								$ 300,000
Opportunity funds, investment amount received								$ 100,000
Opportunity fund		$ 89,254			$ 89,254		$ 93,950
Payments for opportunity fund					$ 7,000	$ 5,000
ADT | Common Stock | State Farm
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners		10%			10%
Related Party | Loan Agreement
Related Party Transaction [Line Items]
Amounts of transaction				$ 3,000		9,000
Proceeds from related party debt				$ 16,000		61,000
Apollo | Related Party
Related Party Transaction [Line Items]
Treasury stock, shares, acquired (in shares)	15,000	0	15,000
Treasury stock, value, acquired, cost method	$ 93,000		$ 93,000
Shares acquired, average cost per share (in dollars per share)	$ 6.22		$ 6.22
Apollo | Related Party | Term Loan A Facility
Related Party Transaction [Line Items]
Amounts of transaction					$ 0	$ 1,000
Apollo | Related Party | The Offering
Related Party Transaction [Line Items]
Shares issued in public offering (in shares)	65,000
Apollo | Related Party | Over-Allotment Option
Related Party Transaction [Line Items]
Shares issued in public offering (in shares)	9,750