adt-20240331

000170305612/312024Q1FALSEP3Yhttp://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrenthttp://fasb.org/us-gaap/2023#PrepaidExpenseAndOtherAssetsCurrenthttp://fasb.org/us-gaap/2023#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2023#PropertyPlantAndEquipmentNethttp://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligationsCurrenthttp://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligationsCurrenthttp://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrenthttp://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligationshttp://fasb.org/us-gaap/2023#LongTermDebtAndCapitalLeaseObligations

Canopy Investment

In April 2022, the Company and Ford Motor Company (“Ford”) formed the entity, SNTNL LLC (“Canopy”). Canopy meets the definition of a variable interest entity (“VIE”) because the Company holds a variable interest through its 40% investment in Canopy’s preferred class of equity (the “Canopy Investment”) and fees received under various commercial agreements between the Company and Canopy. The Company is not the primary beneficiary, and therefore, does not consolidate Canopy’s assets, liabilities, and financial results of operations. As a result, the Company accounts for its investment in Canopy under the equity method of accounting.

The impact to the Company’s condensed consolidated financial statements as a result of the Canopy Investment or the commercial agreements was not material during the periods presented.

As of March 31, 2024 and December 31, 2023, the Canopy Investment’s carrying amount was approximately $12 million and $7 million, respectively, and is presented in other assets. The balance primarily reflects the initial contribution, plus an additional investment of approximately $5 million during the first quarter of 2023, as well as the Company’s proportionate share of Canopy’s cumulative net earnings or losses.

Subsequent event -40127500017030562024-01-012024-03-310001703056us-gaap:CommonStockMember2024-04-17xbrli:shares0001703056us-gaap:CommonClassBMember2024-04-1700017030562024-03-31iso4217:USD00017030562023-12-31iso4217:USDxbrli:shares0001703056us-gaap:CommonStockMember2024-03-310001703056us-gaap:CommonStockMember2023-12-310001703056us-gaap:CommonClassBMember2023-12-310001703056us-gaap:CommonClassBMember2024-03-310001703056adt:MonitoringAndRelatedServicesMember2024-01-012024-03-310001703056adt:MonitoringAndRelatedServicesMember2023-01-012023-03-310001703056adt:SecurityInstallationProductAndOtherMember2024-01-012024-03-310001703056adt:SecurityInstallationProductAndOtherMember2023-01-012023-03-310001703056adt:SolarInstallationProductAndOtherMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherMember2023-01-012023-03-3100017030562023-01-012023-03-310001703056us-gaap:CommonStockMember2024-01-012024-03-310001703056us-gaap:CommonStockMember2023-01-012023-03-310001703056us-gaap:CommonClassBMember2024-01-012024-03-310001703056us-gaap:CommonClassBMember2023-01-012023-03-310001703056us-gaap:CommonStockMemberus-gaap:CommonStockMember2023-12-310001703056us-gaap:CommonClassBMemberus-gaap:CommonStockMember2023-12-310001703056us-gaap:AdditionalPaidInCapitalMember2023-12-310001703056us-gaap:RetainedEarningsMember2023-12-310001703056us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001703056us-gaap:RetainedEarningsMember2024-01-012024-03-310001703056us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-03-310001703056us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310001703056us-gaap:CommonStockMemberus-gaap:CommonStockMember2024-01-012024-03-310001703056us-gaap:CommonStockMemberus-gaap:CommonStockMember2024-03-310001703056us-gaap:CommonClassBMemberus-gaap:CommonStockMember2024-03-310001703056us-gaap:AdditionalPaidInCapitalMember2024-03-310001703056us-gaap:RetainedEarningsMember2024-03-310001703056us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-03-310001703056us-gaap:CommonStockMemberus-gaap:CommonStockMember2022-12-310001703056us-gaap:CommonClassBMemberus-gaap:CommonStockMember2022-12-310001703056us-gaap:AdditionalPaidInCapitalMember2022-12-310001703056us-gaap:RetainedEarningsMember2022-12-310001703056us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-3100017030562022-12-310001703056us-gaap:RetainedEarningsMember2023-01-012023-03-310001703056us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-03-310001703056us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001703056us-gaap:CommonStockMemberus-gaap:CommonStockMember2023-01-012023-03-310001703056us-gaap:CommonStockMemberus-gaap:CommonStockMember2023-03-310001703056us-gaap:CommonClassBMemberus-gaap:CommonStockMember2023-03-310001703056us-gaap:AdditionalPaidInCapitalMember2023-03-310001703056us-gaap:RetainedEarningsMember2023-03-310001703056us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100017030562023-03-310001703056us-gaap:RelatedPartyMemberadt:ApolloMember2024-03-062024-03-060001703056adt:ApolloMember2024-03-19xbrli:pureadt:segment0001703056us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310001703056us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310001703056us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001703056us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001703056adt:RetailInstallmentContractMember2024-03-310001703056adt:RetailInstallmentContractMember2023-12-310001703056adt:SolarEquipmentMember2024-01-012024-03-310001703056adt:SolarEquipmentMember2023-01-012023-03-310001703056us-gaap:TradeAccountsReceivableMemberadt:RetailInstallmentContractMember2024-03-310001703056us-gaap:TradeAccountsReceivableMemberadt:RetailInstallmentContractMember2023-12-310001703056adt:RetailInstallmentContractMemberus-gaap:OtherAssetsMember2024-03-310001703056adt:RetailInstallmentContractMemberus-gaap:OtherAssetsMember2023-12-310001703056us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-03-310001703056us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001703056us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2024-03-310001703056us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember2023-12-310001703056us-gaap:OtherAssetsMember2024-03-310001703056us-gaap:OtherAssetsMember2023-12-310001703056adt:ConsumeAndSmallBusinessMember2024-01-012024-03-310001703056adt:ConsumeAndSmallBusinessMember2023-01-012023-03-310001703056adt:SolarMember2024-01-012024-03-310001703056adt:SolarMember2023-01-012023-03-310001703056adt:ConsumeAndSmallBusinessMemberus-gaap:OperatingSegmentsMember2024-01-012024-03-310001703056adt:ConsumeAndSmallBusinessMemberus-gaap:OperatingSegmentsMember2023-01-012023-03-310001703056us-gaap:OperatingSegmentsMemberadt:SolarMember2024-01-012024-03-310001703056us-gaap:OperatingSegmentsMemberadt:SolarMember2023-01-012023-03-310001703056us-gaap:OperatingSegmentsMember2024-01-012024-03-310001703056us-gaap:OperatingSegmentsMember2023-01-012023-03-310001703056us-gaap:MaterialReconcilingItemsMember2024-01-012024-03-310001703056us-gaap:MaterialReconcilingItemsMember2023-01-012023-03-310001703056adt:MergerRestructuringIntegrationAndOtherMember2024-01-012024-03-310001703056adt:DispositionOfExistingInstallationPipelineMember2024-01-012024-03-310001703056adt:WriteDownAndDispositionOfInventoryMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherCostOfRevenueMemberus-gaap:EmployeeSeveranceMember2024-01-012024-03-310001703056us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:EmployeeSeveranceMember2024-01-012024-03-310001703056adt:MergerRestructuringIntegrationAndOtherMemberus-gaap:EmployeeSeveranceMember2024-01-012024-03-310001703056us-gaap:EmployeeSeveranceMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherCostOfRevenueMemberadt:AssetImpairmentsAndWriteOffsMember2024-01-012024-03-310001703056us-gaap:SellingGeneralAndAdministrativeExpensesMemberadt:AssetImpairmentsAndWriteOffsMember2024-01-012024-03-310001703056adt:MergerRestructuringIntegrationAndOtherMemberadt:AssetImpairmentsAndWriteOffsMember2024-01-012024-03-310001703056adt:AssetImpairmentsAndWriteOffsMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherCostOfRevenueMemberus-gaap:ContractTerminationMember2024-01-012024-03-310001703056us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:ContractTerminationMember2024-01-012024-03-310001703056adt:MergerRestructuringIntegrationAndOtherMemberus-gaap:ContractTerminationMember2024-01-012024-03-310001703056us-gaap:ContractTerminationMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherCostOfRevenueMemberadt:WriteDownAndDispositionOfInventoryMember2024-01-012024-03-310001703056us-gaap:SellingGeneralAndAdministrativeExpensesMemberadt:WriteDownAndDispositionOfInventoryMember2024-01-012024-03-310001703056adt:MergerRestructuringIntegrationAndOtherMemberadt:WriteDownAndDispositionOfInventoryMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherCostOfRevenueMemberus-gaap:OtherRestructuringMember2024-01-012024-03-310001703056us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:OtherRestructuringMember2024-01-012024-03-310001703056adt:MergerRestructuringIntegrationAndOtherMemberus-gaap:OtherRestructuringMember2024-01-012024-03-310001703056us-gaap:OtherRestructuringMember2024-01-012024-03-310001703056adt:SolarInstallationProductAndOtherCostOfRevenueMember2024-01-012024-03-310001703056us-gaap:SellingGeneralAndAdministrativeExpensesMember2024-01-012024-03-310001703056adt:MergerRestructuringIntegrationAndOtherMember2024-01-012024-03-310001703056adt:CommercialDivestitureMember2023-10-022023-10-020001703056adt:CommercialDivestitureMemberus-gaap:DiscontinuedOperationsDisposedOfBySaleMember2023-01-012023-03-310001703056adt:CommercialDivestitureMember2024-01-012024-03-310001703056adt:SolarMember2023-12-310001703056adt:SolarMember2024-03-3100017030562023-07-012023-09-300001703056us-gaap:CustomerRelatedIntangibleAssetsMember2024-03-310001703056us-gaap:CustomerRelatedIntangibleAssetsMember2023-12-310001703056adt:DealerRelationshipsMember2024-03-310001703056adt:DealerRelationshipsMember2023-12-310001703056us-gaap:OtherIntangibleAssetsMember2024-03-310001703056us-gaap:OtherIntangibleAssetsMember2023-12-310001703056us-gaap:TradeNamesMember2024-03-310001703056us-gaap:TradeNamesMember2023-12-310001703056us-gaap:CustomerContractsMember2024-01-012024-03-310001703056us-gaap:CustomerRelatedIntangibleAssetsMember2024-01-012024-03-310001703056us-gaap:SecuredDebtMemberadt:SecuredOvernightFinancingRateSOFRMemberadt:FirstLienTermLoanBDue2030Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:FirstLienTermLoanBDue2030Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:FirstLienTermLoanBDue2030Member2023-12-310001703056us-gaap:SecuredDebtMemberadt:SecuredOvernightFinancingRateSOFRMemberadt:FirstLienRevolvingCreditFacilityMember2024-03-310001703056us-gaap:SecuredDebtMemberadt:FirstLienRevolvingCreditFacilityMember2024-03-310001703056us-gaap:SecuredDebtMemberadt:FirstLienRevolvingCreditFacilityMember2023-12-310001703056us-gaap:SecuredDebtMemberadt:TermLoanAFacilityMemberadt:SecuredOvernightFinancingRateSOFRMember2024-03-310001703056us-gaap:SecuredDebtMemberadt:TermLoanAFacilityMember2024-03-310001703056us-gaap:SecuredDebtMemberadt:TermLoanAFacilityMember2023-12-310001703056us-gaap:SecuredDebtMemberadt:FirstLineNotesDue2024Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:FirstLineNotesDue2024Member2023-12-310001703056adt:FirstLienNotesDue2026Memberus-gaap:SecuredDebtMember2024-03-310001703056adt:FirstLienNotesDue2026Memberus-gaap:SecuredDebtMember2023-12-310001703056us-gaap:SecuredDebtMemberadt:FirstLienNotesDue2027Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:FirstLienNotesDue2027Member2023-12-310001703056adt:FirstLienNotesDue2029Memberus-gaap:SecuredDebtMember2024-03-310001703056adt:FirstLienNotesDue2029Memberus-gaap:SecuredDebtMember2023-12-310001703056us-gaap:SecuredDebtMemberadt:ADTNotesdue2032Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:ADTNotesdue2032Member2023-12-310001703056us-gaap:SecuredDebtMemberadt:ADTNotesdue2042Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:ADTNotesdue2042Member2023-12-310001703056us-gaap:SecuredDebtMemberadt:SecondLienNotesDue2028Member2024-03-310001703056us-gaap:SecuredDebtMemberadt:SecondLienNotesDue2028Member2023-12-310001703056us-gaap:SecuredDebtMemberadt:ReceivablesFacilityMember2024-03-310001703056us-gaap:SecuredDebtMemberadt:ReceivablesFacilityMember2023-12-310001703056us-gaap:SecuredDebtMember2024-03-310001703056us-gaap:SecuredDebtMember2023-12-310001703056us-gaap:SecuredDebtMemberadt:SecuredOvernightFinancingRateSOFRMemberadt:ReceivablesFacilityMember2024-03-310001703056adt:CostOfFundRateCOFMemberus-gaap:SecuredDebtMemberadt:ReceivablesFacilityMember2024-03-310001703056us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMemberadt:FirstLienRevolvingCreditFacilityMember2024-01-012024-03-310001703056us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMemberadt:FirstLienRevolvingCreditFacilityMember2024-03-310001703056us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMemberadt:FirstLienRevolvingCreditFacilityMember2023-03-310001703056us-gaap:SecuredDebtMemberadt:SecuredOvernightFinancingRateSOFRMemberadt:FirstLienTermLoanBDue2030Member2024-01-012024-03-310001703056us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberadt:SecuredOvernightFinancingRateSOFRMemberadt:FirstLienTermLoanBDue2030Member2024-04-012024-04-300001703056us-gaap:SubsequentEventMemberus-gaap:SecuredDebtMemberadt:ADTNotesDue2024Member2024-04-012024-04-300001703056adt:ReceivablesFacilityMember2024-03-310001703056us-gaap:SubsequentEventMemberadt:ReceivablesFacilityMember2024-04-300001703056adt:SolarReceivablesFinancingAgreementMemberus-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2023-08-020001703056us-gaap:NondesignatedMemberadt:October2019NotDesignatedMember2024-03-310001703056adt:March2023NotDesignatedMemberus-gaap:NondesignatedMember2024-03-310001703056us-gaap:NondesignatedMemberadt:April2023NotDesignatedMember2024-03-310001703056adt:December2023NotDesignatedMemberus-gaap:NondesignatedMember2024-03-310001703056us-gaap:InterestRateSwapMember2024-03-310001703056us-gaap:InterestRateSwapMember2023-12-310001703056us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2024-03-310001703056us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2023-12-310001703056us-gaap:InterestRateSwapMemberus-gaap:InterestExpenseMember2024-01-012024-03-310001703056us-gaap:InterestRateSwapMemberus-gaap:InterestExpenseMember2023-01-012023-03-310001703056us-gaap:InterestRateSwapMemberus-gaap:OtherOperatingIncomeExpenseMember2024-01-012024-03-310001703056us-gaap:InterestRateSwapMemberus-gaap:OtherOperatingIncomeExpenseMember2023-01-012023-03-310001703056us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:InterestExpenseMember2024-01-012024-03-310001703056us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:InterestExpenseMember2023-01-012023-03-310001703056adt:IncomeTaxExpenseBenefitMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-01-012024-03-310001703056adt:IncomeTaxExpenseBenefitMemberus-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-01-012023-03-310001703056us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-03-310001703056us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-31adt:class00017030562024-01-240001703056us-gaap:RelatedPartyMemberadt:ApolloMember2024-01-012024-03-310001703056us-gaap:RelatedPartyMemberadt:ApolloMember2024-03-310001703056us-gaap:CommonStockMember2024-01-242024-01-240001703056us-gaap:DividendDeclaredMemberus-gaap:CommonStockMember2024-01-242024-01-240001703056us-gaap:CommonClassBMember2024-01-242024-01-240001703056us-gaap:DividendDeclaredMemberus-gaap:CommonClassBMember2024-01-242024-01-240001703056us-gaap:CommonStockMember2023-02-282023-02-280001703056us-gaap:DividendDeclaredMemberus-gaap:CommonStockMember2023-02-282023-02-280001703056us-gaap:CommonClassBMember2023-02-282023-02-280001703056us-gaap:DividendDeclaredMemberus-gaap:CommonClassBMember2023-02-282023-02-280001703056us-gaap:SubsequentEventMemberus-gaap:CommonStockMember2024-04-252024-04-250001703056adt:SharebasedCompensation2018PlanMemberus-gaap:RestrictedStockUnitsRSUMember2024-01-012024-03-310001703056adt:SharebasedCompensation2018PlanMember2024-01-012024-03-310001703056adt:SharebasedCompensation2018PlanMemberus-gaap:EmployeeStockOptionMember2024-01-012024-03-310001703056adt:GoogleMemberus-gaap:CollaborativeArrangementTransactionWithPartyToCollaborativeArrangementMember2020-07-012020-07-310001703056adt:GoogleMemberus-gaap:CollaborativeArrangementTransactionWithPartyToCollaborativeArrangementMember2022-08-012022-08-310001703056adt:GoogleMemberus-gaap:CollaborativeArrangementTransactionWithPartyToCollaborativeArrangementMember2024-01-012024-03-310001703056adt:GoogleMemberus-gaap:CollaborativeArrangementTransactionWithPartyToCollaborativeArrangementMember2023-01-012023-03-310001703056adt:GoogleMember2023-12-3100017030562023-01-012023-12-310001703056adt:GoogleMemberadt:FirstTwoYearsMember2023-01-012023-12-310001703056adt:GoogleMemberadt:NextTwoYearsMember2023-01-012023-12-310001703056adt:GoogleMemberadt:LastThreeYearsMember2023-01-012023-12-310001703056adt:GoogleMember2024-03-310001703056adt:OtherCommitmentsMember2023-12-31adt:vendor0001703056adt:OtherCommitmentsMember2024-03-310001703056adt:InsuredClaimsMember2024-03-310001703056adt:InsuredClaimsMember2023-12-310001703056us-gaap:RelatedPartyMemberadt:TheOfferingMemberadt:ApolloMember2024-03-062024-03-060001703056us-gaap:RelatedPartyMemberadt:ApolloMemberus-gaap:OverAllotmentOptionMember2024-03-062024-03-060001703056us-gaap:RelatedPartyMemberadt:TermLoanAFacilityMemberadt:ApolloMember2023-03-012023-03-310001703056adt:ADTMemberus-gaap:CommonStockMemberadt:StateFarmMember2022-10-1300017030562022-10-130001703056us-gaap:RelatedPartyMemberadt:SunlightFinancialLLCLoanAgreementMember2023-01-012023-03-310001703056adt:CanopyMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-04-012022-04-300001703056adt:CanopyMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-03-310001703056adt:CanopyMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-12-310001703056adt:CanopyMember2023-07-012023-09-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


(Mark One)
☒			Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended March 31, 2024


☐			Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to __________

Commission File Number: 001-38352

ADT Inc.

(Exact name of registrant as specified in its charter)


Delaware						47-4116383
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

1501 Yamato Road

Boca Raton, Florida 33431

(561) 988-3600

(Address of principal executive offices, zip code, registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

ADT

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☒

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 17, 2024, there were 855,629,403 shares outstanding of the registrant’s common stock, $0.01 par value per share, and 54,744,525 shares outstanding of the registrant’s Class B common stock, $0.01 par value per share.

TABLE OF CONTENTS


		Page

Part I	Financial Information
Item 1.	Financial Statements	1
	Condensed Consolidated Balance Sheets (Unaudited)	1
	Condensed Consolidated Statements of Operations (Unaudited)	2
	Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)	3
	Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)	4
	Condensed Consolidated Statements of Cash Flows (Unaudited)	5
	Notes to Condensed Consolidated Financial Statements (Unaudited)
	1. Description of Business and Summary of Significant Accounting Policies	6
	2. Revenue and Receivables	9
	3. Segment Information	11

	4. Divestitures	13

	5. Goodwill and Other Intangible Assets	15
	6. Debt	17
	7. Derivative Financial Instruments	18
	8. Income Taxes	20
	9. Equity	20
	10. Share-Based Compensation	21
	11. Net Income (Loss) Per Share	22
	12. Commitments and Contingencies	23
	13. Leases	25
	14. Related Party Transactions

SEC Form 10-Q filed by ADT Inc.