v3.25.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company reports results in a single operating and reportable segment.
The Company’s CODM is its Chairman, President, and Chief Executive Officer. The CODM evaluates performance and allocates resources on a consolidated basis using various measures primarily through reviews of various operational performance packages, earnings releases, investor presentations, and the Company’s SEC filings, as well as through the approval of the Company’s annual budget and forecast.
The Company’s reported segment profit measure is net income (loss) as this measure is most consistent with the amounts included in the Condensed Consolidated Statements of Operations. In addition, segment assets reviewed by the CODM are reported on the Company’s Condensed Consolidated Balance Sheets as total assets.
The accounting policies of the Company’s reportable segment are the same as those of the Company.
The following presents a reconciliation to the Company’s net income (loss) as reported in the Condensed Consolidated Statements of Operations and includes segment revenues, significant segment expenses that are regularly provided to or easily computed from information regularly provided to the CODM, other segment expenses, and adjustments to reconcile to net income (loss).
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Total segment revenue
$1,287,035 $1,204,559 $2,554,526 $2,394,231 
Less significant segment expenses:
Customer service costs(1)
109,094 102,807 215,484 206,033 
Maintenance costs(1)
52,834 48,385 104,294 99,872 
Security installation, product, and other costs
88,258 45,042 170,530 84,634 
Selling costs, including commissions(2)
45,038 47,359 91,162 99,175 
Amortization of deferred subscriber acquisition costs(2)
62,149 54,730 122,507 109,335 
Advertising costs(2)
21,674 27,385 40,188 51,883 
Provision for credit losses(2)
48,841 50,226 99,320 83,970 
Other general and administrative costs(2)
162,384 183,563 329,923 365,338 
Share-based compensation(2)
11,649 21,284 32,170 29,359 
Depreciation and intangible asset amortization
338,734 333,859 678,251 666,861 
Interest expense
117,874 111,537 241,044 203,136 
Income tax expense (benefit)
58,749 59,840 109,781 116,270 
Total significant segment expenses
1,117,278 1,086,017 2,234,654 2,115,866 
Less other segment items(3):
Other items in SG&A(2)
4,403 5,744 9,468 21,447 
Other, net
(2,879)(13,387)(306)(33,158)
Total other segment items
1,524 (7,643)9,162 (11,711)
Reconciliation of profit or loss:
(Income) loss from discontinued operations, net of tax(4)
3,054 33,791 5,285 106,131 
Net income (loss)$165,179 $92,394 $305,425 $183,945 
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(1)Included in monitoring and related services cost of revenue in the Condensed Consolidated Statements of Operations.
(2)Included in SG&A in the Condensed Consolidated Statements of Operations.
(3)Other segment items generally include other income and expenses, interest income, as well as certain other items included in SG&A that are not considered significant segment expenses. Interest income is not material for the periods presented.
(4)Represents activity related to the Commercial and Solar Businesses (as applicable during the periods), which are presented as discontinued operations.