v3.25.2
LEASES
 6 Months Ended
Jun. 30, 2025
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 and wholly-owned subsidiary, ADT LLC.
Right-of-Use Assets and Lease Liabilities
(in thousands)
June 30, 2025December 31, 2024
Presentation and Classification:
OperatingCurrentPrepaid expenses and other current assets$94 $80 
OperatingNon-currentOther assets82,228 80,768 
FinanceNon-current
Property and equipment, net(1)
47,961 61,827 
Total right-of-use assets$130,283 $142,675 
OperatingCurrentAccrued expenses and other current liabilities$17,101 $18,811 
FinanceCurrentCurrent maturities of long-term debt22,638 25,593 
OperatingNon-currentOther liabilities81,214 77,884 
FinanceNon-currentLong-term debt33,390 43,849 
Total lease liabilities$154,343 $166,137 
_________________
(1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $78 million and $66 million as of June 30, 2025 and December 31, 2024, respectively.
Lease Cost
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2025202420252024
Operating lease cost$6,837 $6,709 $13,154 $13,578 
Finance lease cost:
Amortization of right-of-use assets5,485 5,719 10,852 10,108 
Interest on lease liabilities834 1,322 1,764 2,405 
Variable lease costs10,238 8,872 20,149 15,727 
Total lease cost $23,394 $22,622 $45,919 $41,818 
Lease Liabilities Arising from Obtaining Right-of-Use Assets(1)
Six Months Ended June 30,
(in thousands)
20252024
Operating leases$12,519 $8,930 
Finance leases$1,444 $28,557 
_________________
(1)Includes both continuing and discontinued operations, as applicable.
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 and wholly-owned subsidiary, ADT LLC.
Right-of-Use Assets and Lease Liabilities
(in thousands)
June 30, 2025December 31, 2024
Presentation and Classification:
OperatingCurrentPrepaid expenses and other current assets$94 $80 
OperatingNon-currentOther assets82,228 80,768 
FinanceNon-current
Property and equipment, net(1)
47,961 61,827 
Total right-of-use assets$130,283 $142,675 
OperatingCurrentAccrued expenses and other current liabilities$17,101 $18,811 
FinanceCurrentCurrent maturities of long-term debt22,638 25,593 
OperatingNon-currentOther liabilities81,214 77,884 
FinanceNon-currentLong-term debt33,390 43,849 
Total lease liabilities$154,343 $166,137 
_________________
(1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $78 million and $66 million as of June 30, 2025 and December 31, 2024, respectively.
Lease Cost
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2025202420252024
Operating lease cost$6,837 $6,709 $13,154 $13,578 
Finance lease cost:
Amortization of right-of-use assets5,485 5,719 10,852 10,108 
Interest on lease liabilities834 1,322 1,764 2,405 
Variable lease costs10,238 8,872 20,149 15,727 
Total lease cost $23,394 $22,622 $45,919 $41,818 
Lease Liabilities Arising from Obtaining Right-of-Use Assets(1)
Six Months Ended June 30,
(in thousands)
20252024
Operating leases$12,519 $8,930 
Finance leases$1,444 $28,557 
_________________
(1)Includes both continuing and discontinued operations, as applicable.
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 and wholly-owned subsidiary, ADT LLC.
Right-of-Use Assets and Lease Liabilities
(in thousands)
June 30, 2025December 31, 2024
Presentation and Classification:
OperatingCurrentPrepaid expenses and other current assets$94 $80 
OperatingNon-currentOther assets82,228 80,768 
FinanceNon-current
Property and equipment, net(1)
47,961 61,827 
Total right-of-use assets$130,283 $142,675 
OperatingCurrentAccrued expenses and other current liabilities$17,101 $18,811 
FinanceCurrentCurrent maturities of long-term debt22,638 25,593 
OperatingNon-currentOther liabilities81,214 77,884 
FinanceNon-currentLong-term debt33,390 43,849 
Total lease liabilities$154,343 $166,137 
_________________
(1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $78 million and $66 million as of June 30, 2025 and December 31, 2024, respectively.
Lease Cost
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2025202420252024
Operating lease cost$6,837 $6,709 $13,154 $13,578 
Finance lease cost:
Amortization of right-of-use assets5,485 5,719 10,852 10,108 
Interest on lease liabilities834 1,322 1,764 2,405 
Variable lease costs10,238 8,872 20,149 15,727 
Total lease cost $23,394 $22,622 $45,919 $41,818 
Lease Liabilities Arising from Obtaining Right-of-Use Assets(1)
Six Months Ended June 30,
(in thousands)
20252024
Operating leases$12,519 $8,930 
Finance leases$1,444 $28,557 
_________________
(1)Includes both continuing and discontinued operations, as applicable.
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.