v3.26.1
LEASES
 6 Months Ended
Jun. 30, 2026
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, 2026December 31, 2025
Presentation and Classification:
OperatingCurrentPrepaid expenses and other current assets$85 $92 
OperatingNon-currentOther assets81,669 83,910 
FinanceNon-current
Property and equipment, net(1)
52,732 41,317 
Total right-of-use assets$134,486 $125,319 
OperatingCurrentAccrued expenses and other current liabilities$19,812 $16,841 
FinanceCurrentCurrent maturities of long-term debt28,340 22,674 
OperatingNon-currentOther liabilities77,306 81,290 
FinanceNon-currentLong-term debt30,071 25,091 
Total lease liabilities$155,529 $145,896 
_________________
(1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $93 million and $87 million as of June 30, 2026 and December 31, 2025, respectively.
Lease Cost
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$6,473 $6,837 $12,772 $13,154 
Finance lease cost:
Amortization of right-of-use assets6,324 5,485 12,044 10,852 
Interest on lease liabilities748 834 1,396 1,764 
Variable lease costs12,287 10,238 21,525 20,149 
Total lease cost $25,832 $23,394 $47,737 $45,919 
Lease Liabilities Arising from Obtaining Right-of-Use Assets
Six Months Ended June 30,
(in thousands)
20262025
Operating leases$7,458 $12,519 
Finance leases$26,469 $1,444 
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, 2026December 31, 2025
Presentation and Classification:
OperatingCurrentPrepaid expenses and other current assets$85 $92 
OperatingNon-currentOther assets81,669 83,910 
FinanceNon-current
Property and equipment, net(1)
52,732 41,317 
Total right-of-use assets$134,486 $125,319 
OperatingCurrentAccrued expenses and other current liabilities$19,812 $16,841 
FinanceCurrentCurrent maturities of long-term debt28,340 22,674 
OperatingNon-currentOther liabilities77,306 81,290 
FinanceNon-currentLong-term debt30,071 25,091 
Total lease liabilities$155,529 $145,896 
_________________
(1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $93 million and $87 million as of June 30, 2026 and December 31, 2025, respectively.
Lease Cost
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$6,473 $6,837 $12,772 $13,154 
Finance lease cost:
Amortization of right-of-use assets6,324 5,485 12,044 10,852 
Interest on lease liabilities748 834 1,396 1,764 
Variable lease costs12,287 10,238 21,525 20,149 
Total lease cost $25,832 $23,394 $47,737 $45,919 
Lease Liabilities Arising from Obtaining Right-of-Use Assets
Six Months Ended June 30,
(in thousands)
20262025
Operating leases$7,458 $12,519 
Finance leases$26,469 $1,444 
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, 2026December 31, 2025
Presentation and Classification:
OperatingCurrentPrepaid expenses and other current assets$85 $92 
OperatingNon-currentOther assets81,669 83,910 
FinanceNon-current
Property and equipment, net(1)
52,732 41,317 
Total right-of-use assets$134,486 $125,319 
OperatingCurrentAccrued expenses and other current liabilities$19,812 $16,841 
FinanceCurrentCurrent maturities of long-term debt28,340 22,674 
OperatingNon-currentOther liabilities77,306 81,290 
FinanceNon-currentLong-term debt30,071 25,091 
Total lease liabilities$155,529 $145,896 
_________________
(1)Finance lease right-of-use assets are recorded net of accumulated depreciation, which was approximately $93 million and $87 million as of June 30, 2026 and December 31, 2025, respectively.
Lease Cost
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)
2026202520262025
Operating lease cost$6,473 $6,837 $12,772 $13,154 
Finance lease cost:
Amortization of right-of-use assets6,324 5,485 12,044 10,852 
Interest on lease liabilities748 834 1,396 1,764 
Variable lease costs12,287 10,238 21,525 20,149 
Total lease cost $25,832 $23,394 $47,737 $45,919 
Lease Liabilities Arising from Obtaining Right-of-Use Assets
Six Months Ended June 30,
(in thousands)
20262025
Operating leases$7,458 $12,519 
Finance leases$26,469 $1,444 
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.