ADT Inc. Files Q3 2024 Quarterly Report

Ticker: ADT · Form: 10-Q · Filed: 2024-10-24T00:00:00.000Z

Sentiment: neutral

Topics: sec-filing, quarterly-report, compliance

Related Tickers: ADT

TL;DR

ADT filed its 10-Q for Q3 2024. All good on compliance.

AI Summary

ADT Inc. filed its quarterly report for the period ended September 30, 2024. The company is registered with the SEC under file number 001-38352 and its common stock trades on the New York Stock Exchange under the symbol ADT. ADT Inc. confirmed it has filed all required reports for the preceding 12 months and has been subject to such filing requirements for the past 90 days.

Why It Matters

This filing provides investors with an update on ADT Inc.'s financial performance and compliance with SEC regulations for the third quarter of 2024.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not contain significant new risk factors or negative financial disclosures.

Key Players & Entities

FAQ

What is the SEC Commission File Number for ADT Inc.?

The SEC Commission File Number for ADT Inc. is 001-38352.

On which exchange does ADT Inc. trade its common stock?

ADT Inc. common stock trades on the New York Stock Exchange.

What is the trading symbol for ADT Inc. common stock?

The trading symbol for ADT Inc. common stock is ADT.

For what period is this quarterly report filed?

This quarterly report is filed for the period ended September 30, 2024.

Has ADT Inc. filed all required reports for the preceding 12 months?

Yes, ADT Inc. 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.

Filing Stats: 4,472 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-10-24 17:07:56

Key Financial Figures

Filing Documents

Financial Statements

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) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 1. Description of Business and Summary of Significant Accounting Policies 7 2. Revenue and Receivables 11 3. Divestitures 12 4. Goodwill and Other Intangible Assets 15 5. Debt 17 6. Derivative Financial Instruments 19 7. Income Taxes 21 8. Equity 21 9. Share-Based Compensation 22 10. Net Income (Loss) Per Share 23 11. Commitments and Contingencies 25 12. Leases 27 13. Related Party Transactions 28 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 42 Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 47 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 47 Item 6. Exhibits 47

Signatures

Signatures 49

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. ADT INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except share and per share data) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 95,338 $ 14,621 Restricted cash and restricted cash equivalents 109,411 115,329 Accounts receivable, net of allowance for credit losses of $ 63,995 and $ 46,850 , respectively 396,913 370,201 Inventories, net 203,007 201,394 Prepaid expenses and other current assets 194,902 242,192 Current assets of discontinued operations 3,322 60,957 Total current assets 1,002,893 1,004,694 Property and equipment, net 259,554 253,658 Subscriber system assets, net 3,003,196 3,005,936 Intangible assets, net 4,898,878 4,877,493 Goodwill 4,903,899 4,903,899 Deferred subscriber acquisition costs, net 1,288,840 1,175,904 Other assets 726,732 699,231 Noncurrent assets of discontinued operations 569 43,279 Total assets $ 16,084,561 $ 15,964,094 Liabilities and stockholders' equity Current liabilities: Current maturities of long-term debt $ 196,563 $ 312,061 Accounts payable 226,614 277,201 Deferred revenue 249,920 255,221 Accrued expenses and other current liabilities 533,959 556,114 Current liabilities of discontinued operations 38,301 79,611 Total current liabilities 1,245,357 1,480,208 Long-term debt 7,524,523 7,513,456 Deferred subscriber acquisition revenue 2,058,273 1,914,954 Deferred tax liabilities 1,116,665 1,027,189 Other liabilities 230,231 219,069 Noncurrent liabilities of discontinued operations 12,227 20,572 Total liabilities 12,187,276 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 September 30, 2024 and December 31, 2023 — — Common stock—authorized 3,999,000,000 shares of $ 0.01 par value; issued and outstanding shares of 857,250,221 and 867,432,337 as of Septemb

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