← ADT Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | ($536.6m) | $342.6m | ($609.2m) | ($424.1m) | ($632.2m) | ($340.8m) | $132.7m | $463.0m | $501.1m | $596.0m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | — | ($64.5m) | $619.4m | $600.5m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | — | — | $527.5m | ($118.3m) | ($4.6m) | |
| Depreciation, Depletion and Amortization | — | $1.9b | $1.9b | $2.0b | $1.9b | $1.9b | $1.7b | $1.4b | $1.3b | $1.4b | |
| Amortization of Intangible Assets | — | $1.2b | $1.2b | $1.2b | $1.2b | $1.2b | $934.7m | $613.7m | $610.4m | $630.9m | |
| Depreciation | — | $151.0m | $166.0m | $187.0m | $187.0m | $197.2m | $206.7m | $191.9m | $174.8m | $186.0m | |
| Depreciation and intangible asset amortization | $1.2b | $1.9b | $1.9b | $2.0b | $1.9b | $1.9b | $1.7b | $1.4b | $1.3b | $1.4b | |
| Amortization of deferred subscriber acquisition costs | $16.8m | $51.5m | $59.9m | $80.1m | $96.8m | $126.1m | $163.0m | $195.8m | $224.6m | $252.6m | |
| Amortization of deferred subscriber acquisition revenue | ($10.7m) | ($46.5m) | ($79.1m) | ($107.3m) | ($124.8m) | ($172.1m) | ($244.1m) | ($308.6m) | ($346.2m) | ($358.4m) | |
| Deferred Income Tax Expense (Benefit) | — | ($776.7m) | ($27.3m) | ($117.9m) | ($173.4m) | ($139.5m) | $19.6m | ($20.1m) | $139.6m | $142.2m | |
| Deferred income taxes | ($272.5m) | ($776.7m) | ($27.3m) | ($117.9m) | ($173.4m) | ($139.5m) | $31.2m | $125.2m | $139.6m | $141.7m | |
| Share-based Payment Arrangement, Expense | — | $11.3m | $135.0m | $85.6m | $96.0m | $61.2m | $66.6m | $51.1m | $48.6m | $54.6m | |
| Goodwill and Intangible Asset Impairment | — | — | — | — | — | — | $206.1m | $528.6m | $24.3m | $15.1m | |
| Goodwill, Impairment Loss | — | $0 | $88.0m | $45.5m | $0 | $0 | $201.0m | $511.2m | — | — | |
| Impairment of Intangible Assets (Excluding Goodwill) | — | — | — | — | — | $19.2m | — | — | — | — | |
| Goodwill, intangible, and other asset impairments | — | — | — | — | $0 | $19.2m | $154.5m | $528.6m | $24.3m | $15.1m | |
| Total share-based compensation expense | $4.6m | $11.3m | $135.0m | $85.6m | $96.0m | $61.2m | $66.6m | $51.1m | $48.6m | $54.6m | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | ($11.7m) | ($15.5m) | — | — | |
| Gain (Loss) on Extinguishment of Debt | — | ($4.3m) | ($274.8m) | ($104.1m) | ($119.7m) | ($37.1m) | $0 | ($16.6m) | ($4.8m) | ($18.9m) | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | ($4.6m) | $6.6m | $0 | $0 | |
| Income Tax Expense (Benefit) | — | ($764.3m) | ($23.5m) | $98.0m | $146.7m | ($130.4m) | $48.5m | $4.6m | $195.8m | $233.3m | |
| Other Nonoperating Income (Expense) | — | $33.0m | $27.6m | $5.0m | $8.3m | $8.3m | ($57.6m) | $12.0m | $52.9m | ($15.8m) | |
| Loss on extinguishment of debt | $24.8m | $4.3m | $274.8m | $104.1m | $119.7m | $37.1m | $0 | $16.6m | $4.8m | $18.9m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | — | $60.1m | $60.7m | $94.4m | $84.0m | $50.2m | $178.3m | $107.5m | $146.1m | $143.7m | |
| Increase (Decrease) in Accounts Payable | — | ($30.7m) | $9.0m | $19.3m | $65.3m | $98.1m | $8.7m | ($111.5m) | ($109.3m) | ($51.8m) | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | ($62.0m) | ($738k) | $0 | — | $649.1m | ($9.6m) | $0 | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | $24.0m | ($3.0m) | — | — | — | — | — | — | — | |
| Goodwill | — | $5.1b | $5.1b | $5.0b | $5.2b | $5.9b | $5.8b | $4.9b | $4.9b | $4.9b | |
| Nonoperating Income (Expense) | — | — | $22.0m | — | — | — | — | — | — | — | |
| Payments of Financing Costs | — | $400k | $337k | — | — | — | — | — | — | — | |
| Proceeds from Contributed Capital | — | $0 | $0 | — | — | — | — | — | — | — | |
| Revenue from Contract with Customer, Including Assessed Tax | — | $4.3b | $4.6b | $5.1b | $5.3b | — | — | — | — | — | |
| Provision for losses on receivables and inventory | $37.6m | $56.7m | $61.0m | $55.5m | $119.7m | $38.2m | $113.9m | $151.1m | $214.8m | $201.8m | |
| (Gain) loss on sales of businesses | — | $0 | $0 | $62.0m | $738k | $0 | ($10.1m) | ($649.1m) | $9.6m | $0 | |
| Unrealized (gain) loss on interest rate swap contracts | — | — | $3.2m | ($8.5m) | ($60.4m) | ($157.5m) | ($301.9m) | $38.5m | $45.2m | $71.4m | |
| Other non-cash items, net | $60.0m | $43.1m | $20.1m | $137.8m | $144.5m | $149.0m | $124.5m | $100.1m | ($34.1m) | $72.8m | |
| Accounts receivable, net | ($34.2m) | ($60.1m) | ($60.7m) | ($94.4m) | ($84.0m) | ($50.2m) | ($178.3m) | ($107.5m) | ($146.1m) | ($143.7m) | |
| Long-term retail installment contracts | — | — | — | — | ($7.5m) | $64.5m | $142.8m | $184.9m | $211.7m | $140.6m | |
| Other assets | — | — | — | — | — | — | ($9.3m) | ($29.1m) | ($109.8m) | ($40.6m) | |
| Accounts payable | ($9.1m) | ($30.7m) | $9.0m | $19.3m | $65.3m | $98.1m | $8.7m | ($111.5m) | ($109.3m) | ($51.8m) | |
| Accrued interest | — | — | — | — | — | $56.7m | $50.8m | ($128.0m) | ($88.9m) | ($115.1m) | |
| Accrued and other liabilities | — | — | — | — | — | $5.4m | ($42.0m) | ($83.0m) | $40.9m | ($102.9m) | |
| Deferred subscriber acquisition costs | ($144.6m) | ($165.1m) | ($184.7m) | ($190.0m) | ($239.8m) | ($323.6m) | ($393.9m) | ($386.5m) | ($365.8m) | ($380.5m) | |
| Other, net | $26.6m | $45.8m | ($84.2m) | ($17.2m) | $26.0m | $150.1m | ($27.3m) | ($125.8m) | ($2.0m) | ($80.2m) | |
| Dealer generated customer accounts and bulk account purchases | ($407.1m) | ($653.2m) | ($693.5m) | ($669.7m) | ($380.7m) | ($675.1m) | ($621.7m) | ($588.6m) | ($585.8m) | ($596.5m) | |
| Subscriber system asset expenditures | — | ($582.7m) | ($576.3m) | ($542.3m) | ($418.4m) | ($694.7m) | ($734.6m) | ($630.5m) | ($523.1m) | ($396.0m) | |
| Proceeds (payments) from interest rate swaps | $41.6m | $0 | $0 | — | — | ($56.1m) | ($18.8m) | $82.8m | $93.0m | $66.9m | |
| Proceeds from long-term borrowings | $6.0b | $1.3b | $422.9m | $3.4b | $2.6b | $1.2b | $550.0m | $867.2m | $1.1b | $3.0b | |
| Proceeds from receivables facility | — | — | — | — | $82.5m | $253.5m | $276.8m | $281.6m | $228.6m | $269.0m | |
| Repayment of long-term borrowings, including call premiums | ($1.4b) | ($725.0m) | ($699.6m) | ($3.8b) | ($3.1b) | ($1.3b) | ($605.1m) | ($3.0b) | ($1.2b) | ($3.0b) | |
| Repayment of receivables facility | — | — | — | — | ($6.7m) | ($130.3m) | ($121.1m) | ($200.4m) | ($256.7m) | ($233.9m) | |
| Payments on finance leases | — | — | — | — | ($28.0m) | ($32.1m) | ($45.0m) | ($43.7m) | ($29.0m) | ($30.2m) | |
| Proceeds (payments) from opportunity fund | — | — | — | — | — | $0 | $100.8m | ($8.7m) | ($6.9m) | ($77.9m) | |
| Net increase (decrease) during the period | $33.3m | $35.9m | $240.4m | ($318.4m) | $159.0m | ($174.5m) | $340.3m | ($243.6m) | $74.1m | ($95.5m) | |
| Beginning balance | $90.9m | $126.8m | $367.2m | $48.7m | $207.7m | $33.3m | $373.6m | $129.9m | $204.1m | $108.5m | |
| Net Cash Provided by (Used in) Operating Activities | $617.5m | $1.6b | $1.8b | $1.9b | $1.4b | $1.6b | $1.9b | $1.7b | $1.9b | $1.9b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | ($78.5m) | $130.6m | $126.8m | $158.8m | $157.2m | $168.2m | $176.7m | $176.4m | $163.8m | $175.7m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $63.5m | $352.8m | $108.7m | $224.6m | $163.5m | $13.1m | $0 | — | — | |
| Proceeds (payments) from divestiture of businesses | — | $0 | $0 | $496.4m | ($2.4m) | $1.8m | $26.7m | $1.6b | ($17.5m) | $50.6m | |
| Payments for (Proceeds from) Other Investing Activities | — | ($16.8m) | ($11.2m) | ($5.0m) | ($45.9m) | ($4.0m) | $13.4m | ($28.7m) | ($3.1m) | ($2.2m) | |
| Other investing, net | $2.4m | $16.8m | $11.2m | $5.0m | $45.9m | $4.0m | ($13.4m) | $28.7m | $3.1m | $2.2m | |
| Net Cash Provided by (Used in) Investing Activities | ($9.4b) | ($1.4b) | ($1.7b) | ($978.2m) | ($1.1b) | ($1.7b) | ($1.5b) | $242.5m | ($1.3b) | ($1.1b) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of Long-term Debt | — | — | — | — | — | — | $605.1m | $3.0b | $1.2b | $3.0b | |
| Proceeds from Issuance of Common Stock | — | — | — | — | $447.8m | $0 | $1.2b | $0 | $0 | — | |
| Payments for Repurchase of Common Stock | — | — | — | $149.9m | $4k | $0 | $1.2b | $0 | $240.6m | $606.8m | |
| Repurchases of common stock, including excise tax | — | $0 | $0 | ($149.9m) | ($4k) | $0 | ($1.2b) | $0 | ($240.6m) | ($606.8m) | |
| Dividends paid | — | $750 | $79 | $565 | $109 | $116 | $127 | $129 | $182 | $187 | |
| Dividends Payable, Current | — | — | — | — | — | — | — | — | $49 | $45 | |
| Dividends on common stock | $0 | ($750.0m) | ($79.4m) | ($564.8m) | ($109.3m) | ($116.3m) | ($127.1m) | ($128.6m) | ($182.3m) | ($186.8m) | |
| Proceeds from (Payments for) Other Financing Activities | — | ($11.8m) | ($3.7m) | ($3.0m) | ($40.2m) | ($65.5m) | ($5.4m) | ($32.2m) | ($4.4m) | ($2.0m) | |
| Other financing, net | ($35.2m) | ($11.8m) | ($3.7m) | ($3.0m) | ($40.2m) | ($65.5m) | ($5.4m) | ($32.2m) | ($4.4m) | ($2.0m) | |
| Net Cash Provided by (Used in) Financing Activities | $8.8b | ($143.1m) | $193.0m | ($1.2b) | ($70.3m) | ($128.4m) | ($14.8m) | ($2.1b) | ($515.4m) | ($861.9m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $338k | ($2.0m) | $838k | $0 | $0 | — | — | — | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $35.9m | $240.4m | ($318.4m) | $159.0m | ($174.5m) | $340.3m | ($243.6m) | $74.1m | ($95.5m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $126.8m | $367.2m | $48.7m | $207.7m | $33.3m | $373.6m | $129.9m | $204.1m | $108.5m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $661.2m | $688.1m | — | — | — | — | — | — | — | |
| Income Taxes Paid, Net | — | — | — | ($1.0m) | $25.8m | $1.9m | $22.7m | $60.3m | $21.7m | $142.2m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.