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 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 Consolidated Statements of Operations. In addition, segment assets reviewed by the CODM are reported on the Company’s 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 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).


	Years Ended December 31,
(in thousands)	2025		2024		2023

Total segment revenue	$	5,128,607	$	4,898,446	$	4,652,824

Less significant segment expenses:
Customer service costs(1)	432,963		409,680		387,314
Maintenance costs(1)	209,307		207,706		217,054
Security installation, product, and other costs	340,702		229,728		147,314
Selling costs, including commissions(2)	183,663		185,417		196,204
Amortization of deferred subscriber acquisition costs(2)	252,553		224,647		188,222
Advertising costs(2)	97,820		105,366		131,133
Provision for credit losses(2)	197,431		187,361		131,962
Other general and administrative costs(2)	647,499		708,979		664,182
Share-based compensation(2)	54,553		48,745		38,626
Depreciation and intangible asset amortization	1,367,216		1,342,798		1,335,484
Interest expense	469,909		450,939		586,088
Income tax expense (benefit)	233,294		195,780		160,585
Total significant segment expenses	4,486,910		4,297,146		4,184,168

Less other segment items(3):
Other items in SG&A(2)	35,999		39,955		36,368
Other, net	5,180		(58,045)		(18,082)
Total other segment items	41,179		(18,090)		18,286

Reconciliation of profit or loss:
(Income) loss from discontinued operations, net of tax(4)	4,567		118,337		(12,639)

Net income (loss)	$	595,951	$	501,053	$	463,009

________________

(1)Included in monitoring and related services cost of revenue in the Consolidated Statements of Operations.

(2)Included in SG&A in the Consolidated Statements of Operations.

(3)Other segment items generally include other income and expenses, interest income, and 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.

Entity-Wide Disclosures

Revenue generated from customers outside of the U.S. is not material. As of December 31, 2025 and 2024, substantially all of the Company’s assets were located in the U.S.

The Company does not have any major customers given the high volume nature of the business. Refer to Note 2 “Revenue and Receivables” for further information on the Company’s products and services.

Historical Timeline

Fiscal Year	Filed
2025	Mar 2, 2026	Showing above
2024	Feb 27, 2025

2023	Feb 28, 2024

2022	Feb 28, 2023

2021	Mar 1, 2022

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

ADT Inc. Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures