−Removed: The discussion below excludes certain properties that no longer belong to ADT as a result of the Commercial Divestiture.
−Removed: In addition, ADT will charge rent to the Commercial Business for certain shared properties that are leased by ADT wherein the Commercial Business will continue its operations for an agreed upon period of time.
−Removed: As of December 31, 2023, we owned or leased approximately 180 sales and service offices, including 38 in our Solar segment, that are supported by our regional distribution centers, as well as our nationwide network of multi-use sales, customer, and field support locations housing our six UL-listed monitoring centers.
−Removed: Approximately half of the Solar offices were closed prior to December 31, 2023.
−Removed: We lease our properties through our main operating entities, ADT LLC and ADT Solar LLC, which generally correspond with our operating segments, CSB and Solar, respectively.
+Added: We primarily lease our properties through our main operating entity, ADT LLC.
+Added: As of December 31, 2024, we owned or leased approximately 140 sales and service offices, that are supported by our regional distribution centers, as well as our nationwide network of multi-use sales, customer, and field support locations housing our six UL-listed monitoring centers.
As of December 31, 2024, we leased 1.8 million square feet of space in the U.S.
−Removed: primarily under long-term operating leases with third parties, including 100 thousand square feet for our corporate headquarters in Boca Raton, Florida, which we renewed during 2023.
+Added: primarily under long-term operating leases with third parties, including 100 thousand square feet for our corporate headquarters in Boca Raton, Florida, which we renewed during 2023 that extended the lease through 2034.
We also own 350 thousand square feet of space in the U.S.;
+Added: however, approximately 100 thousand square feet of that space is currently listed for sale.
We regularly evaluate the suitability, adequacy, productive capacity, and utilization of our existing principal physical properties.
A portion of our employees continue to work from home under both permanent and temporary arrangements.
−Removed: Other initiatives, such as our Virtual Assistance Program, may also impact our physical property needs in the future as we are able to service more of our customers remotely.
+Added: Other initiatives, such as our Remote Assistance Program, may also impact our physical property needs in the future as we are able to service more of our customers remotely.
We continue to believe our properties are adequately maintained and are suitable for our business as presently conducted.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.