ADT Inc. (ADT) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K/A	10-K/A	10-K/A	10-K	10-K	10-K	10-K	10-K
Revenues:
Solar	786.4	47.4
CSB	4,378.8	4,146.0	4,325.2	3,891.1
Commercial	1,230.1	639.3	563.2	1,045.3
Other		474.4	426.4	189.3
Total revenues	6,395.3	5,307.1	5,314.8	5,125.7	4,581.7	4,315.5	2,949.8	311.6
Revenue growth [+]	20.5%	-0.1%	3.7%	11.9%	6.2%	46.3%	846.8%
Solar	1560.8%
CSB	5.6%	-4.1%	11.2%
Commercial	92.4%	13.5%	-46.1%
Cost of goods sold	2,039.8	1,550.2	1,516.5	1,390.3	1,036.3	883.7	693.4	148.5
Gross profit	4,355.5	3,756.9	3,798.3	3,735.4	3,545.3	3,431.8	2,256.3	163.0
Gross margin	68.1%	70.8%	71.5%	72.9%	77.4%	79.5%	76.5%	52.3%
Selling, general and administrative	1,930.0	1,789.0	1,723.6	1,406.5	1,247.0	1,209.2	858.9	84.1
Research and development					5.0	12.0	34.0
Equity in earnings	4.6
Other operating expenses	22.2	37.9	120.2	35.9			-34.0	118.7
EBITDA [+]	2,407.8	1,930.1	1,954.4	2,293.0	2,293.4	2,210.6	1,397.4
EBITDA growth	24.8%	-1.2%	-14.8%	0.0%	3.7%	58.2%	-3613.5%
EBITDA margin	37.6%	36.4%	36.8%	44.7%	50.1%	51.2%	47.4%	-12.8%
Depreciation	758.9	704.8	691.4	751.0	724.4	699.0	432.8
EBITA	1,648.9	1,225.2	1,263.0	1,541.9	1,569.0	1,511.6	964.7	-39.8
EBITA margin	25.8%	23.1%	23.8%	30.1%	34.2%	35.0%	32.7%	-12.8%
Amortization of intangibles	934.7	1,210.0	1,222.4	1,238.1	1,206.5	1,164.3	800.2
EBIT [+]	714.2	15.3	40.6	303.9	362.5	347.3	164.5	-39.8
EBIT growth	4574.9%	-62.4%	-86.6%	-16.2%	4.4%	111.1%	-513.5%
EBIT margin	11.2%	0.3%	0.8%	5.9%	7.9%	8.0%	5.6%	-12.8%
Non-recurring items [+]	201.0			107.4	84.6	64.8	393.8
Asset impairment	201.0			45.5	84.6	64.8	393.8
Loss (gain) on disposal of assets				62.0
Interest expense	265.3	457.7	708.2	619.6	688.1	732.8	521.5	45.2
Interest expense	265.3	457.7	708.2	619.6	688.1	732.8	521.5	45.2
Other income (expense), net [+]	-62.2	-28.8	-111.4	-99.1	-222.3	28.7	-51.9	0.3
Gain (loss) on debt retirement		-37.1	-119.7	-104.1	-274.8	-4.3	-28.3
Other	-57.6	8.3	8.3	5.0	27.6	33.0	-23.6	0.3
Pre-tax income	185.8	-471.2	-778.9	-522.2	-632.6	-421.7	-802.7	-84.6
Income taxes	48.6	-130.4	-146.7	-98.0	-23.5	-764.3	-266.2	-30.4
Tax rate	26.1%	27.7%	18.8%	18.8%	3.7%	181.3%	33.2%	35.9%
Net income	132.7	-340.8	-632.2	-424.2	-609.2	342.6	-536.6	-54.3
Net margin	2.1%	-6.4%	-11.9%	-8.3%	-13.3%	7.9%	-18.2%	-17.4%

Basic EPS [+]	$0.15	($0.41)	($0.81)	($0.57)	($0.81)	$0.53	($0.84)	($0.08)
Growth	-135.6%	-49.3%	43.5%	-30.3%	-252.4%	-163.8%	889.0%
Diluted EPS [+]	$0.14	($0.41)	($0.81)	($0.57)	($0.81)	$0.53	($0.84)	($0.08)
Growth	-133.1%	-49.2%	43.1%	-30.3%	-252.4%	-163.8%	889.0%

Dividends per share [+]	$0.14	$0.14	$0.14	$0.76	$0.11	$1.17
Growth	-0.2%	0.1%	-81.4%	611.4%	-90.9%

Shares outstanding (basic) [+]	903.2	825.4	776.3	747.2	747.7	641.1	640.7	640.7
Growth	9.4%	6.3%	3.9%	-0.1%	16.6%	0.1%	0.0%
Shares outstanding (diluted) [+]	969.8	825.4	778.4	747.2	747.7	641.1	640.7	640.7
Growth	17.5%	6.0%	4.2%	-0.1%	16.6%	0.1%	0.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.