Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 100

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 2
Chunk 100
---
 expenditures(36.5)(35.8)(0.7)(2.0)Investments in capitalized software(2.3)(0.7)(1.6)(228.6)

Net Cash provided by (used for) Operating Activities

Net cash provided by operating activities was $303.3 in the first three months of 2025, a $165.8 increase in cash generation compared to the first three months of 2024. Net income from operations of $164.5 included $118.3 of net non-cash expense items, consisting of depreciation and amortization of $71.6, non-cash stock-based compensation expense of $11.2, amortization of debt discount and issuance costs of $2.2, and deferred taxes of $33.3. Trade working capital utilized $4.8 in the first three months of 2025 compared to $99.7 utilized in the first three months of 2024.

23

Net Cash provided by (used for) Investing Activities

Net cash used for investing activities was $38.8 in the first three months of 2025 compared to net cash used for investing activities of $36.5 in the first three months of 2024. The increased use of cash over the comparable period was primarily driven by an increase in investments of capitalized software of $1.6 and capital expenditures of $0.7.

Net Cash provided by (used for) Financing Activities

Net cash used for financing activities was $24.9 in the first three months of 2025 compared to $603.1 used for financing activities in the first three months of 2024. The decrease in cash used in 2025 was primarily the result of a $599.9 decrease in repurchase of common shares, offset by a $13.1 decrease in exercise of employee stock options, a $4.9 increase in dividend payment and a $3.7 increase in employee taxes paid for shares withheld.

Critical Accounting Policies and Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the Unaudited Condensed Consolidated Financial Statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates. The preceding discussion and analysis of our consolidated results of operations and financial condition should be read in conjunction with our Unaudited Condensed Consolid