Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 23

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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MENTS OF CASH FLOWS 

VERTIV HOLDINGS CO

(Dollars in millions)Six months ended June 30, 2025Six months ended June 30, 2024Cash flows from operating activities:Net income (loss)$488.7 $172.2 Adjustments to reconcile net income (loss) to net cash used for operating activities:Depreciation46.4 39.9 Amortization98.5 97.2 Deferred income taxes23.1 (2.8)Amortization of debt discount and issuance costs4.3 4.1 Change in fair value of warrant liabilities— 202.0 Stock-based compensation24.5 17.7 Changes in operating working capital(95.2)(3.6)Other35.9 (7.7)Net cash provided by (used for) operating activities626.2 519.0 Cash flows from investing activities:Capital expenditures(81.5)(69.9)Investments in capitalized software(3.2)(11.6)Purchase of short-term investments(98.1)— Net cash provided by (used for) investing activities(182.8)(81.5)Cash flows from financing activities:Borrowings from ABL revolving credit facility and short-term borrowings— 270.0 Repayments of ABL revolving credit facility and short-term borrowings— (270.0)Repayment of long-term debt(10.5)(10.6)Dividend payment(28.4)(18.7)Repurchase of common stock— (599.9)Exercise of employee stock options13.0 23.6 Employee taxes paid from shares withheld(7.0)(21.1)Net cash provided by (used for) financing activities(32.9)(626.7)Effect of exchange rate changes on cash and cash equivalents13.3 (11.7)Increase (decrease) in cash, cash equivalents and restricted cash423.8 (200.9)Beginning cash, cash equivalents and restricted cash1,232.2 788.6 Ending cash, cash equivalents and restricted cash$1,656.0 $587.7 Changes in operating working capitalAccounts receivable$(380.8)$(115.1)Inventories(137.5)(224.1)Other current assets(23.9)(30.9)Accounts payable269.5