Company: VRT
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001674101-25-000024
Chunk: 74

Company: Vertiv Holdings Co
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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155.7 $968.6 $5,911.3 Products and services transferred over time713.0 371.5 354.1 1,438.6 Total$4,500.0 $1,527.2 $1,322.7 $7,349.9 Nine months ended September 30, 2024AmericasAsia PacificEurope, Middle East, & AfricaTotalSales by Product and Service Offering:Products$2,565.2 $831.0 $974.1 $4,370.3 Services & spares679.5 342.8 272.8 1,295.1 Total$3,244.7 $1,173.8 $1,246.9 $5,665.4 Timing of Revenue Recognition:Products and services transferred at a point in time$2,448.0 $825.1 $692.4 $3,965.5 Products and services transferred over time796.7 348.7 554.5 1,699.9 Total$3,244.7 $1,173.8 $1,246.9 $5,665.4 The opening and closing balances of current and long-term deferred revenue as of September 30, 2025 and December 31, 2024 were as follows:Balances at September 30, 2025Balances at December 31, 2024Deferred revenue - current$1,131.9 $1,063.3 Deferred revenue - noncurrent(1)106.2 91.3 (1)    Noncurrent deferred revenue is recorded within “Other long-term liabilities” on the Unaudited Condensed Consolidated Balance Sheets.The amount of deferred revenue - current recognized for the three and nine months ended September 30, 2025 was $172.1 and $736.6. Deferred revenue - noncurrent consists primarily of maintenance, extended warranty and other service contracts. The Company expects to recognize noncurrent deferred revenue of $55.3, $28.0 and $22.9 in the next 13 to 24 months, the next 25 to 36 months, and thereafter, respectively.

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(5) RESTRUCTURING COSTSRestructuring costs include expenses associated with the Company’s efforts to continually improve operational efficiency and reposition its assets to