Company: VRT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001628280-25-005905
Chunk: 39

Company: Vertiv Holdings Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 16
Chunk 39
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$76.9 Fair value of plan assets, beginning14.7 14.7 Actual return on plan assets0.8 0.8 Employer contributions4.9 6.3 Participants’ contributions0.2 0.2 Benefits paid(3.4)(2.7)Settlements(2.8)(5.7)Foreign currency translation and other(0.4)1.1 Fair value of plan assets, ending$14.0 $14.7 Net amount recognized in the balance sheet$(61.7)$(62.2)Amounts recognized in the balance sheet:Noncurrent asset$0.4 $0.5 Current liability(3.1)(3.3)Noncurrent liability(59.0)(59.4)Net amount recognized in the balance sheet$(61.7)$(62.2)Pretax accumulated other comprehensive (income) loss$4.8 $1.6 As of December 31, 2024, non-U.S. plans were net underfunded by $61.7, inclusive of unfunded plans totaling $62.1 and an insignificant amount of overfunded non-U.S. plans. As of the plans’ December 31, 2024 and 2023 respective measurement dates, the total accumulated benefit obligation in in excess of plan assets were as follows:December 31, 2024December 31, 2023Projected benefit obligation$73.4 $65.8 Accumulated benefit obligation62.4 55.6 Fair value of plan assets11.3 3.0 Future expected benefit payments are as follows:Non-U.S. Plans2025$4.5 20264.2 20275.1 20284.9 20296.4 2030 through 203436.2 Total future expected benefit payments$61.3 The Company expects to contribute approximately $1.2 to its retirement plans in 2025. Company's defined benefit pension plan expense for 2025 is expected to be approximately $7.3, versus $6.0 in 2024.

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The weighted-average assumptions used in the valuation of pension benefits are as follows:Non-U.S. PlansDecember 31, 2024December 31, 2023Net pension expenseDiscount rate5.41 %5.29 %Expected return on plan assets5.