Company: VRT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001628280-25-005905
Chunk: 27

Company: Vertiv Holdings Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 16
Chunk 27
---
.5 Annual Goodwill Impairment Analysis

The Company performed a qualitative impairment test for all of its reporting units during the fourth quarter of 2024. Based on the results of our qualitative impairment assessment, we concluded that it is more likely than not that the fair value of each reporting unit exceeded their carrying value and, therefore, our goodwill was not impaired as of December 31, 2024.

(6) DEBT

Long-term debt, net of current portion, consisted of the following as of December 31, 2024 and 2023:December 31, 2024December 31, 2023Term Loan due 2027 at 6.19% and 7.97% at December 31, 2024 and 2023, respectively$2,097.0 $2,118.1 Senior Secured Notes due 2028 at 4.125% at both December 31, 2024 and 2023, respectively850.0 850.0 Unamortized discount and issuance costs(18.8)(27.2)2,928.2 2,940.9 Less: Current Portion(21.0)(21.8)Total long-term debt, net of current portion$2,907.2 $2,919.1 Contractual maturities of the Company’s debt obligations as of December 31, 2024 are shown below: 2025$21.0 202621.0 20272,055.0 2028850.0 2029— Total$2,947.0 Term Loan Due 2027 Subject to certain conditions and without consent of the then-existing Term Lenders (but subject to the receipt of commitments), Vertiv Group Corporation (the "Borrower"), a wholly-owned subsidiary of Vertiv Holdings Co ("Holdings Co"), may incur additional loans under the Term Loan Credit Agreement (as an increase to the Term Loan or as one or more new tranches of term loans) (“Incremental Term Loans”) in an aggregate principal amount of up to the sum of (a) the greater of $325.0 and 60.0% of Consolidated EBITDA (as defined in the Term Loan Credit Agreement), plus (b) an amount equal to the sum of all voluntary prepayments, repurchases and redemptions of pari passu term loans borrowed under the Term Loan Credit Agreement and of certain