Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 31

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 restructuring program to align its cost structure to support margin expansion targets. The program includes workforce reductions and footprint optimization across all segments. The current liability and non-current liability for estimated restructuring costs is recorded in "Accrued expenses and other liabilities” and "Other long-term liabilities", respectively, on the Unaudited Condensed Consolidated Balance Sheets.The change in the current liability for the restructuring costs during the six months ended June 30, 2025 were as follows:December 31, 2024Paid/UtilizedExpenseJune 30, 2025Severance and benefits$10.3 $(6.4)$2.0 $5.9 Plant closing and other0.1 (1.0)1.0 0.1 Total$10.4 $(7.4)$3.0 $6.0 

9

The change in the current liability for the restructuring costs during the six months ended June 30, 2024 were as follows:December 31, 2023Paid/UtilizedExpenseJune 30, 2024Severance and benefits$25.1 $(6.7)$(2.6)$15.8 Plant closing and other0.1 (0.4)0.4 0.1 Total$25.2 $(7.1)$(2.2)$15.9 

(5) DEBTLong-term debt, net, consisted of the following as of June 30, 2025 and December 31, 2024:June 30, 2025December 31, 2024Term Loan due 2027 at 6.07% and 6.19% at June 30, 2025 and December 31, 2024, respectively$2,086.5 $2,097.0 Senior Secured Notes due 2028 at 4.125% at both June 30, 2025 and December 31, 2024850.0 850.0 Unamortized discount and issuance costs(15.0)(18.8)2,921.5 2,928.2 Less: current portion(21.0)(21.0)Total long-term debt, net of current portion$2,900.5 $2,907.2 ABL Revolving Credit FacilityAt June 30, 2025, Vertiv Group Corporation (