Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 27

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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ares227.0 113.4 84.5 424.9 Total$1,185.3 $447.2 $403.5 $2,036.0 Timing of Revenue Recognition:Products and services transferred at a point in time$973.7 $336.1 $295.2 $1,605.0 Products and services transferred over time211.6 111.1 108.3 431.0 Total$1,185.3 $447.2 $403.5 $2,036.0 Three months ended March 31, 2024AmericasAsia PacificEurope, Middle East, & AfricaTotalSales by Product and Service Offering:Products$716.1 $224.0 $297.3 $1,237.4 Services & spares208.9 108.3 84.5 401.7 Total$925.0 $332.3 $381.8 $1,639.1 Timing of Revenue Recognition:Products and services transferred at a point in time$682.0 $225.4 $206.1 $1,113.5 Products and services transferred over time243.0 106.9 175.7 525.6 Total$925.0 $332.3 $381.8 $1,639.1 The opening and closing balances of current and long-term deferred revenue as of March 31, 2025 and December 31, 2024 were as follows:Balances at March 31, 2025Balances at December 31, 2024Deferred revenue - current$1,095.1 $1,063.3 Deferred revenue - noncurrent (1)96.1 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 months ended March 31, 2025 was $203.2. Deferred revenue - noncurrent consists primarily of maintenance, extended warranty and other service contracts. The Company expects to recognize noncurrent deferred revenue of $45.9, $27.5 and $22.7 in the next 13 to 24 months, the next 25 to 36 months, and thereafter, respectively. 

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