Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 22

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 issued and outstanding— — Common stock, $0.0001 par value, 700,000,000 shares authorized, 381,001,144 and 380,703,974 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively— — Additional paid-in capital2,829.6 2,821.4 Accumulated deficit(88.0)(238.3)Accumulated other comprehensive income (loss) (75.2)(148.8)Total equity2,666.4 2,434.3 Total liabilities and equity$9,451.1 $9,132.5 

See accompanying Notes to Unaudited Condensed Consolidated Financial Statements

4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

VERTIV HOLDINGS CO

(Dollars in millions)Three months ended March 31, 2025Three months ended March 31, 2024Cash flows from operating activities:Net income (loss)$164.5 $(5.9)Adjustments to reconcile net income (loss) to net cash used for operating activities:Depreciation22.9 19.8 Amortization48.7 48.9 Deferred income taxes33.3 (7.6)Amortization of debt discount and issuance costs2.2 2.1 Change in fair value of warrant liabilities— 176.6 Changes in operating working capital(4.8)(99.7)Stock-based compensation11.2 9.2 Other25.3 (5.9)Net cash provided by (used for) operating activities303.3 137.5 Cash flows from investing activities:Capital expenditures(36.5)(35.8)Investments in capitalized software(2.3)(0.7)Net cash provided by (used for) investing activities(38.8)(36.5)Cash flows from financing activities:Borrowings from ABL revolving credit facility and short-term borrowings— 190.0 Repayments of ABL revolving credit facility and short-term borrowings— (190.0)Repayment of long-term debt(5.3)(5.3)Dividend payment(14.2)(9.3)Repurchase of common stock— (599.9)Exercise of employee stock options1.3 14.