Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 70

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 70
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 2025Three months ended June 30, 2024(1)Six months ended June 30, 2025Six months ended June 30, 2024(1)Americas$0.6 $0.2 $0.7 $0.3 Asia Pacific0.9 (2.5)0.9 (2.1)Europe, Middle East & Africa0.3 — 0.9 0.7 Corporate0.1 (0.2)0.5 (1.1)Total$1.9 $(2.5)$3.0 $(2.2)(1)    During the three and six months ended June 30, 2024 restructuring reserves were adjusted to align with revised future restructuring obligations.The Company has an on-going multi-year 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