Company: VRT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001628280-25-005905
Chunk: 37

Company: Vertiv Holdings Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 16
Chunk 37
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 material residual value guarantees or restrictive covenants. Operating lease assets and operating lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term and include options to extend or terminate the lease when they are reasonably certain to be exercised. The present value of lease payments is determined primarily using the incremental borrowing rate, adjusted for lease term and foreign currency, based on the information available at lease commencement date. Lease agreements with lease and non-lease components are generally accounted for as a single lease component. The Company’s operating lease expense is recognized on a straight-line basis over the lease term.Refer to the below table for a summary of operating lease expenses:Year Ended December 31, 2024Year Ended December 31, 2023Operating lease cost$67.1 $63.7 Short-term and variable lease cost35.8 28.8 Total lease cost$102.9 $92.5 Supplemental cash flow information related to operating leases is as follows:Year Ended December 31, 2024Year Ended December 31, 2023Cash paid for amounts included in the measurement of lease liabilities:Operating cash outflows - payments on operating leases$66.4 $62.7 Right-of-use assets obtained in exchange for new lease obligations:Operating leases$82.5 $72.1 

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Supplemental balance sheet information related to operating leases is as follows:Balance Sheet LocationDecember 31, 2024December 31, 2023Operating lease right-of-use assetsOther assets$202.1 $173.5 Operating lease liabilities Accrued expenses and other liabilities$45.7 $42.9 Operating lease liabilities Long-term lease liabilities166.7 141.0 Total lease liabilities$212.4 $183.9 Weighted average remaining lease terms and discount rates for operating leases are as follows:December 31, 2024December 31, 2023Weighted average remaining lease term6.4 years6.8 yearsWeighted average discount rate9.2 %8.4 %Maturities of lease liabilities at December 31, 2024 are as follows:December 31, 2024Operating Leases2025$63.2 202651.2 202741.9 202833.3 202923.3 Thereafter72.1 Total Lease Payments285.0 Less: Imputed Interest(