Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 61

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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 (see Note 4)8.8 10.4 Operating lease liabilities46.7 45.7 Product warranty28.4 27.5 Other 340.0 381.2 Total$534.2 $612.6 

10

Three months ended March 31, 2025Three months ended March 31, 2024Change in product warranty accrualBalance at the beginning of the period$27.5 $26.1 Provision charge to expense7.9 3.4 Paid/utilized(7.0)(5.7)Balance at the end of the period$28.4 $23.8 

(8) FINANCIAL INSTRUMENTS AND RISK MANAGEMENTIn accordance with Accounting Standards Codification ("ASC") 820, the Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. These tiers include the following: Level 1 — inputs include observable unadjusted quoted prices in active markets for identical assets or liabilitiesLevel 2 — inputs include other than quoted prices in active markets that are either directly or indirectly observableLevel 3 — inputs include unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptionsIn determining fair value, the Company uses various valuation techniques and prioritizes the use of observable inputs. The availability of observable inputs varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded, and other characteristics particular to the instrument. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants, and the valuation does not require significant management judgment. For other financial instruments, pricing inputs are less observable in the marketplace and may require management judgment.Recurring fair value measurementsA summary of the Company’s financial instruments recognized at fair value, and the fair value measurements used are as follows:As of March 31, 2025Balance Sheet LocationTotalQuoted prices in active markets for identical assets (Level 1)Other observable inputs (Level 2)Unobservable inputs (Level 3)Assets:CashCash and cash equivalents$1,467.3 $1,467.3 $