Company: VRT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001628280-25-005905
Chunk: 158

Company: Vertiv Holdings Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 158
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 of relevant income tax law. We also assessed the Company’s disclosure of uncertain tax positions.

/s/ Ernst & Young LLP

We have served as the Company’s auditor since 2016.

Grandview Heights, Ohio

February 18, 2025

58

CONSOLIDATED STATEMENTS OF EARNINGS (LOSS)

VERTIV HOLDINGS CO

(Dollars in millions except for per share data)Year Ended December 31, 202420232022Net salesNet sales - products$6,393.5 $5,406.1 $4,335.3 Net sales - services1,618.3 1,457.1 1,356.2 Net sales8,011.8 6,863.2 5,691.5 Costs and expensesCost of sales - products4,099.4 3,575.7 3,219.1 Cost of sales - services978.2 887.0 856.3 Cost of sales5,077.6 4,462.7 4,075.4 Operating expensesSelling, general and administrative expenses1,374.0 1,312.3 1,178.3 Amortization of intangibles184.2 181.3 215.8 Restructuring costs5.3 28.6 0.7 Foreign currency (gain) loss, net9.3 16.0 3.7 Other operating expense (income)(6.0)(9.9)(5.8)Operating profit (loss)1,367.4 872.2 223.4 Interest expense, net150.4 180.1 147.3 Loss on extinguishment of debt2.4 0.5 — Change in fair value of warrant liabilities449.2 157.9 (90.9)Income (loss) before income taxes765.4 533.7 167.0 Income tax expense269.6 73.5 90.4 Net income (loss)$495.8 $460.2 $76.6 Earnings (loss) per share:Basic$1.32 $1.21 $0.20 Diluted$1.28 $1.19 $(0.04)Weighted-average shares outstandingBasic376,418,933 380,144,059