Company: VRT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001674101-25-000008
Chunk: 37

Company: Vertiv Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 37
---
 Class A common stock. Prior to exercise, the fair value of the private warrants were considered a Level 2 valuation and were determined using the Black-Sholes-Merton valuation model. The Company recognized a loss of $25.4 and $202.0 for the three and six months ended June 30, 2024, respectively, in "Change in the fair value of warrant liabilities" on the Unaudited Condensed Consolidated Statement of Earnings (Loss) associated with the mark-to-market adjustment on the 5,266,667 previously outstanding private warrants. As of June 30, 2025, there were no outstanding private warrants. Net investment hedge — From time to time the Company designates certain intercompany debt to hedge a portion of its investment in foreign subsidiaries and affiliates. The net impact of translation adjustments from these hedges was $(0.8), $(0.9), $1.9, and $5.3 for the three and six months ended June 30, 2025 and 2024, respectively, and is included in “Foreign currency translation” in the Unaudited Condensed Consolidated Statement of Other Comprehensive Income (Loss). As of June 30, 2025 and December 31, 2024, $46.5 and $24.0, respectively, of the Company’s intercompany debt was designated to hedge investments in certain foreign subsidiaries and affiliates.Other fair value measurementsThe Company determines the fair value of debt using Level 2 inputs based on quoted market prices. The following table presents the estimated fair value and carrying value of long-term debt, including the current portion of long-term debt as of June 30, 2025 and December 31, 2024. June 30, 2025December 31, 2024 Fair ValuePar Value(1)Fair ValuePar Value(1)Term Loan due 2027$2,089.1 $2,086.5 $2,097.0 $2,097.0 Senior Secured Notes due 2028829.1 850.0 802.4 850.0 (1)See “Note 5 — Debt” for additional information.Marketable securities —  The Company classifies marketable securities with maturities in excess of three months and less than one year at acquisition as held-to-maturity. These investments primarily consist of U.S. Treasury bills. The Company does not purchase and hold securities principally for the purpose of