Company: VRT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001628280-25-005905
Chunk: 26

Company: Vertiv Holdings Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 16
Chunk 26
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 Represents the goodwill acquired in December 2023 related to CoolTera Ltd., refer to "Note 2 - Acquisition" for additional information, offset by the write-off of goodwill associated with the disposition of a technical furniture business.(2)    Represents the goodwill acquired through an acquisition in December 2024.The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:As of December 31, 2024GrossAccumulated AmortizationNetCustomer relationships$1,740.1 $(829.6)$910.5 Developed technology492.3 (302.9)189.4 Capitalized software121.0 (86.9)34.1 Trademarks96.9 (41.7)55.2 Other43.7 (36.9)6.8 Total finite-lived identifiable intangible assets$2,494.0 $(1,298.0)$1,196.0 Indefinite-lived trademarks291.1 — 291.1 Total intangible assets$2,785.1 $(1,298.0)$1,487.1 As of December 31, 2023GrossAccumulated AmortizationNetCustomer relationships$1,768.6 $(710.7)$1,057.9 Developed technology494.3 (261.2)233.1 Capitalized software111.2 (82.6)28.6 Trademarks88.9 (35.9)53.0 Other45.5 (37.3)8.2 Total finite-lived identifiable intangible assets$2,508.5 $(1,127.7)$1,380.8 Indefinite-lived trademarks292.1 — 292.1 Total intangible assets$2,800.6 $(1,127.7)$1,672.9 

73

Total intangible asset amortization expense for the years ended December 31, 2024, 2023 and 2022 was $195.4, $196.7, and $230.4, respectively.Based on intangible asset balances as of December 31, 2024, expected amortization expense is as follows:20252026202720282029$200.3 $190.2 $157.7 $145.6 $94