Company: VRT
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001674101-25-000024
Chunk: 31

Company: Vertiv Holdings Co
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 interim reporting within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adoption of this guidance on its Consolidated Financial Statements.

(3) ACQUISITION 

On July 17, 2025, the Company entered into a sale and purchase agreement to acquire Great Lakes Data Racks & Cabinets family of companies ("Great Lakes"). The transaction closed on August 20, 2025 ("Acquisition"). Great Lake's portfolio includes standard and custom racks, integrated cabinets, seismic cabinets, and enhanced cable management access options for both retrofit and greenfield applications. Total consideration transferred was $203.5. The preliminary valuation of the assets acquired include $107.6 of finite-lived identifiable intangible assets, $31.8 of all other net assets acquired consisting primarily of accounts receivable and inventory, and $64.1 of tax-deductible goodwill. Goodwill was allocated to the America's segment. Identifiable intangible assets have initial useful lives of 5 to 10 years and include customer relationships, developed technology, and trademarks. The estimated fair values of the identifiable intangible assets were determined using an income-based approach, which includes market participant expectations of cash flows that the asset will generate over the remaining useful life discounted to present value using an appropriate discount rate. The Company is still in the process of finalizing the valuation estimates to determine the final purchase price allocation including the final working capital adjustments and amounts allocated to intangible assets. 

(4) REVENUEThe Company recognizes revenue from the sale of manufactured products and services when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to receive in exchange for those goods or services. Disaggregation of RevenuesThe following table disaggregates revenue by business segment, product and service offering and timing of transfer of control:Three months ended September 30, 2025AmericasAsia PacificEurope, Middle East, & AfricaTotalSales by Product and Service Offering:Products$1,426.6 $392.7 $348.3 $2,167.6 Services & spares285.8 127.1 95.3 508.2 Total$1,712.4 $519.8 $443.6 $2,675.8 Timing of Revenue Recognition:Products and services transferred at a point in time$1,456.9 $394.4 $327.2 $2,178.5