Company: VRT
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0001628280-25-019372
Chunk: 62

Company: Vertiv Holdings Co
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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— $— Interest rate swapsOther current assets28.5 — 28.5 — Economic hedgesOther current assets2.3 — 2.3 — Interest rate swapsOther noncurrent assets22.6 — 22.6 — Total assets$1,520.7 $1,467.3 $53.4 $— Liabilities:Foreign currency exchange forwardsAccrued expenses and other liabilities$3.7 $— $3.7 $— Total liabilities$3.7 $— $3.7 $— 

11

As of December 31, 2024Balance 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$1,227.6 $1,227.6 $— $— Interest rate swapsOther current assets30.3 — 30.3 — Economic hedgesOther current assets9.8 — 9.8 — Interest rate swapsOther noncurrent assets33.3 — 33.3 — Total assets$1,301.0 $1,227.6 $73.4 $— Liabilities:Foreign currency exchange forwardsAccrued expenses and other liabilities$8.8 $— $8.8 $— Total liabilities$8.8 $— $8.8 $— Interest rate swaps — From time to time the Company may enter into derivative financial instruments designed to hedge the variability in interest expense on floating rate debt. Derivatives are recognized as assets or liabilities in the Unaudited Condensed Consolidated Balance Sheets at their fair value. When the derivative instrument qualifies as a cash flow hedge changes in the fair value are deferred through other comprehensive income depending on the effectiveness of the instrument.The Company uses interest rate swaps to manage the interest rate risk of the Company’s total debt portfolio and related overall cost of borrowing. At both March 31, 2025 and December 31, 2024, interest rate swap agreements designated as cash flow hedges effectively swapped a notional amount of $1,000.0 of SOFR-based floating rate debt for fixed rate debt. The Company’s interest rate swaps mature in March 2027. During the three months