Company: VRT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001628280-25-005905
Chunk: 63

Company: Vertiv Holdings Co
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 63
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 (Loss)60Consolidated Balance Sheets61Consolidated Statements of Cash Flows62Consolidated Statements of Shareholders’ Equity (Deficit)63Notes to Consolidated Financial Statements641: Description of business and summary of significant accounting policies642: Acquisitions703: Revenue714: Restructuring costs725: Goodwill and other intangibles736: Debt747: Leases788: Pension plans799: Income taxes8210: Related party transactions8511: Other financial information8612: Financial instruments and risk management8613: Accumulated other comprehensive (loss) income8914: Segment information8915: Stock-based compensation plans9216: Earnings (loss) per share9417: Commitments and contingencies95

56

Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors of Vertiv Holdings Co

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of Vertiv Holdings Co (the Company) as of December 31, 2024 and 2023, the related consolidated statements of earnings (loss), comprehensive income (loss), shareholders’ equity (deficit), and cash flows for each of the three years in the period ended December 31, 2024, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024 in conformity with U.S. generally accepted accounting principles. 

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated February 18, 2025 expressed an unqualified opinion thereon.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable