$VRT
Vertiv Holdings Co

2019 Q2 Form 10-Q Financial Statement

#000119312519214077 Filed on August 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $766.9M
YoY Change
Gross Profit -$766.9M
YoY Change
Gross Profit Margin
Selling, General & Admin $263.3M $100.0K
YoY Change 263200.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $51.00M
YoY Change
% of Gross Profit
Operating Expenses $263.3M $100.0K
YoY Change 263200.0%
Operating Profit -$1.030B
YoY Change
Interest Expense $78.70M $600.0K
YoY Change 13016.67%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.900M $490.8K
YoY Change -690.89%
Income Tax $16.00M $104.4K
% Of Pretax Income 21.27%
Net Earnings -$18.90M $386.4K
YoY Change -4991.53%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16
Diluted Earnings Per Share -$0.16 $4.635K
COMMON SHARES
Basic Shares Outstanding 118.3M shares
Diluted Shares Outstanding 118.3M shares

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K $1.800M
YoY Change -88.89%
Cash & Equivalents $120.3M $691.8M
Short-Term Investments
Other Short-Term Assets $300.0K
YoY Change
Inventory
Prepaid Expenses $290.7K
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $515.9K $1.811M
YoY Change -71.52%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $700.9M $690.0M
YoY Change 1.58%
Other Assets $1.300M $600.0K
YoY Change 116.67%
Total Long-Term Assets $702.2M $690.6M
YoY Change 1.68%
TOTAL ASSETS
Total Short-Term Assets $515.9K $1.811M
Total Long-Term Assets $702.2M $690.6M
Total Assets $702.7M $692.4M
YoY Change 1.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $511.5K $126.0K
YoY Change 305.87%
Accrued Expenses $0.00 $700.0K
YoY Change -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $511.7K $923.3K
YoY Change -44.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.20M $24.20M
YoY Change 0.0%
Total Long-Term Liabilities $24.20M $24.20M
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $511.7K $923.3K
Total Long-Term Liabilities $24.20M $24.20M
Total Liabilities $24.66M $25.07M
YoY Change -1.64%
SHAREHOLDERS EQUITY
Retained Earnings $4.998M $81.09K
YoY Change 6063.36%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$638.2M $5.000M
YoY Change
Total Liabilities & Shareholders Equity $702.7M $692.4M
YoY Change 1.49%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$18.90M $386.4K
YoY Change -4991.53%
Depreciation, Depletion And Amortization $51.00M
YoY Change
Cash From Operating Activities -$47.90M $0.00
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$19.00M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $1.200M -$690.0M
YoY Change -100.17%
Cash From Investing Activities -$17.80M -$690.0M
YoY Change -97.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 64.30M 691.8M
YoY Change -90.71%
NET CHANGE
Cash From Operating Activities -47.90M 0.000
Cash From Investing Activities -17.80M -690.0M
Cash From Financing Activities 64.30M 691.8M
Net Change In Cash -1.400M 1.800M
YoY Change -177.78%
FREE CASH FLOW
Cash From Operating Activities -$47.90M $0.00
Capital Expenditures -$19.00M
Free Cash Flow -$28.90M
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
104212
dei Trading Symbol
TradingSymbol
GSAH
CY2019Q2 us-gaap Cash
Cash
225175
CY2018Q4 us-gaap Cash
Cash
835544
CY2019Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
290706
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
341424
CY2019Q2 us-gaap Assets Current
AssetsCurrent
515881
CY2018Q4 us-gaap Assets Current
AssetsCurrent
1176968
CY2019Q2 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
700931980
CY2018Q4 us-gaap Assets Held In Trust Noncurrent
AssetsHeldInTrustNoncurrent
694883137
CY2018Q4 us-gaap Dividends Receivable
DividendsReceivable
1278946
CY2019Q2 us-gaap Assets
Assets
702715354
CY2018Q4 us-gaap Assets
Assets
697339051
CY2019Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
511483
CY2018Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
644208
CY2018Q4 gsah Accrued Offering Costs Current
AccruedOfferingCostsCurrent
538881
CY2019Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
214
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
94439
CY2019Q2 us-gaap Liabilities Current
LiabilitiesCurrent
511697
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1277528
CY2019Q2 gsah Deferred Underwriting Commissions
DeferredUnderwritingCommissions
24150000
CY2018Q4 gsah Deferred Underwriting Commissions
DeferredUnderwritingCommissions
24150000
CY2019Q2 us-gaap Liabilities
Liabilities
24661697
CY2018Q4 us-gaap Liabilities
Liabilities
25427528
CY2019Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
271932
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4997990
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4726054
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
5000001
CY2019Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
702715354
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
697339051
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q2 us-gaap Investment Income Dividend
InvestmentIncomeDividend
3912187
CY2018Q2 us-gaap Investment Income Dividend
InvestmentIncomeDividend
613686
us-gaap Investment Income Dividend
InvestmentIncomeDividend
7772242
us-gaap Investment Income Dividend
InvestmentIncomeDividend
613686
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
433713
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
123688
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3478474
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
490786
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6889541
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
489998
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
104212
gsah Increase Decrease In Deferred Offering Costs
IncreaseDecreaseInDeferredOfferingCosts
538881
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
122900
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
882701
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4738474
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
2747555
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26058
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
300000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
300000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
690000000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
15800000
us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
13800000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
730919
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
104404
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
214905
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1447407
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
700000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
691785095
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5438474
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
691811153
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
695718681
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
701157155
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
691811153
gsah Adjustments To Additional Paid In Capital Proceeds From Sponsor Commitment
AdjustmentsToAdditionalPaidInCapitalProceedsFromSponsorCommitment
700000
gsah Proceeds From Sponsor Commitment
ProceedsFromSponsorCommitment
700000
CY2018Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
690000000
CY2018Q2 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
15800000
CY2018Q2 us-gaap Payments For Deposits
PaymentsForDeposits
690000000
CY2019Q2 us-gaap Net Asset Value Per Share
NetAssetValuePerShare
1.00
gsah Percentage Of Public Shares Required To Repurchase If Business Combination Is Not Completed Within Specified Period
PercentageOfPublicSharesRequiredToRepurchaseIfBusinessCombinationIsNotCompletedWithinSpecifiedPeriod
1.00
CY2019Q2 us-gaap Assets Held In Trust
AssetsHeldInTrust
702199473
CY2019Q2 us-gaap Dividends Receivable
DividendsReceivable
1267493
gsah Minimum Percentage Of Fair Market Value Of Business Acquisition To Trust Account Balance
MinimumPercentageOfFairMarketValueOfBusinessAcquisitionToTrustAccountBalance
0.80
us-gaap Cost Of Trust Assets Sold To Pay Expenses
CostOfTrustAssetsSoldToPayExpenses
100000
gsah Period From Closing Of Public Offering To Complete Business Combination
PeriodFromClosingOfPublicOfferingToCompleteBusinessCombination
P24M
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
386382
us-gaap Net Income Loss
NetIncomeLoss
5442134
us-gaap Net Income Loss
NetIncomeLoss
385786
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
23724
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
690000000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
15800000
gsah Adjustments To Additional Paid In Capital Accretion In Redemption Amount
AdjustmentsToAdditionalPaidInCapitalAccretionInRedemptionAmount
38857949
gsah Temporary Equity Issued During Period Value New Issues
TemporaryEquityIssuedDuringPeriodValueNewIssues
-662351552
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
5000009
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
5000001
gsah Adjustments To Additional Paid In Capital Accretion In Redemption Amount
AdjustmentsToAdditionalPaidInCapitalAccretionInRedemptionAmount
5789944
gsah Temporary Equity Issued During Period Value New Issues
TemporaryEquityIssuedDuringPeriodValueNewIssues
-352190
us-gaap Profit Loss
ProfitLoss
5442134
us-gaap Profit Loss
ProfitLoss
385786
us-gaap Increase Decrease In Dividends Receivable
IncreaseDecreaseInDividendsReceivable
-11453
us-gaap Increase Decrease In Dividends Receivable
IncreaseDecreaseInDividendsReceivable
613686
us-gaap Increase Decrease Due From Officers And Stockholders
IncreaseDecreaseDueFromOfficersAndStockholders
-25000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-50718
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-132725
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
124746
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-94225
us-gaap Revenues
Revenues
0
us-gaap Revenues
Revenues
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-left: 0.79in; margin-top: 18pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 6pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-left: 0.79in; margin-top: 18pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 6pt;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires the Company&#8217;s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
dei Document Type
DocumentType
10-Q
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 gsah Minimum Net Tangible Assets
MinimumNetTangibleAssets
5000001
CY2019Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
dei Amendment Flag
AmendmentFlag
false
dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
dei Document Period End Date
DocumentPeriodEndDate
2019-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
GS Acquisition Holdings Corp
dei Entity Central Index Key
EntityCentralIndexKey
0001674101
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Shell Company
EntityShellCompany
true
gsah Percentage Of Underwriting Commission Of Gross Proceeds
PercentageOfUnderwritingCommissionOfGrossProceeds
0.020
gsah Payment Of Underwriting Discounts
PaymentOfUnderwritingDiscounts
13800000
gsah Percentage Of Underwriting Fee
PercentageOfUnderwritingFee
0.035
CY2019Q2 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
24150000
CY2019Q2 us-gaap Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
10000
CY2019Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
30000
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
60000
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote for each share of common stock
CY2019Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Security12b Title
Security12bTitle
Common stock
dei Security Exchange Name
SecurityExchangeName
NYSE
CY2019Q2 us-gaap Revenues
Revenues
0
CY2018Q2 us-gaap Revenues
Revenues
0

Files In Submission

Name View Source Status
0001193125-19-214077-index-headers.html Edgar Link pending
0001193125-19-214077-index.html Edgar Link pending
0001193125-19-214077.txt Edgar Link pending
0001193125-19-214077-xbrl.zip Edgar Link pending
d766914d10q.htm Edgar Link pending
d766914dex311.htm Edgar Link pending
d766914dex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gsah-20190630.xml Edgar Link completed
gsah-20190630.xsd Edgar Link pending
gsah-20190630_cal.xml Edgar Link unprocessable
gsah-20190630_def.xml Edgar Link unprocessable
gsah-20190630_lab.xml Edgar Link unprocessable
gsah-20190630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R2.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending