$VRT
Vertiv Holdings Co

2020 Q2 Form 10-Q Financial Statement

#000162828020011825 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $1.006B $0.00
YoY Change
Cost Of Revenue $659.3M $766.9M
YoY Change -14.03%
Gross Profit $346.4M -$766.9M
YoY Change -145.17%
Gross Profit Margin 34.44%
Selling, General & Admin $226.3M $263.3M
YoY Change -14.05% 263200.0%
% of Gross Profit 65.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $50.00M $51.00M
YoY Change -1.96%
% of Gross Profit 14.43%
Operating Expenses $226.3M $263.3M
YoY Change -14.05% 263200.0%
Operating Profit $70.60M -$1.030B
YoY Change -106.85%
Interest Expense $30.10M $78.70M
YoY Change -61.75% 13016.67%
% of Operating Profit 42.63%
Other Income/Expense, Net
YoY Change
Pretax Income -$41.70M -$2.900M
YoY Change 1337.93% -690.89%
Income Tax $14.30M $16.00M
% Of Pretax Income
Net Earnings -$56.00M -$18.90M
YoY Change 196.3% -4991.53%
Net Earnings / Revenue -5.57%
Basic Earnings Per Share -$0.17 -$0.16
Diluted Earnings Per Share -$0.17 -$0.16
COMMON SHARES
Basic Shares Outstanding 328.4M shares 118.3M shares
Diluted Shares Outstanding 328.4M shares 118.3M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $369.7M $200.0K
YoY Change 184750.0% -88.89%
Cash & Equivalents $369.7M $120.3M
Short-Term Investments
Other Short-Term Assets $180.6M $300.0K
YoY Change 60100.0%
Inventory $467.9M
Prepaid Expenses $290.7K
Receivables $1.185B
Other Receivables $0.00
Total Short-Term Assets $2.203B $515.9K
YoY Change 426975.24% -71.52%
LONG-TERM ASSETS
Property, Plant & Equipment $407.1M
YoY Change
Goodwill $600.0M
YoY Change
Intangibles $1.341B
YoY Change
Long-Term Investments $700.9M
YoY Change 1.58%
Other Assets $170.3M $1.300M
YoY Change 13000.0% 116.67%
Total Long-Term Assets $2.527B $702.2M
YoY Change 259.83% 1.68%
TOTAL ASSETS
Total Short-Term Assets $2.203B $515.9K
Total Long-Term Assets $2.527B $702.2M
Total Assets $4.730B $702.7M
YoY Change 573.09% 1.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $613.4M $511.5K
YoY Change 119825.78% 305.87%
Accrued Expenses $761.6M $0.00
YoY Change -100.0%
Deferred Revenue $190.2M
YoY Change
Short-Term Debt $20.20M $0.00
YoY Change
Long-Term Debt Due $22.00M
YoY Change
Total Short-Term Liabilities $1.441B $511.7K
YoY Change 281414.26% -44.58%
LONG-TERM LIABILITIES
Long-Term Debt $2.409B $0.00
YoY Change
Other Long-Term Liabilities $418.3M $24.20M
YoY Change 1628.51% 0.0%
Total Long-Term Liabilities $2.827B $24.20M
YoY Change 11583.06% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.441B $511.7K
Total Long-Term Liabilities $2.827B $24.20M
Total Liabilities $4.379B $24.66M
YoY Change 17656.28% -1.64%
SHAREHOLDERS EQUITY
Retained Earnings -$1.243B $4.998M
YoY Change -24976.0% 6063.36%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $213.0M -$638.2M
YoY Change
Total Liabilities & Shareholders Equity $4.730B $702.7M
YoY Change 573.09% 1.49%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$56.00M -$18.90M
YoY Change 196.3% -4991.53%
Depreciation, Depletion And Amortization $50.00M $51.00M
YoY Change -1.96%
Cash From Operating Activities $73.00M -$47.90M
YoY Change -252.4%
INVESTING ACTIVITIES
Capital Expenditures -$10.90M -$19.00M
YoY Change -42.63%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.200M
YoY Change -100.0% -100.17%
Cash From Investing Activities -$10.90M -$17.80M
YoY Change -38.76% -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 14.20M 64.30M
YoY Change -77.92% -90.71%
NET CHANGE
Cash From Operating Activities 73.00M -47.90M
Cash From Investing Activities -10.90M -17.80M
Cash From Financing Activities 14.20M 64.30M
Net Change In Cash 76.30M -1.400M
YoY Change -5550.0% -177.78%
FREE CASH FLOW
Cash From Operating Activities $73.00M -$47.90M
Capital Expenditures -$10.90M -$19.00M
Free Cash Flow $83.90M -$28.90M
YoY Change -390.31%

Facts In Submission

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us-gaap Proceeds From Sale Of Property Plant And Equipment
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DESCRIPTION OF BUSINESS<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%;">Vertiv Holdings Co ("Holdings Co", and together with its majority-owned subsidiaries, “Vertiv”, "we", "our", or "the Company"), formerly known as GS Acquisition Holdings Corp ("GSAH"), provides mission-critical infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. Vertiv’s offerings include power conditioning and uninterruptible power systems, thermal management, integrated data center control devices, software, monitoring, and service. Vertiv manages and reports results of operations for three business segments: Americas; Asia Pacific; and Europe, Middle East &amp; Africa.</span></div><div><span><br/></span></div><div style="margin-bottom:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Vertiv Holdings Co was originally incorporated in Delaware on April 25, 2016 as a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On June 12, 2018, GSAH consummated its initial public offering (the “IPO”) of 69,000,000 units, including 9,000,000 units issued pursuant to the exercise by the underwriters of their option to purchase additional units in full, at a price of $10.00 per unit, generating proceeds to GSAH of $690.0 before underwriting discounts and expenses. Simultaneously with the closing of the IPO, GSAH closed the private placement of an aggregate of 10,533,333 warrants, each exercisable to purchase one share of Class A common stock at an exercise price of $11.50 per share (the “private placement warrants” and, together with the public warrants, the “warrants”), initially issued to GS DC Sponsor I LLC, a Delaware limited liability company, at a price of $1.50 per private placement warrant, generating proceeds of $15.8. </span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On February 7, 2020 (the “Closing Date”), Vertiv Holdings Co consummated its previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated as of December 10, 2019 (the “Merger Agreement”), by and among GSAH, Vertiv Holdings, LLC, a Delaware limited liability company (“Vertiv Holdings”), VPE Holdings, LLC, a Delaware limited liability company (the “Vertiv Stockholder”), Crew Merger Sub I LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of GSAH (“First Merger Sub”), and Crew Merger Sub II LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of GSAH (“Second Merger Sub”). As contemplated by the Merger Agreement, (1) First Merger Sub merged with and into Vertiv Holdings, with Vertiv Holdings continuing as the surviving entity (the “First Merger”) and (2) immediately following the First Merger and as part of the same overall transaction as the First Merger, Vertiv Holdings merged with and into Second Merger Sub, with Second Merger Sub continuing as the surviving entity and renamed “Vertiv Holdings, LLC” (collectively with the First Merger and the other transactions contemplated by the Merger Agreement, the “Business Combination”).</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The aggregate merger consideration paid by GSAH in connection with the consummation of the Business Combination was approximately $1,526.2 (the “Merger Consideration”). The Merger Consideration was paid in a combination of cash and stock. The amount of cash consideration paid to the Vertiv Stockholder upon the consummation of the Business Combination was $341.6. The remainder of the consideration paid to the Vertiv Stockholder upon the consummation of the Business Combination was stock consideration (“Stock Consideration”), consisting of 118,261,955 newly-issued shares of our Class A common stock (the “Stock Consideration Shares”), which shares were valued at $10.00 per share for purposes of determining the aggregate number of shares of our Class A common stock payable to the Vertiv Stockholder as part of the Merger Consideration. In addition, the Vertiv Stockholder is entitled to receive additional future cash consideration with respect to the Business Combination in the form of amounts payable under a Tax Receivable Agreement, dated as of the Closing Date, by and between the Company and the Vertiv Stockholder (the “Tax Receivable Agreement”). See Note 11 to the unaudited condensed consolidated financial statements for additional information. </span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Concurrently with the execution of the Merger Agreement, Vertiv Holdings Co entered into subscription agreements with certain investors and executive officers ("PIPE Investors"). The PIPE Investors subscribed for 123,900,000 shares of Class A common stock for an aggregate purchase price equal to $1,239.0 (the "PIPE Investment"). The Company used $1,464.0 of the proceeds from the Business Combination to pay down its existing debt. Acquisition-related transaction costs and related charges are not included as a component of consideration transferred but were charged against the proceeds from the PIPE Investment and the trust account.</span></div><div><span><br/></span></div><div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In connection with the Business Combination, GS Acquisition Holdings Corp changed its name to Vertiv Holdings Co and changed the trading symbols for its units, each unit representing one share of Class A common stock and one-third of one redeemable warrant to acquire one share of Class A common stock, that were issued in the IPO (less the number of units that have been separated into the underlying shares of Class A common stock and underlying warrants (the “public warrants”) upon the request of the holder thereof) (the “units”). Class A common stock and public warrants on the NYSE </span></div>were changed from “GSAH.U,” “GSAH” and “GSAH WS,” to “VERT.U,” “VRT” and “VRT WS,” respectively. As a result of the Business Combination, Vertiv Holdings Co became the owner, directly or indirectly, of all of the assets of Vertiv and its subsidiaries, and the Vertiv Stockholder holds a portion of the Company’s Class A common stock.The Business Combination was accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded, in accordance with US GAAP. This determination was primarily based on post Business Combination relative voting rights, composition of the governing board, management, and intent of the Business Combination. Under this method of accounting, GSAH was treated as the “acquired” company for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Vertiv issuing stock for the net assets of GSAH, which primarily consisted of cash held in its trust account, accompanied by a recapitalization. The net assets of the Company were stated at historical cost, with no goodwill or other intangible assets recorded. Reported amounts from operations included herein prior to the Business Combination are those of Vertiv.
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
43300000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
37500000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29800000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
24100000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
23000000.0 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18000000.0 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13700000 USD
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
10600000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
16800000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
14200000 USD
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CY2020Q2 us-gaap Proceeds From Previous Acquisition
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P12Y
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LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21600000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
28600000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
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EffectiveIncomeTaxRateContinuingOperations
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EffectiveIncomeTaxRateContinuingOperations
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us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2020Q1 us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
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500000 USD
CY2020Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
12900000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
18400000 USD
CY2019Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
24400000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
31100000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
223500000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
10200000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
10200000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
379900000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
233700000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
217800000 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
180200000 USD
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
157900000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
162600000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
92200000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
58200000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
467900000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
401000000.0 USD
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
595700000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
592500000 USD
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
188600000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
164300000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
407100000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
428200000 USD
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
190200000 USD
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160900000 USD
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99300000 USD
CY2020Q1 vrt Percent Of Tax Savings Under Tax Receivable Agreement Expected After Closing Date
PercentOfTaxSavingsUnderTaxReceivableAgreementExpectedAfterClosingDate
0.35
CY2020Q1 vrt Percent Of Tax Savings Under Tax Receivable Agreement Prior To Closing Date
PercentOfTaxSavingsUnderTaxReceivableAgreementPriorToClosingDate
0.65
CY2020Q1 vrt Tax Receivable Agreement Period Covered
TaxReceivableAgreementPeriodCovered
P12Y
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
145400000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
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36900000 USD
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ProductWarrantyAccrualClassifiedCurrent
43200000 USD
CY2020Q2 us-gaap Litigation Reserve Current
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96500000 USD
CY2019Q4 us-gaap Litigation Reserve Current
LitigationReserveCurrent
92900000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
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36000000.0 USD
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OperatingLeaseLiabilityCurrent
35000000.0 USD
CY2020Q2 us-gaap Other Liabilities Current
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302700000 USD
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390300000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
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761600000 USD
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867700000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
43300000 USD
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ProductWarrantyAccrual
44900000 USD
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ProductWarrantyAccrualPreexistingIncreaseDecrease
13200000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
18700000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
19600000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
24500000 USD
CY2020Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
36900000 USD
CY2019Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
39100000 USD
CY2020Q2 vrt Tax Receivable Agreement
TaxReceivableAgreement
133300000 USD
vrt Tax Receivable Agreement Effect Of One Percentage Point Change On Fair Value
TaxReceivableAgreementEffectOfOnePercentagePointChangeOnFairValue
7000000.0 USD
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
133400000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
100000 USD
CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
133300000 USD
CY2020Q1 vrt Percent Of Tax Savings Under Tax Receivable Agreement Prior To Closing Date
PercentOfTaxSavingsUnderTaxReceivableAgreementPriorToClosingDate
0.65
CY2020Q1 vrt Percent Of Tax Savings Under Tax Receivable Agreement Prior To Closing Date
PercentOfTaxSavingsUnderTaxReceivableAgreementPriorToClosingDate
0.65
CY2020Q1 vrt Tax Receivable Agreement Estimated Payments Undiscounted
TaxReceivableAgreementEstimatedPaymentsUndiscounted
191500000 USD
CY2020Q2 vrt Interest Expense Tax Receivable Agreement
InterestExpenseTaxReceivableAgreement
7100000 USD
vrt Interest Expense Tax Receivable Agreement
InterestExpenseTaxReceivableAgreement
16200000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Before Tax After Reclassification Adjustment Attributable To Parent
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionBeforeTaxAfterReclassificationAdjustmentAttributableToParent
-9700000 USD
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Before Tax After Reclassification Adjustment Attributable To Parent
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionBeforeTaxAfterReclassificationAdjustmentAttributableToParent
16200000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
500000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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500000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
10900000 USD
CY2020Q2 vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
32200000 USD
CY2019Q2 vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
32400000 USD
vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
64600000 USD
vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
65200000 USD
CY2020Q2 us-gaap Restructuring Charges
RestructuringCharges
2400000 USD
CY2019Q2 us-gaap Restructuring Charges
RestructuringCharges
4600000 USD
us-gaap Restructuring Charges
RestructuringCharges
1300000 USD
us-gaap Restructuring Charges
RestructuringCharges
5400000 USD
CY2020Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2800000 USD
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
5300000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4600000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
1800000 USD
CY2020Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
12300000 USD
CY2019Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
12300000 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2020Q2 vrt Other Operating And Non Operating Income And Expense Other
OtherOperatingAndNonOperatingIncomeAndExpenseOther
200000 USD
CY2019Q2 vrt Other Operating And Non Operating Income And Expense Other
OtherOperatingAndNonOperatingIncomeAndExpenseOther
3600000 USD
vrt Other Operating And Non Operating Income And Expense Other
OtherOperatingAndNonOperatingIncomeAndExpenseOther
-1000000.0 USD
vrt Other Operating And Non Operating Income And Expense Other
OtherOperatingAndNonOperatingIncomeAndExpenseOther
1800000 USD
CY2020Q2 us-gaap Other General Expense
OtherGeneralExpense
49500000 USD
CY2019Q2 us-gaap Other General Expense
OtherGeneralExpense
28100000 USD
us-gaap Other General Expense
OtherGeneralExpense
83800000 USD
us-gaap Other General Expense
OtherGeneralExpense
67000000.0 USD
CY2020Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
500000 USD
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
500000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1005700000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1134100000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1903000000.0 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2188900000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
40500000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2900000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-214700000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-58800000 USD
CY2020Q2 us-gaap Assets
Assets
4729900000 USD
CY2019Q4 us-gaap Assets
Assets
4657400000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1005700000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1134100000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1903000000.0 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2188900000 USD
CY2020Q1 vrt Common Stock Capital Shares Reserved For Future Issuance Annual Increase
CommonStockCapitalSharesReservedForFutureIssuanceAnnualIncrease
10500000 shares
CY2020Q1 vrt Common Stock Capital Shares Reserved For Future Issuance Increase As A Percent Of Outstanding Shares
CommonStockCapitalSharesReservedForFutureIssuanceIncreaseAsAPercentOfOutstandingShares
0.03
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
6754305000000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11640000
vrt Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y7M24D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6754305000000 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11640000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y7M24D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13000000.0 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
26200000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-18900000 USD
us-gaap Net Income Loss
NetIncomeLoss
-242700000 USD
us-gaap Net Income Loss
NetIncomeLoss
-93300000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
328411705 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118261955 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
284534285 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118261955 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2724375 shares
CY2019Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
331136080 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118261955 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
284534285 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118261955 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.85
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.79
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.79
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2700000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5400000 shares
CY2018Q2 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
30000000.0 USD
CY2018Q2 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
30000000.0 USD
CY2019Q1 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
30000000.0 USD
CY2019Q3 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
34500000 USD
CY2020Q2 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
31700000 USD

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