$VRT
Vertiv Holdings Co

2020 Q3 Form 10-Q Financial Statement

#000162828020015793 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $1.162B $0.00 $0.00
YoY Change
Cost Of Revenue $749.0M $719.4M $766.9M
YoY Change 4.11%
Gross Profit $413.0M -$719.4M -$766.9M
YoY Change -157.41%
Gross Profit Margin 35.54%
Selling, General & Admin $251.7M $259.3M $263.3M
YoY Change -2.93% 86333.33% 263200.0%
% of Gross Profit 60.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $50.20M $51.30M $51.00M
YoY Change -2.14%
% of Gross Profit 12.15%
Operating Expenses $251.7M $259.3M $263.3M
YoY Change -2.93% 86333.33% 263200.0%
Operating Profit $35.10M -$978.7M -$1.030B
YoY Change -103.59%
Interest Expense $26.40M $77.70M $78.70M
YoY Change -66.02% 2328.13% 13016.67%
% of Operating Profit 75.21%
Other Income/Expense, Net
YoY Change
Pretax Income -$79.00M -$17.30M -$2.900M
YoY Change 356.65% -695.83% -690.89%
Income Tax $24.50M -$3.600M $16.00M
% Of Pretax Income
Net Earnings -$103.5M -$13.70M -$18.90M
YoY Change 655.47% -696.67% -4991.53%
Net Earnings / Revenue -8.91%
Basic Earnings Per Share -$0.32 -$0.12 -$0.16
Diluted Earnings Per Share -$0.32 -$0.12 -$0.16
COMMON SHARES
Basic Shares Outstanding 328.4M shares 118.3M shares 118.3M shares
Diluted Shares Outstanding 328.4M shares 118.3M shares 118.3M shares

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $324.3M $200.0K $200.0K
YoY Change 162050.0% -80.0% -88.89%
Cash & Equivalents $324.3M $159.5M $120.3M
Short-Term Investments
Other Short-Term Assets $172.6M $400.0K $300.0K
YoY Change 43050.0% 0.0%
Inventory $465.5M
Prepaid Expenses $353.8K $290.7K
Receivables $1.289B
Other Receivables $0.00
Total Short-Term Assets $2.251B $548.3K $515.9K
YoY Change 410429.21% -60.68% -71.52%
LONG-TERM ASSETS
Property, Plant & Equipment $406.9M
YoY Change
Goodwill $611.7M
YoY Change
Intangibles $1.312B
YoY Change
Long-Term Investments $703.9M $700.9M
YoY Change 1.62% 1.58%
Other Assets $176.4M $1.100M $1.300M
YoY Change 15936.36% 0.0% 116.67%
Total Long-Term Assets $2.521B $705.0M $702.2M
YoY Change 257.52% 1.62% 1.68%
TOTAL ASSETS
Total Short-Term Assets $2.251B $548.3K $515.9K
Total Long-Term Assets $2.521B $705.0M $702.2M
Total Assets $4.772B $705.6M $702.7M
YoY Change 576.3% 1.5% 1.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $655.8M $1.234M $511.5K
YoY Change 53031.76% 514.35% 305.87%
Accrued Expenses $876.8M $0.00 $0.00
YoY Change -100.0% -100.0%
Deferred Revenue $189.8M
YoY Change
Short-Term Debt $19.10M $0.00 $0.00
YoY Change
Long-Term Debt Due $22.00M
YoY Change
Total Short-Term Liabilities $1.602B $1.235M $511.7K
YoY Change 129636.32% -14.95% -44.58%
LONG-TERM LIABILITIES
Long-Term Debt $2.235B $0.00 $0.00
YoY Change
Other Long-Term Liabilities $446.8M $24.20M $24.20M
YoY Change 1746.28% 0.0% 0.0%
Total Long-Term Liabilities $2.682B $24.20M $24.20M
YoY Change 10980.99% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.602B $1.235M $511.7K
Total Long-Term Liabilities $2.682B $24.20M $24.20M
Total Liabilities $4.400B $25.38M $24.66M
YoY Change 17233.41% -0.85% -1.64%
SHAREHOLDERS EQUITY
Retained Earnings -$1.259B $4.998M $4.998M
YoY Change -25292.16% 110.25% 6063.36%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $146.1M -$696.2M -$638.2M
YoY Change
Total Liabilities & Shareholders Equity $4.772B $705.6M $702.7M
YoY Change 576.3% 1.5% 1.49%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$103.5M -$13.70M -$18.90M
YoY Change 655.47% -696.67% -4991.53%
Depreciation, Depletion And Amortization $50.20M $51.30M $51.00M
YoY Change -2.14%
Cash From Operating Activities $136.1M $23.50M -$47.90M
YoY Change 479.15% 1019.05%
INVESTING ACTIVITIES
Capital Expenditures -$6.800M -$9.800M -$19.00M
YoY Change -30.61%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $1.200M
YoY Change -100.17%
Cash From Investing Activities -$6.800M -$9.800M -$17.80M
YoY Change -30.61% -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 -181.2M 28.90M 64.30M
YoY Change -726.99% -9733.33% -90.71%
NET CHANGE
Cash From Operating Activities 136.1M 23.50M -47.90M
Cash From Investing Activities -6.800M -9.800M -17.80M
Cash From Financing Activities -181.2M 28.90M 64.30M
Net Change In Cash -51.90M 42.60M -1.400M
YoY Change -221.83% 2266.67% -177.78%
FREE CASH FLOW
Cash From Operating Activities $136.1M $23.50M -$47.90M
Capital Expenditures -$6.800M -$9.800M -$19.00M
Free Cash Flow $142.9M $33.30M -$28.90M
YoY Change 329.13%

Facts In Submission

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DESCRIPTION OF BUSINESS<div><span style="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="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. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant, each of which warrant is exercisable for one share of Class A common stock (the "public warrants"). 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="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="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="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="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 </span></div>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 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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CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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CY2020Q3 us-gaap Operating Lease Liability Current
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38200000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
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35000000.0 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
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93100000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
78200000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
18000000.0 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
16900000 USD
CY2020Q3 us-gaap Operating Lease Liability
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131300000 USD
CY2019Q4 us-gaap Operating Lease Liability
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113200000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y3M18D
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CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
43300000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
43400000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
31600000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
35100000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
24100000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
14200000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
141800000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
23200000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
28600000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
131300000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
113200000 USD
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
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CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
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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
CY2020Q1 us-gaap Noncash Merger Related Costs
NoncashMergerRelatedCosts
25000000.0 USD
CY2020Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
17000000.0 USD
CY2019Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
40300000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
13800000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
45000000.0 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
324300000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
223500000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
8000000.0 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
10200000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
332300000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
233700000 USD
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
208000000.0 USD
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
180200000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
160900000 USD
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
162600000 USD
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
96600000 USD
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
58200000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
465500000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
401000000.0 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
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611600000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
592500000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
204700000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
164300000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
406900000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
428200000 USD
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
189800000 USD
CY2019Q4 us-gaap Contract With Customer Liability Current
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160900000 USD
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
128900000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
145400000 USD
CY2020Q3 us-gaap Litigation Reserve Current
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96600000 USD
CY2019Q4 us-gaap Litigation Reserve Current
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92900000 USD
CY2020Q3 vrt Contract With Customer Other Liability Current
ContractWithCustomerOtherLiabilityCurrent
48300000 USD
CY2019Q4 vrt Contract With Customer Other Liability Current
ContractWithCustomerOtherLiabilityCurrent
39800000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
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38200000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
35000000.0 USD
CY2020Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
33100000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
43200000 USD
CY2020Q3 us-gaap Restructuring Reserve
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77300000 USD
CY2019Q4 us-gaap Restructuring Reserve
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22200000 USD
CY2020Q3 us-gaap Other Liabilities Current
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264600000 USD
CY2019Q4 us-gaap Other Liabilities Current
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328300000 USD
CY2020Q3 us-gaap Accrued Liabilities Current
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876800000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
867700000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
43200000 USD
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
44900000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
18600000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
18700000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
28700000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
25300000 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
33100000 USD
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
38300000 USD
CY2020Q3 vrt Tax Receivable Agreement
TaxReceivableAgreement
147100000 USD
vrt Tax Receivable Agreement Effect Of One Percentage Point Change On Fair Value
TaxReceivableAgreementEffectOfOnePercentagePointChangeOnFairValue
10000000.0 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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3400000 USD
us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Before Tax After Reclassification Adjustment Attributable To Parent
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionBeforeTaxAfterReclassificationAdjustmentAttributableToParent
5100000 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
-13700000 USD
CY2020Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
147100000 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 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
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
CY2020Q1 vrt Tax Receivable Agreement Estimated Payments Undiscounted
TaxReceivableAgreementEstimatedPaymentsUndiscounted
191500000 USD
CY2020Q3 vrt Interest Expense Tax Receivable Agreement
InterestExpenseTaxReceivableAgreement
2700000 USD
vrt Interest Expense Tax Receivable Agreement
InterestExpenseTaxReceivableAgreement
18800000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Financial Liability Fair Value Option Before Tax After Reclassification Adjustment Attributable To Parent
OtherComprehensiveIncomeLossFinancialLiabilityFairValueOptionBeforeTaxAfterReclassificationAdjustmentAttributableToParent
-11100000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
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2900000 USD
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
10600000 USD
CY2020Q3 vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
32500000 USD
CY2019Q3 vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
31400000 USD
vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
97100000 USD
vrt Amortization Of Intangible Assets Excluding Software
AmortizationOfIntangibleAssetsExcludingSoftware
96700000 USD
CY2020Q3 us-gaap Restructuring Charges
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71700000 USD
CY2019Q3 us-gaap Restructuring Charges
RestructuringCharges
4000000.0 USD
us-gaap Restructuring Charges
RestructuringCharges
73000000.0 USD
us-gaap Restructuring Charges
RestructuringCharges
9400000 USD
CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-11700000 USD
CY2019Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
4800000 USD
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
6600000 USD
CY2020Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
9400000 USD
CY2019Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
21700000 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2020Q3 vrt Other Operating And Non Operating Income And Expense Other
OtherOperatingAndNonOperatingIncomeAndExpenseOther
-900000 USD
CY2019Q3 vrt Other Operating And Non Operating Income And Expense Other
OtherOperatingAndNonOperatingIncomeAndExpenseOther
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OtherOperatingAndNonOperatingIncomeAndExpenseOther
-1900000 USD
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OtherOperatingAndNonOperatingIncomeAndExpenseOther
900000 USD
CY2020Q3 us-gaap Other General Expense
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126200000 USD
CY2019Q3 us-gaap Other General Expense
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31600000 USD
us-gaap Other General Expense
OtherGeneralExpense
210000000.0 USD
us-gaap Other General Expense
OtherGeneralExpense
98600000 USD
CY2020Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
2900000 USD
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
3400000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1162000000.0 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1070700000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3064900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3259700000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8700000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-17300000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-206000000.0 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-76000000.0 USD
CY2020Q3 us-gaap Assets
Assets
4771700000 USD
CY2019Q4 us-gaap Assets
Assets
4657400000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1162000000.0 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1070700000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3064900000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3259700000 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
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11770000
vrt Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y5M4D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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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
300325000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
11910000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6969040000000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11770000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y5M4D
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12500000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-15800000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
328411705 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118261955 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
299266849 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118261955 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019Q3 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
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
328411705 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118261955 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
299266849 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118261955 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.90
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.90
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
CY2020Q3 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
31700000 USD

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report.css Edgar Link pending
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vrt-20200930.xsd Edgar Link pending
vrt-20200930_cal.xml Edgar Link unprocessable
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vrt-20200930_pre.xml Edgar Link unprocessable