$VRT
Vertiv Holdings Co

2022 Q4 Form 10-Q Financial Statement

#000162828022027344 Filed on October 31, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $1.655B $1.481B
YoY Change 17.31% 20.52%
Cost Of Revenue $1.143B $1.052B
YoY Change 10.23% 24.15%
Gross Profit $511.7M $429.3M
YoY Change 36.93% 12.47%
Gross Profit Margin 30.93% 28.99%
Selling, General & Admin $303.3M $295.2M
YoY Change -7.92% 14.51%
% of Gross Profit 59.27% 68.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.50M $75.70M
YoY Change 0.86% 47.28%
% of Gross Profit 13.78% 17.63%
Operating Expenses $346.8M $350.6M
YoY Change -7.37% 36.0%
Operating Profit $164.9M $78.70M
YoY Change -23657.14% -3.79%
Interest Expense -$80.80M -$48.80M
YoY Change 132.18% -317.86%
% of Operating Profit -49.0% -62.01%
Other Income/Expense, Net
YoY Change
Pretax Income $83.50M $31.40M
YoY Change 286.57% -65.83%
Income Tax $56.90M $10.20M
% Of Pretax Income 68.14% 32.48%
Net Earnings $26.60M $21.20M
YoY Change 20.91% -62.28%
Net Earnings / Revenue 1.61% 1.43%
Basic Earnings Per Share $0.06
Diluted Earnings Per Share $0.07 $56.17K
COMMON SHARES
Basic Shares Outstanding 377.3M shares 377.0M shares
Diluted Shares Outstanding 377.4M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $260.6M $258.0M
YoY Change -40.65% -65.3%
Cash & Equivalents $260.6M $258.0M
Short-Term Investments
Other Short-Term Assets $187.3M $167.7M
YoY Change 75.37% 8.61%
Inventory $822.0M $804.3M
Prepaid Expenses
Receivables $1.889B $1.744B
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.159B $2.974B
YoY Change 17.05% 3.92%
LONG-TERM ASSETS
Property, Plant & Equipment $489.4M $466.0M
YoY Change 0.02% 19.98%
Goodwill $1.285B $1.247B
YoY Change -3.41% 111.91%
Intangibles $1.816B $1.802B
YoY Change -15.06% 51.23%
Long-Term Investments
YoY Change
Other Assets $134.0M $338.3M
YoY Change -43.1% 56.26%
Total Long-Term Assets $3.937B $3.853B
YoY Change -7.17% 60.54%
TOTAL ASSETS
Total Short-Term Assets $3.159B $2.974B
Total Long-Term Assets $3.937B $3.853B
Total Assets $7.096B $6.827B
YoY Change 2.25% 29.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $984.0M $882.9M
YoY Change 14.62% 14.84%
Accrued Expenses $872.4M $900.3M
YoY Change -8.5% 9.05%
Deferred Revenue $309.4M $278.7M
YoY Change 29.51% 18.9%
Short-Term Debt $0.00 $16.80M
YoY Change
Long-Term Debt Due $21.80M $21.80M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $1.898B $1.838B
YoY Change 2.32% 11.63%
LONG-TERM LIABILITIES
Long-Term Debt $3.169B $3.224B
YoY Change 7.41% 52.18%
Other Long-Term Liabilities $219.6M $345.6M
YoY Change -40.36% -28.62%
Total Long-Term Liabilities $3.389B $3.569B
YoY Change 2.11% 37.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.898B $1.838B
Total Long-Term Liabilities $3.389B $3.569B
Total Liabilities $5.654B $5.560B
YoY Change 2.39% 24.22%
SHAREHOLDERS EQUITY
Retained Earnings -$1.143B -$1.165B
YoY Change -5.99% -5.53%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.442B $1.267B
YoY Change
Total Liabilities & Shareholders Equity $7.096B $6.827B
YoY Change 2.25% 29.75%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $26.60M $21.20M
YoY Change 20.91% -62.28%
Depreciation, Depletion And Amortization $70.50M $75.70M
YoY Change 0.86% 47.28%
Cash From Operating Activities $180.7M $4.400M
YoY Change 395.07% -91.91%
INVESTING ACTIVITIES
Capital Expenditures $41.30M -$24.80M
YoY Change -229.87% 45.88%
Acquisitions
YoY Change
Other Investing Activities $3.900M $0.00
YoY Change -100.34% -100.0%
Cash From Investing Activities -$37.40M -$24.80M
YoY Change -96.8% 127.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -144.5M 91.20M
YoY Change -117.44% -1853.85%
NET CHANGE
Cash From Operating Activities 180.7M 4.400M
Cash From Investing Activities -37.40M -24.80M
Cash From Financing Activities -144.5M 91.20M
Net Change In Cash -1.200M 70.80M
YoY Change -99.61% 84.86%
FREE CASH FLOW
Cash From Operating Activities $180.7M $4.400M
Capital Expenditures $41.30M -$24.80M
Free Cash Flow $139.4M $29.20M
YoY Change 104.1% -59.1%

Facts In Submission

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<div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(1) DESCRIPTION OF BUSINESS</span></div><div style="margin-bottom:9pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Vertiv Holdings Co (together with its majority-owned subsidiaries, “Vertiv”, “we”, “our”, or “the Company”), formerly known as GS Acquisition Holdings Corp, provides mission-critical infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. Vertiv’s offerings include AC and DC power management products, thermal management products, integrated rack systems, modular solutions, management systems for monitoring and controlling digital infrastructure, and service. Vertiv manages and reports results of operations for three reportable segments: Americas; Asia Pacific; and Europe, Middle East &amp; Africa.</span></div>
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