2023 Q1 Form 10-K Financial Statement

#000162828023005248 Filed on February 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.521B $1.655B $5.692B
YoY Change 31.54% 17.31% 13.87%
Cost Of Revenue $1.026B $1.143B $4.075B
YoY Change 20.26% 10.23% 17.26%
Gross Profit $495.5M $511.7M $1.616B
YoY Change 63.21% 36.93% 6.13%
Gross Profit Margin 32.58% 30.93% 28.39%
Selling, General & Admin $308.7M $303.3M $1.178B
YoY Change 5.65% -7.92% 6.25%
% of Gross Profit 62.3% 59.27% 72.91%
Research & Development $282.0M
YoY Change 5.86%
% of Gross Profit 17.45%
Depreciation & Amortization $17.70M $70.50M $302.4M
YoY Change -1.12% 0.86% 33.22%
% of Gross Profit 3.57% 13.78% 18.71%
Operating Expenses $308.7M $346.8M $1.460B
YoY Change 5.65% -7.37% 6.17%
Operating Profit $130.3M $164.9M $223.4M
YoY Change -388.27% -23657.14% -14.04%
Interest Expense $46.80M -$80.80M $147.3M
YoY Change 59.73% 132.18% 62.58%
% of Operating Profit 35.92% -49.0% 65.94%
Other Income/Expense, Net
YoY Change
Pretax Income $87.70M $83.50M $167.0M
YoY Change 329.9% 286.57% 0.48%
Income Tax $37.40M $56.90M $90.40M
% Of Pretax Income 42.65% 68.14% 54.13%
Net Earnings $50.30M $26.60M $76.60M
YoY Change 491.76% 20.91% -35.95%
Net Earnings / Revenue 3.31% 1.61% 1.35%
Basic Earnings Per Share $0.13 $0.20
Diluted Earnings Per Share $0.12 $0.07 -$0.04
COMMON SHARES
Basic Shares Outstanding 377.6M shares 377.3M shares 376.7M shares
Diluted Shares Outstanding 381.7M shares 378.2M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $276.1M $260.6M $260.6M
YoY Change -4.3% -40.65% -40.65%
Cash & Equivalents $276.1M $260.6M $260.6M
Short-Term Investments
Other Short-Term Assets $169.1M $187.3M $187.3M
YoY Change 33.46% 75.37% 75.37%
Inventory $903.5M $822.0M $822.0M
Prepaid Expenses
Receivables $1.992B $1.889B $1.889B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.341B $3.159B $3.159B
YoY Change 22.64% 17.05% 17.05%
LONG-TERM ASSETS
Property, Plant & Equipment $496.4M $489.4M $655.8M
YoY Change 2.29% 0.02% 2.12%
Goodwill $1.295B $1.285B
YoY Change -1.69% -3.41%
Intangibles $1.787B $1.816B
YoY Change -13.04% -15.06%
Long-Term Investments
YoY Change
Other Assets $117.5M $134.0M $180.4M
YoY Change -57.6% -43.1% 38.24%
Total Long-Term Assets $3.915B $3.937B $3.937B
YoY Change -6.5% -7.17% -7.17%
TOTAL ASSETS
Total Short-Term Assets $3.341B $3.159B $3.159B
Total Long-Term Assets $3.915B $3.937B $3.937B
Total Assets $7.255B $7.096B $7.096B
YoY Change 4.98% 2.25% 2.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $917.0M $984.0M $984.0M
YoY Change 3.32% 14.62% 14.62%
Accrued Expenses $496.4M $872.4M $513.7M
YoY Change -48.95% -8.5% -22.45%
Deferred Revenue $502.9M $309.4M
YoY Change 71.11% 29.51%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.80M $21.80M $21.80M
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $1.972B $1.898B $1.898B
YoY Change 3.56% 2.32% 2.32%
LONG-TERM LIABILITIES
Long-Term Debt $3.156B $3.169B $3.169B
YoY Change 7.12% 7.41% 7.41%
Other Long-Term Liabilities $223.1M $219.6M $410.3M
YoY Change -37.58% -40.36% -20.76%
Total Long-Term Liabilities $3.379B $3.389B $3.579B
YoY Change 2.28% 2.11% 3.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.972B $1.898B $1.898B
Total Long-Term Liabilities $3.379B $3.389B $3.579B
Total Liabilities $5.705B $5.654B $5.654B
YoY Change 4.54% 2.39% 2.39%
SHAREHOLDERS EQUITY
Retained Earnings -$1.092B -$1.143B
YoY Change -9.5% -5.99%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.551B $1.442B $1.442B
YoY Change
Total Liabilities & Shareholders Equity $7.255B $7.096B $7.096B
YoY Change 4.98% 2.25% 2.25%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $50.30M $26.60M $76.60M
YoY Change 491.76% 20.91% -35.95%
Depreciation, Depletion And Amortization $17.70M $70.50M $302.4M
YoY Change -1.12% 0.86% 33.22%
Cash From Operating Activities $42.00M $180.7M -$152.8M
YoY Change -131.77% 395.07% -172.45%
INVESTING ACTIVITIES
Capital Expenditures $27.80M $41.30M $100.0M
YoY Change 84.11% -229.87% 36.24%
Acquisitions $5.000M
YoY Change -99.57%
Other Investing Activities $12.40M $3.900M -$1.100M
YoY Change -100.34% -99.9%
Cash From Investing Activities -$17.40M -$37.40M -$112.1M
YoY Change -4.4% -96.8% -90.79%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $3.800M
YoY Change 0.0%
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$18.80M -144.5M $100.2M
YoY Change 1153.33% -117.44% -89.05%
NET CHANGE
Cash From Operating Activities $42.00M 180.7M -$152.8M
Cash From Investing Activities -$17.40M -37.40M -$112.1M
Cash From Financing Activities -$18.80M -144.5M $100.2M
Net Change In Cash $7.600M -1.200M -$173.9M
YoY Change -105.05% -99.61% 82.09%
FREE CASH FLOW
Cash From Operating Activities $42.00M $180.7M -$152.8M
Capital Expenditures $27.80M $41.30M $100.0M
Free Cash Flow $14.20M $139.4M -$252.8M
YoY Change -109.64% 104.1% -283.85%

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SharesPaidForTaxWithholdingForShareBasedCompensation
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CY2021 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
876358 shares
CY2022 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
312761 shares
CY2022 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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4300000 usd
CY2022 us-gaap Number Of Reportable Segments
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CY2022 us-gaap Number Of Operating Segments
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CY2020Q1 vrt Payment To Vertiv Stockholder
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CY2020Q1 us-gaap Repayments Of Long Term Debt
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
439100000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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534600000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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12600000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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8000000.0 usd
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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273200000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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447100000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
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CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
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236500000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
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274800000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
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168300000 usd
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
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105000000.0 usd
CY2022Q4 us-gaap Inventory Net
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CY2021Q4 us-gaap Inventory Net
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616300000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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800300000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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310900000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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266000000.0 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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489400000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2022 us-gaap Standard Product Warranty Description
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Warranties generally extend for one to two years from the date of sale. Provisions for warranty are determined primarily based on historical warranty cost as a percentage of sales, adjusted for specific issues that may arise.Product warranty expense is approximately one percent of product sales and the product warranty accrual is reflected in accrued expenses on the Consolidated Balance Sheets.
CY2021Q4 us-gaap Product Warranty Accrual
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CY2020Q4 us-gaap Product Warranty Accrual
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36500000 usd
CY2019Q4 us-gaap Product Warranty Accrual
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43300000 usd
CY2022 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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16000000.0 usd
CY2021 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
16600000 usd
CY2020 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
27800000 usd
CY2022 us-gaap Product Warranty Accrual Payments
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CY2021 us-gaap Product Warranty Accrual Payments
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CY2020 us-gaap Product Warranty Accrual Payments
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CY2022Q4 us-gaap Product Warranty Accrual
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25600000 usd
CY2021Q4 us-gaap Product Warranty Accrual
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30000000.0 usd
CY2020Q4 us-gaap Product Warranty Accrual
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CY2022 us-gaap Derivative Gain Loss On Derivative Net
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CY2021 us-gaap Derivative Gain Loss On Derivative Net
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CY2020 us-gaap Derivative Gain Loss On Derivative Net
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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4998100000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2022Q4 us-gaap Contract With Customer Liability Current
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CY2021Q4 us-gaap Contract With Customer Liability Current
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CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
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49500000 usd
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
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CY2022Q4 vrt Contract With Customer Other Liability Current
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CY2021Q4 vrt Contract With Customer Other Liability Current
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022 us-gaap Restructuring Charges
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CY2022Q4 us-gaap Restructuring Reserve
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CY2020Q4 us-gaap Restructuring Reserve
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CY2021 us-gaap Restructuring Charges
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CY2021Q4 us-gaap Restructuring Reserve
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CY2019Q4 us-gaap Restructuring Reserve
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CY2020 us-gaap Payments For Restructuring
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CY2020 us-gaap Restructuring Charges
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CY2020Q4 us-gaap Restructuring Reserve
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CY2022 us-gaap Restructuring Charges
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CY2021 us-gaap Restructuring Charges
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CY2020 us-gaap Restructuring Charges
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CY2020Q4 us-gaap Goodwill
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CY2021 us-gaap Goodwill Acquired During Period
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CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2021 us-gaap Goodwill Impairment Loss
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CY2021Q4 us-gaap Goodwill
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CY2022 us-gaap Goodwill Acquired During Period
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CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2022Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q4 us-gaap Finite Lived Intangible Assets Net
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CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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289400000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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CY2021Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
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295200000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
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CY2022 us-gaap Amortization Of Intangible Assets
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CY2021 us-gaap Amortization Of Intangible Assets
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CY2020 us-gaap Amortization Of Intangible Assets
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2021Q4 us-gaap Proceeds From Divestiture Of Businesses
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CY2021Q4 us-gaap Proceeds From Divestiture Of Businesses
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CY2021Q4 us-gaap Capitalized Computer Software Impairments1
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CY2022 us-gaap Goodwill Impairment Loss
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2022Q4 us-gaap Long Term Debt
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CY2021Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt Current
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CY2021Q4 us-gaap Long Term Debt Current
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CY2022Q4 us-gaap Long Term Debt Noncurrent
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CY2021Q4 us-gaap Long Term Debt Noncurrent
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2022Q4 us-gaap Debt Instrument Carrying Amount
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CY2022 us-gaap Operating Lease Cost
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CY2021 us-gaap Operating Lease Cost
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CY2022 vrt Short Term And Variable Lease Costs
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CY2021 vrt Short Term And Variable Lease Costs
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CY2022 us-gaap Lease Cost
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CY2021 us-gaap Lease Cost
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CY2022 us-gaap Operating Lease Payments
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CY2021 us-gaap Operating Lease Payments
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q4 us-gaap Operating Lease Right Of Use Asset
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CY2021Q4 us-gaap Operating Lease Right Of Use Asset
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CY2022Q4 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Operating Lease Liability Current
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CY2022Q4 us-gaap Operating Lease Liability Noncurrent
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CY2021Q4 us-gaap Operating Lease Liability Noncurrent
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CY2022Q4 us-gaap Operating Lease Liability
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CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P6Y9M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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62900000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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221000000.0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
45400000 usd
CY2022Q4 us-gaap Operating Lease Liability
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175600000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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59600000 usd
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
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CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
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52200000 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation
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71300000 usd
CY2022Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
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46000000.0 usd
CY2021Q4 us-gaap Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation
64000000.0 usd
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear
300000 usd
CY2022Q4 vrt Defined Benefit Plan Expected Net Periodic Benefit Cost Credit Next Fiscal Year
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5000000.0 usd
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
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CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
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0.0204
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
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0.0512
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
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0.0523
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
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CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase
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0.0341
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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0.0529
CY2021Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate
0.0296
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
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0.0403
CY2021Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase
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0.0383
CY2022 vrt Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Investment Returns On Plan Assets Lookback Period
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostInvestmentReturnsOnPlanAssetsLookbackPeriod
P10Y
CY2022 us-gaap Defined Benefit Plan Actual Return On Plan Assets Still Held
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CY2021 us-gaap Defined Benefit Plan Actual Return On Plan Assets Still Held
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CY2022 us-gaap Defined Benefit Plan Purchases Sales And Settlements
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CY2021 us-gaap Defined Benefit Plan Purchases Sales And Settlements
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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0.541
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
250000000.0 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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238900000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
118600000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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167000000.0 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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166200000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
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953400000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
110200000 usd
CY2022Q4 us-gaap Accrued Liabilities Fair Value Disclosure
AccruedLiabilitiesFairValueDisclosure
58700000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
16100000 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
3700000 usd
CY2021Q4 us-gaap Accrued Liabilities Fair Value Disclosure
AccruedLiabilitiesFairValueDisclosure
160700000 usd
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2400000 usd
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
10500000 usd
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
6400000 usd
CY2022 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
11100000 usd
CY2021 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
1300000 usd
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2400000 usd
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
10500000 usd
CY2020 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
6400000 usd
CY2021Q4 vrt Number Of New Operating Segments
NumberOfNewOperatingSegments
2 segment
CY2021Q4 vrt Number Of New Reporting Units
NumberOfNewReportingUnits
2 reporting_unit
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5691500000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4998100000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4370600000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3700000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3200000 usd
CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-26000000.0 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
223400000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
259900000 usd
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
213500000 usd
CY2022Q4 us-gaap Assets
Assets
7095700000 usd
CY2021Q4 us-gaap Assets
Assets
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CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
302400000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
227000000.0 usd
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
203100000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
100000000.0 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73400000 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44400000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
5691500000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4998100000 usd
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4370600000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8362716 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.56
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4986946 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.61
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
264552 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
11.82
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2472300 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.92
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10612810 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.40
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M18D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16000000.0 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3009216 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.62
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y18D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4600000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
76600000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
119600000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-327300000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
376730519 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
376730519 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
355544632 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
355544632 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
307076397 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
307076397 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.07
CY2022 us-gaap Net Income Loss
NetIncomeLoss
76600000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
119600000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-327300000 usd
CY2022 vrt Dilutive Securities Effect On Basic Earnings Per Share Dilutive Warrant Liabilities
DilutiveSecuritiesEffectOnBasicEarningsPerShareDilutiveWarrantLiabilities
-90900000 usd
CY2021 vrt Dilutive Securities Effect On Basic Earnings Per Share Dilutive Warrant Liabilities
DilutiveSecuritiesEffectOnBasicEarningsPerShareDilutiveWarrantLiabilities
0 usd
CY2020 vrt Dilutive Securities Effect On Basic Earnings Per Share Dilutive Warrant Liabilities
DilutiveSecuritiesEffectOnBasicEarningsPerShareDilutiveWarrantLiabilities
0 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14300000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
119600000 usd
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-327300000 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
376730519 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
376730519 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
355544632 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
355544632 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
307076397 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
307076397 shares
CY2022 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1493532 shares
CY2021 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2020 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2022 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4595691 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
378224051 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
360140323 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
307076397 shares
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.07
CY2022 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1500000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4600000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2020 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
156500000 usd
CY2020 vrt Stock Issued During Period Shares Warrants Exercised Net
StockIssuedDuringPeriodSharesWarrantsExercisedNet
13600000 shares
CY2021Q1 vrt Stock Issued During Period Shares Warrants Exercised Net
StockIssuedDuringPeriodSharesWarrantsExercisedNet
9300000 shares
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
107500000 usd
CY2021Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2021Q3 vrt Loss Contingency Barred From Recovery Value
LossContingencyBarredFromRecoveryValue
9000000.0 usd
CY2021Q3 vrt Loss Contingency Disgorgement Value
LossContingencyDisgorgementValue
10000000.0 usd
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd

Files In Submission

Name View Source Status
vrt-20221231_lab.xml Edgar Link unprocessable
vrt-20221231_cal.xml Edgar Link unprocessable
vrt-20221231_def.xml Edgar Link unprocessable
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0001628280-23-005248-index.html Edgar Link pending
0001628280-23-005248.txt Edgar Link pending
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exhibit1027-giordanosemplo.htm Edgar Link pending
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