← Vertiv Holdings Co
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | $76.6m | $460.2m | $495.8m | $1.3b | |
| Net Income (Loss) Attributable to Parent | ($1k) | $5.0m | $4.4m | ($327.3m) | $119.6m | $76.6m | $460.2m | $495.8m | $1.3b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($1k) | $5.0m | $4.4m | — | — | — | — | — | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | ($327.3m) | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | $0 | — | — | — | — | — | |
| Depreciation, Depletion and Amortization | — | $60.4m | $57.1m | $203.1m | $227.0m | $302.4m | $271.0m | $277.0m | $308.6m | |
| Amortization of Debt Issuance Costs and Discounts | — | — | — | $10.5m | $6.3m | $7.5m | $7.9m | $7.0m | $5.9m | |
| Amortization of Intangible Assets | — | — | — | $142.8m | $157.9m | $230.4m | $196.7m | $195.4m | $211.5m | |
| Depreciation | — | $60.4m | $57.1m | $60.3m | $69.1m | $72.0m | $74.3m | $81.6m | $97.1m | |
| Amortization | — | $156.6m | $145.8m | $142.8m | $157.9m | $230.4m | $196.7m | $195.4m | $211.5m | |
| Amortization of debt discount and issuance costs | — | $25.5m | $27.9m | $10.5m | $6.3m | $7.5m | $7.9m | $7.0m | $5.9m | |
| Amortization Cash Flow | — | — | — | — | — | $230.4m | $196.7m | $195.4m | $211.5m | |
| Amortization Of Intangibles | — | — | — | — | — | $230.4m | $196.7m | $195.4m | $211.5m | |
| Depreciation Amortization Depletion | — | — | — | — | — | $302.4m | $271.0m | $277.0m | $308.6m | |
| Deferred income taxes | — | ($40.3m) | ($13.8m) | ($1.4m) | ($69.8m) | ($8.6m) | ($131.6m) | ($54.5m) | $22.6m | |
| Deferred Income Tax | — | — | — | — | — | ($8.6m) | ($131.6m) | ($54.5m) | $22.6m | |
| Deferred Tax | — | — | — | — | — | ($8.6m) | ($131.6m) | ($54.5m) | $22.6m | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | $13.0m | $23.2m | $24.7m | $25.0m | $34.6m | $45.9m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | — | — | $7.3m | $4.3m | $3.3m | $21.9m | $11.2m | |
| Goodwill, Impairment Loss | — | — | — | — | $8.7m | $0 | — | — | — | |
| Impairment of Intangible Assets, Finite-lived | — | — | — | $21.0m | — | — | — | — | — | |
| Asset Impairment Charge | — | — | — | — | $8.7m | $0 | $0 | — | — | |
| Gain (Loss) on Disposition of Business | — | — | — | $0 | — | — | — | — | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | $18.0m | $5.0m | $7.0m | $9.8m | $3.7m | $0 | $0 | $0 | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | ($174.0m) | ($400k) | $0 | ($500k) | ($2.4m) | ($1.7m) | |
| Income Tax Expense (Benefit) | — | $1.3m | $2.1m | $72.7m | $46.6m | $90.4m | $73.5m | $269.6m | $409.1m | |
| Operating Lease, Expense | — | — | — | $78.6m | $76.6m | $78.8m | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||||
| Changes in operating working capital | — | ($110.0m) | ($36.4m) | ($60.8m) | ($132.8m) | ($449.2m) | $66.7m | $114.1m | $339.3m | |
| Additional Financial Items | ||||||||||
| Increase (Decrease) in Accounts Receivable | — | — | — | $114.8m | $117.4m | $375.8m | $272.5m | $280.3m | $547.5m | |
| Increase (Decrease) in Inventories | — | — | — | $38.5m | $125.7m | $211.4m | $54.0m | $369.3m | $164.7m | |
| Increase (Decrease) in Accounts Payable | $1k | $643k | $5.4m | $78.2m | $105.1m | $132.8m | ($17.7m) | $343.1m | $381.2m | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | ($26.0m) | ($3.2m) | ($3.7m) | ($16.0m) | ($9.3m) | ($12.0m) | |
| General and Administrative Expense | $1k | $1.0m | $7.7m | — | — | — | — | — | — | |
| Goodwill | — | — | — | $607.2m | $1.3b | $1.3b | $1.3b | $1.3b | $2.0b | |
| Noncash Merger Related Costs | — | — | — | $25.0m | $25.0m | — | — | — | — | |
| Proceeds from Stock Options Exercised | — | — | — | — | $4.1m | $3.1m | $27.4m | $33.0m | $26.4m | |
| Change in fair value of warrant liabilities | — | — | $0 | $143.7m | $61.9m | ($90.9m) | $157.9m | $449.2m | $0 | |
| Stock-based compensation | — | $0 | $0 | $13.0m | $23.2m | $24.7m | $25.0m | $34.6m | $45.9m | |
| Other | — | $6.8m | $17.7m | $11.8m | $17.9m | ($2.9m) | $43.4m | ($3.9m) | $58.7m | |
| Investments in capitalized software | — | ($41.2m) | ($22.7m) | ($8.3m) | ($11.2m) | ($11.0m) | ($6.7m) | ($17.1m) | ($6.4m) | |
| Proceeds from sale of business | — | $4.4m | $0 | $0 | $21.7m | $0 | $11.9m | $0 | $0 | |
| Borrowings from ABL revolving credit facility and short-term borrowings | — | — | $491.8m | $346.2m | $0 | $790.8m | $224.9m | $270.0m | $0 | |
| Repayments of ABL revolving credit facility and short-term borrowings | — | — | ($591.2m) | ($493.7m) | $0 | ($555.8m) | ($459.9m) | ($270.0m) | $0 | |
| Exercise of employee stock options | — | — | $0 | $0 | $4.1m | $3.1m | $27.4m | $33.0m | $26.4m | |
| Accounts receivable | — | ($139.6m) | $39.8m | ($114.8m) | ($117.4m) | ($375.8m) | ($272.5m) | ($280.3m) | ($547.5m) | |
| Inventories | — | ($73.7m) | $85.5m | ($38.5m) | ($125.7m) | ($211.4m) | ($54.0m) | ($369.3m) | ($164.7m) | |
| Other current assets | — | ($66.5m) | ($41.6m) | $7.8m | $2.1m | ($28.8m) | $0 | ($63.7m) | ($72.9m) | |
| Accounts payable | — | $643k | $5.4m | $78.2m | $105.1m | $132.8m | ($17.7m) | $343.1m | $381.2m | |
| Deferred revenue | — | — | — | — | $55.3m | $67.6m | $274.2m | $434.5m | $717.5m | |
| Accrued expenses and other liabilities | — | $94k | ($94k) | $13.3m | $11.9m | $45.6m | $91.5m | $7.0m | $93.1m | |
| Income taxes | — | $17.7m | ($14.1m) | ($6.8m) | ($8.8m) | ($11.6m) | $45.2m | $42.8m | ($67.4m) | |
| Beginning Cash Position | — | — | — | — | — | $447.1m | $273.2m | $788.6m | $1.2b | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | $100.2m | ($247.5m) | ($652.1m) | ($72.3m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | ($112.1m) | ($139.1m) | ($201.7m) | ($1.5b) | |
| Change In Account Payable | — | — | — | — | — | $132.8m | ($17.7m) | $343.1m | $381.2m | |
| Change In Accrued Expense | — | — | — | — | — | ($22.0m) | $91.5m | $7.0m | $93.1m | |
| Change In Income Tax Payable | — | — | — | — | ($8.8m) | ($11.6m) | $45.2m | $42.8m | — | |
| Change In Inventory | — | — | — | — | — | ($211.4m) | ($54.0m) | ($369.3m) | ($164.7m) | |
| Change In Other Current Assets | — | — | — | — | — | ($36.6m) | $4.7m | ($63.7m) | ($72.9m) | |
| Change In Other Working Capital | — | — | — | — | — | $56.0m | $319.4m | $477.3m | $650.1m | |
| Change In Payable | — | — | — | — | — | $132.8m | ($17.7m) | $343.1m | $381.2m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | $110.8m | $73.8m | $350.1m | $474.3m | |
| Change In Receivables | — | — | — | — | — | ($368.0m) | ($277.2m) | ($280.3m) | ($547.5m) | |
| Change In Tax Payable | — | — | — | — | ($8.8m) | ($11.6m) | $45.2m | $42.8m | — | |
| Change In Working Capital | — | — | — | — | — | ($449.2m) | $66.7m | $114.1m | $339.3m | |
| Changes In Account Receivables | — | — | — | — | — | ($368.0m) | ($277.2m) | ($280.3m) | ($547.5m) | |
| Changes In Cash | — | — | — | — | — | ($164.7m) | $513.9m | $465.5m | $540.7m | |
| End Cash Position | — | — | — | — | — | $273.2m | $788.6m | $1.2b | $1.8b | |
| Financing Cash Flow | — | — | — | — | — | $100.2m | ($247.5m) | ($652.1m) | ($72.3m) | |
| Free Cash Flow | — | — | — | — | — | ($263.8m) | $765.9m | $1.1b | $1.9b | |
| Gain Loss On Investment Securities | — | — | — | — | $61.9m | ($90.9m) | $157.9m | $449.2m | — | |
| Gain Loss On Sale Of PPE | — | — | — | — | $0 | ($3.7m) | $0 | $0 | — | |
| Investing Cash Flow | — | — | — | — | — | ($112.1m) | ($139.1m) | ($201.7m) | ($1.5b) | |
| Net Business Purchase And Sale | — | — | — | — | — | ($5.0m) | ($16.9m) | ($17.6m) | ($1.2b) | |
| Net Intangibles Purchase And Sale | — | — | — | — | ($11.2m) | ($11.0m) | ($6.7m) | — | — | |
| Net PPE Purchase And Sale | — | — | — | — | — | $3.9m | $12.4m | $0 | $0 | |
| Operating Gains Losses | — | — | — | — | $61.9m | ($94.6m) | $157.9m | $449.2m | — | |
| Other Non Cash Items | — | — | — | — | — | ($4.1m) | $51.3m | $3.1m | $64.6m | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | $3.1m | $27.4m | $33.0m | $26.4m | |
| Purchase Of Business | — | — | — | — | — | ($5.0m) | ($28.8m) | ($17.6m) | ($1.2b) | |
| Purchase Of Intangibles | — | — | — | — | ($11.2m) | ($11.0m) | ($6.7m) | — | — | |
| Repurchase Of Capital Stock | — | — | — | — | — | $0 | $0 | ($599.9m) | $0 | |
| Sale Of Business | — | — | — | — | — | $0 | $11.9m | $0 | $0 | |
| Sale Of PPE | — | — | — | — | — | $3.9m | $12.4m | $0 | $0 | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | — | — | ($700k) | — | |
| Derivative, Gain (Loss) on Derivative, Net | — | — | — | $900k | $600k | ($400k) | ($800k) | ($2.5m) | ($2.9m) | |
| Other Operating Income (Expense), Net | — | — | — | — | $3.8m | $5.8m | $9.9m | $6.0m | ($800k) | |
| Net Cash Provided by (Used in) Operating Activities | — | ($710k) | $9.7m | $208.9m | $210.9m | ($152.8m) | $900.5m | $1.3b | $2.1b | |
| Cash flows from investing activities: | ||||||||||
| Payments to Acquire Property, Plant, and Equipment | — | $4.2m | $1.8m | $44.4m | $73.4m | $100.0m | $127.9m | $167.0m | $220.0m | |
| Capital Expenditure Reported | — | — | — | $44.4m | $73.4m | ($111.0m) | ($134.6m) | ($184.1m) | ($226.4m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | $0 | $1.2b | $5.0m | $28.8m | $17.6m | $1.2b | |
| Acquisition of businesses, net of cash acquired | — | ($124.3m) | $0 | $0 | ($1.2b) | ($5.0m) | ($28.8m) | ($17.6m) | ($1.2b) | |
| Purchase of short-term investments | — | — | — | — | — | — | $0 | $0 | ($539.6m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | $0 | $0 | ($89.6m) | |
| Purchase Of Investment | — | — | — | — | — | — | $0 | $0 | ($539.6m) | |
| Proceeds from maturities of short-term investments | — | — | — | — | — | — | $0 | $0 | $450.0m | |
| Sale Of Investment | — | — | — | — | — | — | $0 | $0 | $450.0m | |
| Net cash provided by (used for) investing activities | — | ($690.0m) | ($65.3m) | ($45.7m) | ($1.2b) | ($112.1m) | ($139.1m) | ($201.7m) | ($1.5b) | |
| Net Cash Provided by (Used in) Investing Activities | — | ($690.0m) | — | ($45.7m) | ($1.2b) | ($112.1m) | ($139.1m) | ($201.7m) | ($1.5b) | |
| Cash flows from financing activities: | ||||||||||
| Issuance Of Debt | — | — | — | — | — | $790.8m | $224.9m | $270.0m | $0 | |
| Long Term Debt Issuance | — | — | — | — | — | $790.8m | $224.9m | $270.0m | $0 | |
| Net Issuance Payments Of Debt | — | — | — | — | — | $218.6m | ($262.1m) | ($21.1m) | ($20.9m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | $218.6m | ($262.1m) | ($21.1m) | ($20.9m) | |
| Net Short Term Debt Issuance | — | — | — | — | $0 | $235.0m | — | — | — | |
| Short Term Debt Issuance | — | — | — | — | $0 | $790.8m | — | — | — | |
| Repayment of long-term debt | — | $0 | $0 | ($2.1b) | ($21.8m) | ($16.4m) | ($27.1m) | ($21.1m) | ($20.9m) | |
| Long Term Debt Payments | — | — | — | — | — | ($572.2m) | ($487.0m) | ($291.1m) | ($20.9m) | |
| Repayment Of Debt | — | — | — | — | — | ($572.2m) | ($487.0m) | ($291.1m) | ($20.9m) | |
| Short Term Debt Payments | — | — | — | — | $0 | ($555.8m) | — | — | — | |
| Proceeds from Issuance of Common Stock | — | — | — | $1.8b | $0 | $0 | — | — | — | |
| Net Common Stock Issuance | — | — | — | — | — | $0 | $0 | ($599.9m) | $0 | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $599.9m | $0 | |
| Repurchase of common stock | — | — | — | — | — | $0 | $0 | ($599.9m) | $0 | |
| Common Stock Payments | — | — | — | — | — | $0 | $0 | ($599.9m) | $0 | |
| Dividends paid | — | — | — | $3 | $4 | $4 | $10 | $42 | $67 | |
| Dividend payment | — | $0 | $0 | ($3.3m) | ($3.8m) | ($3.8m) | ($9.5m) | ($42.2m) | ($66.6m) | |
| Cash Dividends Paid | — | — | — | — | — | ($3.8m) | ($9.5m) | ($42.2m) | ($66.6m) | |
| Common Stock Dividend Paid | — | — | — | — | — | ($3.8m) | ($9.5m) | ($42.2m) | ($66.6m) | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | ($2.2m) | $0 | $0 | — | — | — | |
| Net Other Financing Charges | — | — | — | — | — | ($117.7m) | ($3.3m) | ($21.9m) | ($11.2m) | |
| Net cash provided by (used for) financing activities | — | $691.5m | $2.0m | $140.7m | $914.9m | $100.2m | ($247.5m) | ($652.1m) | ($72.3m) | |
| Net Cash Provided by (Used in) Financing Activities | — | $691.5m | $2.0m | $140.7m | $914.9m | $100.2m | ($247.5m) | ($652.1m) | ($72.3m) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $5.0m | ($4.5m) | ($9.2m) | $1.5m | ($21.9m) | $16.9m | |
| Effect of exchange rate changes on cash and cash equivalents | — | $11.6m | $1.4m | $5.0m | ($4.5m) | ($9.2m) | $1.5m | ($21.9m) | $16.9m | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | ($9.2m) | $1.5m | ($21.9m) | $16.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $836k | $11.7m | $308.9m | ($95.5m) | ($173.9m) | $515.4m | $443.6m | $557.6m | |
| Increase (decrease) in cash, cash equivalents and restricted cash | — | $836k | $11.7m | $308.9m | ($95.5m) | ($173.9m) | $515.4m | $443.6m | $557.6m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $836k | $707.4m | $542.6m | $447.1m | $273.2m | $788.6m | $1.2b | $1.8b | |
| Beginning cash, cash equivalents and restricted cash | — | $836k | $707.4m | $542.6m | $447.1m | $273.2m | $788.6m | $1.2b | $1.8b | |
| Supplemental disclosure of cash flow information: | ||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | ($173.9m) | $515.4m | $443.6m | $557.6m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $259.6m | $271.5m | $190.7m | $75.1m | $132.8m | $176.7m | $155.5m | $126.7m | |
| Income Taxes Paid, Net | — | $1.2m | $48.7m | $64.7m | $97.3m | $104.6m | $153.0m | $272.5m | $428.2m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.