Vertiv Holdings Co
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 23, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Shareholders’ Equity (Deficit)
| Share Capital | ||||||
|---|---|---|---|---|---|---|
| Shares | Amount | Additional Paid in Capital | Accumulated Deficit | Accumulated Other Comprehensive (Loss) Income | Total | |
| Balance at December 31, 2020 | 342,024,612 | $— | $1,791.8 | $(1,331.2) | $51.5 | $512.1 |
| Net income (loss) | — | — | — | 119.6 | — | 119.6 |
| Exercise of employee stock options | 370,513 | — | 4.6 | — | — | 4.6 |
| Stock comp activity, net of withholdings for tax (1) | 620,570 | — | 15.8 | — | — | 15.8 |
| Employee 401K match with Vertiv stock | 357,344 | — | 8.2 | — | — | 8.2 |
| Exercise of warrants (2) | 9,346,822 | — | 176.0 | — | — | 176.0 |
| Stock issuance related to acquisition (3) | 23,081,996 | — | 601.1 | — | — | 601.1 |
| Dividend payment | — | — | — | (3.8) | — | (3.8) |
| Other comprehensive income (loss), net of tax | — | — | — | — | (15.9) | (15.9) |
| Balance as of December 31, 2021 | 375,801,857 | $— | $2,597.5 | $(1,215.4) | $35.6 | $1,417.7 |
| Net income (loss) | — | — | — | 76.6 | — | 76.6 |
| Exercise of employee stock options | 202,724 | — | 3.1 | — | — | 3.1 |
| Stock comp activity, net of withholdings for tax (4) | 563,597 | — | 20.4 | — | — | 20.4 |
| Employee 401K match with Vertiv stock | 800,659 | — | 9.7 | — | — | 9.7 |
| Dividend payment | — | — | — | (3.8) | — | (3.8) |
| Other comprehensive income (loss), net of tax | — | — | — | — | (81.8) | (81.8) |
| Balance at December 31, 2022 | 377,368,837 | $— | $2,630.7 | $(1,142.6) | $(46.2) | $1,441.9 |
| Net income (loss) | — | — | — | 460.2 | — | 460.2 |
| Exercise of employee stock options | 2,122,710 | — | 27.4 | — | — | 27.4 |
| Stock comp activity, net of withholdings for tax (5) | 420,170 | — | 21.7 | — | — | 21.7 |
| Employee 401K match with Vertiv stock | 508,965 | — | 9.9 | — | — | 9.9 |
| Exercise of warrants (6) | 1,368,194 | — | 21.6 | — | — | 21.6 |
| Dividend payment | — | — | — | (9.5) | — | (9.5) |
| Other comprehensive income (loss), net of tax | — | — | — | — | 41.7 | 41.7 |
| Balance at December 31, 2023 | 381,788,876 | $— | $2,711.3 | $(691.9) | $(4.5) | $2,014.9 |
(1)Net stock compensation activity includes 943,164 vested shares offset by 322,594 shares withheld for taxes valued at $7.3 and stock-based compensation of $23.2.
(2)The exercise of warrants includes $107.5 of cash received for the exercise of Public Warrants.
(3)On November 1, 2021 the Company issued 23,081,996 shares valued at $601.1 for the acquisition of E&I.
(4)Net stock compensation activity includes 876,358 vested shares offset by 312,761 shares withheld for taxes valued at $4.3 and stock-based compensation of $24.7.
(5)Net stock compensation activity includes 635,663 vested shares offset by 215,493 shares withheld for taxes valued at $3.3 and stock-based compensation of $25.0.
(6)On February 24, 2023, GS Sponsor LLC elected to exercise 5,266,666 warrants on a cashless basis pursuant to the agreement governing the warrants, in exchange for which the Company issued 1,368,194 shares of Class A common stock.
See accompanying Notes to Consolidated Financial Statement
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.