Vertiv Holdings Co
For the period ended Sep 30, 2024. Filed Oct 25, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 25, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Changes in Shareholders’ Equity (Deficit)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT)
| Common Share Capital | ||||||
|---|---|---|---|---|---|---|
| Shares | Amount | Additional Paid in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total | |
| Balance at December 31, 2022 | 377,368,837 | $— | $2,630.7 | $(1,142.6) | $(46.2) | $1,441.9 |
| Net income (loss) | — | — | — | 50.3 | — | 50.3 |
| Exercise of employee stock options | 246,653 | — | 2.2 | — | — | 2.2 |
| Stock-based compensation, net of withholding for tax(1) | 14,730 | — | 5.4 | — | — | 5.4 |
| Employee 401K match with Vertiv stock | 135,245 | — | 2.1 | — | — | 2.1 |
| Exercise of warrants(2) | 1,368,194 | — | 21.6 | — | — | 21.6 |
| Other comprehensive income (loss), net of tax | — | — | — | — | 27.3 | 27.3 |
| Balance at March 31, 2023 | 379,133,659 | $— | $2,662.0 | $(1,092.3) | $(18.9) | $1,550.8 |
| Net income (loss) | — | $— | $— | $83.2 | $— | $83.2 |
| Exercise of employee stock options | 649,884 | — | 7.8 | — | — | 7.8 |
| Stock-based compensation, net of withholding for tax(3) | 365,055 | — | 4.4 | — | — | 4.4 |
| Employee 401K match with Vertiv stock | 217,041 | — | 2.8 | — | — | 2.8 |
| Other comprehensive income (loss), net of tax | — | — | — | — | 9.1 | 9.1 |
| Balance at June 30, 2023 | 380,365,639 | $— | $2,677.0 | $(1,009.1) | $(9.8) | $1,658.1 |
| Net income (loss) | — | $— | $— | $94.1 | $— | $94.1 |
| Exercise of employee stock options | 892,030 | — | 12.9 | — | — | 12.9 |
| Stock-based compensation, net of withholding for tax(4) | 6,465 | — | 6.2 | — | — | 6.2 |
| Employee 401K match with Vertiv stock | 85,022 | — | 2.2 | — | — | 2.2 |
| Other comprehensive income (loss), net of tax | — | — | — | — | (59.6) | (59.6) |
| Balance at September 30, 2023 | 381,349,156 | $— | $2,698.3 | $(915.0) | $(69.4) | $1,713.9 |
(1)Net stock compensation activity includes 14,730 shares withheld for taxes valued at $0.1 and stock-based compensation of $5.5.
(2)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.
(3)Net stock compensation activity includes 562,320 vested shares offset by 197,265 shares withheld for taxes valued at $2.4 and stock-based compensation of $6.8.
(4)Net stock compensation activity includes 10,707 vested shares offset by 4,242 shares withheld for taxes valued at $0.3 and stock-based compensation of $6.5.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT)
| Common Share Capital · Treasury Share Capital | ||||||||
|---|---|---|---|---|---|---|---|---|
| Shares | Amount | Treasury Stock | Amount | Additional Paid in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total | |
| Balance at December 31, 2023 | 381,788,876 | $— | — | $— | $2,711.3 | $(691.9) | $(4.5) | $2,014.9 |
| Net income (loss) | — | — | — | — | — | (5.9) | — | (5.9) |
| Exercise of employee stock options | 1,109,113 | — | — | — | 14.4 | — | — | 14.4 |
| Stock-based compensation, net of withholding for tax(1) | 102,833 | — | — | — | 17.3 | — | — | 17.3 |
| Employee 401K match with Vertiv stock | 44,968 | — | — | — | 2.2 | — | — | 2.2 |
| Dividend | — | — | — | — | — | (9.3) | — | (9.3) |
| Repurchase of common stock | (9,076,444) | — | 9,076,444 | (605.9) | — | — | — | (605.9) |
| Other comprehensive income (loss), net of tax | — | — | — | — | — | — | (34.3) | (34.3) |
| Balance at March 31, 2024 | 373,969,346 | $— | 9,076,444 | $(605.9) | $2,745.2 | $(707.1) | $(38.8) | $1,393.4 |
| Net income (loss) | — | $— | — | $— | $— | $178.1 | $— | $178.1 |
| Exercise of employee stock options | 693,261 | — | — | — | 9.2 | — | — | 9.2 |
| Stock-based compensation, net of withholding for tax(2) | 412,459 | — | — | — | (10.7) | — | — | (10.7) |
| Employee 401K match with Vertiv stock | 38,061 | — | — | — | 3.2 | — | — | 3.2 |
| Dividend | — | — | — | — | — | (9.4) | — | (9.4) |
| Retirement of treasury stock | — | — | (9,076,444) | 605.9 | (605.9) | — | — | — |
| Other comprehensive income (loss), net of tax | — | — | — | — | — | — | (26.3) | (26.3) |
| Balance at June 30, 2024 | 375,113,127 | $— | — | $— | $2,141.0 | $(538.4) | $(65.1) | $1,537.5 |
| Net income (loss) | — | $— | — | $— | $— | $176.6 | $— | $176.6 |
| Exercise of employee stock options | 100,303 | — | — | — | 1.4 | — | — | 1.4 |
| Stock-based compensation, net of withholding for tax(3) | 10,299 | — | — | — | 7.0 | — | — | 7.0 |
| Employee 401K match with Vertiv stock | 26,024 | — | — | — | 2.4 | — | — | 2.4 |
| Dividend | — | — | — | — | — | (9.4) | — | (9.4) |
| Other comprehensive income (loss), net of tax | — | — | — | — | — | — | 98.2 | 98.2 |
| Balance at September 30, 2024 | 375,249,753 | $— | — | $— | $2,151.8 | $(371.2) | $33.1 | $1,813.7 |
(1)Net stock compensation activity includes 146,095 vested shares offset by 43,262 shares withheld for taxes valued at $3.0 and stock-based compensation of $9.2.
(2)Net stock compensation activity includes 606,060 vested shares offset by 193,601 shares withheld for taxes valued at $18.1 and stock-based compensation of $8.5.
(3)Net stock compensation activity includes 15,583 vested shares offset by 5,284 shares withheld for taxes valued at $0.4 and stock-based compensation of $8.1.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.