Vertiv Holdings Co
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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FY2024 · Filed Feb 18, 2025
VRT$194.22-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOW
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $495.8 | $460.2 | $76.6 |
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||
| Depreciation | 81.6 | 74.3 | 72.0 |
| Amortization | 195.4 | 196.7 | 230.4 |
| Deferred income taxes | (54.5) | (131.6) | (8.6) |
| Amortization of debt discount and issuance costs | 7.0 | 7.9 | 7.5 |
| Change in fair value of warrant liabilities | 449.2 | 157.9 | (90.9) |
| Stock-based compensation | 34.6 | 25.0 | 24.7 |
| Payment of contingent consideration | — | — | (8.7) |
| Gain on sale of property, plant and equipment | — | — | (3.7) |
| Changes in operating working capital | 114.1 | 66.7 | (449.2) |
| Other | (3.9) | 43.4 | (2.9) |
| Net cash provided by (used for) operating activities | 1,319.3 | 900.5 | (152.8) |
| Cash flows from investing activities: | |||
| Capital expenditures | (167.0) | (127.9) | (100.0) |
| Investments in capitalized software | (17.1) | (6.7) | (11.0) |
| Proceeds from disposition of property, plant and equipment | — | 12.4 | 3.9 |
| Acquisition of business | (17.6) | (28.8) | (5.0) |
| Proceeds from sale of business | — | 11.9 | — |
| Net cash provided by (used for) investing activities | (201.7) | (139.1) | (112.1) |
| Cash flows from financing activities: | |||
| Borrowings from ABL revolving credit facility and short-term borrowings | 270.0 | 224.9 | 790.8 |
| Repayments of ABL revolving credit facility and short-term borrowings | (270.0) | (459.9) | (555.8) |
| Repayment of long-term debt | (21.1) | (27.1) | (16.4) |
| Payment of debt issuance costs | — | — | (0.6) |
| Payment of tax receivable agreement | — | — | (100.0) |
| Payment of contingent consideration | — | — | (12.8) |
| Dividend payment | (42.2) | (9.5) | (3.8) |
| Repurchase of common shares | (599.9) | — | — |
| Exercise of employee stock options | 33.0 | 27.4 | 3.1 |
| Employee taxes paid from shares withheld | (21.9) | (3.3) | (4.3) |
| Net cash provided by (used for) financing activities | (652.1) | (247.5) | 100.2 |
| Effect of exchange rate changes on cash and cash equivalents | (21.9) | 1.5 | (9.2) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 443.6 | 515.4 | (173.9) |
| Beginning cash, cash equivalents and restricted cash | 788.6 | 273.2 | 447.1 |
| Ending cash, cash equivalents and restricted cash | $1,232.2 | $788.6 | $273.2 |
| Changes in operating working capital | |||
| Accounts receivable | $(280.3) | $(277.2) | $(368.0) |
| Inventories | (369.3) | (54.0) | (211.4) |
| Other current assets | (63.7) | 4.7 | (36.6) |
| Accounts payable | 343.1 | (17.7) | 132.8 |
| Deferred revenue | 434.5 | 274.2 | 67.6 |
| Accrued expenses and other liabilities | 7.0 | 91.5 | (22.0) |
| Income taxes | 42.8 | 45.2 | (11.6) |
| Total changes in operating working capital | $114.1 | $66.7 | $(449.2) |
| Supplemental Disclosures | |||
| Cash paid during the year for interest | $155.5 | $176.7 | $132.8 |
| Cash paid during the year for income tax, net | 272.5 | 153.0 | 104.6 |
| Property and equipment acquired during the year for capital lease obligations | 7.0 | 2.9 | 4.3 |
| Noncash Supplemental Disclosure | |||
| Seller provided financing for the disposition of property, plant and equipment | — | — | 12.2 |
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