Vertiv Holdings Co
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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.
FY2025 · Filed Feb 13, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
5: Goodwill and other intangibles
The change in the carrying value of goodwill by segment follows:
| Americas | Asia Pacific | Europe, Middle East & Africa | Total | |
|---|---|---|---|---|
| Balance, December 31, 2023 | $635.3 | $46.4 | $648.6 | $1,330.3 |
| Acquisition(1) | — | 8.7 | — | 8.7 |
| Foreign currency translation and other | (1.6) | (1.2) | (15.1) | (17.9) |
| Balance, December 31, 2024 | $633.7 | $53.9 | $633.5 | $1,321.1 |
| Acquisitions(2) | 654.8 | 0.7 | 10.5 | 666.0 |
| Foreign currency translation and other | 1.1 | 0.6 | 44.9 | 46.6 |
| Balance, December 31, 2025 | $1,289.6 | $55.2 | $688.9 | $2,033.7 |
(1) Represents the goodwill acquired through an insignificant acquisition during 2024.
(2) Represents the goodwill acquired through the acquisition of PurgeRite, Great Lakes, and other insignificant acquisitions during 2025.
The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:
| As of December 31, 2025 | Gross | Accumulated Amortization | Net |
|---|---|---|---|
| Customer relationships | $2,234.7 | $(992.9) | $1,241.8 |
| Developed technology | 557.0 | (355.1) | 201.9 |
| Capitalized software | 125.5 | (95.1) | 30.4 |
| Trademarks | 143.3 | (50.1) | 93.2 |
| Other | 78.3 | (46.1) | 32.2 |
| Total finite-lived identifiable intangible assets | $3,138.8 | $(1,539.3) | $1,599.5 |
| Indefinite-lived trademarks | 295.3 | — | 295.3 |
| Total intangible assets | $3,434.1 | $(1,539.3) | $1,894.8 |
| As of December 31, 2024 | Gross | Accumulated Amortization | Net |
| Customer relationships | $1,740.1 | $(829.6) | $910.5 |
| Developed technology | 492.3 | (302.9) | 189.4 |
| Capitalized software | 121.0 | (86.9) | 34.1 |
| Trademarks | 96.9 | (41.7) | 55.2 |
| Other | 43.7 | (36.9) | 6.8 |
| Total finite-lived identifiable intangible assets | $2,494.0 | $(1,298.0) | $1,196.0 |
| Indefinite-lived trademarks | 291.1 | — | 291.1 |
| Total intangible assets | $2,785.1 | $(1,298.0) | $1,487.1 |
Total intangible asset amortization expense for the years ended December 31, 2025, 2024 and 2023 was $211.5, $195.4, and $196.7, respectively.
Based on intangible asset balances as of December 31, 2025, expected amortization expense is as follows:
| 2026 | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| $277.9 | $218.5 | $206.1 | $154.7 | $127.3 |
Annual Goodwill Impairment Analysis
The Company performed a qualitative impairment test for all of its reporting units during the fourth quarter of 2025. Based on the results of our qualitative impairment assessment, we concluded that it is more likely than not that the fair value of each reporting unit exceeded their carrying value and, therefore, our goodwill wasnot impaired as of December 31, 2025.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.