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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Millions
Total
Common Share Capital
Treasury Share Capital
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2022   377,368,837        
Beginning balance at Dec. 31, 2022 $ 1,441.9 $ 0.0   $ 2,630.7 $ (1,142.6) $ (46.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 50.3       50.3  
Exercise of employee stock options (in shares)   246,653        
Exercise of employee stock options 2.2     2.2    
Stock-based compensation, net of withholding for tax (in shares) [1]   14,730        
Stock-based compensation, net of withholding for tax [1] 5.4     5.4    
Employee 401K match with Vertiv stock (in shares)   135,245        
Employee 401K match with Vertiv stock 2.1     2.1    
Exercise of warrants (in shares) [2]   1,368,194        
Exercise of warrants [2] 21.6     21.6    
Other comprehensive income (loss), net of tax 27.3         27.3
Ending balance (in shares) at Mar. 31, 2023   379,133,659        
Ending balance at Mar. 31, 2023 1,550.8 $ 0.0   2,662.0 (1,092.3) (18.9)
Beginning balance (in shares) at Dec. 31, 2022   377,368,837        
Beginning balance at Dec. 31, 2022 1,441.9 $ 0.0   2,630.7 (1,142.6) (46.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 227.6          
Ending balance (in shares) at Sep. 30, 2023   381,349,156        
Ending balance at Sep. 30, 2023 1,713.9 $ 0.0   2,698.3 (915.0) (69.4)
Beginning balance (in shares) at Mar. 31, 2023   379,133,659        
Beginning balance at Mar. 31, 2023 1,550.8 $ 0.0   2,662.0 (1,092.3) (18.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 83.2       83.2  
Exercise of employee stock options (in shares)   649,884        
Exercise of employee stock options 7.8     7.8    
Stock-based compensation, net of withholding for tax (in shares) [3]   365,055        
Stock-based compensation, net of withholding for tax [3] 4.4     4.4    
Employee 401K match with Vertiv stock (in shares)   217,041        
Employee 401K match with Vertiv stock 2.8     2.8    
Other comprehensive income (loss), net of tax 9.1         9.1
Ending balance (in shares) at Jun. 30, 2023   380,365,639        
Ending balance at Jun. 30, 2023 1,658.1 $ 0.0   2,677.0 (1,009.1) (9.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 94.1       94.1  
Exercise of employee stock options (in shares)   892,030        
Exercise of employee stock options 12.9     12.9    
Stock-based compensation, net of withholding for tax (in shares) [4]   6,465        
Stock-based compensation, net of withholding for tax [4] 6.2     6.2    
Employee 401K match with Vertiv stock (in shares)   85,022        
Employee 401K match with Vertiv stock 2.2     2.2    
Other comprehensive income (loss), net of tax (59.6)         (59.6)
Ending balance (in shares) at Sep. 30, 2023   381,349,156        
Ending balance at Sep. 30, 2023 $ 1,713.9 $ 0.0   2,698.3 (915.0) (69.4)
Beginning balance (in shares) at Dec. 31, 2023 381,788,876 381,788,876 0      
Beginning balance at Dec. 31, 2023 $ 2,014.9 $ 0.0 $ 0.0 2,711.3 (691.9) (4.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) (5.9)       (5.9)  
Exercise of employee stock options (in shares)   1,109,113        
Exercise of employee stock options 14.4     14.4    
Stock-based compensation, net of withholding for tax (in shares) [5]   102,833        
Stock-based compensation, net of withholding for tax [5] 17.3     17.3    
Employee 401K match with Vertiv stock (in shares)   44,968        
Employee 401K match with Vertiv stock 2.2     2.2    
Dividend (9.3)       (9.3)  
Repurchase of common stock (in shares)   (9,076,444) (9,076,444)      
Repurchase of common stock (605.9)   $ (605.9)      
Other comprehensive income (loss), net of tax (34.3)         (34.3)
Ending balance (in shares) at Mar. 31, 2024   373,969,346 9,076,444      
Ending balance at Mar. 31, 2024 $ 1,393.4 $ 0.0 $ (605.9) 2,745.2 (707.1) (38.8)
Beginning balance (in shares) at Dec. 31, 2023 381,788,876 381,788,876 0      
Beginning balance at Dec. 31, 2023 $ 2,014.9 $ 0.0 $ 0.0 2,711.3 (691.9) (4.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) $ 348.8          
Ending balance (in shares) at Sep. 30, 2024 375,249,753 375,249,753 0      
Ending balance at Sep. 30, 2024 $ 1,813.7 $ 0.0 $ 0.0 2,151.8 (371.2) 33.1
Beginning balance (in shares) at Mar. 31, 2024   373,969,346 9,076,444      
Beginning balance at Mar. 31, 2024 1,393.4 $ 0.0 $ (605.9) 2,745.2 (707.1) (38.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 178.1       178.1  
Exercise of employee stock options (in shares)   693,261        
Exercise of employee stock options 9.2     9.2    
Stock-based compensation, net of withholding for tax (in shares) [6]   412,459        
Stock-based compensation, net of withholding for tax [6] (10.7)     (10.7)    
Employee 401K match with Vertiv stock (in shares)   38,061        
Employee 401K match with Vertiv stock 3.2     3.2    
Dividend (9.4)       (9.4)  
Retirement of treasury stock (in shares)     (9,076,444)      
Retirement of treasury stock 0.0   $ 605.9 (605.9)    
Other comprehensive income (loss), net of tax (26.3)         (26.3)
Ending balance (in shares) at Jun. 30, 2024   375,113,127 0      
Ending balance at Jun. 30, 2024 1,537.5 $ 0.0 $ 0.0 2,141.0 (538.4) (65.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 176.6       176.6  
Exercise of employee stock options (in shares)   100,303        
Exercise of employee stock options 1.4     1.4    
Stock-based compensation, net of withholding for tax (in shares) [7]   10,299        
Stock-based compensation, net of withholding for tax [7] 7.0     7.0    
Employee 401K match with Vertiv stock (in shares)   26,024        
Employee 401K match with Vertiv stock 2.4     2.4    
Dividend (9.4)       (9.4)  
Other comprehensive income (loss), net of tax $ 98.2         98.2
Ending balance (in shares) at Sep. 30, 2024 375,249,753 375,249,753 0      
Ending balance at Sep. 30, 2024 $ 1,813.7 $ 0.0 $ 0.0 $ 2,151.8 $ (371.2) $ 33.1
[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.
[5] 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.
[6] 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.
[7] 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.