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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (268.9) $ (74.3)
Adjustments to reconcile net loss to net cash used for operating activities:    
Depreciation 14.2 14.2
Amortization 36.3 35.4
Deferred income taxes (3.6) (3.5)
Amortization of debt discount and issuance costs 5.9 7.5
Loss on extinguishment of debt 174.0 0.0
Changes in operating working capital (134.4) (11.9)
Other (18.2) (1.1)
Net cash used for operating activities (194.7) (33.7)
Cash flows from investing activities:    
Capital expenditures (6.7) (10.7)
Investments in capitalized software (1.8) (3.9)
Proceeds from disposition of property, plant and equipment 0.0 3.8
Net cash used for investing activities (8.5) (10.8)
Cash flows from financing activities:    
Borrowings from ABL revolving credit facility 324.2 113.4
Repayments of ABL revolving credit facility (193.1) (172.8)
Borrowing on Term Loan, net of discount 2,189.0 0.0
Repayment on Prior Term Loan (2,070.0) 0.0
Repayment of Prior Notes (1,370.0) 0.0
Payment of redemption premiums (75.0) 0.0
Payments of Debt Issuance Costs (11.2) 0.0
Proceeds from reverse recapitalization, net 1,827.0 0.0
Payment to Vertiv Stockholder (341.6) 0.0
Net cash provided by (used for) financing activities 279.3 (59.4)
Effect of exchange rate changes on cash and cash equivalents (6.4) 1.4
Increase (decrease) in cash, cash equivalents and restricted cash 69.7 (102.5)
Beginning cash, cash equivalents and restricted cash 233.7 225.3
Ending cash, cash equivalents and restricted cash (303.4) (122.8)
Changes in operating working capital    
Accounts receivables 68.2 56.3
Inventories (44.5) (3.1)
Other current assets 1.4 (28.2)
Accounts payable (43.4) (64.2)
Accrued expenses and other liabilities (120.3) 18.0
Income taxes $ 4.2 $ 9.3