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Consolidated Statements of Cash Flow - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ (327.3) $ (140.8) $ (314.0)
Adjustments to reconcile net loss to net cash used for operating activities:      
Depreciation 60.3 57.1 60.4
Amortization 142.8 145.8 156.6
Deferred income taxes (1.4) (13.8) (40.3)
Amortization of debt discount and issuance costs 10.5 27.9 25.5
Gain on sale of business 0.0 0.0 (6.9)
Loss on extinguishment of debt 174.0 0.0 0.0
Change in fair value of warrant liabilities 143.7 0.0 0.0
Asset impairments 21.0 0.0 0.0
Stock-based compensation 13.0 0.0 0.0
Changes in tax receivable agreement 21.3 0.0 0.0
Changes in operating working capital (60.8) (36.4) (110.0)
Other 11.8 17.7 6.8
Net cash provided by (used for) operating activities 208.9 57.5 (221.9)
Cash flows from investing activities:      
Capital expenditures (44.4) (47.6) (64.6)
Investments in capitalized software (8.3) (22.7) (41.2)
Proceeds from disposition of property, plant and equipment 7.0 5.0 18.0
Acquisition of Business, net of cash acquired 0.0 0.0 (124.3)
Proceeds from sale of Business 0.0 0.0 4.4
Net cash provided by (used for) investing activities (45.7) (65.3) (207.7)
Cash flows from financing activities:      
Borrowings from ABL revolving credit facility 324.2 491.8 565.1
Repayments of ABL revolving credit facility (470.5) (591.2) (320.0)
Proceeds from short-term borrowings 22.0 0.0 0.0
Repayment of short-term borrowings (23.2) 0.0 0.0
Proceeds from the issuance of 10.00% Notes 0.0 114.2 0.0
Borrowing on Term Loan, net of discount 2,189.0 0.0 0.0
Repayment of Prior Notes (1,370.0) 0.0 0.0
Payment of redemption premiums (75.0) 0.0 0.0
Payment of debt issuance costs (11.2) 0.0 0.0
Proceeds from reverse recapitalization, net 1,832.5 0.0 0.0
Payment to Vertiv Stockholder (341.6) 0.0 0.0
Dividend Payment (3.3) 0.0 0.0
Proceeds from the exercise of warrants 156.5 0.0 0.0
Other financing (2.2) 0.0 0.0
Net cash provided by (used for) financing activities 140.7 14.8 245.1
Effect of exchange rate changes on cash and cash equivalents 5.0 1.4 11.6
Increase (decrease) in cash, cash equivalents and restricted cash 308.9 8.4 (172.9)
Beginning cash, cash equivalents and restricted cash 233.7 225.3 398.2
Ending cash, cash equivalents and restricted cash 542.6 233.7 225.3
Changes in operating working capital      
Accounts receivable (114.8) 39.8 (139.6)
Inventories (38.5) 85.5 (73.7)
Other current assets 7.8 (41.6) (66.5)
Accounts payable 78.2 (140.8) 101.9
Accrued expenses and other liabilities 13.3 34.8 50.2
Income taxes (6.8) (14.1) 17.7
Total changes in operating working capital 60.8 36.4 110.0
Supplemental Disclosures      
Cash paid during the year for interest 190.7 271.5 259.6
Cash paid during the year for income tax, net 64.7 48.7 58.0
Property and equipment acquired during the year for capital lease obligations 5.4 1.8 4.2
Term Loan Due 2027      
Cash flows from financing activities:      
Repayment of Term Loan and Prior Term Loan (16.5) 0.0 0.0
Term Loan Due 2023      
Cash flows from financing activities:      
Repayment of Term Loan and Prior Term Loan $ (2,070.0) $ 0.0 $ 0.0