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Unaudited Condensed Consolidated Statements of Equity (Deficit) - USD ($)
$ in Millions
Total
Share Capital
Share Capital
Previously Reported
Share Capital
Restatement Adjustment
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2019   118,261,955 [1] 1,000,000 117,261,955      
Beginning balance at Dec. 31, 2019 [1] $ (704.8) $ 0.0     $ 277.7 $ (1,000.6) $ 18.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Tax Receivable Agreement (133.4)       (133.4)    
Net income (loss) (208.3)         (208.3)  
Stock issuance (in shares)   123,900,000          
Stock issuance 1,195.1       1,195.1    
Merger recapitalization (in shares) [2]   86,249,750          
Merger recapitalization (2) [2] 179.5       179.5    
Stock-based compensation 0.7       0.7    
Other comprehensive loss, net of tax (52.6)           (52.6)
Ending balance (in shares) at Mar. 31, 2020   328,411,705          
Ending balance at Mar. 31, 2020 $ 276.2 $ 0.0     1,519.6 (1,208.9) (34.5)
Beginning balance (in shares) at Dec. 31, 2020 342,024,612 342,024,612          
Beginning balance at Dec. 31, 2020 $ 512.1 $ 0.0     1,791.8 (1,331.2) 51.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) $ 31.7         31.7  
Exercise of employee stock options (in shares) 76,047            
Exercise of employee stock options $ 0.9       0.9    
Employee 401K match with Vertiv stock (in shares) 69,309            
Employee 401K match with Vertiv stock $ 1.3            
Exercise of warrants (in shares) [3]   9,346,822          
Exercise of warrants (3) [3] 176.0       176.0    
Stock-based compensation 5.6       5.6    
Other comprehensive loss, net of tax $ 1.1           1.1
Ending balance (in shares) at Mar. 31, 2021 351,516,790 351,516,790          
Ending balance at Mar. 31, 2021 $ 728.7 $ 0.0     $ 1,975.6 $ (1,299.5) $ 52.6
[1] The shares and earnings per share available to holders of the Company’s ordinary shares, prior to the business combination, have been recasted as shares reflecting the exchange ratio established in the business combination (1.0 Vertiv Holdings share to 118.261955 Vertiv Holdings Co shares).
[2] The merger recapitalization includes the fair value of $116.3 of Public Warrants and Private Placement Warrants as of February 7, 2020.
[3] The exercise of warrants includes $107.5 of cash received during the three months ended March 31, 2021 for the exercise of Public Warrants.