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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 41.4 $ (264.3)
Adjustments to reconcile net income (loss) to net cash used for operating activities:    
Depreciation 35.2 28.5
Amortization of intangibles 70.5 72.0
Deferred income taxes (22.3) (5.9)
Amortization of debt discount and issuance costs 3.3 7.6
Loss on extinguishment of debt 0.4 174.0
Change in fair value of warrant liabilities 84.8 21.6
Capitalized software write-off 0.0 12.3
Changes in operating working capital (126.1) (168.6)
Stock based compensation 11.8 3.2
Changes in tax receivable agreement 1.6 16.2
Other 19.4 (18.3)
Net cash provided by (used for) operating activities 120.0 (121.7)
Cash flows from investing activities:    
Capital expenditures (30.4) (13.2)
Investments in capitalized software (5.4) (6.2)
Net cash used for investing activities (35.8) (19.4)
Cash flows from financing activities:    
Borrowings from ABL revolving credit facility 0.0 324.2
Repayments of ABL revolving credit facility 0.0 (199.1)
Proceeds from short-term borrowings 0.0 20.2
Borrowing on Term Loan, net of discount 0.0 2,189.0
Repayment of Prior Notes 0.0 (1,370.0)
Payment of redemption premiums 0.0 (75.0)
Payment of debt issuance costs 0.0 (11.2)
Proceeds from reverse recapitalization, net 0.0 1,832.5
Payment to Vertiv Stockholder 0.0 (341.6)
Proceeds from the exercise of warrants 107.5 0.0
Exercise of employee stock options 2.1 0.0
Employee taxes paid from shares withheld (7.0) 0.0
Net cash provided by financing activities 91.7 293.5
Effect of exchange rate changes on cash and cash equivalents (1.7) (6.2)
Increase (decrease) in cash, cash equivalents and restricted cash 174.2 146.2
Beginning cash, cash equivalents and restricted cash 542.6 233.7
Ending cash, cash equivalents and restricted cash 716.8 379.9
Changes in operating working capital    
Accounts receivable (28.4) 27.2
Inventories (107.3) (66.9)
Other current assets (8.1) (1.2)
Accounts payable 50.9 (21.1)
Accrued expenses and other liabilities (16.0) (116.0)
Income taxes (17.2) 9.4
Changes in operating working capital (126.1) (168.6)
Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively.    
Cash flows from financing activities:    
Repayments of Term Loan and Prior Term Loan (10.9) (5.5)
Term Loan due 2023    
Cash flows from financing activities:    
Repayments of Term Loan and Prior Term Loan $ 0.0 $ (2,070.0)