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Unaudited Condensed Consolidated Statements of Shareholders' 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] 1,000,000.0 117,261,955      
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] 179.5       179.5    
Stock-based compensation 0.7       0.7    
Other comprehensive income (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, 2019   118,261,955 [1] 1,000,000.0 117,261,955      
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]              
Net income (loss) (367.8)            
Ending balance (in shares) at Sep. 30, 2020   328,411,705          
Ending balance at Sep. 30, 2020 146.1 $ 0.0     1,525.6 (1,368.4) (11.1)
Beginning balance (in shares) at Dec. 31, 2019   118,261,955 [1] 1,000,000.0 117,261,955      
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)    
Ending balance (in shares) at Dec. 31, 2020 342,024,612 342,024,612          
Ending balance at Dec. 31, 2020 $ 512.1 $ 0.0     1,791.8 (1,331.2) 51.5
Beginning balance (in shares) at Mar. 31, 2020   328,411,705          
Beginning balance at Mar. 31, 2020 276.2 $ 0.0     1,519.6 (1,208.9) (34.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (56.0)         (56.0)  
Stock-based compensation 2.5       2.5    
Other merger adjustment (0.4)       (0.4)    
Other comprehensive income (loss), net of tax (9.3)           (9.3)
Ending balance (in shares) at Jun. 30, 2020   328,411,705          
Ending balance at Jun. 30, 2020 213.0 $ 0.0     1,521.7 (1,264.9) (43.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (103.5)         (103.5)  
Stock-based compensation 3.9       3.9    
Other merger adjustment 0.0            
Other comprehensive income (loss), net of tax 32.7           32.7
Ending balance (in shares) at Sep. 30, 2020   328,411,705          
Ending balance at Sep. 30, 2020 $ 146.1 $ 0.0     1,525.6 (1,368.4) (11.1)
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       1.3    
Exercise of warrants (in shares) [3]   9,346,822          
Exercise of warrants [3] 176.0       176.0    
Stock-based compensation 5.6       5.6    
Other comprehensive income (loss), net of tax 1.1           1.1
Ending balance (in shares) at Mar. 31, 2021   351,516,790          
Ending balance at Mar. 31, 2021 $ 728.7 $ 0.0     1,975.6 (1,299.5) 52.6
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) $ 97.6            
Ending balance (in shares) at Sep. 30, 2021 352,499,706 352,499,706          
Ending balance at Sep. 30, 2021 $ 785.7 $ 0.0     1,987.3 (1,233.6) 32.0
Beginning balance (in shares) at Mar. 31, 2021   351,516,790          
Beginning balance at Mar. 31, 2021 728.7 $ 0.0     1,975.6 (1,299.5) 52.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 9.7         9.7  
Exercise of employee stock options (in shares)   120,721          
Exercise of employee stock options 1.4       1.4    
Stock comp activity, net of withholdings for tax (in shares) [4]   586,139          
Stock comp activity, net of withholdings for tax [4] (0.8)       (0.8)    
Employee 401K match with Vertiv stock (in shares)   107,890          
Employee 401K match with Vertiv stock 2.3       2.3    
Other comprehensive income (loss), net of tax 2.4           2.4
Ending balance (in shares) at Jun. 30, 2021   352,331,540          
Ending balance at Jun. 30, 2021 743.7 $ 0.0     1,978.5 (1,289.8) 55.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 56.2         56.2  
Exercise of employee stock options (in shares)   51,122          
Exercise of employee stock options 0.8       0.8    
Stock comp activity, net of withholdings for tax (in shares) [5]   27,069          
Stock comp activity, net of withholdings for tax [5] 5.5       5.5    
Employee 401K match with Vertiv stock (in shares)   89,975          
Employee 401K match with Vertiv stock 2.5       2.5    
Other comprehensive income (loss), net of tax $ (23.0)           (23.0)
Ending balance (in shares) at Sep. 30, 2021 352,499,706 352,499,706          
Ending balance at Sep. 30, 2021 $ 785.7 $ 0.0     $ 1,987.3 $ (1,233.6) $ 32.0
[1] The shares and earnings per share available to holders of the Company’s capital stock, 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.
[4] Net stock compensation activity includes 906,197 vested shares offset by 320,058 shares withheld for taxes valued at $7.0 and stock-based compensation of $6.2.
[5] Net stock compensation activity includes 29,605 vested shares offset by 2,536 shares withheld for taxes valued at $0.2 and stock-based compensation of $5.7.