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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Beginning in 2021, the primary income measure used for assessing segment performance and making operating decisions is operating profit (loss). Segment performance is assessed exclusive of Corporate and other costs, foreign currency gain (loss), and amortization of intangibles. Corporate and other costs primarily include headquarters management costs, stock-based compensation, other incentive compensation, global IT costs, change in warrant liabilities, asset impairments, and costs that support global product platform development and offering management.
Vertiv determines its reportable segments based on how operations are managed internally for the products and services sold to customers, including how the results are reviewed by the chief operating decision maker (CODM), which includes determining resource allocation methodologies used for reportable segments. During 2021, we reorganized our internal reporting and realigned our operating segment structure to how our CODM, our Chief Executive Officer, now allocates resources and makes decisions. The changes resulted in the identification of two new operating segments, 1) Greater China and 2) Australia & New Zealand, South East Asia and India (ASI) which previously were reported as our legacy Asia Pacific operating segment. Given the similarities of economic characteristics and other qualitative factors, we aggregate these operating segments, such that our reportable segments are unchanged.
In conjunction with the realignment, the Company concluded the new operating segments also comprised reporting units and the company tested goodwill for impairment for each reporting unit both immediately before and immediately after the business realignment. The Company allocated goodwill to the two new reporting units based on their relative fair value. The goodwill impairment tests under both the legacy and new reporting unit structures concluded that no impairment existed as of the date of the change.
The segment performance measure excludes corporate and other costs, as described herein. Intersegment selling prices approximate market prices. Summarized information about the Company’s results of operations by business segment and product and service offering follows:
Americas includes products and services sold for applications within the data center, communication networks and commercial/industrial markets in North America and Latin America. This segment’s principal product and service offerings include:
•Critical infrastructure and solutions includes AC and DC power management, thermal management, and integrated modular solutions.
•Integrated rack solutions includes racks, rack power, rack power distribution, rack thermal systems, and configurable integrated solutions; and hardware for managing I.T. equipment.
•Services and spares includes preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and digital critical infrastructure software.
Asia Pacific includes products and services sold for applications within the data center, communication networks and commercial/industrial markets throughout China, India and the rest of Asia. Products and services offered are similar to the Americas segment.
Europe, Middle East & Africa includes products and services sold for applications within the data center, communication networks and commercial/industrial markets in Europe, Middle East & Africa. Products and services offered are similar to the Americas segment.
Business Segments
Year Ended December 31,
Sales202120202019
Americas$2,206.4 $2,055.1 $2,251.4 
Asia Pacific1,693.6 1,431.4 1,378.0 
Europe, Middle East & Africa1,267.4 1,009.7 976.0 
5,167.4 4,496.2 4,605.4 
Eliminations(169.3)(125.6)(174.2)
Total$4,998.1 $4,370.6 $4,431.2 
Year Ended December 31,
Operating profit (loss) (1)
202120202019
Americas$441.2 $497.0 $450.3 
Asia Pacific253.4 197.1 175.6 
Europe, Middle East & Africa217.6 105.5 76.6 
Total reportable segments912.2 799.6 702.5 
Foreign currency gain (loss)(3.2)(26.0)1.5 
Corporate and other(504.8)(431.4)(368.7)
Total corporate, other and eliminations(508.0)(457.4)(367.2)
Amortization of intangibles(144.3)(128.7)(129.2)
Operating profit (loss)$259.9 $213.5 $206.1 
(1)Beginning in the first quarter of 2021, operating profit (loss) is the primary income measure used for assessing segment performance and making operating decisions. Comparative results for the year ended December 31, 2020 and 2019 have been presented in conformity with the updated format.
Total AssetsDecember 31, 2021December 31, 2020
Americas$2,706.2 $2,165.8 
Asia Pacific1,345.4 1,289.1 
Europe, Middle East & Africa2,568.7 1,070.0 
6,620.3 4,524.9 
Corporate and other 319.3 548.9 
Total$6,939.6 $5,073.8 
Year Ended December 31,
Intersegment sales202120202019
Americas$19.0 $14.5 $22.3 
Asia Pacific84.6 63.0 100.0 
Europe, Middle East & Africa65.7 48.1 51.9 
Total$169.3 $125.6 $174.2 
Year Ended December 31,
Depreciation and Amortization202120202019
Americas$114.7 $118.4 $122.2 
Asia Pacific41.0 35.5 35.4 
Europe, Middle East & Africa42.9 24.8 24.0 
Corporate and other28.4 24.4 21.3 
Total$227.0 $203.1 $202.9 
Year Ended December 31,
Capital Expenditures202120202019
Americas$28.7 $15.0 $23.5 
Asia Pacific20.5 13.8 11.3 
Europe, Middle East & Africa18.3 12.4 10.0 
Corporate and other5.9 3.2 2.8 
Total$73.4 $44.4 $47.6 
Year Ended December 31,
Sales by Destination
202120202019
United States and Canada$1,975.4 $1,858.1 $2,017.4 
Europe1,014.6 777.0 763.9 
Asia1,556.9 1,366.1 1,285.6 
Latin America264.0 180.6 213.0 
Middle East/Africa187.2 188.8 151.3 
Total$4,998.1 $4,370.6 $4,431.2 
Sales in the U.S. were $1,874.9, $1,762.4, and $1,892.4 for the years ended December 31, 2021, 2020, and 2019, respectively, while sales in China were $862.7, $778.5, and $669.2, respectively.