Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

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.

Summarized information about the Company’s results of operations by reportable 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 & solutions includes AC and DC power management, thermal management, and modular hyperscale type data center sites.

•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 & 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 Greater China and Australia & New Zealand, South East Asia and India. 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.

Reportable Segments

Sales	Three months ended March 31, 2022		Three months ended March 31, 2021
Americas	$	549.0	$	505.9
Asia Pacific	353.8		377.6
Europe, Middle East & Africa	318.0		250.4
	1,220.8		1,133.9
Eliminations	(64.4)		(35.5)
Total	$	1,156.4	$	1,098.4

Intersegment sales (1)	Three months ended March 31, 2022		Three months ended March 31, 2021
Americas	$	13.9	$	4.4
Asia Pacific	21.0		20.2
Europe, Middle East & Africa	29.5		10.9
Total	$	64.4	$	35.5

(1)Intersegment selling prices approximate market prices.

Operating profit (loss)	Three months ended March 31, 2022		Three months ended March 31, 2021
Americas	$	57.9	$	126.4
Asia Pacific	41.5		53.1
Europe, Middle East & Africa	33.2		33.4
Total reportable segments	132.6		212.9
Foreign currency gain (loss)	1.3		6.9
Corporate and other	(121.4)		(108.2)
Total corporate, other and eliminations	(120.1)		(101.3)
Amortization of intangibles	(57.7)		(31.8)
Operating profit (loss)	$	(45.2)	$	79.8