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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Millions
Total
Share Capital
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2020   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) 119.6     119.6  
Exercise of employee stock options (in shares)   370,513      
Exercise of employee stock options 4.6   4.6    
Stock comp activity, net of withholdings for tax (in shares) [1]   620,570      
Stock comp activity, net of withholdings for tax [1] 15.8   15.8    
Employee 401K match with Vertiv stock (in shares)   357,344      
Employee 401K match with Vertiv stock 8.2   8.2    
Exercise of warrants (in shares) [2]   9,346,822      
Exercise of warrants [2] 176.0   176.0    
Stock issuance related to acquisition (in shares) [3]   23,081,996      
Stock issuance related to acquisition [3] 601.1   601.1    
Dividend payment (3.8)     (3.8)  
Other comprehensive income (loss), net of tax (15.9)       (15.9)
Ending balance (in shares) at Dec. 31, 2021   375,801,857      
Ending balance at Dec. 31, 2021 1,417.7 $ 0.0 2,597.5 (1,215.4) 35.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 76.6     76.6  
Exercise of employee stock options (in shares)   202,724      
Exercise of employee stock options 3.1   3.1    
Stock comp activity, net of withholdings for tax (in shares) [4]   563,597      
Stock comp activity, net of withholdings for tax [4] 20.4   20.4    
Employee 401K match with Vertiv stock (in shares)   800,659      
Employee 401K match with Vertiv stock 9.7   9.7    
Dividend payment (3.8)     (3.8)  
Other comprehensive income (loss), net of tax $ (81.8)       (81.8)
Ending balance (in shares) at Dec. 31, 2022 377,368,837 377,368,837      
Ending balance at Dec. 31, 2022 $ 1,441.9 $ 0.0 2,630.7 (1,142.6) (46.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) $ 460.2     460.2  
Exercise of employee stock options (in shares) 2,092,068 2,122,710      
Exercise of employee stock options $ 27.4   27.4    
Stock comp activity, net of withholdings for tax (in shares) [5]   420,170      
Stock comp activity, net of withholdings for tax [5] 21.7   21.7    
Employee 401K match with Vertiv stock (in shares)   508,965      
Employee 401K match with Vertiv stock 9.9   9.9    
Exercise of warrants (in shares) [6]   1,368,194      
Exercise of warrants [6] 21.6   21.6    
Dividend payment (9.5)     (9.5)  
Other comprehensive income (loss), net of tax $ 41.7       41.7
Ending balance (in shares) at Dec. 31, 2023 381,788,876 381,788,876      
Ending balance at Dec. 31, 2023 $ 2,014.9 $ 0.0 $ 2,711.3 $ (691.9) $ (4.5)
[1] Net stock compensation activity includes 943,164 vested shares offset by 322,594 shares withheld for taxes valued at $7.3 and stock-based compensation of $23.2.
[2] The exercise of warrants includes $107.5 of cash received for the exercise of Public Warrants.
[3] On November 1, 2021 the Company issued 23,081,996 shares valued at $601.1 for the acquisition of E&I.
[4] Net stock compensation activity includes 876,358 vested shares offset by 312,761 shares withheld for taxes valued at $4.3 and stock-based compensation of $24.7.
[5] Net stock compensation activity includes 635,663 vested shares offset by 215,493 shares withheld for taxes valued at $3.3 and stock-based compensation of $25.0.
[6] On February 24, 2023, GS Sponsor LLC elected to exercise 5,266,666 warrants on a cashless basis pursuant to the agreement governing the warrants, in exchange for which the Company issued 1,368,194 shares of Class A common stock.