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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Millions
Total
Common Share Capital
Common Share Capital
Treasury Share Capital
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2021     375,801,857 0      
Beginning balance at Dec. 31, 2021 $ 1,417.7   $ 0.0 $ 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-based compensation activity, net of withholdings for tax (in shares) [1]     563,597        
Stock-based compensation activity, net of withholdings for tax [1] 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 0      
Ending balance at Dec. 31, 2022 1,441.9   $ 0.0 $ 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)     2,122,710        
Exercise of employee stock options 27.4       27.4    
Stock-based compensation activity, net of withholdings for tax (in shares) [2]     420,170        
Stock-based compensation activity, net of withholdings for tax [2] 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) [3]     1,368,194        
Exercise of warrants [3] 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 0      
Ending balance at Dec. 31, 2023 $ 2,014.9   $ 0.0 $ 0.0 2,711.3 (691.9) (4.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) $ 495.8         495.8  
Exercise of employee stock options (in shares) 2,513,784   2,509,946        
Exercise of employee stock options $ 33.0       33.0    
Stock-based compensation activity, net of withholdings for tax (in shares) [4]     532,821        
Stock-based compensation activity, net of withholdings for tax [4] 22.1       22.1    
Employee 401K match with Vertiv stock (in shares)     136,254        
Employee 401K match with Vertiv stock 10.7       10.7    
Exercise of warrants (in shares) [5]     4,812,521        
Exercise of warrants [5] 644.2       644.2    
Dividend payment (42.2)         (42.2)  
Repurchase of common stock (in shares) [6]     (9,076,444) 9,076,444      
Repurchase of common stock(5) (599.9) [6] $ (599.9)   $ (605.9) [6] 6.0 [6]    
Retirement of common stock (in shares)       (9,076,444)      
Retirement of common stock 0.0     $ 605.9 (605.9)    
Other comprehensive income (loss), net of tax $ (144.3)           (144.3)
Ending balance (in shares) at Dec. 31, 2024 380,703,974   380,703,974 0      
Ending balance at Dec. 31, 2024 $ 2,434.3   $ 0.0 $ 0.0 $ 2,821.4 $ (238.3) $ (148.8)
[1] 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.
[2] 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.
[3] 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.
[4] Net stock compensation activity includes 778,510 of vested shares offset by 245,689 shares withheld for taxes valued at $21.9, and stock-based compensation of $34.6 and employee incentive compensation of $9.4 awarded in fully vested shares.
[5] On December 6, 2024, Cote SPAC I LLC elected to exercise 5,266,667 warrants on a cashless basis pursuant to the agreement governing the warrants, in exchange for which the Company issued 4,812,521 shares of Class A common stock.
[6] Repurchase of common stock activity includes common stock valued at $599.9 and a 1% excise tax accrual of $6.0. Accrual was subsequently reversed due to fair value of common stock issued in 2024 exceeding the value of common stock repurchased.