Vertiv (VRT) 10-Q 2 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-38518
Entity Registrant Name	Vertiv Holdings Co
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-2376902
Entity Address, Address Line One	1050 Dearborn Dr
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43085
City Area Code	614
Local Phone Number	888-0246
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	VRT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		352,427,840
Entity Central Index Key	0001674101
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Earnings (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net sales
Net sales	$ 1,260.3	$ 1,005.7	$ 2,358.7	$ 1,903
Costs and expenses
Cost of sales	851	659.3	1,591.4	1,269.6
Operating expenses
Selling, general and administrative expenses	271.7	226.3	521.8	491.1
Amortization of intangibles	31.9	32.2	63.7	64.6
Restructuring costs	1.1	2.4	3.1	1.3
Foreign currency (gain) loss, net	4.1	2.8	(2.8)	4.6
Asset impairment	0	12.3	0	12.3
Other operating expense (income)	(1.7)	(0.2)	(0.5)	1.1
Operating profit (loss)	102.2	70.6	182	58.4
Interest expense, net	20	30.1	44.1	99
Loss on extinguishment of debt	0	0	0.4	174
Change in fair value of warrant liabilities	71.2	82.2	84.8	21.6
Income (loss) before income taxes	11	(41.7)	52.7	(236.2)
Income tax expense	1.3	14.3	11.3	28.1
Net income (loss)	$ 9.7	$ (56)	$ 41.4	$ (264.3)
Earnings (loss) per share:
Basic (USD per share)	$ 0.03	$ (0.17)	$ 0.12	$ (0.93)
Diluted (USD per share)	$ 0.03	$ (0.17)	$ 0.12	$ (0.93)
Weighted-average shares outstanding:
Basic (in shares)	352,199,184	328,411,705	350,908,612	284,534,285
Diluted (in shares)	356,652,811	328,411,705	354,883,869	284,534,285
Products
Net sales
Net sales	$ 976.5	$ 750.2	$ 1,820.5	$ 1,397.4
Costs and expenses
Cost of sales	686.2	515.3	1,279.6	978.5
Services
Net sales
Net sales	283.8	255.5	538.2	505.6
Costs and expenses
Cost of sales	$ 164.8	$ 144	$ 311.8	$ 291.1

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 9.7	$ (56)	$ 41.4	$ (264.3)
Other comprehensive income (loss), net of tax:
Foreign currency translation	20.2	11.9	(15.9)	(42.4)
Interest rate swaps	(8.6)	(11.5)	25.3	(35.5)
Tax receivable agreement	(9.4)	(9.7)	(5.3)	16.2
Pension	0.2	0	(0.6)	(0.2)
Other comprehensive income (loss), net of tax	2.4	(9.3)	3.5	(61.9)
Comprehensive income (loss)	$ 12.1	$ (65.3)	$ 44.9	$ (326.2)

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 708.8	$ 534.6
Accounts receivable, less allowances of $21.9 and $22.3, respectively	1,374	1,354.4
Inventories	551.4	446.6
Other current assets	215.2	183.2
Total current assets	2,849.4	2,518.8
Property, plant and equipment, net	409.2	427.6
Other assets:
Goodwill	603.1	607.2
Other intangible assets, net	1,235.1	1,302.5
Deferred income taxes	16.5	20.9
Other	218.7	196.8
Total other assets	2,073.4	2,127.4
Total assets	5,332	5,073.8
Current liabilities:
Current portion of long-term debt	21.8	22
Current portion of warrant liabilities	0	68.5
Accounts payable	766.4	730.5
Accrued expenses and other liabilities	897.2	901.8
Income taxes	25.4	18.8
Total current liabilities	1,710.8	1,741.6
Long-term debt, net	2,122.8	2,130.5
Deferred income taxes	89.9	116.5
Warrant liabilities	172.5	87.7
Other long-term liabilities	492.3	485.4
Total liabilities	4,588.3	4,561.7
Equity
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.0001 par value, 700,000,000 shares authorized, 352,331,540 and 342,024,612 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	0	0
Additional paid-in capital	1,978.5	1,791.8
Accumulated deficit	(1,289.8)	(1,331.2)
Accumulated other comprehensive (loss) income	55	51.5
Total equity	743.7	512.1
Total liabilities and equity	$ 5,332	$ 5,073.8

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 21.9	$ 22.3
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	700,000,000	700,000,000
Common stock, shares issued (in shares)	352,331,540	342,024,612
Common stock, shares outstanding (in shares)	352,331,540	342,024,612

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 41.4	$ (264.3)
Adjustments to reconcile net income (loss) to net cash used for operating activities:
Depreciation	35.2	28.5
Amortization of intangibles	70.5	72
Deferred income taxes	(22.3)	(5.9)
Amortization of debt discount and issuance costs	3.3	7.6
Loss on extinguishment of debt	0.4	174
Change in fair value of warrant liabilities	84.8	21.6
Capitalized software write-off	0	12.3
Changes in operating working capital	(126.1)	(168.6)
Stock based compensation	11.8	3.2
Changes in tax receivable agreement	1.6	16.2
Other	19.4	(18.3)
Net cash provided by (used for) operating activities	120	(121.7)
Cash flows from investing activities:
Capital expenditures	(30.4)	(13.2)
Investments in capitalized software	(5.4)	(6.2)
Net cash used for investing activities	(35.8)	(19.4)
Cash flows from financing activities:
Borrowings from ABL revolving credit facility	0	324.2
Repayments of ABL revolving credit facility	0	(199.1)
Proceeds from short-term borrowings	0	20.2
Borrowing on Term Loan, net of discount	0	2,189
Repayment of Prior Notes	0	(1,370)
Payment of redemption premiums	0	(75)
Payment of debt issuance costs	0	(11.2)
Proceeds from reverse recapitalization, net	0	1,832.5
Payment to Vertiv Stockholder	0	(341.6)
Proceeds from the exercise of warrants	107.5	0
Exercise of employee stock options	2.1	0
Employee taxes paid from shares withheld	(7)	0
Net cash provided by financing activities	91.7	293.5
Effect of exchange rate changes on cash and cash equivalents	(1.7)	(6.2)
Increase (decrease) in cash, cash equivalents and restricted cash	174.2	146.2
Beginning cash, cash equivalents and restricted cash	542.6	233.7
Ending cash, cash equivalents and restricted cash	716.8	379.9
Changes in operating working capital
Accounts receivable	(28.4)	27.2
Inventories	(107.3)	(66.9)
Other current assets	(8.1)	(1.2)
Accounts payable	50.9	(21.1)
Accrued expenses and other liabilities	(16)	(116)
Income taxes	(17.2)	9.4
Changes in operating working capital	(126.1)	(168.6)
Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively.
Cash flows from financing activities:
Repayments of Term Loan and Prior Term Loan	(10.9)	(5.5)
Term Loan due 2023
Cash flows from financing activities:
Repayments of Term Loan and Prior Term Loan	$ 0	$ (2,070)

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Equity (Deficit) - USD ($) $ in Millions		Total	Share Capital		Share CapitalPreviously Reported	Share CapitalRestatement 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	117,261,955
Beginning balance at Dec. 31, 2019	[1]	$ (704.8)	$ 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				1,519.6		(1,208.9)	(34.5)
Beginning balance (in shares) at Dec. 31, 2019			118,261,955	[1]	1,000,000	117,261,955
Beginning balance at Dec. 31, 2019	[1]	(704.8)	$ 0				277.7		(1,000.6)	18.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(264.3)
Ending balance (in shares) at Jun. 30, 2020			328,411,705
Ending balance at Jun. 30, 2020		213	$ 0				1,521.7		(1,264.9)	(43.8)
Beginning balance (in shares) at Dec. 31, 2019			118,261,955	[1]	1,000,000	117,261,955
Beginning balance at Dec. 31, 2019	[1]	$ (704.8)	$ 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				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				1,519.6		(1,208.9)	(34.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		(56)							(56)
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				1,521.7		(1,264.9)	(43.8)
Beginning balance (in shares) at Dec. 31, 2020		342,024,612	342,024,612
Beginning balance at Dec. 31, 2020		$ 512.1	$ 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
Exercise of warrants (in shares)	[3]		9,346,822
Exercise of warrants	[3]	176					176
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				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				1,791.8		(1,331.2)	51.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		$ 41.4
Ending balance (in shares) at Jun. 30, 2021		352,331,540	352,331,540
Ending balance at Jun. 30, 2021		$ 743.7	$ 0				1,978.5		(1,289.8)	55
Beginning balance (in shares) at Mar. 31, 2021			351,516,790
Beginning balance at Mar. 31, 2021		728.7	$ 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		$ (0.8)					(0.8)	[4]
Employee 401K match with Vertiv stock (in shares)		107,890
Employee 401K match with Vertiv stock		$ 2.3
Other comprehensive income (loss), net of tax		$ 2.4								2.4
Ending balance (in shares) at Jun. 30, 2021		352,331,540	352,331,540
Ending balance at Jun. 30, 2021		$ 743.7	$ 0				$ 1,978.5		$ (1,289.8)	$ 55
[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 valued at $6.2 offset by 320,058 shares withheld for taxes valued at $7.0.

Unaudited Condensed Consolida_7

Unaudited Condensed Consolidated Statements of Equity (Deficit) (Parenthetical) $ in Millions	Feb. 07, 2020USD ($)	Jun. 30, 2021USD ($)shares	Mar. 31, 2021USD ($)shares
Common stock, shares outstanding (in shares) | shares		352,331,540
Change in fair value of warrant liabilities		$ 71.2
Vested (in shares) | shares		906,197
Shares withheld for tax obligation (in shares) | shares		320,058
Decrease for tax withholding obligation		$ 7
Share Capital
Common stock, shares outstanding (in shares) | shares		352,331,540	351,516,790
Additional Paid in Capital
Vested		$ 6.2
Revision of Prior Period, Error Correction, Adjustment
Change in fair value of warrant liabilities	$ 116.3
Proceeds from the exercise of warrants			$ 107.5

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	DESCRIPTION OF BUSINESSVertiv Holdings Co ("Holdings Co", and together with its majority-owned subsidiaries, “Vertiv”, "we", "our", or "the Company"), formerly known as GS Acquisition Holdings Corp ("GSAH"), provides mission-critical infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. Vertiv’s offerings include power conditioning and uninterruptible power systems, thermal management, integrated data center control devices, software, monitoring, and service. Vertiv manages and reports results of operations for three reportable segments: Americas; Asia Pacific; and Europe, Middle East & Africa.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the United States of America and the rules and regulations of the Securities and Exchange Commission ("SEC") and include the accounts of the Company and its subsidiaries in which the Company has a controlling interest. These condensed consolidated interim financial statements do not include all of the information and footnotes required for complete financial statements. In management’s opinion, these financial statements reflect all adjustments of a normal, recurring nature necessary for a fair presentation of the results for the interim periods presented. The presentation of certain prior period amounts includes the reclassification of intangible amortization expense, restructuring costs and net foreign currency (gain) loss into separate components within operating expenses to conform to the current period presentation. In addition certain prior period amounts have been reclassed to confirm with current year presentation. The preparation of financial statements in conformity with GAAP in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates. On an ongoing basis, management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates. Results for these interim periods are not necessarily indicative of results to be expected for the full year due to, among other reasons, the continued uncertainty of general economic conditions due to the COVID-19 pandemic that has impacted, and may continue to impact, our sales channels, supply chain, manufacturing operations, workforce, or other key aspects of our operations. The notes included herein should be read in conjunction with the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K/A filed with the SEC on April 30, 2021 (the "2020 Form 10-K/A").

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE The Company recognizes revenue from the sale of manufactured products and services when control of promised goods or services are transferred to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Disaggregation of Revenues Beginning in the second quarter of 2020, sales were moved within product and service offering categories to reflect a strategic realignment within the Company's matrix organizational structure. Comparative results for the three and six months ended June 30, 2020 have been adjusted to reflect this modification. Additionally, product and service offering category names were revised as follows: Services & software solutions changed to Service & spares, and I.T. edge & infrastructure changed to Integrated rack solutions. There was no change in the description of the Critical infrastructure & solutions offering. The following table disaggregates our revenue by business segment, product and service offering and timing of transfer of control: Three Months Ended June 30, 2021 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: Critical infrastructure & solutions $ 305.3 $ 239.8 $ 181.7 $ 726.8 Services & spares 179.6 106.3 77.3 363.2 Integrated rack solutions 80.0 51.9 38.4 170.3 Total $ 564.9 $ 398.0 $ 297.4 $ 1,260.3 Timing of revenue recognition: Products and services transferred at a point in time $ 403.1 $ 315.8 $ 248.3 $ 967.2 Products and services transferred over time 161.8 82.2 49.1 293.1 Total $ 564.9 $ 398.0 $ 297.4 $ 1,260.3 Three Months Ended June 30, 2020 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: (1) Critical infrastructure & solutions $ 251.1 $ 196.8 $ 99.4 $ 547.3 Services & spares 161.1 86.1 64.7 311.9 Integrated rack solutions 72.5 39.9 34.1 146.5 Total $ 484.7 $ 322.8 $ 198.2 $ 1,005.7 Timing of revenue recognition: Products and services transferred at a point in time $ 332.4 $ 256.8 $ 153.4 $ 742.6 Products and services transferred over time 152.3 66.0 44.8 263.1 Total $ 484.7 $ 322.8 $ 198.2 $ 1,005.7 (1) Comparative results for Critical infrastructure & solutions, Services & spares and Integrated rack solutions for the three months ended June 30, 2020 have been adjusted by $4.9, $(8.7), and $3.8, respectively, to reflect the strategic realignment described above. Six Months Ended June 30, 2021 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: Critical infrastructure & solutions $ 584.8 $ 455.8 $ 314.1 $ 1,354.7 Services & spares 333.7 201.8 149.4 684.9 Integrated rack solutions 147.9 97.8 73.4 319.1 Total $ 1,066.4 $ 755.4 $ 536.9 $ 2,358.7 Timing of revenue recognition: Products and services transferred at a point in time $ 763.6 $ 597.4 $ 443.3 $ 1,804.3 Products and services transferred over time 302.8 158.0 93.6 554.4 Total $ 1,066.4 $ 755.4 $ 536.9 $ 2,358.7 Six Months Ended June 30, 2020 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: (1) Critical infrastructure & solutions $ 491.2 $ 310.8 $ 204.7 $ 1,006.7 Services & spares 322.7 164.9 129.9 617.5 Integrated rack solutions 137.5 71.0 70.3 278.8 Total $ 951.4 $ 546.7 $ 404.9 $ 1,903.0 Timing of revenue recognition: Products and services transferred at a point in time $ 645.6 $ 417.7 $ 319.2 $ 1,382.5 Products and services transferred over time 305.8 129.0 85.7 520.5 Total $ 951.4 $ 546.7 $ 404.9 $ 1,903.0 (1) Comparative results for Critical infrastructure & solutions, Services & spares and Integrated rack solutions for the six months ended June 30, 2020 have been adjusted by $7.0, $(11.4), and $4.4, respectively, to reflect the strategic realignment described above. The opening and closing balances of our current and long-term contract assets and current and long-term deferred revenue are as follows: Balances at June 30, 2021 Balances at December 31, 2020 Deferred revenue - current (1) $ 231.1 $ 199.6 Deferred revenue - noncurrent (2) 42.3 38.8 Other contract liabilities - current (1) 50.5 36.1 (1) Current deferred revenue and contract liabilities are included within accrued expenses and other liabilities. (2) Noncurrent deferred revenue is recorded within other long-term liabilities.

Restructuring Costs

Restructuring Costs	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring Costs	RESTRUCTURING COSTS Restructuring costs include expenses associated with the Company's efforts to continually improve operational efficiency and reposition its assets to remain competitive on a worldwide basis. Plant closing and other costs include costs of moving fixed assets, employee training, relocation, and facility costs. Restructuring costs by business segment are as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Americas $ 1.4 $ 0.7 $ 2.1 $ 1.0 Asia Pacific 3.2 — 3.4 0.2 Europe, Middle East & Africa (3.8) 1.6 (2.7) 0.8 Corporate 0.3 0.1 0.3 (0.7) Total $ 1.1 $ 2.4 $ 3.1 $ 1.3 The change in the liability for the restructuring of operations during the six months ended June 30, 2021 are as follows: December 31, 2020 Expense Paid/Utilized June 30, 2021 Severance and benefits $ 68.9 $ (0.4) $ (15.8) $ 52.7 Plant closing and other 0.4 3.5 (3.6) 0.3 Total $ 69.3 $ 3.1 $ (19.4) $ 53.0 The change in the liability for the restructuring of operations during the six months ended June 30, 2020 are as follows: December 31, 2019 Expense Paid/Utilized June 30, 2020 Severance and benefits $ 21.6 $ 0.6 $ (12.7) $ 9.5 Plant closing and other 0.6 0.7 (0.8) 0.5 Total $ 22.2 $ 1.3 $ (13.5) $ 10.0

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	DEBT Long-term debt, net, consists of the following as of June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. $ 2,172.6 $ 2,183.5 Unamortized discount and issuance costs (28.0) (31.0) 2,144.6 2,152.5 Less: Current Portion (21.8) (22.0) Total long-term debt, net of current portion $ 2,122.8 $ 2,130.5 Contractual maturities of the Company’s debt obligations as of June 30, 2021 are shown below: Term Loan Remainder of 2021 $ 10.9 2022 21.8 2023 21.8 2024 21.8 2025 21.8 2026 21.8 Thereafter 2,052.7 Total $ 2,172.6 Amendment to the Term Loan due 2027 As previously disclosed, on March 10, 2021, Vertiv Group Corporation, a Delaware corporation and an indirect wholly owned subsidiary of the Company ("Vertiv Group" or the "Borrower"), Vertiv Intermediate Holding II Corporation, a Delaware corporation and the direct parent of Vertiv Group ("Holdings"), and certain direct and indirect subsidiaries of the Borrower, as guarantors, entered into an Amendment No. 1 to Term Loan Credit Agreement (the "Term Loan Amendment" and, the Original Term Loan Credit Agreement as amended by the Term Loan Amendment, the "Credit Agreement") with Citibank, N.A., as administrative agent (in such capacity, the “Term Agent”) and various financial institutions from time to time party thereto ("Term Lenders"), which Term Loan Amendment made certain modifications to the Term Loan Credit Agreement entered into by Borrower and the other parties on March 2, 2020 (the "Original Term Loan Credit Agreement"), including reducing the interest rate margins. Pursuant to the Term Loan Amendment, among other modifications, the interest rate margin for the Borrower’s outstanding term loans under the Credit Agreement was reduced by 0.25%, to 2.75% in respect of term loans bearing interest based on the LIBOR rate and to 1.75% in respect of term loans bearing interest based on a base rate defined in the Credit Agreement. The Company recognized a "loss on the extinguishment of debt of $0.4 related to the Amendment for the six months ended June 30, 2021. The maturity date for such term loans remains March 2, 2027, and all other material provisions of the Credit Agreement remain materially unchanged. ABL Revolving Credit Facility At June 30, 2021, Vertiv Group as the Borrower and certain subsidiaries of the Borrower as co-borrowers (the "Co-Borrowers") had $434.9 of availability under the Asset Based Revolving Credit Facility (the "ABL Revolving Credit Facility") (subject to customary conditions, and subject to separate sublimits for letters of credit, swingline borrowings and borrowings made to certain non-U.S. Co-Borrowers), net of letters of credit outstanding in the aggregate principal amount of $20.1, and taking into account the borrowing base limitations set forth in the ABL Revolving Credit Facility. At June 30, 2021, there was no borrowing balance on the ABL Revolving Credit Facility.

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	LEASESThe Company leases office space, warehouses, vehicles, and equipment. Leases have remaining lease terms of 1 year to 20 years, some of which have renewal and termination options. Termination options are exercisable at the Company's option. Terms and conditions to extend or terminate are recognized as part of the right-of-use assets and lease liabilities where prescribed by the guidance. The majority of our leases are operating leases. Finance leases, which are recorded in "Property, Plant, and Equipment", are immaterial to our condensed consolidated financial statements. Operating lease expenses are recorded in "Cost of sales" and "Selling, general and administrative expenses" on the Unaudited Condensed Consolidated Statements of Earnings (Loss). Refer to the below table for a summary of these lease expenses: Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Operating lease cost $ 14.9 $ 12.3 $ 28.6 $ 25.2 Short-term and variable lease cost 5.3 5.6 10.5 13.1 Total lease cost $ 20.2 $ 17.9 $ 39.1 $ 38.3 Supplemental cash flow information related to operating leases is as follows: Six months ended June 30, 2021 Six months ended June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - Payments on operating leases $ 27.9 $ 25.2 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 45.4 $ 24.6 Supplemental balance sheet information related to operating leases is as follows: Financial statement line item June 30, 2021 December 31, 2020 Operating lease right-of-use assets Other assets $ 163.9 $ 145.8 Operating lease liabilities Accrued expenses and other liabilities 43.7 42.3 Operating lease liabilities Other long-term liabilities 124.4 107.3 Total lease liabilities $ 168.1 $ 149.6 Weighted average remaining lease terms and discount rates for operating leases are as follows: June 30, 2021 December 31, 2020 Weighted Average Remaining Lease Term 5.7 years 4.5 years Weighted Average Discount Rate 5.5 % 5.8 % Maturities of lease liabilities are as follows: June 30, 2021 December 31, 2020 Operating Leases 2021 $ 27.4 $ 51.0 2022 47.6 41.4 2023 39.7 33.4 2024 27.1 20.9 2025 16.1 10.4 Thereafter 41.8 17.2 Total Lease Payments 199.7 174.3 Less: Imputed Interest (31.6) (24.7) Present value of lease liabilities $ 168.1 $ 149.6

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company's effective tax rate was 11.8%, 21.4%, (34.3)% and (11.9)% for the three and six months ended June 30, 2021 and 2020, respectively. The effective rate in the current three and six month periods are influenced by the mix of income between our U.S. and non-U.S. operations, net of changes in valuation allowances, and reflect the negative impact of non-deductible changes in fair value of the warrant liabilities, as well as a discrete tax adjustment related to legislative changes enacted in the quarter. This negative impact is partially offset by the benefit of certain internal reorganizations and tax elections outside the U.S. The effective rates for the comparative three and six month periods were primarily influenced by the mix of income between our U.S. and non-U.S. operations, net of changes in valuation allowances. The prior periods also reflect a discrete tax benefit related to a change in our indefinite reinvestment liability caused by legislative changes enacted during the periods and movement in foreign currencies. The Company has provided for U.S. federal income taxes and foreign withholding taxes on all temporary differences attributed to basis differences in foreign subsidiaries that are not considered indefinitely reinvested. As of June 30, 2021, the Company has certain earnings of certain foreign affiliates that continue to be indefinitely reinvested, but it was not practicable to determine the impact.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Services Agreement The Company received certain corporate and advisory services from Platinum Equity Advisors, LLC ("Advisors"), and affiliates of Advisors. These services were provided pursuant to a corporate advisory services agreement ("the "CASA") between Advisors and the Company. During the three months ended March 31, 2020, the Company recorded $0.5 in charges related to the CASA. This agreement was terminated on February 7, 2020. During the three months ended March 31, 2020, the Company recorded $25.0 in charges relating to services performed in connection with the business combination. These charges were recorded as a reduction of the cash acquired from GSAH within additional paid-in capital. During the three months ended March 31, 2020, the Company recorded $5.5 of cash related to a true-up of merger consideration in connection with the business combination. Transactions with Affiliates of Advisors The Company also purchased and sold goods in the ordinary course of business with affiliates of Advisors. For the three and six months ended June 30, 2021 and 2020 purchases were $19.1, $33.7, $12.9 and $24.4, respectively. Accounts payable from affiliates of Advisors were insignificant as of June 30, 2021 and December 31, 2020. Tax Receivable Agreement See Note 10 — Financial Instruments and Risk Management for additional information.

Other Financial Information

Other Financial Information	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Financial Information	OTHER FINANCIAL INFORMATION June 30, 2021 December 31, 2020 Reconciliation of cash, cash equivalents, and restricted cash Cash and cash equivalents $ 708.8 $ 534.6 Restricted cash included in other current assets 8.0 8.0 Total cash, cash equivalents, and restricted cash $ 716.8 $ 542.6 June 30, 2021 December 31, 2020 Inventories Finished products $ 222.9 $ 201.0 Raw materials 177.2 155.7 Work in process 151.3 89.9 Total inventories $ 551.4 $ 446.6 June 30, 2021 December 31, 2020 Property, plant and equipment, net Machinery and equipment $ 341.3 $ 322.4 Buildings 255.0 255.5 Land 46.9 47.4 Construction in progress 16.7 23.1 Property, plant and equipment, at cost 659.9 648.4 Less: Accumulated depreciation (250.7) (220.8) Property, plant and equipment, net $ 409.2 $ 427.6 June 30, 2021 December 31, 2020 Accrued expenses and other liabilities Deferred revenue $ 231.1 $ 199.6 Accrued payroll and other employee compensation 119.1 138.5 Litigation reserve (see note 14) 96.2 96.6 Contract liabilities (see note 3) 50.5 36.1 Operating lease liabilities 43.7 42.3 Product warranty 35.9 36.5 Restructuring (see note 4) 53.0 69.3 Other 267.7 282.9 Total $ 897.2 $ 901.8 2021 2020 Change in product warranty accrual Beginning balance, January 1 $ 36.5 $ 43.3 Provision charge to expense 11.3 13.2 Paid/utilized (11.9) (19.6) Ending balance, June 30, $ 35.9 $ 36.9

Financial Instruments and Risk

Financial Instruments and Risk Management	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Financial Instruments and Risk Management	FINANCIAL INSTRUMENTS AND RISK MANAGEMENT In accordance with ASC 820, the Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. Observable inputs are from sources independent of the Company. Unobservable inputs reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. These tiers include the following: Level 1 — inputs include observable unadjusted quoted prices in active markets for identical assets or liabilities Level 2 — inputs include other than quoted prices in active markets that are either directly or indirectly observable Level 3 — inputs include unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions In determining fair value, the Company uses various valuation techniques and prioritizes the use of observable inputs. The availability of observable inputs varies from instrument to instrument and depends on a variety of factors including the type of instrument, whether the instrument is actively traded and other characteristics particular to the instrument. For many financial instruments, pricing inputs are readily observable in the market, the valuation methodology used is widely accepted by market participants and the valuation does not require significant management judgment. For other financial instruments, pricing inputs are less observable in the marketplace and may require management judgment. Recurring fair value measurements We elected to apply fair value option accounting to the Tax Receivable Agreement. A summary of the Company's financial instruments recognized at fair value, and the fair value measurements used, follows: Balance Sheet Location Total Quoted prices in active markets for identical assets (Level 1) Other observable inputs (Level 2) Unobservable inputs (Level 3) June 30, 2021 Assets: Interest rate swaps Other noncurrent assets $ 2.7 $ — $ 2.7 $ — Total assets $ 2.7 $ — $ 2.7 $ — Liabilities: Interest rate swaps Accrued expenses and other liabilities $ 10.2 $ — $ 10.2 $ — Tax Receivable Agreement Other long-term liabilities 162.5 — — 162.5 Private warrants Warrant liabilities 172.5 — 172.5 — Total liabilities $ 345.2 $ — $ 182.7 $ 162.5 Balance Sheet Location Total Quoted prices in active markets for identical assets (Level 1) Other observable inputs (Level 2) Unobservable inputs (Level 3) December 31, 2020 Liabilities: Tax Receivable Agreement Other long-term liabilities $ 155.6 $ — $ — $ 155.6 Interest rate swaps Accrued expenses and other liabilities 10.3 — 10.3 — Interest rate swaps Other long-term liabilities 22.5 — 22.5 — Public warrants Current portion of warrant liabilities 68.5 68.5 — — Private warrants Warrant liabilities 87.7 — 87.7 — Total liabilities $ 344.6 $ 68.5 $ 120.5 $ 155.6 Tax Receivable Agreement — The Company has estimated total payments of approximately $191.5 on an undiscounted basis. The initial fair value of the estimated liability resulting from the business combination of $133.4 was included as an adjustment to Additional paid in capital. Subsequent measurements are recorded in "Interest expense, net" in the Unaudited Condensed Consolidated Statements of Earnings (Loss) and "Accumulated other comprehensive income" in the Unaudited Condensed Consolidated Balance Sheets, as appropriate based on the passage of time, change in risk-free rate and implied credit spread. Cash flows of the Tax Receivable Agreement are discounted at an appropriate rate for the applicable duration of the instrument adjusted for our own credit spread. The fair value movement on the tax receivable agreement attributable to our own credit risk spread is recorded in "Accumulated other comprehensive income" in the Unaudited Condensed Consolidated Balance Sheets. These estimates and assumptions are subject to change, which may materially affect the measurement of the liability. We have recorded $(0.1), $1.6, $7.1 and $16.2 of accretion expense in "Interest expense, net" for the three and six months ended June 30, 2021 and 2020, respectively, in the Unaudited Condensed Consolidated Statement of Earnings (Loss). An unrealized gain (loss) of $(9.4), $(5.3), $(9.7) and $16.2 was recorded in "Accumulated other comprehensive income" in the Unaudited Condensed Consolidated Balance Sheets, related to the change in fair value of the tax receivable liability for the three and six months ended June 30, 2021 and 2020, respectively. The value of the Tax Receivable Agreement is determined using Level 3 inputs. The measurement is calculated using unobservable inputs based on the Company’s own assumptions including the timing and amount of future taxable income and realizability of tax attributes. When valuing the tax receivable liability at June 30, 2021, we utilized a discount rate of 2.9%. The discount rate was determined based on the risk-free rate and Vertiv's implied credit spread. A one percentage point change in the discount rate would result in a change in value of approximately $11.0 at June 30, 2021. Significant changes in unobservable inputs could result in material changes to the tax receivable liability. Details of the changes in value for the Tax Receivable Agreement are as follows: 2021 2020 Beginning liability balance, January 1 $ 155.6 $ — Tax receivable agreement, initially recorded — 133.4 Change in fair value 6.9 (0.1) Ending liability balance, June 30, $ 162.5 $ 133.3 Interest rate swaps — From time to time the Company may enter into derivative financial instruments designed to hedge the variability in interest expense on floating rate debt. Derivatives are recognized as assets or liabilities in the Consolidated Balance Sheets at their fair value. When the derivative instrument qualifies as a cash flow hedge, changes in the fair value are deferred through other comprehensive earnings, depending on the nature and effectiveness of the offset. Concurrent with the refinancing on March 2, 2020, the Company designated certain interest rate swaps with an initial notional amount of $1,200.0 as cash flow hedges effectively swapping such amount in LIBOR based floating rate debt for fixed rate debt. The Company uses interest rate swaps to manage the interest rate mix of our total debt portfolio and related overall cost of borrowing. At June 30, 2021 interest rate swap agreements designated as cash flow hedges effectively swapped a notional amount of $1,000.0 of LIBOR based floating rate debt for fixed rate debt. Our interest rate swaps mature in March 2027. As of June 30, 2021 the fair value of interest rate swaps was $7.5 and was recorded in "Accumulated other comprehensive (loss) income" on the Unaudited Condensed Consolidated Balance Sheets . The total fair value at June 30, 2021 consisted of $10.2 current portion recorded in "Accrued expenses and other liabilities" in the Unaudited Condensed Consolidated Balance Sheets and a $2.7 non-current portion recorded in "Other assets". The Company recognized $2.6, $5.3, $0.5 and $0.5 in earnings for the three and six months ended June 30, 2021 and 2020, respectively. At June 30, 2021, the Company expects that approximately $10.2 of pre-tax net losses on cash flow hedges will be reclassified from Accumulated other comprehensive income (loss) into earnings during the next twelve months. The interest rate swaps are valued using the LIBOR yield curves at the reporting date. Counterparties to these contracts are highly rated financial institutions. The fair values of the Company’s interest rate swaps are adjusted for nonperformance risk and creditworthiness of the counterparty through the Company’s credit valuation adjustment (“CVA”). The CVA is calculated at the counterparty level utilizing the fair value exposure at each payment date and applying a weighted probability of the appropriate survival and marginal default percentages. Public warrants — as the Public warrants were traded in active markets, their value was derived using quoted market prices and are classified as Level 1 financial instruments. Private warrants — the fair value of the Private warrants is considered a Level 2 valuation and is determined using the Black-Sholes-Merton valuation model. The significant assumptions which the Company used in the model are: Warrant valuation inputs June 30, 2021 December 31, 2020 Stock price $ 27.30 $ 18.67 Strike price $ 11.50 $ 11.50 Remaining life 3.60 4.10 Volatility 32.8 % 29.0 % Interest rate (1) 0.58 % 0.27 % Dividend yield (2) 0.04 % 0.05 % (1) Interest rate determined from a constant maturity treasury yield (2) June 30, 2021 and December 31, 2020 dividend yield assumes $0.01 per share per annum. Foreign currency exchange rate risk management We conduct business in several major international currencies and are, therefore, subject to risks associated with changing foreign currency exchange rates. We enter into various contracts that change in value as foreign currency exchange rates change to manage this exposure. Such contracts limit exposure to both favorable and unfavorable currency exchange rate fluctuations. Other fair value measurements We determine the fair value of debt using Level 2 inputs based on quoted market prices. The following table presents the estimated fair value and carrying value of long-term debt, including the current portion of long-term debt as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Fair Value Par Value (1) Fair Value Par Value (1) Term Loan due 2027 $ 2,156.3 $ 2,172.6 $ 2,169.9 $ 2,183.5 (1) See Note 5 — Debt for additional information

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Activity in accumulated other comprehensive income (loss) is as follows: Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Foreign currency translation, beginning $ 68.8 $ (21.4) $ 104.9 $ 32.9 Other comprehensive income (loss) 20.2 11.9 (15.9) (42.4) Foreign currency translation, ending 89.0 (9.5) 89.0 (9.5) Interest rate swaps, beginning 1.1 (24.0) (32.8) — Unrealized gain (loss) deferred during the period (1) (8.6) (11.5) 25.3 (35.5) Interest rate swaps, ending (7.5) (35.5) (7.5) (35.5) Pension, beginning (20.5) (15.0) (19.7) (14.8) Actuarial gains (losses) recognized during the period, net of income taxes 0.2 — (0.6) (0.2) Pension, ending (20.3) (15.0) (20.3) (15.0) Tax receivable agreement, beginning 3.2 25.9 (0.9) — Unrealized gain (loss) during the period (2) (9.4) (9.7) (5.3) 16.2 Tax receivable agreement, ending (6.2) 16.2 (6.2) 16.2 Accumulated other comprehensive income (loss) $ 55.0 $ (43.8) $ 55.0 $ (43.8) (1) During the three and six months ended June 30, 2021 and 2020, $2.6, $5.3, $0.5 and $0.5, respectively, was reclassified into earnings. (2) The fair value movement on the Tax Receivable Agreement attributable to our own credit risk spread is recorded in other comprehensive (loss) income.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 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. At the beginning of 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) North Asia 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 during the first half of fiscal 2021. 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 North Asia and ASI. 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 June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Americas $ 568.2 $ 488.1 $ 1,074.1 $ 957.5 Asia Pacific 416.3 340.6 793.9 579.6 Europe, Middle East & Africa 310.2 210.1 560.6 427.8 1,294.7 1,038.8 2,428.6 1,964.9 Eliminations (34.4) (33.1) (69.9) (61.9) Total $ 1,260.3 $ 1,005.7 $ 2,358.7 $ 1,903.0 Intersegment sales (1) Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Americas $ 3.3 $ 3.4 $ 7.7 $ 6.1 Asia Pacific 18.3 17.8 38.5 32.9 Europe, Middle East & Africa 12.8 11.9 23.7 22.9 Total $ 34.4 $ 33.1 $ 69.9 $ 61.9 (1) Intersegment selling prices approximate market prices. Operating profit (loss) (1) Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Americas $ 128.6 $ 130.0 $ 255.0 $ 221.5 Asia Pacific 62.8 56.1 115.9 77.0 Europe, Middle East & Africa 62.4 27.5 95.8 48.3 Total reportable segments 253.8 213.6 466.7 346.8 Foreign currency gain (loss) (4.1) (2.8) 2.8 (4.6) Corporate and other (115.6) (108.0) (223.8) (219.2) Total corporate, other and eliminations (119.7) (110.8) (221.0) (223.8) Amortization of intangibles (31.9) (32.2) (63.7) (64.6) Operating profit (loss) $ 102.2 $ 70.6 $ 182.0 $ 58.4 (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 three and six months ended June 30, 2020 have been presented in conformity with the updated format.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	EARNINGS (LOSS) PER SHARE Basic earnings per ordinary share is computed by dividing net earnings attributable to holders of the Company's Class A common shares by the weighted average number of common shares outstanding during the period. Diluted earnings per ordinary share is computed by dividing net earnings attributable to holders of the Company's Class A common shares by the weighted average number of common shares outstanding during the period increased by the number of additional shares that would have been outstanding related to potentially dilutive securities or instruments, if the impact is dilutive. The details of the earnings per share calculations for the three and six months ended June 30, 2021 and 2020 are as follows (in millions, except per share and per share amounts): Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Net income (loss) attributable to common shareholders $ 9.7 $ (56.0) $ 41.4 $ (264.3) Weighted-average number of ordinary shares outstanding - basic 352,199,184 328,411,705 350,908,612 284,534,285 Dilutive effect of equity-based compensation and warrants 4,453,627 — 3,975,257 — Weighted-average number of ordinary shares outstanding - diluted 356,652,811 328,411,705 354,883,869 284,534,285 Net income per share attributable to common shareholders Basic $ 0.03 $ (0.17) $ 0.12 $ (0.93) Diluted 0.03 (0.17) 0.12 (0.93) The dilutive effect of stock awards was 4.5 million and 4.0 million shares during the three and six months ended June 30, 2021. Additional stock awards and warrants were also outstanding during the three and six months ended June 30, 2021, but were not included in the computation of diluted earnings per common share because the effect would be anti-dilutive. Such anti-dilutive stock awards and warrants represented 0.5 million and 5.5 million shares for the three months ended June 30, 2021, and 1.0 million and 6.5 million shares for the six months ended June 30, 2021, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is a party to a number of pending legal proceedings and claims, including those involving general and product liability and other matters. The Company accrues for such liabilities when it is probable that future costs will be incurred and such costs can be reasonably estimated. Accruals are based on developments to date; management’s estimates of the outcomes of these matters; the Company’s experience in contesting, litigating and settling similar matters; and any related insurance coverage. While the Company believes that a material adverse impact is unlikely, given the inherent uncertainty of litigation, a future development in these matters could have a material adverse impact on the Company. The Company is unable to estimate any additional loss or range of loss that may result from the ultimate resolution of these matters, other than those described below. On May 10, 2018, the jury in the case of Bladeroom Group Limited, et al. v. Facebook, Inc., Emerson Electric Co., Emerson Network Power Solutions, Inc. (now known as Vertiv Solutions, Inc.) and Liebert Corporation returned a verdict in favor of the plaintiff in the amount of $30.0. The jury found the defendants breached a confidentiality agreement with Bladeroom, were unjustly enriched by such breach, improperly disclosed or used certain of the plaintiff’s trade secrets and the misappropriation of such trade secrets was willful and malicious. On March 11, 2019, the court entered orders in the case affirming the original award of $30.0 and imposing an additional award for punitive damages of $30.0 as well as attorney fees and interest. Under the terms of the purchase agreement with Emerson, the Company is indemnified for damages arising out of or relating to this case, including the above amounts. On August 12, 2019, judgment was entered, confirming the award entered on March 11, 2019. Emerson has submitted an appeal, and in connection with the appeal has submitted a surety bond underwritten by a third-party insurance company in the amount of $120.1. As of June 30, 2021, the Company had accrued $96.2 in accrued expenses, the full amount of the judgment, and recorded an offsetting indemnification receivable of $96.2 in other current assets related to this matter. On December 28, 2017, Vertiv acquired Energy Labs, Inc. (“Energy Labs”). The purchase agreement contained a provision for contingent consideration in the form of an earn-out payment based on the achievement of 2018 operating results. The range of outcomes was zero to $34.5. On June 4, 2019, Vertiv notified the selling shareholders of Energy Labs of Vertiv’s determination that the applicable 2018 operating results had not been achieved and that no contingent consideration was due to the selling shareholders. On September 6, 2019, the selling shareholders of Energy Labs notified Vertiv of their dispute regarding the contingent consideration due to them. The selling shareholders assert that the applicable 2018 operating results were exceeded and that Vertiv owes $34.5 in earn-out, the highest amount of earn-out possible under the agreement. As of June 30, 2021 and December 31, 2020, the Company had accrued $2.8 in accrued expenses. Discovery is underway and a trial has been scheduled for February 2022. While Vertiv believes it has meritorious defenses against the assertions of the selling shareholders of Energy Labs, Vertiv is unable at this time to predict the outcome of this dispute. If Vertiv is unsuccessful, the ultimate resolution of this dispute could result in a loss of up to $31.7 in excess of the $2.8 accrued as well as costs and legal fees. At June 30, 2021, there were no known contingent liabilities (including guarantees, taxes and other claims) that management believes will be material in relation to the Company’s consolidated financial statements, nor were there any material commitments outside the normal course of business other than those described above.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The unaudited condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles ("GAAP") in the United States of America and the rules and regulations of the Securities and Exchange Commission ("SEC") and include the accounts of the Company and its subsidiaries in which the Company has a controlling interest. These condensed consolidated interim financial statements do not include all of the information and footnotes required for complete financial statements. In management’s opinion, these financial statements reflect all adjustments of a normal, recurring nature necessary for a fair presentation of the results for the interim periods presented. The presentation of certain prior period amounts includes the reclassification of intangible amortization expense, restructuring costs and net foreign currency (gain) loss into separate components within operating expenses to conform to the current period presentation. In addition certain prior period amounts have been reclassed to confirm with current year presentation. The preparation of financial statements in conformity with GAAP in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from the estimates. On an ongoing basis, management reviews its estimates based on currently available information. Changes in facts and circumstances may result in revised estimates. Results for these interim periods are not necessarily indicative of results to be expected for the full year due to, among other reasons, the continued uncertainty of general economic conditions due to the COVID-19 pandemic that has impacted, and may continue to impact, our sales channels, supply chain, manufacturing operations, workforce, or other key aspects of our operations. The notes included herein should be read in conjunction with the Company's audited consolidated financial statements included in the Company's Annual Report on Form 10-K/A filed with the SEC on April 30, 2021 (the "2020 Form 10-K/A").

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our revenue by business segment, product and service offering and timing of transfer of control: Three Months Ended June 30, 2021 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: Critical infrastructure & solutions $ 305.3 $ 239.8 $ 181.7 $ 726.8 Services & spares 179.6 106.3 77.3 363.2 Integrated rack solutions 80.0 51.9 38.4 170.3 Total $ 564.9 $ 398.0 $ 297.4 $ 1,260.3 Timing of revenue recognition: Products and services transferred at a point in time $ 403.1 $ 315.8 $ 248.3 $ 967.2 Products and services transferred over time 161.8 82.2 49.1 293.1 Total $ 564.9 $ 398.0 $ 297.4 $ 1,260.3 Three Months Ended June 30, 2020 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: (1) Critical infrastructure & solutions $ 251.1 $ 196.8 $ 99.4 $ 547.3 Services & spares 161.1 86.1 64.7 311.9 Integrated rack solutions 72.5 39.9 34.1 146.5 Total $ 484.7 $ 322.8 $ 198.2 $ 1,005.7 Timing of revenue recognition: Products and services transferred at a point in time $ 332.4 $ 256.8 $ 153.4 $ 742.6 Products and services transferred over time 152.3 66.0 44.8 263.1 Total $ 484.7 $ 322.8 $ 198.2 $ 1,005.7 (1) Comparative results for Critical infrastructure & solutions, Services & spares and Integrated rack solutions for the three months ended June 30, 2020 have been adjusted by $4.9, $(8.7), and $3.8, respectively, to reflect the strategic realignment described above. Six Months Ended June 30, 2021 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: Critical infrastructure & solutions $ 584.8 $ 455.8 $ 314.1 $ 1,354.7 Services & spares 333.7 201.8 149.4 684.9 Integrated rack solutions 147.9 97.8 73.4 319.1 Total $ 1,066.4 $ 755.4 $ 536.9 $ 2,358.7 Timing of revenue recognition: Products and services transferred at a point in time $ 763.6 $ 597.4 $ 443.3 $ 1,804.3 Products and services transferred over time 302.8 158.0 93.6 554.4 Total $ 1,066.4 $ 755.4 $ 536.9 $ 2,358.7 Six Months Ended June 30, 2020 Americas Asia Pacific Europe, Middle East, & Africa Total Sales by Product and Service Offering: (1) Critical infrastructure & solutions $ 491.2 $ 310.8 $ 204.7 $ 1,006.7 Services & spares 322.7 164.9 129.9 617.5 Integrated rack solutions 137.5 71.0 70.3 278.8 Total $ 951.4 $ 546.7 $ 404.9 $ 1,903.0 Timing of revenue recognition: Products and services transferred at a point in time $ 645.6 $ 417.7 $ 319.2 $ 1,382.5 Products and services transferred over time 305.8 129.0 85.7 520.5 Total $ 951.4 $ 546.7 $ 404.9 $ 1,903.0 (1) Comparative results for Critical infrastructure & solutions, Services & spares and Integrated rack solutions for the six months ended June 30, 2020 have been adjusted by $7.0, $(11.4), and $4.4, respectively, to reflect the strategic realignment described above.
Schedule of Contract Assets, Liabilities and Deferred Revenue	The opening and closing balances of our current and long-term contract assets and current and long-term deferred revenue are as follows: Balances at June 30, 2021 Balances at December 31, 2020 Deferred revenue - current (1) $ 231.1 $ 199.6 Deferred revenue - noncurrent (2) 42.3 38.8 Other contract liabilities - current (1) 50.5 36.1 (1) Current deferred revenue and contract liabilities are included within accrued expenses and other liabilities. (2) Noncurrent deferred revenue is recorded within other long-term liabilities.

Restructuring Costs (Tables)

Restructuring Costs (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Summary of Restructuring Costs by Segment	Restructuring costs by business segment are as follows: Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Americas $ 1.4 $ 0.7 $ 2.1 $ 1.0 Asia Pacific 3.2 — 3.4 0.2 Europe, Middle East & Africa (3.8) 1.6 (2.7) 0.8 Corporate 0.3 0.1 0.3 (0.7) Total $ 1.1 $ 2.4 $ 3.1 $ 1.3
Summary of the Change in the Liability for the Restructuring of Operations	The change in the liability for the restructuring of operations during the six months ended June 30, 2021 are as follows: December 31, 2020 Expense Paid/Utilized June 30, 2021 Severance and benefits $ 68.9 $ (0.4) $ (15.8) $ 52.7 Plant closing and other 0.4 3.5 (3.6) 0.3 Total $ 69.3 $ 3.1 $ (19.4) $ 53.0 The change in the liability for the restructuring of operations during the six months ended June 30, 2020 are as follows: December 31, 2019 Expense Paid/Utilized June 30, 2020 Severance and benefits $ 21.6 $ 0.6 $ (12.7) $ 9.5 Plant closing and other 0.6 0.7 (0.8) 0.5 Total $ 22.2 $ 1.3 $ (13.5) $ 10.0

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Summary of Long-term Debt, Net	Long-term debt, net, consists of the following as of June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. $ 2,172.6 $ 2,183.5 Unamortized discount and issuance costs (28.0) (31.0) 2,144.6 2,152.5 Less: Current Portion (21.8) (22.0) Total long-term debt, net of current portion $ 2,122.8 $ 2,130.5
Schedule of Maturities of Long-term Debt	Contractual maturities of the Company’s debt obligations as of June 30, 2021 are shown below: Term Loan Remainder of 2021 $ 10.9 2022 21.8 2023 21.8 2024 21.8 2025 21.8 2026 21.8 Thereafter 2,052.7 Total $ 2,172.6

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Summary of Operating Lease Expense, Cash Flow Information, And Weighted Average Remaining Lease Terms and Discount Rates	Operating lease expenses are recorded in "Cost of sales" and "Selling, general and administrative expenses" on the Unaudited Condensed Consolidated Statements of Earnings (Loss). Refer to the below table for a summary of these lease expenses: Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Operating lease cost $ 14.9 $ 12.3 $ 28.6 $ 25.2 Short-term and variable lease cost 5.3 5.6 10.5 13.1 Total lease cost $ 20.2 $ 17.9 $ 39.1 $ 38.3 Supplemental cash flow information related to operating leases is as follows: Six months ended June 30, 2021 Six months ended June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows - Payments on operating leases $ 27.9 $ 25.2 Right-of-use assets obtained in exchange for new lease obligations: Operating leases $ 45.4 $ 24.6 Weighted average remaining lease terms and discount rates for operating leases are as follows: June 30, 2021 December 31, 2020 Weighted Average Remaining Lease Term 5.7 years 4.5 years Weighted Average Discount Rate 5.5 % 5.8 %
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases is as follows: Financial statement line item June 30, 2021 December 31, 2020 Operating lease right-of-use assets Other assets $ 163.9 $ 145.8 Operating lease liabilities Accrued expenses and other liabilities 43.7 42.3 Operating lease liabilities Other long-term liabilities 124.4 107.3 Total lease liabilities $ 168.1 $ 149.6
Summary of Maturities of Lease Liabilities	Maturities of lease liabilities are as follows: June 30, 2021 December 31, 2020 Operating Leases 2021 $ 27.4 $ 51.0 2022 47.6 41.4 2023 39.7 33.4 2024 27.1 20.9 2025 16.1 10.4 Thereafter 41.8 17.2 Total Lease Payments 199.7 174.3 Less: Imputed Interest (31.6) (24.7) Present value of lease liabilities $ 168.1 $ 149.6

Other Financial Information (Ta

Other Financial Information (Tables)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Cash, Cash Equivalents, and Restricted Cash	June 30, 2021 December 31, 2020 Reconciliation of cash, cash equivalents, and restricted cash Cash and cash equivalents $ 708.8 $ 534.6 Restricted cash included in other current assets 8.0 8.0 Total cash, cash equivalents, and restricted cash $ 716.8 $ 542.6
Other Supplemental Balance Sheet Information	June 30, 2021 December 31, 2020 Inventories Finished products $ 222.9 $ 201.0 Raw materials 177.2 155.7 Work in process 151.3 89.9 Total inventories $ 551.4 $ 446.6 June 30, 2021 December 31, 2020 Property, plant and equipment, net Machinery and equipment $ 341.3 $ 322.4 Buildings 255.0 255.5 Land 46.9 47.4 Construction in progress 16.7 23.1 Property, plant and equipment, at cost 659.9 648.4 Less: Accumulated depreciation (250.7) (220.8) Property, plant and equipment, net $ 409.2 $ 427.6 June 30, 2021 December 31, 2020 Accrued expenses and other liabilities Deferred revenue $ 231.1 $ 199.6 Accrued payroll and other employee compensation 119.1 138.5 Litigation reserve (see note 14) 96.2 96.6 Contract liabilities (see note 3) 50.5 36.1 Operating lease liabilities 43.7 42.3 Product warranty 35.9 36.5 Restructuring (see note 4) 53.0 69.3 Other 267.7 282.9 Total $ 897.2 $ 901.8 2021 2020 Change in product warranty accrual Beginning balance, January 1 $ 36.5 $ 43.3 Provision charge to expense 11.3 13.2 Paid/utilized (11.9) (19.6) Ending balance, June 30, $ 35.9 $ 36.9

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Recognized at Fair Value	A summary of the Company's financial instruments recognized at fair value, and the fair value measurements used, follows: Balance Sheet Location Total Quoted prices in active markets for identical assets (Level 1) Other observable inputs (Level 2) Unobservable inputs (Level 3) June 30, 2021 Assets: Interest rate swaps Other noncurrent assets $ 2.7 $ — $ 2.7 $ — Total assets $ 2.7 $ — $ 2.7 $ — Liabilities: Interest rate swaps Accrued expenses and other liabilities $ 10.2 $ — $ 10.2 $ — Tax Receivable Agreement Other long-term liabilities 162.5 — — 162.5 Private warrants Warrant liabilities 172.5 — 172.5 — Total liabilities $ 345.2 $ — $ 182.7 $ 162.5 Balance Sheet Location Total Quoted prices in active markets for identical assets (Level 1) Other observable inputs (Level 2) Unobservable inputs (Level 3) December 31, 2020 Liabilities: Tax Receivable Agreement Other long-term liabilities $ 155.6 $ — $ — $ 155.6 Interest rate swaps Accrued expenses and other liabilities 10.3 — 10.3 — Interest rate swaps Other long-term liabilities 22.5 — 22.5 — Public warrants Current portion of warrant liabilities 68.5 68.5 — — Private warrants Warrant liabilities 87.7 — 87.7 — Total liabilities $ 344.6 $ 68.5 $ 120.5 $ 155.6
Summary of the Change in Value for the Tax Receivable Agreement	Details of the changes in value for the Tax Receivable Agreement are as follows: 2021 2020 Beginning liability balance, January 1 $ 155.6 $ — Tax receivable agreement, initially recorded — 133.4 Change in fair value 6.9 (0.1) Ending liability balance, June 30, $ 162.5 $ 133.3
Fair Value Measurement Inputs and Valuation Techniques	The significant assumptions which the Company used in the model are: Warrant valuation inputs June 30, 2021 December 31, 2020 Stock price $ 27.30 $ 18.67 Strike price $ 11.50 $ 11.50 Remaining life 3.60 4.10 Volatility 32.8 % 29.0 % Interest rate (1) 0.58 % 0.27 % Dividend yield (2) 0.04 % 0.05 % (1) Interest rate determined from a constant maturity treasury yield (2) June 30, 2021 and December 31, 2020 dividend yield assumes $0.01 per share per annum.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table presents the estimated fair value and carrying value of long-term debt, including the current portion of long-term debt as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Fair Value Par Value (1) Fair Value Par Value (1) Term Loan due 2027 $ 2,156.3 $ 2,172.6 $ 2,169.9 $ 2,183.5 (1) See Note 5 — Debt for additional information

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Schedule of Activity in Accumulated Other Comprehensive Income (Loss)	Activity in accumulated other comprehensive income (loss) is as follows: Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Foreign currency translation, beginning $ 68.8 $ (21.4) $ 104.9 $ 32.9 Other comprehensive income (loss) 20.2 11.9 (15.9) (42.4) Foreign currency translation, ending 89.0 (9.5) 89.0 (9.5) Interest rate swaps, beginning 1.1 (24.0) (32.8) — Unrealized gain (loss) deferred during the period (1) (8.6) (11.5) 25.3 (35.5) Interest rate swaps, ending (7.5) (35.5) (7.5) (35.5) Pension, beginning (20.5) (15.0) (19.7) (14.8) Actuarial gains (losses) recognized during the period, net of income taxes 0.2 — (0.6) (0.2) Pension, ending (20.3) (15.0) (20.3) (15.0) Tax receivable agreement, beginning 3.2 25.9 (0.9) — Unrealized gain (loss) during the period (2) (9.4) (9.7) (5.3) 16.2 Tax receivable agreement, ending (6.2) 16.2 (6.2) 16.2 Accumulated other comprehensive income (loss) $ 55.0 $ (43.8) $ 55.0 $ (43.8) (1) During the three and six months ended June 30, 2021 and 2020, $2.6, $5.3, $0.5 and $0.5, respectively, was reclassified into earnings. (2) The fair value movement on the Tax Receivable Agreement attributable to our own credit risk spread is recorded in other comprehensive (loss) income.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Reportable Segments Sales Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Americas $ 568.2 $ 488.1 $ 1,074.1 $ 957.5 Asia Pacific 416.3 340.6 793.9 579.6 Europe, Middle East & Africa 310.2 210.1 560.6 427.8 1,294.7 1,038.8 2,428.6 1,964.9 Eliminations (34.4) (33.1) (69.9) (61.9) Total $ 1,260.3 $ 1,005.7 $ 2,358.7 $ 1,903.0 Intersegment sales (1) Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Americas $ 3.3 $ 3.4 $ 7.7 $ 6.1 Asia Pacific 18.3 17.8 38.5 32.9 Europe, Middle East & Africa 12.8 11.9 23.7 22.9 Total $ 34.4 $ 33.1 $ 69.9 $ 61.9 (1) Intersegment selling prices approximate market prices. Operating profit (loss) (1) Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Americas $ 128.6 $ 130.0 $ 255.0 $ 221.5 Asia Pacific 62.8 56.1 115.9 77.0 Europe, Middle East & Africa 62.4 27.5 95.8 48.3 Total reportable segments 253.8 213.6 466.7 346.8 Foreign currency gain (loss) (4.1) (2.8) 2.8 (4.6) Corporate and other (115.6) (108.0) (223.8) (219.2) Total corporate, other and eliminations (119.7) (110.8) (221.0) (223.8) Amortization of intangibles (31.9) (32.2) (63.7) (64.6) Operating profit (loss) $ 102.2 $ 70.6 $ 182.0 $ 58.4 (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 three and six months ended June 30, 2020 have been presented in conformity with the updated format.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The details of the earnings per share calculations for the three and six months ended June 30, 2021 and 2020 are as follows (in millions, except per share and per share amounts): Three months ended June 30, 2021 Three months ended June 30, 2020 Six months ended June 30, 2021 Six months ended June 30, 2020 Net income (loss) attributable to common shareholders $ 9.7 $ (56.0) $ 41.4 $ (264.3) Weighted-average number of ordinary shares outstanding - basic 352,199,184 328,411,705 350,908,612 284,534,285 Dilutive effect of equity-based compensation and warrants 4,453,627 — 3,975,257 — Weighted-average number of ordinary shares outstanding - diluted 356,652,811 328,411,705 354,883,869 284,534,285 Net income per share attributable to common shareholders Basic $ 0.03 $ (0.17) $ 0.12 $ (0.93) Diluted 0.03 (0.17) 0.12 (0.93)

Description of Business - Narra

Description of Business - Narrative (Details)	6 Months Ended
	Jun. 30, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3
Number of reportable segments	3

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,260.3	$ 1,005.7	$ 2,358.7	$ 1,903
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	967.2	742.6	1,804.3	1,382.5
Transferred over Time
Disaggregation of Revenue [Line Items]
Net sales	293.1	263.1	554.4	520.5
Critical infrastructure & solutions
Disaggregation of Revenue [Line Items]
Net sales	726.8	547.3	1,354.7	1,006.7
Critical infrastructure & solutions | Restatement Adjustment
Disaggregation of Revenue [Line Items]
Net sales	4.9		7
Services & spares
Disaggregation of Revenue [Line Items]
Net sales	363.2	311.9	684.9	617.5
Services & spares | Restatement Adjustment
Disaggregation of Revenue [Line Items]
Net sales	(8.7)		(11.4)
Integrated rack solutions
Disaggregation of Revenue [Line Items]
Net sales	170.3	146.5	319.1	278.8
Integrated rack solutions | Restatement Adjustment
Disaggregation of Revenue [Line Items]
Net sales	3.8		4.4
Americas
Disaggregation of Revenue [Line Items]
Net sales	564.9	484.7	1,066.4	951.4
Americas | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	403.1	332.4	763.6	645.6
Americas | Transferred over Time
Disaggregation of Revenue [Line Items]
Net sales	161.8	152.3	302.8	305.8
Americas | Critical infrastructure & solutions
Disaggregation of Revenue [Line Items]
Net sales	305.3	251.1	584.8	491.2
Americas | Services & spares
Disaggregation of Revenue [Line Items]
Net sales	179.6	161.1	333.7	322.7
Americas | Integrated rack solutions
Disaggregation of Revenue [Line Items]
Net sales	80	72.5	147.9	137.5
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	398	322.8	755.4	546.7
Asia Pacific | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	315.8	256.8	597.4	417.7
Asia Pacific | Transferred over Time
Disaggregation of Revenue [Line Items]
Net sales	82.2	66	158	129
Asia Pacific | Critical infrastructure & solutions
Disaggregation of Revenue [Line Items]
Net sales	239.8	196.8	455.8	310.8
Asia Pacific | Services & spares
Disaggregation of Revenue [Line Items]
Net sales	106.3	86.1	201.8	164.9
Asia Pacific | Integrated rack solutions
Disaggregation of Revenue [Line Items]
Net sales	51.9	39.9	97.8	71
Europe, Middle East, & Africa
Disaggregation of Revenue [Line Items]
Net sales	297.4	198.2	536.9	404.9
Europe, Middle East, & Africa | Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Net sales	248.3	153.4	443.3	319.2
Europe, Middle East, & Africa | Transferred over Time
Disaggregation of Revenue [Line Items]
Net sales	49.1	44.8	93.6	85.7
Europe, Middle East, & Africa | Critical infrastructure & solutions
Disaggregation of Revenue [Line Items]
Net sales	181.7	99.4	314.1	204.7
Europe, Middle East, & Africa | Services & spares
Disaggregation of Revenue [Line Items]
Net sales	77.3	64.7	149.4	129.9
Europe, Middle East, & Africa | Integrated rack solutions
Disaggregation of Revenue [Line Items]
Net sales	$ 38.4	$ 34.1	$ 73.4	$ 70.3

Revenue - Contract Liabilities

Revenue - Contract Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 231.1	$ 199.6
Deferred revenue - noncurrent	42.3	38.8
Other contract liabilities - current	$ 50.5	$ 36.1

Revenue - Performance Obligatio

Revenue - Performance Obligation (Details) $ in Millions	Jun. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized over time	$ 13.2
Performance obligation expected timing, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized over time	$ 15
Performance obligation expected timing, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized over time	$ 14.1
Performance obligation expected timing, period

Restructuring Costs - By Busine

Restructuring Costs - By Business Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Expense	$ 1.1	$ 2.4	$ 3.1	$ 1.3
Operating Segments | Americas
Restructuring Cost and Reserve [Line Items]
Expense	1.4	0.7	2.1	1
Operating Segments | Asia Pacific
Restructuring Cost and Reserve [Line Items]
Expense	3.2	0	3.4	0.2
Operating Segments | Europe, Middle East, & Africa
Restructuring Cost and Reserve [Line Items]
Expense	(3.8)	1.6	(2.7)	0.8
Corporate
Restructuring Cost and Reserve [Line Items]
Expense	$ 0.3	$ 0.1	$ 0.3	$ (0.7)

Restructuring Costs - Summary o

Restructuring Costs - Summary of Changes in Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 69.3	$ 22.2
Expense	$ 1.1	$ 2.4	3.1	1.3
Paid/Utilized			(19.4)	(13.5)
Restructuring reserve, ending balance	53	10	53	10
Severance and benefits
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			68.9	21.6
Expense			(0.4)	0.6
Paid/Utilized			(15.8)	(12.7)
Restructuring reserve, ending balance	52.7	9.5	52.7	9.5
Plant closing and other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			0.4	0.6
Expense			3.5	0.7
Paid/Utilized			(3.6)	(0.8)
Restructuring reserve, ending balance	$ 0.3	$ 0.5	$ 0.3	$ 0.5

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Unamortized discount and issuance costs	$ (28)	$ (31)
Long-term debt, gross	2,144.6	2,152.5
Less: Current Portion	(21.8)	(22)
Total long-term debt, net of current portion	2,122.8	2,130.5
Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 2,172.6	$ 2,183.5
Weighted average borrowing rate	2.84%	3.15%

Debt - Maturity of Long Term De

Debt - Maturity of Long Term Debt (Details) - Revolving Credit Facility - Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Remainder of 2021	$ 10.9
2022	21.8
2023	21.8
2024	21.8
2025	21.8
2026	21.8
Thereafter	2,052.7
Total	$ 2,172.6	$ 2,183.5

Debt - Term Loan due 2027 (Deta

Debt - Term Loan due 2027 (Details) - USD ($) $ in Millions	Mar. 10, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 0	$ 0	$ 0.4	$ 174
Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate decrease	0.25%
Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. | Revolving Credit Facility | Stated Percentage
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Loss on extinguishment of debt				$ 0.4
Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. | Revolving Credit Facility | One-, Two-, Three- Or Six-Month LIBOR Or, If Agreed By All Term Lenders, 12-month LIBOR Or, If Agreed To By The Term Agent, Any Shorter Period Selected At The Option Of The Borrower
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%

Debt - ABL Revolving Credit Fac

Debt - ABL Revolving Credit Facility (Details) - Revolving Credit Facility - ABL Revolving Credit Facility - Line of Credit $ in Millions	Jun. 30, 2021USD ($)
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity	$ 434.9
Letters of credit outstanding	20.1
Long-term debt, gross	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details)	6 Months Ended
	Jun. 30, 2021
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	20 years

Leases - Operating Lease Costs,

Leases - Operating Lease Costs, and Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 14.9	$ 12.3	$ 28.6	$ 25.2
Short-term and variable lease cost	5.3	5.6	10.5	13.1
Total lease cost	$ 20.2	$ 17.9	39.1	38.3
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows - Payments on operating leases			27.9	25.2
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases			$ 45.4	$ 24.6

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 163.9	$ 145.8
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Operating lease liabilities	$ 43.7	$ 42.3
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Operating lease liability, noncurrent	$ 124.4	$ 107.3
Total lease liabilities	$ 168.1	$ 149.6

Leases - Assumption Used in Cal

Leases - Assumption Used in Calculating Operating Lease Liability (Details)	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted Average Remaining Lease Term	5 years 8 months 12 days	4 years 6 months
Weighted Average Discount Rate	5.50%	5.80%

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturity Schedule (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Leases [Abstract]
2021	$ 27.4	$ 51
2022	47.6	41.4
2023	39.7	33.4
2024	27.1	20.9
2025	16.1	10.4
Thereafter	41.8	17.2
Total Lease Payments	199.7	174.3
Less: Imputed Interest	(31.6)	(24.7)
Present value of lease liabilities	$ 168.1	$ 149.6

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	11.80%	(34.30%)	21.40%	(11.90%)

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Related Party Transactions [Abstract]
Services for the corporate advisory services agreement			$ 0.5
Noncash merger costs			25
True-up of merger consideration, cash received			$ 5.5
Purchases from related party	$ 19.1	$ 12.9		$ 33.7	$ 24.4

Other Financial Information - R

Other Financial Information - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 708.8	$ 534.6
Restricted cash included in other current assets	8	8
Total cash, cash equivalents, and restricted cash	$ 716.8	$ 542.6	$ 379.9	$ 233.7

Other Financial Information - I

Other Financial Information - Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished products	$ 222.9	$ 201
Raw materials	177.2	155.7
Work in process	151.3	89.9
Total inventories	$ 551.4	$ 446.6

Other Financial Information - P

Other Financial Information - Property, Plant And Equipment, Net (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 659.9	$ 648.4
Less: Accumulated depreciation	(250.7)	(220.8)
Property, plant and equipment, net	409.2	427.6
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	341.3	322.4
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	255	255.5
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	46.9	47.4
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 16.7	$ 23.1

Other Financial Information - A

Other Financial Information - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred revenue	$ 231.1	$ 199.6
Accrued payroll and other employee compensation	119.1	138.5
Litigation reserve	96.2	96.6
Contract liabilities	50.5	36.1
Operating lease liabilities	43.7	42.3
Product warranty	35.9	36.5
Restructuring	53	69.3	$ 10	$ 22.2
Other	267.7	282.9
Accrued expenses and other liabilities	$ 897.2	$ 901.8

Other Financial Information - C

Other Financial Information - Change in Product Warranty Accrual (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance, January 1	$ 36.5	$ 43.3
Provision charge to expense	11.3	13.2
Paid/utilized	(11.9)	(19.6)
Ending balance, June 30,	$ 35.9	$ 36.9

Financial Instruments and Ris_3

Financial Instruments and Risk Management - Summary of Assets By Fair Value Hierarchy (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 2.7
Tax Receivable Agreement	162.5	$ 155.6
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities		68.5
Private Placement Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	172.5	87.7
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	2.7
Interest rate swaps	10.2
Total liabilities	345.2	344.6
Interest Rate Swap | Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	10.2
Interest rate swaps		10.3
Interest Rate Swap | Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	2.7
Interest rate swaps		22.5
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	0
Total assets	0
Interest rate swaps	0
Tax Receivable Agreement	0	0
Total liabilities	0	68.5
Quoted prices in active markets for identical assets (Level 1) | Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps		0
Quoted prices in active markets for identical assets (Level 1) | Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps		0
Quoted prices in active markets for identical assets (Level 1) | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities		68.5
Quoted prices in active markets for identical assets (Level 1) | Private Placement Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	2.7
Total assets	2.7
Interest rate swaps	10.2
Tax Receivable Agreement	0	0
Total liabilities	182.7	120.5
Other observable inputs (Level 2) | Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps		10.3
Other observable inputs (Level 2) | Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps		22.5
Other observable inputs (Level 2) | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities		0
Other observable inputs (Level 2) | Private Placement Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	172.5	87.7
Unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	0
Total assets	0
Interest rate swaps	0
Tax Receivable Agreement	162.5	155.6
Total liabilities	162.5	155.6
Unobservable inputs (Level 3) | Accrued Expenses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps		0
Unobservable inputs (Level 3) | Other Long-Term Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps		0
Unobservable inputs (Level 3) | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities		0
Unobservable inputs (Level 3) | Private Placement Warrant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 0	$ 0

Financial Instruments and Ris_4

Financial Instruments and Risk Management - Tax Receivable Agreement Narrative (Details) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Tax Receivable Agreement, estimated payments, undiscounted	$ 191.5			$ 191.5
Fair value of the estimated liability included as an adjustment to additional pain in capital			$ 133.4
Accretion expense, Tax Receivable Agreement	(0.1)	$ 7.1		1.6	$ 16.2
Unrealized gain (loss) recorded in other comprehensive income	$ (9.4)	$ (9.7)		(5.3)	$ 16.2
Tax Receivable Agreement, effect of one percentage point change on fair value				$ 11
Measurement Input, Discount Rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Tax Receivable Agreement, measurement input	0.029			0.029
Additional Paid in Capital
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value of the estimated liability included as an adjustment to additional pain in capital			$ 133.4			$ 133.4

Financial Instruments and Ris_5

Financial Instruments and Risk Management - Tax Receivable Agreement Rollforward (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning liability balance, January 1	$ 155.6	$ 0
Tax receivable agreement, initially recorded	0	133.4
Change in fair value	6.9	(0.1)
Ending liability balance, June 30,	$ 162.5	$ 133.3

Financial Instruments and Ris_6

Financial Instruments and Risk Management - Interest Rate Risk Management Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 02, 2020
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Recognized earnings	$ 2.6	$ 0.5	$ 5.3	$ 0.5
Cash flow hedge loss expected to be reclassified within twelve months			10.2
Interest Rate Swap
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative, notional amount	1,000		1,000		$ 1,200
Interest rate swaps	2.7		2.7
Interest Rate Swap | Accrued Expenses
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate swaps	10.2		10.2
Interest Rate Swap | Other Long-Term Liabilities
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate swaps	$ 2.7		$ 2.7

Financial Instruments and Ris_7

Financial Instruments and Risk Management - Private Placement Warrants Level 2 Valuations Assumptions (Details)	Jun. 30, 2021$ / shares	Dec. 31, 2020$ / shares
Measurement Input, Expected Dividend Payment
Class of Warrant or Right [Line Items]
Warrants outstanding, ,measurement input	0.01	0.01
Private Placement Warrant | Measurement Input, Share Price | Other observable inputs (Level 2)
Class of Warrant or Right [Line Items]
Warrants outstanding, ,measurement input	27.30	18.67
Private Placement Warrant | Measurement Input, Exercise Price | Other observable inputs (Level 2)
Class of Warrant or Right [Line Items]
Warrants outstanding, ,measurement input	11.50	11.50
Private Placement Warrant | Measurement Input, Expected Term | Other observable inputs (Level 2)
Class of Warrant or Right [Line Items]
Remaining life	3 years 7 months 6 days	4 years 1 month 6 days
Private Placement Warrant | Measurement Input, Price Volatility | Other observable inputs (Level 2)
Class of Warrant or Right [Line Items]
Warrants outstanding, ,measurement input	0.328	0.290
Private Placement Warrant | Measurement Input, Risk Free Interest Rate | Other observable inputs (Level 2)
Class of Warrant or Right [Line Items]
Warrants outstanding, ,measurement input	0.0058	0.0027
Private Placement Warrant | Measurement Input, Expected Dividend Rate | Other observable inputs (Level 2)
Class of Warrant or Right [Line Items]
Warrants outstanding, ,measurement input	0.0004	0.0005

Financial Instruments and Ris_8

Financial Instruments and Risk Management - Fair Value and Carrying Value of Debt (Details) - Revolving Credit Facility - Term Loan due 2027 at 2.84% and 3.15% at June 30, 2021 and December 31, 2020, respectively. - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	$ 2,156.3	$ 2,169.9
Par Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	$ 2,172.6	$ 2,183.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 728.7	$ 276.2	$ 512.1	$ (704.8)	[1]
Other comprehensive income (loss), net of tax	2.4	(9.3)	3.5	(61.9)
Ending balance	743.7	213	743.7	213
Unrealized losses on cash flow hedges reclassified into earnings		0.5		0.5
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	68.8	(21.4)	104.9	32.9
Other comprehensive income (loss), net of tax	20.2	11.9	(15.9)	(42.4)
Ending balance	89	(9.5)	89	(9.5)
Interest Rate Swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1.1	(24)	(32.8)	0
Other comprehensive income (loss), net of tax	(8.6)	(11.5)	25.3	(35.5)
Ending balance	(7.5)	(35.5)	(7.5)	(35.5)
Pension
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(20.5)	(15)	(19.7)	(14.8)
Other comprehensive income (loss), net of tax	0.2	0	(0.6)	(0.2)
Ending balance	(20.3)	(15)	(20.3)	(15)
Tax Receivable Agreement
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3.2	25.9	(0.9)	0
Other comprehensive income (loss), net of tax	(9.4)	(9.7)	(5.3)	16.2
Ending balance	(6.2)	16.2	(6.2)	16.2
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	52.6	(34.5)	51.5	18.1	[1]
Ending balance	$ 55	$ (43.8)	$ 55	$ (43.8)
[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).

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2021USD ($)segment
Segment Reporting [Abstract]
New operating segments identified | segment	2
Goodwill, impairment loss | $	$ 0

Segment Information - Schedule

Segment Information - Schedule of Sales By Business Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ 1,260.3	$ 1,005.7	$ 2,358.7	$ 1,903
Americas
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	564.9	484.7	1,066.4	951.4
Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	398	322.8	755.4	546.7
Europe, Middle East, & Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	297.4	198.2	536.9	404.9
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	1,294.7	1,038.8	2,428.6	1,964.9
Operating Segments | Americas
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	568.2	488.1	1,074.1	957.5
Operating Segments | Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	416.3	340.6	793.9	579.6
Operating Segments | Europe, Middle East, & Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	310.2	210.1	560.6	427.8
Intersegment Eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	34.4	33.1	69.9	61.9
Intersegment Eliminations | Americas
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	3.3	3.4	7.7	6.1
Intersegment Eliminations | Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	18.3	17.8	38.5	32.9
Intersegment Eliminations | Europe, Middle East, & Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ 12.8	$ 11.9	$ 23.7	$ 22.9

Segment Information - Schedul_2

Segment Information - Schedule of Earnings (Loss) from Continuing Operations before Income Taxes by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	$ 11	$ (41.7)	$ 52.7	$ (236.2)
Foreign currency (gain) loss, net	(4.1)	(2.8)	2.8	(4.6)
Amortization of intangibles			(70.5)	(72)
Operating profit (loss)	102.2	70.6	182	58.4
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	253.8	213.6	466.7	346.8
Operating Segments | Americas
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	128.6	130	255	221.5
Operating Segments | Asia Pacific
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	62.8	56.1	115.9	77
Operating Segments | Europe, Middle East, & Africa
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	62.4	27.5	95.8	48.3
Segment Reconciling Items
Segment Reporting, Revenue Reconciling Item [Line Items]
Amortization of intangibles	(31.9)	(32.2)	(63.7)	(64.6)
Corporate and other
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	(115.6)	(108)	(223.8)	(219.2)
Total corporate, other and eliminations
Segment Reporting, Revenue Reconciling Item [Line Items]
Income (loss) before income taxes	$ (119.7)	$ (110.8)	$ (221)	$ (223.8)

Earnings (Loss) Per Share - Ear

Earnings (Loss) Per Share - Earnings Per Share Reconciliation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 9.7	$ 31.7	$ (56)	$ (208.3)	$ 41.4	$ (264.3)
Weighted-average numb er of ordinary shares outstanding - basic (in shares)	352,199,184		328,411,705		350,908,612	284,534,285
Dilutive effect of equity-based compensation and warrants (in shares)	4,453,627		0		3,975,257	0
Weighted-average number of ordinary shares outstanding - diluted (in shares)	356,652,811		328,411,705		354,883,869	284,534,285
Net income per share attributable to common shareholders
Basic (USD per share)	$ 0.03		$ (0.17)		$ 0.12	$ (0.93)
Diluted (USD per share)	$ 0.03		$ (0.17)		$ 0.12	$ (0.93)

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive effect of equity-based compensation and warrants (in shares)	4,453,627	0	3,975,257	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	500,000	1,500,000	1,000,000	3,100,000
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	5,500,000	33,500,000	6,500,000	33,500,000

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	Sep. 06, 2019	Mar. 11, 2019	May 10, 2018	Jun. 30, 2021	Dec. 31, 2020	Aug. 12, 2019	Jun. 04, 2019	Dec. 28, 2017
Loss Contingencies [Line Items]
Other current assets				$ 215,200,000	$ 183,200,000
Energy Labs
Loss Contingencies [Line Items]
Business combination, contingent consideration arrangements, range of outcomes, value, low								$ 0
Business combination, contingent consideration arrangements, range of outcomes, value, high								$ 34,500,000
Business combination, contingent consideration, liability							$ 0
Bladeroom Group Limited, Et Al
Loss Contingencies [Line Items]
Amount awarded to other party		$ 30,000,000	$ 30,000,000
Loss contingency accrual				96,200,000
Bladeroom Group Limited, Et Al | Indemnification Agreement
Loss Contingencies [Line Items]
Other current assets				96,200,000
Energy Labs
Loss Contingencies [Line Items]
Loss contingency accrual				2,800,000	$ 2,800,000
Loss contingency, damages sought	$ 34,500,000
Loss contingency, range of possible loss, portion not accrued				$ 31,700,000
Surety Bond | Bladeroom Group Limited, Et Al
Loss Contingencies [Line Items]
Estimate of possible loss						$ 120,100,000