Vertiv Holdings Co (VRT) FY2024 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-03-31

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Vertiv Holdings Co cash flow reconciliation, Jan 1, 2024 through Mar 31, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Change in fair value of warrant liabilities → operating reconciliation: $176,600,000.00Deferred revenue → operating reconciliation: $100,000,000.00Amortization → operating reconciliation: $48,900,000.00Depreciation → operating reconciliation: $19,800,000.00Accounts receivable → operating reconciliation: $9,900,000.00Accounts payable → operating reconciliation: $9,800,000.00Stock-based compensation → operating reconciliation: $9,200,000.00Amortization of debt discount and issuance costs → operating reconciliation: $2,100,000.00operating reconciliation → Net cash from operating activities: $137,500,000.00operating reconciliation → Net income (loss): $5,900,000.00operating reconciliation → Inventories: $106,500,000.00operating reconciliation → Accrued expenses and other liabilities: $68,500,000.00operating reconciliation → Other current assets: $31,700,000.00operating reconciliation → Income taxes: $12,700,000.00operating reconciliation → Deferred income taxes: $7,600,000.00operating reconciliation → Other: $5,900,000.00investing reconciliation → Capital expenditures: $35,800,000.00investing reconciliation → Investments in capitalized software: $700,000.00Net cash used in financing activities → financing reconciliation: $603,100,000.00Borrowings from ABL revolving credit facility and short-term borrowings → financing reconciliation: $190,000,000.00Exercise of employee stock options → financing reconciliation: $14,400,000.00financing reconciliation → Repurchase of common stock: $599,900,000.00financing reconciliation → Repayments of ABL revolving credit facility and short-term borrowings: $190,000,000.00financing reconciliation → Dividend payment: $9,300,000.00financing reconciliation → Repayment of long-term debt: $5,300,000.00financing reconciliation → Employee taxes paid from shares withheld: $3,000,000.00Net cash used in investing activities → investing reconciliation: $36,500,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $788,600,000.00Net cash from operating activities → Cash sources and uses: $137,500,000.00Cash sources and uses → Exchange-rate effect: $6,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $280,500,000.00Cash sources and uses → Net cash used in investing activities: $36,500,000.00Cash sources and uses → Net cash used in financing activities: $603,100,000.00Accounts payable: $9,800,000.00Accounts payable+$9.80 MDeferred revenue: $100,000,000.00Deferred revenue+$100.00 MAccrued expenses and other liabilities: -$68,500,000.00Accrued liabilities−$68.50 MInventories: -$106,500,000.00Inventories−$106.50 MAccounts receivable: $9,900,000.00Accounts receivable+$9.90 MOther current assets: -$31,700,000.00Other current assets−$31.70 MIncome taxes: -$12,700,000.00Income taxes payable−$12.70 MDeferred income taxes: -$7,600,000.00Deferred taxes & credits−$7.60 MChange in fair value of warrant liabilities: $176,600,000.00Warrant fair value+$176.60 MNet income (loss): -$5,900,000.00Net income (loss)−$5.90 MDepreciation: $19,800,000.00Depreciation expense+$19.80 MAmortization of debt discount and issuance costs: $2,100,000.00Debt cost amortization+$2.10 MOther: -$5,900,000.00Other operating, net−$5.90 MAmortization: $48,900,000.00Intangible amortization+$48.90 MStock-based compensation: $9,200,000.00Stock-based compensation+$9.20 MNet cash from operating activities: $137,500,000.00Operating cash+$137.50 Moperating reconciliation: $376,300,000.00Borrowings from ABL revolving credit facility and short-term borrowings: $190,000,000.00Borrowings from ABL revolving credit facility andshort-term borrowings+$190.00 MExercise of employee stock options: $14,400,000.00Stock option exercises+$14.40 MEmployee taxes paid from shares withheld: -$3,000,000.00Stock-award tax withholding−$3.00 MRepayments of ABL revolving credit facility and short-term borrowings: -$190,000,000.00Repayments of ABL revolving credit facility andshort-term borrowings−$190.00 MRepayment of long-term debt: -$5,300,000.00Senior debt repaid−$5.30 MRepurchase of common stock: -$599,900,000.00Common stock repurchases−$599.90 MDividend payment: -$9,300,000.00Dividends paid−$9.30 MNet cash used in financing activities: -$603,100,000.00. Cash required to fund net payments.Financing cash−$603.10 Mfinancing reconciliation: $807,500,000.00Investments in capitalized software: -$700,000.00Software spending−$700.00 KCapital expenditures: -$35,800,000.00PP&E purchases−$35.80 MProceeds from disposition of property, plant and equipment: $0.00Net cash used in investing activities: -$36,500,000.00. Cash required to fund net payments.Investing cash−$36.50 Minvesting reconciliation: $36,500,000.00Cash sources and uses: $926,100,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $788,600,000.00Beginning cash$788.60 MEnding cash: Cash, cash equivalents, and restricted cash: $280,500,000.00Ending cash$280.50 MExchange-rate effect: -$6,000,000.00FX effect−$6.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsNet loss −$5.90M + net operating adjustments $143.40M = operating cash +$137.50MFree cash flow$101.70 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change−$508.10 MEnding cash − beginning cash
Chart details

Vertiv Holdings Co cash flow reconciliation, Jan 1, 2024 through Mar 31, 2024

Cash flows for Jan 1, 2024 through Mar 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Mar 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
788,600,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
137,500,000 US dollars. Net cash provided.
Net income (loss)
negative 5,900,000 US dollars
Accounts payable
9,800,000 US dollars
Deferred revenue
100,000,000 US dollars
Accrued expenses and other liabilities
negative 68,500,000 US dollars
Inventories
negative 106,500,000 US dollars
Accounts receivable
9,900,000 US dollars
Other current assets
negative 31,700,000 US dollars
Income taxes
negative 12,700,000 US dollars
Deferred income taxes
negative 7,600,000 US dollars
Change in fair value of warrant liabilities
176,600,000 US dollars
Depreciation
19,800,000 US dollars
Amortization of debt discount and issuance costs
2,100,000 US dollars
Other
negative 5,900,000 US dollars
Amortization
48,900,000 US dollars
Stock-based compensation
9,200,000 US dollars
Investing activities
negative 36,500,000 US dollars. Net cash used.
Investments in capitalized software
negative 700,000 US dollars
Capital expenditures
negative 35,800,000 US dollars
Proceeds from disposition of property, plant and equipment
0 US dollars
Financing activities
negative 603,100,000 US dollars. Net cash used.
Borrowings from ABL revolving credit facility and short-term borrowings
190,000,000 US dollars
Exercise of employee stock options
14,400,000 US dollars
Employee taxes paid from shares withheld
negative 3,000,000 US dollars
Repayments of ABL revolving credit facility and short-term borrowings
negative 190,000,000 US dollars
Repayment of long-term debt
negative 5,300,000 US dollars
Repurchase of common stock
negative 599,900,000 US dollars
Dividend payment
negative 9,300,000 US dollars
Operating adjustment reconciliation
376,300,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
807,500,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
36,500,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 6,000,000 US dollars
Ending cash on Mar 31, 2024
280,500,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
926,100,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 508,100,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
137,500,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
35,800,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
101,700,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$5.90M + net operating adjustments $143.40M = operating cash +$137.50M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 137,500,000 US dollars minus 35,800,000 US dollars equals 101,700,000 US dollars.
Vertiv Holdings Co (VRT) FY2024 Q1 Statement of Cash Flows Sankey chart
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