XML 162 R145.htm IDEA: XBRL DOCUMENT
v3.20.2

DEBT - Term loan (Details) - USD ($) $ in Millions |  |  |  |  |  |  | 1 Months Ended | 6 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Feb. 07, 2020 | Mar. 17, 2017 | Mar. 01, 2017 | Feb. 09, 2017 | Nov. 30, 2016 | Oct. 17, 2016 | Dec. 31, 2017 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | May 31, 2019
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of debt | $ 1,464.0 |  |  |  |  |  |  |  |  |  |  |  |
Debt carrying amount |  |  |  |  |  |  |  |  |  | $ 3,585.2 |  |  |
Long-term Debt |  |  |  |  |  |  |  | $ 2,431.0 |  | 3,467.3 | $ 3,427.8 |  |
Debt issuance cost |  |  |  |  |  |  |  | $ 11.2 | $ 0.0 | 0.0 | 0.0 | $ 39.6 |
Debt instrument, Percentage |  |  |  |  |  | 9.25% |  |  |  |  |  |  |
Base Rate [Member] | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  |  |  |  | 2.00% |  |  |  |  |  |  |  |
Term Loan due 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument face amount |  |  |  |  | $ 2,320.0 |  |  |  |  |  |  |  |
Repayment of debt |  |  | $ 500.0 | $ 75.0 |  |  |  |  |  |  |  |  |
Debt carrying amount |  |  |  | 2,245.0 |  |  |  |  |  | 2,070.0 | 2,070.0 |  |
Percentage of loan amortize in quarterly installments per annum |  | 1.00% | 1.00% |  |  |  |  |  |  |  |  |  |
Long-term Debt |  | $ 325.0 |  |  |  |  | $ 2,070.0 |  |  |  |  | 2,070.0 |
Net Leverage ratio |  | 3.05 |  |  |  |  |  |  |  |  |  |  |
Lender fees |  |  | $ 8.7 |  |  |  |  |  |  |  |  |  |
Consent fee |  |  |  |  |  |  |  |  |  |  |  | 99.0 |
Legal and administrative fee |  |  |  |  |  |  |  |  |  |  |  | $ 6.2 |
Debt issuance cost |  |  | $ 29.2 |  |  |  | $ 4.2 |  |  |  |  |  |
Term Loan due 2023 | London Interbank Offered Rate (LIBOR) [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  | 4.00% |  |  |  |  |  |  |  |  |  |  |
Term Loan due 2023 | Base Rate [Member] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  | 3.00% |  |  |  |  |  |  |  |  |  |  |
9.250% Senior notes due 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument face amount |  |  |  |  |  | $ 750.0 |  |  |  |  |  |  |
Debt carrying amount |  |  |  |  |  |  |  |  |  | 750.0 | 750.0 |  |
Percentage of aggregate principal at a redemption price |  |  |  |  |  | 100.00% |  |  |  |  |  |  |
Percentage of outstanding aggregate principal redemption |  |  |  |  |  | 100.00% |  |  |  |  |  |  |
12.00%/13.00% PIK notes due 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument face amount |  |  |  | 500.0 |  |  |  |  |  |  |  |  |
Repayment of debt |  |  |  | $ 75.0 |  |  |  |  |  |  |  |  |
Debt carrying amount |  |  |  |  |  |  |  |  |  | 500.0 | 500.0 |  |
Debt instrument, Percentage |  |  |  | 13.00% |  |  |  |  |  |  |  |  |
12.00%/13.00% PIK notes due 2022 | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument, Percentage |  |  |  | 12.00% |  |  |  |  |  |  |  |  |
ABL Revolving Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt carrying amount |  |  |  |  |  |  |  |  |  | 145.2 | $ 245.1 |  |
Credit facility maximum borrowing capacity |  |  |  |  | $ 400.0 |  |  |  |  | 455.0 |  |  |
Remaining credit facility |  |  |  |  |  |  |  |  |  | 95.0 |  |  |
Percentage of interest payable onaverage daily unused portion |  |  |  |  | 0.25% |  |  |  |  |  |  |  |
Credit facility availabile |  |  |  |  |  |  |  |  |  | 287.2 |  |  |
Credit facility aggregate principal amount |  |  |  |  |  |  |  |  |  | 22.6 |  |  |
ABL Revolving Credit Facility | Maximum |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  |  |  |  | 1.75% |  |  |  |  |  |  |  |
Increase in credit facility commitments |  |  |  |  | $ 150.0 |  |  |  |  |  |  |  |
ABL Revolving Credit Facility | London Interbank Offered Rate (LIBOR) [Member] | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  |  |  |  | 1.75% |  |  |  |  |  |  |  |
ABL Revolving Credit Facility | London Interbank Offered Rate (LIBOR) [Member] | Maximum |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  |  |  |  | 0.75% |  |  |  |  |  |  |  |
ABL Revolving Credit Facility | FILO tranche [Member] | Minimum |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt variable interest rate |  |  |  |  | 2.75% |  |  |  |  |  |  |  |
10.00% notes due 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |
Debt instrument face amount |  |  |  |  |  |  |  |  |  |  |  |  | $ 120.0
Debt carrying amount |  |  |  |  |  |  |  |  |  | $ 120.0 |  |  |
Debt instrument, Percentage |  |  |  |  |  |  |  |  |  |  |  |  | 10.00%

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage price of original principal amount of debt at which debt can be redeemed by the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph e -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentRedemptionPricePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of principal amount of debt redeemed. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Maximum amount borrowed under the credit facility at any time during the period. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=109500613&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3291-108585 + Details
Name: | us-gaap_PaymentsOfDebtIssuanceCosts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3291-108585 + Details
Name: | us-gaap_RepaymentsOfLongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The remaining balance of debt issuance expenses that were capitalized and are being amortized against income over the lives of the respective bond issues. This does not include the amounts capitalized as part of the cost of the utility plant or asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_UnamortizedDebtIssuanceExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition The amount of consent fee relating to debt. + References No definition available. + Details
Name: | vrt_ConsentFeeDebt
Namespace Prefix: | vrt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Percentage of commitment fee be paid to the lenders on the average daily unused portion. + References No definition available. + Details
Name: | vrt_CreditFacilityInterestPercentageOnUnusedDebt
Namespace Prefix: | vrt_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of legal and administrative fee relating to debt. + References No definition available. + Details
Name: | vrt_LegalAndAdministrativeFeeDebt
Namespace Prefix: | vrt_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of additional borrowing capacity currently available under the credit facility. + References No definition available. + Details
Name: | vrt_LineOfCreditFacilityAdditionalBorrowingCapacity
Namespace Prefix: | vrt_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Net leverage ratio. + References No definition available. + Details
Name: | vrt_NetLeverageRatio
Namespace Prefix: | vrt_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of loan amortize in quarterly installments per annum. + References No definition available. + Details
Name: | vrt_PercentageOfDebtAmortizeInQuarterlyInstallmentsPerAnnunm
Namespace Prefix: | vrt_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_BaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=vrt_TermLoanDue2023Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=vrt_SeniorNotesDue2024Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=vrt_PayInKindNoteDue2022Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=vrt_AblRevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=vrt_FiloTrancheMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=vrt_NotesDue2024Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |