XML 50 R33.htm IDEA: XBRL DOCUMENT
v3.20.2

Financial Instruments and Risk Management (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
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:
| Total |  | Quoted prices in active markets for identical assets (Level 1) |  | Other observable inputs (Level 2) |  | Unobservable inputs (Level 3)
June 30, 2020 |  |  |  |  |  |  |
Tax Receivable Agreement | 133.3 |  |  | — |  |  | — |  |  | 133.3 |
Interest rate swaps | 35.5 |  |  | — |  |  | 35.5 |  |  | — |
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:
Beginning liability balance, January 1, 2020 | $ | — |  |  |
Tax receivable agreement, initially recorded | 133.4 |  |  |
Change in fair value | (0.1) |  |  |
Ending liability balance, June 30, 2020 | $ | 133.3 |  |  |
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, 2020 and December 31, 2019.
| June 30, 2020 (1) |  |  |  | December 31, 2019 |  |
| Fair Value |  | Par Value (2) |  | Fair Value |  | Par Value (2)
Term Loan due 2027 | $ | 2,079.3 |  |  | $ | 2,194.5 |  |  | $ | — |  |  | $ | — |
ABL Revolving Credit Facility due 2025 | 269.9 |  |  | 269.9 |  |  | 145.2 |  |  | 145.2 |
Short-term borrowings | 20.2 |  |  | 20.2 |  |  | — |  |  | — |
Term Loan due 2023 | — |  |  | — |  |  | 2,064.8 |  |  | 2,070.0 |
9.250% Notes due 2024 | — |  |  | — |  |  | 805.3 |  |  | 750.0 |
12.00%/13.00% Senior PIK Toggle Notes due 2022 | — |  |  | — |  |  | 517.5 |  |  | 500.0 |
10.00% Notes due 2024 | — |  |  | — |  |  | 127.5 |  |  | 120.0 |
(1)On March 2, 2020, certain subsidiaries of Vertiv Holdings Co entered into a Term Loan Credit Agreement with various financial institutions for $2,200.0 of senior secured term loans. The proceeds of the Term Loan were used to repay or redeem in full certain outstanding indebtedness. See Note 6, Debt for additional information. (2)See Note 6 — Debt for additional information

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration