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Financial Instruments and Risk Management (as restated) (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Summary of Financial Instruments Recognized at Fair Value | 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:
| Total |  | Quoted prices in active markets for identical assets (Level 1) |  | Other observable inputs (Level 2) |  | Unobservable inputs (Level 3)
December 31, 2020 |  |  |  |  |  |  |
Tax Receivable Agreement | 155.6 |  |  | — |  |  | — |  |  | 155.6 |
Interest rate swaps | 32.8 |  |  | — |  |  | 32.8 |  |  | — |
Public Warrants | 68.5 |  |  | 68.5 |  |  | — |  |  | — |
Private Placement Warrants | 87.7 |  |  | — |  |  | 87.7 |  |  | — |
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 | 22.2 |  |  |  |
Ending liability balance, December 31, 2020 | $ | 155.6 |  |  |  |
Fair Value Measurement Inputs and Valuation Techniques | The significant assumptions which the Company used in the model are:
Private Placement Warrant valuation inputs |  | December 31, 2020 (as restated)
Stock price |  | $ | 18.67 |
Strike price |  | $ | 11.50 |
Remaining life |  | 4.10
Volatility |  | 30.6 | %
Interest rate (1) |  | 0.27 | %
Dividend yield (2) |  | 0.05 | %
1) - Interest rate determined from a constant maturity treasury yield (2) - March 31, 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 December 31, 2020 and December 31, 2019.
| December 31, 2020 (1) |  | December 31, 2019
| Fair Value |  | Par Value (2) |  | Fair Value |  | Par Value (2)
Term Loan due 2027 | $ | 2,169.9 |  |  | $ | 2,183.5 |  |  | $ | — |  |  | $ | — |
ABL Revolving Credit Facility due 2025 | — |  |  | — |  |  | 145.2 |  |  | 145.2 |
Term Loan due 2023 | — |  |  | — |  |  | 2,064.8 |  |  | 2,070.0 |
9.25% 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 and pay certain fees and expenses. See Note 5, Debt for additional information. (2)See Note 5 — Debt for additional information

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + 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 (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- 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
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- 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
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- 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
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