$ALIT

Alight, Inc. / Delaware

CIK:0001809104|SEC Filings

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 511	$ 528	$ 1,045	$ 1,076
Cost of services, exclusive of depreciation and amortization	337	325	684	676
Depreciation and amortization	32	27	63	53
Gross Profit	142	176	298	347
Operating Expenses
Selling, general and administrative	109	130	214	234
Depreciation and Intangible Amortization	73	73	146	148
Goodwill impairment	0	983	0	983
Total Operating expenses	182	1,186	360	1,365
Operating Income (Loss) From Continuing Operations	(40)	(1,010)	(62)	(1,018)
Other (Income) Expense
(Gain) Loss from change in fair value of financial instruments	0	28	0	20
(Gain) Loss from change in fair value of tax receivable agreement	(46)	23	(65)	32
Interest expense	24	22	48	44
Other (income) expense, net	1	(7)	0	(18)
Total Other (income) expense, net	(21)	66	(17)	78
Income (Loss) From Continuing Operations Before Taxes	(19)	(1,076)	(45)	(1,096)
Income tax expense (benefit)	(9)	(3)	(16)	(6)
Net Income (Loss) From Continuing Operations	(10)	(1,073)	(29)	(1,090)
Net Income (Loss) From Discontinued Operations, Net of Tax	0	(1)	0	(9)
Net Income (Loss)	(10)	(1,074)	(29)	(1,099)
Net income (loss) attributable to noncontrolling interests	0	(1)	0	(1)
Net Income (Loss) Attributable to Alight, Inc.	$ (10)	$ (1,073)	$ (29)	$ (1,098)
Basic and Diluted
Continuing operations, basic (in dollars per share)	$ (0.38)	$ (40.57)	$ (1.10)	$ (41.06)
Continuing operations, diluted (in dollars per share)	(0.38)	(40.57)	(1.10)	(41.06)
Discontinued operations, basic (in dollars per share)	0	(0.04)	0	(0.34)
Discontinued operations, diluted (in dollars per share)	0	(0.04)	0	(0.34)
Net income (loss), basic (in dollars per share)	(0.38)	(40.61)	(1.10)	(41.40)
Net income (loss), diluted (in dollars per share)	$ (0.38)	$ (40.61)	$ (1.10)	$ (41.40)
Net Income (Loss)	$ (10)	$ (1,074)	$ (29)	$ (1,099)
Other comprehensive income (loss), net of tax:
Change in fair value of derivatives	(1)	(5)	0	(13)
Foreign currency translation adjustments	0	0	(2)	0
Total Other comprehensive income (loss), net of tax:	(1)	(5)	(2)	(13)
Comprehensive Income (Loss) Before Noncontrolling Interests	(11)	(1,079)	(31)	(1,112)
Comprehensive income (loss) attributable to noncontrolling interests	0	(1)	0	(1)
Comprehensive Income (Loss) Attributable to Alight, Inc.	$ (11)	$ (1,078)	$ (31)	$ (1,111)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net Income (Loss) From Continuing Operations	$ (29)	$ (1,090)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	69	60
Intangible asset amortization	140	141
Noncash lease expense	4	5
Financing fee and premium amortization	1	1
Share-based compensation expense	11	11
(Gain) loss from change in fair value of financial instruments	0	20
(Gain) Loss from change in fair value of tax receivable agreement	(65)	32
Deferred tax expense (benefit)	(16)	(8)
Goodwill impairment	0	983
Other	7	11
Changes in operating assets and liabilities:
Accounts receivable	47	60
Accounts payable and accrued liabilities	(28)	(76)
Other assets and liabilities	11	9
Cash provided by operating activities - continuing operations	152	159
Cash provided by operating activities - discontinued operations	0	0
Net cash provided by operating activities	152	159
Investing activities:
Capital expenditures	(51)	(57)
Cash provided by (used in) investing activities - continuing operations	(51)	(57)
Cash used in investing activities - discontinued operations	0	0
Net cash provided by (used in) investing activities	(51)	(57)
Financing activities:
Dividend payments	(1)	(43)
Net increase (decrease) in fiduciary liabilities	(15)	(24)
Repayments to banks	(10)	(10)
Principal payments on finance lease obligations	(9)	(12)
Payments on tax receivable agreements	(136)	(100)
Tax payment for shares/units withheld in lieu of taxes	(1)	(11)
Repurchase of shares	0	(40)
Other financing activities	(1)	(2)
Cash used in financing activities - continuing operations	(173)	(242)
Cash provided by (used in) financing activities - discontinued operations	0	0
Net Cash provided by (used in) financing activities	(173)	(242)
Effect of exchange rate changes on cash, cash equivalents and restricted cash - continuing operations	(1)	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash - discontinued operations	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	(73)	(140)
Cash, cash equivalents and restricted cash balances from:
Continuing operations - beginning of year	521	582
Discontinued operations - beginning of year	0	0
Less discontinued operations - end of period	0	0
Continuing operations - end of period	448	442
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets
Cash and cash equivalents	215	227
Restricted cash included in fiduciary assets	233	215
Total cash, cash equivalents and restricted cash	448	442
Supplemental disclosure of non-cash investing and financing activities:
Fixed asset additions acquired through finance leases	7	6
Right of use asset additions acquired through operating leases	$ 7	$ 9

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 215	$ 273
Receivables, net	340	387
Other current assets	185	234
Fiduciary assets	233	248
Total Current Assets	973	1,142
Goodwill	83	83
Intangible assets, net	2,433	2,573
Fixed assets, net	355	378
Deferred tax assets, net	32	15
Other assets	392	377
Total Assets	4,268	4,568
Current Liabilities
Accounts payable and accrued liabilities	225	253
Current portion of long-term debt, net	20	20
Other current liabilities	205	353
Fiduciary liabilities	233	248
Total Current Liabilities	683	874
Deferred tax liabilities	15	14
Long-term debt, net	1,976	1,985
Long-term tax receivable agreement	443	508
Other liabilities	125	141
Total Liabilities	3,242	3,522
Commitments and Contingencies
Stockholders' Equity
Preferred stock at $0.0001 par value: 1.0 shares authorized, none issued and outstanding	0	0
Treasury stock, at cost (2.1 and 2.1 shares at June 30, 2026 and December 31, 2025, respectively)	(284)	(284)
Additional paid-in-capital	5,076	5,065
Accumulated deficit	(3,786)	(3,757)
Accumulated other comprehensive income	18	20
Total Alight, Inc. Stockholders' Equity	1,024	1,044
Noncontrolling interest	2	2
Total Stockholders' Equity	1,026	1,046
Total Liabilities and Stockholders' Equity	4,268	4,568
Class A Common Stock
Stockholders' Equity
Common stock	0	0
Class B Common Stock
Stockholders' Equity
Common stock	0	0
Class V Common Stock
Stockholders' Equity
Common stock	0	0
Class Z Common Stock
Stockholders' Equity
Common stock	$ 0	$ 0