Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 98

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 98
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. Amortization expense from finite-lived intangible assets was recorded in Depreciation and intangible amortization in the Condensed Consolidated Statements of Comprehensive Income (Loss).

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The following table reflects intangible assets net carrying amount and weighted-average remaining useful lives as of March 31, 2025 and December 31, 2024 (in millions, except for years): March 31, 2025December 31, 2024NetCarryingAmountWeighted-AverageRemainingUseful LivesNetCarryingAmountWeighted-AverageRemainingUseful LivesIntangible assets:Customer-related and contract-based intangibles$2,396 11.2$2,450 11.5Technology-related intangibles87 2.397 2.6Trade name301 11.2308 11.4Total$2,784 $2,855 Subsequent to March 31, 2025, the annual amortization expense is expected to be as follows (in millions):Customer-Relatedand Contract BasedIntangiblesTechnologyRelatedIntangiblesTradeNameIntangiblesTotal2025 (April - December)$160 $29 $21 $210 2026214 38 27 279 2027214 19 27 260 2028214 1 27 242 2029214 — 27 241 Thereafter1,380 — 172 1,552 Total amortization expense$2,396 $87 $301 $2,784 

7. Income TaxesThe Company's effective tax rates for the three months ended March 31, 2025 and 2024 were 15% and 18%, respectively. The effective tax rates for the three months ended March 31, 2025 was lower than the 21% U.S. statutory corporate income tax rate and primarily driven by the Company’s non-deductible expenses, tax credits, and changes in valuation allowance. The effective tax rates for the three months ended March 31, 2024 was lower than the 21% U.S. statutory corporate income tax rate. This difference was primarily due to the Company’s non-deductible expenses, tax credits, and changes in valuation allowance.

8. DebtDebt outstanding consisted of the following (in millions):Maturity DateMarch 31,2025December 31,2024Seventh Incremental Term Loans(1)August 31, 2028$2