Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 107

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 107
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olidated Balance Sheets InformationReceivables, netThe components of Receivables, net are as follows (in millions):December 31,2024December 31,2023Billed and unbilled receivables$480 $442 Allowance for expected credit losses(9)(7)Balance at end of period$471 $435 

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Other current assetsThe components of Other current assets are as follows (in millions):December 31,2024December 31,2023Deferred project costs$23 $20 Prepaid expenses56 48 Commissions receivable89 107 Other46 85 Total$214 $260 Other assetsThe components of Other assets are as follows (in millions):December 31,2024December 31,2023Deferred project costs$263 $240 Operating lease right of use asset42 56 Commissions receivable15 22 Other102 23 Total$422 $341 The current and non-current portions of deferred project costs relate to costs to obtain and fulfill contracts (see Note 3 “Revenue from Contracts with Customers”). Total amortization expense related to deferred project costs were $24 million, $24 million, and $20 million for the years ended December 31, 2024, 2023, and 2022, respectively, and were recorded in Cost of services, exclusive of depreciation and amortization in the accompanying Consolidated Statements of Comprehensive Income (Loss). Other current assets and Other assets include the fair value of outstanding derivative instruments related to interest rate swaps. The interest rate swap balances in Other current assets as of December 31, 2024 and December 31, 2023 were $23 million and $60 million, respectively. As of December 31, 2024 and December 31, 2023, the interest rate swap balances in Other assets also included $8 million and $17 million, respectively (see Note 13 “Derivative Financial Instruments” for additional information).  Other assets also included the Seller Note and Additional Seller Note (see Note 4 "Discontinued Operations" for additional information). As of December 31, 2024, the balances in Other assets included $37 million related to the Seller Note and $50 million from the Additional Seller Note. See Note 19 "Lease Obligations" for further information regarding the Operating lease right of use assets recorded as of December 31, 2024 and 2023