Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 264

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 264
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 its reporting units exceeded the carrying value as of October 1, 2024, and therefore, goodwill was not impaired. Based on the results of the Company’s quantitative assessment, the fair value of the Health Solutions and Wealth Solutions reporting units exceeded their carrying values by 1.2% and 55.7%, respectively. A hypothetical 25-basis point increase in the discount rate or a hypothetical 50-basis point decrease in the long-term growth rate could have resulted in a goodwill impairment in the Company’s Health Solutions reporting unit of $125 million.  At December 31, 2024, our Health Solutions and Wealth Solutions reporting units had $3,084 million and $128 million of goodwill, respectively.Intangible assets by asset class are as follows (in millions):December 31, 2024December 31, 2023GrossCarryingAmountAccumulatedAmortizationNetCarryingAmountGrossCarryingAmountAccumulatedAmortizationNetCarryingAmountIntangible assets:Customer-related and contract based intangibles$3,192 $742 $2,450 $3,192 $529 $2,663 Technology related intangibles230 133 97 230 94 136 Trade name408 100 308 408 71 337 Total$3,830 $975 $2,855 $3,830 $694 $3,136 Amortization expense from finite-lived intangible assets for the years ended December 31, 2024, 2023 and 2022 was $280 million, $281 million, and $278 million, respectively. Amortization expense from finite-lived intangible assets was recorded in Depreciation and intangible amortization in the Consolidated Statements of Comprehensive Income (Loss).The following table reflects intangible assets net carrying amount and weighted-average remaining useful lives as of December 31, 2024 and December 31, 2023 (in millions, except for years): December 31, 2024December 31, 2023NetCarryingAmountWeighted-AverageRemainingUseful LivesNetCarryingAmountWeighted-AverageRemainingUseful LivesIntangible assets:Customer-related and contract-based intangibles$2,450 11.5$2,663 12.5Technology-related intangibles97 2.6136 3.5Trade name308 11.4337 12.4Total$