Company: ALIT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037820
Chunk: 53

Company: Alight, Inc. / Delaware
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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)%, respectively. The Company's effective tax rates for the six months ended June 30, 2025 and 2024 were 1% and 17%, respectively. The effective tax rates for each of the three and six months ended June 30, 2025 were lower than the 21% U.S. statutory corporate income tax rate and primarily driven by the Company’s non-deductible expenses, tax credits, changes in valuation allowance, and certain non-recurring items including non-deductible goodwill impairment. The 

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effective tax rates for each of the three and six months ended June 30, 2024 were lower than the 21% U.S. statutory corporate income tax rate, 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 DateJune 30,2025December 31,2024Seventh Incremental Term Loans(1)August 31, 2028$2,015 $— Sixth Incremental Term Loans(2)August 31, 2028— 2,025 $330 million Revolving Credit Facility, AmendedMay 31, 2030— — Total debt, net2,015 2,025 Less: current portion of long-term debt, net(20)(25)Total long-term debt, net$1,995 $2,000 _______________________________________________________(1)The net balance for the Seventh Incremental Term Loans included unamortized debt issuance costs at June 30, 2025 of approximately $6 million. (2)The net balance for the Sixth Incremental Term Loans included unamortized debt issuance costs at December 31, 2024 of approximately $6 million. Term Loan In June 2024, the Company entered into Amendment No. 10 to its credit agreement, dated as of May 1, 2017 (as amended from time to time, the “Credit Agreement”), with a syndicate of lenders to establish a new class of Sixth Incremental Term Loans (the “Sixth Incremental Term Loans”) with an aggregate principal amount of $2,489 million to reprice the outstanding Fifth Incremental Term Loans due August 31, 2028 by reducing the applicable rate from the Secured Overnight Financing Rate ("SOFR") + 2.75% to SOFR + 2.25%.In