Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 170

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 170
---
. The Seller Note had a carrying value of $37 million as of December 31, 2024. The Company believes the carrying value of the Seller Note approximates its fair value as of December 31, 2024 based on its stated interest rate and maturity date.During each of the years ended December 31, 2024 and 2023, there were no transfers in or out of the Level 1, Level 2 or Level 3 classifications.

17. RestructuringTransformation ProgramOn February 20, 2023, the Company approved a two-year strategic transformation restructuring program (the “Transformation Program”) intended to accelerate the Company’s back-office infrastructure into the cloud and transform its operating model leveraging technology in order to reduce its overall future costs. The Transformation Program includes process and system optimization, third party costs associated with technology infrastructure transformation, and elimination of full-time positions. From the inception of the plan through December 31, 2024, the Company incurred total expenses of $136 million, and the plan is substantially complete. These charges were recorded in Selling, general and administrative expenses in the Consolidated Statements of Comprehensive Income (Loss). 

86

The following table summarizes restructuring costs by type (in millions):Year Ended December 31, 2024Year Ended December 31, 2023EstimatedRemainingCostsTotalCostEmployer SolutionsSeverance and Related Benefits$4 $5 $— $9 Other Restructuring Costs(1)27 51 — 78 Total Employer Solutions$31 $56 $— $87 CorporateSeverance and Related Benefits$19 $15 $— $34 Other Restructuring Costs(1)13 2 — 15 Total Corporate$32 $17 $— $49 Total Restructuring Costs$63 $73 $— $136 (1)Other restructuring costs associated with the Transformation Program primarily include data center exit costs, third party fees associated with the restructuring, and costs associated with transitioning existing technology and processes.As of December 31, 2024, approximately $12 million of the Company's total restructuring liability was unpaid and recorded in Accounts payable and accrued liabilities on the Consolidated Balance Sheets. Severance and Related Benefits Other Restructuring Costs Total In millionsAccrued restructuring liability as of December 31, 2023$6 $1 $7 Restructuring charges23 40 63 Cash