Company: ALIT
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049916
Chunk: 18

Company: Alight, Inc. / Delaware
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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 financing activities - continuing operations(288)(1,028)

Operating Activities 

Net cash provided by operating activities was $236 million for the nine months ended September 30, 2025 as compared to $75 million for the nine months ended September 30, 2024. The increase in cash provided by operating activities was primarily due to lower professional fees incurred related to the sale and separation of the Divested Business and changes in our net working capital requirements. 

Investing Activities

Cash used in investing activities was $98 million for the nine months ended September 30, 2025 as compared to cash provided by investing activities of $877 million for the nine months ended September 30, 2024. The increase in cash used in investing activities was primarily driven by the net proceeds from the sale of the Divested Business in the prior year period, partially offset by lower capital expenditures. 

Financing Activities

Cash used in financing activities for the nine months ended September 30, 2025 was $288 million as compared to cash used in financing activities of $1,028 million for the nine months ended September 30, 2024. The primary drivers of cash used in financing activities for the nine months ended September 30, 2025 were $100 million of TRA payments, $65 million of dividend payments, $65 million of share repurchases, $17 million of finance lease payments, $15 million of debt repayments, a $12 million net decrease in fiduciary liabilities, and $12 million of shares/units withheld in lieu of taxes. The decrease in fiduciary cash was primarily due to timing of client funding and subsequent disbursement of payments.

Cash, Cash Equivalents and Fiduciary Assets

At September 30, 2025, our continuing operations cash and cash equivalents were $205 million, a decrease of $138 million from December 31, 2024. Of the total balances of cash and cash equivalents as of September 30, 2025 and December 31, 2024, none of the balances were restricted as to use.

Some of our client agreements require us to hold funds on behalf of clients to pay obligations on their behalf. The levels of Fiduciary assets and liabilities can fluctuate significantly, depending on when we collect the amounts from clients 

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and make payments on their behalf. Such funds are not available to service our debt or for other corporate purposes. There is typically a short period of time between when the Company receives funds and