Company: ALIT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037820
Chunk: 49

Company: Alight, Inc. / Delaware
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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11

Other current assetsThe components of Other current assets are as follows (in millions):June 30,2025December 31,2024Deferred project costs$25 $23 Prepaid expenses42 56 Commissions receivable41 89 Other52 46 Total$160 $214 Other assetsThe components of Other assets are as follows (in millions):June 30,2025December 31,2024Deferred project costs$273 $263 Operating lease right of use asset40 42 Commissions receivable13 15 Other53 102 Total$379 $422 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 was $7 million and $6 million for the three months ended June 30, 2025 and 2024, respectively, and was $13 million and $12 million for the six months ended June 30, 2025 and 2024, respectively, and were recorded in Cost of services, exclusive of depreciation and amortization in the accompanying Condensed 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 June 30, 2025 and December 31, 2024 were $12 million and $23 million, respectively. As of June 30, 2025 and December 31, 2024, the interest rate swap balances in Other assets were $2 million and $8 million, respectively (see Note 13 “Derivative Financial Instruments” for additional information). As of June 30, 2025 and December 31, 2024, the balances in Other assets included $40 million and $37 million, respectively, related to the Seller Note. As of June 30, 2025 and December 31, 2024, the balance in Other assets also included the fair value of the Additional Seller Note of zero and $50 million, respectively (see Note 4 "Discontinued Operations" and Note 14 "Financial Instruments" for additional information).Other current liabilitiesThe components of Other current liabilities are as follows (in millions):June 30,2025December 31,2024Deferred revenue$86 $91 Operating lease liabilities18 17 Finance lease liabilities