Company: ALIT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037820
Chunk: 48

Company: Alight, Inc. / Delaware
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 the Divested Business net assets. The following table presents the results as reported in Income (Loss) from Discontinued Operations, Net of Tax, within our Condensed Consolidated Statements of Comprehensive Income (Loss) (in millions):Three Months EndedJune 30,Six Months Ended June 30,2025202420252024Revenue$13 $249 $37 $506 Cost of services, exclusive of depreciation and amortization13 167 37 354 Depreciation and amortization— — — 3 Gross Profit— 82 — 149 Operating ExpensesSelling, general and administrative— 52 — 89 Depreciation and intangible amortization— — — 8 Goodwill Impairment— — — — Total Operating Expenses— 52 — 97 Income (loss) from Discontinued Operations— 30 — 52 Interest expense— — — — Other (income) expense, net— — — 2 Income (Loss) from Discontinued Operations Before Income Taxes— 30 — 50 Loss on sale of disposition, net of tax1 — 8 — Income tax expense (benefit)— 3 1 18 Net Income (Loss) from Discontinued Operations, Net of Tax$(1)$27 $(9)$32 The Company concluded that it controlled a portion of the Divested Business services subsequent to separation as a result of certain shared contractual relationships that had not been legally assigned as of June 30, 2025. As such, the Company determined it was the principal for these services and, therefore, during the three and six months ended June 30, 2025, the Company recorded $13 million and $37 million, respectively, of Revenue and Cost of services on a gross basis within discontinued operations in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss).The expense amounts reflected above represent only the direct costs attributable to the Divested Business and excludes allocations of corporate costs retained following the sale.

5. Other Financial DataCondensed Consolidated Balance Sheets InformationReceivables, netThe components of Receivables, net are as follows (in millions):June 30,2025December 31,2024Billed and unbilled receivables$420 $480 Allowance for expected credit losses(9)(9)Balance at end of period$411 $471