Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 134

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 134
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 Funds held on behalf of clients in a fiduciary capacity are segregated and shown in Fiduciary assets on the Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024, with a corresponding amount in Fiduciary liabilities. Fiduciary funds are not used for general corporate purposes and are not a source of liquidity for us.

The following table provides a summary of cash flows from continuing operating, investing, and financing activities for the periods presented.

 Three Months Ended March 31,(in millions)20252024Cash provided by operating activities - continuing operations$73 $92 Cash provided by (used in) investing activities - continuing operations(29)(31)Cash used for financing activities - continuing operations(176)(118)

Operating Activities 

Net cash provided by operating activities was $73 million for the three months ended March 31, 2025 as compared to $92 million for the three months ended March 31, 2024. The decrease in cash provided by operating activities was primarily due to an increase in our net working capital requirements. 

37

Investing Activities

Cash used in investing activities was $29 million for the three months ended March 31, 2025 as compared to cash used in investing activities of $31 million for the three months ended March 31, 2024. The decrease in cash used in investing activities was primarily driven by a decrease in capital expenditures. 

Financing Activities

Cash used in financing activities for the three months ended March 31, 2025 was $176 million as compared to cash used in financing activities of $118 million for the three months ended March 31, 2024. The primary drivers of cash used in financing activities for the three months ended March 31, 2025 were $100 million of TRA payments, $21 million of dividend payments, $20 million of share repurchases, a $12 million net decrease in fiduciary liabilities, $11 million of shares/units withheld in lieu of taxes, $5 million of debt repayments, and $5 million of finance lease payments. 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 March 31, 2025, our continuing operations cash and cash equivalents were $223 million, a decrease of $120 million from December 31, 2024. Of the total balances of