Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 21

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 21
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Income tax expense (benefit)1 15 Net Income (Loss) from Discontinued Operations, Net of Tax$(8)$5 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 March 31, 2025. As such, the Company determined it was the principal for these services and, therefore, during the three months ended March 31, 2025, the Company recorded $24 million 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):March 31,2025December 31,2024Billed and unbilled receivables$448 $480 Allowance for expected credit losses(10)(9)Balance at end of period$438 $471 

10

Other current assetsThe components of Other current assets are as follows (in millions):March 31,2025December 31,2024Deferred project costs$24 $23 Prepaid expenses46 56 Commissions receivable57 89 Other47 46 Total$174 $214 Other assetsThe components of Other assets are as follows (in millions):March 31,2025December 31,2024Deferred project costs$268 $263 Operating lease right of use asset42 42 Commissions receivable14 15 Other87 102 Total$411 $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 $6 million and $6 million for the three months ended March 31, 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 March 31, 2025 and December 31, 202