Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 44

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 44
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, 2024, respectively. The Company believes the carrying value of the Seller Note approximates its fair value as of March 31, 2025 based on its stated interest rate and maturity date. See Note 4 "Discontinued Operations" for additional information.During each of the three months ended March 31, 2025 and 2024, there were no transfers in or out of the Level 1, Level 2 or Level 3 classifications.

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17. RestructuringTransformation ProgramOn February 20, 2023, the Company approved a two-year strategic transformation restructuring program (the “Transformation Program”) intended to accelerate the Company’s back-office infrastructure into the cloud and transform its operating model leveraging technology in order to reduce its overall future costs. The Transformation Program includes process and system optimization, third party costs associated with technology infrastructure transformation, and elimination of full-time positions. From the inception of the plan through March 31, 2025, the Company incurred total expenses of $140 million, and the plan was substantially complete as of March 31, 2025. These charges were recorded in Selling, general and administrative expenses in the Condensed Consolidated Statements of Comprehensive Income (Loss). The following table summarizes restructuring costs by type (in millions):Three Months Ended March 31, 2025Three Months Ended March 31, 2024TotalCostEmployer SolutionsSeverance and Related Benefits$1 $2 $10 Other Restructuring Costs(1)1 11 79 Total Employer Solutions$2 $13 $89 CorporateSeverance and Related Benefits$1 $2 $35 Other Restructuring Costs(1)1 — 16 Total Corporate$2 $2 $51 Total Restructuring Costs$4 $15 $140 (1)Other restructuring costs associated with the Transformation Program primarily include data center exit costs, third party fees associated with the restructuring, and costs associated with transitioning existing technology and processes.As of March 31, 2025, approximately $11 million of the Company's total restructuring liability was unpaid and recorded in Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets. Severance and Related Benefits Other Restructuring Costs Total In millionsAccrued restructuring liability as of December 31, 2024$12 $— $12 Restructuring charges2 2 4 Cash payments(4)(1)(5)Accru