Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 259

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 5
Chunk 259
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 Income (Loss) from Discontinued Operations, Net of Tax$(19)$(45)$68 During the year ended December 31, 2023, in connection with a strategic portfolio review, we identified and recorded a $148 million non-cash goodwill impairment charge related to our former Cloud Services reporting unit which was subsequently sold as part of the Divested Business. As such, the Company reported the $148 million charge as discontinued operations. 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 December 31, 2024. As such, the Company determined it was the principal for these services and, therefore, during the year ended December 31, 2024, the Company recorded $71 million of Revenue and Cost of services on a gross basis within discontinued operations in the accompanying Consolidated Statements of Comprehensive Income (Loss).The additional income tax expense of $41 million recorded for the year ended December 31, 2024 was due to application of the dual consolidated loss rules as a result of the filing of the federal tax return during the interim period. The application of the dual consolidated loss rule was impacted by the sale of the Divested Business, which disallowed foreign losses previously elected.The expense amounts reflected above represent only the direct costs attributable to the Divested Business and excludes allocations of corporate costs that will be retained following the sale.