Company: ALIT
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037820
Chunk: 69

Company: Alight, Inc. / Delaware
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 and Administrative expenses excludes restructuring, stock based compensation and depreciation and intangible amortization and primarily include compensation-related costs for administrative and management employees, system and facilities expense, and costs for external professional and consulting services. (5) - Other segment items - includes gain/loss from change in fair value of financial instruments, gain/loss from change in fair value of tax receivable agreement, other (income) expense, net and income taxes. There was no single client who accounted for more than 10% of the Company’s revenues in any of the periods presented.

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13. Derivative Financial InstrumentsThe Company is exposed to market risks, including changes in interest rates. To manage the risk related to these exposures, the Company has entered into various derivative instruments that reduce these risks by creating offsetting exposures.Interest Rate SwapsThe Company has utilized swap agreements that will fix the floating interest rates associated with its Term Loan as shown in the following table: Designation DateEffective DateInitial Notional AmountNotional Amount Outstanding as of June 30, 2025Fixed RateExpiration DateDecember 2021April 2024$871,205,040 $599,526,345 1.6533 %June 2025December 2021April 2024$435,602,520 $299,763,173 1.6560 %June 2025December 2021April 2024$435,602,520 $299,763,173 1.6650 %June 2025March 2022June 2025$1,197,000,000 $1,197,000,000 2.5540 %December 2026March 2023March 2023$150,000,000 $150,000,000 3.9025 %December 2026March 2023March 2023$150,000,000 $150,000,000 3.9100 %December 2026During the six months ended June 30, 2025, we did not execute any new interest rate swaps. Our interest rate swaps have been designated as cash flow hedges.Financial Instrument PresentationThe fair values and location of outstanding derivative instruments recorded in the Condensed Consolidated Balance Sheets are as follows (in millions):June 30,2025December 31,2024AssetsOther current assets$12 $23 Other assets2 8 Total$14 $31