Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 416

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 4
Chunk 416
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 Gross Profit$904 $— $904 Gross Profit Margin34.0 %— %34.0 %Adjusted Gross Profit Margin38.8 %— %38.8 %Year Ended December 31, 2023(in millions)Employer SolutionsOtherTotalGross Profit$812 $(2)$810 Add: stock-based compensation30 — 30 Add: depreciation and amortization70 2 72 Adjusted Gross Profit$912 $— $912 Gross Profit Margin34.4 %(7.7)%33.9 %Adjusted Gross Profit Margin38.6 %— %38.2 %Year Ended December 31, 2022(in millions)Employer SolutionsOtherTotalGross Profit$687 $(1)$686 Add: stock-based compensation34 — 34 Add: depreciation and amortization47 2 49 Adjusted Gross Profit$768 $1 $769 Gross Profit Margin31.7 %(2.3)%31.1 %Adjusted Gross Profit Margin35.5 %2.3 %34.8 %

LIQUIDITY AND CAPITAL RESOURCES

Executive Summary

Our primary sources of liquidity include our existing cash and cash equivalents, cash flows from operations and availability under our revolving credit facility. Our primary uses of liquidity are operating expenses, funding of our debt requirements and capital expenditures. 

We believe that our available cash and cash equivalents, cash flows from operations and availability under our revolving credit facility will be sufficient to meet our liquidity needs, including principal and interest payments on debt obligations, capital expenditures, anticipated quarterly dividend payments, payments on our TRA and anticipated working capital requirements for the foreseeable future. We believe our liquidity position at December 31, 2024 remained strong. We will continue to closely monitor and proactively manage our liquidity position in consideration of the evolving economic outlook and changing interest rate environment.

Indebtedness

In July 2024, we paid down $440 million of the Sixth Incremental Term Loans balance and we fully repaid the principal balance of $300 million Secured Senior Notes with proceeds from the Transaction. We used the remainder of after-tax cash proceeds to return capital and for general corporate purposes, including reinvestment into growth opportunities.

40

In January 2025, the Company entered into Amendment No. 11 to Credit Agreement with a syndicate of lenders to establish a new class of Seventh Incremental