Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 75

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 75
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 measures differently, limiting its usefulness as a comparative measure. 

Adjusted Net Income From Continuing Operations and Adjusted Diluted Earnings Per Share From Continuing Operations

Adjusted Net Income From Continuing Operations, which is defined as net income (loss) from continuing operations attributable to Alight, Inc., adjusted for intangible amortization and the impact of certain non-cash items that we 

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do not consider in the evaluation of ongoing operational performance, is a non-GAAP financial measure used solely for the purpose of calculating Adjusted Diluted Earnings Per Share From Continuing Operations.

Adjusted Diluted Earnings Per Share From Continuing Operations is defined as Adjusted Net Income From Continuing Operations divided by the adjusted weighted-average number of shares of common stock, diluted. The adjusted weighted shares calculation assumes the full exchange of the non-controlling interest units and the full amount of non-vested time-based restricted units that were determined to be antidilutive and therefore excluded from the U.S. GAAP diluted earnings per share. Adjusted Diluted Earnings Per Share From Continuing Operations, including the adjusted weighted-average number of shares, is used by us and our investors to evaluate our core operating performance and to benchmark our operating performance against our competitors.

A reconciliation of Adjusted Net Income (Loss) From Continuing Operations and the computation of Adjusted Diluted Earnings Per Share From Continuing Operations is as follows:

Year Ended December 31,(in millions, except share and per share amounts)202420232022Numerator:Net Income (Loss) From Continuing Operations Attributable to Alight, Inc. (1)$(138)$(300)$(130)Conversion of noncontrolling interest(2)(17)(10)Intangible amortization280 281 278 Share-based compensation76 139 164 Transaction and integration expenses (2)82 29 19 Restructuring63 73 46 (Gain) Loss from change in fair value of financial instruments(57)10 (38)(Gain) Loss from change in fair value of tax receivable agreement34 118 (41)Other8 1 (1)Tax effect of adjustments (3)(85)(100)(109)Adjusted Net Income From Continuing Operations$261 $234 $178 Denominator:Weighted average shares outstanding - basic539,861,208489,461,259458,558,192Dilutive effect of the exchange of noncontrolling interest units510,237——Dilutive effect of RSUs———Weighted