Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 258

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 5
Chunk 258
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, net of tax, was recorded for the year ended December 31, 2024 upon closing of the sale and reflects the impact of net proceeds received less cost to sell over the carrying value of the Divested Business net assets. Post-closing selling price adjustments and completion of other Purchase Agreement provisions in connection with the sale could result in further adjustments to the gain or loss on sale amount which could be material.The following tables presents the carrying value of assets and liabilities for the Divested Business as presented within assets and liabilities of discontinued operations on our Consolidated balance sheets and results as reported in Income (Loss) from Discontinued Operations, Net of Tax, within our Consolidated Statements of comprehensive Income (Loss) (in millions):December 31,2024December 31,2023AssetsCash and cash equivalents$— $34 Receivables, net— 263 Other current assets— 59 Fiduciary assets— 1,167 Current assets, discontinued operations— 1,523 Goodwill— 331 Intangible assets, net— 418 Fixed assets, net— 40 Deferred tax assets, net— 3 Other assets— 156 Long-term assets, discontinued operations$— $948 LiabilitiesAccounts payable and accrued liabilities$— $119 Other current liabilities— 84 Fiduciary liabilities— 1,167 Current liabilities, discontinued operations— 1,370 Other liabilities— 68 Long-term liabilities, discontinued operations$— $68 

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Year Ended December 31,202420232022Revenue$577 $1,024 $925 Cost of services, exclusive of depreciation and amortization425 684 608 Depreciation and amortization3 10 7 Gross Profit149 330 310 Operating ExpensesSelling, general and administrative89 164 192 Depreciation and intangible amortization8 38 38 Goodwill Impairment— 148 — Total Operating Expenses97 350 230 Income (loss) from Discontinued Operations52 (20)80 Interest expense— — 1 Other (income) expense, net2 9 (4)Income (Loss) from Discontinued Operations Before Income Taxes50 (29)83 Loss on sale of disposition, net of tax10 — — Income tax expense (benefit)59 16 15 Net