Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 96

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 96
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 credit losses(10)(9)Balance at end of period$438 $471 

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Other current assetsThe components of Other current assets are as follows (in millions):March 31,2025December 31,2024Deferred project costs$24 $23 Prepaid expenses46 56 Commissions receivable57 89 Other47 46 Total$174 $214 Other assetsThe components of Other assets are as follows (in millions):March 31,2025December 31,2024Deferred project costs$268 $263 Operating lease right of use asset42 42 Commissions receivable14 15 Other87 102 Total$411 $422 The current and non-current portions of deferred project costs relate to costs to obtain and fulfill contracts (see Note 3 “Revenue from Contracts with Customers”). Total amortization expense related to deferred project costs was $6 million and $6 million for the three months ended March 31, 2025 and 2024, respectively, and were recorded in Cost of services, exclusive of depreciation and amortization in the accompanying Condensed Consolidated Statements of Comprehensive Income (Loss). Other current assets and Other assets include the fair value of outstanding derivative instruments related to interest rate swaps. The interest rate swap balances in Other current assets as of March 31, 2025 and December 31, 2024 were $17 million and $23 million, respectively. As of March 31, 2025 and December 31, 2024, the interest rate swap balances in Other assets also included $4 million and $8 million, respectively (see Note 13 “Derivative Financial Instruments” for additional information). As of March 31, 2025 and December 31, 2024, the balances in Other assets included $38 million and $37 million, respectively related to the Seller Note and $36 million and $50 million, respectively related to the Additional Seller Note (see Note 4 "Discontinued Operations" for additional information).Other current liabilitiesThe components of Other current liabilities are as follows (in millions):March 31,2025December 31,2024Deferred revenue$91 $91 Operating lease liabilities17 17 Finance lease liabilities21 19 Other229 146 Total$358 $273 

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Other liabilitiesThe components of Other liabilities are as follows (in millions):March 31,2025December 31,2024