Company: ALIT
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001809104-25-000062
Chunk: 201

Company: Alight, Inc. / Delaware
Filing Date: 2025-02-27
Form: 10-K
Item: Item 3
Chunk 201
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 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 $925 Cost of services, exclusive of depreciation and amortization425 684 608 Depreciation and amortization3 10 7 Gross Profit149 330 310 Operating ExpensesSelling, general and administrative89 164 192 Depreciation and intangible amortization8 38 38 Goodwill Impairment— 148 — Total Operating Expenses97 350 230 Income (loss) from Discontinued Operations52 (20)80 Interest expense— — 1 Other (income) expense, net2 9 (4)Income (Loss) from Discontinued Operations Before Income Taxes50 (29)83 Loss on sale of disposition, net of tax10 — — Income tax expense (benefit)59 16 15 Net Income (Loss) from Discontinued Operations, Net of Tax$(19)$(45)$68 During the year ended December 31, 2023, in connection with a strategic portfolio review, we identified and recorded a $148 million non-cash goodwill impairment charge related to our former Cloud Services reporting unit which was subsequently sold as part of the Divested Business. As such, the Company reported the $148 million charge as discontinued operations. The Company concluded that it controlled a portion of the Divested Business services subsequent to separation as a result of certain shared contractual relationships that had not been legally assigned as of December 31, 2024. As such, the Company determined it was the principal for these services and, therefore, during the year ended December 31, 2024, the Company recorded $71 million of Revenue