Alight, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Alight, Inc. has filed its 2023 10-K annual report, detailing its financial performance and operational aspects for the fiscal year ending December 31, 2023.</b>

AI Summary

Alight, Inc. / Delaware (ALIT) filed a Annual Report (10-K) with the SEC on February 29, 2024. Alight, Inc. filed its annual report on Form 10-K for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 4 Overlook Point, Lincolnshire, IL 60069. Alight, Inc. was incorporated in Delaware. The filing includes information related to various financial instruments and equity components, such as interest rate swaps, restricted stock units, and common stock classes.

Why It Matters

For investors and stakeholders tracking Alight, Inc. / Delaware, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Alight's financial health, operational results, and strategic positioning for the past fiscal year, which is crucial for investors to assess the company's performance and future prospects. The detailed financial disclosures within the 10-K are essential for understanding Alight's revenue streams, expenses, assets, liabilities, and any significant changes or trends that may impact its market valuation and investment potential.

Risk Assessment

Risk Level: medium — Alight, Inc. / Delaware shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative developments beyond the typical reporting cycle, thus warranting a medium risk assessment.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-K to understand Alight's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-29 — Filing Date (As of date)
• 130 — Public Document Count (Number of documents in the filing)
• 7389 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Alight, Inc. (company) — Filer name
• Delaware (company) — State of incorporation
• 4 Overlook Point, Lincolnshire, IL 60069 (company) — Business address
• 7389 (regulator) — Standard Industrial Classification Code
• 001-39299 (regulator) — SEC file number
• 24703012 (regulator) — Film number
• Alight Group, Inc. (company) — Former company name
• Foley Trasimene Acquisition Corp. (company) — Former company name

FAQ

Industry Context

Alight, Inc. operates in the business services sector, providing solutions related to health, wealth, and wellbeing for employers. The company's services are critical for managing employee benefits and engagement.

Regulatory Implications

As a publicly traded company, Alight, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of annual reports on Form 10-K.

What Investors Should Do

1. Review Alight's financial statements for the fiscal year ended December 31, 2023.
2. Analyze the risk factors section for potential business and financial challenges.
3. Examine any disclosures regarding executive compensation or significant corporate events.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the period ending December 31, 2023. Previous filings would have been for different periods or forms.

Key Financial Figures

• $0.0001 — tered Class A Common Stock, par value $0.0001 per share ALIT New York Stock Excha

Filing Documents

• alit-20231231.htm (10-K) — 5015KB
• alit-ex21_1.htm (EX-21.1) — 78KB
• alit-ex23_1.htm (EX-23.1) — 4KB
• alit-ex31_1.htm (EX-31.1) — 15KB
• alit-ex31_2.htm (EX-31.2) — 15KB
• alit-ex32_1.htm (EX-32.1) — 10KB
• alit-ex32_2.htm (EX-32.2) — 10KB
• alit-ex97_1.htm (EX-97.1) — 43KB
• alit-ex99_1.htm (EX-99.1) — 5KB
• img252786453_0.jpg (GRAPHIC) — 82KB
• 0000950170-24-022978.txt (&nbsp;) — 23029KB
• alit-20231231.xsd (EX-101.SCH) — 2669KB
• alit-20231231_htm.xml (XML) — 5474KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 25 Item 2.

Properties

Properties 26 Item 3.

Legal Proceedings

Legal Proceedings 26 Item 4. Mine Safety Disclosures 26 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 Item 6. [Reserved] 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F- 1 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure F- 44 Item 9A.

Controls and Procedures

Controls and Procedures F- 44 Item 9B. Other Information F- 47 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections F- 47 PART III Item 10. Directors, Executive Officers and Corporate Governance F- 48 Item 11.

Executive Compensation

Executive Compensation F- 48 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters F- 48 Item 13. Certain Relationships and Related Transactions, and Director Independence F- 48 Item 14. Principal Accountant Fees and Services F- 48 PART IV Item 15. Exhibit and Financial Statement Schedules F- 49 Item 16 Form 10-K Summary F- 51 i Explanato ry Note This Annual Report on Form 10-K (the "Annual Report") includes information pertaining to periods prior to the closing of the Business Combination (as defined in "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations"). Refer to Note 1 "Basis of Presentation and Nature of Business" to our consolidated financial statements included in this Annual Report for the year ended December 31, 2023 for further information regarding the basis of presentation. Disclaimer Regarding Forward-Looking Statements This Annual Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements include, but are not limited to, statements that relate to expectations regarding future financial performance, and business strategies or expectations for our business, or our strategic portfolio review. Forward-looking statements can often be identified by the use of words such as "anticipate," "appear," "approximate," "believe," "continue," "could," "estimate," "expect," "foresee," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "seek," "should," "would" or similar expressions or the negative thereof. These forward-looking statements are based on information available as of the date of this report and the Company's management's current expectations, forecasts and assumptions, and involve a number of judgments, known and unknown risks and uncertainties and othe

. Business

Item 1 . Business. Throughout this section, references to "we," "us," and "our" refer to Alight and its consolidated subsidiaries as the context so requires. Alight delivers human capital management solutions to many of the world's largest and most complex companies. This includes the implementation and administration of both employee wellbeing (e.g. health, wealth and leaves benefits) and global payroll solutions. In addition, the Company implements and runs human capital management software platforms on behalf of third-party providers. Alight's numerous solutions and services are utilized year-round by employees and their family members in support of their overall health, wealth and wellbeing goals. Participants can access their solutions digitally, including through a mobile application on Alight Worklife , our intuitive, cloud-based employee engagement platform. Through Alight Worklife, the Company believes it is defining the future of employee wellbeing by providing an enterprise level, integrated offering designed to drive better outcomes for organizations and individuals. We aim to be the pre-eminent employee experience partner by providing personalized experiences that help employees make the best decisions for themselves and their families about their health, wealth and wellbeing. At the same time, we help employers tackle their biggest people and business challenges by helping them understand prevalence, trends and risks to generate better outcomes for the future, such as improved employee productivity and retention, while also realizing a return on their people investment. Our data, analytics and AI allow us to deliver actionable insights that drive measurable outcomes, such as healthcare claims savings, for companies and their people. We provide solutions to manage health and retirement benefits, tools for payroll and HR management, as well as solutions to manage the workforce from the cloud. Principal Services and Segments We currently operate

View Full Filing

View this 10-K filing on SEC EDGAR