Alight, Inc. Files Q2 2024 10-Q
Ticker: ALIT · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1809104
Sentiment: neutral
Topics: 10-Q, financials, sec-filing
TL;DR
Alight's Q2 2024 10-Q is in. Check financials.
AI Summary
Alight, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities and strategic positioning.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of Alight, Inc., crucial for understanding its current market standing and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures for public companies, but the specific financial details and any disclosed risks within the report can significantly impact investor perception.
Key Numbers
- 2024 Q2 — Reporting Period (Financials cover the second quarter of 2024.)
- 1231 — Fiscal Year End (Indicates the end of the company's fiscal year.)
Key Players & Entities
- Alight, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240806 (date) — Filing date
- Lincolnshire, IL (location) — Company headquarters
FAQ
What were Alight, Inc.'s total assets as of June 30, 2024?
The filing indicates current assets of $459 and non-current assets of $456, with current liabilities of $356 and non-current liabilities of $389. Specific total asset figures are not directly provided in this excerpt.
When was Alight, Inc. formerly known as Foley Trasimene Acquisition Corp.?
The date of name change from Foley Trasimene Acquisition Corp. to Alight Group, Inc. was 20200410.
What is the SEC file number for Alight, Inc.'s 1934 Act filings?
The SEC file number is 001-39299.
What is the SIC code for Alight, Inc.?
The Standard Industrial Classification code is 7389, categorized under SERVICES-BUSINESS SERVICES, NEC.
What is the primary business address for Alight, Inc.?
The business address is 4 Overlook Point, Lincolnshire, IL 60069.
Filing Stats: 4,783 words · 19 min read · ~16 pages · Grade level 15.9 · Accepted 2024-08-06 16:12:35
Key Financial Figures
- $0.0001 — stered Class A Common Stock, par value $0.0001 per share ALIT New York Stock Exchange
Filing Documents
- alit-20240630.htm (10-Q) — 1773KB
- exhibit101-formofspecialtr.htm (EX-10.1) — 16KB
- alit-20240630xex311.htm (EX-31.1) — 10KB
- alit-20240630xex312.htm (EX-31.2) — 10KB
- alit-20240630xex321.htm (EX-32.1) — 6KB
- alit-20240630xex322.htm (EX-32.2) — 6KB
- 0001809104-24-000015.txt ( ) — 11156KB
- alit-20240630.xsd (EX-101.SCH) — 87KB
- alit-20240630_cal.xml (EX-101.CAL) — 143KB
- alit-20240630_def.xml (EX-101.DEF) — 506KB
- alit-20240630_lab.xml (EX-101.LAB) — 934KB
- alit-20240630_pre.xml (EX-101.PRE) — 726KB
- alit-20240630_htm.xml (XML) — 1730KB
Forward-Looking Statements
Forward-Looking Statements 1 PART I. FINANCIAL INFORMATION 3 Item 1.
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 5 Condensed Consolidated Statements of Cash Flows (Unaudited) 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.
Controls and Procedures
Controls and Procedures 45 PART II. OTHER INFORMATION 46 Item 1.
Legal Proceedings
Legal Proceedings 46 Item 1A.
Risk Factors
Risk Factors 46 Item 2. Unregistered Sales of Equity Securities a nd Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 46 Item 4. Mine Safety Disclosures 47 Item 5. Other Information 47 Item 6. Exhibits 48
Forward-Looking Statements
Forward-Looking Statements This Quarterly Report on Form 10-Q 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. 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 other factors, many of which are outside the control of the Company and its directors, officers and affiliates. Accordingly, forward-looking statements should not be relied upon as representing the Company's views as of any subsequent date. The Company does not undertake any obligation to update, add or otherwise correct any forward-looking statements contained herein to reflect events or circumstances after the date they were made, whether as a result of new information, future events, inaccuracies that become apparent after the date hereof or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: our ability to realize the expected benefits
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. Alight, Inc. Condensed Consolidated Balance Sheets (Unaudited) June 30, 2024 December 31, 2023 (in millions, except par values) Assets Current Assets Cash and cash equivalents $ 183 $ 324 Receivables, net 372 435 Other current assets 210 260 Fiduciary assets 217 234 Current assets held for sale 2,461 1,523 Total Current Assets 3,443 2,776 Goodwill 3,212 3,212 Intangible assets, net 2,995 3,136 Fixed assets, net 393 331 Deferred tax assets, net 86 38 Other assets 344 341 Long-term assets held for sale — 948 Total Assets $ 10,473 $ 10,782 Liabilities and Stockholders' Equity Liabilities Current Liabilities Accounts payable and accrued liabilities $ 249 $ 325 Current portion of long-term debt, net 329 25 Other current liabilities 261 233 Fiduciary liabilities 217 234 Current liabilities held for sale 1,461 1,370 Total Current Liabilities 2,517 2,187 Deferred tax liabilities 32 32 Long-term debt, net 2,451 2,769 Long-term tax receivable agreement 757 733 Financial instruments 80 109 Other liabilities 159 142 Long-term liabilities held for sale — 68 Total Liabilities $ 5,996 $ 6,040 Commitments and Contingencies Stockholders' Equity Preferred stock at $ 0.0001 par value: 1.0 shares authorized, none issued and outstanding $ — $ — Class A Common Stock: $ 0.0001 par value, 1,000.0 shares authorized; 558.0 and 517.3 shares issued, and 541.4 and 510.9 shares outstanding as of June 30, 2024 and December 31, 2023, respectively — — Class B Common Stock: $ 0.0001 par value, 20.0 shares authorized; 9.8 and 9.9 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Class V Common Stock: $ 0.0001 par value, 175.0 shares authorized; 0.6 and 29.0 issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Class Z Common Stock: $ 0.0001 par value, 12.9 shares authorized; 0.6 and 3.4 issued and outstanding as of June 30, 202