Alight, Inc. Files Q3 2024 10-Q

TL;DR

Alight's Q3 2024 10-Q is in. Check financials.

AI Summary

Alight, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets and liabilities. Alight, Inc. is incorporated in Delaware and operates in the business services sector.

Why It Matters

This filing provides investors and stakeholders with a detailed look at Alight's financial health and operational performance during the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that requires careful analysis to assess the company's risk profile.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-11-12 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2023-12-31 — Previous Year End Date (Provides a point of comparison for financial performance.)

Key Players & Entities

• Alight, Inc. (company) — Filer of the 10-Q
• Delaware (company) — State of incorporation
• 20240930 (date) — End of the reporting period
• 0001809104 (company) — Central Index Key
• 7389 (company) — Standard Industrial Classification code for Business Services, NEC

FAQ

Key Financial Figures

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

Filing Documents

• alit-20240930.htm (10-Q) — 1792KB
• alit-20240930xex104xddgrsu.htm (EX-10.4) — 186KB
• alit-20240930xex105xddgpsu.htm (EX-10.5) — 202KB
• alit-20240930xex106xamendm.htm (EX-10.6) — 12KB
• alit-20240930xex107xamendm.htm (EX-10.7) — 13KB
• alit-20240930xex311.htm (EX-31.1) — 10KB
• alit-20240930xex312.htm (EX-31.2) — 10KB
• alit-20240930xex321.htm (EX-32.1) — 6KB
• alit-20240930xex322.htm (EX-32.2) — 6KB
• 0001809104-24-000029.txt ( ) — 11505KB
• alit-20240930.xsd (EX-101.SCH) — 84KB
• alit-20240930_cal.xml (EX-101.CAL) — 140KB
• alit-20240930_def.xml (EX-101.DEF) — 491KB
• alit-20240930_lab.xml (EX-101.LAB) — 928KB
• alit-20240930_pre.xml (EX-101.PRE) — 713KB
• alit-20240930_htm.xml (XML) — 1710KB

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 45 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 and Use of Proceeds 46 Item 3. Defaults Upon Senior Securities 47 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) September 30, 2024 December 31, 2023 (in millions, except par values) Assets Current Assets Cash and cash equivalents $ 300 $ 324 Receivables, net 453 435 Other current assets 186 260 Fiduciary assets 262 234 Current assets of discontinued operations — 1,523 Total Current Assets 1,201 2,776 Goodwill 3,212 3,212 Intangible assets, net 2,925 3,136 Fixed assets, net 394 331 Deferred tax assets, net 96 38 Other assets 443 341 Long-term assets of discontinued operations — 948 Total Assets $ 8,271 $ 10,782 Liabilities and Stockholders' Equity Liabilities Current Liabilities Accounts payable and accrued liabilities $ 334 $ 325 Current portion of long-term debt, net 25 25 Other current liabilities 305 233 Fiduciary liabilities 262 234 Current liabilities of discontinued operations — 1,370 Total Current Liabilities 926 2,187 Deferred tax liabilities 31 32 Long-term debt, net 2,006 2,769 Long-term tax receivable agreement 755 733 Financial instruments 67 109 Other liabilities 160 142 Long-term liabilities of discontinued operations — 68 Total Liabilities $ 3,945 $ 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; 559.5 and 517.3 shares issued, and 532.4 and 510.9 shares outstanding as of September 30, 2024 and December 31, 2023, respectively — — Class B Common Stock: $ 0.0001 par value, 20.0 shares authorized; 10.0 and 9.9 issued and outstanding as of September 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 September 30, 2024 and December 31, 2023, respectively — — Class Z Common Stock: $ 0.0001 par value, 12.9 shares authorized; 0.0 and 3.4 issued and out

View Full Filing

View this 10-Q filing on SEC EDGAR