XML 22 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities        
Net (loss) income $ (48)      
Adjustments to reconcile net (loss) income to net cash provided by operations:        
Depreciation 31 $ 49 $ 91 $ 68
Intangible amortization expense 153 100 200 185
Noncash lease expense 11      
Financing fee and premium amortization (2)      
Share-based compensation expense 67 5 5 9
Loss from change in fair value of financial instruments 65      
Gain from change in fair value of tax receivable agreement (37)      
Other 11      
Change in assets and liabilities:        
Receivables (28)      
Accounts payable and accrued liabilities 56      
Other assets and liabilities (222)      
Cash provided by operating activities 57      
Cash flows from investing activities        
Acquisition of businesses, net of cash acquired (1,793)      
Capital expenditures (59)      
Cash used for investing activities (1,852)      
Cash flows from financing activities        
Net increase (decrease) in fiduciary liabilities 266      
Distributions of equity (1)      
Borrowings from banks 627      
Financing fees (8)      
Repayments to banks (120)      
Principal payments on finance lease obligations (14)      
Settlements of interest rate swaps (8)      
Tax payment for shares/units withheld in lieu of taxes (11)      
Contingent consideration payments (2)      
FTAC share redemptions (142)      
Proceeds related to FTAC investors 1,813      
Cash provided by (used for) financing activities 2,400      
Effect of exchange rate changes on cash, cash equivalents and restricted cash 11      
Net increase (decrease) in cash, cash equivalents and restricted cash 616      
Cash, cash equivalents and restricted cash at beginning of period 1,036      
Cash, cash equivalents and restricted cash at end of period 1,652 1,036    
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets        
Cash and cash equivalents 372   506  
Restricted cash included in fiduciary assets 1,280      
Total cash, cash equivalents and restricted cash 1,652 1,036    
Supplemental disclosures:        
Interest paid 64      
Income taxes paid 8      
Supplemental disclosure of non-cash financing activities:        
Fixed asset additions acquired through finance leases 2      
Right of use asset additions acquired through operating leases 2      
Alight Holdings        
Cash flows from operating activities        
Net (loss) income   (25) (103) 22
Adjustments to reconcile net (loss) income to net cash provided by operations:        
Depreciation   49 91 68
Intangible amortization expense   100 200 185
Noncash lease expense   10 30 12
Financing fee and premium amortization   9 20 18
Share-based compensation expense   5 5 9
Other   1 11 5
Change in assets and liabilities:        
Receivables   51 133 (39)
Accounts payable and accrued liabilities   (45) (11) (61)
Other assets and liabilities   (97) (143) 49
Cash provided by operating activities   58 233 268
Cash flows from investing activities        
Acquisition of businesses, net of cash acquired     (52) (527)
Capital expenditures   (55) (90) (77)
Cash used for investing activities   (55) (142) (604)
Cash flows from financing activities        
Net increase (decrease) in fiduciary liabilities   (15) 263 87
Members' equity unit repurchase   (2) (3) (4)
Distributions of equity     (3) (10)
Borrowings from banks   110 779 483
Financing fees     (23) (5)
Repayments to banks   (124) (495) (120)
Principal payments on finance lease obligations   (17) (24) (13)
Settlements of interest rate swaps   (14) (21) 4
Tax payment for shares/units withheld in lieu of taxes   (1)   (2)
Contingent consideration payments   (1)    
Other financing activities     (10)  
Cash provided by (used for) financing activities   (64) 463 420
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (3) 1
Net increase (decrease) in cash, cash equivalents and restricted cash   (61) 551 85
Cash, cash equivalents and restricted cash at beginning of period $ 1,475 1,536 985 900
Cash, cash equivalents and restricted cash at end of period   1,475 1,536 985
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets        
Cash and cash equivalents   460 506 218
Restricted cash included in fiduciary assets   1,015 1,030 767
Total cash, cash equivalents and restricted cash   1,475 1,536 985
Supplemental disclosures:        
Interest paid   112 210 204
Income taxes paid   5 19 9
Supplemental disclosure of non-cash financing activities:        
Fixed asset additions acquired through finance leases   2 62 24
Right of use asset additions acquired through operating leases   $ 10 26 $ 58
Non-cash fixed asset additions     $ 26