XML 73 R63.htm IDEA: XBRL DOCUMENT v3.22.2
Debt - Additional Information (Details) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Jan. 31, 2022
Aug. 31, 2021
Jul. 31, 2021
Aug. 31, 2020
May 31, 2020
May 31, 2017
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Dec. 31, 2019
Debt Instrument [Line Items]                        
Debt balance             $ 2,840,000,000   $ 2,840,000,000   $ 2,868,000,000  
Amortization of financing fees and benefits                 (1,000,000)      
Interest expense related to debt instruments             28,000,000   55,000,000      
Alight Holdings                        
Debt Instrument [Line Items]                        
Amortization of financing fees and benefits                   $ 9,000,000    
Interest expense related to debt instruments               $ 52,000,000   105,000,000    
Interest Expense                        
Debt Instrument [Line Items]                        
Amortization of financing fees and benefits             1,000,000   $ 1,000,000      
Interest Expense | Alight Holdings                        
Debt Instrument [Line Items]                        
Amortization of financing fees and benefits               $ 4,000,000   8,000,000    
Revolving Credit Facility                        
Debt Instrument [Line Items]                        
Debt term           5 years            
Maturity Date           May 01, 2022            
Line of credit, maximum borrowing capacity           $ 250,000,000            
Amended Revolving Credit Facility                        
Debt Instrument [Line Items]                        
Maturity Date   Aug. 31, 2026   Oct. 31, 2024         Aug. 31, 2026      
Line of credit, maximum borrowing capacity   $ 294,000,000   $ 226,000,000     294,000,000   $ 294,000,000      
Unused letters of credit             4,000,000   4,000,000      
Proceeds from Lines of Credit                 $ 0      
Other                        
Debt Instrument [Line Items]                        
Maturity Date                 Jun. 30, 2022      
Principal payment                 $ 110,000,000      
Termination date                 Jun. 29, 2022      
Debt instrument, borrowings offset amount             $ 104,000,000   $ 104,000,000      
Revolving credit facility acquired                       $ 20,000,000
Term Loan                        
Debt Instrument [Line Items]                        
Debt term           7 years            
Repayments of principal to refinance debt       $ 270,000,000                
Maturity Date                 May 01, 2024      
Repayment of principal     $ 556,000,000                  
Term Loan | LIBOR | Minimum                        
Debt Instrument [Line Items]                        
Debt instrument, variable interest rate       2.75%                
Term Loan | LIBOR | Maximum                        
Debt Instrument [Line Items]                        
Debt instrument, variable interest rate       3.00%                
Term Loan, Amended                        
Debt Instrument [Line Items]                        
Debt balance       $ 1,986,000,000                
Maturity Date       Oct. 31, 2026         Oct. 31, 2026      
Debt instrument, variable interest rate basis                 1‑month      
Payment terms                 The Company is required to make principal payments at the end of each fiscal quarter based on defined terms in the agreement with the remaining principal balances due on the maturity dates.      
Principal payment                 $ 16,000,000      
Swap agreement expiration period                 2026-12      
Term Loan, Amended | Alight Holdings                        
Debt Instrument [Line Items]                        
Principal payment                   $ 13,000,000    
Term Loan, Amended | Minimum                        
Debt Instrument [Line Items]                        
Debt instrument, variable interest rate       0.50%                
Term Loan, Third Incremental                        
Debt Instrument [Line Items]                        
Debt balance   $ 525,000,000                    
Maturity Date Aug. 31, 2028 Aug. 31, 2028             Aug. 31, 2028 [1]      
Secured Senior Notes                        
Debt Instrument [Line Items]                        
Maturity Date         Jun. 01, 2025       Jun. 01, 2025      
Payment terms                 interest at a fixed rate of 5.75% per annum, payable semi-annually on June 1 and December 1 of each year      
Face amount         $ 300,000,000              
Interest rate         5.75%              
Debt payment beginning date         Dec. 01, 2020              
Term Loan, B-1                        
Debt Instrument [Line Items]                        
Maturity Date [2]                 Aug. 31, 2028      
Term Loan, B-1 | SOFR                        
Debt Instrument [Line Items]                        
Debt instrument, variable interest rate       3.00%                
[1] The net balance for the Third Incremental Term Loan at December 31, 2021 includes unamortized debt issuance costs of $6 million.
[2] The net balance for the B-1 Term Loan at June 30, 2022 includes unamortized debt issuance costs of $9 million.