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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Jun. 30, 2021
Sep. 30, 2022
Cash flows from operating activities        
Net income (loss) $ (45) $ (120)   $ (6)
Adjustments to reconcile net loss to net cash provided by (used for) operations:        
Depreciation 21 14   56
Intangible amortization expense 78 74   237
Noncash lease expense   6   19
Financing fee and premium amortization   (1)   (1)
Share-based compensation expense 54 15   129
(Gain) loss from change in fair value of financial instruments 10 90   (53)
(Gain) loss from change in fair value of tax receivable agreement (20) 27   (63)
Release of Unrecognized Tax Provision       (29)
Deferred tax benefit   (1)   (6)
Other       4
Change in assets and liabilities:        
Receivables   (22)   (73)
Accounts payable and accrued liabilities   14   (2)
Other assets and liabilities   (103)   (11)
Cash provided by (used for) operating activities   (7)   201
Cash flows from investing activities        
Acquisition of businesses, net of cash acquired   (1,394)    
Capital expenditures   (27)   (115)
Cash used for investing activities   (1,421)   (115)
Cash flows from financing activities        
Net increase (decrease) in fiduciary liabilities   453   74
Borrowings from banks   576   104
Financing fees   (7)   (3)
Repayments to banks   (57)   (134)
Principal payments on finance lease obligations   (7)   (20)
Settlements of interest rate swaps   (4)    
Tax payment for shares/units withheld in lieu of taxes       (1)
Deferred and contingent consideration payments       (81)
FTAC share redemptions   (142)    
Proceeds related to FTAC investors   1,813    
Repurchase of shares       (12)
Cash (used for) provided by financing activities   2,625   (73)
Effect of exchange rate changes on cash, cash equivalents and restricted cash   4   (7)
Net increase (decrease) in cash, cash equivalents and restricted cash   1,201   6
Cash, cash equivalents and restricted cash at beginning of period   1,036   1,652
Cash, cash equivalents and restricted cash at end of period 1,658 2,237 $ 1,036 1,658
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets        
Cash and cash equivalents 304 769   304
Restricted cash included in fiduciary assets 1,354 1,468   1,354
Total cash, cash equivalents and restricted cash $ 1,658 2,237 1,036 1,658
Supplemental disclosures:        
Interest paid   26   89
Income taxes paid   4   14
Supplemental disclosure of non-cash financing activities:        
Fixed asset additions acquired through finance leases   1   7
Right of use asset additions acquired through operating leases       $ 9
Alight Holdings        
Cash flows from operating activities        
Net income (loss)     (25)  
Adjustments to reconcile net loss to net cash provided by (used for) operations:        
Depreciation     49  
Intangible amortization expense     100  
Noncash lease expense     10  
Financing fee and premium amortization     9  
Share-based compensation expense     5  
Release of Unrecognized Tax Provision     1  
Deferred tax benefit     (1)  
Other     1  
Change in assets and liabilities:        
Receivables     51  
Accounts payable and accrued liabilities     (45)  
Other assets and liabilities     (97)  
Cash provided by (used for) operating activities     58  
Cash flows from investing activities        
Capital expenditures     (55)  
Cash used for investing activities     (55)  
Cash flows from financing activities        
Net increase (decrease) in fiduciary liabilities     (15)  
Members' equity unit repurchase     (2)  
Borrowings from banks     110  
Repayments to banks     (124)  
Principal payments on finance lease obligations     (17)  
Settlements of interest rate swaps     (14)  
Tax payment for shares/units withheld in lieu of taxes     (1)  
Deferred and contingent consideration payments     (1)  
Cash (used for) provided by financing activities     (64)  
Net increase (decrease) in cash, cash equivalents and restricted cash     (61)  
Cash, cash equivalents and restricted cash at beginning of period   $ 1,475 1,536  
Cash, cash equivalents and restricted cash at end of period     1,475  
Reconciliation of cash, cash equivalents, and restricted cash to the Consolidated Balance Sheets        
Cash and cash equivalents     460  
Restricted cash included in fiduciary assets     1,015  
Total cash, cash equivalents and restricted cash     1,475  
Supplemental disclosures:        
Interest paid     112  
Income taxes paid     5  
Supplemental disclosure of non-cash financing activities:        
Fixed asset additions acquired through finance leases     2  
Right of use asset additions acquired through operating leases     $ 10