XML 23 R7.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended 12 Months Ended
Dec. 31, 2021
Jun. 30, 2021
Dec. 31, 2022
Dec. 31, 2020
Cash flows from operating activities        
Net loss $ (48)   $ (72)  
Adjustments to reconcile net loss to net cash provided by (used for) operations:        
Depreciation 31   79  
Intangible amortization expense 153   316  
Noncash lease expense 11   25  
Financing fee and premium amortization (2)   (2)  
Share-based compensation expense 67   181  
(Gain) loss from change in fair value of financial instruments 65   (38)  
(Gain) Loss from change in fair value of tax receivable agreement (37)   (41)  
Release of unrecognized tax provision     (31)  
Deferred tax benefit (1)   26  
Other 11   1  
Change in assets and liabilities:        
Receivables (28)   (136)  
Accounts payable and accrued liabilities 56   72  
Other assets and liabilities (222)   (94)  
Cash provided by (used for) operating activities 57   286  
Cash flows from investing activities        
Acquisition of businesses, net of cash acquired (1,793)   (87)  
Capital expenditures (59)   (148)  
Cash used for investing activities (1,852)   (235)  
Cash flows from financing activities        
Net increase (decrease) in fiduciary liabilities 266   229  
Distributions of equity (1)      
Borrowings from banks 627   104  
Financing fees (8)   (3)  
Repayments to banks (120)   (141)  
Principal payments on finance lease obligations (14)   (30)  
Tax payment for shares/units withheld in lieu of taxes (11)   (8)  
Deferred and contingent consideration payments (2)   (85)  
FTAC share redemptions (142)      
Proceeds related to FTAC investors 1,813      
Repurchase of shares     (12)  
Other financing activities (8)      
Cash provided by (used for) financing activities 2,400   54  
Effect of exchange rate changes on cash, cash equivalents and restricted cash 11   2  
Net increase (decrease) in cash, cash equivalents and restricted cash 616   107  
Cash, cash equivalents and restricted cash at beginning of period 1,036   1,652  
Cash, cash equivalents and restricted cash at end of period 1,652 $ 1,036 1,759  
Supplemental disclosures:        
Interest paid 64   126  
Income taxes paid 8   17  
Supplemental disclosure of non-cash financing activities:        
Fixed asset additions acquired through finance leases 2   9  
Right of use asset additions acquired through operating leases 2   $ 11  
Alight Holdings        
Cash flows from operating activities        
Net loss   (25)   $ (103)
Adjustments to reconcile net loss to net cash provided by (used for) operations:        
Depreciation   49   91
Intangible amortization expense   100   200
Noncash lease expense   10   30
Financing fee and premium amortization   9   20
Share-based compensation expense   5   5
Release of unrecognized tax provision   (1)    
Deferred tax benefit   (1)    
Other   1   11
Change in assets and liabilities:        
Receivables   51   133
Accounts payable and accrued liabilities   (45)   (11)
Other assets and liabilities   (97)   (143)
Cash provided by (used for) operating activities   58   233
Cash flows from investing activities        
Acquisition of businesses, net of cash acquired       (52)
Capital expenditures   (55)   (90)
Cash used for investing activities   (55)   (142)
Cash flows from financing activities        
Net increase (decrease) in fiduciary liabilities   (15)   263
Borrowings from banks   110   779
Financing fees       (23)
Repayments to banks   (124)   (495)
Principal payments on finance lease obligations   (17)   (24)
Tax payment for shares/units withheld in lieu of taxes   (1)    
Deferred and contingent consideration payments   (1)    
Other financing activities   (16)   (37)
Cash provided by (used for) financing activities   (64)   463
Effect of exchange rate changes on cash, cash equivalents and restricted cash       (3)
Net increase (decrease) in cash, cash equivalents and restricted cash   (61)   551
Cash, cash equivalents and restricted cash at beginning of period $ 1,475 1,536   985
Cash, cash equivalents and restricted cash at end of period   1,475   1,536
Supplemental disclosures:        
Interest paid   112   210
Income taxes paid   5   19
Supplemental disclosure of non-cash financing activities:        
Fixed asset additions acquired through finance leases   2   62
Right of use asset additions acquired through operating leases   $ 10   26
Non-cash fixed asset additions       $ 26