Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Reportable Segments

Information regarding the Company’s current reportable segments is as follows (in millions):

	Successor										Predecessor
		Year Ended			Year Ended			Six Months Ended			Six Months Ended
		December 31,			December 31,			December 31,			June 30,
		2023			2022			2021			2021
Employer Solutions
Recurring	$		2,695	$		2,467	$		1,213	$		1,049
Project			268			251			134			107
Total Employer Solutions			2,963			2,718			1,347			1,156
Professional Services
Recurring			142			128			65			60
Project			279			243			121			124
Total Professional Services			421			371			186			184
Total Reportable Segments			3,384			3,089			1,533			1,340
Other			26			43			21			21
Total revenue	$		3,410	$		3,132	$		1,554	$		1,361

	Successor													Predecessor
		Year Ended				Year Ended				Six Months Ended				Six Months Ended
		December 31,				December 31,				December 31,				June 30,
		2023				2022				2021				2021
Employer Solutions	$		1,033		$		911		$		489		$		392
Professional Services			109				86				44				46
Other			(2	)			(1	)			(1	)			(3	)
Total Gross Profit			1,140				996				532				435
Selling, general and administrative			754				671				304				222
Depreciation and intangible amortization			339				339				163				111
Goodwill Impairment			148				-				-				-
Operating Income (Loss)			(101	)			(14	)			65				102
(Gain) Loss from change in fair value of financial instruments			10				(38	)			65				-
(Gain) Loss from change in fair value of tax receivable agreement			118				(41	)			(37	)			-
Interest expense			131				122				57				123
Other (income) expense, net			6				(16	)			3				9
Income (Loss) Before Taxes	$		(366	)	$		(41	)	$		(23	)	$		(30	)

Schedule of Revenue and Long-lived Assets by Geographic Location

Revenue by geographic location is as follows (in millions):

	Successor							Predecessor
	Year Ended		Year Ended		Six months Ends		Six months Ends
	December 31,		December 31,		December 31,		June 30
	2023		2022		2021		2021
United States	$	2,993	$	2,759	$	1,358	$		1,168
Rest of world		417		373		196			193
Total	$	3,410	$	3,132	$	1,554	$		1,361

There was no single client who accounted for more than 10% of the Company’s revenues in any of the periods presented.

Long-lived assets, representing Fixed assets, net and Operating lease right of use assets, by geographic location is as follows (in millions):

	Year Ended		Year Ended
	December 31,		December 31,
	2023		2022
United States	$	389	$	359
Rest of world		50		47
Total	$	439	$	406