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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, 2021
Jun. 30, 2021
Sep. 30, 2020
Cash flows from operating activities      
Net loss $ (120) $ (25) $ (85)
Adjustments to reconcile net loss to net cash (used for) provided by operations:      
Depreciation 14 49 66
Intangible amortization expense 74 100 151
Noncash lease expense 6    
Financing fee and premium amortization (1)    
Share-based compensation expense 15 5 5
Loss from change in fair value of financial instruments 90    
Loss from change in fair value of tax receivable agreement 27    
Change in assets and liabilities:      
Receivables (22)    
Accounts payable and accrued liabilities 14    
Other assets and liabilities (104)    
Cash (used for) provided by operating activities (7)    
Cash flows from investing activities      
Acquisition of businesses, net of cash acquired (1,394)    
Capital expenditures (27)    
Cash used for investing activities (1,421)    
Cash flows from financing activities      
Net increase (decrease) in fiduciary liabilities 453    
Borrowings from banks 576    
Financing fees (7)    
Repayments to banks (57)    
Principal payments on finance lease obligations (7)    
Settlements of interest rate swaps (4)    
FTAC share redemptions (142)    
Proceeds related to FTAC investors 1,813    
Cash provided by (used for) financing activities 2,625    
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4    
Net increase (decrease) in cash, cash equivalents and restricted cash 1,201    
Cash, cash equivalents and restricted cash at beginning of period 1,036    
Cash, cash equivalents and restricted cash at end of period 2,237 1,036  
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets      
Cash and cash equivalents 769    
Restricted cash included in fiduciary assets 1,468    
Cash, cash equivalents and restricted cash at end of period 2,237 1,036  
Supplemental disclosures:      
Interest paid 26 112 127
Income taxes paid 4 5 16
Supplemental disclosure of non-cash financing activities:      
Fixed asset additions acquired through finance leases 1 2 62
Right of use asset additions acquired through operating leases   10 26
Non-cash fixed asset additions     26
Alight Holdings      
Cash flows from operating activities      
Net loss   (25) (85)
Adjustments to reconcile net loss to net cash (used for) provided by operations:      
Depreciation   49 66
Intangible amortization expense   100 151
Noncash lease expense   10 17
Financing fee and premium amortization   9 15
Share-based compensation expense   5 5
Other   1 1
Change in assets and liabilities:      
Receivables   51 81
Accounts payable and accrued liabilities   (45) 35
Other assets and liabilities   (97) (155)
Cash (used for) provided by operating activities   58 131
Cash flows from investing activities      
Acquisition of businesses, net of cash acquired     (52)
Capital expenditures   (55) (71)
Cash used for investing activities   (55) (123)
Cash flows from financing activities      
Net increase (decrease) in fiduciary liabilities   (15) 210
Members' equity unit repurchase   (2) (3)
Distributions of members' equity     (3)
Borrowings from banks   110 726
Financing fees     (23)
Repayments to banks   (124) (435)
Principal payments on finance lease obligations   (17) (18)
Settlements of interest rate swaps   (14) (14)
Tax payment for units withheld in lieu of taxes   (1)  
Contingent consideration payments   (1)  
Other financing activities     (2)
Cash provided by (used for) financing activities   (64) 438
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (3)
Net increase (decrease) in cash, cash equivalents and restricted cash   (61) 443
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 1,428
Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets      
Cash and cash equivalents   460 451
Restricted cash included in fiduciary assets   1,015 977
Cash, cash equivalents and restricted cash at end of period   $ 1,475 $ 1,428