Alight, Inc. / DelawareALIT
Alight, Inc. / Delaware Earnings Per Share Disclosure
11. Earnings Per Share
Basic earnings per share is calculated by dividing the net income (loss) attributable to Alight, Inc. by the weighted average number of shares of Class A Common Stock issued and outstanding. The computation of diluted earnings per share reflects the potential dilution that could occur if dilutive securities and other contracts to issue shares were exercised or converted into shares or resulted in the issuance of shares that would then share in the net income of Alight, Inc. The Company’s Class V Common Stock does not, and its Class Z Common Stock did not, participate in the earnings or losses of the Company and are therefore not participating securities and have not been included in either the basic or diluted earnings per share calculations. RSU and PSU nonvested share-based payment awards contain rights to receive forfeitable dividends and therefore are not participating securities.
In conjunction with the Business Combination, the Company issued Seller Earnouts contingent consideration, which is payable in the Company’s Common Stock when the related market conditions are achieved. As the related conditions to pay the consideration had not been satisfied as of December 31, 2025, the Seller Earnouts were excluded from the diluted earnings per share calculations.
Basic and diluted (net loss) earnings per share are as follows (in millions, except for share and per share amounts):
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Basic and diluted (net loss) earnings per share: | |||||||||||||||||
| Numerator | |||||||||||||||||
| Net Income (Loss) From Continuing Operations | $ | (3,078) | $ | (140) | $ | (317) | |||||||||||
| Less: Net income (loss) attributable to noncontrolling interest | 2 | 2 | 17 | ||||||||||||||
| Net Income (loss) from continuing operations attributable to Alight, Inc. | $ | (3,076) | $ | (138) | $ | (300) | |||||||||||
| Net Income (Loss) From Discontinued Operations, Net of Tax | (21) | (19) | (45) | ||||||||||||||
| Net Income (Loss) Attributable to Alight, Inc. - basic | $ | (3,097) | $ | (157) | $ | (345) | |||||||||||
| Loss impact of conversion of noncontrolling interest | — | (1) | — | ||||||||||||||
| Net income (loss) attributable to Alight, Inc. - diluted | $ | (3,097) | $ | (158) | $ | (345) | |||||||||||
| Denominator | |||||||||||||||||
| Weighted-average shares outstanding - basic | 527,567,685 | 539,861,208 | 489,461,259 | ||||||||||||||
| Dilutive effect of the exchange of noncontrolling interest units | — | 510,237 | — | ||||||||||||||
| Dilutive effect of RSUs | — | — | — | ||||||||||||||
| Weighted-average shares outstanding - diluted | 527,567,685 | 540,371,445 | 489,461,259 | ||||||||||||||
| Basic and Diluted (net loss) earnings per share | |||||||||||||||||
| Continuing operations | $ | (5.83) | $ | (0.25) | $ | (0.61) | |||||||||||
| Discontinued operations | $ | (0.04) | $ | (0.04) | $ | (0.09) | |||||||||||
| Net Income (Loss) | $ | (5.87) | $ | (0.29) | $ | (0.70) | |||||||||||
For the year ended December 31, 2025, 484,358 units related to noncontrolling interests and 7,617,889 unvested RSUs were not included in the computation of diluted shares outstanding as their impact would have been anti-dilutive. In addition, 14,999,998 shares related to the Seller Earnouts and 650,074 unvested PRSUs were excluded from the calculation of basic and diluted earnings per share as the market and performance conditions had not yet been met as of the end of the period.
For the year ended December 31, 2024, 7,325,106 unvested RSUs were not included in the computation of diluted shares outstanding as their impact would have been anti-dilutive. In addition, 14,999,998 shares related to the Seller Earnouts and 10,878,457 unvested PRSUs were excluded from the calculation of basic and diluted earnings per share as the market and performance conditions had not yet been met as of the end of the period.
For the year ended December 31, 2023, 28,962,218 units related to noncontrolling interests and 10,080,390 unvested RSUs were not included in the computation of diluted shares outstanding as their impact would have been anti-dilutive. In addition, 14,999,998 shares related to the Seller Earnouts and 27,411,360 unvested PRSUs were excluded from the calculation of basic and diluted earnings per share as the market and performance conditions had not yet been met as of the end of the period.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Mar 10, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.