v3.21.2

Segment Reporting (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of Current Reportable Segments | Information regarding the Company’s current reportable segments is as follows (in millions):
|  | Revenue |
|  | Successor |  |  |  | Predecessor |
|  | Three Months Ended |  |  |  | Six Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  |  | June 30, |  |  | September 30, |  |  | September 30, |
|  | 2021 |  |  |  | 2021 |  |  | 2020 |  |  | 2020 |
Employer Solutions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring |  | $ |  | 522 |  |  |  | $ |  | 1,049 |  |  | $ |  | 498 |  |  | $ |  | 1,516 |
Project |  |  |  | 65 |  |  |  |  |  | 107 |  |  |  |  | 61 |  |  |  |  | 162 |
Total Employer Solutions |  |  |  | 587 |  |  |  |  |  | 1,156 |  |  |  |  | 559 |  |  |  |  | 1,678 |
Professional Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring |  |  |  | 32 |  |  |  |  |  | 60 |  |  |  |  | 28 |  |  |  |  | 78 |
Project |  |  |  | 61 |  |  |  |  |  | 124 |  |  |  |  | 65 |  |  |  |  | 194 |
Total Professional Services |  |  |  | 93 |  |  |  |  |  | 184 |  |  |  |  | 93 |  |  |  |  | 272 |
Hosted Business |  |  |  | 10 |  |  |  |  |  | 21 |  |  |  |  | 16 |  |  |  |  | 58 |
Total |  | $ |  | 690 |  |  |  | $ |  | 1,361 |  |  | $ |  | 668 |  |  | $ |  | 2,008 |
|  | Segment Profit |
|  | Successor |  |  |  | Predecessor |
|  | Three Months Ended |  |  |  | Six Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  |  | June 30, |  |  | September 30, |  |  | September 30, |
|  | 2021 |  |  |  | 2021 |  |  | 2020 |  |  | 2020 |
Employer Solutions |  | $ |  | 151 |  |  |  | $ |  | 274 |  |  | $ |  | 120 |  |  | $ |  | 389 |
Professional Services |  |  |  | 4 |  |  |  |  |  | 7 |  |  |  |  | 12 |  |  |  |  | 23 |
Hosted Business |  |  |  | (2 | ) |  |  |  |  | (3 | ) |  |  |  | — |  |  |  |  | 4 |
Total of all reportable segments |  |  |  | 153 |  |  |  |  |  | 278 |  |  |  |  | 132 |  |  |  |  | 416 |
Share-based compensation |  |  |  | 15 |  |  |  |  |  | 5 |  |  |  |  | 1 |  |  |  |  | 5 |
Transaction and integration |  |  |  | 3 |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Non-recurring professional expenses(1) |  |  |  | 17 |  |  |  |  |  | 18 |  |  |  |  | — |  |  |  |  | — |
Transformation initiatives(2) |  |  |  | — |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | 11 |
Restructuring |  |  |  | 3 |  |  |  |  |  | 9 |  |  |  |  | 10 |  |  |  |  | 57 |
Other(3) |  |  |  | 2 |  |  |  |  |  | (5 | ) |  |  |  | 4 |  |  |  |  | 28 |
Depreciation |  |  |  | 14 |  |  |  |  |  | 49 |  |  |  |  | 24 |  |  |  |  | 66 |
Intangible amortization |  |  |  | 74 |  |  |  |  |  | 100 |  |  |  |  | 51 |  |  |  |  | 151 |
Operating Income |  |  |  | 25 |  |  |  |  |  | 102 |  |  |  |  | 42 |  |  |  |  | 98 |
Loss from change in fair value of financial instruments |  |  |  | 90 |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Loss from change in fair value of tax receivable agreement |  |  |  | 27 |  |  |  |  |  | — |  |  |  |  | — |  |  |  |  | — |
Interest expense |  |  |  | 28 |  |  |  |  |  | 123 |  |  |  |  | 61 |  |  |  |  | 172 |
Other expense (income), net |  |  |  | — |  |  |  |  |  | 9 |  |  |  |  | 3 |  |  |  |  | (1 | )
Loss Before Income Tax (Benefit) Expense |  | $ |  | (120 | ) |  |  | $ |  | (30 | ) |  | $ |  | (22 | ) |  | $ |  | (73 | )
(1) | Non-recurring professional expenses primarily includes external advisor costs related to the Company’s Business Combination completed in the third quarter of 2021.
(2) | Transformation initiatives in fiscal year 2020 includes expenses related to enhancing our data center.
(3) | Other primarily includes long-term incentive expenses and expenses related to acquisitions in fiscal year 2020, offset by Other expense (income), net.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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