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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 3,658 $ 291
Less: Income from discontinued operations, net of tax (3,855) (329)
Adjustments to reconcile net loss from continuing operations to net cash (used in) provided by operating activities from continuing operations 488 358
Changes in working capital accounts, excluding the effects of acquisitions (641) 51
Changes in deferred income taxes and other 4 (172)
Net cash (used in) provided by operating activities from continuing operations (346) 199
Net cash provided by operating activities from discontinued operations 52 260
Net cash (used in) provided by operating activities (294) 459
Cash flows from investing activities:    
Capital expenditures (158) (118)
Acquisitions of businesses, net of cash acquired (118) (40)
Proceeds from settlement of cross-currency interest rate swaps 50 0
Other, net 2 10
Net cash used in investing activities from continuing operations (224) (148)
Net cash provided by (used in) investing activities from discontinued operations(1) 6,368 (58)
Net cash provided by (used in) investing activities 6,144 (206)
Cash flows from financing activities:    
Borrowings under SGI revolving credit facility 280 0
Repayments under SGI revolving credit facility (280) (400)
Proceeds from issuance of senior notes and term loans 2,200 0
Repayment of notes and term loans (including redemption premium) (6,984) 0
Payments on long-term debt (103) (32)
Payments of debt issuance and deferred financing costs (37) (5)
Payments on license obligations (30) (25)
Purchase of treasury stock (203) 0
Purchase of SciPlay’s common stock 18 0
Net redemptions of common stock under stock-based compensation plans and other (35) (22)
Net cash used in financing activities from continuing operations (5,210) (484)
Net cash used in financing activities from discontinued operations (3) (8)
Net cash used in financing activities (5,213) (492)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (12) (3)
Increase (decrease) in cash, cash equivalents and restricted cash 625 (242)
Cash, cash equivalents and restricted cash, end of period 1,326 901
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 71
Cash, cash equivalents and restricted cash, beginning of period 701 1,143
Cash, cash equivalents and restricted cash of continuing operations, end of period 1,326 830
Supplemental cash flow information:    
Cash paid for interest 271 349
Income taxes paid 497 27
Distributed earnings from equity investments 4 15
Supplemental non-cash transactions:    
Non-cash interest expense 12 18
Fair value of securities received in sale of discontinued operations $ 46 $ 0