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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 27 $ 28
Less: Income from discontinued operations, net of tax 0 (95)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating activities from continuing operations 138 121
Changes in working capital accounts, excluding the effects of acquisitions 32 (72)
Changes in deferred income taxes and other (12) 4
Net cash provided by (used in) operating activities from continuing operations 185 (14)
Net cash provided by operating activities from discontinued operations 0 108
Net cash provided by operating activities 185 94
Cash flows from investing activities:    
Capital expenditures (53) (43)
Acquisitions of businesses, net of cash acquired 0 (108)
Other (1) 0
Net cash used in investing activities from continuing operations (54) (151)
Net cash used in investing activities from discontinued operations (3) (25)
Net cash used in investing activities (57) (176)
Cash flows from financing activities:    
Borrowings under revolving credit facilities 0 230
Repayments under revolving credit facilities 0 (70)
Payments on long-term debt (6) (10)
Payments of debt issuance and deferred financing costs 0 (1)
Payments on license obligations (12) (19)
Purchase of L&W common stock (28) (51)
Purchase of SciPlay’s Class A common stock 8 0
Net redemptions of common stock under stock-based compensation plans and other (11) (25)
Net cash (used in) provided by financing activities from continuing operations (65) 54
Net cash used in financing activities from discontinued operations 0 (2)
Net cash (used in) provided by financing activities (65) 52
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 (1)
Increase (decrease) in cash, cash equivalents and restricted cash 63 (31)
Cash, cash equivalents and restricted cash, beginning of period 967 701
Cash, cash equivalents and restricted cash, end of period 1,030 670
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 117
Cash, cash equivalents and restricted cash of continuing operations, end of period 1,030 553
Supplemental cash flow information:    
Cash paid for interest 63 117
Income taxes paid 9 9
Distributed earnings from equity investments 0 1
Supplemental non-cash transactions:    
Non-cash interest expense $ 3 $ 6