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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 164 $ 32
Adjustments to reconcile net income to net cash provided by operating activities 235 320
Changes in working capital accounts, excluding the effects of acquisition (48) (97)
Change in deferred income taxes and other (39) (36)
Net cash provided by operating activities 312 219
Cash flows from investing activities:    
Capital expenditures 153 112
Other(1) (5) (6) [1]
Net cash used in investing activities (158) (118)
Cash flows from financing activities:    
Payments on long-term debt (5) (11)
Payments of debt issuance and deferred financing costs (2) 0
Payments on license obligations (14) (18)
Payments of contingent acquisition considerations (14) (9)
Purchase of L&W common stock (175) (33)
Purchase of SciPlay’s Class A common stock 0 (23)
Net redemptions of common stock under stock-based compensation plans and other (40) (11)
Net cash used in financing activities (250) (105)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) 1
Decrease in cash, cash equivalents and restricted cash (99) (3)
Cash, cash equivalents and restricted cash, beginning of period 521 967
Cash, cash equivalents and restricted cash, end of period 422 964
Supplemental cash flow information:    
Cash paid for interest 146 147
Income taxes paid 70 96
Cash paid for contingent acquisition considerations included in operating activities 22 9
Supplemental non-cash transactions:    
Non-cash interest expense $ 5 $ 5
[1]
(1) The six months ended June 30, 2023 include $3 million in cash used in discontinued operations.