Company: LAWIL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000750004-25-000031
Chunk: 35

Company: Light & Wonder, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 35
---
 of our customers.The fair value of receivables is estimated by discounting expected future cash flows using current interest rates at which similar loans would be made to borrowers with similar credit ratings and remaining maturities. As of March 31, 2025 and December 31, 2024, the fair value of receivables, net, approximated the carrying value due to contractual terms of receivables generally being less than 24 months.

(6) Inventories

Inventories consisted of the following: As of March 31, 2025December 31, 2024Parts and work-in-process$126 $126 Finished goods43 32 Total inventories$169 $158 Parts and work-in-process include parts for gaming machines and our finished goods inventory primarily consist of gaming machines for sale.

(7) Property and Equipment, net

Property and equipment, net consisted of the following:As of March 31, 2025December 31, 2024Land$6 $6 Buildings and leasehold improvements64 64 Gaming machinery and equipment763 745 Furniture and fixtures29 29 Construction in progress10 9 Other property and equipment108 102 Less: accumulated depreciation(689)(669)Total property and equipment, net$291 $286 Depreciation expense is excluded from cost of services, cost of products and other operating expenses and is separately presented within D&A.Three Months Ended March 31,20252024Depreciation expense$42 $31 

17

(8) Intangible Assets, net and Goodwill

Intangible Assets, netThe following tables present certain information regarding our intangible assets as of March 31, 2025 and December 31, 2024.As ofMarch 31, 2025December 31, 2024Gross CarryingValueAccumulatedAmortizationNet BalanceGross CarryingValueAccumulatedAmortizationNet BalanceAmortizable intangible assets:   Customer relationships$901 $(641)$260 $898 $(624)$274 Intellectual property 932 (816)116 924 (801)123 Licenses293 (248)45 290 (242)48 Brand names129 (126)3 128 (125)3 Trade names162 (161)1 161 (159)2 Patents and other11