Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 148

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 148
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 of $4 million and $1 million, respectively.

D&A

D&A for the three and six months ended June 30, 2025 increased primarily due to depreciation related to Gaming operations installed base investments and growth as well as D&A associated with assets acquired from the Grover acquisition.

Restructuring and Other

The decrease in restructuring and other for the three and six months ended June 30, 2025 was primarily due to a $32 million charge related to certain legal matters in the three months ended June 30, 2024, partially offset by an increase in costs related to strategic review and related transactions, including legal and professional service fees associated with the acquisition of Grover of $9 million and $14 million for the three and six months ended June 30, 2025, respectively, and $2 million and $9 million, respectively, in iGaming charges, primarily related to the discontinuation of our iGaming Live Casino operations.

Other Factors Affecting Net Income

Three Months Ended June 30,Six Months Ended June 30,Factors Affecting Net Income(in millions)20252024202520242025 vs. 2024Other (expense) income, net$(1)$8 $4 $18 The change in other (expense) income, net was primarily due to the impact of changes in foreign currency exchange rates.Income tax expense(1)(29)(26)(51)(44)The increase in income tax expense was primarily due to the increase in worldwide income.(1) For additional information regarding our income tax expense, see Note 13.

Foreign Currency Exchange (F/X)

Our results are impacted by changes in foreign currency exchange rates used in the translation of foreign functional currencies into USD and the re-measurement of foreign currency transactions or balances. The impact of foreign currency 

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exchange rate fluctuations represents the difference between current rates and prior-period rates applied to current activity. Our exposure to foreign currency volatility on revenue is as follows:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024($ in millions)Revenue% Consolidated RevenueRevenue% Consolidated RevenueRevenue% Consolidated RevenueRevenue% Consolidated RevenueForeign Currency:British Pound Sterling$33 4 %$32 4 %$56 4 %$60 4 %Euro57 7 %49 6 %111 7 %97 6 %Australian Dollar38 5