Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 34

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 34
---
abilities and Other DisclosuresThe following table summarizes the activity in our contract liabilities for the reporting period:Six Months Ended June 30, 2025Contract liability balance, beginning of period(1)$21 Liabilities recognized during the period15 Amounts recognized in revenue from beginning balance(12)Contract liability balance, end of period(1)$24 (1) Contract liabilities are included within Accrued liabilities and Other long-term liabilities in our consolidated balance sheets.The timing of revenue recognition, billings and cash collections results in billed receivables, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on our consolidated balance sheets. Other than contracts with customers with financing arrangements exceeding 12 months, revenue recognition is generally proximal to conversion to cash. The following table summarizes our balances in these accounts for the periods indicated (other than contract liabilities disclosed above):ReceivablesContract Assets(1)Beginning of period balance$682 $43 End of period balance, June 30, 2025736 45 (1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.As of June 30, 2025, we did not have material unsatisfied performance obligations for contracts expected to be long-term or contracts for which we recognize revenue at an amount other than that for which we have the right to invoice for goods or services delivered or performed.

14

(3) Reportable Segments

We report our operations in three reportable business segments—Gaming, SciPlay and iGaming—representing our different products and services. A detailed discussion regarding the products and services from which each reportable business segment derives its revenue is included in Notes 2 and 3 in our 2024 10-K.In evaluating financial performance, our Chief Operating Decision Maker (defined as our Chief Executive Officer) focuses on AEBITDA as management’s primary segment measure of profit or loss, which is described in footnote (5) to the below table. Our CODM uses reportable business segment AEBITDA to evaluate the performance of each reportable business segment and to allocate resources. Additionally, AEBITDA is one of the key metrics used in our incentive compensation program. The accounting policies for our reportable segments are the same as those described within the Notes in our 2024 10-K. The following tables present our reportable segment information:Three Months Ended June 30, 2025GamingSci