Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 105

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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30, 2025, respectively, and $17 million and $61 million for the three and nine months ended September 30, 2024, respectively. For the three and nine months ended September 30, 2025, our effective tax rate differed from the U.S. statutory rate of 21%, primarily as a result of foreign earnings and the impact of worldwide tax rates on foreign earnings. In all periods, we recorded tax expense relative to pre-tax earnings in jurisdictions without valuation allowances.On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We have accounted for the impact of the OBBBA on our consolidated financial statements in the third quarter of 2025 and continue to evaluate any further potential impacts from provisions taking effect at a later time.

(14) Leases 

Our total operating lease expense for the three and nine months ended September 30, 2025 was $7 million and $20 million, respectively, and $6 million and $18 million for the three and nine months ended September 30, 2024, respectively. The total amount of variable and short-term lease payments was immaterial for all periods presented.Supplemental balance sheet and cash flow information related to operating leases is as follows:As of September 30, 2025December 31, 2024Operating lease right-of-use assets$48 $44 Accrued liabilities20 16 Operating lease liabilities32 31 Total operating lease liabilities$52 $47 Weighted average remaining lease term, years33Weighted average discount rate6 %6 %Nine Months Ended September 30,20252024Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases$16 $17 Right-of-use assets obtained in exchange for new lease liabilities:Operating leases$19 $9 

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Lease liability maturities:Remainder of 20252026202720282029ThereafterLess Imputed InterestTotalOperating leases$6 $21 $14 $10 $3 $4 $(6)$52