Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 151

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 151
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 decreased 12% and 8% for the three and nine months ended September 30, 2025, respectively, primarily as a result of lower cost of products in correlation with lower gaming machine sales revenue.

SG&A

SG&A decreased $13 million for the nine months ended September 30, 2025, as compared to the prior year period. The change was primarily driven by lower SciPlay user acquisition costs of $9 million.

D&A

D&A increased 20% and 13% for the three and nine months ended September 30, 2025, respectively, 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

Restructuring and other decreased for the three and nine months ended September 30, 2025, primarily due to $34 million and $66 million associated with charges related to certain legal matters in the three and nine months ended September 30, 2024, respectively, partially offset by an increase in costs related to strategic review and related transactions for the nine months ended September 30, 2025, including legal and professional service fees associated with the acquisition of Grover of $14 million and $10 million in iGaming charges primarily related to the discontinuation of our iGaming Live Casino operations.

Other Factors Affecting Net Income

Three Months Ended September 30,Nine Months Ended September 30,Factors Affecting Net Income(in millions)20252024202520242025 vs. 2024Other (expense) income, net$(2)$(3)$1 $14 The change in other (expense) income, net was primarily due to the impact of changes in foreign currency exchange rates, coupled with a decrease in interest income.Income tax expense(1)(25)(17)(76)(61)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 September 30,Nine Months Ended September