Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 130

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 130
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 for all periods presented.All SciPlay revenue is classified as services revenue.iGamingiGaming revenue is generated from various games made available via our aggregation platforms, remote gaming servers and various other platforms, which deliver a wide spectrum of internally developed and branded games and popular third-party provided games to gaming operators. iGaming revenue is also generated from platform technology solutions, which provide gaming operators optional portals for reporting and administrative functions. We provide daily access to these platforms and are typically compensated based on variable consideration, such as a percentage of net gaming revenue with variability generally resolved in the reporting period. All iGaming revenue is classified as services revenue.Contract Liabilities and Other DisclosuresThe following table summarizes the activity in our contract liabilities for the reporting period:Year Ended December 31, 2024Contract liability balance, beginning of period(1)$27 Liabilities recognized during the period16 Amounts recognized in revenue from beginning balance(22)Contract liability balance, end of period(1)$21 (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 opening and closing balances in our receivables and contract assets:ReceivablesContract Assets(1)End of period balance, December 31, 2023$543 $24 End of period balance, December 31, 2024682 43 (1) Contract assets are included primarily within Prepaid expenses, deposits and other current assets in our consolidated balance sheets.

(4) Restructuring and Other

Restructuring and other includes charges or expenses attributable to: (i) employee severance; (ii) management restructuring and related costs; (iii) restructuring and integration; (iv) cost savings initiatives; (v) major litigation; and (vi) 

89

acquisition- and disposition-related costs and other unusual items. The following table summarizes pre-tax restructuring and other costs for the periods presented:Year Ended December 31,202420232022Employee severance and related$6 $16 $10 Legal and related (see Note 19)79 — 8 Strategic review and related(1