Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 120

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 120
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$30 $31 Other long-term liabilities23 53 Total minimum guarantee obligations$53 $84 Weighted average remaining term (in years)23The following are our remaining expected future payments of minimum guarantee obligations:Year Ending December 31,20252026202720282029 and AfterExpected future payments$30 $13 $10 $— $— Other assetsWe capitalize debt issuance costs associated with long-term line-of-credit arrangements and amortize such amounts ratably over the term of the arrangement as an adjustment to interest expense. Other assets also include the fair value of our interest rate swaps and other long-term deposits and investments.We assess the recoverability of our other long-term assets whenever events arise or circumstances change that indicate the carrying value of the asset may not be recoverable.Other long-term liabilitiesWe record various liabilities with terms longer than one year past the balance sheet date, including income taxes payable, license liabilities, WAP annuity liabilities and contingent consideration liabilities.Noncontrolling interestOn October 23, 2023, we acquired the remaining approximately 17% equity interest in SciPlay not already owned by us pursuant to a merger (the “SciPlay Merger”) in an all-cash transaction of $496 million, excluding transaction fees and expenses. Prior to the SciPlay Merger, we owned a controlling financial interest in SciPlay, approximately 83% of SciPlay’s outstanding common stock, and we have consolidated SciPlay for all periods presented. The noncontrolling interest share of equity in SciPlay is reflected as noncontrolling interest in the accompanying consolidated financial statements for periods prior to October 23, 2023. As a result of SciPlay Merger, SciPlay ceased to be publicly traded and became a wholly-owned subsidiary of L&W.Advertising costsThe cost of advertising is expensed as incurred and totaled $177 million, $160 million and $162 million in 2024, 2023 and 2022, respectively.R&DR&D relates primarily to software product development costs incurred until technological feasibility has been established and costs that do not meet internal-use software capitalization criteria. Employee-related costs associated with product development are included in R&D. Such costs are expensed as incurred.

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Other income, netOther income, net for the years ended December 31, 2024, 2023 and 2022 primarily consisted of the following: Year Ended December 31,202420232022Foreign currency transaction net loss$(6)$(29