Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 32

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 options and vesting of RSUs only in the periods in which such effect would have been dilutive to net income.For the three and nine months ended September 30, 2025, we included 1 million and 2 million, respectively, of common stock equivalents in the calculation of diluted net income per share. For both the three and nine months ended September 30, 2024, we included 2 million of common stock equivalents in the calculation of diluted net income per share. New Accounting Guidance - Not Yet Adopted The FASB issued ASU No. 2025-06, under Subtopic 350-40, Intangibles — Goodwill and Other — Internal-Use Software in September 2025. The new guidance aims to modernize the accounting for internal-use capitalized software costs 

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and removes all references to prescriptive and sequential software development stages (referred to as “project stages”) throughout Subtopic 350-40. An entity is therefore required to start capitalizing internal-use software costs when management has authorized and committed to funding the software project, and when it is probable that the project will be completed and the software will be used to perform the function intended (the “probable-to-complete” recognition threshold). The amendments in ASU No. 2025-06 are effective for all public entities for fiscal years beginning after December 15, 2027, and early adoption as of the beginning of an annual period is permitted. We are currently evaluating the impact of adopting this guidance.There have been no other recent accounting pronouncements or changes in accounting pronouncements since those described within Note 1 of our 2024 10-K that are expected to have a material impact on our consolidated financial statements.

(2) Revenue Recognition

The following table disaggregates our revenues by type within each of our reportable business segments:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024GamingGaming operations$241 $175 $624 $515 Gaming machine sales189 238 587 670 Gaming systems72 71 208 213 Table products56 53 162 154 Total$558 $537 $1,581 $1,552 SciPlayThird-party platforms and other(1)$157 $181 $496 $556 Direct-to-consumer platforms40 25 103 61 Total$197 $206 $599 $617