Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 160

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 160
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 under the LNWI Term Loan A facility. The proceeds of the loans were used to complete the Grover acquisition and pay fees and expenses related thereto. Loans under the LNWI Term Loan A will mature on May 15, 2028 and, beginning with the first fiscal quarter ending on September 30, 2025, will amortize in 

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quarterly installments in aggregate amounts equal to: (i) for the first four full fiscal quarters following the TLA Closing Date, 0.625% of the aggregate principal amount of the LNWI Term Loan A funded on the TLA Closing Date and (ii) for each fiscal quarter following the fourth full fiscal quarter following the TLA Closing Date, 1.25% of the aggregate principal amount of such LNWI Term Loan A funded on the TLA Closing Date, with any outstanding balance due and payable at maturity. See Note 10 for further details.

Cash Flow Summary

Six Months Ended June 30,Variance(in millions)202520242025 vs. 2024Net cash provided by operating activities$291 $312 $(21)Net cash used in investing activities(1,000)(158)(842)Net cash provided by (used in) financing activities660 (250)910 Effect of exchange rate changes on cash, cash equivalents and restricted cash8 (3)11 Decrease in cash, cash equivalents and restricted cash$(41)$(99)$58 

Cash flows from operating activities

Six Months Ended June 30,Variance(in millions)202520242025 vs. 2024Net income$177 $164 $13 Adjustments to reconcile net income to cash provided by operating activities 225 196 29 Changes in working capital accounts, excluding the effects of acquisitions(111)(48)(63)Net cash provided by operating activities$291 $312 $(21)

Net cash provided by operating activities decreased primarily due to changes in working capital accounts, partially offset by a $42 million increase in earnings (drivers of which are described above). Changes in working capital accounts for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 were negatively impacted by $73 million related to certain legal settlement payments and increased inventory levels.

Cash flows from investing activities

Net cash used in investing activities increased primarily due to the Grover acquisition, partially offset by lower capital expenditures related to the timing of investments in Gaming operations. Capital expenditures are