Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 28

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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Item 1. Condensed Consolidated Financial Statements (unaudited)

LIGHT & WONDER, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share amounts)

  Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Revenue:  Services$566 $526 $1,092 $1,044 Products243 292 490 531 Total revenue809 818 1,582 1,575 Operating expenses:  Cost of services(1)113 111 224 223 Cost of products(1)106 125 206 233 Selling, general and administrative208 220 425 438 Research and development64 66 129 128 Depreciation, amortization and impairments99 87 190 173 Restructuring and other 17 34 37 40 Operating income202 175 371 340 Other (expense) income:  Interest expense(77)(75)(146)(150)Loss on debt financing transactions— — (1)— Other (expense) income, net(1)8 4 18 Total other expense, net(78)(67)(143)(132)Net income before income taxes124 108 228 208 Income tax expense(29)(26)(51)(44)Net income$95 $82 $177 $164 Basic and diluted net income per share:Basic$1.12 $0.92 $2.09 $1.83 Diluted$1.11 $0.90 $2.05 $1.78 Weighted average number of shares used in per share calculations: Basic shares84 90 85 90 Diluted shares86 92 86 92 (1) Excludes D&A.

See accompanying notes to condensed consolidated financial statements.

8

LIGHT & WONDER, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in millions)

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income$95 $82 $177 $164 Other comprehensive income (loss)Foreign currency translation gain (loss), net of tax75 (1)123 (30)Derivative