Company: LAWIL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000750004-25-000048
Chunk: 45

Company: Light & Wonder, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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2024(Loss) gain recorded in accumulated other comprehensive loss, net of tax$(3)$— $(8)$6 Interest income related to interest rate swap contracts recorded in interest expense3 5 5 9 

22

We do not expect to reclassify material amounts from accumulated other comprehensive loss to interest expense in the next twelve months. The following table shows the effect of interest rate swap contracts designated as cash flow hedges on interest expense in the consolidated statements of income:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Total interest expense which reflects the effects of cash flow hedges$(77)$(75)$(146)$(150)Hedged item(5)(5)(10)(10)Derivative designated as hedging instrument8 10 15 19 The following table shows the fair value of our hedges:As ofBalance Sheet Line ItemJune 30, 2025December 31, 2024Interest rate swapsOther assets$9 $19 Contingent Acquisition Consideration LiabilitiesIn connection with our acquisitions, we have recorded certain contingent consideration liabilities (including redeemable non-controlling interest), of which the values are primarily based on reaching certain earnings-based metrics. The related liabilities were recorded at fair value on their respective acquisition dates as a part of the consideration transferred and are remeasured each reporting period (other than for redeemable non-controlling interest, which is measured based on its redemption value). The inputs used to measure the fair value of our liabilities are categorized as Level 3 in the fair value hierarchy.The table below reconciles the change in the contingent acquisition consideration liabilities (including deferred purchase price) for the period from December 31, 2024 to June 30, 2025.TotalIncluded in Accrued LiabilitiesIncluded in Other Long-Term LiabilitiesBalance as of December 31, 2024$15 $8 $7 Additions(1)56 Payments(2)Other adjustments(2)(6)Balance as of June 30, 2025$63 $13 $50 (1) Represents contingent consideration liability related to the Grover acquisition (see Note 1).(2) Represents extinguishment of $6 million in redeemable non-controlling interest liability associated with SciPlay’s acquisition of Alictus Yazilim Anonim Şirketi in 2022, as specified financial targets were not met. The gain was recorded in