Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 141

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 141
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 within D&A: Year Ended December 31,202420232022Amortization expense$78 $68 $70 

96

(12) Accrued Liabilities

Accrued liabilities consisted of the following: As of December 31, 20242023Compensation and benefits(1)$140 $139 Accrued interest31 35 Accrued licenses31 31 Legal matters89 12 Contract liabilities (including customer advances, deposits and funds held on behalf of customers)21 25 Taxes, other than income16 10 Operating lease liabilities16 19 Contingent acquisition consideration liabilities8 39 Other95 94 Total$447 $404 (1) Includes $44 million and $67 million in liability-classified equity awards as of December 31, 2024 and 2023, respectively.

(13) Leases and Other Commitments

LeasesOur operating leases primarily consist of real estate leases such as offices, warehouses and research and development facilities. Our leases have remaining lease terms ranging from one to nine years, some of which include options to extend the leases for up to three years or to terminate the leases within one year. Our finance leases are immaterial.Our total operating lease expense was $24 million, $23 million and $22 million for the years ended December 31, 2024, 2023 and 2022, respectively. The total amount of variable and short-term lease payments was immaterial for all periods presented.Supplemental balance sheet and cash flow information related to operating leases is as follows:As of December 31,20242023Operating lease right-of-use assets$44 $52 Accrued liabilities16 19 Operating lease liabilities31 39 Total operating lease liabilities$47 $58 Weighted average remaining lease term, years34Weighted average discount rate6 %6 %Year Ended December 31,202420232022Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases$23 $22 $20 Right-of-use assets obtained in exchange for new lease liabilities:Operating leases$12 $16 $17 Lease liability maturities are as follows:20252026202720282029ThereafterLess Imputed InterestTotalOperating leases$19 $15 $9 $7 $2 $— $(5)$47 As of December