Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 95

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 2024, the fair value of receivables, net, approximated the carrying value due to contractual terms of receivables generally being less than 24 months.

(6) Inventories

Inventories consisted of the following: As of September 30, 2025December 31, 2024Parts and work-in-process$136 $126 Finished goods39 32 Total inventories$175 $158 Parts and work-in-process include parts for gaming machines, and our finished goods inventory primarily consist of gaming machines for sale.

(7) Property and Equipment, net

Property and equipment, net consisted of the following:As of September 30, 2025December 31, 2024Land$6 $6 Buildings and leasehold improvements67 64 Gaming machinery and equipment841 745 Furniture and fixtures31 29 Construction in progress6 9 Other property and equipment116 102 Less: accumulated depreciation(719)(669)Total property and equipment, net$348 $286 

19

Depreciation expense is excluded from cost of services, cost of products and other operating expenses and is separately presented within D&A.Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Depreciation expense$48 $32 $132 $96 

(8) Intangible Assets, net and Goodwill

Intangible Assets, netThe following tables present certain information regarding our intangible assets as of September 30, 2025 and December 31, 2024.As ofSeptember 30, 2025December 31, 2024Gross CarryingValueAccumulatedAmortizationNet BalanceGross CarryingValueAccumulatedAmortizationNet BalanceAmortizable intangible assets:   Customer relationships$1,250 $(682)$568 $898 $(624)$274 Intellectual property 1,041 (857)184 924 (801)123 Licenses313 (258)55 290 (242)48 Brand names131 (128)3 128 (125)3 Trade names189 (162)27 161 (159)2 Patents and other12 (7)5 11 (7)4 Total intangible assets$2,936 $(2,094)$842 $2,412 $(