Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 27

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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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 September 30,Nine Months Ended September 30, 2025202420252024Revenue:  Services$601 $530 $1,694 $1,573 Products240 287 730 818 Total revenue841 817 2,424 2,391 Operating expenses:  Cost of services(1)112 112 336 334 Cost of products(1)105 134 311 366 Selling, general and administrative219 220 644 657 Research and development62 66 192 194 Depreciation, amortization and impairments108 90 298 264 Restructuring and other 6 36 43 76 Operating income229 159 600 500 Other (expense) income:  Interest expense(84)(73)(229)(223)Loss on debt financing transactions(4)(2)(5)(2)Other (expense) income, net(2)(3)1 14 Total other expense, net(90)(78)(233)(211)Net income before income taxes139 81 367 289 Income tax expense(25)(17)(76)(61)Net income$114 $64 $291 $228 Basic and diluted net income per share:Basic$1.37 $0.72 $3.45 $2.55 Diluted$1.34 $0.71 $3.39 $2.49 Weighted average number of shares used in per share calculations: Basic shares84 89 84 90 Diluted shares85 91 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 September 30,Nine Months Ended September 30,2025202420252024Net income$114 $64 $291 $228 Other comprehensive income (loss):Foreign currency translation gain, net of tax8 60 131 30 Derivative financial instruments unreal