Company: LAWIL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000750004-25-000072
Chunk: 34

Company: Light & Wonder, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 three reportable business segments—Gaming, SciPlay and iGaming—representing our different products and services. A detailed discussion regarding the products and services from which each reportable business segment derives its revenue is included in Notes 2 and 3 in our 2024 10-K.In evaluating financial performance, our Chief Operating Decision Maker (defined as our Chief Executive Officer) focuses on AEBITDA as management’s primary segment measure of profit or loss, which is described in footnote (5) to the below table. Our CODM uses reportable business segment AEBITDA to evaluate the performance of each reportable business segment and to allocate resources. Additionally, AEBITDA is one of the key metrics used in our incentive compensation program. The accounting policies for our reportable segments are the same as those described within the Notes in our 2024 10-K. The following tables present our reportable segment information:Three Months Ended September 30, 2025GamingSciPlayiGamingTotal Reportable SegmentsUnallocated and Reconciling Items(1)TotalTotal revenue$558 $197 $86 $841 $— $841 Cost of revenue(2)(138)(51)(28)(217)— (217)Payroll and related(3)(86)(25)(14)(125)— (125)Other segment reconciling items(4)(29)(50)(10)(89)(35)(124)AEBITDA(5)305 71 34 410 (35)375 Reconciling items to net income before income taxes:Restructuring and other(1)(1)(1)(3)(3)(6)D&A(108)(108)Interest expense(84)(84)Loss on debt financing transactions(4)(4)Other income, net(6)(6)Stock-based compensation(28)(28)Net income before income taxes$139 Capital expenditures for the three months ended September 30, 2025$64 $5 $6 $75 $4 $79 (1) Includes amounts not allocated to the reportable segments (including corporate costs) and items to reconcile the total reportable segments AEBITDA to our consolidated net income before income taxes.(2) Excludes D&A.(3) Excludes stock-based compensation.(4) Primarily represents various other non-payroll related operating expenses, including but not limited to, professional and legal services, marketing, facilities and