Company: LAWIL
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000750004-25-000016
Chunk: 142

Company: Light & Wonder, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 142
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 31, 2024, we did not have material additional operating leases that have not yet commenced.

97

Other CommitmentsU.S. 401(k) planWe have a 401(k) plan for U.S.-based employees. Those employees who participate in our 401(k) plan are eligible to receive matching contributions from us for the first 6% of participant contributions (as defined in the plan document). Contribution expense for the years ended December 31, 2024, 2023 and 2022 amounted to $9 million, $9 million and $8 million, respectively.

(14) Long-Term Debt

Outstanding DebtThe following table reflects our outstanding debt:As of December 31,20242023 Final MaturityRate(s)Face ValueUnamortized debt discount/premium and deferred financing costs, netBook ValueBook ValueSenior Secured Credit Facilities:LNWI Revolver2027variable$— $— $— $— LNWI Term Loan B2029variable2,156 (23)2,133 2,141 LNWI Senior Notes:2028 Unsecured Notes20287.000%700 (5)695 694 2029 Unsecured Notes20297.250%500 (4)496 495 2031 Unsecured Notes20317.500%550 (7)543 543 Other——3 — 3 1 Total long-term debt outstanding$3,909 $(39)$3,870 $3,874 Less: current portion of long-term debt(23)(22)Long-term debt, excluding current portion$3,847 $3,852 Fair value of debt(1)$3,945 (1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.The following reflects the principal amount of debt payments due over the next five years and beyond as of December 31, 2024:DueTotal Principal DueSeries of DebtPrincipal Due per Series of Debt2025$23 Term Loan B$22 Other1 202622 Term Loan B21 Other1 202723 Term Loan B22 Drawn Revolving Credit Facility— Other1 2028721 Term Loan B21 2028 Unsecured Notes700 20292,570 Term Loan B2,070 2029