Acquisitions (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Final Purchase Price Allocation

The final purchase price allocation was as follows (amounts in millions):



	February 23, 2016			Estimated useful lives
Tangible assets and liabilities assumed:
Cash and cash equivalents	$	1,151
Accounts receivable	162
Other current assets	72
Property and equipment	57			2 - 7 years
Deferred income tax assets, net	27
Other assets	47
Accounts payable	(9		)
Accrued expenses and other liabilities	(272		)
Other liabilities	(110		)
Deferred income tax liabilities, net	(52		)
Intangible assets
Internally-developed franchises	845			3 - 5 years
Customer base	609			2 years
Developed software	580			3 - 4 years
Trade name	46			7 years
Goodwill	2,675
Total purchase price	$	5,828

Schedule of Pro Forma Financial Information

The amount of net revenue and earnings attributable to King in the Company’s condensed consolidated statement of operations during the three and six months ended June 30, 2016, the period of the King Acquisition, are included in the table below. The amounts presented represent the net revenues and earnings after adjustments for purchase price accounting, inclusive of amortization of intangible assets, share-based payments, and deferral of revenues and related cost of revenues.



(in millions)	For the Three Months Ended June 30, 2016			For the Six Months Ended June 30, 2016
Net revenues	$	458		$	641
Net loss	$	(49	)	$	(99	)

The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the King Acquisition, and any borrowings undertaken to finance the King Acquisition, had taken place at the beginning of the earliest period presented, nor does it intend to be a projection of future results.



(in millions)	For the Three Months Ended June 30, 2016		For the Six Months Ended June 30, 2016
Net revenues	$	1,570	$	3,305
Net income	$	140	$	470
Basic earnings per common share	$	0.19	$	0.63
Diluted earnings per common share	$	0.19	$	0.62