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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 3,323 $ 104
Less: Income from discontinued operations, net of tax (3,540) (243)
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities from continuing operations 369 245
Changes in working capital accounts, excluding the effects of acquisitions (145) 0
Changes in deferred income taxes and other 6 4
Net cash provided by operating activities from continuing operations 13 110
Net cash provided by operating activities from discontinued operations 44 162
Net cash provided by operating activities 57 272
Cash flows from investing activities:    
Capital expenditures (100) (75)
Acquisitions of businesses, net of cash acquired (116) 0
Proceeds from settlement of cross-currency interest rate swaps 50 0
Other (4) 9
Net cash used in investing activities from continuing operations (170) (66)
Net cash provided by (used in) investing activities from discontinued operations(1) 5,629 (32)
Net cash provided by (used in) investing activities 5,459 (98)
Cash flows from financing activities:    
Borrowings under SGI revolving credit facility 230 0
Repayments under SGI revolving credit facility (230) (250)
Proceeds from issuance of senior notes and term loans 2,200 0
Repayment of notes and term loans (including redemption premium) (6,984) 0
Payments on long-term debt (98) (21)
Payments of debt issuance and deferred financing costs (37) 0
Payments on license obligations (24) (24)
Purchase of treasury stock (203) 0
Purchase of SciPlay’s common stock 7 0
Net redemptions of common stock under stock-based compensation plans and other (33) (21)
Net cash used in financing activities from continuing operations (5,186) (316)
Net cash used in financing activities from discontinued operations (3) (8)
Net cash used in financing activities (5,189) (324)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (6) 0
Increase (decrease) in cash, cash equivalents and restricted cash 321 (150)
Cash, cash equivalents and restricted cash, beginning of period 701 1,143
Cash, cash equivalents and restricted cash, end of period 1,022 993
Less: Cash, cash equivalents and restricted cash of discontinued operations 43 74
Cash, cash equivalents and restricted cash of continuing operations, end of period 979 919
Supplemental cash flow information:    
Cash paid for interest 219 229
Income taxes paid 23 13
Distributed earnings from equity investments 4 15
Supplemental non-cash transactions:    
Non-cash interest expense 9 12
Discontinued Operations    
Cash flows from operating activities:    
Less: Income from discontinued operations, net of tax $ (3,540) $ (243)