Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following reflects total stock-based compensation expense recognized under all programs:

	Year Ended December 31,
	2022		2021		2020
Related to L&W stock options	$	1	$	31	$	8
Related to L&W RSUs	56		75		26
Related to SciPlay RSUs	12		7		22
Total(1)	$	69	$	113	$	56
(1) The years ended December 31, 2022 and 2021 include $24 million and $34 million, respectively, classified as liability awards.

Schedule of change in the number of shares of Class A common stock

The following table sets forth the change in the number of shares of common stock outstanding during the fiscal years ended December 31, 2022 and 2021:

	December 31,
	2022	2021
Shares outstanding as of beginning of period	97	95
Shares issued as part of equity-based compensation plans and the employee stock purchase plan (“ESPP”), net of shares surrendered	1	2
Shares repurchased into treasury stock	(7)	—
Shares outstanding as of end of period	91	97

Share-based Payment Arrangement, Option, Activity

A summary of the changes in stock options outstanding under our equity-based compensation plans during 2022 is presented below:

	Number of Options	Weighted Average Remaining Contract Term (Years)	Weighted Average Exercise Price (per share)		Aggregate Intrinsic Value
Options outstanding as of December 31, 2021	2.0	5.3	$	33.59	$	68
Granted	—	—	$	57.67	$	—
Exercised	(0.1)	—	$	25.94	$	3
Cancelled	(0.1)	—	$	22.69	$	—
Options outstanding as of December 31, 2022	1.8	3.5	$	34.40	$	45
Options exercisable as of December 31, 2022	1.8	3.5	$	34.35	$	44
Options expected to vest as of December 31, 2022	0.1	7.2	$	37.49	$	1

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted-average assumptions used in the model are outlined in the following table:

	2022		2021		2020
Assumptions:
Expected volatility	71	%	74	%	75	%
Risk-free interest rate	3.01	%	0.96	%	0.36	%
Dividend yield	—		—		—
Expected life (in years)	6		6		6

RSUs outstanding under equity-based compensation plans

A summary of the changes in RSUs outstanding under our equity-based compensation plans during 2022 is presented below:

	Number of Restricted Stock Units	Weighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2021	2.7	$	32.03
Granted	1.8	$	56.88
Vested	(2.0)	$	38.91
Cancelled	(0.8)	$	38.23
Unvested RSUs as of December 31, 2022	1.7	$	46.66