XML 33 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 32 $ 3,323
Less: Income from discontinued operations, net of tax 0 (3,540)
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities from continuing operations 320 369
Changes in working capital accounts, excluding the effects of acquisitions (97) (145)
Changes in deferred income taxes and other (36) 6
Net cash provided by operating activities from continuing operations 219 13
Net cash provided by operating activities from discontinued operations 0 44
Net cash provided by operating activities 219 57
Cash flows from investing activities:    
Capital expenditures (112) (100)
Acquisitions of businesses, net of cash acquired (2) (116)
Proceeds from settlement of cross-currency interest rate swaps 0 50
Other (1) (4)
Net cash used in investing activities from continuing operations (115) (170)
Net cash (used in) provided by investing activities from discontinued operations(1) (3) 5,629 [1]
Net cash (used in) provided by investing activities (118) 5,459
Cash flows from financing activities:    
Borrowings under revolving credit facilities 0 230
Repayments under revolving credit facilities 0 (230)
Proceeds from issuance of senior notes and term loans 0 2,200
Repayment of notes and term loans (including redemption premium) 0 (6,984)
Payments on long-term debt (11) (98)
Payments of debt issuance and deferred financing costs 0 (37)
Payments on license obligations (18) (24)
Purchase of L&W common stock (33) (203)
Purchase of SciPlay’s Class A common stock 23 7
Net redemptions of common stock under stock-based compensation plans and other (20) (33)
Net cash used in financing activities from continuing operations (105) (5,186)
Net cash used in financing activities from discontinued operations 0 (3)
Net cash used in financing activities (105) (5,189)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 (6)
(Decrease) increase in cash, cash equivalents and restricted cash (3) 321
Cash, cash equivalents and restricted cash, beginning of period 967 701
Cash, cash equivalents and restricted cash, end of period 964 1,022
Less: Cash, cash equivalents and restricted cash of discontinued operations 0 43
Cash, cash equivalents and restricted cash of continuing operations, end of period 964 979
Supplemental cash flow information:    
Cash paid for interest 147 219
Income taxes paid 96 23
Distributed earnings from equity investments 1 4
Cash paid for contingent consideration included in operating activities 9 0
Supplemental non-cash transactions:    
Non-cash interest expense $ 5 $ 9
[1] (1) The six months ended June 30, 2022 include $5,659 million in gross cash proceeds from the sale of discontinued operations, net of cash, cash equivalents and restricted cash transferred.