Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of gains (loss) on interest rate swap contracts

The following table shows the gain and interest expense recognized on our interest rate swap contracts:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Gain recorded in accumulated other comprehensive loss, net of tax	$	5	$	24	$	8	$	29
Interest income (expense) recorded related to interest rate swap contracts	4		(2)		11		(8)

Schedule of the effect of interest rate swap contracts designated as cash flow hedges

The following table shows the effect of interest rate swap contracts designated as cash flow hedges on interest expense in the consolidated statements of operations:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Total interest expense which reflects the effects of cash flow hedges	$	(78)	$	(68)	$	(231)	$	(254)
Hedged item	(5)		(5)		(15)		(12)
Derivative designated as hedging instrument	9		3		26		4

Fair value of liabilities measured on recurring basis

The following table shows the fair value of our hedges:

		As of
	Balance Sheet Line Item	September 30, 2023		December 31, 2022
Interest rate swaps	Other assets	$	40	$	30

Asset Acquisition, Contingent Consideration

The table below reconciles the change in the contingent acquisition consideration liabilities (including deferred purchase price) for the period from December 31, 2022 to September 30, 2023.

	Total		Included in Accrued Liabilities		Included in Other Long-Term Liabilities
Balance as of December 31, 2022	$	79	$	34	$	45
Payments	(23)
Fair value adjustments(1)	10
Other adjustments(2)	(3)
Balance as of September 30, 2023	$	63	$	44	$	19
(1) Amount included in Restructuring and other (see Note 5).
(2) Primarily represents extinguishment of $3 million in redeemable non-controlling interest liability associated with SciPlay’s acquisition of Alictus Yazilim Anonim Şirketi in 2022, as specified financial targets for the first year were not met. The charge was recorded in other income, net in our consolidated statements of operations.