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Stockholders' Equity (Deficit) (Tables)
 12 Months Ended
Dec. 31, 2023
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,
202320222021
Related to L&W stock options$— $1 $31 
Related to L&W RSUs89 56 75 
Related to SciPlay RSUs(1)
29 12 7 
   Total(2)
$118 $69 $113 
(1) Stock-based compensation expense related to SciPlay RSUs was for awards granted prior to the SciPlay Merger. Upon completion of the SciPlay Merger, these RSUs were converted to awards denominated in L&W shares, as discussed below within SciPlay Long-Term Incentive Plan and Modification.
(2) The years ended December 31, 2023, 2022 and 2021 include $63 million, $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, 2023 and 2022:
 December 31,
 20232022
Shares outstanding as of beginning of period91 97 
Shares issued as part of equity-based compensation plans and the employee stock purchase plan (“ESPP”), net of shares surrendered1 1 
Shares repurchased into treasury stock(2)(7)
Shares outstanding as of end of period90 91 
Share-based Payment Arrangement, Option, Activity
A summary of the changes in stock options outstanding under our equity-based compensation plans during 2023 is presented below:
Number of OptionsWeighted Average Remaining Contract Term (Years)Weighted Average Exercise Price (per share)Aggregate Intrinsic Value
Options outstanding as of December 31, 2022
1.8 3.5$34.40 $45 
Granted— — $— $— 
Exercised(0.3)— $31.81 $14 
Cancelled— — $— $— 
Options outstanding as of December 31, 2023
1.5 3.1$34.98 $72 
Options exercisable as of December 31, 2023
1.5 3.0$34.85 $72 
Options expected to vest as of December 31, 2023
— 7.2$54.56 $— 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The weighted-average assumptions used in the model are outlined in the following table:
20222021
Assumptions:
Expected volatility71 %74 %
Risk-free interest rate3.01 %0.96 %
Dividend yield— — 
Expected life (in years)66
RSUs outstanding under equity-based compensation plans
A summary of the changes in RSUs outstanding under our equity-based compensation plans during 2023 is presented below:
Number of Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2022
1.7 $46.66 
Granted1.2 $59.10 
SciPlay Converted RSUs0.6 $54.57 
Vested(1.0)$45.00 
Cancelled(0.2)$50.38 
Unvested RSUs as of December 31, 2023
2.3 $55.53