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Acquisitions - Schedule of Business Acquisitions (Details)
$ in Millions
12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Business Combination, Consideration Transferred [Abstract]      
Cash paid, net of cash acquired $ 4 $ 136 $ 186
Contingent consideration $ 59 79  
Allocation of purchase price to Intangible assets, net [1]     87
Excess purchase price allocated to Goodwill   $ 101  
Aggregate Total, Total Consideration     358
Aggregate Total, Cash paid, net of cash acquired     204
Aggregate total, contingent consideration [2]     70
Aggregate total, allocation of purchase price to Intangible assets, net [3]     268
Sport Cast Pty Limited      
Business Combination, Consideration Transferred [Abstract]      
Fair Value, Option, Changes in Fair Value, Gain (Loss)     $ 63
Minimum      
Business Combination, Consideration Transferred [Abstract]      
Business combination, contingent consideration, discount rate   0.02  
Discount rate     15.00%
Royalty rate     1.00%
Maximum      
Business Combination, Consideration Transferred [Abstract]      
Business combination, contingent consideration, discount rate   0.16  
Discount rate     29.00%
Royalty rate     52.00%
Maximum | Acquisitions During Period      
Business Combination, Consideration Transferred [Abstract]      
Maximum contingent consideration payout   $ 213  
Measurement Input, Discount Rate | Sport Cast Pty Limited      
Business Combination, Consideration Transferred [Abstract]      
Business Combination, Valuation Analysis, Discount Rate     15.00%
Measurement Input, Discount Rate | Minimum      
Business Combination, Consideration Transferred [Abstract]      
Discount rate   16.00%  
Measurement Input, Discount Rate | Maximum      
Business Combination, Consideration Transferred [Abstract]      
Discount rate   18.00%  
Game Content and Technology | Royalty | Minimum      
Business Combination, Consideration Transferred [Abstract]      
Royalty rate   20.00%  
Game Content and Technology | Royalty | Maximum      
Business Combination, Consideration Transferred [Abstract]      
Royalty rate   21.00%  
Trade Names | Royalty | Minimum      
Business Combination, Consideration Transferred [Abstract]      
Royalty rate   1.00%  
Trade Names | Royalty | Maximum      
Business Combination, Consideration Transferred [Abstract]      
Royalty rate   3.00%  
Continuing Operations      
Business Combination, Consideration Transferred [Abstract]      
Total consideration   $ 171 $ 252
Cash paid, net of cash acquired     186
Cash paid, net of cash acquired [4]   133  
Contingent consideration   25 [5] 45 [2]
Allocation of purchase price to Intangible assets, net   $ 64 [6] $ 52 [1]
Weighted average useful life of acquired intangible assets   6 years 6 years 4 months 24 days
Excess purchase price allocated to Goodwill   $ 101 [7] $ 191 [3]
Consideration, short term investments   $ 6  
Discontinued Operations      
Business Combination, Consideration Transferred [Abstract]      
Total consideration [8]     106
Cash paid, net of cash acquired [8]     18
Contingent consideration [2],[8]     25
Allocation of purchase price to Intangible assets, net [1],[8]     $ 35
Weighted average useful life of acquired intangible assets [8]     6 years
Excess purchase price allocated to Goodwill [3],[8]     $ 77
[1]
(2) Intangible assets primarily consist of technology-based and customer relationship intangible assets. The fair value of these intangible assets was determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rates and royalty rates used in the valuation analyses ranged between 15% and 29% and 1% and 52%, respectively.
[2]
(1) Contingent acquisition consideration values are primarily based on reaching certain earnings-based metrics and were determined by fair value and included in the consideration transferred. The fair value was primarily determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820.
[3] (3) The factors contributing to the recognition of acquisition goodwill are based on customer offering diversification, expected synergies, assembled workforce and other strategic benefits. None of the resultant goodwill is expected to be deductible for income tax purposes.
[4]
(1) Exclusive of $6 million acquired in short term investments.
[5]
(2) Fair values were determined using an income approach primarily based on reaching certain revenue and earnings-based metrics, with discount rates ranging between 2% and 16% and a maximum payout of up to $213 million.
[6]
(3) Intangible assets primarily consist of intellectual property, consisting of games technology and content platforms, and trade names. For those acquired in business combinations, the fair value of these intangible assets was determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rates used in the valuation analyses ranged between 16% and 18%. Royalty rates used for the trade names as well as acquired game content and related technology ranged between 1% and 3% and 20% and 21%, respectively.
[7] (4) The factors contributing to the recognition of acquisition goodwill are based on game portfolio and platform diversification, expected synergies, assembled workforce and other strategic benefits. None of the resultant goodwill is expected to be deductible for income tax purposes.
[8]
(4) The SportCast acquisition’s total consideration transferred included a $63 million increase in fair value of the option agreement to acquire SportCast, which resulted in a $63 million gain recorded in Net income from discontinued operations, net of tax, in our consolidated statements of operations for the year ended December 31, 2021. The fair value of the option was determined using an income approach method and level 3 inputs in the hierarchy as established by ASC 820. The discount rate used in the valuation analyses was 15%.