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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 82 $ 27
Adjustments to reconcile net income to net cash provided by operating activities 110 138
Changes in working capital accounts, excluding the effects of acquisition 6 32
Change in deferred income taxes and other (27) (12)
Net cash provided by operating activities 171 185
Cash flows from investing activities:    
Capital expenditures 66 53
Other(1) (5) (4) [1]
Net cash used in investing activities (71) (57)
Cash flows from financing activities:    
Payments on long-term debt 0 (6)
Payments of debt issuance and deferred financing costs (2) 0
Payments on license obligations (5) (12)
Purchase of L&W common stock (25) (28)
Purchase of SciPlay’s Class A common stock 0 (8)
Net redemptions of common stock under stock-based compensation plans and other (33) (11)
Net cash used in financing activities (65) (65)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) 0
Increase in cash, cash equivalents and restricted cash 32 63
Cash, cash equivalents and restricted cash, beginning of period 521 967
Cash, cash equivalents and restricted cash, end of period 553 1,030
Supplemental cash flow information:    
Cash paid for interest 63 63
Income taxes paid 8 9
Non-cash interest expense $ 2 $ 3
[1]
(1) The three months ended March 31, 2023 includes $3 million in cash used in discontinued operations.