Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Balance Sheets

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Condensed Consolidated and Combined Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 387 $ 57
Trade receivables, net 309 194
Prepaid expenses 41 29
Other current assets 113 54
Total current assets 850 334
Property and equipment, net 331 250
Goodwill 1,513 423
Other non-current assets 267 187
Total assets 4,991 2,137
Current liabilities:    
Current portion of long-term debt 21 0
Current portion of debt due to former Parent 0 103
Accounts payable 74 38
Deferred income 75 84
Accrued expenses and other current liabilities 532 186
Total current liabilities 702 411
Long-term debt 2,124 0
Debt due to former Parent 0 81
Deferred income taxes 400 173
Deferred income 172 164
Other non-current liabilities 150 46
Total liabilities 3,548 875
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $.01 par value, authorized 6,000,000 shares, none issued and outstanding 0 0
Common stock, $.01 par value, authorized 600,000,000 shares, 100,149,475 issued as of 2018 and none issued and outstanding as of 2017 1 0
Treasury stock, at cost – 1,023,472 shares in 2018 (59) 0
Additional paid-in capital 1,446 0
Retained earnings 51 0
Former Parent’s net investment 0 1,257
Accumulated other comprehensive income 4 5
Total stockholders’ equity 1,443 1,262
Total liabilities and equity 4,991 2,137
Trademarks, net    
Current assets:    
Intangible assets, net 1,445 692
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 585 $ 251