Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 66 $ 161
Trade receivables, net 241 234
Prepaid expenses 27 59
Other current assets 39 91
Total current assets 373 545
Property and equipment, net 88 99
Goodwill 1,525 1,525
Other non-current assets 468 348
Total assets 4,033 4,123
Current liabilities:    
Current portion of long-term debt 37 20
Accounts payable 32 39
Deferred revenues 91 83
Accrued expenses and other current liabilities 299 264
Total current liabilities 459 406
Long-term debt 2,164 2,057
Deferred income taxes 325 345
Deferred revenues 167 164
Other non-current liabilities 172 189
Total liabilities 3,287 3,161
Commitments and contingencies (Note 14)
Stockholders’ equity:    
Preferred stock, $0.01 par value, authorized 6.0 shares, none issued and outstanding 0 0
Common stock, $0.01 par value, 102.1 and 101.6 issued at December 31, 2023 and 2022 $ 1 $ 1
Treasury Stock, Common, Shares 20.7 15.2
Treasury stock, at cost – 20.7 and 15.2 shares at December 31, 2023 and 2022 $ (1,361) $ (964)
Additional paid-in capital 1,599 1,569
Retained earnings 488 318
Accumulated other comprehensive income 19 38
Total stockholders’ equity 746 962
Total liabilities and stockholders’ equity 4,033 4,123
Trademarks, net    
Current assets:    
Intangible assets, net 1,232 1,232
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 347 $ 374