Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.24.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 72 $ 66
Trade receivables, net 286 241
Prepaid expenses 40 27
Other current assets 47 39
Total current assets 445 373
Property and equipment, net 78 88
Goodwill 1,525 1,525
Other non-current assets 547 468
Total assets 4,154 4,033
Current liabilities:    
Current portion of long-term debt 47 37
Accounts payable 62 32
Deferred revenues 98 91
Accrued expenses and other current liabilities 252 299
Total current liabilities 459 459
Long-term debt 2,440 2,164
Deferred income taxes 314 325
Deferred revenues 165 167
Other non-current liabilities 193 172
Total liabilities 3,571 3,287
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, $0.01 par value, authorized 6.0 shares, none issued and outstanding 0 0
Common stock, $0.01 par value, 102.7 and 102.1 issued as of September 30, 2024 and December 31, 2023 1 1
Treasury stock, at cost – 24.5 and 20.7 shares as of September 30, 2024 and December 31, 2023 (1,646) (1,361)
Additional paid-in capital 1,628 1,599
Retained earnings 600 488
Accumulated other comprehensive income 0 19
Total stockholders’ equity 583 746
Total liabilities and stockholders’ equity 4,154 4,033
Trademarks, net    
Current assets:    
Intangible assets, net 1,233 1,232
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 326 $ 347