Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.25.0.1
Consolidated Balance Sheets - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 103 $ 66
Trade receivables, net 271 241
Prepaid expenses 44 27
Other current assets 49 39
Total current assets 467 373
Property and equipment, net 94 88
Goodwill 1,525 1,525
Other non-current assets 589 468
Total assets 4,223 4,033
Current liabilities:    
Current portion of long-term debt 43 37
Accounts payable 37 32
Deferred revenues 121 91
Accrued expenses and other current liabilities 265 299
Total current liabilities 466 459
Long-term debt 2,420 2,164
Deferred income taxes 332 325
Deferred revenues 169 167
Other non-current liabilities 186 172
Total liabilities 3,573 3,287
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock, $0.01 par value, authorized 6.0 shares, none issued and outstanding 0 0
Common stock, $0.01 par value, 102.8 and 102.1 issued at December 31, 2024 and 2023 $ 1 $ 1
Treasury Stock, Common, Shares 24.8 20.7
Treasury stock, at cost – 24.8 and 20.7 shares at December 31, 2024 and 2023 $ (1,669) $ (1,361)
Additional paid-in capital 1,647 1,599
Retained earnings 654 488
Accumulated other comprehensive income 17 19
Total stockholders’ equity 650 746
Total liabilities and stockholders’ equity 4,223 4,033
Trademarks, net    
Current assets:    
Intangible assets, net 1,230 1,232
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 318 $ 347