Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated and Combined Balance Sheets

v3.10.0.1
Condensed Consolidated and Combined Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 366 $ 57
Trade receivables, net 293 194
Prepaid expenses 40 29
Other current assets 152 54
Total current assets 851 334
Property and equipment, net 326 250
Goodwill 1,547 423
Other non-current assets 265 187
Total assets 4,976 2,137
Current liabilities:    
Current portion of long-term debt 21 0
Current portion of debt due to former Parent 0 103
Accounts payable 61 38
Deferred income 109 84
Accrued expenses and other current liabilities 502 186
Total current liabilities 693 411
Long-term debt 2,120 0
Debt due to former Parent 0 81
Deferred income taxes 399 173
Deferred income 164 164
Other non-current liabilities 182 46
Total liabilities 3,558 875
Commitments and contingencies (Note 13)
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, 100,360,236 issued as of 2018 and none issued and outstanding as of 2017 1 0
Treasury stock, at cost – 2,269,169 shares in 2018 (119) 0
Additional paid-in capital 1,475 0
Retained earnings 69 0
Former Parent’s net investment 0 1,257
Accumulated other comprehensive income (8) 5
Total stockholders’ equity 1,418 1,262
Total liabilities and equity 4,976 2,137
Trademarks, net    
Current assets:    
Intangible assets, net 1,397 692
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 590 $ 251