Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 735 $ 94
Trade receivables, net 324 304
Prepaid expenses 42 48
Other current assets 39 53
Total current assets 1,140 499
Property and equipment, net 284 307
Goodwill 1,525 1,539
Other non-current assets 220 242
Total assets 4,894 4,533
Current liabilities:    
Current portion of long-term debt 21 21
Accounts payable 41 30
Deferred revenues 78 132
Accrued expenses and other current liabilities 241 279
Total current liabilities 381 462
Long-term debt 2,814 2,101
Deferred income taxes 323 387
Deferred revenues 161 151
Other non-current liabilities 252 220
Total liabilities 3,931 3,321
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $0.01 par value, authorized 6.0 shares, none issued and outstanding 0 0
Common stock, $0.01 par value, authorized 600.0 shares, 100.8 and 100.6 issued and outstanding at September 30, 2020 and December 31, 2019 1 1
Treasury stock, at cost – 7.7 and 6.8 shares at September 30, 2020 and December 31, 2019 (408) (363)
Additional paid-in capital 1,498 1,488
Retained earnings/(accumulated deficit) (66) 113
Accumulated other comprehensive loss (62) (27)
Total stockholders’ equity 963 1,212
Total liabilities and stockholders' equity 4,894 4,533
Trademarks, net    
Current assets:    
Intangible assets, net 1,203 1,395
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 522 $ 551