Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated and Combined Balance Sheets

v3.20.4
Condensed Consolidated and Combined Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 493 $ 94
Trade receivables, net 295 304
Prepaid expenses 45 48
Other current assets 67 53
Total current assets 900 499
Property and equipment, net 278 307
Goodwill 1,525 1,539
Other non-current assets 226 242
Total assets 4,644 4,533
Current liabilities:    
Current portion of long-term debt 21 21
Accounts payable 28 30
Deferred revenues 71 132
Accrued expenses and other current liabilities 226 279
Total current liabilities 346 462
Long-term debt 2,576 2,101
Deferred income taxes 359 387
Deferred revenues 158 151
Other non-current liabilities 242 220
Total liabilities 3,681 3,321
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, authorized 600.0 shares, 100.8 and 100.6 issued and outstanding at December 31, 2020 and 2019 1 1
Treasury stock, at cost – 7.7 and 6.8 shares at December 31, 2020 and 2019 (408) (363)
Additional paid-in capital 1,504 1,488
Retained earnings/(accumulated deficit) (82) 113
Accumulated other comprehensive loss (52) (27)
Total stockholders’ equity 963 1,212
Total liabilities and stockholders' equity $ 4,644 $ 4,533
Common stock, shares outstanding (in shares) 100,800,000 100,600,000
Trademarks, net    
Current assets:    
Intangible assets, net $ 1,203 $ 1,395
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 512 $ 551