Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.21.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
shares in Millions, $ in Millions
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 193 $ 493
Trade receivables, net 290 295
Prepaid expenses 45 45
Other current assets 65 67
Total current assets 593 900
Property and equipment, net 259 278
Goodwill 1,525 1,525
Other non-current assets 247 226
Total assets 4,310 4,644
Current liabilities:    
Current portion of long-term debt 21 21
Accounts payable 32 28
Deferred revenues 79 71
Accrued expenses and other current liabilities 239 226
Total current liabilities 371 346
Long-term debt 2,067 2,576
Deferred income taxes 370 359
Deferred revenues 164 158
Other non-current liabilities 215 242
Total liabilities 3,187 3,681
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, 101.2 and 100.8 issued and outstanding at September 30, 2021 and December 31, 2020 1 1
Treasury stock, at cost – 8.0 and 7.7 shares at September 30, 2021 and December 31, 2020 (436) (408)
Additional paid-in capital 1,527 1,504
Retained earnings/(accumulated deficit) 61 (82)
Accumulated other comprehensive loss (30) (52)
Total stockholders’ equity 1,123 963
Total liabilities and stockholders’ equity $ 4,310 $ 4,644
Treasury stock, shares (in shares) 8.0 7.7
Trademarks, net    
Current assets:    
Intangible assets, net $ 1,202 $ 1,203
Franchise agreements and other intangibles, net    
Current assets:    
Intangible assets, net $ 484 $ 512