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Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Deficit
Changes in Stockholders’ Equity
The following tables present certain information regarding our stockholders’ equity as of June 30, 2024 and 2023:
Six Months Ended June 30, 2024
Common StockAdditional Paid in CapitalRetained EarningsTreasury StockAccumulated Other Comprehensive LossTotal
January 1, 2024$1 $1,118 $680 $(751)$(283)$765 
Settlement of liability awards— 65 — — — 65 
Vesting of RSUs, net of tax withholdings and other— (43)— — — (43)
Purchase of treasury stock— — — (25)— (25)
Stock-based compensation— 14 — — — 14 
Net income— — 82 — — 82 
Other comprehensive loss— — — — (23)(23)
March 31, 2024$1 $1,154 $762 $(776)$(306)$835 
Vesting of RSUs, net of tax withholdings and other— 1 — — — 1 
Purchase of treasury stock— — — (151)— (151)
Stock-based compensation— 20 — — — 20 
Net income— — 82 — — 82 
Other comprehensive income— — — — (1)(1)
June 30, 2024$1 $1,175 $844 $(927)$(307)$786 
Six Months Ended June 30, 2023
 Common StockAdditional Paid in CapitalRetained EarningsTreasury StockAccumulated Other Comprehensive LossNoncontrolling InterestTotal
January 1, 2023$1 $1,370 $517 $(580)$(318)$171 $1,161 
Settlement of liability awards— 25 — — — — 25 
Vesting of RSUs, net of tax withholdings and other— (14)— — — — (14)
Purchase of treasury stock— — — (28)— — (28)
Purchase of SciPlay’s Class A common stock— (8)— — — — (8)
Stock-based compensation— 15 — — — — 15 
Net income— — 22 — — 5 27 
Other comprehensive income— — — — 6 — 6 
March 31, 2023$1 $1,388 $539 $(608)$(312)$176 $1,184 
Vesting of RSUs, net of tax withholdings and other— 1 — — — — 1 
Purchase of treasury stock— — — (5)— — (5)
Purchase of SciPlay’s Class A common stock— (15)— — — — (15)
Stock-based compensation— 13 — — — — 13 
Net (loss) income— — (1)— — 6 5 
Other comprehensive income— — — — 47 — 47 
June 30, 2023$1 $1,387 $538 $(613)$(265)$182 $1,230 
Stock-based Compensation
The following reflects total stock-based compensation expense recognized under all programs:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Related to L&W RSUs$31 $21 $53 $40 
Related to SciPlay RSUs— 7 — 14 
   Total(1)
$31 $28 $53 $54 
(1) Includes $11 million and $19 million of stock-based compensation classified as liability awards for the three and six months ended June 30, 2024, respectively, and $15 million and $26 million for the three and six months ended June 30, 2023, respectively.
Restricted Stock Units
A summary of the changes in RSUs outstanding under our equity-based compensation plans during the six months ended June 30, 2024 is presented below:
Number of Restricted Stock UnitsWeighted Average Grant Date Fair Value
Unvested RSUs as of December 31, 2023
2.3 $55.53 
Granted1.4 $99.57 
Vested(1.3)$72.70 
Cancelled(0.1)$56.12 
Unvested RSUs as of June 30, 2024
2.3 $71.90 
The weighted-average grant date fair value of RSUs granted during the six months ended June 30, 2024 and 2023 was $99.57 and $57.15, respectively. The fair value of each RSU grant is based on the market value of our common stock at the time of grant. As of June 30, 2024, we had $125 million of unrecognized stock-based compensation expense relating to
unvested RSUs amortized over a weighted-average period of approximately 1.3 years. The fair value at vesting date of RSUs vested during the six months ended June 30, 2024 and 2023 was $130 million and $51 million, respectively.
Share Repurchase Program
On March 1, 2022, our Board of Directors approved a share repurchase program under which the Company is authorized to repurchase, from time to time through February 25, 2025, up to an aggregate amount of $750 million of shares of our outstanding common stock. During the six months ended June 30, 2024, we repurchased approximately 1.8 million shares of common stock under these programs at an aggregate cost of $176 million (including excise tax), fully exhausting the authorized share repurchase amount under the program. On June 11, 2024, our Board of Directors approved a new share repurchase program under which the Company is authorized to repurchase, from time to time through June 12, 2027, up to an aggregate amount of $1.0 billion of shares of our outstanding common stock. Repurchases under the new share repurchase program may be effected at the discretion of the Transaction Committee of the Board of Directors through one or more open market repurchases, privately negotiated transactions, including block trades, accelerated share repurchases, issuer tender offers or other derivative contracts or instruments, “10b5-1” plan, or other financial or other arrangements, or a combination of the foregoing. The share repurchase program may be suspended or discontinued at any time. We had no repurchases under the new plan during the quarter ended June 30, 2024.