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Discontinued Operations | 3 Months Ended
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Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | As described in Note 1, we have reflected the Lottery and Sports Betting Businesses as discontinued operations in our consolidated statements of operations and reflected the assets and liabilities of these businesses as held for sale in our consolidated balance sheets, for all periods presented. The summarized results of our discontinued operations were as follows:
| Three Months Ended March 31, |  |
| 2022 |  | 2021 |  |  |  |
Total revenue | $ | 288 |  |  | $ | 276 |  |  |  |  |
Total cost of revenue(1) | 150 |  |  | 139 |  |  |  |  |
Other operating expenses(2) | 41 |  |  | 60 |  |  |  |  |
Operating income | 97 |  |  | 77 |  |  |  |  |
Total other income, net | 8 |  |  | 2 |  |  |  |  |
Net income from discontinued operations before income taxes | 105 |  |  | 79 |  |  |  |  |
Income tax expense | (10) |  |  | — |  |  |  |  |
Net income from discontinued operations, net of tax included in the consolidated statement of operations | $ | 95 |  |  | $ | 79 |  |  |  |  |
(1) Excludes D&A.
(2) Includes D&A of $— million and $26 million for the three months ended March 31, 2022 and 2021, respectively, along with stock-based compensation of $7 million and $4 million for the three months ended March 31, 2022 and 2021, respectively. Due to the discontinued operations classification of these businesses as of the third quarter of 2021, the D&A for these businesses has ceased.
The following table summarizes the major classes of assets and liabilities of businesses held for sale.
| As of
| March 31, 2022 |  | December 31, 2021
ASSETS |  |  |
Cash and cash equivalents | $ | 86 |  |  | $ | 44 |
Restricted cash | 31 |  |  | 22 |
Receivables, net | 194 |  |  | 214 |
Inventories | 113 |  |  | 94 |
Prepaid expenses deposits and other current assets | 134 |  |  | 123 |
Total current assets of businesses held for sale | 558 |  |  | 497 |
Property and equipment, net | 229 |  |  | 217 |
Intangible assets and software, net | 334 |  |  | 304 |
Goodwill | 623 |  |  | 623 |
Equity investments | 249 |  |  | 251 |
Other assets | 82 |  |  | 82 |
Total non-current assets of businesses held for sale | 1,517 |  |  | 1,477 |
Total assets of businesses held for sale | $ | 2,075 |  |  | $ | 1,974 |
LIABILITIES |  |  |
Accounts payable | $ | 103 |  |  | $ | 95 |
Accrued liabilities and other | 197 |  |  | 187 |
Total current liabilities of businesses held for sale | 300 |  |  | 282 |
Operating lease liabilities | 37 |  |  | 34 |
Other | 99 |  |  | 90 |
Total non-current liabilities of businesses held for sale | 136 |  |  | 124 |
Total liabilities of businesses held for sale | $ | 436 |  |  | $ | 406 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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