0001828016-24-000029 | 10-Q | XBRL Viewer

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INTEREST AND OTHER, NET (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
INTEREST AND OTHER, NET (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Interest expense	$ 38.9	$ 35.8	$ 77.9	$ 73.8
Interest income	(13.7)	(10.3)	(26.7)	(18.1)
Foreign currency translation differences, net	(4.8)	(2.4)	(7.6)	(4.2)
Other	0.0	0.0	0.0	0.2
Total interest and other, net	$ 20.4	$ 23.1	$ 43.6	$ 51.7

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities at June 30, 2024 and December 31, 2023 were as follows (in millions):


	June 30, 2024		December 31, 2023
Employees and related expenses	$	121.8	$	162.5
Accrued expenses	83.2		93.9
Media buy	64.8		54.5
Deferred revenues	40.0		46.0
Dividend payable	37.2		—
Tax accruals	34.2		35.4
Contingent consideration	31.4		46.0

Total accrued expenses and other current liabilities	$	412.6	$	438.3

DEBT

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

DEBT


	June 30, 2024						December 31, 2023
(in millions, except interest rates)	Maturity	Interest rate	Book value		Face value		Book value

Term Loan	2028	8.210%	$	1,816.4	$	1,843.0	$	1,822.8
Senior Notes	2029	4.250%	594.1		600.0		593.6
Revolving Credit Facility	2026	n/a	—		—		—
Total debt			2,410.5		2,443.0		2,416.4
Less: Current portion of long-term debt			(16.5)		(23.8)		(16.8)
Long-term debt			$	2,394.0	$	2,419.2	$	2,399.6

Book value of debt in the table above is reported net of deferred financing costs and original issue discount of $32.5 million and $36.1 million at June 30, 2024 and December 31, 2023, respectively.

Credit Agreement

The Company has a $1.9 billion senior secured first lien term loan (the “Term Loan”) and a $600 million revolving credit facility (the “Revolving Credit Facility”) (together, the “Credit Agreement”), maturing on March 11, 2028 and March 11, 2026, respectively. The Term Loan requires quarterly principal payments equal to 0.25% of the original aggregate principal amount of the Term Loan with balance due at maturity.

The Revolving Credit Facility includes a maximum first-priority net senior secured leverage ratio financial maintenance covenant of 6.25 to 1.0. At June 30, 2024, the Company’s first-priority net senior secured leverage ratio was 0.96 to 1.0.

The Company was in compliance with its financial and other covenants under the Credit Agreement as of June 30, 2024.

The other significant terms and conditions of the Credit Agreement have not changed from what was disclosed in Note 12, Debt in our Annual Report on Form 10-K filed with the SEC on February 26, 2024.

Offering of 4.250% Senior Notes due 2029

Indenture

On March 11, 2021, the Company issued $600.0 million aggregate principal amount of its 4.250% senior notes due 2029 (the “Notes”) under an indenture, dated March 11, 2021 (the “Indenture”), among the Company, the subsidiary guarantors party thereto and Wilmington Trust, National Association, as trustee (the “Trustee”).

Maturity and Interest

The Notes mature on March 15, 2029. Interest on the Notes will accrue at a rate of 4.250% per annum. Interest on the Notes is payable semi-annually in cash in arrears on March 15 and September 15 of each year.

The significant terms and conditions of the Notes have not changed from what was disclosed in Note 12, Debt in our Annual Report on Form 10-K filed with the SEC on February 26, 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 627.0	$ 642.8	$ 1,278.2	$ 1,299.0
Third-party platforms
Disaggregation of Revenue [Line Items]
Revenues	453.3	477.5	933.0	982.2
Direct-to-consumer platforms
Disaggregation of Revenue [Line Items]
Revenues	173.7	165.3	345.2	316.8
USA
Disaggregation of Revenue [Line Items]
Revenues	425.0	452.9	865.2	914.2
EMEA
Disaggregation of Revenue [Line Items]
Revenues	115.8	102.1	237.4	207.1
APAC
Disaggregation of Revenue [Line Items]
Revenues	42.5	44.8	86.7	90.9
Other
Disaggregation of Revenue [Line Items]
Revenues	$ 43.7	$ 43.0	$ 88.9	$ 86.8

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

COVER - shares	6 Months Ended
COVER - shares	Jun. 30, 2024	Aug. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-39896
Entity Registrant Name	PLAYTIKA HOLDING CORP.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3634591
Entity Address, Address Line One	c/o Playtika Ltd.
Entity Address, Address Line Two	HaChoshlim St 8
Entity Address, City or Town	Herzliya Pituach
Entity Address, Country	IL
City Area Code	972-73
Local Phone Number	316-3251
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PLTK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		371,978,224
Entity Central Index Key	0001828016
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Employee Related Benefits (Details) - Retention Pool - 2021-2024 Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Organization and Summary of Significant Accounting Polices [Line Items]
Deferred compensation arrangement with individual, contributions by employer			$ 25.0
Deferred compensation arrangement with individual, compensation expense	$ 23.3	$ 29.1	$ 46.2	$ 58.9

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands, ₪ in Millions	Jul. 26, 2024 claim	Jun. 01, 2024 claim	Nov. 13, 2023 USD ($)	Aug. 25, 2023 USD ($)	Mar. 08, 2023	May 17, 2022 ILS (₪)	Jul. 26, 2023 USD ($)
Loss Contingencies [Line Items]
Accrued loss contingency							$ 3,600
Number of claims \| claim		5,264
Subsequent Event
Loss Contingencies [Line Items]
Number of claims \| claim	4,549
Guy David Ben Yosef vs. Playtika Group Israel Ltd
Loss Contingencies [Line Items]
Exposure period						7 years
Net income stock damages \| ₪						₪ 50
Gina v. Burt vs Playtika Ltd.
Loss Contingencies [Line Items]
Lawsuit recover during the period			1 year
Lawsuit coverage			$ 75
Gayla Hamilton Mills vs. Playtika Ltd.
Loss Contingencies [Line Items]
Lawsuit recover during the period				1 year	1 year
Lawsuit coverage				$ 75

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	$ 120.3	$ 116.1	$ 195.2	$ 239.9
Provision for income taxes	$ 33.7	$ 40.4	$ 55.6	$ 80.1
Effective tax rate	28.00%	34.80%	28.50%	33.40%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Major Accounts Receivable (Details) - Customer Concentration Risk - Accounts Receivable	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Apple
Organization and Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage	58.00%	56.00%
Google
Organization and Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage	26.00%	28.00%
Facebook
Organization and Summary of Significant Accounting Policies [Line Items]
Concentration risk percentage	4.00%	4.00%

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss), Net of Tax Expense/(Benefits) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax expense (benefit)	$ (0.3)	$ 4.5	$ 2.2	$ 2.0
Foreign currency
Accumulated Other Comprehensive Income (Loss) [Line Items]
Tax expense (benefit)	$ (0.4)	$ 0.1	$ (0.9)	$ 0.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

DERIVATIVE INSTRUMENTS

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS

Interest Rate Swap Agreements

In March 2021, the Company entered into two interest rate swap agreements, each with a notional value of $250 million. Each of these swap agreements is with a different financial institution as the counterparty to reduce the Company’s counterparty risk. The initial terms of each swap required the Company to pay a fixed interest rate of 0.9275% in exchange for receiving one-month LIBOR. In June 2023 these two interest rate swap agreements were amended so that effective July 31, 2023, the Company will pay a fixed interest rate of 0.85% in exchange for receiving one-month Term SOFR. The amendment did not impact the hedge effectiveness.

The interest rate swap agreements settle monthly commencing in April 2021 through their termination dates on April 30, 2026. The estimated fair value of the Company’s interest rate swap agreements is derived from a discounted cash flow analysis.

In January 2023, the Company entered into two interest rate swap agreements, each with a notional value of $250 million. Each of these swap agreements is with a different financial institution, and each swap requires the Company to pay a fixed interest rate of 3.435% in exchange for receiving one-month LIBOR for six months and one-month Term SOFR afterwards. The interest rate swap agreements settle monthly commencing in February 2023 through their termination dates on February 28, 2028. The estimated fair value of the Company’s interest rate swap agreements is derived from a discounted cash flow analysis.

The aggregate fair value of the Company’s interest rate swap agreements was an asset of $45.5 million as of June 30, 2024 and was recorded in prepaid expenses and other current assets and other non-current assets in the accompanying consolidated balance sheets based upon the timing of the underlying expected cash flows.

Foreign currency hedge agreements

At June 30, 2024, the Company had outstanding derivative contracts to purchase certain foreign currencies, including EUR, ILS, RON, and PLN at future dates. The amount of future salary expenses the Company had hedged was approximately $207.9 million, and all contracts are expected to mature during the upcoming 12 months. The aggregate fair value of the Company’s derivative contracts was a net liability of $2.3 million as of June 30, 2024 and was recorded in prepaid expenses and other current assets and accrued expenses and other current liabilities in the accompanying consolidated balance sheets.

The following table summarizes the volume of derivative instrument activity (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Derivative instruments - foreign currency derivative contracts	$	65.4	$	54.0	$	105.4	$	92.7
Derivative instruments - interest rate swaps	—		—		—		500.0
Derivative instruments - others (non-hedging)	—		(0.3)		—		1.6

REVENUE FROM CONTRACTS WITH CUSTOMERS

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

The following table provides information about disaggregated revenue by geographic location of the Company’s players and type of platform (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Geographic location
USA	$	425.0	$	452.9	$	865.2	$	914.2
EMEA	115.8		102.1		237.4		207.1
APAC	42.5		44.8		86.7		90.9
Other	43.7		43.0		88.9		86.8
Total	$	627.0	$	642.8	$	1,278.2	$	1,299.0

Revenues through third-party platforms and through the Company’s own direct-to-consumer platforms were as follows (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023

Third-party platforms	$	453.3	$	477.5	$	933.0	$	982.2
Direct-to-consumer platforms	173.7		165.3		345.2		316.8
Total revenues	$	627.0	$	642.8	$	1,278.2	$	1,299.0

Contract balances

Payments from players for virtual items are collected by platform providers or payment processors and remitted to the Company (net of the platform or clearing fees) generally within 30 days after the player transaction. The Company’s right to receive the payments collected by the platform providers or payment processors is recorded as an accounts receivable as the right to receive payment is unconditional. Deferred revenues, which represent a contract liability, represent mostly unrecognized fees billed for virtual items which have not yet been consumed at the balance sheet date. Platform fees paid to platform providers or payment processors and associated with deferred revenues represent a contract asset.

Balances of the Company’s contract assets and liabilities are as follows (in millions):


	June 30, 2024		December 31, 2023
Accounts receivable	$	160.0	$	171.5
Contract assets (1)	10.9		12.5
Contract liabilities (2)	40.0		46.0

_______

(1) Contract assets are included within prepaid expenses and other current assets in the Company’s consolidated balance sheets.

(2) Contract liabilities are included within accrued expenses and other current liabilities as “deferred revenues” in the Company’s consolidated balance sheets.

During the three and six months ended June 30, 2024, the Company recognized $10.3 million and $33.7 million, respectively, of its contract liabilities that were outstanding as of December 31, 2023.

Unsatisfied performance obligations

Substantially all of the Company’s unsatisfied performance obligations relate to contracts with an original expected length of one year or less.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

6 Months Ended

Jun. 30, 2024

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities at June 30, 2024 and December 31, 2023 were as follows (in millions):


	June 30, 2024		December 31, 2023
Employees and related expenses	$	121.8	$	162.5
Accrued expenses	83.2		93.9
Media buy	64.8		54.5
Deferred revenues	40.0		46.0
Dividend payable	37.2		—
Tax accruals	34.2		35.4
Contingent consideration	31.4		46.0

Total accrued expenses and other current liabilities	$	412.6	$	438.3

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 86.6	$ 53.0	$ 75.7	$ 84.1	$ 139.6	$ 159.8

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

DERIVATIVE INSTRUMENTS - Schedule of Derivative Instrument Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Designated as Hedging Instrument \| Foreign currency derivative contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments	$ 65.4	$ 54.0	$ 105.4	$ 92.7
Designated as Hedging Instrument \| Derivative instruments - interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments	0.0	0.0	0.0	500.0
Not Designated as Hedging Instrument \| Derivative instruments - others (non-hedging)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative instruments	$ 0.0	$ (0.3)	$ 0.0	$ 1.6

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Amendment to Stock Purchase Agreement (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Sep. 14, 2023	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 18, 2024
Organization and Summary of Significant Accounting Polices [Line Items]
Change in earnout liability			$ 13.4	$ 0.0
G.S InnPlay Labs
Organization and Summary of Significant Accounting Polices [Line Items]
Cash consideration	$ 80.0
Maximum earnout payments	$ 220.0				$ 170.0
Earnout period	2 years
Change in earnout liability		$ 16.2

SEGMENT INFORMATION - Schedule of Long-Lived Assets By Country of Domicile (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total long-lived assets, net	$ 206.2	$ 220.2
Israel
Segment Reporting Information [Line Items]
Total long-lived assets, net	86.4	94.0
USA
Segment Reporting Information [Line Items]
Total long-lived assets, net	64.0	64.8
Ukraine
Segment Reporting Information [Line Items]
Total long-lived assets, net	18.6	21.8
Other
Segment Reporting Information [Line Items]
Total long-lived assets, net	$ 37.2	$ 39.6

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT - USD ($)
shares in Millions, $ in Millions

Total

Share capital

Treasury stock

Additional paid-in capital

Accumulated other comprehensive income (loss)

Retained earnings (Accumulated deficit)

Beginning balance (in shares) at Dec. 31, 2022

363.6

Beginning balance at Dec. 31, 2022

$ (568.6)

$ 4.1

$ (603.5)

$ 1,155.8

$ 17.6

$ (1,142.6)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

84.1

Stock-based compensation

29.8

Issuance of shares upon vesting of RSUs and PSUs (in shares)

2.0

Issuance of shares upon vesting of RSUs and PSUs (less than or equal)

0.0

$ 0.1

^[1]

(0.1)

^[1]

Income tax withholding related to vesting of restricted stock units and other

(1.3)

Other comprehensive income (loss)

(4.7)

Ending balance (in shares) at Mar. 31, 2023

365.6

Ending balance at Mar. 31, 2023

(460.7)

$ 4.1

(603.5)

1,184.3

12.9

(1,058.5)

Beginning balance (in shares) at Dec. 31, 2022

363.6

Beginning balance at Dec. 31, 2022

(568.6)

$ 4.1

(603.5)

1,155.8

17.6

(1,142.6)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

159.8

Other comprehensive income (loss)

9.9

Ending balance (in shares) at Jun. 30, 2023

366.3

Ending balance at Jun. 30, 2023

(344.9)

$ 4.1

(603.5)

1,209.8

27.5

(982.8)

Beginning balance (in shares) at Mar. 31, 2023

365.6

Beginning balance at Mar. 31, 2023

(460.7)

$ 4.1

(603.5)

1,184.3

12.9

(1,058.5)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

75.7

Stock-based compensation

26.1

Issuance of shares upon vesting of RSUs and PSUs (in shares)

0.7

Issuance of shares upon vesting of RSUs and PSUs (less than or equal)

^[1]

$ 0.1

(0.1)

Income tax withholding related to vesting of restricted stock units and other

(0.6)

Other comprehensive income (loss)

14.6

Ending balance (in shares) at Jun. 30, 2023

366.3

Ending balance at Jun. 30, 2023

$ (344.9)

$ 4.1

(603.5)

1,209.8

27.5

(982.8)

Beginning balance (in shares) at Dec. 31, 2023

370.0

Beginning balance at Dec. 31, 2023

$ (221.5)

$ 4.1

(603.5)

1,264.9

20.6

(907.6)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

53.0

Cash dividend declared

(37.1)

Stock-based compensation

24.2

Issuance of shares upon vesting of RSUs and PSUs (in shares)

1.0

Issuance of shares upon vesting of RSUs and PSUs (less than or equal)

0.0

$ 0.1

^[1]

(0.1)

^[1]

Income tax withholding related to vesting of restricted stock units and other

(0.7)

Other comprehensive income (loss)

1.7

Ending balance (in shares) at Mar. 31, 2024

371.0

Ending balance at Mar. 31, 2024

$ (180.4)

$ 4.1

(603.5)

1,288.4

22.3

(891.7)

Beginning balance (in shares) at Dec. 31, 2023

370.0

Beginning balance at Dec. 31, 2023

$ (221.5)

$ 4.1

(603.5)

1,264.9

20.6

(907.6)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

139.6

Other comprehensive income (loss)

$ (3.1)

Ending balance (in shares) at Jun. 30, 2024

371.9

Ending balance at Jun. 30, 2024

$ (112.9)

$ 4.1

(603.5)

1,311.3

17.5

(842.3)

Beginning balance (in shares) at Mar. 31, 2024

371.0

Beginning balance at Mar. 31, 2024

(180.4)

$ 4.1

(603.5)

1,288.4

22.3

(891.7)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

86.6

Cash dividend declared

(37.2)

Stock-based compensation

23.5

Issuance of shares upon vesting of RSUs and PSUs (in shares)

0.9

Issuance of shares upon vesting of RSUs and PSUs (less than or equal)

0.0

$ 0.1

^[1]

(0.1)

^[1]

Income tax withholding related to vesting of restricted stock units and other

(0.6)

Other comprehensive income (loss)

$ (4.8)

(4.8)

Ending balance (in shares) at Jun. 30, 2024

371.9

Ending balance at Jun. 30, 2024

$ (112.9)

$ 4.1

$ (603.5)

$ 1,311.3

$ 17.5

$ (842.3)

[1]	Represents an amount less than 0.1 or $0.1

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurement of the Long-term Debt

The following table summarizes the fair value measurement of the Company’s long-term debt (in millions):


	June 30, 2024
	Face Value		Fair Value		Fair Value Hierarchy
Term Loan	$	1,843.0	$	1,843.0	Level 2
Senior Notes	600.0		522.0		Level 2
Total debt	$	2,443.0	$	2,365.0


	December 31, 2023
	Face Value		Fair Value		Fair Value Hierarchy
Term Loan	$	1,852.5	$	1,847.9	Level 2
Senior Notes	600.0		525.8		Level 2
Total debt	$	2,452.5	$	2,373.7

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the assets and liabilities measured at fair value on a recurring basis in the Company’s consolidated balance sheets at June 30, 2024 and December 31, 2023 (in millions):


	Fair Value at
	Fair Value Hierarchy	June 30, 2024		December 31, 2023
Cash equivalents
Money market funds	Level 1	$	346.2	$	524.4
Term deposits	Level 1	66.2		290.3
Commercial papers	Level 2	129.6		104.8

Short-term investments
Term deposits	Level 1	132.8		—
Commercial papers	Level 2	257.3		—

Prepaid expenses and other current assets
Derivative instruments - interest rate swaps	Level 2	$	27.8	$	25.3
Derivative instruments - foreign currency derivative contracts	Level 2	0.9		4.3



Other non-current assets
Derivative instruments - interest rate swaps	Level 2	$	17.7	$	15.2


Accrued expenses and other current liabilities
Derivative instruments - foreign currency derivative contracts	Level 2	$	3.2	$	0.9

Other long-term liabilities, including employee related benefits
Derivative instruments - interest rate swaps	Level 2	$	—	$	4.4

Schedule of Fair Value of Contingent Consideration Payable

The change in fair value of contingent consideration payable was valued using significant unobservable inputs (Level 3), was included in the general and administrative expenses in the Company’s consolidated statements of comprehensive income and consisted of the following (in millions):


Balance as of January 1, 2024	$	66.8

Fair value adjustments based upon post-acquisition performance	(13.4)
Balance as of June 30, 2024(1)	$	53.4

__________

(1) Amount comprised of $51.0 million and $2.4 million for InnPlay and Youda Games acquisitions, respectively.

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of credit risk and significant customers (Details)	6 Months Ended
	Jun. 30, 2024 platform
Accounting Policies [Abstract]
Number of platforms	3

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN - Narrative (Details) - USD ($)		3 Months Ended			6 Months Ended
	Apr. 05, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 09, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		47,954,177			47,954,177
Number of shares available for grant (in shares)		15,447,480			15,447,480
Cash dividend paid (in dollars per share)	$ 0.10
Cash dividend declared (in dollars per share)	$ 0.10	$ 0.10	$ 0.10
Dividend payable		$ 37,200,000			$ 37,200,000			$ 0
Share repurchase program, authorized, amount							$ 150,000,000
Capitalization of stock-based compensation costs		600,000		$ 800,000	1,100,000	$ 1,400,000
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expenses		0			$ 0
PSUs \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage					100.00%
PSUs \| Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage					100.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expenses		3,100,000			$ 3,100,000
Weighted average period					1 year 4 months 24 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expenses		$ 177,800,000			$ 177,800,000
Weighted average period					2 years 9 months 18 days

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of business and organization

Playtika Holding Corp. (“Playtika”) and its subsidiaries (together with Playtika, the “Company”) is one of the world’s leading developers of mobile games creating fun, innovative experiences that entertain and engage its users. It has built best-in-class live game operations services and proprietary technology tools to support its portfolio of games which enable it to drive strong user engagement and monetization. The Company’s games are free-to-play, and the Company seeks to provide novel, curated in-game content and offers to its users, at optimal points in their game journeys to drive user engagement and monetization.

Basis of presentation and consolidation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and include Playtika and all subsidiaries in which the Company has a controlling financial interest. Control generally equates to ownership percentage, whereby (i) affiliates that are more than 50% owned are consolidated; (ii) investments in affiliates of 50% or less but greater than 20% are generally accounted for using the equity method where the Company has determined that it has significant influence over the entities; and (iii) investments in affiliates of 20% or less are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer.

The significant accounting policies referenced in the annual consolidated financial statements of the Company as of December 31, 2023 have been applied consistently in these unaudited interim consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been recorded within the accompanying financial statements, consisting of normal, recurring adjustments, and all intercompany balances and transactions have been eliminated in the consolidation. Certain amounts in the consolidated financial statements for the previous years have been reclassified to be consistent with current year presentation. These reclassifications had no effect on previously reported net income. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 26, 2024.

Use of estimates

The preparation of the interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Amendment to Stock Purchase Agreement

On September 14, 2023, the Company entered into a Share Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company agreed to acquire all of the issued and outstanding share capital of G.S InnPlay Labs Ltd. (“InnPlay”) for an aggregate purchase price equal to (i) $80 million, subject to customary closing adjustments, and (ii) earnout payments of up to $220 million, the amounts of which will be based on certain revenue growth performance metrics of InnPlay during the two years following the closing of the transaction. On June 18, 2024, the Company and InnPlay signed the first amendment to the Purchase Agreement which reduces the maximum cap on the total earnout from $220 million to $170 million and adjusted certain of the associated underlying performance metrics. The Company recorded $16.2 million of income to general

and administrative expense during the quarter ended June 30, 2024 to adjust its recorded earnout liability to the current estimated fair value of the total amount to be paid under the earnout, as amended.

Concentration of credit risk and significant customers

Financial instruments, which potentially expose the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, short-term investments, restricted cash, accounts receivable and derivative contracts. The Company’s investment policy imposes certain maturity limits on the Company’s portfolio and restricts the permitted investments to the purchase of bank deposits and highly rated fixed income securities.

Apple, Facebook and Google are significant distribution, marketing, promotion and payment platforms for the Company's games. A significant portion of the Company’s revenues has been generated from players who accessed the Company's games through these platforms. Therefore, the Company's accounts receivable are derived mainly from sales through these three platforms. The Company performs ongoing credit evaluations of its customers.

The following table summarizes the major accounts receivable of the Company as a percentage of the total accounts receivable as of the dates indicated:


	June 30, 2024	December 31, 2023

Apple	58%	56%
Google	26%	28%
Facebook	4%	4%

Accounts receivable are recorded at their transaction amounts and do not bear interest. The Company bases its allowance for credit losses on management's best estimate of the amount of probable credit losses in the Company's existing accounts receivable based on historical collection experience and current and expected future economic and market conditions.

Cash and cash equivalents and Short-term investments

Cash and cash equivalents consist of cash and highly liquid investments with maturities of three months or less from the date of purchase and are stated at the lower of cost or market value. Cash equivalents include investments in term deposits, commercial papers and money market funds that can be redeemed immediately at the current net asset value.

Investments with maturities of more than three months but less than one year from the date of purchase are included in short-term investments. Such short-term investments include investments in term deposits and commercial papers and are stated at cost which approximates fair market value.

The Company classifies its debt securities as available-for-sale (“AFS”). AFS debt securities are carried at fair value, with unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on sale of investments are included in Interest and other, net on the statements of comprehensive income and are derived using the specific identification method for determining the cost of securities sold. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization together with interest on securities is included in Interest and other, net.

Employee related benefits

Appreciation and retention plan

In August 2019, the Company adopted the Playtika Holding Corp. Retention Plan (the “2021-2024 Retention Plan”) in order to retain key employees and reward them for contributing to the success of the Company. Under the 2021-2024 Retention Plan, eligible employees may be granted retention units that let them receive their pro-rata portion of a retention pool of $25 million per year for each of the plan years, and may also be granted appreciation units, which allow the employee to

receive their pro-rata portion of an appreciation pool calculated as a specified percentage of Adjusted EBITDA for each of the plan years.

The value of each unit of the 2021-2024 Retention Plan has been amortized into compensation expense using the straight-line method, which will result in the recognition of compensation costs in the same years as the underlying EBITDA used in the plan measurement is earned.

The Company recognized compensation expenses in respect of retention bonus and appreciation unit awards under its appreciation and retention plans of $23.3 million and $29.1 million during the three months ended June 30, 2024 and 2023, respectively, and $46.2 million and $58.9 million during the six months ended June 30, 2024 and 2023, respectively.

Derivative instruments

The Company uses interest rate swap contracts to reduce its exposure to fluctuating interest rates associated with the Company’s variable rate debt, and to effectively increase the portion of debt upon which the Company pays a fixed interest rate. The Company’s interest rate swap agreements are designated as cash flow hedges under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”), involving the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreement, without the exchange of the underlying notional amount. These hedges are highly effective in offsetting changes in the Company’s future expected cash flows due to the fluctuation of the Company’s variable rate debt.

The Company monitors the effectiveness of its hedges on a quarterly basis, both qualitatively and quantitatively. The Company performed a regression analysis at inception of the hedging relationship and at period end in which it compared the change in the fair value of the swap transaction and the change in fair value of a hypothetical interest rate swap having terms that identically match the terms of the debt's interest rate payments based on historical swap rates. The Company believes that the hedging instruments are expected to be highly effective at offsetting changes in the hedged transactions attributable to the risk being hedged. For each future reporting period, the Company will continue performing retrospective and prospective assessments of hedge effectiveness in a single regression analysis by updating the regression analysis that was prepared at the inception of the hedging relationship.

The Company uses foreign currency derivative contracts to reduce its exposure to fluctuating exchange rates between the United States dollar (as the Company’s functional currency) and certain expense lines denominated in Euros (“EUR”), Israeli Shekels (“ILS”), Polish Zloty (“PLN”) and Romanian Leu (“RON”). The Company’s derivative contracts are designated as cash flow hedges under ASC 815. The Company monitors the effectiveness of its hedges on a quarterly basis, both qualitatively and quantitatively, and expects these hedges to remain highly effective at offsetting fluctuations in exchange rates through their respective maturity dates. See Note 6, Derivative Instruments, for additional discussion.

The fair value of derivative financial instruments is recognized as an asset or liability at each balance sheet date, with changes in fair value recorded in other comprehensive income on the consolidated statements of comprehensive income until the future underlying transactions occur. The fair value approximates the amount the Company would pay or receive if these contracts were settled at the respective valuation dates. The inputs used to measure the fair value of the Company’s interest rate swap agreements and foreign currency derivative contracts are categorized as Level 2 in the fair value hierarchy as established by ASC 820, Fair Value Measurement (“ASC 820”). See Note 7, Fair Value Measurements, for additional discussion.

Investment in unconsolidated entities

The Company holds certain equity investments in various unconsolidated entities that, based upon the structure of the investment, are not within the scope of equity investment accounting that would lead to the consolidation conclusions above. Instead, these investments fall within the scope of ASC 321, Investments - Equity Securities. As permitted within that guidance, the Company has elected to account for these investments at cost less impairment, adjusted for changes in fair value from observable transactions for identical or similar investments of the same issuer as of the respective transaction dates. During the six months ended June 30, 2024, the Company recorded an impairment of $7.0 million related to one of its

investments in an unconsolidated entity. No change to the carrying amounts were recorded in the six months ended June 30, 2023.

Net income per share attributable to common stockholders

For all periods presented herein, basic net income per share is calculated by dividing net income by the weighted-average common shares outstanding. Diluted net income per share reflects the effect of all potentially dilutive common shares outstanding by dividing net income by the weighted-average of all common and potentially dilutive shares outstanding. Performance Stock Units (“PSUs”) are considered potentially dilutive as of the first day of the reporting period in which the underlying performance metric is achieved. In the event of a loss, diluted shares are not considered because of their anti-dilutive effect. The Company uses the treasury stock method on a grant-by-grant basis as the method for determining the dilutive effect of options, RSUs and PSUs. Under this method, it is assumed that the hypothetical proceeds received upon settlement are used to repurchase common shares at the average market price during the period.

DERIVATIVE INSTRUMENTS - Narrative (Details) $ in Millions	Jun. 30, 2024 USD ($)	Jun. 30, 2023 derivative_instrument	Jan. 31, 2023 USD ($) derivative_instrument	Mar. 31, 2021 USD ($) derivative_instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets, Prepaid expenses and other current assets
Derivative instruments - interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of derivative agreements \| derivative_instrument		2	2	2
Notional value			$ 250.0
Fixed interest rate		0.85%
Derivative instrument, basis spread on variable rate, period			6 months
Derivative asset	$ 45.5
Interest Rate Swap One
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional value				$ 250.0
Fixed interest rate			3.435%	0.9275%
Interest Rate Swap Two
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional value				$ 250.0
Fixed interest rate			3.435%	0.9275%
Foreign currency hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Approximate amount of hedges	$ 207.9
Derivative maturity	12 months
Net derivative	$ (2.3)

INTEREST AND OTHER, NET

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

INTEREST AND OTHER, NET

Interest and other, net are as follows (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Interest expense	$	38.9	$	35.8	$	77.9	$	73.8
Interest income	(13.7)		(10.3)		(26.7)		(18.1)
Foreign currency translation differences, net	(4.8)		(2.4)		(7.6)		(4.2)
Other	—		—		—		0.2
Total interest and other, net	$	20.4	$	23.1	$	43.6	$	51.7

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Revenues	$ 627.0	$ 642.8	$ 1,278.2	$ 1,299.0
Costs and expenses
Cost of revenue	168.2	178.3	345.2	364.0
Research and development	100.6	100.3	207.5	202.7
Sales and marketing	169.4	141.2	359.8	284.9
General and administrative	48.1	74.1	119.9	146.1
Impairment charge	0.0	9.7	7.0	9.7
Total costs and expenses	486.3	503.6	1,039.4	1,007.4
Income from operations	140.7	139.2	238.8	291.6
Interest and other, net	20.4	23.1	43.6	51.7
Income before income taxes	120.3	116.1	195.2	239.9
Provision for income taxes	33.7	40.4	55.6	80.1
Net income	86.6	75.7	139.6	159.8
Other comprehensive income (loss)
Foreign currency translation	(1.5)	(0.2)	(5.5)	2.9
Change in fair value of derivatives	(3.3)	14.8	2.4	7.0
Total other comprehensive income (loss)	(4.8)	14.6	(3.1)	9.9
Comprehensive income	$ 81.8	$ 90.3	$ 136.5	$ 169.7
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.23	$ 0.21	$ 0.38	$ 0.44
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.23	$ 0.21	$ 0.38	$ 0.44
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	371.4	365.9	370.9	365.3
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	371.8	366.4	371.3	365.8

INTEREST AND OTHER, NET (Tables)

6 Months Ended

Jun. 30, 2024

Other Income and Expenses [Abstract]

Schedule of Interest and Other, Net

Interest and other, net are as follows (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Interest expense	$	38.9	$	35.8	$	77.9	$	73.8
Interest income	(13.7)		(10.3)		(26.7)		(18.1)
Foreign currency translation differences, net	(4.8)		(2.4)		(7.6)		(4.2)
Other	—		—		—		0.2
Total interest and other, net	$	20.4	$	23.1	$	43.6	$	51.7

FAIR VALUE MEASUREMENTS

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The Company accounts for fair value in accordance with ASC 820. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a three-tier hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The carrying value of accounts receivable and payables and the Company's cash and cash equivalents, short-term investments and restricted cash approximates fair value due to the short time to expected payment or receipt of cash.

The following table summarizes the fair value measurement of the Company’s long-term debt (in millions):


	June 30, 2024
	Face Value		Fair Value		Fair Value Hierarchy
Term Loan	$	1,843.0	$	1,843.0	Level 2
Senior Notes	600.0		522.0		Level 2
Total debt	$	2,443.0	$	2,365.0


	December 31, 2023
	Face Value		Fair Value		Fair Value Hierarchy
Term Loan	$	1,852.5	$	1,847.9	Level 2
Senior Notes	600.0		525.8		Level 2
Total debt	$	2,452.5	$	2,373.7

The estimated fair value of the Company’s term loan is based upon the prices at which the Company’s debt traded in the days immediately preceding the balance sheet date. As the trading volume of the Company’s debt is low relative to the overall debt balance, the Company does not believe that the associated transactions represent an active market, and therefore this indication of value represents a level 2 fair value input.


	Fair Value at
	Fair Value Hierarchy	June 30, 2024		December 31, 2023
Cash equivalents
Money market funds	Level 1	$	346.2	$	524.4
Term deposits	Level 1	66.2		290.3
Commercial papers	Level 2	129.6		104.8

Short-term investments
Term deposits	Level 1	132.8		—
Commercial papers	Level 2	257.3		—

Prepaid expenses and other current assets
Derivative instruments - interest rate swaps	Level 2	$	27.8	$	25.3
Derivative instruments - foreign currency derivative contracts	Level 2	0.9		4.3



Other non-current assets
Derivative instruments - interest rate swaps	Level 2	$	17.7	$	15.2


Accrued expenses and other current liabilities
Derivative instruments - foreign currency derivative contracts	Level 2	$	3.2	$	0.9

Other long-term liabilities, including employee related benefits
Derivative instruments - interest rate swaps	Level 2	$	—	$	4.4


Balance as of January 1, 2024	$	66.8

Fair value adjustments based upon post-acquisition performance	(13.4)
Balance as of June 30, 2024(1)	$	53.4

__________

(1) Amount comprised of $51.0 million and $2.4 million for InnPlay and Youda Games acquisitions, respectively.

The carrying values of the Company’s cash equivalents and short-term investments approximate fair value because of the short duration of these financial instruments.

The Company estimates the fair value of interest rate swap contracts by discounting the future cash flows of both the fixed rate and variable rate interest payments based on market yield curves. The inputs used to measure the fair value of the Company’s interest rate swap contracts are categorized as Level 2 in the fair value hierarchy as established by ASC 820. The inputs used to measure the fair value of the Company’s foreign currency contracts are categorized as Level 2 in the fair value hierarchy as established by ASC 820.

The Company estimated the fair value of its contingent consideration liabilities using a Monte Carlo simulation to model components of cash flow analyses. These fair value measurements are based on significant inputs not observable in the market and thus represent Level 3 measurements as defined in ASC 820. The extent to which the actual results differ from

assumptions made within the Monte Carlo simulation cash flow analysis will result in adjustments to this liability in future periods.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company operates its business as one operating segment and one reportable segment.

The Company’s long-lived assets, net, by country of domicile are as follows (in millions):


	June 30, 2024		December 31, 2023

Israel	$	86.4	$	94.0
USA	64.0		64.8
Ukraine	18.6		21.8
Other	37.2		39.6
Total long-lived assets, net	$	206.2	$	220.2

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity during the six months ended June 30, 2024:


	Stock	Weighted	Weighted
	Options	Average	Average		Intrinsic
	Outstanding	Remaining	Exercise		Value
	(in millions)	Term (in years)	Price		(in millions)
Outstanding at January 1, 2024	1.7	7.6	$	17.72
Granted	—		$	—
Exercised	—
Cancelled	(0.3)		$	19.22
Expired	—		$	—
Outstanding at June 30, 2024	1.4	7.2	$	17.40	$	—
Exercisable at June 30, 2024	0.9	7.0	$	18.89	$	—

Schedule of Assumptions Used for the Options Granted

The table below summarizes the assumptions used for the options granted in the six months ended June 30, 2023. There were no options granted in the six months ended June 30, 2024.


									Six months ended June 30,
									2023
Risk-free interest rate									3.34% - 3.79%
Expected dividend yield									—
Expected term in years									6.1
Expected volatility									52.13% - 52.79%

Schedule of Company’s RSU Activity

The following table summarizes the Company’s RSU activity during the six months ended June 30, 2024:


		Weighted		Total Fair
		Average		Value of
	Shares	Grant Date		Shares Vested
	(in millions)	Fair Value		(in millions)
Outstanding at January 1, 2024	21.3	$	12.24
Granted	0.5	$	7.59
Vested	(2.0)	$	16.45	$	15.5
Cancelled	(1.9)	$	12.37
Outstanding at June 30, 2024	17.9	$	11.60

Schedule of Company’s PSU Activity

The following table summarizes the Company’s PSU activity during the six months ended June 30, 2024:


		Weighted		Total Fair
		Average		Value of
	Shares(1)	Grant Date		Shares Vested
	(in millions)	Fair Value		(in millions)
Outstanding at January 1, 2024	2.2	$	9.72
Granted	—	$	—
Vested	*	$	9.72	*
Cancelled	(0.7)	$	9.72
Outstanding at June 30, 2024	1.5	$	9.72

________

(1) The number of PSUs outstanding represent the total number of PSUs granted to each recipient eligible to vest if the Company meets its highest specified performance goals for the applicable period.

* Represents an amount less than 0.1 or $0.1

Schedule of Stock Based Compensation

The following table summarizes stock-based compensation costs as reported by award type (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Stock options	$	0.9	$	1.1	$	1.7	$	1.4
RSUs	24.2		26.9		50.1		54.0
PSUs	(1.6)		(1.9)		(4.1)		0.5
Total stock-based compensation costs	$	23.5	$	26.1	$	47.7	$	55.9

Schedule of Stock Based Compensation, Net of Capitalized, Amount

The following table summarizes stock-based compensation costs, net of amounts capitalized, as reported on the Company’s consolidated statement of comprehensive income (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Research and development expenses	$	7.8	$	9.5	$	15.9	$	19.0
Sales and marketing expenses	1.6		2.4		3.4		4.8
General and administrative expenses	13.5		13.4		27.3		30.7
Total stock-based compensation costs, net of amounts capitalized	$	22.9	$	25.3	$	46.6	$	54.5

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Description of business and organization	Description of business and organization Playtika Holding Corp. (“Playtika”) and its subsidiaries (together with Playtika, the “Company”) is one of the world’s leading developers of mobile games creating fun, innovative experiences that entertain and engage its users. It has built best-in-class live game operations services and proprietary technology tools to support its portfolio of games which enable it to drive strong user engagement and monetization. The Company’s games are free-to-play, and the Company seeks to provide novel, curated in-game content and offers to its users, at optimal points in their game journeys to drive user engagement and monetization.
Basis of presentation and consolidation	Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and include Playtika and all subsidiaries in which the Company has a controlling financial interest. Control generally equates to ownership percentage, whereby (i) affiliates that are more than 50% owned are consolidated; (ii) investments in affiliates of 50% or less but greater than 20% are generally accounted for using the equity method where the Company has determined that it has significant influence over the entities; and (iii) investments in affiliates of 20% or less are generally accounted for at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The significant accounting policies referenced in the annual consolidated financial statements of the Company as of December 31, 2023 have been applied consistently in these unaudited interim consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been recorded within the accompanying financial statements, consisting of normal, recurring adjustments, and all intercompany balances and transactions have been eliminated in the consolidation. Certain amounts in the consolidated financial statements for the previous years have been reclassified to be consistent with current year presentation. These reclassifications had no effect on previously reported net income. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, reference is made to the consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 26, 2024.
Use of estimates	Use of estimates The preparation of the interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions. The Company’s management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Concentration of credit risk and significant customers	Concentration of credit risk and significant customers Financial instruments, which potentially expose the Company to concentrations of credit risk, consist primarily of cash and cash equivalents, short-term investments, restricted cash, accounts receivable and derivative contracts. The Company’s investment policy imposes certain maturity limits on the Company’s portfolio and restricts the permitted investments to the purchase of bank deposits and highly rated fixed income securities. Apple, Facebook and Google are significant distribution, marketing, promotion and payment platforms for the Company's games. A significant portion of the Company’s revenues has been generated from players who accessed the Company's games through these platforms. Therefore, the Company's accounts receivable are derived mainly from sales through these three platforms. The Company performs ongoing credit evaluations of its customers.
Accounts receivable	Accounts receivable are recorded at their transaction amounts and do not bear interest. The Company bases its allowance for credit losses on management's best estimate of the amount of probable credit losses in the Company's existing accounts receivable based on historical collection experience and current and expected future economic and market conditions.
Cash and cash equivalents	Cash and cash equivalents consist of cash and highly liquid investments with maturities of three months or less from the date of purchase and are stated at the lower of cost or market value. Cash equivalents include investments in term deposits, commercial papers and money market funds that can be redeemed immediately at the current net asset value.
Investments	Investments with maturities of more than three months but less than one year from the date of purchase are included in short-term investments. Such short-term investments include investments in term deposits and commercial papers and are stated at cost which approximates fair market value. The Company classifies its debt securities as available-for-sale (“AFS”). AFS debt securities are carried at fair value, with unrealized gains and losses, net of tax, reported in accumulated other comprehensive income (loss) in stockholders’ equity. Realized gains and losses on sale of investments are included in Interest and other, net on the statements of comprehensive income and are derived using the specific identification method for determining the cost of securities sold. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization together with interest on securities is included in Interest and other, net. Investment in unconsolidated entities The Company holds certain equity investments in various unconsolidated entities that, based upon the structure of the investment, are not within the scope of equity investment accounting that would lead to the consolidation conclusions above. Instead, these investments fall within the scope of ASC 321, Investments - Equity Securities. As permitted within that guidance, the Company has elected to account for these investments at cost less impairment, adjusted for changes in fair value from observable transactions for identical or similar investments of the same issuer as of the respective transaction dates. During the six months ended June 30, 2024, the Company recorded an impairment of $7.0 million related to one of its investments in an unconsolidated entity. No change to the carrying amounts were recorded in the six months ended June 30, 2023.
Employee related benefits	Employee related benefits Appreciation and retention plan In August 2019, the Company adopted the Playtika Holding Corp. Retention Plan (the “2021-2024 Retention Plan”) in order to retain key employees and reward them for contributing to the success of the Company. Under the 2021-2024 Retention Plan, eligible employees may be granted retention units that let them receive their pro-rata portion of a retention pool of $25 million per year for each of the plan years, and may also be granted appreciation units, which allow the employee to receive their pro-rata portion of an appreciation pool calculated as a specified percentage of Adjusted EBITDA for each of the plan years. The value of each unit of the 2021-2024 Retention Plan has been amortized into compensation expense using the straight-line method, which will result in the recognition of compensation costs in the same years as the underlying EBITDA used in the plan measurement is earned.
Derivative instruments	Derivative instruments The Company uses interest rate swap contracts to reduce its exposure to fluctuating interest rates associated with the Company’s variable rate debt, and to effectively increase the portion of debt upon which the Company pays a fixed interest rate. The Company’s interest rate swap agreements are designated as cash flow hedges under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging (“ASC 815”), involving the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreement, without the exchange of the underlying notional amount. These hedges are highly effective in offsetting changes in the Company’s future expected cash flows due to the fluctuation of the Company’s variable rate debt. The Company monitors the effectiveness of its hedges on a quarterly basis, both qualitatively and quantitatively. The Company performed a regression analysis at inception of the hedging relationship and at period end in which it compared the change in the fair value of the swap transaction and the change in fair value of a hypothetical interest rate swap having terms that identically match the terms of the debt's interest rate payments based on historical swap rates. The Company believes that the hedging instruments are expected to be highly effective at offsetting changes in the hedged transactions attributable to the risk being hedged. For each future reporting period, the Company will continue performing retrospective and prospective assessments of hedge effectiveness in a single regression analysis by updating the regression analysis that was prepared at the inception of the hedging relationship. The Company uses foreign currency derivative contracts to reduce its exposure to fluctuating exchange rates between the United States dollar (as the Company’s functional currency) and certain expense lines denominated in Euros (“EUR”), Israeli Shekels (“ILS”), Polish Zloty (“PLN”) and Romanian Leu (“RON”). The Company’s derivative contracts are designated as cash flow hedges under ASC 815. The Company monitors the effectiveness of its hedges on a quarterly basis, both qualitatively and quantitatively, and expects these hedges to remain highly effective at offsetting fluctuations in exchange rates through their respective maturity dates. See Note 6, Derivative Instruments, for additional discussion. The fair value of derivative financial instruments is recognized as an asset or liability at each balance sheet date, with changes in fair value recorded in other comprehensive income on the consolidated statements of comprehensive income until the future underlying transactions occur. The fair value approximates the amount the Company would pay or receive if these contracts were settled at the respective valuation dates. The inputs used to measure the fair value of the Company’s interest rate swap agreements and foreign currency derivative contracts are categorized as Level 2 in the fair value hierarchy as established by ASC 820, Fair Value Measurement (“ASC 820”).
Net income per share attributable to common stockholders	Net income per share attributable to common stockholders For all periods presented herein, basic net income per share is calculated by dividing net income by the weighted-average common shares outstanding. Diluted net income per share reflects the effect of all potentially dilutive common shares outstanding by dividing net income by the weighted-average of all common and potentially dilutive shares outstanding. Performance Stock Units (“PSUs”) are considered potentially dilutive as of the first day of the reporting period in which the underlying performance metric is achieved. In the event of a loss, diluted shares are not considered because of their anti-dilutive effect. The Company uses the treasury stock method on a grant-by-grant basis as the method for determining the dilutive effect of options, RSUs and PSUs. Under this method, it is assumed that the hypothetical proceeds received upon settlement are used to repurchase common shares at the average market price during the period.

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN - Schedule of Stock Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	$ 23.5	$ 26.1	$ 47.7	$ 55.9
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	0.9	1.1	1.7	1.4
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	24.2	26.9	50.1	54.0
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs	$ (1.6)	$ (1.9)	$ (4.1)	$ 0.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investment in Unconsolidated Entities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Impairment charges	$ 7.0	$ 9.7

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables show a summary of changes in accumulated other comprehensive income (loss), net of tax, by component for the three and six months ended June 30, 2024 and 2023 (in millions):


	Foreign Currency Translation		Interest Rate Swaps		Foreign Currency Derivative Contracts		Total
Balance as of January 1, 2024	$	(10.0)	$	27.8	$	2.8	$	20.6
Other comprehensive income (loss) before reclassifications	(4.0)		14.5		(2.5)		8.0
Amounts reclassified from accumulated other comprehensive income (loss)	—		(6.2)		(0.1)		(6.3)
Balance as of March 31, 2024	(14.0)		36.1		0.2		22.3
Other comprehensive income (loss) before reclassifications	(1.5)		5.1		(3.5)		0.1
Amounts reclassified from accumulated other comprehensive income	—		(6.3)		1.4		(4.9)
Balance as of June 30, 2024	$	(15.5)	$	34.9	$	(1.9)	$	17.5


	Foreign Currency Translation		Interest Rate Swaps		Foreign Currency Derivative Contracts		Total
Balance as of January 1, 2023	$	(15.6)	$	37.7	$	(4.5)	$	17.6
Other comprehensive income (loss) before reclassifications	3.1		(4.0)		(2.0)		(2.9)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4.2)		2.4		(1.8)
Balance as of March 31, 2023	(12.5)		29.5		(4.1)		12.9
Other comprehensive income (loss) before reclassifications	(0.2)		20.5		(2.4)		17.9
Amounts reclassified from accumulated other comprehensive income	—		(5.5)		2.2		(3.3)
Balance as of June 30, 2023	$	(12.7)	$	44.5	$	(4.3)	$	27.5

The amounts in the summary of changes in accumulated other comprehensive income (loss) tables, above, are net of tax expense/(benefits) as follows (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Interest rate swaps	$	(0.3)	$	4.5	$	2.2	$	2.0
Foreign currency derivative contracts	(0.4)		0.1		(0.9)		—

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN - Schedule of RSUs and PSUs Activity (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
RSUs
Shares
Beginning balance (in shares) \| shares	21.3
Granted (in shares) \| shares	0.5
Vested (less than or equal to for PSUs) (in shares) \| shares	(2.0)
Cancelled (in shares) \| shares	(1.9)
Ending balance (in shares) \| shares	17.9
Weighted Average Grant Date Fair Value
Outstanding at beginning balance (in dollars per share) \| $ / shares	$ 12.24
Granted (in dollars per share) \| $ / shares	7.59
Vested (in dollars per share) \| $ / shares	16.45
Cancelled (in dollars per share) \| $ / shares	12.37
Outstanding at ending balance (in dollars per share) \| $ / shares	$ 11.60
Total fair value of shares vested (less than or equal to for PSUs) \| $	$ 15.5
PSUs
Shares
Beginning balance (in shares) \| shares	2.2
Granted (in shares) \| shares	0.0
Vested (less than or equal to for PSUs) (in shares) \| shares	(0.1)
Cancelled (in shares) \| shares	(0.7)
Ending balance (in shares) \| shares	1.5
Weighted Average Grant Date Fair Value
Outstanding at beginning balance (in dollars per share) \| $ / shares	$ 9.72
Granted (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	9.72
Cancelled (in dollars per share) \| $ / shares	9.72
Outstanding at ending balance (in dollars per share) \| $ / shares	$ 9.72
Total fair value of shares vested (less than or equal to for PSUs) \| $	$ 0.1

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Major Accounts Receivable

The following table summarizes the major accounts receivable of the Company as a percentage of the total accounts receivable as of the dates indicated:


	June 30, 2024	December 31, 2023

Apple	58%	56%
Google	26%	28%
Facebook	4%	4%

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Stock Options Outstanding
Outstanding beginning balance (in shares)	1,700,000
Granted (in shares)	0
Exercised (in shares)	0
Cancelled (in shares)	(300,000)
Expired (in shares)	0
Outstanding ending balance (in shares)	1,400,000	1,700,000
Exercisable at ending balance (in shares)	900,000
Weighted average remaining term, Outstanding	7 years 2 months 12 days	7 years 7 months 6 days
Weighted average remaining term, Exercisable	7 years
Weighted Average Exercise Price
Outstanding at beginning balance (in dollars per share)	$ 17.72
Granted (in dollars per share)	0
Cancelled (in dollars per share)	19.22
Expired (in dollars per share)	0
Outstanding at ending balance (in dollars per share)	17.40	$ 17.72
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 18.89
Stock options, outstanding intrinsic value (dollars)	$ 0.0
Intrinsic Value, Exercisable	$ 0.0

DEBT (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt


	June 30, 2024						December 31, 2023
(in millions, except interest rates)	Maturity	Interest rate	Book value		Face value		Book value

Term Loan	2028	8.210%	$	1,816.4	$	1,843.0	$	1,822.8
Senior Notes	2029	4.250%	594.1		600.0		593.6
Revolving Credit Facility	2026	n/a	—		—		—
Total debt			2,410.5		2,443.0		2,416.4
Less: Current portion of long-term debt			(16.5)		(23.8)		(16.8)
Long-term debt			$	2,394.0	$	2,419.2	$	2,399.6

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
SEGMENT INFORMATION - Narrative (Details)	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table provides information about disaggregated revenue by geographic location of the Company’s players and type of platform (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Geographic location
USA	$	425.0	$	452.9	$	865.2	$	914.2
EMEA	115.8		102.1		237.4		207.1
APAC	42.5		44.8		86.7		90.9
Other	43.7		43.0		88.9		86.8
Total	$	627.0	$	642.8	$	1,278.2	$	1,299.0

Revenues through third-party platforms and through the Company’s own direct-to-consumer platforms were as follows (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023

Third-party platforms	$	453.3	$	477.5	$	933.0	$	982.2
Direct-to-consumer platforms	173.7		165.3		345.2		316.8
Total revenues	$	627.0	$	642.8	$	1,278.2	$	1,299.0

Schedule of Contract Assets and Liabilities

Balances of the Company’s contract assets and liabilities are as follows (in millions):


	June 30, 2024		December 31, 2023
Accounts receivable	$	160.0	$	171.5
Contract assets (1)	10.9		12.5
Contract liabilities (2)	40.0		46.0

_______

(1) Contract assets are included within prepaid expenses and other current assets in the Company’s consolidated balance sheets.

(2) Contract liabilities are included within accrued expenses and other current liabilities as “deferred revenues” in the Company’s consolidated balance sheets.

SHORT-TERM INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-Term Investments

Short-term investments at June 30, 2024 are as follows (in millions):


	June 30, 2024
	Amortized cost		Allowance for credit losses		Unrealized gains		Unrealized losses
Term deposits	$	132.8	$	—	$	—	$	—
Commercial papers	257.4		—		—		(0.1)
Total short-term investments	$	390.2	$	—	$	—	$	(0.1)

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company performed a review for subsequent events through the date of these financial statements. No material items were noted for disclosure.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT (Parenthetical) - $ / shares		3 Months Ended
	Apr. 05, 2024	Jun. 30, 2024	Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]
Cash dividend declared (in dollars per share)	$ 0.10	$ 0.10	$ 0.10

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS - Schedule of Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income	$ 86.6	$ 53.0	$ 75.7	$ 84.1	$ 139.6	$ 159.8
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	371.4		365.9		370.9	365.3
Stock-based compensation awards (in shares)	0.4		0.5		0.3	0.5
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	371.8		366.4		371.3	365.8
Net income per share, basic (in dollars per share)	$ 0.23		$ 0.21		$ 0.38	$ 0.44
Net income per share, diluted (in dollars per share)	$ 0.23		$ 0.21		$ 0.38	$ 0.44

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,600.0	1,600.0
Common stock, shares issued (in shares)	371.9	370.0
Common stock, shares outstanding (in shares)	371.9	370.0
Treasury stock (in shares)	51.8	51.8

INCOME TAXES

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES


	Three months ended June 30,						Six months ended June 30,
(in millions, except tax rate)	2024			2023			2024			2023
Income before income taxes	$	120.3		$	116.1		$	195.2		$	239.9
Provision for income taxes	$	33.7		$	40.4		$	55.6		$	80.1
Effective tax rate	28.0		%	34.8		%	28.5		%	33.4		%

The effective tax rates were determined using a worldwide estimated annual effective tax rate and took discrete items into consideration. The difference between the effective tax rate and the 21% U.S. federal statutory rate for the six months ended June 30, 2024 was primarily due to the inclusion of Global Intangible Low-Taxed Income and non-deductible stock-based compensation expense, partially offset by a non-recurring favorable impact of reversal of accruals related to undistributed earnings. The difference between the effective tax rate and the 21% U.S. federal statutory rate for the six months ended June 30, 2023 was primarily due to tax provisions that do not meet the more likely than not standard and the inclusion of Global Intangible Low-Taxed Income.

- Definition

The entire disclosure for income tax.

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-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In November 2013, the Company’s subsidiary, Playtika, Ltd., sent an initial demand letter to Enigmatus s.r.o., a game developer in the Czech Republic, which owns various U.S. trademark registrations that resemble the Company’s Sloto-formative trademark names, demanding that it cease use of the trademark Slotopoly. In response, Enigmatus s.r.o. asserted that it was the owner of the Sloto-formative trademarks and denied that its game title infringed upon the Company’s trademarks. Enigmatus s.r.o. applied to register one of the Company’s trademarks in the United Kingdom and European Union, and the Company successfully opposed its applications. In December 2016, Enigmatus s.r.o., filed a trademark infringement lawsuit, Enigmatus, s.r.o. v. Playtika LTD and Caesars Interactive Entertainment, Inc., against Playtika, Ltd. and Caesars Interactive Entertainment LLC in the Federal Court of Canada asserting that the Company’s use of the Slotomania trademarks violates its proprietary and trademark rights. The plaintiff sought injunctive relief and monetary damages. On May 17, 2024, the Company’s motion for summary trial was granted. However, the plaintiffs subsequently filed a notice of appeal. The Company has defended this case vigorously and will continue to do so. As the appeals process is in the preliminary stages, the Company cannot estimate what impact, if any, the litigation may have on its results of operations, financial condition or cash flows. On November 23, 2021, the Company, its directors and certain of its officers were named in a putative class action lawsuit filed in the United States District Court for the Eastern District of New York (Bar-Asher v. Playtika Holding Corp. et al.). The complaint is allegedly brought on behalf of a class of purchasers of the Company’s securities between January 15, 2021 and November 2, 2021, and alleges violations of federal securities laws arising out of alleged misstatements or omissions by the defendants during the alleged class period. On March 10, 2022, the court appointed LBMotion Ltd as lead plaintiff, and the plaintiff filed an amended complaint on May 6, 2022. The amended complaint alleges violations of Section 11 and 15 of the Securities Act of 1933 and seeks, among other things, damages and attorneys’ fees and costs on behalf of the putative class. The amended complaint also added the companies that served as underwriters for the Company’s IPO as defendants in the lawsuit. On September 15, 2022, in accordance with local rules of the Court, the Company and other defendants in the case filed a letter notifying the Court of defendants’ service upon plaintiffs of, among other things, a notice of motion to dismiss plaintiffs’ amended complaint and a memorandum of law in support of the defendants’ motion to dismiss plaintiffs’ amended complaint. On November 30, 2022, the Company filed with the Court a motion to dismiss. The Company’s motion to dismiss was granted with prejudice on March 18, 2024. However, on April 15, the plaintiffs filed a notice of appeal. As the appeals process is in the preliminary stages, the Company cannot estimate what impact, if any, the litigation may have on its results of operations, financial condition or cash flows. The Company has defended this case vigorously and will continue to do so. On November 4, 2022, the Company and certain of its directors were named in a derivative action lawsuit filed in the United States District Court for the Eastern District of New York (Bushansky v. Antokol., et al.). The complaint was brought on behalf of the Company by a putative stockholder alleging that the named directors were negligent in their oversight of the preparation of the Company’s Proxy Statement in alleged violation of federal securities laws and that those directors breached their fiduciary duties upon related allegations. The complaint also asserts claims for contribution and indemnification, and aiding and abetting. The complaint seeks, among other things, damages, disgorgement and restitution by the director defendants, and attorneys’ fees and costs. Based upon an agreement of plaintiff, the Company, and the other defendants, on February 13, 2023, the Court stayed this action until the resolution of the motion to dismiss in the class action case of Bar-Asher v. Playtika Holding Corp. When the motion to dismiss in the class action case of Bar-Asher v. Playtika Holding Corp. was granted as discussed above, this action was administratively closed. The Company does not expect this action to move forward until after the appeal of the class action case of Bar-Asher v. Playtika Holding Corp. has been decided. As this stage, the Company cannot estimate what impact, if any, the litigation may have on its results of operations, financial condition or cash flows. The Company intends to vigorously defend this case. On May 17, 2022, Guy David Ben Yosef filed a Motion for Approval of a class action lawsuit in district court in Tel Aviv-Jaffa Israel against Playtika Group Israel Ltd. (“PGI”), on behalf of all of PGI’s customers who made game token purchases in Israel as part of games marketed by PGI during the seven years preceding the filing of the motion and for all subsequent customers of such games who purchase tokens until the resolution of the claim. The Motion alleges that certain of the Company’s slot, poker and solitaire-themed games, including Slotomania, Caesars Slots, Solitaire Grand Harvest, House of Fun and Poker Heat, constitute illegal gambling and are prohibited under Israeli law and are misleading under Israeli consumer protection laws and alleges unjust enrichment. The Motion asserts damages of NIS 50 million. On January 12, 2023, PGI filed its response to the Motion for Approval. On March 5, 2023, the applicant submitted his reply to PGI’s response. A pre-trial hearing was held on May 4, 2023. The parties agreed to appoint a mediator to try and resolve the dispute. The first mediation meeting was held on August 16, 2023 and the second mediation meeting was held on January 7, 2024. The parties have agreed upon a settlement which is currently pending review by certain third parties and the expected range of loss is not material to the Company’s financial statements as a whole. If a mediated resolution is not reached the Company will continue defending this case vigorously. On April 10, 2023, Playtika Holding UK II Limited, the Company’s controlling shareholder, and certain officers of the Company were sued (Kormos v Playtika Holding UK II Limited, et al.) in the Delaware Chancery Court. The lawsuit alleges generally that the defendants breached fiduciary duties owed to the Company and its stockholders with respect to the controlling shareholder’s indication of an interest in selling some or all of its shares, and the resulting strategic review process and self-tender offer. On August 18, 2023, defendants filed with the Court motions to dismiss the claims. A hearing on the motions to dismiss was held on November 21, 2023. On January 18, 2024, the court denied Playtika Holding UK II Limited’s motion to dismiss in an oral ruling. The court issued a written opinion on May 3, 2024 granting the motion to dismiss the claims against the Company’s officers. As the case is in preliminary stages, the Company cannot estimate what impact, if any, the litigation may have on its results of operations, financial condition or cash flows. On June 7, 2024, the Company received a demand letter from counsel for Scott G. Kormos, one of the plaintiffs in the litigation matter described in the immediately preceding paragraph, pursuant to Section 220 of the Delaware General Corporation Law (“DGCL”), seeking disclosure of certain of the Company’s books and records. The Company has responded to the demand, stating its belief that the demand letter fails to fully comply with the requirements of Section 220 of the DGCL. However, in the interest of resolution and while preserving all rights, the Company has engaged in negotiations with Mr. Kormos’ counsel regarding the production of materials in relation to the demand. On November 13, 2023, plaintiff Gina v. Burt filed a lawsuit against the Company and its subsidiary, Playtika Ltd., in the Circuit Court of Coffee County, Tennessee, alleging that the Company’s social casino-themed games are unlawful gambling under Tennessee law. The lawsuit seeks to recover all amounts paid by Tennessee residents to the Company in connection with its games during the period beginning one year before the filing of the lawsuit until the case is resolved but excluding any residents who spent $75,000 or more during such time period. After the Company removed the case to the U.S. District Court for the Eastern District of Tennessee, plaintiff filed a motion to remand the case back to the Coffee County Circuit Court which the Company opposed. The Company also filed a motion to dismiss and a motion to compel arbitration. These motions have been briefed and are currently pending. As the case is in preliminary stages, the Company cannot estimate what impact, if any, the litigation may have on its results of operations, financial condition or cash flows. The Company intends to defend this case vigorously. On March 8, 2023, plaintiff Gayla Hamilton Mills filed a lawsuit against the Company and its subsidiary, Playtika Ltd., in the Circuit Court of Franklin County, Alabama, alleging that the Company’s casino-themed social games are unlawful gambling under Alabama law. The lawsuit seeks to recover all amounts paid by Alabama residents to the Company in connection with its games during the period beginning one year before the filing of the lawsuit until the case is resolved. After the Company removed the case to the U.S. District Court for the Northern District of Alabama, plaintiff dismissed the complaint and filed a very similar new complaint in the Circuit Court of Franklin County, Alabama on August 25, 2023. The new complaint asserted the same cause of action and bases for relief, but limited the requested recovery to the amounts paid to the Company in connection with its games only by those Alabama residents who spent less than $75,000 during the one year before the filing of the lawsuit until the case is resolved. The Company timely removed the new complaint to the same U.S. district court on September 28, 2023. On October 20, 2023, the plaintiff filed a motion to remand the case back to the Franklin County Circuit Court which the Company opposed. A hearing on the motion to remand was held on March 20, 2024 and the parties are awaiting a ruling. As the case is in preliminary stages, the Company cannot estimate what impact, if any, the litigation may have on its results of operations, financial condition or cash flows. The Company intends to defend this case vigorously. On February 27, 2023, the company received a deficit notice from the Ben Gurion Airport Customs House concerning the purchase of a private aircraft. The deficit notice claims that the company's acquisition of the aircraft is an import into Israel, and, as a result, it was obliged to pay purchase tax and VAT for the acquisition. The company disputes that any tax or VAT is owed. On July 26, 2023, the Customs House's definitive response was received, with the deficit notice still intact. The current claimed amount of the deficit notice is approximately $3.6 million. The Company paid the deficit notice under protest and filed a claim with the district court on December 12, 2023. The Customs House submitted its statement of defense on April 17, 2024 and the Company submitted its response to the statement of defense on June 16. A pre-trial meeting has been scheduled with the court for November 14, 2024. The Company intends to pursue this case vigorously. On June 1, 2024, the Company received pre-arbitration notices from a law firm purporting to represent 5,264 claimants who have played the Company’s games and intend to file arbitration demands alleging that the Company’s games are unlawful or that they otherwise have suffered harm for which recovery is available. On July 26, 2024, the law firm filed arbitration demands on behalf of 4,549 claimants. As of the date hereof, the Company lacks adequate information to assess the nature or validity of the claims. As such, the Company cannot estimate what impact, if any, these arbitration demands may have on its results of operations, financial condition or cash flows. The Company intends to defend these claims vigorously.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 710.3	$ 1,029.7
Short-term investments	390.1	0.0
Restricted cash	1.5	2.0
Accounts receivable	160.0	171.5
Prepaid expenses and other current assets	137.1	147.9
Total current assets	1,399.0	1,351.1
Property and equipment, net	112.2	119.9
Operating lease right-of-use assets	94.0	100.3
Intangible assets other than goodwill, net	282.0	311.2
Goodwill	983.8	987.2
Deferred tax assets, net	100.7	99.3
Investments in unconsolidated entities	48.4	54.4
Other non-current assets	155.2	151.6
Total assets	3,175.3	3,175.0
Current liabilities
Current maturities of long-term debt	16.5	16.8
Accounts payable	13.6	65.0
Operating lease liabilities, current	19.0	19.5
Accrued expenses and other current liabilities	412.6	438.3
Total current liabilities	461.7	539.6
Long-term debt	2,394.0	2,399.6
Contingent consideration	22.0	20.8
Other long-term liabilities, including employee related benefits	305.3	318.7
Operating lease liabilities, long-term	79.5	88.2
Deferred tax liabilities	25.7	29.6
Total liabilities	3,288.2	3,396.5
Commitments and contingencies (Note 8)
Stockholders' equity (deficit)
Common stock of $0.01 par value; 1,600.0 shares authorized; 371.9 and 370.0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	4.1	4.1
Treasury stock at cost (51.8 shares at both June 30, 2024 and December 31, 2023)	(603.5)	(603.5)
Additional paid-in capital	1,311.3	1,264.9
Accumulated other comprehensive income	17.5	20.6
Accumulated deficit	(842.3)	(907.6)
Total stockholders' deficit	(112.9)	(221.5)
Total liabilities and stockholders’ deficit	$ 3,175.3	$ 3,175.0

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN - Schedule of Assumptions Used for the Options Granted (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate, minimum		3.34%
Risk-free interest rate, maximum		3.79%
Expected dividend yield		$ 0
Expected term in years		6 years 1 month 6 days
Expected volatility, minimum		52.13%
Expected volatility, maximum		52.79%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurement of the Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Face Value	$ 2,443.0	$ 2,452.5
Fair Value	2,365.0	2,373.7
Term Loan
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Face Value	1,843.0	1,852.5
Term Loan \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	1,843.0	1,847.9
Senior Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Face Value	600.0	600.0
Senior Notes \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 522.0	$ 525.8

- Definition

Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-10

+ Details

DEBT - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Mar. 11, 2021
Debt Instrument [Line Items]
Book value	$ 2,410.5	$ 2,416.4
Less: Current portion of long-term debt	(16.5)	(16.8)
Long-term debt	2,394.0	2,399.6
Face value	2,443.0	2,452.5
Face value, Current portion of long-term debt	(23.8)
Face value, Long-term debt	$ 2,419.2
Term Loan
Debt Instrument [Line Items]
Interest rate	8.21%
Book value	$ 1,816.4	1,822.8
Face value	$ 1,843.0	1,852.5
Senior Notes
Debt Instrument [Line Items]
Interest rate	4.25%		4.25%
Book value	$ 594.1	593.6
Face value	600.0	600.0
Revolving Credit Facility
Debt Instrument [Line Items]
Book value	0.0	$ 0.0
Face value	$ 0.0

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN

Overview of Stock Incentive Plan

On May 26, 2020, the Board of Directors of the Company approved the Playtika Holding Corp. 2020 Incentive Award Plan (the “Plan”).

As of June 30, 2024, a total of 47,954,177 shares of the Company’s common stock had been allocated to awards granted under the Plan and 15,447,480 shares remained available for future grants.

Cash Dividend

On April 5, 2024, the Board of Directors of the Company (“the Board”) paid a cash dividend of $0.10 per shares of the Company’s outstanding common stock. Additionally, the Board declared a cash dividend of $0.10 per share of the Company’s outstanding common stock, payable on July 5, 2024 to stockholders of record as of the close of business on June 21, 2024. The dividend amount of $37.2 million is recorded in accrued expenses and other current liabilities at June 30, 2024.

Stock Repurchase Program

On May 9, 2024, the Company announced that its Board of Directors authorized a stock repurchase program for up to $150 million of the Company’s common stock. Under the repurchase program, repurchases can be made using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The repurchase program does not obligate the Company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.

Stock Options

The following table summarizes the Company’s stock option activity during the six months ended June 30, 2024:


	Stock	Weighted	Weighted
	Options	Average	Average		Intrinsic
	Outstanding	Remaining	Exercise		Value
	(in millions)	Term (in years)	Price		(in millions)
Outstanding at January 1, 2024	1.7	7.6	$	17.72
Granted	—		$	—
Exercised	—
Cancelled	(0.3)		$	19.22
Expired	—		$	—
Outstanding at June 30, 2024	1.4	7.2	$	17.40	$	—
Exercisable at June 30, 2024	0.9	7.0	$	18.89	$	—

The Company used the Black-Scholes option pricing model for determining the estimated fair value of stock-based compensation related to stock options. The table below summarizes the assumptions used for the options granted in the six months ended June 30, 2023. There were no options granted in the six months ended June 30, 2024.


									Six months ended June 30,
									2023
Risk-free interest rate									3.34% - 3.79%
Expected dividend yield									—
Expected term in years									6.1
Expected volatility									52.13% - 52.79%

RSUs

The following table summarizes the Company’s RSU activity during the six months ended June 30, 2024:


		Weighted		Total Fair
		Average		Value of
	Shares	Grant Date		Shares Vested
	(in millions)	Fair Value		(in millions)
Outstanding at January 1, 2024	21.3	$	12.24
Granted	0.5	$	7.59
Vested	(2.0)	$	16.45	$	15.5
Cancelled	(1.9)	$	12.37
Outstanding at June 30, 2024	17.9	$	11.60

PSUs

As of June 30, 2024, the Company estimated achievement of a target less than 100% for the PSUs associated with the 2024 and 2025 tranches, consistent with the Company’s current forecasted performance for 2024 and 2025.

The following table summarizes the Company’s PSU activity during the six months ended June 30, 2024:


		Weighted		Total Fair
		Average		Value of
	Shares(1)	Grant Date		Shares Vested
	(in millions)	Fair Value		(in millions)
Outstanding at January 1, 2024	2.2	$	9.72
Granted	—	$	—
Vested	*	$	9.72	*
Cancelled	(0.7)	$	9.72
Outstanding at June 30, 2024	1.5	$	9.72

________

* Represents an amount less than 0.1 or $0.1

Stock-Based Compensation

The following table summarizes stock-based compensation costs as reported by award type (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Stock options	$	0.9	$	1.1	$	1.7	$	1.4
RSUs	24.2		26.9		50.1		54.0
PSUs	(1.6)		(1.9)		(4.1)		0.5
Total stock-based compensation costs	$	23.5	$	26.1	$	47.7	$	55.9

The following table summarizes stock-based compensation costs, net of amounts capitalized, as reported on the Company’s consolidated statement of comprehensive income (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Research and development expenses	$	7.8	$	9.5	$	15.9	$	19.0
Sales and marketing expenses	1.6		2.4		3.4		4.8
General and administrative expenses	13.5		13.4		27.3		30.7
Total stock-based compensation costs, net of amounts capitalized	$	22.9	$	25.3	$	46.6	$	54.5

During the three months ended June 30, 2024 and 2023, the Company capitalized $0.6 million and $0.8 million of stock-based compensation cost, respectively. During the six months ended June 30, 2024 and 2023, the Company capitalized $1.1 million and $1.4 million of stock-based compensation cost, respectively.

As of June 30, 2024, the Company’s total unrecognized stock-based compensation expenses related to stock options and RSUs was approximately $3.1 million and $177.8 million, respectively. There was no unrecognized expense for PSUs at June 30, 2024. The expense related to stock options and RSUs are expected to be recognized over a weighted average period of 1.4 years and 2.8 years, respectively.

SHORT-TERM INVESTMENTS

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

SHORT-TERM INVESTMENTS

Short-term investments at June 30, 2024 are as follows (in millions):


	June 30, 2024
	Amortized cost		Allowance for credit losses		Unrealized gains		Unrealized losses
Term deposits	$	132.8	$	—	$	—	$	—
Commercial papers	257.4		—		—		(0.1)
Total short-term investments	$	390.2	$	—	$	—	$	(0.1)

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in millions, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Numerator:
Net income	$	86.6	$	75.7	$	139.6	$	159.8
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	371.4		365.9		370.9		365.3
Stock-based compensation awards	0.4		0.5		0.3		0.5
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	371.8		366.4		371.3		365.8
Net income per share, basic	$	0.23	$	0.21	$	0.38	$	0.44
Net income per share, diluted	$	0.23	$	0.21	$	0.38	$	0.44

The Company uses the treasury stock method on a grant-by-grant basis as the method for determining the dilutive effect of options, RSUs and PSUs. Under this method, it is assumed that the hypothetical proceeds received upon settlement are used to repurchase common shares at the average market price during the period. The following outstanding employee equity

awards were excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive for the periods presented (in millions):


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Stock options	1.5	2.1	1.6	2.6
RSUs	15.0	10.9	18.8	12.2
Total	16.5	13.0	20.4	14.8

In addition, 1.5 million PSUs were excluded from the calculation of diluted net income per share for each of the three and six months ended June 30, 2024 and 2.2 million PSUs were excluded from the calculation of diluted net income per share for each of the three and six months ended June 30, 2023, because the minimum performance measures were not yet met.

SHORT-TERM INVESTMENTS (Details) $ in Millions	Jun. 30, 2024 USD ($)
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	$ 390.2
Allowance for credit losses	0.0
Unrealized gains	0.0
Unrealized losses	(0.1)
Term deposits
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	132.8
Allowance for credit losses	0.0
Unrealized gains	0.0
Unrealized losses	0.0
Commercial papers
Debt Securities, Available-for-Sale [Line Items]
Amortized cost	257.4
Allowance for credit losses	0.0
Unrealized gains	0.0
Unrealized losses	$ (0.1)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

DEBT - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Mar. 11, 2021
Debt Instrument [Line Items]
Deferred financing costs	$ 32.5	$ 36.1
Face value	2,443.0	2,452.5
First Lien Term Loans
Debt Instrument [Line Items]
Face value	$ 1,900.0
Percentage of original aggregate principal amount	0.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Face value	$ 0.0
Maximum borrowing capacity	$ 600.0
First-priority net senior secured leverage ratio	0.96
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
First-priority net senior secured leverage ratio covenant	6.25
Senior Notes
Debt Instrument [Line Items]
Face value	$ 600.0	$ 600.0
Maximum borrowing capacity			$ 600.0
Interest rate	4.25%		4.25%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income	$ 139.6	$ 159.8
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	23.8	22.1
Amortization of intangible assets	54.1	55.5
Impairment charges	7.0	9.7
Stock-based compensation	46.6	54.5
Amortization of loan discount	3.7	3.4
Change in contingent consideration	(13.4)	0.0
Change in deferred taxes, net	(6.4)	(7.8)
Loss from foreign currency	0.5	(3.1)
Non-cash lease expenses (income)	(3.0)	0.0
Changes in operating assets and liabilities:
Accounts receivable	10.6	(18.4)
Prepaid expenses and other current and non-current assets	8.4	16.2
Accounts payable	(34.3)	(9.4)
Accrued expenses and other current and non-current liabilities	(57.1)	(55.0)
Net cash provided by operating activities	180.1	227.5
Cash flows from investing activities
Purchase of property and equipment	(23.3)	(9.2)
Capitalization of internal use software costs	(19.5)	(18.6)
Purchase of software for internal use	(15.2)	(4.1)
Purchase of short-term investments	(390.1)	0.0
Other investing activities	(1.0)	(1.1)
Net cash used in investing activities	(449.1)	(33.0)
Cash flows from financing activities
Dividend paid	(37.1)	0.0
Repayments on bank borrowings	(9.5)	(9.5)
Payment of tax withholdings on stock-based payments	(1.3)	(1.9)
Net cash out flow for business acquisitions and other	(0.7)	0.0
Net cash used in financing activities	(48.6)	(11.4)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(2.3)	3.6
Net change in cash, cash equivalents and restricted cash	(319.9)	186.7
Cash, cash equivalents and restricted cash at the beginning of the period	1,031.7	770.4
Cash, cash equivalents and restricted cash at the end of the period	711.8	957.1
Supplemental cash flow disclosures
Cash paid for income taxes	62.9	90.8
Cash paid for interest	73.9	73.4
Cash received for interest	27.5	9.7
Non-cash financing and investing activities
Accrued dividend	37.2	0.0
Right-of-use assets acquired under operating leases	3.4	13.1
Capitalization of stock-based compensation costs	$ 1.1	$ 1.4

DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instrument Activity

The following table summarizes the volume of derivative instrument activity (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Derivative instruments - foreign currency derivative contracts	$	65.4	$	54.0	$	105.4	$	92.7
Derivative instruments - interest rate swaps	—		—		—		500.0
Derivative instruments - others (non-hedging)	—		(0.3)		—		1.6

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Contract receivable collection period		30 days
Contract liabilities recognized	$ 10.3	$ 33.7

FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Contingent Consideration Payable (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Business Combination, Contingent Consideration [Roll Forward]
Fair value adjustments based upon post-acquisition performance		$ (13.4)	$ 0.0
G.S InnPlay Labs
Business Combination, Contingent Consideration [Roll Forward]
Fair value adjustments based upon post-acquisition performance	$ (16.2)
Ending balance	51.0	51.0
Business combination, contingent consideration, liability	51.0	51.0
Youda Games
Business Combination, Contingent Consideration [Roll Forward]
Ending balance	2.4	2.4
Business combination, contingent consideration, liability	2.4	2.4
Level 3
Business Combination, Contingent Consideration [Roll Forward]
Beginning balance		66.8
Fair value adjustments based upon post-acquisition performance		(13.4)
Ending balance	53.4	53.4
Business combination, contingent consideration, liability	$ 53.4	$ 53.4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables show a summary of changes in accumulated other comprehensive income (loss), net of tax, by component for the three and six months ended June 30, 2024 and 2023 (in millions):


	Foreign Currency Translation		Interest Rate Swaps		Foreign Currency Derivative Contracts		Total
Balance as of January 1, 2024	$	(10.0)	$	27.8	$	2.8	$	20.6
Other comprehensive income (loss) before reclassifications	(4.0)		14.5		(2.5)		8.0
Amounts reclassified from accumulated other comprehensive income (loss)	—		(6.2)		(0.1)		(6.3)
Balance as of March 31, 2024	(14.0)		36.1		0.2		22.3
Other comprehensive income (loss) before reclassifications	(1.5)		5.1		(3.5)		0.1
Amounts reclassified from accumulated other comprehensive income	—		(6.3)		1.4		(4.9)
Balance as of June 30, 2024	$	(15.5)	$	34.9	$	(1.9)	$	17.5


	Foreign Currency Translation		Interest Rate Swaps		Foreign Currency Derivative Contracts		Total
Balance as of January 1, 2023	$	(15.6)	$	37.7	$	(4.5)	$	17.6
Other comprehensive income (loss) before reclassifications	3.1		(4.0)		(2.0)		(2.9)
Amounts reclassified from accumulated other comprehensive income (loss)	—		(4.2)		2.4		(1.8)
Balance as of March 31, 2023	(12.5)		29.5		(4.1)		12.9
Other comprehensive income (loss) before reclassifications	(0.2)		20.5		(2.4)		17.9
Amounts reclassified from accumulated other comprehensive income	—		(5.5)		2.2		(3.3)
Balance as of June 30, 2023	$	(12.7)	$	44.5	$	(4.3)	$	27.5

The amounts in the summary of changes in accumulated other comprehensive income (loss) tables, above, are net of tax expense/(benefits) as follows (in millions):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Interest rate swaps	$	(0.3)	$	4.5	$	2.2	$	2.0
Foreign currency derivative contracts	(0.4)		0.1		(0.9)		—

Amounts reclassified from accumulated other comprehensive income for interest rate swaps and foreign currency derivative contracts were reclassified to interest expense and operating expenses, respectively, in the Company’s consolidated statements of comprehensive income during the three and six months ended June 30, 2024 and 2023.

FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Short-term investments	$ 390.1	$ 0.0
Money market funds \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	346.2	524.4
Term deposits \| Level 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	66.2	290.3
Short-term investments	132.8	0.0
Commercial papers \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Cash equivalents	129.6	104.8
Short-term investments	$ 257.3	$ 0.0
Interest rate swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities, including employee related benefits	Other long-term liabilities, including employee related benefits
Interest rate swaps \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Prepaid expenses and other current assets	$ 27.8	$ 25.3
Other non-current assets	17.7	15.2
Other long-term liabilities, including employee related benefits	$ 0.0	$ 4.4
Foreign currency derivative contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Foreign currency derivative contracts \| Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Prepaid expenses and other current assets	$ 0.9	$ 4.3
Accrued expenses and other current liabilities	$ 3.2	$ 0.9

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in millions, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
Numerator:
Net income	$	86.6	$	75.7	$	139.6	$	159.8
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	371.4		365.9		370.9		365.3
Stock-based compensation awards	0.4		0.5		0.3		0.5
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	371.8		366.4		371.3		365.8
Net income per share, basic	$	0.23	$	0.21	$	0.38	$	0.44
Net income per share, diluted	$	0.23	$	0.21	$	0.38	$	0.44

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding employee equity

awards were excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive for the periods presented (in millions):


	Three months ended June 30,		Six months ended June 30,
	2024	2023	2024	2023
Stock options	1.5	2.1	1.6	2.6
RSUs	15.0	10.9	18.8	12.2
Total	16.5	13.0	20.4	14.8

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 160.0	$ 171.5
Contract assets	10.9	12.5
Contract liabilities	$ 40.0	$ 46.0

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (180.4)	$ (221.5)	$ (460.7)	$ (568.6)
Other comprehensive income (loss) before reclassifications	0.1	8.0	17.9	(2.9)
Amounts reclassified from accumulated other comprehensive income (loss)	(4.9)	(6.3)	(3.3)	(1.8)
Ending balance	(112.9)	(180.4)	(344.9)	(460.7)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	22.3	20.6	12.9	17.6
Ending balance	17.5	22.3	27.5	12.9
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(14.0)	(10.0)	(12.5)	(15.6)
Other comprehensive income (loss) before reclassifications	(1.5)	(4.0)	(0.2)	3.1
Amounts reclassified from accumulated other comprehensive income (loss)	0.0	0.0	0.0	0.0
Ending balance	(15.5)	(14.0)	(12.7)	(12.5)
Derivative Contracts \| Interest rate swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	36.1	27.8	29.5	37.7
Other comprehensive income (loss) before reclassifications	5.1	14.5	20.5	(4.0)
Amounts reclassified from accumulated other comprehensive income (loss)	(6.3)	(6.2)	(5.5)	(4.2)
Ending balance	34.9	36.1	44.5	29.5
Derivative Contracts \| Foreign currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0.2	2.8	(4.1)	(4.5)
Other comprehensive income (loss) before reclassifications	(3.5)	(2.5)	(2.4)	(2.0)
Amounts reclassified from accumulated other comprehensive income (loss)	1.4	(0.1)	2.2	2.4
Ending balance	$ (1.9)	$ 0.2	$ (4.3)	$ (4.1)

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
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Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
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-Publisher FASB
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+ Details

INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation


	Three months ended June 30,						Six months ended June 30,
(in millions, except tax rate)	2024			2023			2024			2023
Income before income taxes	$	120.3		$	116.1		$	195.2		$	239.9
Provision for income taxes	$	33.7		$	40.4		$	55.6		$	80.1
Effective tax rate	28.0		%	34.8		%	28.5		%	33.4		%

NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	16.5	13.0	20.4	14.8
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	1.5	2.1	1.6	2.6
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	15.0	10.9	18.8	12.2
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	1.5	2.2	1.5	2.2

EQUITY TRANSACTIONS AND STOCK INCENTIVE PLAN - Schedule of Stock Based Compensation, Net of Capitalized, Amount (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs, net of amounts capitalized	$ 22.9	$ 25.3	$ 46.6	$ 54.5
Research and development expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs, net of amounts capitalized	7.8	9.5	15.9	19.0
Sales and marketing expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs, net of amounts capitalized	1.6	2.4	3.4	4.8
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation costs, net of amounts capitalized	$ 13.5	$ 13.4	$ 27.3	$ 30.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of Long-Lived Assets by Country of Domicile

The Company’s long-lived assets, net, by country of domicile are as follows (in millions):


	June 30, 2024		December 31, 2023

Israel	$	86.4	$	94.0
USA	64.0		64.8
Ukraine	18.6		21.8
Other	37.2		39.6
Total long-lived assets, net	$	206.2	$	220.2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Employees and related expenses	$ 121.8	$ 162.5
Accrued expenses	83.2	93.9
Media buy	64.8	54.5
Deferred revenues	40.0	46.0
Dividend payable	37.2	0.0
Tax accruals	34.2	35.4
Contingent consideration	31.4	46.0
Total accrued expenses and other current liabilities	$ 412.6	$ 438.3