0001597033-22-000093 | 10-Q | XBRL Viewer

(259,979)

(260,678)

215

484

^[1]

(5,428)

2,900,693

764,947

(12,434)

$ 29

148

$ (12,611)

Preferred stock, ending balance (in shares) at Mar. 31, 2021

24,426

3,340,000

Stockholders' equity, ending balance at Mar. 31, 2021

31,739

$ 33

$ 3,416

3,009,651

$ (487,401)

(2,365,730)

(135,742)

7,512

Common stock, ending balance (in shares) at Dec. 31, 2020

338,661,960

Treasury stock, ending balance (in shares) at Mar. 31, 2021

22,130,174

Preferred stock, beginning balance (in shares) at Dec. 31, 2020

3,340,000

Stockholders' equity, beginning balance at Dec. 31, 2020

285,154

$ 33

$ 3,387

2,985,077

$ (474,790)

(2,099,624)

(135,957)

7,028

Common stock, beginning balance (in shares) at Sep. 30, 2021

345,752,291

Treasury stock, beginning balance (in shares) at Dec. 31, 2020

21,365,227

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

Preferred stock, ending balance (in shares) at Sep. 30, 2021

(696,764)

3,340,000

Stockholders' equity, ending balance at Sep. 30, 2021

(355,077)

$ 33

$ 3,458

3,080,949

$ (497,944)

(2,857,653)

(92,605)

8,685

Common stock, ending balance (in shares) at Dec. 31, 2020

338,661,960

Treasury stock, ending balance (in shares) at Sep. 30, 2021

22,910,314

Preferred stock, beginning balance (in shares) at Mar. 31, 2021

3,340,000

Stockholders' equity, beginning balance at Mar. 31, 2021

31,739

$ 33

$ 3,416

3,009,651

$ (487,401)

(2,365,730)

(135,742)

7,512

Common stock, beginning balance (in shares) at Jun. 30, 2021

345,209,840

Treasury stock, beginning balance (in shares) at Mar. 31, 2021

22,130,174

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

(215,824)

(245,854)

29,571

459

^[1]

(5,428)

2,377,690

714,622

(9,582)

$ 24

214

$ (9,820)

Issuance of common stock upon conversion of exchangeable notes (in shares)

29,478

1,269,497

Issuance of common stock upon conversion of exchangeable notes

9,825

$ 12

9,813

Preferred stock, ending balance (in shares) at Jun. 30, 2021

3,340,000

Stockholders' equity, ending balance at Jun. 30, 2021

(159,792)

$ 33

$ 3,452

3,049,156

$ (497,221)

(2,617,012)

(106,171)

7,971

Common stock, ending balance (in shares) at Mar. 31, 2021

341,562,653

Treasury stock, ending balance (in shares) at Jun. 30, 2021

22,844,796

Common stock, beginning balance (in shares) at Sep. 30, 2021

345,752,291

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

(220,961)

(235,241)

13,566

714

^[1]

(5,400)

542,451

65,518

(362)

$ 6

355

$ (723)

Settlement of exchangeable notes

32,218

(780)

Preferred stock, ending balance (in shares) at Sep. 30, 2021

3,340,000

Stockholders' equity, ending balance at Sep. 30, 2021

$ (355,077)

$ 33

$ 3,458

3,080,949

$ (497,944)

(2,857,653)

(92,605)

8,685

Common stock, ending balance (in shares) at Jun. 30, 2021

345,209,840

Treasury stock, ending balance (in shares) at Sep. 30, 2021

22,910,314

Preferred stock, beginning balance (in shares) at Dec. 31, 2021

3,290,000

Stockholders' equity, beginning balance at Dec. 31, 2021

$ (499,717)

$ 33

$ 3,464

3,115,719

$ (498,141)

(3,049,695)

(80,287)

9,190

Common stock, beginning balance (in shares) at Mar. 31, 2022

350,314,109

Treasury stock, beginning balance (in shares) at Dec. 31, 2021

22,929,668

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

50,142

47,406

2,464

272

^[1]

(5,346)

3,883,688

1,077,178

(10,270)

$ 39

(9)

$ (10,300)

Preferred stock, ending balance (in shares) at Mar. 31, 2022

27,605

Other

(119)

3,290,000

Stockholders' equity, ending balance at Mar. 31, 2022

$ (437,705)

$ 33

$ 3,503

3,143,315

$ (508,441)

(3,007,635)

(77,823)

9,343

Common stock, ending balance (in shares) at Dec. 31, 2021

323,501,000

346,430,421

Treasury stock, ending balance (in shares) at Mar. 31, 2022

24,006,846

Preferred stock, beginning balance (in shares) at Dec. 31, 2021

3,290,000

Stockholders' equity, beginning balance at Dec. 31, 2021

$ (499,717)

$ 33

$ 3,464

3,115,719

$ (498,141)

(3,049,695)

(80,287)

9,190

Common stock, beginning balance (in shares) at Sep. 30, 2022

328,327,000

353,203,907

Treasury stock, beginning balance (in shares) at Dec. 31, 2021

22,929,668

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

Preferred stock, ending balance (in shares) at Sep. 30, 2022

$ (270,377)

3,290,000

Stockholders' equity, ending balance at Sep. 30, 2022

$ (731,996)

$ 33

$ 3,532

3,185,790

$ (513,988)

(3,341,091)

(77,240)

10,968

Common stock, ending balance (in shares) at Dec. 31, 2021

323,501,000

346,430,421

Treasury stock, ending balance (in shares) at Sep. 30, 2022

24,877,308

Preferred stock, beginning balance (in shares) at Mar. 31, 2022

3,290,000

Stockholders' equity, beginning balance at Mar. 31, 2022

$ (437,705)

$ 33

$ 3,503

3,143,315

$ (508,441)

(3,007,635)

(77,823)

9,343

Common stock, beginning balance (in shares) at Jun. 30, 2022

352,943,330

Treasury stock, beginning balance (in shares) at Mar. 31, 2022

24,006,846

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

(184,624)

(187,387)

1,878

885

^[1]

(5,347)

2,629,221

777,678

(4,996)

$ 26

(1)

$ (5,021)

Preferred stock, ending balance (in shares) at Jun. 30, 2022

26,127

Other

(37)

3,290,000

Stockholders' equity, ending balance at Jun. 30, 2022

$ (606,582)

$ 33

$ 3,529

3,169,441

$ (513,462)

(3,200,369)

(75,945)

10,191

Common stock, ending balance (in shares) at Mar. 31, 2022

350,314,109

Treasury stock, ending balance (in shares) at Jun. 30, 2022

24,784,524

Common stock, beginning balance (in shares) at Sep. 30, 2022

328,327,000

353,203,907

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

$ (135,895)

(135,376)

(1,295)

776

^[1]

(5,346)

260,577

92,784

(523)

$ 3

$ (526)

Preferred stock, ending balance (in shares) at Sep. 30, 2022

16,349

Other

$ 1

3,290,000

Stockholders' equity, ending balance at Sep. 30, 2022

$ (731,996)

$ 33

$ 3,532

$ 3,185,790

$ (513,988)

$ (3,341,091)

$ (77,240)

$ 10,968

Common stock, ending balance (in shares) at Jun. 30, 2022

352,943,330

Treasury stock, ending balance (in shares) at Sep. 30, 2022

24,877,308

[1]	Our mandatory convertible preferred stock accumulates cumulative dividends at an annual rate of 6.50%.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY (Parenthetical)		3 Months Ended
	Aug. 24, 2020	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
6.50% Series A Mandatory Convertible Preferred Stock
Annual percentage rate	6.50%	6.50%	6.50%	6.50%	6.50%	6.50%	6.50%

General Information	9 Months Ended
General Information	Sep. 30, 2022
Accounting Policies [Abstract]
General Information	General Information Sabre Corporation is a Delaware corporation formed in December 2006. On March 30, 2007, Sabre Corporation acquired Sabre Holdings Corporation (“Sabre Holdings”). Sabre Holdings is the sole direct subsidiary of Sabre Corporation. Sabre GLBL Inc. ("Sabre GLBL") is the principal operating subsidiary and sole direct subsidiary of Sabre Holdings. Sabre GLBL or its direct or indirect subsidiaries conduct all of our businesses. In these consolidated financial statements, references to “Sabre,” the “Company,” “we,” “our,” “ours” and “us” refer to Sabre Corporation and its consolidated subsidiaries unless otherwise stated or the context otherwise requires. Recent Events—The travel industry continues to be adversely affected by the global health crisis due to the outbreak of the coronavirus, including variants ("COVID-19"), as well as by government directives that have been enacted to slow the spread of the virus. In 2020, we experienced significant decreases in transaction-based revenue in our Travel Solutions segment, including increased cancellation activity beyond what was initially estimated, as well as a reduction in SynXis Software and Services revenue in our Hospitality Solutions segment due to a decrease in transaction volumes as a result of the COVID-19 pandemic. As expected, this pandemic has continued to have a material impact to our consolidated financial results in 2021 and 2022. Despite the continued negative impacts of the COVID-19 pandemic on our business and global travel volumes, as COVID-19 vaccines have continued to be administered and some travel restrictions have been relaxed, we have seen gradual improvement in our key volume metrics during 2021 and 2022. With the continued increase in volumes, our incentive consideration costs are also increasing significantly compared to 2021 and 2020. The inputs into our judgments and estimates consider the economic implications of COVID-19 on our critical and significant accounting estimates. Our air booking cancellation reserve totaled $9 million and $18 million as of September 30, 2022, and December 31, 2021, respectively, as cancellation activity has continued to decline over the year. We believe our cash position and the liquidity measures we have taken will provide additional flexibility as we manage through the global economic recovery from the COVID-19 pandemic. As a result, we believe that we have resources to sufficiently fund our liquidity requirements over at least the next twelve months; however, given the magnitude of travel decline and the unknown duration of the COVID-19 impact, we will continue to monitor our liquidity levels and take additional steps should we determine they are necessary. Basis of Presentation—The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2022. The accompanying interim financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K filed with the SEC on February 18, 2022. We consolidate all majority-owned subsidiaries and companies over which we exercise control through majority voting rights. No entities are consolidated due to control through operating agreements, financing agreements or as the primary beneficiary of a variable interest entity. The consolidated financial statements include our accounts after elimination of all significant intercompany balances and transactions. All dollar amounts in the financial statements and the tables in the notes, except per share amounts, are stated in thousands of U.S. dollars unless otherwise indicated. All amounts in the notes reference results from continuing operations unless otherwise indicated. Use of Estimates—The preparation of these interim financial statements in conformity with GAAP requires that certain amounts be recorded based on estimates and assumptions made by management. Actual results could differ from these estimates and assumptions. Our accounting policies that utilize significant estimates and assumptions include: (i) estimation for revenue recognition and multiple performance obligation arrangements, (ii) determination of the fair value of assets and liabilities acquired in a business combination, (iii) the evaluation of the recoverability of the carrying value of long-lived assets and goodwill, (iv) assumptions utilized to test recoverability of capitalized implementation costs and customer and subscriber advances, (v) judgments in capitalization of software developed for internal use, (vi) the evaluation of uncertainties surrounding the calculation of our tax assets and liabilities, (vii) estimation of the air booking cancellation reserve, and (viii) the evaluation of the allowance for credit losses. Our use of estimates and the related accounting policies are discussed in the consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K filed with the SEC on February 18, 2022. Given the uncertainties surrounding the duration and effects of COVID-19, including any variants, we cannot provide assurance that the assumptions used in our estimates will be accurate and the impacts could be material on our cancellation reserves, credit loss provisions and results of operations. Adoption of New Accounting Standards In March 2022, the Financial Accounting Standards Board ("FASB") issued updated guidance on derivatives and hedging which allows entities to apply fair value hedging to closed portfolios of prepayable financial assets without having to consider prepayment risk or credit risk when measuring the assets. The amendments allow multiple hedged layers to be designated for a single closed portfolio for financial assets or one or more beneficial interests secured by a portfolio of financial instruments. As a result, an entity can achieve hedge accounting for hedges of a greater proportion of the interest rate risk inherent in the assets included in the closed portfolio, further aligning hedge accounting with risk management strategies. The standard is effective for public entities for fiscal years beginning after December 15, 2022, with early adoption permitted. We adopted this standard in the first quarter of 2022 and there was no impact to our consolidated financial statements for the nine months ended September 30, 2022 as a result of the adoption.

Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Contract Balances

Revenue recognition for a significant portion of our revenue coincides with normal billing terms, including our transactional revenues, Software-as-a-Service ("SaaS") revenues, and hosted revenues. Timing differences among revenue recognition, unconditional rights to bill, and receipt of contract consideration may result in contract assets or contract liabilities.

The following table presents our assets and liabilities with customers as of September 30, 2022 and December 31, 2021 (in thousands).


Account	Consolidated Balance Sheet Location	September 30, 2022		December 31, 2021
Contract assets and customer advances and discounts(1)	Prepaid expenses and other current assets / other assets, net	$	64,657	$	79,682
Trade and unbilled receivables, net	Accounts receivable, net	399,677		258,800
Long-term trade unbilled receivables, net	Other assets, net	13,520		23,709
Contract liabilities	Deferred revenues / other noncurrent liabilities	126,756		135,273

______________________

(1) Includes contract assets of $12 million and $11 million for September 30, 2022 and December 31, 2021, respectively.

During the nine months ended September 30, 2022, we recognized revenue of approximately $28 million from contract liabilities that existed as of January 1, 2022. Our long-term trade unbilled receivables, net relate to fixed license fees billed over the contractual period and recognized when the customer gains control of the software. During the three months ended September 30, 2022, we recorded an impairment of $5 million on our unbilled receivables due to the expected impact of Russian legislation and related regulations enacted during the quarter on the future recoverability of these assets. We evaluate collectability of our accounts receivable based on a combination of factors and record reserves as described further in Note 5. Credit Losses.

Revenue

The following table presents our revenues disaggregated by business (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Distribution	$	430,826	$	245,421	$	1,205,252	$	615,448
IT Solutions	172,821		144,932		531,542		437,165
Total Travel Solutions	603,647		390,353		1,736,794		1,052,613
SynXis Software and Services	60,520		48,390		168,879		131,650
Other	6,977		6,789		20,825		16,495
Total Hospitality Solutions	67,497		55,179		189,704		148,145
Eliminations	(7,750)		(4,446)		(20,662)		(12,520)
Total Sabre Revenue	$	663,394	$	441,086	$	1,905,836	$	1,188,238

We may occasionally recognize revenue in the current period for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to our assessment of whether an estimate of variable consideration is constrained. For the nine months ended September 30, 2022, the impact on revenue recognized in the current period from performance obligations partially or fully satisfied in the previous period is $27 million, which is primarily due to the recognition of revenue that was previously deferred but became recognizable due to a change in facts and circumstances associated with an IT Solutions customer located in Russia. It is no longer considered probable that this revenue will be reversed and this amount was fully paid by the customer.

Unearned performance obligations primarily consist of deferred revenue for fixed implementation fees and future product implementations, which are included in deferred revenue and other noncurrent liabilities in our consolidated balance sheet. We have not disclosed the performance obligation related to contracts containing minimum transaction volume, as it represents a subset of our business, and therefore would not be meaningful in understanding the total future revenues expected to be earned from our long-term contracts.

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.

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Business Combination and Asset Acquisition [Abstract]

Acquisitions and Dispositions

9 Months Ended

Sep. 30, 2022

Acquisitions and Dispositions

Conferma

In August 2022, we completed the acquisition of Conferma Limited ("Conferma"), a virtual payments technology company, to expand our investment in technology for the payments ecosystem in the travel industry. We acquired all of the outstanding stock and ownership interest of Conferma through the exercise of a call option, for net cash of $65 million and the conversion of a pre-existing loan into share capital of $11 million. We recognized a gain of approximately $4 million upon conversion of the loan for the difference between the carrying value and fair value of the loan, which is recorded to Other, net within our results of operations. Conferma is part of our Travel Solutions segment.

Preliminary Purchase Price Allocation

The purchase price allocation presented below is preliminary and based on available information as of the filing date of this Quarterly Report on Form 10-Q. Primarily, we consider the accounting related to intangible assets and the associated deferred taxes to be incomplete due to ongoing analysis. We expect to finalize the purchase price allocation during the first half of 2023. A summary of the acquisition price and estimated fair values of assets acquired and liabilities assumed as of the date of acquisition is as follows (in thousands):




Cash and cash equivalents	$	7,203
Other current and non-current assets	5,950
Goodwill	51,992
Intangible assets	22,644
Current and non-current liabilities	(4,053)
Total	83,736
Fair value of loan converted to equity in Conferma	(11,281)
Total acquisition price	$	72,455

In connection with this acquisition, we recognized a $6 million tax benefit during the three months ended September 30, 2022 related to the release of valuation allowances on prior period net operating loss carryovers. This benefit is based on preliminary purchase accounting and subject to change based on the final valuation.

Under the purchase accounting method, the total purchase price was allocated to the net assets of Conferma based upon estimated fair values as of the acquisition date. The excess purchase price over the estimated fair value of the net tangible and intangible assets was recorded as goodwill, reflecting the growth potential of the business.

The acquisition of Conferma did not have a material impact to our consolidated financial statements, and therefore pro forma information is not presented.

AirCentre Disposition

On October 28, 2021, we announced that we entered into an agreement with a third party to sell our suite of flight and crew management and optimization solutions, which represents our AirCentre airline operations portfolio. The assets and liabilities associated with the AirCentre portfolio are presented as held for sale on our consolidated balance sheets as of December 31, 2021. On February 28, 2022, we completed the sale of AirCentre to a third party for net cash proceeds of $392 million. The operating results of AirCentre are included within Travel Solutions for all periods presented through the date of sale. The net assets of AirCentre disposed of primarily included goodwill of $146 million, working capital of $17 million, and other assets, net of $25 million. We recorded a pre-tax gain on sale of approximately $180 million, which includes an adjustment recorded in the second quarter of 2022 related to $12 million in contingencies identified in connection with the sale (after-tax $112 million) in Other, net in our consolidated statements of operations for the nine months ended September 30, 2022.

In connection with the closing of the transaction, we entered into a Transition Services Agreement ("TSA") with the acquirer, under which we will provide transition services consisting of technology, administrative and other services for up to a twenty-four month period to provide for an orderly transition and facilitate the ongoing operations of the AirCentre business. Consideration received under the TSA is primarily based on a fixed fee for each service provided. To the extent a contract was unable to be assigned by the time of close, we will continue to invoice and collect any relevant consideration and transfer the economic benefit to the acquirer.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the nine months ended September 30, 2022, we recognized a $2 million income tax benefit, representing an effective tax rate of less than 1%, compared to an income tax benefit of $5 million, representing an effective tax rate of less than 1% for the nine months ended September 30, 2021. The slight increase in the effective tax rate for the nine months ended September 30, 2022 as compared to the same period in 2021 was primarily due to a decrease in valuation allowance recorded in the current period and various discrete items recorded in each of the respective nine month periods. The difference between our effective tax rates and the U.S. federal statutory income tax rate primarily results from valuation allowances, our geographic mix of taxable income in various tax jurisdictions, tax permanent differences and tax credits. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. We consider the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax-planning strategies in making this assessment. We believe it is more likely than not that the results of future operations will not generate sufficient taxable income in the U.S. and in certain foreign jurisdictions to realize the full benefit of its deferred tax assets. On the basis of this evaluation, as of September 30, 2022, a cumulative valuation allowance of $450 million has been recorded to recognize only the portion of the deferred tax asset that is more likely than not to be realized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased. We recognize liabilities when we believe that an uncertain tax position may not be fully sustained upon examination by the tax authorities. This evaluation requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. When facts and circumstances change, we reassess these probabilities and record any changes in the consolidated financial statements as appropriate. Our net unrecognized tax benefits, excluding interest and penalties, included in our consolidated balance sheets, were $77 million and $85 million as of September 30, 2022 and December 31, 2021, respectively.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Credit Losses

9 Months Ended

Sep. 30, 2022

Credit Loss [Abstract]

Credit Losses

We are exposed to credit losses primarily through our sales of services provided to participants in the travel and transportation industry, which we consider to be our singular portfolio segment. We develop and document our methodology used in determining the allowance for credit losses at the portfolio segment level. Within the travel portfolio segment, we identify airlines, hoteliers and travel agencies as each presenting unique risk characteristics associated with historical credit loss patterns, and we determine the adequacy of our allowance for credit loss by assessing the risks and losses inherent in our receivables related to each.

We evaluate the collectability of our receivables based on a combination of factors. In circumstances where we are aware of a specific customer’s inability to meet its financial obligations to us, such as bankruptcy filings or failure to pay amounts due to us or others, we specifically reserve for bad debts against amounts due to reduce the recorded receivable to the amount we reasonably believe will be collected. For all other customers, we record reserves for receivables, including unbilled receivables and contract assets, based on historical experience and the length of time the receivables are past due. The estimate of credit losses is developed by analyzing historical twelve-month collection rates and adjusting for current customer-specific factors indicating financial instability and other macroeconomic factors that correlate with the expected collectability of our receivables.

Our allowance for credit losses relates to all financial assets, primarily trade receivables due in less than one year recorded in Accounts Receivable, net on our consolidated balance sheets. Our allowance for credit losses for the nine months ended September 30, 2022 for our portfolio segment is summarized as follows (in thousands):


	Nine Months Ended September 30, 2022
Balance at December 31, 2021	$	59,646

Provision for expected credit losses	550
Write-offs	(9,991)
Other	(1,147)

Balance at September 30, 2022	$	49,058

In the prior year quarter and throughout the year of 2021, we experienced the reversal of certain provisions recorded during 2020, as the economy began to recover and payment experience began to improve. Given the uncertainties surrounding the duration and effects of COVID-19, including any variants, we cannot provide assurance that the assumptions used in our estimates will be accurate and actual write-offs may vary from our estimates.

Debt

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Debt

As of September 30, 2022 and December 31, 2021, our outstanding debt included in our consolidated balance sheets totaled $4,742 million and $4,753 million, respectively, which are net of debt issuance costs of $38 million and $45 million, respectively, and unamortized discounts of $46 million and $9 million, respectively. The following table sets forth the face values of our outstanding debt as of September 30, 2022 and December 31, 2021 (in thousands):


	Rate	Maturity	September 30, 2022		December 31, 2021
Senior secured credit facilities:

Term Loan B	L + 2.00%	February 2024	$	536,457	$	1,805,806

Term Loan B-1	L + 3.50%	December 2027	398,950		401,980
Term Loan B-2	L + 3.50%	December 2027	635,950		640,780



2022 Term Loan B-1	S(1) + 4.25%	June 2028	621,875		—
2022 Term Loan B-2	S(1) + 5.00%	June 2028	675,000		—
9.25% senior secured notes due 2025	9.250%	April 2025	775,000		775,000
7.375% senior secured notes due 2025	7.375%	September 2025	850,000		850,000
4.00% senior exchangeable notes due 2025	4.000%	April 2025	333,220		333,220

Face value of total debt outstanding			4,826,452		4,806,786
Less current portion of debt outstanding			(23,480)		(29,290)
Face value of long-term debt outstanding			$	4,802,972	$	4,777,496

______________________

(1) Represents the Secured Overnight Financing Rate ("SOFR")

We had outstanding letters of credit totaling $11 million and $10 million as of September 30, 2022 and December 31, 2021, respectively, which were secured by a $20 million cash collateral deposit account.

Senior Secured Credit Facilities

Refinancing Transactions

On August 23, 2017, Sabre GLBL entered into a Fourth Incremental Term Facility Amendment to our Amended and Restated Credit Agreement, Term Loan A Refinancing Amendment to our Amended and Restated Credit Agreement, and Second Revolving Facility Refinancing Amendment to our Amended and Restated Credit Agreement (the “2017 Refinancing”). The 2017 Refinancing included a $400 million revolving credit facility ("Revolver") as well as the application of the proceeds of the approximately $1,891 million incremental Term Loan B facility (“Term Loan B”) and $570 million Term Loan A facility (“Term Loan A”).

On August 27, 2020, Sabre GLBL entered into a Third Revolving Facility Refinancing Amendment to the Amended and Restated Credit Agreement (the "Third Revolving Refinancing Amendment") and the First Term A Loan Extension Amendment to the Amended and Restated Credit Agreement (the "Term A Loan Extension Amendment" and, together with the Third Revolving Refinancing Amendment, the "2020 Refinancing"), which extended the maturity of the Revolver from July 1, 2022 to November 23, 2023 at the earliest and February 22, 2024 at the latest, depending on certain "springing" maturity conditions as described in the Third Revolving Refinancing Amendment. In addition to extending the maturity date of the Revolver, the 2020 Refinancing also provided that, during any covenant suspension resulting from a "Material Travel Event Disruption" (as defined in the Amended and Restated Credit Agreement), including during the current covenant suspension period, we were required to maintain liquidity of at least $300 million on a monthly basis, which was lowered in December 2020 from $450 million. In addition, during this covenant suspension, the 2020 Refinancing limited certain payments to equity holders, certain investments, certain prepayments of unsecured debt and the ability of certain subsidiaries to incur additional debt. The applicable margins for the Revolver were between 2.50% and 1.75% per annum for Eurocurrency rate loans and between 1.50% and 0.75% per annum for base rate loans, with the applicable margin for any quarter reduced by 25 basis points (up to 75 basis points total) if the Senior Secured First-Lien Net Leverage Ratio (as defined in the Amended and Restated Credit Agreement) was less than 3.75 to 1.0, 3.00 to 1.0, or 2.25 to 1.0, respectively. These interest rate spreads for the Revolver were increased by 0.25%, during covenant suspension, in connection with the 2020 Refinancing.

On December 17, 2020, Sabre GLBL entered into a Sixth Term A Loan Refinancing and Incremental Amendment to our Amended and Restated Credit Agreement, resulting in additional Term Loan B borrowings of $637 million ("Other Term B Loans") due December 17, 2027. The applicable interest rate margins for the Other Term B Loans are 4.00% per annum for Eurocurrency rate loans and 3.00% per annum for base rate loans, with a floor of 0.75% for the Eurocurrency rate, and 1.75% for the base rate, respectively. The net proceeds of $623 million from the issuance, net of underwriting fees and commissions, were used to fully redeem both the $500 million outstanding 5.25% senior secured notes due November 2023 and the $134 million outstanding Term Loan A. We incurred no material additional indebtedness as a result of these transactions, other than amounts for certain interest, fees and expenses. We recognized a loss on extinguishment of debt of $11 million during the year ended

December 31, 2020 in connection with these transactions, which consisted of a redemption premium of $6 million and the write-off of unamortized debt issuance costs of $5 million.

On July 12, 2021, we entered into agreements to refinance the Other Term Loan B facility and the Revolver, and terminated the revolving commitments thereunder (the "2021 Refinancing"). We incurred no additional indebtedness as a result of the 2021 Refinancing, other than amounts covering certain interest, fees and expenses. Among other things, the 2021 Refinancing amended the financial performance covenant to remove the minimum liquidity requirement of $300 million, the Total Net Leverage Ratio maintenance requirement, and certain other limitations. The 2021 Refinancing included the application of the proceeds of (i) a new $404 million term loan “B-1” facility (the “New Term B-1 Facility”) and (ii) a new $644 million term loan “B-2” facility (the "New Term B-2 Facility" and together with the New Term B-1 Facility, the “New Facilities”), borrowed by Sabre GLBL under our Amended and Restated Credit Agreement, to pay down in full approximately $634 million of Other Term B Loans and the outstanding $400 million Revolver balance, and to terminate the revolving commitments thereunder. The remaining proceeds, net of a $3 million discount, were used to pay a $6 million redemption premium and $6 million in other fees associated with the refinancing. We recognized a loss on extinguishment of debt in connection with these transactions during the year ended December 31, 2021 of $13 million and debt modification costs for financing fees of $2 million recorded to Other, net. The New Facilities mature on December 17, 2027, and we have the ability to prepay the New Facilities after December 17, 2021 without a premium. In addition, on July 2, 2021, in anticipation of the Revolver repayment and termination of the revolving commitments (and related letter of credit subfacility), Sabre GLBL entered into a new $20 million bilateral letter of credit facility, which is secured by a cash collateral deposit account and included as restricted cash on our consolidated balance sheets.

On March 9, 2022, we entered into an amendment to refinance a portion of the Term Loan B facility (the "March 2022 Refinancing"). We incurred no additional indebtedness as a result of the March 2022 Refinancing, other than amounts covering discounts and certain fees and expenses. The March 2022 Refinancing included the application of the proceeds of a new $625 million term loan “B” facility (the “2022 Term Loan B-1 Facility”), borrowed by Sabre GLBL under our Amended and Restated Credit Agreement, with the effect of extending the maturity of approximately $623 million of the existing Term Loan B credit facility under the Amended and Restated Credit Agreement. The remaining proceeds, net of a discount of $1 million, were used to pay $1 million in other fees and expenses. We incurred an additional discount of $5 million and other fees of $3 million which were funded with cash on hand. We recognized a loss on extinguishment of debt in connection with the March 2022 Refinancing during the nine months ended September 30, 2022 of $4 million and debt modification costs for financing fees of $1 million recorded to Other, net. The 2022 Term Loan B-1 Facility matures on June 30, 2028 and offers us the ability to prepay or repay the 2022 Term Loan B-1 Facility after 12 months or to prepay or repay at a 101 premium before that date. The interest rates on the 2022 Term Loan B-1 Facility are based on Term SOFR, replacing LIBOR, plus an applicable margin.

On August 15, 2022, we entered into an amendment to refinance a portion of the Term Loan B facility (the "August 2022 Refinancing"). We incurred no additional indebtedness as a result of the August 2022 Refinancing, other than amounts covering discounts and certain fees and expenses. The August 2022 Refinancing included the application of the proceeds of a new $675 million term loan “B” facility (the “2022 Term Loan B-2 Facility”), borrowed by Sabre GLBL under our Amended and Restated Credit Agreement, with the effect of extending the maturity of approximately $647 million of the existing Term Loan B credit facility under the Amended and Restated Credit Agreement. The remaining proceeds, net of a discount of $25 million, were used to pay $3 million in other fees and expenses. We incurred an additional discount of $9 million and other fees of $2 million which were funded with cash on hand. We recognized debt modification costs for financing fees in connection with the August 2022 Refinancing during the nine months ended September 30, 2022 of $5 million recorded to Other, net. No loss on extinguishment of debt was recorded as a result of the August 2022 Refinancing. The 2022 Term Loan B-2 Facility matures on June 30, 2028 and offers us the ability to prepay or repay the 2022 Term Loan B-2 Facility after 12 months or to prepay or repay at a 101 premium before that date. The interest rates on the 2022 Term Loan B-2 Facility are based on Term SOFR, replacing LIBOR, plus an applicable margin.

Under the Amended and Restated Credit Agreement, the loan parties are subject to certain customary non-financial covenants, including restrictions on incurring certain types of indebtedness, creation of liens on certain assets, making of certain investments, and payment of dividends. We are further required to pay down the term loans with proceeds from certain asset sales, if not reinvested into the business within 15 months, as defined in the Amended and Restated Credit Agreement. As of September 30, 2022, we are in compliance with all covenants under the terms of the Amended and Restated Credit Agreement.

Exchangeable Notes

On April 17, 2020, Sabre GLBL entered into a new debt agreement consisting of $345 million aggregate principal amount of 4.000% senior exchangeable notes due 2025 (the “Exchangeable Notes”). The Exchangeable Notes are senior, unsecured obligations of Sabre GLBL, accrue interest payable semi-annually in arrears and mature on April 15, 2025, unless earlier repurchased or exchanged in accordance with specified circumstances and terms of the indenture governing the Exchangeable Notes. During the year ended December 31, 2021, a certain holder elected to exchange $10 million of the Exchangeable Notes for 1,269,497 shares of common stock, which we elected to settle in shares of our common stock. Additionally, certain holders elected to exchange $2 million of the Exchangeable Notes for $3 million in cash, which we elected to settle in cash. As of September 30, 2022, we have $333 million aggregate principal amount of Exchangeable Notes outstanding.

Under the terms of indenture, the notes are exchangeable into common stock of Sabre Corporation (referred to as "our common stock" herein) at the following times or circumstances:

•during any calendar quarter commencing after the calendar quarter ended June 30, 2020, if the last reported sale price per share of our common stock exceeds 130% of the exchange price for each of at least 20 trading days (whether or

not consecutive) during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;

•during the five consecutive business days immediately after any five consecutive trading day period (such five consecutive trading day period, the "Measurement Period") if the trading price per $1,000 principal amount of Exchangeable Notes, as determined following a request by their holder in accordance with the procedures in the indenture, for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of our common stock on such trading day and the exchange rate on such trading day;

•upon the occurrence of certain corporate events or distributions on our common stock, including but not limited to a “Fundamental Change” (as defined in the indenture governing the notes);

•upon the occurrence of specified corporate events; or

•on or after October 15, 2024, until the close of business on the second scheduled trading day immediately preceding the maturity date, April 15, 2025.

With certain exceptions, upon a Change of Control or other Fundamental Change (both as defined in the indenture governing the Exchangeable Notes), the holders of the Exchangeable Notes may require us to repurchase all or part of the principal amount of the Exchangeable Notes at a repurchase price equal to 100% of the principal amount of the Exchangeable Notes, plus any accrued and unpaid interest to, but excluding, the repurchase date. As of September 30, 2022, none of the conditions allowing holders of the Exchangeable Notes to exchange have been met.

The Exchangeable Notes are convertible at their holder’s election into shares of our common stock based on an initial conversion rate of 126.9499 shares of common stock per $1,000 principal amount of the Exchangeable Notes, which is equivalent to an initial conversion price of approximately $7.88 per share. The exchange rate is subject to anti-dilution and other adjustments. Upon conversion, Sabre GLBL will pay or deliver, as the case may be, cash, shares of our common stock or a combination of cash and shares of common stock, at our election. If a “Make-Whole Fundamental Change” (as defined in the Exchangeable Notes Indenture) occurs with respect to any Exchangeable Note and the exchange date for the exchange of such Exchangeable Note occurs during the related “Make-Whole Fundamental Change Exchange Period” (as defined in the Exchangeable Notes Indenture), then, subject to the provisions set forth in the Exchangeable Notes Indenture, the exchange rate applicable to such exchange will be increased by a number of shares set forth in the table contained in the Exchangeable Notes Indenture, based on a function of the time since origination and our stock price on the date of the occurrence of such Make-Whole Fundamental Change. The net proceeds received from the sale of the Exchangeable Notes of $336 million, net of underwriting fees and commissions, are being used for general corporate purposes.

The following table sets forth the carrying value of the Exchangeable Notes as of September 30, 2022 and December 31, 2021, (in thousands):


	September 30, 2022		December 31, 2021
Principal	$	333,220	$	333,220

Less: Unamortized debt issuance costs	6,221		7,917
Net Carrying Value	$	326,999	$	325,303

The following table sets forth interest expense recognized related to the Exchangeable Notes for the three and nine months ended September 30, 2022 and 2021 (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Contractual interest expense	$	3,332	$	3,344	$	9,997	$	10,244
Amortization of debt issuance costs	$	572	$	547	$	1,696	$	1,657

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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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

9 Months Ended

Sep. 30, 2022

Derivatives

Hedging Objectives—We are exposed to certain risks relating to ongoing business operations. The primary risks managed by using derivative instruments are foreign currency exchange rate risk and interest rate risk. Forward contracts on various foreign currencies are entered into to manage the foreign currency exchange rate risk on operational expenditures' exposure denominated in foreign currencies. Interest rate swaps are entered into to manage interest rate risk associated with our floating-rate borrowings.

In accordance with authoritative guidance on accounting for derivatives and hedging, we designate foreign currency forward contracts as cash flow hedges on operational exposure and interest rate swaps as cash flow hedges of floating-rate borrowings.

Cash Flow Hedging Strategy—To protect against the reduction in value of forecasted foreign currency cash flows, we hedge portions of our revenues and expenses denominated in foreign currencies with forward contracts. For example, when the

dollar strengthens significantly against the foreign currencies, the decline in present value of future foreign currency expense is offset by losses in the fair value of the forward contracts designated as hedges. Conversely, when the dollar weakens, the increase in the present value of future foreign currency expense is offset by gains in the fair value of the forward contracts. Due to the uncertainty driven by the COVID-19 pandemic on our foreign currency exposures, we have paused entering into new cash flow hedges of forecasted foreign currency cash flows until we have more clarity regarding the recovery trajectory and its impacts on net exposures.

We enter into interest rate swap agreements to manage interest rate risk exposure. The interest rate swap agreements modify our exposure to interest rate risk by converting floating-rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense and net earnings. These agreements involve the receipt of floating rate amounts in exchange for fixed rate interest payments over the life of the agreements without an exchange of the underlying principal amount.

For derivative instruments that are designated and qualify as cash flow hedges, the effective portions and ineffective portions of the gain or loss on the derivative instruments, and the hedge components excluded from the assessment of effectiveness, are reported as a component of other comprehensive income (loss) (“OCI”) and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. Cash flow hedges are classified in the same category in the consolidated statements of cash flows as the items being hedged and gains and losses on the derivative financial instruments are reported in cash provided by (used in) operating activities within the consolidated statements of cash flows. Derivatives not designated as hedging instruments are carried at fair value with changes in fair value reflected in Other, net in the consolidated statements of operations.

Forward Contracts—In order to hedge our operational expenditures' exposure to foreign currency movements, we were a party to certain foreign currency forward contracts that extended until December 31, 2020. We designated these instruments as cash flow hedges. As of September 30, 2022 and December 31, 2021, we had no unsettled forward contracts.

Interest Rate Swap Contracts—Interest rate swaps outstanding during the nine months ended September 30, 2022 and 2021 are as follows:

Notional Amount

Interest Rate
Received

Interest Rate Paid

Effective Date

Maturity Date

Designated as Hedging Instrument

$200 million

1 month SOFR(1)

1.71%(3)

April 30, 2022

December 31, 2023

$150 million

1 month SOFR(1)

2.79%(4)

June 30, 2022

December 31, 2023

$600 million

1 month LIBOR(2)

2.81%

December 31, 2020

December 31, 2021

______________________

(1) Subject to a 0.5% floor.

(2) Subject to a 0% floor.

(3) Fixed fee of 1.71% effective April 30, 2022, and expiring December 30, 2022, and 3.09% effective December 31, 2022, and expiring December 31, 2023.

(4) Fixed fee of 2.79% effective June 30, 2022, and expiring December 30, 2022, and 3.98% effective December 31, 2022, and expiring December 31, 2023.

In 2018, we entered into forward starting interest rate swaps to hedge the interest payments associated with $600 million of the floating-rate Term Loan B related to the year 2021. In April 2022, we entered into an interest rate swap to hedge the interest payments associated with $200 million of the floating-rate 2022 Term Loan B-1 for the years 2022 and 2023. In June 2022, we entered into an interest rate swap to hedge the interest payments associated with $150 million of the floating-rate 2022 Term Loan B-1 for the years 2022 and 2023. We designated these swaps as cash flow hedges.

We had no derivatives designated as hedging instruments as of December 31, 2021. The estimated fair values of our derivatives designated as hedging instruments as of September 30, 2022 are as follows (in thousands):

Derivative Assets (Liabilities)

Fair Value as of

Derivatives Designated as Hedging Instruments

Consolidated Balance Sheet Location

September 30, 2022

Interest rate swaps

Prepaid expenses and other current assets

3,850

Interest rate swaps

Other assets, net

757

Interest rate swaps

Other noncurrent liabilities

(256)

Total

4,351

The effects of derivative instruments, net of taxes, on OCI for the three and nine months ended September 30, 2022 and 2021 are as follows (in thousands):


	Amount of Gains Recognized in OCI on Derivative, Effective Portion
	Three Months Ended September 30,				Nine Months Ended September 30,

Derivatives in Cash Flow Hedging Relationships	2022		2021		2022		2021

Interest rate swaps	4,422		2,698		4,405		2,595
Total	$	4,422	$	2,698	$	4,405	$	2,595


		Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion
Derivatives in Cash Flow Hedging Relationships	Income Statement Location	Three Months Ended September 30,				Nine Months Ended September 30,

		2022		2021		2022		2021

Interest rate swaps	Interest expense, net	(41)		3,237		203		9,553
Total		$	(41)	$	3,237	$	203	$	9,553

Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market for that asset or liability. Guidance on fair value measurements and disclosures establishes a valuation hierarchy for disclosure of inputs used in measuring fair value defined as follows:

Level 1—Inputs are unadjusted quoted prices that are available in active markets for identical assets or liabilities.

Level 2—Inputs include quoted prices for similar assets and liabilities in active markets and quoted prices in non-active markets, inputs other than quoted prices that are observable, and inputs that are not directly observable, but are corroborated by observable market data.

Level 3—Inputs that are unobservable and are supported by little or no market activity and reflect the use of significant management judgment.

The classification of a financial asset or liability within the hierarchy is determined based on the least reliable level of input that is significant to the fair value measurement. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. We also consider the counterparty and our own non-performance risk in our assessment of fair value.

Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

Interest Rate Swaps—The fair value of our interest rate swaps is estimated using a combined income and market-based valuation methodology based upon Level 2 inputs, including credit ratings and forward interest rate yield curves obtained from independent pricing services.

Global Business Travel Group, Inc.("GBT") Investment—In May 2022, we acquired 8 million shares of Class A Common Stock, par value of $0.0001 per share, of GBT for an aggregate purchase price of $80 million. As of September 30, 2022, we continued to own these 8 million shares. The terms of these shares do not contain any restrictions that would impact our ability to sell the shares in the future. The fair value of our investment in GBT is based on its share price, a Level 1 input, as the stock is publicly traded on the New York Stock Exchange under the symbol GBTG.

The following tables present our assets that are required to be measured at fair value on a recurring basis as of September 30, 2022 (in thousands):


			Fair Value at Reporting Date Using
	September 30, 2022		Level 1		Level 2		Level 3
Derivatives (1)

Interest rate swap contracts	$	4,351	$	—	$	4,351	$	—
GBT Common Stock	45,280		45,280		—
Total	$	49,631	$	45,280	$	4,351	$	—

______________________

(1) See Note 7. Derivatives for further detail.

There were no (liabilities) assets that were required to be measured at fair value on a recurring basis as of December 31, 2021. There were no transfers between Levels 1 and 2 within the fair value hierarchy for the three and nine months ended September 30, 2022.

Unrealized losses recognized during the three and nine months ended September 30, 2022 from the investment in GBT totaled $5 million and $35 million, respectively.

Other Financial Instruments

The carrying value of our financial instruments including cash and cash equivalents, restricted cash and accounts receivable approximates their fair values due to the short term nature of these instruments. The fair values of our Exchangeable Notes, senior secured notes due 2025 and term loans under our Amended and Restated Credit Agreement are determined based on quoted market prices for a similar liability when traded as an asset in an active market, a Level 2 input.

The following table presents the fair value and carrying value of our senior notes and borrowings under our senior secured credit facilities as of September 30, 2022 and December 31, 2021 (in thousands):


	Fair Value at				Carrying Value at (1)
Financial Instrument	September 30, 2022		December 31, 2021		September 30, 2022		December 31, 2021

Term Loan B	$	530,087	$	1,767,432	$	535,971	$	1,803,318
Term Loan B-1	369,527		397,458		398,120		401,036
Term Loan B-2	574,740		633,171		631,234		635,416
2022 Term Loan B-1	581,064		—		615,450		—
2022 Term Loan B-2	638,719		—		641,393		—







9.25% senior secured notes due 2025	738,474		877,916		775,000		775,000
7.375% senior secured notes due 2025	763,024		886,423		850,000		850,000
4.00% senior exchangeable notes due 2025	316,367		454,459		333,220		333,220

______________________

(1)Excludes net unamortized debt issuance costs.

Assets that are Measured at Fair Value on a Nonrecurring Basis

We assess goodwill and other intangible assets with indefinite lives for impairment annually or more frequently if indicators arise. We continually monitor events and changes in circumstances such as changes in market conditions, near and long-term demand and other relevant factors, that could indicate that the fair value of any one of our reporting units may more likely than not have fallen below its respective carrying amount. We have not identified any triggering events or changes in circumstances since the performance of our annual goodwill impairment test that would require us to perform another goodwill impairment test and we did not record any goodwill impairment charges for the three and nine months ended September 30, 2022 or September 30, 2021. As we cannot predict the duration or scope of the COVID-19 pandemic, future impairments may occur and the negative financial impact to our consolidated financial statements and results of operations of potential future impairments cannot be reasonably estimated but could be material.

Accumulated Other Comprehensive Loss

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 + Details

Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

As of September 30, 2022 and December 31, 2021, the components of accumulated other comprehensive loss, net of related deferred income taxes, are as follows (in thousands):


	September 30, 2022		December 31, 2021
Defined benefit pension and other postretirement benefit plans	$	(77,924)	$	(84,773)
Unrealized foreign currency translation (loss) gain	(2,018)		6,282
Unrealized gain on interest rate swaps	4,608		—
Share of other comprehensive loss of equity method investments	(1,906)		(1,796)

Total accumulated other comprehensive loss, net of tax	$	(77,240)	$	(80,287)

The amortization of actuarial losses and periodic service credits associated with our retirement-related benefit plans is primarily included in Other, net in the consolidated statements of operations. On March 11, 2021, the American Rescue Plan Act ("ARPA") of 2021 was signed into law, which modified funding requirements for single-employer defined benefit pension plans by restarting and extending the amortization of funding shortfalls and extending and enhancing interest rate stabilization percentages. We have elected to use excess contributions resulting from a reduction to past contribution requirements allowed by ARPA to offset remaining required contributions. As of September 30, 2022, we have not contributed to our defined benefit pension plan in 2022 and do not expect to make any contributions for the year. See Note 7. Derivatives, for information on the income statement line items affected as the result of reclassification adjustments associated with derivatives.

Stock and Stockholders' Equity	9 Months Ended
Stock and Stockholders' Equity	Sep. 30, 2022
Equity [Abstract]
Stock and Stockholders' Equity	Stock and Stockholders' Equity Preferred Stock On August 24, 2020, we completed an offering of 3,340,000 shares of our 6.50% Series A Mandatory Convertible Preferred Stock (the "Preferred Stock"), which generated net proceeds of approximately $323 million for use as general corporate purposes. During the year ended December 31, 2021, a certain holder elected to convert 50,000 shares of preferred stock to 595,240 shares of common stock, leaving 3,290,000 shares outstanding. The Preferred Stock accumulates cumulative dividends at a rate per annum equal to 6.50% of the liquidation preference of $100 per share (equivalent to $6.50 annually per share) payable in cash or, subject to certain limitations, by delivery of shares of our common stock or any combination of cash and shares of our common stock, at our election; provided, however, that any undeclared and unpaid dividends will continue to accumulate. Dividends are payable when, as and if declared by our Board of Directors, out of funds legally available for their payment to the extent paid in cash, quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, beginning on December 1, 2020 and ending on, and including, September 1, 2023. Declared dividends on the Preferred Stock will be payable, at our election, in cash, shares of our common stock or a combination of cash and shares of our common stock. Subject to limited exceptions, no dividends may be declared or paid on shares of our common stock, unless all accumulated dividends have been paid or set aside for payment on all outstanding shares of our Preferred Stock for all past completed dividend periods. In the event of our voluntary or involuntary liquidation, dissolution or winding-up, no distribution of our assets may be made to holders of our common stock until we have paid to holders of our Preferred Stock a liquidation preference equal to $100 per share plus accumulated and unpaid dividends. We recorded $5 million and $16 million of accrued preferred stock dividends in our consolidated results of operations for the three and nine months ended September 30, 2022 and 2021, respectively. During the three and nine months ended September 30, 2022 and 2021, we paid cash dividends on our preferred stock of $5 million and $16 million, respectively. On October 18, 2022, the Board of Directors declared a dividend of $1.625 per share on Preferred Stock payable on December 1, 2022 to holders of record of the Preferred Stock on November 15, 2022. Unless earlier converted, each outstanding share of Preferred Stock will automatically convert, on the mandatory conversion date, which is expected to be September 1, 2023, into shares of our common stock at a rate between 11.9048 and 14.2857, subject to customary anti-dilution adjustments. The number of shares of our common stock issuable upon conversion will be determined based on the average volume-weighted average price per share of our common stock over the 20 consecutive trading day period beginning on, and including, the 21st scheduled trading day immediately before September 1, 2023. The number of shares issued at conversion based on the unadjusted conversion rates will be between 39 million and 47 million shares. Holders of the Preferred Stock have the right to convert all or any portion of their shares at any time until the close of business on the mandatory conversion date. Early conversions that are not in connection with a “Make-Whole Fundamental Change” (as defined in the Certificate of Designations governing the Preferred Stock) will be settled at the minimum conversion rate of 11.9048. If a Make-Whole Fundamental Change occurs, holders of the Preferred Stock will, in certain circumstances, be entitled to convert their shares at an increased conversion rate for a specified period of time and receive an amount to compensate them for certain unpaid accumulated dividends and any remaining future scheduled dividend payments. The Preferred Stock is not redeemable at our election before the mandatory conversion date. The holders of the Preferred Stock will not have any voting rights, with limited exceptions. In the event that Preferred Stock dividends have not been declared and paid in an aggregate amount corresponding to six or more dividend periods, whether or not consecutive, the holders of the Preferred Stock will have the right to elect two new directors until all accumulated and unpaid Preferred Stock dividends have been paid in full, at which time that right will terminate. Share Repurchase Program In February 2017, we announced the approval of a multi-year share repurchase program (the "Share Repurchase Program") to purchase up to $500 million of Sabre's common stock outstanding. Repurchases under the Share Repurchase Program may take place in the open market or privately negotiated transactions. During the nine months ended September 30, 2022, we did not repurchase any shares pursuant to the Share Repurchase Program. On March 16, 2020, we announced the suspension of share repurchases under the Share Repurchase Program in conjunction with certain cash management measures we undertook as a result of the market conditions caused by COVID-19. Approximately $287 million remains authorized for repurchases under the Share Repurchase Program as of September 30, 2022. Exchangeable Notes On April 17, 2020, we issued $345 million aggregate principal amount of Exchangeable Notes. Under the terms of indenture, the Exchangeable Notes are exchangeable into our common stock under specified circumstances. During the year ended December 31, 2021, a certain holder elected to exchange $10 million of the Exchangeable Notes for 1,269,497 shares of common stock. We elected to settle this conversion in shares of our common stock. As of September 30, 2022, we have $333 million aggregate principal amount of Exchangeable Notes outstanding. See Note 6. Debt for further details. We expect to settle the principal amount of the outstanding Exchangeable Notes in shares of our common stock.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

The following table reconciles the numerators and denominators used in the computations of basic and diluted earnings per share from continuing operations (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Loss from continuing operations	$	(134,154)	$	(234,713)	$	(272,828)	$	(739,958)
Less: Net income attributable to noncontrolling interests	776		714		1,933		1,657
Less: Preferred stock dividends	5,346		5,400		16,039		16,256



Net loss from continuing operations available to common stockholders, basic and diluted	$	(140,276)	$	(240,827)	$	(290,800)	$	(757,871)
Denominator:
Basic weighted-average common shares outstanding	328,228		322,720		326,170		320,055



Diluted weighted-average common shares outstanding	328,228		322,720		326,170		320,055
Earnings per share from continuing operations:
Basic	$	(0.43)	$	(0.75)	$	(0.89)	$	(2.37)
Diluted	$	(0.43)	$	(0.75)	$	(0.89)	$	(2.37)

Basic earnings per share is computed by dividing net income from continuing operations available to common stockholders by the weighted-average number of common shares outstanding during each period. Diluted earnings per share is computed by dividing net income from continuing operations available to common stockholders by the weighted-average number of common shares outstanding plus the effect of all dilutive common stock equivalents during each period. The diluted weighted-average common shares outstanding calculation excludes 1 million and 2 million of dilutive stock options and restricted stock awards for the three and nine months ended September 30, 2022, respectively, and 3 million and 4 million of dilutive stock options and restricted stock awards for the three and nine months ended September 30, 2021, respectively, as their effect would be anti-dilutive given the net loss incurred in those periods. The calculation of diluted weighted-average shares excludes the impact of 5 million and 3 million of anti-dilutive common stock equivalents for the three and nine months ended September 30, 2022, respectively, and 2 million and 1 million of anti-dilutive common stock equivalents for the three and nine months ended September 30, 2021, respectively.

We have used the if-converted method for calculating any potential dilutive effect of the Exchangeable Notes on our diluted net income per share. Under the if-converted method, the Exchangeable Notes are assumed to be converted at the beginning of the period and the resulting common shares are included in the denominator of the diluted earnings per share calculation for the entire period being presented and interest expense, net of tax, recorded in connection with the Exchangeable Notes is added back to the numerator, only in the periods in which such effect is dilutive. The approximately 42 million resulting common shares related to the Exchangeable Notes for the three and nine months ended September 30, 2022 and 2021, are not included in the dilutive weighted-average common shares outstanding calculation as their effect would be anti-dilutive given the net loss incurred in those periods.

Likewise, the potential dilutive effect of our Preferred Stock outstanding during the period was calculated using the if-converted method assuming the conversion as of the earliest period reported or at the date of issuance, if later. The resulting common shares are included in the denominator of the diluted earnings per share calculation for the entire period being presented and preferred stock dividends are added back to the numerator, only in the periods in which such effect is dilutive. The approximately 39 million and 40 million resulting common shares related to the Preferred Stock for the three and nine months ended September 30, 2022 and 2021, respectively, are not included in the dilutive weighted-average common shares outstanding calculation as their effect would be anti-dilutive given the net loss incurred in those periods.

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Legal Proceedings While certain legal proceedings and related indemnification obligations to which we are a party specify the amounts claimed, these claims may not represent reasonably possible losses. Given the inherent uncertainties of litigation, the ultimate outcome of these matters cannot be predicted at this time, nor can the amount of possible loss or range of loss, if any, be reasonably estimated, except in circumstances where an aggregate litigation accrual has been recorded for probable and reasonably estimable loss contingencies. A determination of the amount of accrual required, if any, for these contingencies is made after careful analysis of each matter. The required accrual may change in the future due to new information or developments in each matter or changes in approach such as a change in settlement strategy in dealing with these matters. Antitrust Litigation and Investigations US Airways Antitrust Litigation In April 2011, US Airways filed suit against us in federal court in the Southern District of New York, alleging violations of the Sherman Act Section 1 (anticompetitive agreements) and Section 2 (monopolization). The complaint was filed fewer than two months after we entered into a new distribution agreement with US Airways. In September 2011, the court dismissed all claims relating to Section 2. The claims that were not dismissed are claims brought under Section 1 of the Sherman Act, relating to our contracts with US Airways, which US Airways claims contain anticompetitive provisions, and an alleged conspiracy with the other GDSs, allegedly to maintain the industry structure and not to compete for content. We strongly deny all of the allegations made by US Airways. Sabre filed summary judgment motions in April 2014. In January 2015, the court issued an order granting Sabre's summary judgment motions in part, eliminating a majority of US Airways' alleged damages and rejecting its request for injunctive relief by which US Airways sought to bar Sabre from enforcing certain provisions in our contracts. In September 2015, the court also dismissed US Airways' claim for declaratory relief. In February 2017, US Airways sought reconsideration of the court's opinion dismissing the claim for declaratory relief, which the court denied in March 2017. US Airways estimated its damages in a range of $317 million to $482 million (before trebling), depending on certain assumptions; this quantification was substantially reduced following the court’s summary judgment ruling described above. The trial on the remaining claims commenced in October 2016. In December 2016, the jury issued a verdict in favor of US Airways with respect to its claim under Section 1 of the Sherman Act regarding Sabre's contract with US Airways and awarded it $5 million in single damages. The jury rejected US Airways' claim alleging a conspiracy with the other GDSs. Based on the jury’s verdict, in March 2017 the court entered final judgment in favor of US Airways in the amount of $15 million, which is three times the jury’s award of $5 million as required by the Sherman Act. As a result of the jury's verdict, US Airways was also entitled to receive reasonable attorneys’ fees and costs under the Sherman Act. As such, it filed a motion seeking approximately $125 million in attorneys’ fees and costs, the amount of which we strongly dispute. In January 2018, the court denied US Airways' motion seeking attorneys' fees and costs, without prejudice. In the fourth quarter of 2016, we accrued a loss of $32 million, which represented the court's final judgment of $15 million, plus our estimate of $17 million for US Airways' reasonable attorneys’ fees, expenses and costs. In April 2017, we filed an appeal with the United States Court of Appeals for the Second Circuit seeking a reversal of the judgment. US Airways also filed a counter-appeal challenging earlier court orders, including the above-referenced orders dismissing and/or issuing summary judgment as to portions of its claims and damages. In connection with this appeal, we posted an appellate bond equal to the aggregate amount of the $15 million judgment entered plus interest, which stayed the judgment pending the appeal. The Second Circuit heard oral arguments on this matter in December 2018. In September 2019, the Second Circuit issued its Order and Opinion. The Second Circuit vacated the judgment with respect to US Airways’ claim under Section 1, reversed the trial court’s dismissal of US Airways’ claims relating to Section 2, and remanded the case to district court for a new trial. In addition, the Second Circuit affirmed the trial court’s ruling limiting US Airways’ damages. The judgment in our favor on US Airways' conspiracy claim remains intact. The lawsuit was remanded to federal court in the Southern District of New York for further proceedings. The retrial began in April 2022. US Airways quantified its damages for the retrial in a range of $204 million to $299 million (before trebling), based on its payments of GDS booking fees to Sabre, alleged lost profits, and certain other assumptions. In May 2022, the jury rejected US Airways’ claim under Section 1 of the Sherman Act, finding that Sabre’s contractual terms were not anticompetitive, and found in favor of US Airways with respect to its monopolization claim for the period from 2007 to 2012 under Section 2 of the Sherman Act. The jury, however, only awarded US Airways $1.00 in single damages. Based on the jury’s verdict, in June 2022 the court entered final judgment in favor of US Airways in the amount of $3.00, which is three times the jury’s award of $1.00 as required by the Sherman Act. We have paid US Airways $3.05 to satisfy this portion of the judgment. Neither party has filed an appeal, and the period to file a timely appeal has passed. In addition, the court’s entry of judgment regarding the monopolization claim under Section 2 of the Sherman Act entitles US Airways to receive reasonable attorneys’ fees and costs under the Sherman Act. US Airways has not filed its motion seeking attorneys’ fees and costs to date. During the quarter ended September 30, 2022, we accrued an estimated loss in selling, general and administrative expenses for these attorneys' fees and costs, which did not have a significant effect on our results of operations for 2022. At this time, we do not have sufficient information to estimate a range of reasonably possible or probable attorneys' fees and costs in excess of the amount recorded. The amount of attorneys’ fees and costs to be awarded is subject to the final decision by the trial court, which may be appealed. The ultimate resolution of this matter may be greater or less than the amount recorded and, if greater, could adversely affect our results of operations. We have incurred and will incur significant fees, costs and expenses for as long as the lawsuit is ongoing. American Airlines Commercial Litigation On June 29, 2021, American Airlines filed suit against us in state district court in Tarrant County, Texas, alleging that our New Airline Storefront, a modern retailing experience designed to enhance comparison shopping of airline offers in the GDS, and a new value-based incentive model with agencies breach our contract with American Airlines. American Airlines is seeking a temporary and permanent injunction preventing the alleged breach of contract. We strongly deny the allegations and have filed our response denying American Airlines’ allegations and seeking a declaratory judgment that, among other things, New Airline Storefront does not violate the contract and that the contract does not prohibit Sabre’s value-based fee arrangements. In October 2021, the court heard arguments to determine whether to grant a temporary injunction preventing the alleged breach of contract, and on October 27, 2021, the court issued a ruling denying the temporary injunction. The court also denied American Airlines’ subsequent motion seeking reconsideration of the court’s denial of the temporary injunction. On October 10, 2022, the court dismissed the case with prejudice. Indian Income Tax Litigation We are currently a defendant in income tax litigation brought by the Indian Director of Income Tax (“DIT”) in the Supreme Court of India. The dispute arose in 1999 when the DIT asserted that we have a permanent establishment within the meaning of the Income Tax Treaty between the United States and the Republic of India and accordingly issued tax assessments for assessment years ending March 1998 and March 1999, and later issued further tax assessments for assessment years ending March 2000 through March 2006. The DIT has continued to issue further tax assessments on a similar basis for subsequent years; however, the tax assessments for assessment years ending March 2007 and later are no longer material. We appealed the tax assessments for assessment years ending March 1998 through March 2006 and the Indian Commissioner of Income Tax Appeals returned a mixed verdict. We filed further appeals with the Income Tax Appellate Tribunal (“ITAT”). The ITAT ruled in our favor on June 19, 2009 and July 10, 2009, stating that no income would be chargeable to tax for assessment years ending March 1998 and March 1999, and from March 2000 through March 2006. The DIT appealed those decisions to the Delhi High Court, which found in our favor on July 19, 2010. The DIT has appealed the decision to the Supreme Court of India and our case is currently pending before that court. We have appealed the tax assessments for the assessment years ended March 2013 to March 2018 with the ITAT and no trial date has been set for these subsequent years. In addition, Sabre Asia Pacific Pte Ltd ("SAPPL") is currently a defendant in similar income tax litigation brought by the DIT. The dispute arose when the DIT asserted that SAPPL has a permanent establishment within the meaning of the Income Tax Treaty between Singapore and India and accordingly issued tax assessments for assessment years ending March 2000 through March 2005. SAPPL appealed the tax assessments, and the Indian Commissioner of Income Tax (Appeals) returned a mixed verdict. SAPPL filed further appeals with the ITAT. The ITAT ruled in SAPPL’s favor, finding that no income would be chargeable to tax for assessment years ending March 2000 through March 2005. The DIT appealed those decisions to the Bombay High Court and our case is pending before that court. The DIT also assessed taxes on a similar basis plus some additional issues for assessment years ending March 2006 through March 2018 and appeals for assessment years ending March 2006 through March 2016 and March 2018 are pending before the ITAT or the High Court depending on the year. If the DIT were to fully prevail on every claim against us, including SAPPL and other group companies, we could be subject to taxes, interest and penalties of approximately $50 million as of September 30, 2022. We intend to continue to aggressively defend against each of the foregoing claims. Although we do not believe that the outcome of the proceedings will result in a material impact on our business or financial condition, litigation is by its nature uncertain. We do not believe this outcome is more likely than not and therefore have not made any provisions or recorded any liability for the potential resolution of any of these claims. Indian Service Tax Litigation SAPPL's Indian subsidiary is also subject to litigation by the India Director General (Service Tax) ("DGST"), which has assessed the subsidiary for multiple years related to its alleged failure to pay service tax on marketing fees and reimbursements of expenses. Indian courts have returned verdicts favorable to the Indian subsidiary. The DGST has appealed the verdict to the Indian Supreme Court. We do not believe that an adverse outcome is probable and therefore have not made any provisions or recorded any liability for the potential resolution of any of these claims. Litigation Relating to Routine Proceedings We are also engaged from time to time in other routine legal and tax proceedings incidental to our business. We do not believe that any of these routine proceedings will have a material impact on the business or our financial condition. Other SynXis Central Reservation System As previously disclosed, we became aware of an incident involving unauthorized access to payment information contained in a subset of hotel reservations processed through the Sabre Hospitality Solutions SynXis Central Reservation System (the “HS Central Reservation System”). Our investigation was supported by third party experts, including a leading cybersecurity firm. Our investigation determined that an unauthorized party: obtained access to account credentials that permitted access to a subset of hotel reservations processed through the HS Central Reservation System; used the account credentials to view a credit card summary page on the HS Central Reservation System and access payment card information (although we use encryption, this credential had the right to see unencrypted card data); and first obtained access to payment card information and some other reservation information on August 10, 2016. The last access to payment card information was on March 9, 2017. The unauthorized party was able to access information for certain hotel reservations, including cardholder name; payment card number; card expiration date; and, for a subset of reservations, card security code. The unauthorized party was also able, in some cases, to access certain information such as guest name(s), email, phone number, address, and other information if provided to the HS Central Reservation System. Information such as Social Security, passport, or driver’s license number was not accessed. The investigation did not uncover forensic evidence that the unauthorized party removed any information from the system, but it is a possibility. We took successful measures to ensure this unauthorized access to the HS Central Reservation System was stopped and is no longer possible. There is no indication that any of our systems beyond the HS Central Reservation System, such as Sabre’s Travel Solutions platforms, were affected or accessed by the unauthorized party. We notified law enforcement and the payment card brands and engaged a payment card industry data ("PCI") forensic investigator to investigate this incident at the payment card brands' request. We have notified customers and other companies that use or interact with, directly or indirectly, the HS Central Reservation System about the incident. In December 2020, we entered into settlement agreements with certain state Attorneys General to resolve their investigation into this incident. As part of these settlement agreements, we paid $2 million to the states represented by the Attorneys General in the first quarter of 2021 and agreed to implement certain security controls and processes. Separately, in November 2017, Sabre Hospitality Solutions observed a pattern of activity that, after further investigation, led it to believe that an unauthorized party improperly obtained access to certain hotel user credentials for purposes of accessing the HS Central Reservation System. We deactivated the compromised accounts and notified law enforcement of this activity. We also notified the payment card brands, and at their request, we engaged a PCI forensic investigator to investigate this incident. We did not find any evidence of a breach of the network security of the HS Central Reservation System, and we believe that the number of affected reservations represented only a fraction of 1% of the bookings in the HS Central Reservation System. Although the costs related to these incidents, including any associated penalties assessed by any other governmental authority or payment card brand or indemnification obligations to our customers, as well as any other impacts or remediation related to this incident, may be material, it is not possible at this time to determine whether we will incur, or to reasonably estimate the amount of, any liabilities in connection with them, with the exception of the payment related to the settlement agreements as described above. We maintain insurance that covers certain aspects of cyber risks, including the payment related to the settlement agreements, and we continue to work with our insurance carriers in these matters. Other Tax Matters We operate in numerous jurisdictions in which taxing authorities may challenge our position with respect to income and non-income based taxes. We routinely receive inquiries and may also from time to time receive challenges or assessments from these taxing authorities. With respect to non-income based taxes, we recognize liabilities when we believe it is probable that amounts will be owed to the taxing authorities and such amounts are estimable. For example, in most countries we pay and collect Value Added Tax (“VAT”) when procuring goods and services, or providing services, within the normal course of business. VAT receivables are established in jurisdictions where VAT paid exceeds VAT collected and are recoverable through the filing of refund claims. These receivables have inherent audit and collection risks unique to the specific jurisdictions that evaluate our refund claims. We intend to vigorously defend our positions against any claims that are not insignificant, including through litigation when necessary. As of September 30, 2022, we do not believe that an adverse outcome is probable with respect to current outstanding claims; as a result, we have not accrued any material amounts for exposure related to such contingencies or adverse decisions. Nevertheless, we may incur expenses in future periods related to such matters, including litigation costs and possible pre-payment of a portion of any assessed tax amount to defend our position, and if our positions are ultimately rejected, it could have a material impact to our results of operations.

Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

Our reportable segments are based upon our internal organizational structure; the manner in which our operations are managed; the criteria used by our President, who is our Chief Operating Decision Maker ("CODM"), to evaluate segment performance; the availability of separate financial information; and overall materiality considerations.

We operate our business and present our results through two business segments, (i) Travel Solutions, our global travel solutions for travel suppliers and travel buyers, including a broad portfolio of software technology products and solutions for airlines, and (ii) Hospitality Solutions, an extensive suite of software solutions for hoteliers.

Our CODM utilizes Adjusted Operating Income (Loss), which is not a recognized term under GAAP, as the measure of profitability to evaluate performance of our segments and allocate resources. Our use of Adjusted Operating Loss has limitations as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP.

We define Adjusted Operating Loss as operating loss adjusted for equity method loss, acquisition-related amortization, restructuring and other costs, acquisition-related costs, litigation costs, net, and stock-based compensation.

Our CODM does not review total assets by segment as operating evaluations and resource allocation decisions are not made on the basis of total assets by segment.

Certain costs associated with our technology organization are allocated to the segments based on the segments' usage of resources. Benefit expenses, facility and lease costs and associated depreciation expense are allocated to the segments based on headcount. Unallocated corporate costs include certain shared expenses such as accounting, finance, human resources, legal, corporate systems, amortization of acquired intangible assets, impairment and related charges, stock-based compensation, restructuring charges, legal reserves and other items not identifiable with one of our segments.

We account for significant intersegment transactions as if the transactions were with third parties, that is, at estimated current market prices. The majority of the intersegment revenues and cost of revenues are fees charged by Travel Solutions to Hospitality Solutions for hotel stays booked through our GDS.

Segment information for the three and nine months ended September 30, 2022 and 2021 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Revenue
Travel Solutions	$	603,647	$	390,353	$	1,736,794	$	1,052,613
Hospitality Solutions	67,497		55,179		189,704		148,145
Eliminations	(7,750)		(4,446)		(20,662)		(12,520)
Total revenue	$	663,394	$	441,086	$	1,905,836	$	1,188,238
Adjusted Operating Income (Loss)(a)
Travel Solutions	$	69,311	$	(39,078)	$	172,501	$	(212,393)
Hospitality Solutions	(11,312)		(8,868)		(38,469)		(30,976)
Corporate	(57,283)		(54,698)		(171,783)		(147,529)
Total	$	716	$	(102,644)	$	(37,751)	$	(390,898)
Depreciation and amortization
Travel Solutions	$	28,043	$	41,499	$	84,329	$	134,833
Hospitality Solutions	5,216		5,988		16,502		20,405
Total segments	33,259		47,487		100,831		155,238
Corporate	10,100		16,168		41,862		49,070
Total	$	43,359	$	63,655	$	142,693	$	204,308
Capital Expenditures
Travel Solutions	$	12,129	$	7,269	$	30,526	$	18,312
Hospitality Solutions	1,118		(242)		4,884		179
Total segments	13,247		7,027		35,410		18,491
Corporate	6,843		6,142		18,064		11,918
Total	$	20,090	$	13,169	$	53,474	$	30,409

______________________

(a)The following table sets forth the reconciliation of operating loss in our consolidated statements of operations to Adjusted Operating Income (Loss) (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating loss	$	(56,535)	$	(156,688)	$	(206,260)	$	(539,611)
Add back:
Equity method income (loss)	199		(114)		215		(395)
Impairment and related charges(1)	5,146		—		5,146		—
Acquisition-related amortization(2)	9,824		15,939		41,075		48,296
Restructuring and other costs(3)	9,944		269		14,279		(5,722)
Acquisition-related costs(4)	424		870		6,333		3,299
Litigation costs, net(5)	15,365		4,862		31,380		17,113
Stock-based compensation	16,349		32,218		70,081		86,122
Adjusted Operating Income (Loss)	$	716	$	(102,644)	$	(37,751)	$	(390,898)

______________________

(1)Impairment and related charges represents a $5 million impairment charge associated with the impact of regulatory changes in Russia on the future recoverability of certain assets.

(2)Acquisition-related amortization represents amortization of intangible assets from the take-private transaction in 2007 as well as intangibles associated with acquisitions since that date.

(3)Restructuring and other costs represents charges, and adjustments to those charges, associated with planning and implementing business restructuring activities, including costs associated with third party consultants advising on our business structure and strategy going forward which are integral to the restructuring plan and severance benefits related to employee terminations, which primarily occurred in the third quarter of 2022. During 2021, adjustments to charges were recorded in conjunction with the changes implemented in 2020 to support the new organizational structure and to respond to the impacts of the COVID-19 pandemic on our business, facilities and cost structure.

(4)Acquisition-related costs represent fees and expenses incurred associated with acquisition and disposition-related activities.

(5)Litigation costs, net represent charges associated with antitrust litigation and other foreign non-income tax contingency matters. See Note 12. Contingencies.

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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Revenue from Contract with Customer [Abstract]

General Information (Policies)	9 Months Ended
General Information (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation—The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2022. The accompanying interim financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K filed with the SEC on February 18, 2022. We consolidate all majority-owned subsidiaries and companies over which we exercise control through majority voting rights. No entities are consolidated due to control through operating agreements, financing agreements or as the primary beneficiary of a variable interest entity. The consolidated financial statements include our accounts after elimination of all significant intercompany balances and transactions. All dollar amounts in the financial statements and the tables in the notes, except per share amounts, are stated in thousands of U.S. dollars unless otherwise indicated. All amounts in the notes reference results from continuing operations unless otherwise indicated.
Use of Estimates	Use of Estimates—The preparation of these interim financial statements in conformity with GAAP requires that certain amounts be recorded based on estimates and assumptions made by management. Actual results could differ from these estimates and assumptions. Our accounting policies that utilize significant estimates and assumptions include: (i) estimation for revenue recognition and multiple performance obligation arrangements, (ii) determination of the fair value of assets and liabilities acquired in a business combination, (iii) the evaluation of the recoverability of the carrying value of long-lived assets and goodwill, (iv) assumptions utilized to test recoverability of capitalized implementation costs and customer and subscriber advances, (v) judgments in capitalization of software developed for internal use, (vi) the evaluation of uncertainties surrounding the calculation of our tax assets and liabilities, (vii) estimation of the air booking cancellation reserve, and (viii) the evaluation of the allowance for credit losses. Our use of estimates and the related accounting policies are discussed in the consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K filed with the SEC on February 18, 2022. Given the uncertainties surrounding the duration and effects of COVID-19, including any variants, we cannot provide assurance that the assumptions used in our estimates will be accurate and the impacts could be material on our cancellation reserves, credit loss provisions and results of operations.
Adoption of New Accounting Standards	Adoption of New Accounting Standards In March 2022, the Financial Accounting Standards Board ("FASB") issued updated guidance on derivatives and hedging which allows entities to apply fair value hedging to closed portfolios of prepayable financial assets without having to consider prepayment risk or credit risk when measuring the assets. The amendments allow multiple hedged layers to be designated for a single closed portfolio for financial assets or one or more beneficial interests secured by a portfolio of financial instruments. As a result, an entity can achieve hedge accounting for hedges of a greater proportion of the interest rate risk inherent in the assets included in the closed portfolio, further aligning hedge accounting with risk management strategies. The standard is effective for public entities for fiscal years beginning after December 15, 2022, with early adoption permitted. We adopted this standard in the first quarter of 2022 and there was no impact to our consolidated financial statements for the nine months ended September 30, 2022 as a result of the adoption.
Derivatives	Hedging Objectives—We are exposed to certain risks relating to ongoing business operations. The primary risks managed by using derivative instruments are foreign currency exchange rate risk and interest rate risk. Forward contracts on various foreign currencies are entered into to manage the foreign currency exchange rate risk on operational expenditures' exposure denominated in foreign currencies. Interest rate swaps are entered into to manage interest rate risk associated with our floating-rate borrowings. In accordance with authoritative guidance on accounting for derivatives and hedging, we designate foreign currency forward contracts as cash flow hedges on operational exposure and interest rate swaps as cash flow hedges of floating-rate borrowings. Cash Flow Hedging Strategy—To protect against the reduction in value of forecasted foreign currency cash flows, we hedge portions of our revenues and expenses denominated in foreign currencies with forward contracts. For example, when the dollar strengthens significantly against the foreign currencies, the decline in present value of future foreign currency expense is offset by losses in the fair value of the forward contracts designated as hedges. Conversely, when the dollar weakens, the increase in the present value of future foreign currency expense is offset by gains in the fair value of the forward contracts. Due to the uncertainty driven by the COVID-19 pandemic on our foreign currency exposures, we have paused entering into new cash flow hedges of forecasted foreign currency cash flows until we have more clarity regarding the recovery trajectory and its impacts on net exposures. We enter into interest rate swap agreements to manage interest rate risk exposure. The interest rate swap agreements modify our exposure to interest rate risk by converting floating-rate debt to a fixed rate basis, thus reducing the impact of interest rate changes on future interest expense and net earnings. These agreements involve the receipt of floating rate amounts in exchange for fixed rate interest payments over the life of the agreements without an exchange of the underlying principal amount. For derivative instruments that are designated and qualify as cash flow hedges, the effective portions and ineffective portions of the gain or loss on the derivative instruments, and the hedge components excluded from the assessment of effectiveness, are reported as a component of other comprehensive income (loss) (“OCI”) and reclassified into earnings in the same line item associated with the forecasted transaction and in the same period or periods during which the hedged transaction affects earnings. Cash flow hedges are classified in the same category in the consolidated statements of cash flows as the items being hedged and gains and losses on the derivative financial instruments are reported in cash provided by (used in) operating activities within the consolidated statements of cash flows. Derivatives not designated as hedging instruments are carried at fair value with changes in fair value reflected in Other, net in the consolidated statements of operations. Forward Contracts—In order to hedge our operational expenditures' exposure to foreign currency movements, we were a party to certain foreign currency forward contracts that extended until December 31, 2020. We designated these instruments as cash flow hedges.
Fair Value Measurement	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date in the principal or most advantageous market for that asset or liability. Guidance on fair value measurements and disclosures establishes a valuation hierarchy for disclosure of inputs used in measuring fair value defined as follows: Level 1—Inputs are unadjusted quoted prices that are available in active markets for identical assets or liabilities. Level 2—Inputs include quoted prices for similar assets and liabilities in active markets and quoted prices in non-active markets, inputs other than quoted prices that are observable, and inputs that are not directly observable, but are corroborated by observable market data. Level 3—Inputs that are unobservable and are supported by little or no market activity and reflect the use of significant management judgment. The classification of a financial asset or liability within the hierarchy is determined based on the least reliable level of input that is significant to the fair value measurement. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. We also consider the counterparty and our own non-performance risk in our assessment of fair value.

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2022

Contract with Customer, Asset and Liability

The following table presents our assets and liabilities with customers as of September 30, 2022 and December 31, 2021 (in thousands).


Account	Consolidated Balance Sheet Location	September 30, 2022		December 31, 2021
Contract assets and customer advances and discounts(1)	Prepaid expenses and other current assets / other assets, net	$	64,657	$	79,682
Trade and unbilled receivables, net	Accounts receivable, net	399,677		258,800
Long-term trade unbilled receivables, net	Other assets, net	13,520		23,709
Contract liabilities	Deferred revenues / other noncurrent liabilities	126,756		135,273

______________________

(1) Includes contract assets of $12 million and $11 million for September 30, 2022 and December 31, 2021, respectively.

Disaggregation of Revenue

The following table presents our revenues disaggregated by business (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Distribution	$	430,826	$	245,421	$	1,205,252	$	615,448
IT Solutions	172,821		144,932		531,542		437,165
Total Travel Solutions	603,647		390,353		1,736,794		1,052,613
SynXis Software and Services	60,520		48,390		168,879		131,650
Other	6,977		6,789		20,825		16,495
Total Hospitality Solutions	67,497		55,179		189,704		148,145
Eliminations	(7,750)		(4,446)		(20,662)		(12,520)
Total Sabre Revenue	$	663,394	$	441,086	$	1,905,836	$	1,188,238

Acquisitions and Dispositions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation

A summary of the acquisition price and estimated fair values of assets acquired and liabilities assumed as of the date of acquisition is as follows (in thousands):




Cash and cash equivalents	$	7,203
Other current and non-current assets	5,950
Goodwill	51,992
Intangible assets	22,644
Current and non-current liabilities	(4,053)
Total	83,736
Fair value of loan converted to equity in Conferma	(11,281)
Total acquisition price	$	72,455

Credit Losses (Tables)

9 Months Ended

Sep. 30, 2022

Credit Loss [Abstract]

Allowance for Credit Loss

Our allowance for credit losses for the nine months ended September 30, 2022 for our portfolio segment is summarized as follows (in thousands):


	Nine Months Ended September 30, 2022
Balance at December 31, 2021	$	59,646

Provision for expected credit losses	550
Write-offs	(9,991)
Other	(1,147)

Balance at September 30, 2022	$	49,058

Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Schedule of Debt

The following table sets forth the face values of our outstanding debt as of September 30, 2022 and December 31, 2021 (in thousands):


	Rate	Maturity	September 30, 2022		December 31, 2021
Senior secured credit facilities:

Term Loan B	L + 2.00%	February 2024	$	536,457	$	1,805,806

Term Loan B-1	L + 3.50%	December 2027	398,950		401,980
Term Loan B-2	L + 3.50%	December 2027	635,950		640,780



2022 Term Loan B-1	S(1) + 4.25%	June 2028	621,875		—
2022 Term Loan B-2	S(1) + 5.00%	June 2028	675,000		—
9.25% senior secured notes due 2025	9.250%	April 2025	775,000		775,000
7.375% senior secured notes due 2025	7.375%	September 2025	850,000		850,000
4.00% senior exchangeable notes due 2025	4.000%	April 2025	333,220		333,220

Face value of total debt outstanding			4,826,452		4,806,786
Less current portion of debt outstanding			(23,480)		(29,290)
Face value of long-term debt outstanding			$	4,802,972	$	4,777,496

______________________

(1) Represents the Secured Overnight Financing Rate ("SOFR")

Convertible Debt

The following table sets forth the carrying value of the Exchangeable Notes as of September 30, 2022 and December 31, 2021, (in thousands):


	September 30, 2022		December 31, 2021
Principal	$	333,220	$	333,220

Less: Unamortized debt issuance costs	6,221		7,917
Net Carrying Value	$	326,999	$	325,303

Interest Income and Interest Expense Disclosure

The following table sets forth interest expense recognized related to the Exchangeable Notes for the three and nine months ended September 30, 2022 and 2021 (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Contractual interest expense	$	3,332	$	3,344	$	9,997	$	10,244
Amortization of debt issuance costs	$	572	$	547	$	1,696	$	1,657

Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding and Matured Interest Rate Swaps

Interest rate swaps outstanding during the nine months ended September 30, 2022 and 2021 are as follows:

Notional Amount

Interest Rate
Received

Interest Rate Paid

Effective Date

Maturity Date

Designated as Hedging Instrument

$200 million

1 month SOFR(1)

1.71%(3)

April 30, 2022

December 31, 2023

$150 million

1 month SOFR(1)

2.79%(4)

June 30, 2022

December 31, 2023

$600 million

1 month LIBOR(2)

2.81%

December 31, 2020

December 31, 2021

______________________

(1) Subject to a 0.5% floor.

(2) Subject to a 0% floor.

(3) Fixed fee of 1.71% effective April 30, 2022, and expiring December 30, 2022, and 3.09% effective December 31, 2022, and expiring December 31, 2023.

(4) Fixed fee of 2.79% effective June 30, 2022, and expiring December 30, 2022, and 3.98% effective December 31, 2022, and expiring December 31, 2023.

Schedule of Estimated Fair Values of Derivatives Designated as Hedging Instruments

The estimated fair values of our derivatives designated as hedging instruments as of September 30, 2022 are as follows (in thousands):

Derivative Assets (Liabilities)

Fair Value as of

Derivatives Designated as Hedging Instruments

Consolidated Balance Sheet Location

September 30, 2022

Interest rate swaps

Prepaid expenses and other current assets

3,850

Interest rate swaps

Other assets, net

757

Interest rate swaps

Other noncurrent liabilities

(256)

Total

4,351

Schedule of Derivative Instruments, Gain (Loss)

The effects of derivative instruments, net of taxes, on OCI for the three and nine months ended September 30, 2022 and 2021 are as follows (in thousands):


	Amount of Gains Recognized in OCI on Derivative, Effective Portion
	Three Months Ended September 30,				Nine Months Ended September 30,

Derivatives in Cash Flow Hedging Relationships	2022		2021		2022		2021

Interest rate swaps	4,422		2,698		4,405		2,595
Total	$	4,422	$	2,698	$	4,405	$	2,595


		Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion
Derivatives in Cash Flow Hedging Relationships	Income Statement Location	Three Months Ended September 30,				Nine Months Ended September 30,

		2022		2021		2022		2021

Interest rate swaps	Interest expense, net	(41)		3,237		203		9,553
Total		$	(41)	$	3,237	$	203	$	9,553

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

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

The following tables present our assets that are required to be measured at fair value on a recurring basis as of September 30, 2022 (in thousands):


			Fair Value at Reporting Date Using
	September 30, 2022		Level 1		Level 2		Level 3
Derivatives (1)

Interest rate swap contracts	$	4,351	$	—	$	4,351	$	—
GBT Common Stock	45,280		45,280		—
Total	$	49,631	$	45,280	$	4,351	$	—

______________________

(1) See Note 7. Derivatives for further detail.

Schedule of Fair Value and Carrying Value of Debt


	Fair Value at				Carrying Value at (1)
Financial Instrument	September 30, 2022		December 31, 2021		September 30, 2022		December 31, 2021

Term Loan B	$	530,087	$	1,767,432	$	535,971	$	1,803,318
Term Loan B-1	369,527		397,458		398,120		401,036
Term Loan B-2	574,740		633,171		631,234		635,416
2022 Term Loan B-1	581,064		—		615,450		—
2022 Term Loan B-2	638,719		—		641,393		—







9.25% senior secured notes due 2025	738,474		877,916		775,000		775,000
7.375% senior secured notes due 2025	763,024		886,423		850,000		850,000
4.00% senior exchangeable notes due 2025	316,367		454,459		333,220		333,220

______________________

(1)Excludes net unamortized debt issuance costs.

Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss, Net of Related Deferred Income Taxes

As of September 30, 2022 and December 31, 2021, the components of accumulated other comprehensive loss, net of related deferred income taxes, are as follows (in thousands):


	September 30, 2022		December 31, 2021
Defined benefit pension and other postretirement benefit plans	$	(77,924)	$	(84,773)
Unrealized foreign currency translation (loss) gain	(2,018)		6,282
Unrealized gain on interest rate swaps	4,608		—
Share of other comprehensive loss of equity method investments	(1,906)		(1,796)

Total accumulated other comprehensive loss, net of tax	$	(77,240)	$	(80,287)

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Reconciliation of Earnings per Share

The following table reconciles the numerators and denominators used in the computations of basic and diluted earnings per share from continuing operations (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Loss from continuing operations	$	(134,154)	$	(234,713)	$	(272,828)	$	(739,958)
Less: Net income attributable to noncontrolling interests	776		714		1,933		1,657
Less: Preferred stock dividends	5,346		5,400		16,039		16,256



Net loss from continuing operations available to common stockholders, basic and diluted	$	(140,276)	$	(240,827)	$	(290,800)	$	(757,871)
Denominator:
Basic weighted-average common shares outstanding	328,228		322,720		326,170		320,055



Diluted weighted-average common shares outstanding	328,228		322,720		326,170		320,055
Earnings per share from continuing operations:
Basic	$	(0.43)	$	(0.75)	$	(0.89)	$	(2.37)
Diluted	$	(0.43)	$	(0.75)	$	(0.89)	$	(2.37)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Summary of Segment Information

Segment information for the three and nine months ended September 30, 2022 and 2021 is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Revenue
Travel Solutions	$	603,647	$	390,353	$	1,736,794	$	1,052,613
Hospitality Solutions	67,497		55,179		189,704		148,145
Eliminations	(7,750)		(4,446)		(20,662)		(12,520)
Total revenue	$	663,394	$	441,086	$	1,905,836	$	1,188,238
Adjusted Operating Income (Loss)(a)
Travel Solutions	$	69,311	$	(39,078)	$	172,501	$	(212,393)
Hospitality Solutions	(11,312)		(8,868)		(38,469)		(30,976)
Corporate	(57,283)		(54,698)		(171,783)		(147,529)
Total	$	716	$	(102,644)	$	(37,751)	$	(390,898)
Depreciation and amortization
Travel Solutions	$	28,043	$	41,499	$	84,329	$	134,833
Hospitality Solutions	5,216		5,988		16,502		20,405
Total segments	33,259		47,487		100,831		155,238
Corporate	10,100		16,168		41,862		49,070
Total	$	43,359	$	63,655	$	142,693	$	204,308
Capital Expenditures
Travel Solutions	$	12,129	$	7,269	$	30,526	$	18,312
Hospitality Solutions	1,118		(242)		4,884		179
Total segments	13,247		7,027		35,410		18,491
Corporate	6,843		6,142		18,064		11,918
Total	$	20,090	$	13,169	$	53,474	$	30,409

______________________

(a)The following table sets forth the reconciliation of operating loss in our consolidated statements of operations to Adjusted Operating Income (Loss) (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Operating loss	$	(56,535)	$	(156,688)	$	(206,260)	$	(539,611)
Add back:
Equity method income (loss)	199		(114)		215		(395)
Impairment and related charges(1)	5,146		—		5,146		—
Acquisition-related amortization(2)	9,824		15,939		41,075		48,296
Restructuring and other costs(3)	9,944		269		14,279		(5,722)
Acquisition-related costs(4)	424		870		6,333		3,299
Litigation costs, net(5)	15,365		4,862		31,380		17,113
Stock-based compensation	16,349		32,218		70,081		86,122
Adjusted Operating Income (Loss)	$	716	$	(102,644)	$	(37,751)	$	(390,898)

______________________

(1)Impairment and related charges represents a $5 million impairment charge associated with the impact of regulatory changes in Russia on the future recoverability of certain assets.

(2)Acquisition-related amortization represents amortization of intangible assets from the take-private transaction in 2007 as well as intangibles associated with acquisitions since that date.

(4)Acquisition-related costs represent fees and expenses incurred associated with acquisition and disposition-related activities.

(5)Litigation costs, net represent charges associated with antitrust litigation and other foreign non-income tax contingency matters. See Note 12. Contingencies.

General Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cancellation reserve	$ 49,058	$ 59,646
Air Bookings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cancellation reserve	$ 9,000	$ 18,000

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Revenue from External Customer [Line Items]
Contract liabilities	$ 126,756	$ 135,273
Contract assets	12,000	11,000
Prepaid expenses and other current assets / other assets, net
Revenue from External Customer [Line Items]
Contract assets, current	64,657	79,682
Accounts receivable, net
Revenue from External Customer [Line Items]
Contract assets, current	399,677	258,800
Other assets, net
Revenue from External Customer [Line Items]
Contract assets, noncurrent	$ 13,520	$ 23,709

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized			$ 28,000
Impairment on unbilled receivables	$ 5,146	$ 0	5,146	$ 0
Contract with customer, performance obligation satisfied in previous period			$ 27,000

Revenue from Contracts with Customers - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	$ 663,394	$ 441,086	$ 1,905,836	$ 1,188,238
Operating Segments \| Travel Solutions
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	603,647	390,353	1,736,794	1,052,613
Operating Segments \| Travel Solutions \| Distribution
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	430,826	245,421	1,205,252	615,448
Operating Segments \| Travel Solutions \| IT Solutions
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	172,821	144,932	531,542	437,165
Operating Segments \| Hospitality Solutions
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	67,497	55,179	189,704	148,145
Operating Segments \| Hospitality Solutions \| SynXis Software and Services
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	60,520	48,390	168,879	131,650
Operating Segments \| Hospitality Solutions \| Other
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	6,977	6,789	20,825	16,495
Eliminations
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	$ (7,750)	$ (4,446)	$ (20,662)	$ (12,520)

Acquisitions and Dispositions - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Feb. 28, 2022
Business Acquisition [Line Items]
Gain upon conversion of loan			$ 3,568	$ 0
AirCentre Airline Operations \| Disposal Group, Not Discontinued Operations \| Travel Solutions
Business Acquisition [Line Items]
Disposal group, including discontinued operation, consideration					$ 392,000
Goodwill disposed of					146,000
Working capital disposed of					17,000
Other assets, net disposed of					25,000
Pre-tax gain on sale			180,000
Contingencies in connection with sale					$ 12,000
After-tax gain on sale			$ 112,000
Conferma
Business Acquisition [Line Items]
Cash considerations paid	$ 65,000
Conversion of preexisting loan into share capital	11,000
Gain upon conversion of loan	$ 4,000
Tax benefit related to acquisition		$ 6,000

Acquisitions and Dispositions - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Aug. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 2,528,430		$ 2,470,206
Conferma
Business Acquisition [Line Items]
Cash and cash equivalents		$ 7,203
Other current and non-current assets		5,950
Goodwill		51,992
Intangible assets		22,644
Current and non-current liabilities		(4,053)
Total		83,736
Fair value of loan converted to equity in Conferma		(11,281)
Total acquisition price		$ 72,455

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Benefit for income taxes	$ (6,989)	$ (6,613)	$ (2,195)	$ (4,513)
Effective tax rate			1.00%	1.00%
Valuation allowance	450,000		$ 450,000
Unrecognized tax benefits	$ 77,000		$ 77,000		$ 85,000

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

+ References + Details

Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended
Credit Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 59,646
Provision for expected credit losses	550	$ (3,728)
Write-offs	(9,991)
Other	(1,147)
Ending balance	$ 49,058

Debt - Narrative (Details)							3 Months Ended		9 Months Ended		12 Months Ended
Debt - Narrative (Details)	Aug. 15, 2022 USD ($)	Mar. 09, 2022 USD ($)	Jul. 12, 2021 USD ($)	Dec. 17, 2020 USD ($)	Aug. 27, 2020	Apr. 17, 2020 USD ($) day $ / shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Jul. 02, 2021 USD ($)	Nov. 30, 2020 USD ($)	Aug. 23, 2017 USD ($)
Debt Instrument [Line Items]
Outstanding debt							$ 4,742,000,000		$ 4,742,000,000		$ 4,753,000,000
Debt issuance costs							38,000,000		38,000,000		45,000,000
Unamortized discount							46,000,000		46,000,000		9,000,000
Proceeds of borrowings from lenders									1,273,937,000	$ 1,070,380,000
Loss on extinguishment of debt							0	$ 13,070,000	3,533,000	$ 13,070,000	13,000,000
Payments of debt restructuring costs											2,000,000
Senior Secured Credit Facilities
Debt Instrument [Line Items]
Monthly basis of liquidity amount required												$ 300,000,000		$ 450,000,000
Debt instrument, covenant, minimum liquidity			$ 300,000,000
Debt instrument, unamortized discount			3,000,000
Debt instrument, unamortized premium			6,000,000
Debt instrument, fee amount			6,000,000
Term Loan B \| Term Loan
Debt Instrument [Line Items]
Outstanding debt	$ 647,000,000	$ 623,000,000
Face value of outstanding debt							536,457,000		536,457,000		1,805,806,000
Term Loan A \| Term Loan
Debt Instrument [Line Items]
Extinguishment of debt				$ 134,000,000
Other Term B Loans \| Term Loan
Debt Instrument [Line Items]
Proceeds of borrowings from lenders				637,000,000
Proceeds from debt, net of issuance costs				$ 623,000,000
Extinguishment of debt			634,000,000
Other Term B Loans \| Term Loan \| Eurocurrency
Debt Instrument [Line Items]
Marginal interest rate				4.00%
Floor interest rate				0.75%
Other Term B Loans \| Term Loan \| Base Rate
Debt Instrument [Line Items]
Marginal interest rate				3.00%
Floor interest rate				1.75%
Term Loan A And 5.25% Senior Secured Notes \| Senior Secured Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt												11,000,000
Redemption premium												6,000,000
Write-off of deferred debt issuance costs												$ 5,000,000
Term Loan B-1 \| Term Loan
Debt Instrument [Line Items]
Face value of outstanding debt							398,950,000		398,950,000		401,980,000
Term Loan B-2 \| Term Loan
Debt Instrument [Line Items]
Face value of outstanding debt							635,950,000		635,950,000		640,780,000
2022 Term Loan B-2 \| Term Loan
Debt Instrument [Line Items]
Proceeds of borrowings from lenders	675,000,000
Loss on extinguishment of debt									0
Debt instrument, unamortized discount	25,000,000
Debt instrument, fee amount	3,000,000
Payments of debt restructuring costs									$ 5,000,000
Debt instrument, prepayment or repayment premium									1.01
Face value of outstanding debt							675,000,000		$ 675,000,000		0
2022 Term Loan B-2, Including Additional Discounts And Fees \| Term Loan
Debt Instrument [Line Items]
Debt instrument, unamortized discount	9,000,000
Debt instrument, fee amount	$ 2,000,000
2022 Term Loan B-1 \| Term Loan
Debt Instrument [Line Items]
Proceeds of borrowings from lenders		625,000,000
Loss on extinguishment of debt									4,000,000
Debt instrument, unamortized discount		1,000,000
Debt instrument, fee amount		1,000,000
Payments of debt restructuring costs									$ 1,000,000
Debt instrument, prepayment or repayment premium									1.01
Face value of outstanding debt							$ 621,875,000		$ 621,875,000		0
2022 Term Loan B-1, Including Additional Discounts And Fees \| Term Loan
Debt Instrument [Line Items]
Debt instrument, unamortized discount		5,000,000
Debt instrument, fee amount		$ 3,000,000
5.25% senior secured notes due 2023 \| Senior Secured Notes
Debt Instrument [Line Items]
Extinguishment of debt				$ 500,000,000
Debt instrument interest rate percentage				5.25%
4.00% senior exchangeable notes due 2025 \| Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument interest rate percentage							4.00%		4.00%
Face value of outstanding debt							$ 333,220,000		$ 333,220,000		333,220,000
Conversion rate						0.1269499
4.00% senior exchangeable notes due 2025 \| Convertible Debt
Debt Instrument [Line Items]
Outstanding debt							326,999,000		326,999,000		325,303,000
Proceeds from debt, net of issuance costs						$ 336,000,000
Debt instrument interest rate percentage						4.00%
Debt instrument, unamortized discount							6,221,000		6,221,000		7,917,000
Face value of debt instruments at the time of issuance						$ 345,000,000
Debt conversion, converted instrument, amount											$ 10,000,000
Debt conversion, converted instrument, shares issued (in shares) \| shares											1,269,497
Debt instrument, repurchased face amount											$ 2,000,000
Debt instrument, repurchase amount											3,000,000
Face value of outstanding debt							333,220,000		333,220,000		333,220,000
Percent of the product of the last reported sale price per share						130.00%
Convertible trading days \| day						20
Number of consecutive trading days \| day						30
Redemption price, percentage of principal amount						100.00%
Conversion rate (in dollars per share) \| $ / shares						$ 7.88
4.00% senior exchangeable notes due 2025 \| Convertible Debt \| Measurement Period
Debt Instrument [Line Items]
Percent of the product of the last reported sale price per share						98.00%
Number of consecutive trading days \| day						5
Number of consecutive business days \| day						5
Letter of Credit
Debt Instrument [Line Items]
Credit facility amount													$ 20,000,000
Letter of Credit \| Line of Credit
Debt Instrument [Line Items]
Outstanding letters of credit							11,000,000		11,000,000		10,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Cash collateral for borrowed securities							$ 20,000,000		$ 20,000,000		$ 20,000,000
Increase in interest rate					0.25%
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Decrease in variable basis spread, quarterly					0.25%
Decrease in variable basis spread, maximum					0.75%
Senior secured first-lien net leverage ratio, threshold one					3.75
Senior secured first-lien net leverage ratio, threshold two					3.00
Senior secured first-lien net leverage ratio, threshold three					2.25
Extinguishment of debt			400,000,000
Revolving Credit Facility \| Line of Credit \| Eurocurrency \| Minimum
Debt Instrument [Line Items]
Marginal interest rate					2.50%
Revolving Credit Facility \| Line of Credit \| Eurocurrency \| Maximum
Debt Instrument [Line Items]
Marginal interest rate					1.75%
Revolving Credit Facility \| Line of Credit \| Base Rate \| Minimum
Debt Instrument [Line Items]
Marginal interest rate					1.50%
Revolving Credit Facility \| Line of Credit \| Base Rate \| Maximum
Debt Instrument [Line Items]
Marginal interest rate					0.75%
Revolving Credit Facility \| Revolver, $400 million \| Line of Credit
Debt Instrument [Line Items]
Credit facility amount															$ 400,000,000
Revolving Credit Facility \| Term Loan B \| Line of Credit
Debt Instrument [Line Items]
Credit facility amount															1,891,000,000
Revolving Credit Facility \| Term Loan A \| Line of Credit
Debt Instrument [Line Items]
Credit facility amount															$ 570,000,000
Revolving Credit Facility \| Term Loan B-1 \| Line of Credit
Debt Instrument [Line Items]
Credit facility amount			404,000,000
Revolving Credit Facility \| Term Loan B-2 \| Line of Credit
Debt Instrument [Line Items]
Credit facility amount			$ 644,000,000

Debt - Face Value of Outstanding Debt (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Face value of total debt outstanding	$ 4,826,452	$ 4,806,786
Less current portion of debt outstanding	(23,480)	(29,290)
Face value of long-term debt outstanding	4,802,972	4,777,496
Term Loan \| Term Loan B
Debt Instrument [Line Items]
Face value of outstanding debt	$ 536,457	1,805,806
Term Loan \| Term Loan B \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Term Loan \| Term Loan B-1
Debt Instrument [Line Items]
Face value of outstanding debt	$ 398,950	401,980
Term Loan \| Term Loan B-1 \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Term Loan \| Term Loan B-2
Debt Instrument [Line Items]
Face value of outstanding debt	$ 635,950	640,780
Term Loan \| Term Loan B-2 \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Term Loan \| 2022 Term Loan B-1
Debt Instrument [Line Items]
Face value of outstanding debt	$ 621,875	0
Term Loan \| 2022 Term Loan B-1 \| SOFR
Debt Instrument [Line Items]
Basis spread on rate	4.25%
Term Loan \| 2022 Term Loan B-2
Debt Instrument [Line Items]
Face value of outstanding debt	$ 675,000	0
Term Loan \| 2022 Term Loan B-2 \| SOFR
Debt Instrument [Line Items]
Basis spread on rate	5.00%
Senior secured notes \| 9.25% senior secured notes due 2025
Debt Instrument [Line Items]
Face value of outstanding debt	$ 775,000	775,000
Debt instrument interest rate percentage	9.25%
Senior secured notes \| 7.375% senior secured notes due 2025
Debt Instrument [Line Items]
Face value of outstanding debt	$ 850,000	850,000
Debt instrument interest rate percentage	7.375%
Senior secured notes \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Face value of outstanding debt	$ 333,220	$ 333,220
Debt instrument interest rate percentage	4.00%

Debt - Carrying Value of Exchangeable Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Net Carrying Value	$ 4,742,000	$ 4,753,000
Convertible Debt \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Principal	333,220	333,220
Less: Unamortized debt issuance costs	6,221	7,917
Net Carrying Value	$ 326,999	$ 325,303

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Debt - Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Amortization of debt issuance costs			$ 11,236	$ 8,815
Convertible Debt \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Contractual interest expense	$ 3,332	$ 3,344	9,997	10,244
Amortization of debt issuance costs	$ 572	$ 547	$ 1,696	$ 1,657

Derivatives - Narrative (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Apr. 30, 2022	Dec. 31, 2021	Dec. 31, 2018
Designated as Hedging Instrument
Derivative [Line Items]
Derivative assets (liabilities), net	$ 4,351,000			$ 0
Interest rate swaps \| Cash Flow Hedging
Derivative [Line Items]
Notional Amount		$ 150,000,000	$ 200,000,000		$ 600,000,000

Derivatives - Schedule of Outstanding and Matured Interest Rate Swaps (Details) - USD ($) $ in Millions	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Apr. 30, 2022
1.71% Interest Rate Swap Outstanding \| SOFR
Derivative [Line Items]
Floor rate		0.50%
2.79% Interest Rate Swap Outstanding \| SOFR
Derivative [Line Items]
Floor rate		0.50%
2.81% Interest Rate Swap Outstanding \| LIBOR
Derivative [Line Items]
Floor rate		0.00%
Designated as Hedging Instrument \| 1.71% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount		$ 200
Interest Rate Paid		1.71%		1.71%
Designated as Hedging Instrument \| 1.71% Interest Rate Swap Outstanding \| Forecast
Derivative [Line Items]
Interest Rate Paid	3.09%
Designated as Hedging Instrument \| 2.79% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount		$ 150
Interest Rate Paid		2.79%	2.79%
Designated as Hedging Instrument \| 2.79% Interest Rate Swap Outstanding \| Forecast
Derivative [Line Items]
Interest Rate Paid	3.98%
Designated as Hedging Instrument \| 2.81% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount		$ 600
Interest Rate Paid		2.81%

Derivatives - Schedule of Estimated Fair Values of Derivatives Designated as Hedging Instruments (Details) - Designated as Hedging Instrument - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Total	$ 4,351,000	$ 0
Interest rate swaps
Derivative [Line Items]
Derivative liability	(256,000)
Interest rate swaps \| Prepaid expenses and other current assets
Derivative [Line Items]
Derivative asset	3,850,000
Interest rate swaps \| Other assets, net
Derivative [Line Items]
Derivative asset	$ 757,000

Derivatives - Schedule of Effects of Derivative Instruments Net of Taxes on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Amount of Gains Recognized in OCI on Derivative, Effective Portion	$ 4,422	$ 2,698	$ 4,405	$ 2,595
Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion	(41)	3,237	203	9,553
Designated as Hedging Instrument \| Cash Flow Hedging
Derivative [Line Items]
Amount of Gains Recognized in OCI on Derivative, Effective Portion	4,422	2,698	4,405	2,595
Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion	(41)	3,237	203	9,553
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest rate swaps
Derivative [Line Items]
Amount of Gains Recognized in OCI on Derivative, Effective Portion	4,422	2,698	4,405	2,595
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest rate swaps \| Interest expense, net
Derivative [Line Items]
Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion	$ (41)	$ 3,237	$ 203	$ 9,553

Fair Value Measurements - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01		$ 0.01
Aggregate purchase price of equity securities				$ 80,000,000	$ 0
Goodwill impairment charges		$ 0	$ 0	0	$ 0
GBT
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares acquired in investment (in shares)	8
Common stock, par value (in dollars per share)	$ 0.0001
Aggregate purchase price of equity securities	$ 80,000,000
Unrealized losses recognized		$ 5,000,000		$ 35,000,000

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value (Details) - Recurring $ in Thousands	Sep. 30, 2022 USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	$ 49,631
GBT Common Stock
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Equity securities	45,280
Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets (liabilities), net	4,351
Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	45,280
Level 1 \| GBT Common Stock
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Equity securities	45,280
Level 1 \| Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets (liabilities), net	0
Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	4,351
Level 2 \| GBT Common Stock
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Equity securities	0
Level 2 \| Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets (liabilities), net	4,351
Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	0
Level 3 \| GBT Common Stock
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Equity securities
Level 3 \| Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivative assets (liabilities), net	$ 0

Fair Value Measurements - Schedule of Fair Value and Carrying Value of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Term Loan B \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 530,087	$ 1,767,432
Term Loan B \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	535,971	1,803,318
Term Loan B-1 \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	369,527	397,458
Term Loan B-1 \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	398,120	401,036
Term Loan B-2 \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	574,740	633,171
Term Loan B-2 \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	631,234	635,416
2022 Term Loan B-1 \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	581,064	0
2022 Term Loan B-1 \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	615,450	0
2022 Term Loan B-2 \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	638,719	0
2022 Term Loan B-2 \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 641,393	0
9.25% senior secured notes due 2025 \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument interest rate percentage	9.25%
9.25% senior secured notes due 2025 \| Fair Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 738,474	877,916
9.25% senior secured notes due 2025 \| Carrying Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 775,000	775,000
7.375% senior secured notes due 2025 \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument interest rate percentage	7.375%
7.375% senior secured notes due 2025 \| Fair Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 763,024	886,423
7.375% senior secured notes due 2025 \| Carrying Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 850,000	850,000
4.00% senior exchangeable notes due 2025 \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument interest rate percentage	4.00%
4.00% senior exchangeable notes due 2025 \| Fair Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 316,367	454,459
4.00% senior exchangeable notes due 2025 \| Carrying Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 333,220	$ 333,220

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	$ (731,996)	$ (606,582)	$ (437,705)	$ (499,717)	$ (355,077)	$ (159,792)	$ 31,739	$ 285,154
Total accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	(77,240)	$ (75,945)	$ (77,823)	(80,287)	$ (92,605)	$ (106,171)	$ (135,742)	$ (135,957)
Defined benefit pension and other postretirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	(77,924)			(84,773)
Unrealized foreign currency translation (loss) gain
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	(2,018)			6,282
Unrealized gain on interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	4,608			0
Share of other comprehensive loss of equity method investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	$ (1,906)			$ (1,796)

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Stock and Stockholders' Equity (Details)

3 Months Ended

9 Months Ended

12 Months Ended

Oct. 18, 2022

$ / shares

Aug. 24, 2020

USD ($)

day

dividendPeriod

director

$ / shares

Rate

Apr. 17, 2020

USD ($)

day

Sep. 30, 2022

USD ($)

Jun. 30, 2022

USD ($)

Mar. 31, 2022

USD ($)

Sep. 30, 2021

USD ($)

Jun. 30, 2021

USD ($)

Mar. 31, 2021

USD ($)

Sep. 30, 2022

USD ($)

Sep. 30, 2021

USD ($)

Dec. 31, 2021

USD ($)

Feb. 28, 2017

USD ($)

Preferred stock, shares outstanding (in shares) | shares

3,290,000

Accrued preferred stock dividends

^[1]

$ 5,346,000

$ 5,347,000

$ 5,346,000

$ 5,400,000

$ 5,428,000

Dividends paid on preferred stock

5,000,000

$ 5,000,000

$ 16,039,000

$ 16,283,000

Authorized to repurchase

$ 500,000,000

Number of shares repurchased (in shares) | shares

Remaining authorized amount

287,000,000

$ 287,000,000

4.00% senior exchangeable notes due 2025 | Convertible Debt

Number of consecutive trading days | day

Face value of debt instruments at the time of issuance

$ 345,000,000

Debt conversion, converted instrument, amount

$ 10,000,000

Debt conversion, converted instrument, shares issued (in shares) | shares

1,269,497

Face value of outstanding debt

$ 333,220,000

333,220,000

$ 333,220,000

Common Stock

Conversion of stock, shares issued (in shares) | shares

595,240

6.50% Series A Mandatory Convertible Preferred Stock

Shares sold in offering (in shares) | shares

3,340,000

Annual percentage rate

6.50%

Offering proceeds

$ 323,000,000

Conversion of stock, shares converted (in shares) | shares

50,000

Liquidation preference (in dollars per share) | $ / shares

$ 100

Annual liquidation preference (in dollars per share) | $ / shares

$ 6.50

Accrued preferred stock dividends

$ 5,000,000

$ 16,000,000

Number of consecutive trading days | day

Number of dividend periods with no stock declared or paid | dividendPeriod

Number of new directors to elect | director

6.50% Series A Mandatory Convertible Preferred Stock | Minimum

Shares issued at conversion (in shares) | shares

Conversion rate | Rate

1190.48%

39,000,000

6.50% Series A Mandatory Convertible Preferred Stock | Maximum

Shares issued at conversion (in shares) | shares

Conversion rate | Rate

1428.57%

47,000,000

6.50% Series A Mandatory Convertible Preferred Stock | Subsequent Event