0001597033-23-000073 | 10-Q | XBRL Viewer

Credit Losses (Tables)

6 Months Ended

Jun. 30, 2023

Our allowance for credit losses for the six months ended June 30, 2023 for our portfolio segment is summarized as follows (in thousands):


	Six Months Ended June 30, 2023
Balance at December 31, 2022	$	38,815

Provision for expected credit losses	8,292
Write-offs	(4,808)
Other	159

Balance at June 30, 2023	$	42,458

Restructuring Activities

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring Activities

During the second quarter of 2023, we announced and began to implement a cost reduction plan designed to reposition our business and to structurally reduce our cost base. As a result of this cost reduction plan, we incurred restructuring costs beginning in the second quarter of 2023 associated with our workforce. This cost reduction plan will continue to be implemented over the remainder of 2023 and may result in additional restructuring charges as we continue to evaluate third-party costs including our geographic and real estate footprints.

During the three and six months ended June 30, 2023, we incurred $56 million in connection with this business plan, of which $12 million is recorded within cost of revenue, excluding technology costs, $21 million is recorded within technology costs and $23 million is recorded within selling, general and administrative costs within our consolidated statement of operations. A substantial portion of these costs represent future cash expenditures for the payment of severance and related benefits costs. Costs associated with our cost reduction plan are expected to be approximately $70 million for the year, with the majority of disbursements occurring in 2023.

The following table summarizes the accrued liability related to severance and related benefits costs as recorded within accrued compensation and related benefits within our consolidated balance sheets, related to this cost reduction plan (in thousands):


	Six Months Ended June 30, 2023
Balance as of January 1, 2023	$	—
Charges	55,648
Cash Payments	(21,691)
Balance as of June 30, 2023	$	33,957

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 737,529	$ 657,532	$ 1,480,224	$ 1,242,442
Adjusted Operating Income (Loss)	46,095	(9,312)	73,771	(38,467)
Depreciation and amortization	36,888	49,225	77,207	99,334
Capital Expenditures	30,080	15,980	48,190	33,384
Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	26,617	33,518	56,907	67,572
Capital Expenditures	20,925	11,237	35,905	22,163
Operating Segments \| Travel Solutions
Segment Reporting Information [Line Items]
Revenue	670,761	599,149	1,348,202	1,133,147
Adjusted Operating Income (Loss)	116,368	57,884	206,470	103,190
Depreciation and amortization	20,273	28,031	44,879	56,286
Capital Expenditures	18,700	11,000	31,752	18,397
Operating Segments \| Hospitality Solutions
Segment Reporting Information [Line Items]
Revenue	76,671	66,204	150,483	122,208
Adjusted Operating Income (Loss)	(2,037)	(12,040)	(10,531)	(27,157)
Depreciation and amortization	6,344	5,487	12,028	11,286
Capital Expenditures	2,225	237	4,153	3,766
Eliminations
Segment Reporting Information [Line Items]
Revenue	(9,903)	(7,821)	(18,461)	(12,913)
Corporate
Segment Reporting Information [Line Items]
Adjusted Operating Income (Loss)	(68,236)	(55,156)	(122,168)	(114,500)
Depreciation and amortization	10,271	15,707	20,300	31,762
Capital Expenditures	$ 9,155	$ 4,743	$ 12,285	$ 11,221

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Operating Activities
Net loss	$ (123,997)	$ (186,502)	$ (223,766)	$ (138,824)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	36,888	49,225	77,207	99,334
Stock-based compensation expense			25,743	53,732
Deferred income taxes			(18,734)	(8,600)
Amortization of upfront incentive consideration			18,010	23,785
Gain (loss) on extinguishment of debt	(12,543)	0	(12,543)	3,533
Amortization of debt discount and issuance costs			11,464	7,003
Provision for expected credit losses			8,292	263
(Gain) loss on investment fair value adjustment			(3,840)	29,520
Other			(3,576)	3,363
Dividends received from equity method investments			1,514	488
Loss from discontinued operations	(2)	284	401	150
Gain on sale of assets and investments			0	(180,081)
Changes in operating assets and liabilities:
Accounts and other receivables			(101,815)	(170,853)
Prepaid expenses and other current assets			24,856	(7,658)
Capitalized implementation costs			(4,368)	(7,059)
Upfront incentive consideration			(13,273)	(6,593)
Other assets			6,243	33,557
Accrued compensation and related benefits			4,355	(31,370)
Accounts payable and other accrued liabilities			72,479	73,736
Deferred revenue including upfront solution fees			32,163	10,262
Cash used in operating activities			(99,188)	(212,312)
Investing Activities
Additions to property and equipment	(30,080)	(15,980)	(48,190)	(33,384)
Acquisitions, net of cash acquired			(13,355)	(6,986)
Net proceeds from dispositions			0	392,268
Purchase of investment in equity securities			0	(80,000)
Cash (used in) provided by investing activities			(61,545)	271,898
Financing Activities
Payments on borrowings from lenders			(718,722)	(629,479)
Proceeds on borrowings from lenders			677,486	625,000
Proceeds from borrowings under AR Facility			178,600	0
Payments on borrowings under AR Facility			(48,600)	0
Debt prepayment fees and issuance costs			(23,007)	(9,747)
Proceeds from sale of redeemable shares in subsidiary			16,000	0
Dividends paid on preferred stock	(5,000)	(5,000)	(10,693)	(10,693)
Net payment on the settlement of equity-based awards			(5,555)	(15,330)
Other financing activities			4,851	(159)
Cash provided by (used in) financing activities			70,360	(40,408)
Cash Flows from Discontinued Operations
Cash provided by (used in) operating activities			80	(2,698)
Cash provided by (used in) discontinued operations			80	(2,698)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			1,554	(2,652)
(Decrease) increase in cash, cash equivalents and restricted cash			(88,739)	13,828
Cash, cash equivalents and restricted cash at beginning of period			815,923	999,391	$ 999,391
Cash, cash equivalents and restricted cash at end of period	$ 727,184	$ 1,013,219	727,184	1,013,219	$ 815,923
Non-cash additions to property and equipment			$ 506	$ 2,286

Derivatives - Schedule of Estimated Fair Values of Derivatives Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Designated as Hedging Instrument
Derivative [Line Items]
Total	$ 3,247	$ 4,737
Designated as Hedging Instrument \| Interest rate swaps
Derivative [Line Items]
Derivative asset	3,374	4,905
Derivative liability	$ (127)	$ (168)

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-12

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480493/946-210-55-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5C

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(3)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483466/210-20-50-3

Reference 22: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-22

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-10

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-10

+ Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5C

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483466/210-20-50-3

Reference 22: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-22

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-10

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-10

+ Details

Redeemable Noncontrolling Interest - Narrative (Details) $ in Thousands		1 Months Ended	6 Months Ended
	Feb. 01, 2023 USD ($)	Feb. 28, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Redeemable Noncontrolling Interest [Line Items]
Cash consideration received from sale of ownership interest			$ 0	$ 392,268
Redeemable noncontrolling interests			$ 15,014		$ 0
Conferma's Direct Parent
Redeemable Noncontrolling Interest [Line Items]
Percentage of ownership interest sold	0.19	0.19
Cash consideration received from sale of ownership interest	$ 16,000	$ 16,000
Conferma's Direct Parent \| Scenario, Plan
Redeemable Noncontrolling Interest [Line Items]
Percentage of ownership interest redeemable	19.00%
Purchase price of ownership interest redeemable	$ 16,000

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of business segments	2

Fair Value Measurements - Schedule of Fair Value and Carrying Value of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
2021 Term Loan B-1 \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 311,288	$ 362,872
2021 Term Loan B-1 \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	393,318	397,147
2021 Term Loan B-2 \| Fair Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	483,260	578,042
2021 Term Loan B-2 \| Carrying Value \| Term Loan
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	610,175	629,832
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	454,848	567,974
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	597,922	614,139
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	514,635	623,235
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	$ 616,504	640,899
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	$ 97,798	774,128
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	$ 104,901	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	$ 755,535	813,539
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	$ 259,092	358,440
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
11.25% senior secured notes due 2027 \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt instrument interest rate percentage	11.25%
11.25% senior secured notes due 2027 \| Fair Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 469,558	572,058
11.25% senior secured notes due 2027 \| Carrying Value \| Senior Secured Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial instrument fair value, notes payable	$ 545,554	$ 544,770

Debt (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

The following table sets forth the face values of our outstanding debt as of June 30, 2023 and December 31, 2022 (in thousands):


	Rate	Maturity	June 30, 2023		December 31, 2022
Senior secured credit facilities:


2021 Term Loan B-1	S(1) + 3.50%	December 2027	$	394,035	$	397,940
2021 Term Loan B-2	S(1) + 3.50%	December 2027	614,151		634,340



2022 Term Loan B-1	S(1) + 4.25%	June 2028	603,447		620,313
2022 Term Loan B-2	S(1) + 5.00%	June 2028	645,310		673,313
Senior Secured Term Loan Due 2028	RR(3) + 1.75%(4)	December 2028	700,000		—
AR Facility(2)	S(1) + 2.25%	January 2025	130,000		—
9.25% senior secured notes due 2025	9.25%	April 2025	104,901		775,000
7.375% senior secured notes due 2025	7.375%	September 2025	850,000		850,000
4.00% senior exchangeable notes due 2025	4.00%	April 2025	333,220		333,220
11.25% senior secured notes due 2027	11.25%	December 2027	555,000		555,000
Face value of total debt outstanding			4,930,064		4,839,126
Less current portion of debt outstanding			(4,040)		(23,480)
Face value of long-term debt outstanding			$	4,926,024	$	4,815,646

______________________

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

(2)The AR Facility (as defined below) is subject to certain "springing" maturity conditions; the maturity may extend to February 2026 at the latest.

(3)Represents the Reference Rate as defined below.

(4)At our election, if interest is paid in cash the spread is 0.25% per annum, and in the case of interest paid in kind the spread is 1.75%.

Schedule of Exchangeable Debt

The following table sets forth the carrying value of the Exchangeable Notes as of June 30, 2023 and December 31, 2022, (in thousands):


	June 30, 2023		December 31, 2022
Principal	$	333,220	$	333,220

Less: Unamortized debt issuance costs	4,463		5,642
Net carrying value	$	328,757	$	327,578

Schedule of Interest Expense

The following table sets forth interest expense recognized related to the Exchangeable Notes for the three and six months ended June 30, 2023 and 2022 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Contractual interest expense	$	3,332	$	3,332	$	6,664	$	6,664
Amortization of issuance costs	593		565		1,179		1,124

Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Information

Segment information for the three and six months ended June 30, 2023 and 2022 is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue
Travel Solutions	$	670,761	$	599,149	$	1,348,202	$	1,133,147
Hospitality Solutions	76,671		66,204		150,483		122,208
Eliminations	(9,903)		(7,821)		(18,461)		(12,913)
Total revenue	$	737,529	$	657,532	$	1,480,224	$	1,242,442
Adjusted Operating Income (Loss)(a)
Travel Solutions	$	116,368	$	57,884	$	206,470	$	103,190
Hospitality Solutions	(2,037)		(12,040)		(10,531)		(27,157)
Corporate	(68,236)		(55,156)		(122,168)		(114,500)
Total	$	46,095	$	(9,312)	$	73,771	$	(38,467)
Depreciation and amortization
Travel Solutions	$	20,273	$	28,031	$	44,879	$	56,286
Hospitality Solutions	6,344		5,487		12,028		11,286
Total segments	26,617		33,518		56,907		67,572
Corporate	10,271		15,707		20,300		31,762
Total	$	36,888	$	49,225	$	77,207	$	99,334
Capital Expenditures
Travel Solutions	$	18,700	$	11,000	$	31,752	$	18,397
Hospitality Solutions	2,225		237		4,153		3,766
Total segments	20,925		11,237		35,905		22,163
Corporate	9,155		4,743		12,285		11,221
Total	$	30,080	$	15,980	$	48,190	$	33,384

______________________

(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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating loss	$	(42,183)	$	(70,193)	$	(42,396)	$	(149,725)
Add back:
Equity method income	459		186		882		16

Acquisition-related amortization(1)	9,934		15,448		19,867		31,251
Restructuring and other costs(2)	59,372		4,336		59,053		4,336
Acquisition-related costs(3)	541		2,245		1,388		5,909
Litigation costs, net(4)	9,234		12,539		9,234		16,014
Stock-based compensation	8,738		26,127		25,743		53,732
Adjusted Operating Income (Loss)	$	46,095	$	(9,312)	$	73,771	$	(38,467)

______________________

(1)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.

(2)Restructuring and other costs in the current year primarily represents charges associated with our cost reduction plan implemented in the second quarter of 2023. See Note 5. Restructuring Activities to our consolidated financial statements. During 2022, charges, and adjustments to those charges, were recorded associated with planning and implementing business restructuring activities, including costs associated with third party consultants advising on our business structure and strategy.

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

(4)Litigation costs, net represent charges associated with antitrust litigation and other foreign non-income tax contingency matters. See Note 14. Contingencies.

Credit Losses

6 Months Ended

Jun. 30, 2023

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 six months ended June 30, 2023 for our portfolio segment is summarized as follows (in thousands):


	Six Months Ended June 30, 2023
Balance at December 31, 2022	$	38,815

Provision for expected credit losses	8,292
Write-offs	(4,808)
Other	159

Balance at June 30, 2023	$	42,458

Our provision for expected credit losses for the six months ended June 30, 2023 increased $8 million from an immaterial provision in the same period in the prior year. Given the uncertainties surrounding the travel industry and the global economic recovery, we cannot provide assurance that the assumptions used in our estimates will be accurate and actual write-offs may vary from our estimates.

Fair Value Measurements - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions		1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 30, 2023	May 31, 2022	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
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		$ 0.01
Aggregate purchase price of equity securities				$ 0	$ 80,000,000
Goodwill impairment charges			$ 0	0
Investment in securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares acquired in investment (in shares)	8	8
Common stock, par value (in dollars per share)		$ 0.0001
Aggregate purchase price of equity securities		$ 80,000,000
Unrealized gains recognized			$ 5,000,000	$ 4,000,000

Earnings Per Share

6 Months Ended

Jun. 30, 2023

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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Loss from continuing operations	$	(123,999)	$	(186,218)	$	(223,365)	$	(138,674)
Less: Net (loss) income attributable to noncontrolling interests	(66)		885		(901)		1,157
Less: Preferred stock dividends	5,347		5,347		10,693		10,693



Net loss from continuing operations available to common stockholders, diluted	$	(129,280)	$	(192,450)	$	(233,157)	$	(150,524)
Denominator:
Basic weighted-average common shares outstanding	332,147		326,573		330,547		325,124



Diluted weighted-average common shares outstanding	332,147		326,573		330,547		325,124
Loss per share from continuing operations:
Basic	$	(0.39)	$	(0.59)	$	(0.71)	$	(0.46)
Diluted	$	(0.39)	$	(0.59)	$	(0.71)	$	(0.46)

Basic earnings per share is computed by dividing net loss 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 loss 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 six months ended June 30, 2023, respectively, and 3 million of dilutive stock options and restricted stock awards for the three and six months ended June 30, 2022 as their effect would be anti-dilutive given the net loss incurred in the period. The calculation of diluted weighted-average shares excludes the impact of 9 million and 6 million of anti-dilutive common stock equivalents for the three and six months ended June 30, 2023, respectively, and 4 million and 2 million of anti-dilutive common stock equivalents for the three and six months ended June 30, 2022, 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 six months ended June 30, 2023 and 2022 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 the period.

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 47 million and 39 million resulting common shares related to the Preferred Stock for the three and six months ended June 30, 2023 and 2022, 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 the period.

Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2023

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 June 30, 2023 and December 31, 2022 (in thousands).


Account	Consolidated Balance Sheet Location	June 30, 2023		December 31, 2022
Contract assets and customer advances and discounts(1)	Prepaid expenses and other current assets / other assets, net	$	48,810	$	55,473
Trade and unbilled receivables, net	Accounts receivable, net	439,251		352,214
Long-term trade unbilled receivables, net	Other assets, net	14,739		16,129
Contract liabilities	Deferred revenues / other noncurrent liabilities	147,314		115,151

______________________

(1) Includes contract assets of $12 million for June 30, 2023 and December 31, 2022.

During the six months ended June 30, 2023, we recognized revenue of approximately $21 million from contract liabilities that existed as of January 1, 2023. 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. We evaluate collectability of our accounts receivable based on a combination of factors and record reserves as described further in Note 7. Credit Losses.

Revenue

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Distribution	$	530,405	$	431,538	$	1,056,291	$	774,426
IT Solutions	140,356		167,611		291,911		358,721
Total Travel Solutions	670,761		599,149		1,348,202		1,133,147
SynXis Software and Services	69,519		58,625		136,033		108,359
Other	7,152		7,579		14,450		13,849
Total Hospitality Solutions	76,671		66,204		150,483		122,208
Eliminations	(9,903)		(7,821)		(18,461)		(12,913)
Total Sabre Revenue	$	737,529	$	657,532	$	1,480,224	$	1,242,442

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 six months ended June 30, 2023, there was no impact on revenue recognized in the current period from performance obligations partially or fully satisfied in the previous period.

Our air booking cancellation reserve totaled $12 million and $11 million as of June 30, 2023, and December 31, 2022, respectively.

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.

- Definition

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

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

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

+ Details

Debt - Narrative (Details)								3 Months Ended		6 Months Ended		12 Months Ended
Debt - Narrative (Details)	Jun. 13, 2023 USD ($)	Mar. 30, 2023 USD ($)	Feb. 14, 2023 USD ($)	Dec. 06, 2022 USD ($)	Aug. 15, 2022 USD ($)	Mar. 09, 2022 USD ($)	Apr. 17, 2020 USD ($) day $ / shares	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) shares	Jun. 15, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding debt								$ 4,802,000,000		$ 4,802,000,000		$ 4,741,000,000
Debt issuance costs								57,000,000		57,000,000		44,000,000
Unamortized discount								71,000,000		71,000,000		54,000,000
Proceeds on borrowings from lenders										677,486,000	$ 625,000,000
Gain (loss) on extinguishment of debt								12,543,000	$ 0	12,543,000	(3,533,000)
Payment of underwriting fees, commissions and other expenses										23,007,000	9,747,000
AF Facility
Debt Instrument [Line Items]
Drawn fee			2.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Cash collateral for borrowed securities								21,000,000		21,000,000		21,000,000
Line of Credit
Debt Instrument [Line Items]
Value of debt outstanding								130,000,000		130,000,000		0
Line of Credit \| AF Facility
Debt Instrument [Line Items]
Debt issuance costs			$ 2,000,000
Proceeds on borrowings from lenders		$ 115,000,000
Debt term			3 years
Assets								471,000,000		471,000,000
Line of Credit \| AF Facility \| Accounts receivable, net
Debt Instrument [Line Items]
Assets								456,000,000		456,000,000
Line of Credit \| AF Facility \| Other assets, net
Debt Instrument [Line Items]
Assets								15,000,000		15,000,000
Line of Credit \| AF Facility \| Maximum
Debt Instrument [Line Items]
Aggregate principal amount of debt			$ 200,000,000
Line of Credit \| AF Facility \| SOFR Floor
Debt Instrument [Line Items]
Basis spread on rate			0.00%
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Outstanding letters of credit								13,000,000		13,000,000		$ 12,000,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Value of debt outstanding								130,000,000		130,000,000
Term Loan \| 2022 Term Loan B-1
Debt Instrument [Line Items]
Proceeds on borrowings from lenders						$ 625,000,000
Debt instrument, unamortized discount						1,000,000
Debt instrument, fee amount						1,000,000
Gain (loss) on extinguishment of debt											(4,000,000)
Payments of debt restructuring costs											$ 1,000,000
Debt instrument, prepayment or repayment premium												1.01
Value of debt outstanding								603,447,000		603,447,000		$ 620,313,000
Term Loan \| 2022 Term Loan B-1, Including Additional Discounts And Fees
Debt Instrument [Line Items]
Debt instrument, unamortized discount						5,000,000
Debt instrument, fee amount						3,000,000
Term Loan \| Term Loan B
Debt Instrument [Line Items]
Outstanding debt					$ 647,000,000	$ 623,000,000
Gain (loss) on extinguishment of debt												(1,000,000)
Extinguishment of debt				$ 536,000,000
Accrued interest redeemed				1,000,000
Write-off of unamortized debt issuance costs												1,000,000
Term Loan \| 2021 Term Loan B-1, 2021 Term Loan B-2 And 2022 Term Loan B-2
Debt Instrument [Line Items]
Repurchase of debt	$ 15,000,000
Term Loan \| 2022 Term Loan B-2
Debt Instrument [Line Items]
Proceeds on borrowings from lenders					675,000,000
Debt instrument, unamortized discount					25,000,000
Debt instrument, fee amount					3,000,000
Gain (loss) on extinguishment of debt												0
Payments of debt restructuring costs												$ 5,000,000
Debt instrument, prepayment or repayment premium												1.01
Value of debt outstanding								645,310,000		645,310,000		$ 673,313,000
Term Loan \| 2022 Term Loan B-2, Including Additional Discounts And Fees
Debt Instrument [Line Items]
Debt instrument, unamortized discount					9,000,000
Debt instrument, fee amount					$ 2,000,000
Term Loan \| Senior Secured Term Loan Due 2028
Debt Instrument [Line Items]
Debt instrument, unamortized discount														$ 23,000,000
Debt instrument, fee amount														13,000,000
Aggregate principal amount of debt	700,000,000
Net proceeds from sale of debt	$ 700,000,000
Prepayment premium, percentage of applicable interest margin	25.00%
Number of prior trading days triggering floating rate trance	20 days
Reference rate	13.00%
Minimum required cash balance in certain foreign subsidiaries	$ 100,000,000
Value of debt outstanding								$ 700,000,000		$ 700,000,000		0
Term Loan \| Senior Secured Term Loan Due 2028 \| Cash interest \| Minimum
Debt Instrument [Line Items]
Debt instrument interest rate percentage	11.50%
Term Loan \| Senior Secured Term Loan Due 2028 \| Cash interest \| Maximum
Debt Instrument [Line Items]
Debt instrument interest rate percentage	17.50%
Term Loan \| Senior Secured Term Loan Due 2028 \| Payable-in-kind interest \| Minimum
Debt Instrument [Line Items]
Debt instrument interest rate percentage	13.00%
Term Loan \| Senior Secured Term Loan Due 2028 \| Payable-in-kind interest \| Maximum
Debt Instrument [Line Items]
Debt instrument interest rate percentage	19.00%
Term Loan \| Senior Secured Term Loan Due 2028 \| Reference Rate
Debt Instrument [Line Items]
Basis spread on rate										1.75%
Term Loan \| Senior Secured Term Loan Due 2028 \| Reference Rate \| Cash interest
Debt Instrument [Line Items]
Basis spread on rate	0.25%									0.25%
Term Loan \| Senior Secured Term Loan Due 2028 \| Reference Rate \| Payable-in-kind interest
Debt Instrument [Line Items]
Basis spread on rate	1.75%									1.75%
Senior Secured Notes \| 9.25% senior secured notes due 2025
Debt Instrument [Line Items]
Debt instrument, fee amount														13,000,000
Gain (loss) on extinguishment of debt										$ 14,000,000
Repurchase of debt	$ 650,000,000
Debt instrument interest rate percentage								9.25%		9.25%
Accrued and unpaid interest														$ 10,000,000
Value of debt outstanding								$ 104,901,000		$ 104,901,000		775,000,000
Senior Secured Notes \| Senior Secured Notes 11.250% Due 2027
Debt Instrument [Line Items]
Debt instrument, unamortized discount				10,000,000
Aggregate principal amount of debt				555,000,000
Net proceeds from sale of debt				$ 545,000,000
Debt instrument interest rate percentage				11.25%
Discount rate at issuance				0.01866
Remaining proceeds from sale of debt				$ 8,000,000
Payment of underwriting fees, commissions and other expenses				$ 10,000,000
Senior Secured Notes \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Debt instrument interest rate percentage								4.00%		4.00%
Value of debt outstanding								$ 333,220,000		$ 333,220,000		333,220,000
Conversion rate							0.1269499
Convertible Debt \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Outstanding debt								328,757,000		328,757,000		327,578,000
Debt instrument, unamortized discount								4,463,000		4,463,000		5,642,000
Aggregate principal amount of debt							$ 345,000,000
Repurchase of debt													$ 3,000,000
Debt instrument interest rate percentage							4.00%
Value of debt outstanding								$ 333,220,000		$ 333,220,000		$ 333,220,000
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
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
Proceeds from debt, net of issuance costs							$ 336,000,000
Convertible Debt \| 4.00% senior exchangeable notes due 2025 \| 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

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Loss from continuing operations	$ (123,999)	$ (186,218)	$ (223,365)	$ (138,674)
Less: Net (loss) income attributable to noncontrolling interests	(66)	885	(901)	1,157
Less: Preferred stock dividends	5,347	5,347	10,693	10,693
Net loss from continuing operations available to common stockholders, diluted	$ (129,280)	$ (192,450)	$ (233,157)	$ (150,524)
Denominator:
Basic weighted-average common shares outstanding (in shares)	332,147	326,573	330,547	325,124
Diluted weighted-average common shares outstanding (in shares)	332,147	326,573	330,547	325,124
Loss per share from continuing operations:
Basic (in dollars per share)	$ (0.39)	$ (0.59)	$ (0.71)	$ (0.46)
Diluted (in dollars per share)	$ (0.39)	$ (0.59)	$ (0.71)	$ (0.46)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Examination [Line Items]
Income tax expense	$ 5,909	$ 5,390	$ 8,108	$ 4,794
Valuation allowance	515,000		515,000
Unrecognized tax benefits	$ 69,000		$ 69,000		$ 76,000
Maximum
Income Tax Examination [Line Items]
Effective tax rate			1.00%	1.00%

- Definition

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

+ References + Details

General Information	6 Months Ended
General Information	Jun. 30, 2023
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 ecosystem has shifted over the past few years, including through the COVID-19 pandemic, resulting in the changing needs of our airline, hotel and agency customers. These effects have resulted in continued material headwinds for our consolidated financial results in 2022 and through the second quarter of 2023. Despite continued impacts on our business and global travel volumes, as travel restrictions have been relaxed and travel patterns return, we have seen gradual improvement in our key volume metrics during 2022 and through the second quarter of 2023. With the continued increase in volumes, our incentive consideration costs are also increasing significantly compared to previous periods. We believe our cash position and the liquidity measures we have taken will continue to provide flexibility as we manage through the global economic recovery. 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 impact on our business, 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 six months ended June 30, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2023. 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 17, 2023. 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 17, 2023. 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 2020, the Financial Accounting Standards Board ("FASB") issued updated guidance which provides optional expedients and exceptions for applying U.S. GAAP to existing contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued, if certain criteria are met. This standard is effective for all entities upon issuance and is optional through December 31, 2024. We elected the optional expedient in the second quarter of 2023 in connection with the SOFR Amendment (defined in Note 8. Debt below). In March 2022, the 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, which did not have a material impact on our consolidated financial statements.

Debt - Schedule of Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Amortization of issuance costs			$ 11,464	$ 7,003
Convertible Debt \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Contractual interest expense	$ 3,332	$ 3,332	6,664	6,664
Amortization of issuance costs	$ 593	$ 565	$ 1,179	$ 1,124

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

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

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

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

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

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Redeemable Noncontrolling Interest (Tables)

6 Months Ended

Jun. 30, 2023

Noncontrolling Interest [Abstract]

Schedule of Changes in Redeemable Noncontrolling Interest

The following table presents the changes in redeemable noncontrolling interest of a consolidated subsidiary in temporary equity during the period ended June 30, 2023 (in thousands):


	Six Months Ended June 30, 2023
Proceeds from sale of redeemable noncontrolling interest	$	16,000
Net loss attributable to redeemable noncontrolling interest	(986)
Redeemable noncontrolling interest, end of period	$	15,014

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	$ (1,083,656)	$ (964,548)	$ (872,827)	$ (606,582)	$ (437,705)	$ (499,717)
Total accumulated other comprehensive loss, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	(63,307)	$ (64,479)	(65,731)	$ (75,945)	$ (77,823)	$ (80,287)
Defined benefit pension and other postretirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	(73,311)		(73,746)
Unrealized foreign currency translation gain
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	9,115		5,257
Unrealized gain on interest rate swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	3,046		4,577
Share of other comprehensive loss of equity method investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total accumulated other comprehensive loss, net of tax	$ (2,157)		$ (1,819)

- Definition

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

+ References + Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-3

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 38: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 40: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 41: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)
$ in Thousands

Total

Preferred Stock

Common Stock

Additional Paid in Capital

Treasury Stock

Retained Deficit

Accumulated Other Comprehensive Loss

Noncontrolling Interest

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]

Comprehensive income (loss)

50,142

47,406

2,464

272

Preferred stock dividends

^[1]

(5,346)

Settlement of stock-based awards (in shares)

3,883,688

1,077,178

Settlement of stock-based awards

(10,270)

$ 39

(9)

$ (10,300)

Stock-based compensation expense

27,605

Other

(119)

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

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

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 Jun. 30, 2022

352,943,330

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

22,929,668

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

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 Dec. 31, 2021

346,430,421

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

24,784,524

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]

Comprehensive income (loss)

(184,624)

(187,387)

1,878

885

Preferred stock dividends

^[1]

(5,347)

Settlement of stock-based awards (in shares)

2,629,221

777,678

Settlement of stock-based awards

(4,996)

$ 26

(1)

$ (5,021)

Stock-based compensation expense

26,127

Other

(37)

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

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

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

3,290,000

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

$ (872,827)

$ 33

$ 3,534

3,198,580

$ (514,215)

(3,506,528)

(65,731)

11,500

Common stock, beginning balance (in shares) at Mar. 31, 2023

358,108,284

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

24,895,000

24,894,998

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

Comprehensive income (loss)

$ (98,133)

(98,934)

1,252

(451)

Preferred stock dividends

^[1]

(5,346)

Settlement of stock-based awards (in shares)

4,671,781

1,304,145

Settlement of stock-based awards

(5,247)

$ 47

(5)

$ (5,289)

Stock-based compensation expense

17,005

Preferred stock, ending balance (in shares) at Mar. 31, 2023

3,290,000

Stockholders' equity, ending balance at Mar. 31, 2023

$ (964,548)

$ 33

$ 3,581

3,215,580

$ (519,504)

(3,610,808)

(64,479)

11,049

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

328,542,000

353,436,503

Treasury stock, ending balance (in shares) at Mar. 31, 2023

26,199,143

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

3,290,000

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

$ (872,827)

$ 33

$ 3,534

3,198,580

$ (514,215)

(3,506,528)

(65,731)

11,500

Common stock, beginning balance (in shares) at Jun. 30, 2023

332,297,000

358,563,492

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

24,895,000

24,894,998

Preferred stock, ending balance (in shares) at Jun. 30, 2023

3,290,000

Stockholders' equity, ending balance at Jun. 30, 2023

$ (1,083,656)

$ 33

$ 3,586

3,224,318

$ (519,765)

(3,740,086)

(63,307)

11,565

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

328,542,000

353,436,503

Treasury stock, ending balance (in shares) at Jun. 30, 2023

26,267,000

26,266,613

Preferred stock, beginning balance (in shares) at Mar. 31, 2023

3,290,000

Stockholders' equity, beginning balance at Mar. 31, 2023

$ (964,548)

$ 33

$ 3,581

3,215,580

$ (519,504)

(3,610,808)

(64,479)

11,049

Common stock, beginning balance (in shares) at Jun. 30, 2023

332,297,000

358,563,492

Treasury stock, beginning balance (in shares) at Mar. 31, 2023

26,199,143

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

Comprehensive income (loss)

$ (122,243)

(123,931)

1,172

516

Preferred stock dividends

^[1]

(5,347)

Settlement of stock-based awards (in shares)

455,208

67,470

Settlement of stock-based awards

(256)

$ 5

$ (261)

Stock-based compensation expense

$ 8,738

8,738

Preferred stock, ending balance (in shares) at Jun. 30, 2023

3,290,000

Stockholders' equity, ending balance at Jun. 30, 2023

$ (1,083,656)

$ 33

$ 3,586

$ 3,224,318

$ (519,765)

$ (3,740,086)

$ (63,307)

$ 11,565

Common stock, ending balance (in shares) at Mar. 31, 2023

358,108,284

Treasury stock, ending balance (in shares) at Jun. 30, 2023

26,267,000

26,266,613

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

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Allowance for credit loss	$ 42,458	$ 38,815
Accumulated depreciation on property and equipment	$ 1,896,352	$ 1,939,215
Preferred stock (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	225,000,000	225,000,000
Preferred stock, shares issued (in shares)	3,290,000	3,290,000
Preferred stock, shares outstanding (in shares)	3,290,000	3,290,000
Preferred stock, aggregate liquidation value	$ 329,000	$ 329,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	358,563,000	353,436,000
Common stock, shares outstanding (in shares)	332,297,000	328,542,000
Treasury stock, shares held (in shares)	26,267,000	24,895,000
Customer relationships
Accumulated amortization on finite lived intangible assets	$ 815,335	$ 803,026
Other Intangible Assets
Accumulated amortization on finite lived intangible assets	$ 779,272	$ 771,611

Debt - Schedule of Exchangeable Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Net carrying value	$ 4,802,000	$ 4,741,000
Convertible Debt \| 4.00% senior exchangeable notes due 2025
Debt Instrument [Line Items]
Principal	333,220	333,220
Less: Unamortized debt issuance costs	4,463	5,642
Net carrying value	$ 328,757	$ 327,578

- Definition

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

+ References

+ Details

- Definition

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

+ References + Details

Derivatives

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

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. As of June 30, 2023 and December 31, 2022, we had no unsettled forward contracts.

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.

Interest Rate Swap Contracts—Interest rate swaps outstanding during the six months ended June 30, 2023 and 2022, 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%(2)

April 30, 2022

December 31, 2023

$150 million

1 month SOFR(1)

2.79%(3)

June 30, 2022

December 31, 2023

$250 million

1 month SOFR(1)

4.72%

June 30, 2023

June 30, 2026

$250 million

1 month SOFR(1)

3.88%

December 31, 2023

December 31, 2024

______________________

(1) Subject to a 0.5% floor.

(2) 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.

(3) 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 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. In February 2023, we entered into a forward-starting interest rate swap to hedge the interest payments associated with $250 million of the floating-rate 2022 Term Loan B-1 for the year ended 2024. In June 2023, we entered into an interest rate swap to hedge the interest payments associated with $250 million of the floating-rate 2022 Term Loan B-2 for the years 2023 through 2026. We designated these swaps as cash flow hedges.

The estimated fair values of our derivatives designated as hedging instruments as of June 30, 2023 and December 31, 2022 are as follows (in thousands):


	Derivative Assets
		Fair Value as of
Derivatives Designated as Hedging Instruments	Consolidated Balance Sheet Location	June 30, 2023		December 31, 2022




Interest rate swaps	Prepaid expenses and other current assets	$	3,374	$	4,905

Interest rate swaps	Other noncurrent liabilities	(127)		(168)
Total		$	3,247	$	4,737

The effects of derivative instruments, net of taxes, on OCI for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands):


	Amount of Gains (Losses) Recognized in OCI on Derivative, Effective Portion
Derivatives in Cash Flow Hedging Relationships		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022

Interest rate swaps		$	1,181	$	(18)	$	885	$	(18)
Total		$	1,181	$	(18)	$	885	$	(18)


		Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion
Derivatives in Cash Flow Hedging Relationships	Income Statement Location	Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022

Interest rate swaps	Interest expense, net	$	(1,427)	$	244	$	(2,416)	$	244
Total		$	(1,427)	$	244	$	(2,416)	$	244

Derivatives - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Feb. 28, 2023	Jun. 30, 2022	Apr. 30, 2022
Interest rate swaps \| Cash Flow Hedging
Derivative [Line Items]
Notional Amount	$ 250	$ 250	$ 150	$ 200

Fair Value Measurements - Schedule of Assets Measured at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	$ 624,409	$ 657,127
Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	356,911	153,252
Time deposits
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	205,974	444,835
Investment in securities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Investment in securities	58,277	54,303
Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivatives	3,247	4,737
Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	415,188	207,555
Level 1 \| Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	356,911	153,252
Level 1 \| Time deposits
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Level 1 \| Investment in securities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Investment in securities	58,277	54,303
Level 1 \| Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivatives	0	0
Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	209,221	449,572
Level 2 \| Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Level 2 \| Time deposits
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	205,974	444,835
Level 2 \| Investment in securities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Investment in securities	0	0
Level 2 \| Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivatives	3,247	4,737
Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total	0	0
Level 3 \| Money market funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Level 3 \| Time deposits
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Level 3 \| Investment in securities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Investment in securities	0	0
Level 3 \| Interest rate swaps
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Derivatives	$ 0	$ 0

Revenue from Contracts with Customers - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	$ 737,529	$ 657,532	$ 1,480,224	$ 1,242,442
Operating Segments \| Travel Solutions
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	670,761	599,149	1,348,202	1,133,147
Operating Segments \| Travel Solutions \| Distribution
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	530,405	431,538	1,056,291	774,426
Operating Segments \| Travel Solutions \| IT Solutions
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	140,356	167,611	291,911	358,721
Operating Segments \| Hospitality Solutions
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	76,671	66,204	150,483	122,208
Operating Segments \| Hospitality Solutions \| SynXis Software and Services
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	69,519	58,625	136,033	108,359
Operating Segments \| Hospitality Solutions \| Other
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	7,152	7,579	14,450	13,849
Eliminations
Disaggregation of Revenue [Line Items]
Total Sabre Revenue	$ (9,903)	$ (7,821)	$ (18,461)	$ (12,913)

Contingencies	6 Months Ended
Contingencies	Jun. 30, 2023
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 amounts 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 amount of the 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 surviving claims included claims brought under Section 1 of the Sherman Act, relating to our contracts with US Airways, that US Airways claimed 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 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, an amount that we strongly disputed. 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 dismissal and/or summary judgment orders 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 in which it 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 remained intact. The lawsuit was remanded to federal court in the Southern District of New York for further proceedings consistent with the Second Circuit's Order and Opinion. 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. The court has referred the issue of the attorneys' fees and costs to a magistrate judge. The magistrate issued a recommendation, which the court has adopted in full, that US Airways is entitled to a reasonable attorneys' fees award, but that the award is subject to a reduction to reflect their nominal recovery. In June 2023, US Airways filed a motion seeking approximately $139 million in attorneys' fees and costs, an amount that we strongly dispute. 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 as long as the lawsuit continues. Indian Income Tax Litigation We were 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. The DIT later issued further tax assessments for assessment years ending March 2000 through March 2006. The DIT has continued to issue tax assessments on a similar basis for subsequent years; however, the tax assessments for assessment years ending March 2007 and later are not 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”). On June 19, 2009 and July 10, 2009, the ITAT ruled in our favor, 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 appealed the decision to the Supreme Court of India which upheld the Delhi High Court ruling on April 19, 2023. 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 High Court dismissed the case for assessment years ending March 2001 through March 2004. 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 through March 2020 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 $21 million as of June 30, 2023. 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 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 determine 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. During the three and six months ended June 30, 2023 we accrued $9 million associated with these other tax matters in selling, general and administrative expense. We will continue to monitor and update this estimate as additional information becomes available. 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.

Acquisitions and Dispositions	6 Months Ended
Acquisitions and Dispositions	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Dispositions	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 $62 million and the conversion of a pre-existing loan receivable 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 was recorded to Other, net within our results of operations. Conferma is part of our Travel Solutions segment. The accounting related to tax liabilities was finalized as of June 30, 2023 and did not result in any additional adjustments. In February 2023, we sold 19% of the share capital of the direct parent company of Conferma to a third party for proceeds of $16 million resulting in a non-controlling interest from that date. See Note 4. Redeemable Noncontrolling Interest for further details. 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 $34 million, and other assets, net of $25 million. We recorded a pre-tax gain on sale of approximately $180 million (after-tax $112 million) in Other, net in our consolidated statements of operations for the six months ended June 30, 2022, which includes a decrease recorded in the second quarter of 2022 of $12 million due to contingencies identified in connection with the sale.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retirement-related benefit plans:
Net actuarial gain, taxes	$ 0	$ 0	$ 0	$ 0
Amortization of prior service credits, taxes	0	0	0	0
Amortization of actuarial losses, taxes	0	0	0	0
Derivatives:
Unrealized gains on derivatives, taxes	0	0	0	0
Reclassification adjustment for realized (gains) losses, taxes	$ 0	$ 0	$ 0	$ 0

Acquisitions and Dispositions (Details)		1 Months Ended		6 Months Ended		10 Months Ended
Acquisitions and Dispositions (Details)	Feb. 01, 2023 USD ($)	Feb. 28, 2023 USD ($)	Aug. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Feb. 28, 2022 USD ($)
Business Acquisition [Line Items]
Net cash considerations paid				$ 13,355,000	$ 6,986,000
Proceeds from sale of share capital				$ 0	$ 392,268,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]					Other, net
Travel Solutions \| AirCentre Airline Operations \| Disposal Group, Not Discontinued Operations
Business Acquisition [Line Items]
Disposal group, including discontinued operation, consideration							$ 392,000,000
Goodwill disposed of							146,000,000
Working capital disposed of							34,000,000
Other assets disposed of							$ 25,000,000
Pre-tax gain on sale					$ 180,000,000
After-tax gain on sale					112,000,000
Contingencies in connection with sale					$ 12,000,000
Direct Parent Company of Conferma
Business Acquisition [Line Items]
Ownership interest percentage in business sold	0.19	0.19
Proceeds from sale of share capital	$ 16,000,000	$ 16,000,000
Conferma
Business Acquisition [Line Items]
Net cash considerations paid			$ 62,000,000
Conversion of preexisting loan into share capital			11,000,000
Gain upon conversion of loan			$ 4,000,000
Adjustments related to tax liabilities						$ 0

Segment Information

6 Months Ended

Jun. 30, 2023

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 Income (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 Income (Loss) as operating loss adjusted for equity method income, 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 six months ended June 30, 2023 and 2022 is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue
Travel Solutions	$	670,761	$	599,149	$	1,348,202	$	1,133,147
Hospitality Solutions	76,671		66,204		150,483		122,208
Eliminations	(9,903)		(7,821)		(18,461)		(12,913)
Total revenue	$	737,529	$	657,532	$	1,480,224	$	1,242,442
Adjusted Operating Income (Loss)(a)
Travel Solutions	$	116,368	$	57,884	$	206,470	$	103,190
Hospitality Solutions	(2,037)		(12,040)		(10,531)		(27,157)
Corporate	(68,236)		(55,156)		(122,168)		(114,500)
Total	$	46,095	$	(9,312)	$	73,771	$	(38,467)
Depreciation and amortization
Travel Solutions	$	20,273	$	28,031	$	44,879	$	56,286
Hospitality Solutions	6,344		5,487		12,028		11,286
Total segments	26,617		33,518		56,907		67,572
Corporate	10,271		15,707		20,300		31,762
Total	$	36,888	$	49,225	$	77,207	$	99,334
Capital Expenditures
Travel Solutions	$	18,700	$	11,000	$	31,752	$	18,397
Hospitality Solutions	2,225		237		4,153		3,766
Total segments	20,925		11,237		35,905		22,163
Corporate	9,155		4,743		12,285		11,221
Total	$	30,080	$	15,980	$	48,190	$	33,384

______________________

(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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating loss	$	(42,183)	$	(70,193)	$	(42,396)	$	(149,725)
Add back:
Equity method income	459		186		882		16

Acquisition-related amortization(1)	9,934		15,448		19,867		31,251
Restructuring and other costs(2)	59,372		4,336		59,053		4,336
Acquisition-related costs(3)	541		2,245		1,388		5,909
Litigation costs, net(4)	9,234		12,539		9,234		16,014
Stock-based compensation	8,738		26,127		25,743		53,732
Adjusted Operating Income (Loss)	$	46,095	$	(9,312)	$	73,771	$	(38,467)

______________________

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

(4)Litigation costs, net represent charges associated with antitrust litigation and other foreign non-income tax contingency matters. See Note 14. Contingencies.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Credit Losses - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 38,815
Provision for expected credit losses	8,292	$ 263
Write-offs	(4,808)
Other	159
Ending balance	$ 42,458

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
Contract liabilities	$ 147,314	$ 115,151
Contract assets	12,000	12,000
Prepaid expenses and other current assets / other assets, net
Revenue from External Customer [Line Items]
Contract assets, current	48,810	55,473
Accounts receivable, net
Revenue from External Customer [Line Items]
Contract assets, current	439,251	352,214
Other assets, net
Revenue from External Customer [Line Items]
Contract assets, noncurrent	$ 14,739	$ 16,129

Revenue from Contracts with Customers - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
Revenue recognized	$ 21,000,000
Contract with customer, performance obligation satisfied in previous period	0
Cancellation reserve	42,458,000	$ 38,815,000
Air Bookings
Revenue from External Customer [Line Items]
Cancellation reserve	$ 12,000,000	$ 11,000,000

Restructuring Activities (Tables)

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs


	Six Months Ended June 30, 2023
Balance as of January 1, 2023	$	—
Charges	55,648
Cash Payments	(21,691)
Balance as of June 30, 2023	$	33,957

Stock and Stockholders' Equity (Details)

3 Months Ended

6 Months Ended

12 Months Ended

Jul. 26, 2023

$ / shares

Aug. 24, 2020

USD ($)

day

dividendPeriod

director

$ / shares

Rate

Apr. 17, 2020

USD ($)

day

Jun. 30, 2023

USD ($)

Mar. 31, 2023

USD ($)

Jun. 30, 2022

USD ($)

Mar. 31, 2022

USD ($)

Jun. 30, 2023

USD ($)

Jun. 30, 2022

USD ($)

Dec. 31, 2021

Dec. 31, 2022

USD ($)

Feb. 28, 2017

USD ($)

Class of Stock [Line Items]

Preferred stock, shares outstanding (in shares) | shares

3,290,000

Accrued preferred stock dividends

^[1]

$ 5,347,000

$ 5,346,000

$ 5,347,000

$ 5,346,000

Dividends paid on preferred stock

5,000,000

$ 5,000,000

$ 10,693,000

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

Class of Stock [Line Items]

Number of consecutive trading days | day

Face value of debt instruments at the time of issuance

$ 345,000,000

Face value of outstanding debt

$ 333,220,000

333,220,000

$ 333,220,000

Common Stock

Class of Stock [Line Items]

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

595,240

6.50% Series A Mandatory Convertible Preferred Stock

Class of Stock [Line Items]

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

$ 11,000,000

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

Class of Stock [Line Items]

Conversion rate | Rate

1190.48%

Shares issued at conversion (in shares) | shares

39,000,000

6.50% Series A Mandatory Convertible Preferred Stock | Maximum

Class of Stock [Line Items]

Conversion rate | Rate

1428.57%

Shares issued at conversion (in shares) | shares

47,000,000

6.50% Series A Mandatory Convertible Preferred Stock | Subsequent Event

Class of Stock [Line Items]

Preferred dividend declared (in dollars per share) | $ / shares

$ 1.625

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

General Information (Policies)	6 Months Ended
General Information (Policies)	Jun. 30, 2023
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 six months ended June 30, 2023 are not necessarily indicative of results that may be expected for any other interim period or for the year ending December 31, 2023. 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 17, 2023. 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 17, 2023. 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 2020, the Financial Accounting Standards Board ("FASB") issued updated guidance which provides optional expedients and exceptions for applying U.S. GAAP to existing contracts, hedging relationships, and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued, if certain criteria are met. This standard is effective for all entities upon issuance and is optional through December 31, 2024. We elected the optional expedient in the second quarter of 2023 in connection with the SOFR Amendment (defined in Note 8. Debt below). In March 2022, the 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, which did not have a material impact on our consolidated financial statements.
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. As of June 30, 2023 and December 31, 2022, we had no unsettled forward contracts. 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.
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.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Assets 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 June 30, 2023 and December 31, 2022 (in thousands):


			Fair Value at Reporting Date Using
Assets:	June 30, 2023		Level 1		Level 2		Level 3
Derivatives(1)
Interest rate swap contracts	$	3,247	$	—	$	3,247	$	—
Investment in securities	58,277		58,277		—		—
Money market funds	356,911		356,911		—		—
Time deposits	205,974		—		205,974		—
Total	$	624,409	$	415,188	$	209,221	$	—


			Fair Value at Reporting Date Using
Assets:	December 31, 2022		Level 1		Level 2		Level 3
Derivatives(1)
Interest rate swap contracts	$	4,737	$	—	$	4,737	$	—
Investment in securities	54,303		54,303		—		—
Money market funds	153,252		153,252		—		—
Time deposits	444,835		—		444,835		—
Total	$	657,127	$	207,555	$	449,572	$	—

______________________

(1) See Note 9. Derivatives for further detail.

Schedule of Fair Value and Carrying Value of Debt

The following table presents the fair value and carrying value of our senior notes and borrowings under our senior secured credit facilities as of June 30, 2023 and December 31, 2022 (in thousands):


	Fair Value at				Carrying Value at (1)
Financial Instrument	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022

2021 Term Loan B-1	$	311,288	$	362,872	$	393,318	$	397,147
2021 Term Loan B-2	483,260		578,042		610,175		629,832
2022 Term Loan B-1	454,848		567,974		597,922		614,139
2022 Term Loan B-2	514,635		623,235		616,504		640,899






9.25% senior secured notes due 2025	97,798		774,128		104,901		775,000
7.375% senior secured notes due 2025	755,535		813,539		850,000		850,000
4.00% senior exchangeable notes due 2025	259,092		358,440		333,220		333,220
11.25% senior secured notes due 2027	469,558		572,058		545,554		544,770

______________________

(1)Excludes net unamortized debt issuance costs.

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 737,529	$ 657,532	$ 1,480,224	$ 1,242,442
Cost of revenue, excluding technology costs	316,370	274,245	623,412	497,279
Technology costs	284,279	277,172	555,717	550,902
Selling, general and administrative	179,063	176,308	343,491	343,986
Operating loss	(42,183)	(70,193)	(42,396)	(149,725)
Other (expense) income:
Interest expense, net	(106,134)	(66,884)	(205,918)	(127,942)
Gain (loss) on extinguishment of debt	12,543	0	12,543	(3,533)
Equity method income	459	186	882	16
Other, net	17,225	(43,937)	19,632	147,304
Total other (expense) income, net	(75,907)	(110,635)	(172,861)	15,845
Loss from continuing operations before income taxes	(118,090)	(180,828)	(215,257)	(133,880)
Provision for income taxes	5,909	5,390	8,108	4,794
Loss from continuing operations	(123,999)	(186,218)	(223,365)	(138,674)
Income (loss) from discontinued operations, net of tax	2	(284)	(401)	(150)
Net loss	(123,997)	(186,502)	(223,766)	(138,824)
Net (loss) income attributable to noncontrolling interests	(66)	885	(901)	1,157
Net loss attributable to Sabre Corporation	(123,931)	(187,387)	(222,865)	(139,981)
Preferred stock dividends	5,347	5,347	10,693	10,693
Net loss attributable to common stockholders	$ (129,278)	$ (192,734)	$ (233,558)	$ (150,674)
Basic net loss per share attributable to common stockholders:
Loss from continuing operations (in dollars per share)	$ (0.39)	$ (0.59)	$ (0.71)	$ (0.46)
Net loss per common share (in dollars per share)	(0.39)	(0.59)	(0.71)	(0.46)
Diluted net loss per share attributable to common stockholders:
Loss from continuing operations (in dollars per share)	(0.39)	(0.59)	(0.71)	(0.46)
Net loss per common share (in dollars per share)	$ (0.39)	$ (0.59)	$ (0.71)	$ (0.46)
Weighted-average common shares outstanding:
Basic (in shares)	332,147	326,573	330,547	325,124
Diluted (in shares)	332,147	326,573	330,547	325,124

Redeemable Noncontrolling Interest

6 Months Ended

Jun. 30, 2023

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

On February 1, 2023, Sabre sold common shares, representing a 19% interest in Conferma’s direct parent, to a third party for cash consideration of $16 million. In connection with the sale, we entered into a governing agreement which requires us under limited conditions to redeem the 19% interest, if requested, for the original purchase price of $16 million. We currently do not believe it is probable that the noncontrolling interest will become redeemable, given the remote likelihood of the applicable conditions being satisfied.

As the common shares are redeemable upon the occurrence of conditions not solely within our control, we recorded the noncontrolling interest as redeemable and classified it as temporary equity within our consolidated balance sheet initially at fair value. The noncontrolling interest is adjusted each reporting period for loss or income attributable to the noncontrolling interest. As of June 30, 2023, the redeemable noncontrolling interest is $15 million.

The following table presents the changes in redeemable noncontrolling interest of a consolidated subsidiary in temporary equity during the period ended June 30, 2023 (in thousands):


	Six Months Ended June 30, 2023
Proceeds from sale of redeemable noncontrolling interest	$	16,000
Net loss attributable to redeemable noncontrolling interest	(986)
Redeemable noncontrolling interest, end of period	$	15,014

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands		6 Months Ended
	Jun. 13, 2023	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Face value of total debt outstanding		$ 4,930,064	$ 4,839,126
Less current portion of debt outstanding		(4,040)	(23,480)
Face value of long-term debt outstanding		4,926,024	4,815,646
Term Loan \| 2021 Term Loan B-1
Debt Instrument [Line Items]
Face value of outstanding debt		$ 394,035	397,940
Term Loan \| 2021 Term Loan B-1 \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate		3.50%
Term Loan \| 2021 Term Loan B-2
Debt Instrument [Line Items]
Face value of outstanding debt		$ 614,151	634,340
Term Loan \| 2021 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		$ 603,447	620,313
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		$ 645,310	673,313
Term Loan \| 2022 Term Loan B-2 \| SOFR
Debt Instrument [Line Items]
Basis spread on rate		5.00%
Term Loan \| Senior Secured Term Loan Due 2028
Debt Instrument [Line Items]
Face value of outstanding debt		$ 700,000	0
Term Loan \| Senior Secured Term Loan Due 2028 \| Reference Rate
Debt Instrument [Line Items]
Basis spread on rate		1.75%
Term Loan \| Senior Secured Term Loan Due 2028 \| Reference Rate \| Interest Paid In Cash
Debt Instrument [Line Items]
Basis spread on rate	0.25%	0.25%
Term Loan \| Senior Secured Term Loan Due 2028 \| Reference Rate \| Interest Paid-In-Kind (PIK)
Debt Instrument [Line Items]
Basis spread on rate	1.75%	1.75%
Line of Credit
Debt Instrument [Line Items]
Face value of outstanding debt		$ 130,000	0
Line of Credit \| SOFR
Debt Instrument [Line Items]
Basis spread on rate		2.25%
Senior Secured Notes \| 9.25% senior secured notes due 2025
Debt Instrument [Line Items]
Face value of outstanding debt		$ 104,901	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%
Senior Secured Notes \| 11.25% senior secured notes due 2027
Debt Instrument [Line Items]
Face value of outstanding debt		$ 555,000	$ 555,000
Debt instrument interest rate percentage		11.25%

Derivatives - Schedule of Derivative Instruments Net of Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Amount of Gains (Losses) Recognized in OCI on Derivative, Effective Portion	$ 1,181	$ (18)	$ 885	$ (18)
Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion	(1,427)	244	(2,416)	244
Designated as Hedging Instrument \| Cash Flow Hedging
Derivative [Line Items]
Amount of Gains (Losses) Recognized in OCI on Derivative, Effective Portion			1,181	(18)
Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion	(1,427)	244	(2,416)	244
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest rate swaps
Derivative [Line Items]
Amount of Gains (Losses) Recognized in OCI on Derivative, Effective Portion	1,181		885	(18)
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	$ (1,427)	$ 244	$ (2,416)	$ 244

Contingencies (Details) - USD ($)	1 Months Ended							3 Months Ended		6 Months Ended
Contingencies (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	May 31, 2022	Apr. 30, 2022	Apr. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2023	Dec. 31, 2016	Jun. 30, 2023
VAT Tax Matters
Loss Contingencies [Line Items]
Accrual related to other taxes matters								$ 9,000,000		$ 9,000,000
US Airways Litigation
Loss Contingencies [Line Items]
Damages awarded					$ 15,000,000				$ 15,000,000
Litigation accrual							$ 32,000,000		32,000,000
Attorney fees and expenses									$ 17,000,000
US Airways Litigation \| Minimum
Loss Contingencies [Line Items]
Damages sought						$ 317,000,000
US Airways Litigation \| Maximum
Loss Contingencies [Line Items]
Damages sought						482,000,000
US Airways Litigation \| US Airways
Loss Contingencies [Line Items]
Damages sought						125,000,000
Damages awarded						$ 15,000,000	$ 5,000,000
US Airways Litigation, Retrial
Loss Contingencies [Line Items]
Damages paid		$ 3.05
US Airways Litigation, Retrial \| Minimum
Loss Contingencies [Line Items]
Damages sought				$ 204,000,000
US Airways Litigation, Retrial \| Maximum
Loss Contingencies [Line Items]
Damages sought				$ 299,000,000
US Airways Litigation, Retrial \| US Airways
Loss Contingencies [Line Items]
Damages sought	$ 139,000,000
Damages awarded		$ 3.00	$ 1.00
Indian Income Tax Litigation \| Foreign Tax Authority
Loss Contingencies [Line Items]
Interest and penalties related to income taxes										$ 21,000,000

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Accumulated Other Comprehensive Loss

As of June 30, 2023 and December 31, 2022, the components of accumulated other comprehensive loss, net of related deferred income taxes, are as follows (in thousands):


	June 30, 2023		December 31, 2022
Defined benefit pension and other postretirement benefit plans	$	(73,311)	$	(73,746)
Unrealized foreign currency translation gain	9,115		5,257
Unrealized gain on interest rate swaps	3,046		4,577
Share of other comprehensive loss of equity method investments	(2,157)		(1,819)

Total accumulated other comprehensive loss, net of tax	$	(63,307)	$	(65,731)

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 June 30, 2023, we have not contributed to our defined benefit pension plan in 2023. Based on current assumptions, we expect to make a contribution of up to $13 million in 2023 to our defined benefit pension plan. See Note 9. Derivatives, for information on the income statement line items affected as the result of reclassification adjustments associated with derivatives.

Accumulated Other Comprehensive Loss - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)
Equity [Abstract]
Contributions to defined benefit pension plan	$ 0
Expected contributions to defined benefit pension plan	$ 13,000,000

Restructuring Activities - Schedule of Accrued Liability (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2023		$ 0
Charges	$ 56,000	55,648
Cash Payments		(21,691)
Balance as of June 30, 2023	$ 33,957	$ 33,957

Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Assets and Liabilities with Customers

The following table presents our assets and liabilities with customers as of June 30, 2023 and December 31, 2022 (in thousands).


Account	Consolidated Balance Sheet Location	June 30, 2023		December 31, 2022
Contract assets and customer advances and discounts(1)	Prepaid expenses and other current assets / other assets, net	$	48,810	$	55,473
Trade and unbilled receivables, net	Accounts receivable, net	439,251		352,214
Long-term trade unbilled receivables, net	Other assets, net	14,739		16,129
Contract liabilities	Deferred revenues / other noncurrent liabilities	147,314		115,151

______________________

(1) Includes contract assets of $12 million for June 30, 2023 and December 31, 2022.

Schedule of Revenues Disaggregated by Business

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Distribution	$	530,405	$	431,538	$	1,056,291	$	774,426
IT Solutions	140,356		167,611		291,911		358,721
Total Travel Solutions	670,761		599,149		1,348,202		1,133,147
SynXis Software and Services	69,519		58,625		136,033		108,359
Other	7,152		7,579		14,450		13,849
Total Hospitality Solutions	76,671		66,204		150,483		122,208
Eliminations	(9,903)		(7,821)		(18,461)		(12,913)
Total Sabre Revenue	$	737,529	$	657,532	$	1,480,224	$	1,242,442

Redeemable Noncontrolling Interest - Schedule of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Noncontrolling Interest [Abstract]
Proceeds from sale of redeemable noncontrolling interest	$ 16,000	$ 0
Net loss attributable to redeemable noncontrolling interest	(986)
Redeemable noncontrolling interest, end of period	$ 15,014		$ 0

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the six months ended June 30, 2023, we recognized an $8 million income tax expense, representing an effective tax rate of less than 1%, compared to an income tax expense of $5 million, representing an effective tax rate of less than 1% for the six months ended June 30, 2022. The effective tax rate remained relatively flat for the six months ended June 30, 2023 as compared to the same period in 2022 primarily due to an increase in valuation allowance recorded in the current period and various discrete items recorded in each of the respective six 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 June 30, 2023, a cumulative valuation allowance of $515 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 $69 million and $76 million as of June 30, 2023 and December 31, 2022, respectively.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Restructuring Activities - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Charges	$ 56,000	$ 55,648
Expected costs associated with reduction plan	70,000	70,000
Cost of revenue, excluding technology costs
Restructuring Cost and Reserve [Line Items]
Charges	12,000	12,000
Technology costs
Restructuring Cost and Reserve [Line Items]
Charges	21,000	21,000
Selling, general and administrative costs
Restructuring Cost and Reserve [Line Items]
Charges	$ 23,000	$ 23,000

- Definition

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

+ References + Details

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Basic and Diluted 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Loss from continuing operations	$	(123,999)	$	(186,218)	$	(223,365)	$	(138,674)
Less: Net (loss) income attributable to noncontrolling interests	(66)		885		(901)		1,157
Less: Preferred stock dividends	5,347		5,347		10,693		10,693



Net loss from continuing operations available to common stockholders, diluted	$	(129,280)	$	(192,450)	$	(233,157)	$	(150,524)
Denominator:
Basic weighted-average common shares outstanding	332,147		326,573		330,547		325,124



Diluted weighted-average common shares outstanding	332,147		326,573		330,547		325,124
Loss per share from continuing operations:
Basic	$	(0.39)	$	(0.59)	$	(0.71)	$	(0.46)
Diluted	$	(0.39)	$	(0.59)	$	(0.71)	$	(0.46)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT (Parenthetical)		3 Months Ended
	Aug. 24, 2020	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022
6.50% Series A Mandatory Convertible Preferred Stock
Annual percentage rate	6.50%	6.50%	6.50%	6.50%

Stock and Stockholders' Equity	6 Months Ended
Stock and Stockholders' Equity	Jun. 30, 2023
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 $11 million of accrued preferred stock dividends in our consolidated results of operations for the three and six months ended June 30, 2023 and 2022, respectively. During the three and six months ended June 30, 2023 and 2022, we paid cash dividends on our preferred stock of $5 million and $11 million, respectively. On July 26, 2023, the Board of Directors declared a dividend of $1.625 per share on Preferred Stock payable on September 1, 2023 to holders of record of the Preferred Stock on August 15, 2023. 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 six months ended June 30, 2023, 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 June 30, 2023. 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. As of June 30, 2023, we have $333 million aggregate principal amount of Exchangeable Notes outstanding. See Note 8. Debt for further details. We expect to settle the principal amount of the outstanding Exchangeable Notes in shares of our common stock.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss, Net of Deferred Income Taxes

As of June 30, 2023 and December 31, 2022, the components of accumulated other comprehensive loss, net of related deferred income taxes, are as follows (in thousands):


	June 30, 2023		December 31, 2022
Defined benefit pension and other postretirement benefit plans	$	(73,311)	$	(73,746)
Unrealized foreign currency translation gain	9,115		5,257
Unrealized gain on interest rate swaps	3,046		4,577
Share of other comprehensive loss of equity method investments	(2,157)		(1,819)

Total accumulated other comprehensive loss, net of tax	$	(63,307)	$	(65,731)

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents (in shares)	9	4	6	2
Stock Options and Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents (in shares)	1	3	2	3
Convertible Debt Securities \| Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents (in shares)	47	39	47	39
Convertible Debt Securities \| 4.00% senior exchangeable notes due 2025 \| Senior Secured Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock equivalents (in shares)	42	42	42	42

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

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.

Money market funds—Our valuation technique used to measure the fair values of our money market funds was derived from quoted market prices and active markets for these instruments that exist.

Time deposits—Our valuation technique used to measure the fair values of our time deposit instruments was derived from the following: non-binding market consensus prices that were corroborated by observable market data and quoted market prices for similar instruments.

Investment in securities—In May 2022, we acquired 8 million shares of Class A Common Stock, par value of $0.0001 per share, of Global Business Travel Group, Inc. ("GBT") for an aggregate purchase price of $80 million, which is included in prepaid expenses and other current assets in our consolidated balance sheets. As of June 30, 2023, 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 June 30, 2023 and December 31, 2022 (in thousands):


			Fair Value at Reporting Date Using
Assets:	June 30, 2023		Level 1		Level 2		Level 3
Derivatives(1)
Interest rate swap contracts	$	3,247	$	—	$	3,247	$	—
Investment in securities	58,277		58,277		—		—
Money market funds	356,911		356,911		—		—
Time deposits	205,974		—		205,974		—
Total	$	624,409	$	415,188	$	209,221	$	—


			Fair Value at Reporting Date Using
Assets:	December 31, 2022		Level 1		Level 2		Level 3
Derivatives(1)
Interest rate swap contracts	$	4,737	$	—	$	4,737	$	—
Investment in securities	54,303		54,303		—		—
Money market funds	153,252		153,252		—		—
Time deposits	444,835		—		444,835		—
Total	$	657,127	$	207,555	$	449,572	$	—

______________________

(1) See Note 9. Derivatives for further detail.

There were no transfers between Levels 1 and 2 within the fair value hierarchy for the three and six months ended June 30, 2023.

Unrealized gains recognized during the three and six months ended June 30, 2023 from our investments in securities totaled $5 million and $4 million, respectively, which is recorded to Other, net within our results of operations.

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 outstanding principal balances of our AR Facility, and our Senior Secured Term Loan Due 2028, approximated their fair values as of June 30, 2023.

The following table presents the fair value and carrying value of our senior notes and borrowings under our senior secured credit facilities as of June 30, 2023 and December 31, 2022 (in thousands):


	Fair Value at				Carrying Value at (1)
Financial Instrument	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022

2021 Term Loan B-1	$	311,288	$	362,872	$	393,318	$	397,147
2021 Term Loan B-2	483,260		578,042		610,175		629,832
2022 Term Loan B-1	454,848		567,974		597,922		614,139
2022 Term Loan B-2	514,635		623,235		616,504		640,899






9.25% senior secured notes due 2025	97,798		774,128		104,901		775,000
7.375% senior secured notes due 2025	755,535		813,539		850,000		850,000
4.00% senior exchangeable notes due 2025	259,092		358,440		333,220		333,220
11.25% senior secured notes due 2027	469,558		572,058		545,554		544,770

______________________

(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 six months ended June 30, 2023. 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.

- Definition

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

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 706,148	$ 794,888
Restricted cash	21,036	21,035
Accounts receivable, net of allowance for credit losses of $42,458 and $38,815	441,214	353,587
Prepaid expenses and other current assets	177,365	191,979
Total current assets	1,345,763	1,361,489
Property and equipment, net of accumulated depreciation of $1,896,352 and $1,939,215	234,166	229,419
Equity method investments	21,466	22,401
Goodwill	2,558,422	2,542,087
Deferred income taxes	36,292	38,892
Other assets, net	337,267	358,333
Total assets	4,924,561	4,962,875
Current liabilities
Accounts payable	216,601	171,068
Accrued compensation and related benefits	125,692	122,022
Accrued subscriber incentives	243,480	218,761
Deferred revenues	84,961	66,503
Other accrued liabilities	224,537	213,737
Current portion of debt	4,040	23,480
Total current liabilities	899,311	815,571
Deferred income taxes	27,558	38,629
Other noncurrent liabilities	268,780	264,411
Long-term debt	4,797,554	4,717,091
Commitments and contingencies (Note 13)
Redeemable noncontrolling interests	15,014	0
Stockholders’ deficit
Preferred stock, $0.01 par value, 225,000 authorized, 3,290 issued and outstanding as of June 30, 2023 and December 31, 2022; aggregate liquidation value of $329,000 as of June 30, 2023 and December 31, 2022	33	33
Common Stock: $0.01 par value; 1,000,000 authorized shares; 358,563 and 353,436 shares issued, 332,297 and 328,542 shares outstanding at June 30, 2023 and December 31, 2022, respectively	3,586	3,534
Additional paid-in capital	3,224,318	3,198,580
Treasury Stock, at cost, 26,267 and 24,895 shares at June 30, 2023 and December 31, 2022, respectively	(519,765)	(514,215)
Accumulated deficit	(3,740,086)	(3,506,528)
Accumulated other comprehensive loss	(63,307)	(65,731)
Noncontrolling interest	11,565	11,500
Total stockholders’ deficit	(1,083,656)	(872,827)
Total liabilities and stockholders’ deficit	4,924,561	4,962,875
Customer relationships
Current assets
Finite lived intangible assets, net	226,735	238,756
Other Intangible Assets
Current assets
Finite lived intangible assets, net	$ 164,450	$ 171,498

Segment Information - Schedule of Adjustment Operating Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting [Abstract]
Operating loss	$ (42,183)	$ (70,193)	$ (42,396)	$ (149,725)
Add back:
Equity method income	459	186	882	16
Acquisition-related amortization	9,934	15,448	19,867	31,251
Restructuring and other costs	59,372	4,336	59,053	4,336
Acquisition-related costs	541	2,245	1,388	5,909
Litigation costs, net	9,234	12,539	9,234	16,014
Stock-based compensation	8,738	26,127	25,743	53,732
Adjusted Operating Income (Loss)	$ 46,095	$ (9,312)	$ 73,771	$ (38,467)

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (123,931)	$ (187,387)	$ (222,865)	$ (139,981)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2023	Jul. 28, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity Registrant Name	Sabre Corporation
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36422
Entity Tax Identification Number	20-8647322
Entity Address, Address Line One	3150 Sabre Drive
Entity Address, City or Town	Southlake
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76092
City Area Code	682
Local Phone Number	605-1000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		332,331,647
Entity Central Index Key	0001597033
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	SABR
Security Exchange Name	NASDAQ
Series A Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	6.50% Series A Mandatory Convertible Preferred Stock
Trading Symbol	SABRP
Security Exchange Name	NASDAQ

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (123,997)	$ (186,502)	$ (223,766)	$ (138,824)
Other comprehensive income, net of tax:
Foreign currency translation adjustments ("CTA")	2,282	0	3,857	(1,287)
Retirement-related benefit plans:
Net actuarial gain, net of taxes of $—, $—, $—, $—	0	0	0	1,671
Amortization of prior service credits, net of taxes of $—, $—, $—, $—	(358)	(358)	(716)	(716)
Amortization of actuarial losses, net of taxes of $—, $—, $—, $—	(470)	2,210	1,151	3,993
Net change in retirement-related benefit plans, net of tax	(828)	1,852	435	4,948
Derivatives:
Unrealized gains (losses), net of taxes of $—, $—, $—, $—	1,181	(18)	885	(18)
Reclassification adjustment for realized (gains) losses, net of taxes of $—, $—, $—, $—	(1,427)	244	(2,416)	244
Net change in derivatives, net of tax	(246)	226	(1,531)	226
Share of other comprehensive (loss) income of equity method investments	(36)	(200)	(338)	455
Other comprehensive income	1,172	1,878	2,423	4,342
Comprehensive loss	(122,825)	(184,624)	(221,343)	(134,482)
Less: Comprehensive loss (income) attributable to noncontrolling interests	66	(885)	901	(1,157)
Comprehensive loss attributable to Sabre Corporation	$ (122,759)	$ (185,509)	$ (220,442)	$ (135,639)

Derivatives (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Swaps

Interest rate swaps outstanding during the six months ended June 30, 2023 and 2022, 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%(2)

April 30, 2022

December 31, 2023

$150 million

1 month SOFR(1)

2.79%(3)

June 30, 2022

December 31, 2023

$250 million

1 month SOFR(1)

4.72%

June 30, 2023

June 30, 2026

$250 million

1 month SOFR(1)

3.88%

December 31, 2023

December 31, 2024

______________________

(1) Subject to a 0.5% floor.

(2) 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.

(3) 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 June 30, 2023 and December 31, 2022 are as follows (in thousands):


	Derivative Assets
		Fair Value as of
Derivatives Designated as Hedging Instruments	Consolidated Balance Sheet Location	June 30, 2023		December 31, 2022




Interest rate swaps	Prepaid expenses and other current assets	$	3,374	$	4,905

Interest rate swaps	Other noncurrent liabilities	(127)		(168)
Total		$	3,247	$	4,737

Schedule of Derivative Instruments, Net of Taxes

The effects of derivative instruments, net of taxes, on OCI for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands):


	Amount of Gains (Losses) Recognized in OCI on Derivative, Effective Portion
Derivatives in Cash Flow Hedging Relationships		Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022

Interest rate swaps		$	1,181	$	(18)	$	885	$	(18)
Total		$	1,181	$	(18)	$	885	$	(18)


		Amount of (Gains) Losses Reclassified from Accumulated OCI into Income, Effective Portion
Derivatives in Cash Flow Hedging Relationships	Income Statement Location	Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022

Interest rate swaps	Interest expense, net	$	(1,427)	$	244	$	(2,416)	$	244
Total		$	(1,427)	$	244	$	(2,416)	$	244

Credit Losses - Narrative (Details) $ in Millions	6 Months Ended
Credit Losses - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)
Credit Loss [Abstract]
Increase in allowance for credit losses	$ 8

Derivatives - Schedule of Interest Rate Swaps (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 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%
Designated as Hedging Instrument \| 1.71% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount	$ 200
Interest Rate Paid	1.71%	3.09%		1.71%
Designated as Hedging Instrument \| 2.79% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount	$ 150
Interest Rate Paid	2.79%	3.98%	2.79%
Designated as Hedging Instrument \| 4.72% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount	$ 250
Interest Rate Paid	4.72%
Designated as Hedging Instrument \| 3.88% Interest Rate Swap Outstanding
Derivative [Line Items]
Notional Amount	$ 250
Interest Rate Paid	3.88%

Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

As of June 30, 2023 and December 31, 2022, our outstanding debt included in our consolidated balance sheets totaled $4,802 million and $4,741 million, respectively, which are net of debt issuance costs of $57 million and $44 million, respectively, and unamortized discounts of $71 million and $54 million, respectively. The following table sets forth the face values of our outstanding debt as of June 30, 2023 and December 31, 2022 (in thousands):


	Rate	Maturity	June 30, 2023		December 31, 2022
Senior secured credit facilities:


2021 Term Loan B-1	S(1) + 3.50%	December 2027	$	394,035	$	397,940
2021 Term Loan B-2	S(1) + 3.50%	December 2027	614,151		634,340



2022 Term Loan B-1	S(1) + 4.25%	June 2028	603,447		620,313
2022 Term Loan B-2	S(1) + 5.00%	June 2028	645,310		673,313
Senior Secured Term Loan Due 2028	RR(3) + 1.75%(4)	December 2028	700,000		—
AR Facility(2)	S(1) + 2.25%	January 2025	130,000		—
9.25% senior secured notes due 2025	9.25%	April 2025	104,901		775,000
7.375% senior secured notes due 2025	7.375%	September 2025	850,000		850,000
4.00% senior exchangeable notes due 2025	4.00%	April 2025	333,220		333,220
11.25% senior secured notes due 2027	11.25%	December 2027	555,000		555,000
Face value of total debt outstanding			4,930,064		4,839,126
Less current portion of debt outstanding			(4,040)		(23,480)
Face value of long-term debt outstanding			$	4,926,024	$	4,815,646

______________________

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

(2)The AR Facility (as defined below) is subject to certain "springing" maturity conditions; the maturity may extend to February 2026 at the latest.

(3)Represents the Reference Rate as defined below.

(4)At our election, if interest is paid in cash the spread is 0.25% per annum, and in the case of interest paid in kind the spread is 1.75%.

We had outstanding letters of credit totaling $13 million and $12 million as of June 30, 2023 and December 31, 2022, respectively, which were secured by a $21 million cash collateral deposit account.

Senior Secured Credit Facilities

On May 16, 2023, Sabre GLBL entered into Amendment No. 5 to the Credit Agreement (the “SOFR Amendment”). The SOFR Amendment was entered into pursuant to the Amended and Restated Credit Agreement, dated as of February 19, 2013. The SOFR Amendment provides for the replacement of LIBOR-based rates with a SOFR-based rate for the 2021 Term Loan B-1 and 2021 Term Loan B-2 and amends certain provisions of the Credit Agreement. The change from LIBOR to SOFR is due to the reference rate reform and the phasing out of LIBOR as a loan benchmark. The SOFR Amendment did not have a material impact on our financial position or results of operations.

Refinancing Transactions

On March 9, 2022, we entered into an amendment to refinance another portion of our then-outstanding Term Loan B facility (the "March 2022 Refinancing"). Our Senior Secured Credit Facility is governed by the Amended and Restated Credit Agreement including the Sixth Term A Loan Refinancing and Incremental Amendments entered into in December 2020 and all preceding amendments. 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 six months ended June 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 year ended December 31, 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.

On December 6, 2022, we used the proceeds of the December 2027 Notes issuance to redeem the remaining principal balance on the Term Loan B of $536 million, plus $1 million of accrued interest (the “December 2022 Refinancing”). We recognized a loss on extinguishment of debt of $1 million during the year ended December 31, 2022 in connection the December 2022 Refinancing, which consisted of the write-off of unamortized debt issuance costs and discount of $1 million.

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 June 30, 2023, we are in compliance with all covenants under the terms of the Amended and Restated Credit Agreement.

Senior Secured Term Loan Due 2028

On June 13, 2023, Sabre Financial Borrower, LLC (“Sabre FB”), our indirect, consolidated subsidiary entered into a series of transactions including a new term loan credit agreement with certain lenders (the "2023 Term Loan Agreement") and an intercompany secured term loan agreement (the "Pari Passu Loan Agreement").

The 2023 Term Loan Agreement provides for a senior secured term loan (the “Senior Secured Term Loan Due 2028”) of up to $700 million in aggregate principal amount, subject to Sabre FB using the proceeds from the Senior Secured Term Loan Due 2028 for an intercompany loan to Sabre GLBL. On June 13, 2023, Sabre FB borrowed the full $700 million amount under the 2023 Term Loan Agreement and lent the funds to Sabre GLBL under the Pari Passu Loan Agreement. Borrowings under 2023 Term Loan Agreement are secured by the assets of Sabre FB, including Sabre FB's claims under the Pari Passu Loan Agreement, and assets of certain of our foreign subsidiaries. Borrowings under the Pari Passu Loan Agreement are secured by first-priority liens on the same collateral securing the indebtedness owing under the Senior Secured Credit Facilities and Sabre GLBL's outstanding Senior Secured Notes. Sabre GLBL used the proceeds borrowed under the Pari Passu Loan Agreement to repurchase $650 million of its outstanding 9.25% Senior Secured Notes due 2025 (the “June 2023 Refinancing”) and $15 million of its outstanding 2021 Term Loan B-1, 2021 Term Loan B-2 and 2022 Term Loan B-2. The remaining proceeds, net of a discount of $23 million, were used to pay $13 million in other fees and expenses. We incurred additional fees of $13 million, plus $10 million of accrued and unpaid interest on the 9.25% Senior Secured Notes, which were funded with cash on hand. We recognized a net gain on extinguishment of debt in connection with the June 2023 Refinancing during the six months ended June 30, 2023 of $14 million. As of June 30, 2023, we are in compliance with the covenants under the 2023 Term Loan Agreement and the Pari Passu Loan Agreement.

The Senior Secured Term Loan Due 2028 matures on December 15, 2028 and offers us the ability to prepay subject to prepayment premiums as follows (i) with respect to any prepayment occurring on or prior to the second anniversary of the 2023 Term Loan Agreement, a customary make-whole amount, and (ii) with respect to any prepayment occurring after the second anniversary of the 2023 Term Loan Agreement and on or prior the third anniversary of the 2023 Term Loan Agreement, 25% of the applicable interest margin assuming all interest is payable in kind. After the third anniversary of the 2023 Term Loan Agreement, all prepayments can be made at par plus accrued interest.

The interest on the Senior Secured Term Loan Due 2028 is payable in cash; provided that, at our election, from the date of the agreement, until the last interest payment date occurring on or prior to December 31, 2025, the interest may be payable in kind. The Senior Secured Term Loan Due 2028 bears interest at a floating rate, with interest periods ending on each successive three month anniversary of the closing date and set in arrears based on the average of the highest yield to maturity of any tranche of Sabre GLBL’s or any of its affiliates’ outstanding secured indebtedness (as defined within the 2023 Term Loan Agreement) on each of the 20 prior trading days (the “Reference Rate”), plus (i) 25 basis points for cash interest or (ii) 175 basis points for payable-in-kind interest, with the Reference Rate for the first interest period deemed to be 13.00% per annum. The all-in interest rate floor is 11.50% for cash interest and 13.00% for payable-in-kind interest and the all-in interest rate ceiling is 17.50% for cash interest and 19.00% for payable-in-kind interest. We have currently elected interest to be payable in kind.

Sabre FB’s obligations under the Senior Secured Term Loan Due 2028 are required to be guaranteed by certain of our existing and future foreign subsidiaries (the "Foreign Guarantors”). The 2023 Term Loan Agreement requires that we maintain

cash balances of at least $100 million in certain foreign subsidiaries and other covenants to ensure collateral of the applicable Foreign Guarantors meet certain minimum levels. The 2023 Term Loan Agreement also includes various non-financial covenants, including restrictions on making certain investments, disposition activities and affiliate transactions. In addition, the 2023 Term Loan Agreement contains customary prepayment events and financial and negative covenants and other representations, covenants and events of default based on, but in certain instances more restrictive than, the Amended and Restated Credit Agreement. As of June 30, 2023, we were in compliance with all covenants under the terms of the 2023 Term Loan Agreement.

Senior Secured Notes

On December 6, 2022, Sabre GLBL entered into a new debt agreement consisting of $555 million aggregate principal amount of 11.250% senior secured notes due 2027 (the “December 2027 Notes”). The December 2027 Notes were issued at a discount of 1.866%. The December 2027 Notes are jointly and severally, irrevocably and unconditionally guaranteed by Sabre Holdings and all of Sabre GLBL’s restricted subsidiaries that guarantee Sabre GLBL’s credit facility. The December 2027 Notes bear interest at a rate of 11.250% per annum and interest payments are due semi-annually in arrears on June 15 and December 15 of each year, beginning June 15, 2023. The December 2027 Notes mature on December 15, 2027. The net proceeds of $545 million received from the sale of the December 2027 Notes, net of a discount of $10 million, were used to repay approximately $536 million principal amount of debt under the Term Loan B, plus $1 million of accrued interest. The remaining proceeds of $8 million, plus cash on hand, were used to pay $10 million in underwriting fees and commissions, and other expenses.

AR Facility

On February 14, 2023, Sabre Securitization, LLC, our indirect, consolidated subsidiary and a special purpose entity (“Sabre Securitization”), entered into a three-year committed accounts receivable securitization facility (the “AR Facility”) of up to $200 million with PNC Bank, N.A. On March 30, 2023, we borrowed $115 million under the AR Facility. As of June 30, 2023, we had $130 million outstanding under the AR Facility. These proceeds are being used for general corporate purposes.

The amount available for borrowings at any one time under the AR Facility is limited to a borrowing base calculated based on the outstanding balance of eligible receivables, subject to certain reserves. Borrowings under the AR Facility bear interest at a rate equal to SOFR, subject to a 0% floor, plus a drawn fee, initially in the amount of 2.25%. The drawn fee varies based on our leverage, and Sabre Securitization also pays a fee on the undrawn committed amount of the AR Facility. Interest and fees payable by Sabre Securitization under the AR Facility are due monthly. Net debt issuance costs related to our AR Facility are $2 million and are recorded in other assets, net in our consolidated financial statements.

The AR Facility is scheduled to terminate on February 13, 2026, unless extended in accordance with its terms. The AR Facility is subject to a springing maturity date of January 2025 should certain events occur in relation to material indebtedness (as defined in the AR Facility) of ours, Sabre Securitization and certain other subsidiaries.

In connection with the AR Facility, certain of our subsidiaries (the “Originators”) have sold and contributed, and will continue to sell or contribute, substantially all of their accounts receivable and certain related assets (collectively, the "Receivables") to Sabre Securitization to be held as collateral for borrowings under the AR Facility. Sabre Securitization’s assets are not available to satisfy the obligations of Sabre Corporation or any of its affiliates. Under the terms of the AR Facility, the lenders under the AR Facility would have a senior priority claim to the assets of Sabre Securitization, which will primarily consist of the Receivables of the Originators participating in the AR Facility. As of June 30, 2023, $471 million of Receivables are held as assets by Sabre Securitization, consisting of $456 million of accounts receivable and $15 million of other assets, net in our consolidated balance sheet.

The AR Facility is accounted for as a secured borrowing on a consolidated basis, rather than a sale of assets; as a result, (i) Receivables balances pledged as collateral are presented as assets and the borrowings are presented as liabilities on our consolidated balance sheets, (ii) our consolidated statements of operations reflect the associated charges for bad debt expense (a component of general and administrative expenses) related to the pledged Receivables and interest expense associated with the AR Facility and (iii) receipts from customers related to the underlying Receivables are reflected as operating cash flows and borrowings and repayments under the AR Facility are reflected as financing cash flows within our consolidated statements of cash flows. The receivables and other assets of Sabre Securitization are not available to satisfy creditors of any entity other than Sabre Securitization.

The AR Facility contains certain customary representations, warranties, affirmative covenants, and negative covenants, subject to certain cure periods in some cases, including the eligibility of the Receivables being sold by the Originators and securing the loans made by the lenders, as well as customary reserve requirements, events of default, termination events, and servicer defaults. As of June 30, 2023, we were in compliance with and expect to be in compliance with the financial covenants of the AR Facility for at least the next twelve months.

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 June 30, 2023, 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 June 30, 2023, 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 June 30, 2023 and December 31, 2022, (in thousands):


	June 30, 2023		December 31, 2022
Principal	$	333,220	$	333,220

Less: Unamortized debt issuance costs	4,463		5,642
Net carrying value	$	328,757	$	327,578

The following table sets forth interest expense recognized related to the Exchangeable Notes for the three and six months ended June 30, 2023 and 2022 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Contractual interest expense	$	3,332	$	3,332	$	6,664	$	6,664
Amortization of issuance costs	593		565		1,179		1,124

- Definition

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

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details