Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 43

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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. 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 5. Credit Losses. Revenue The following table presents our revenues disaggregated by business (in thousands):Three Months Ended March 31,20252024Distribution$569,115 $572,258 IT Solutions133,011 141,375 Total Travel Solutions702,126 713,633 SynXis Software and Services77,389 72,317 Other7,820 6,502 Total Hospitality Solutions85,209 78,819 Total Segment Revenue787,335 792,452 Eliminations(10,718)(9,566)Total Sabre Revenue$776,617 $782,886 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 three months ended March 31, 2025, the impact on revenue recognized in the current period from performance obligations partially or fully satisfied in the previous period is immaterial.Our air booking cancellation reserve totaled $15 million and $11 million as of March 31, 2025, and December 31, 2024, 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. 

3. Redeemable Noncontrolling Interest 

On February 1, 2023, we sold common shares of a subsidiary, representing a 19% interest in Conferma Limited's (“Conferma”) 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