Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 819

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 819
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6 Exchangeable Notes2025 Exchangeable Notes2026 Exchangeable NotesPrincipal$183,220 $150,000 $333,220 $— Less: Unamortized debt issuance costs414 3,311 3,256 — Net carrying value$182,806 $146,689 $329,964 $— The following table sets forth interest expense recognized related to the Exchangeable Notes for years ended December 31, 2024 and 2023 (in thousands): Year Ended December 31, 2024Year Ended December 31, 20232025 Exchangeable Notes2026 Exchangeable Notes2025 Exchangeable Notes2026 Exchangeable NotesContractual interest expense$8,629 $8,601 $13,329 $— Amortization of issuance costs1,616 1,475 2,386 — 

81

Aggregate MaturitiesAs of December 31, 2024, aggregate maturities of our long-term debt were as follows (in thousands): AmountYears Ending December 31, 2025$230,704 2026173,611 20271,592,034 20281,655,857 20291,568,714 Total$5,220,920 

11. Derivatives 

Hedging Objectives—We are exposed to certain risks relating to ongoing business operations. The primary risk managed by using derivative instruments is interest rate risk. 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 interest rate swaps as cash flow hedges of floating-rate borrowings.Cash Flow Hedging Strategy—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 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