Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 61

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 61
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 $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 periods through June 2026. In January 2024, we entered into an interest rate swap to hedge interest payments associated with $250 million of the floating rate 2022 Term Loan B-1 related to the years 2024 and 2025. We designated these swaps as cash flow hedges. For the year ended 

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December 31, 2024, we recognized a cash flow benefit of $7 million related to our interest rate swaps, which is reported as cash provided by operating activities within our consolidated statements of cash flows. As of December 31, 2024, we estimate that $2 million in losses will be reclassified from other comprehensive (loss) income to earnings over the next 12 months.The estimated fair values of our derivatives designated as hedging instruments as of December 31, 2024 and 2023 are as follows (in thousands): Derivative (Liabilities) Assets  Fair Value as of December 31,Derivatives Designated as Hedging InstrumentsConsolidated Balance Sheet Location20242023Interest rate swapsPrepaid expenses and other current assets$— $2,413 Interest rate swapsOther accrued liabilities(1,593)— Interest rate swapsOther noncurrent liabilities(673)(4,129)Total $(2,266)$(1,716)The effects of derivative instruments, net of taxes, on OCI for the years ended December 31, 2024, 2023 and 2022 are as follows (in thousands): Amount of Gains (Losses)Recognized in OCI on Derivative, Effective Portion Year Ended December 31,Derivatives in Cash Flow Hedging Relationships202420232