Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 86

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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s and severance cost accruals in the prior year associated with the cost reduction plan we implemented in prior periods.

Interest expense, net Three Months Ended March 31, 20252024Change (Amounts in thousands)  Interest expense, net$(129,353)$(124,747)$(4,606)4 %                    

Interest expense increased $5 million, or 4%, during the three months ended March 31, 2025 compared to the same period in the prior year primarily due to higher interest incurred in connection with our debt. See Note 6. Debt for further details.

Loss on extinguishment of debt

We recognized a loss on extinguishment of debt of $38 million for the three months ended March 31, 2024 as a result of the financing activity that occurred in the first quarter of 2024. See Note 6. Debt for further details. 

Other, net Three Months Ended March 31,   20252024Change (Amounts in thousands)  Other, net$3,776 $(4,477)$8,253 (184)%

31

Other, net increased $8 million for the three months ended March 31, 2025 compared to the same period in the prior year primarily due to a gain on the sale of assets of $5 million recognized in the current year period and a fair value loss from our investments in securities of $3 million recognized in the prior year period. See Note 8. Fair Value Measurements for further details regarding our investments in securities.

(Benefit) provision for Income Taxes

 Three Months Ended March 31,  20252024Change (Amounts in thousands)  (Benefit) provision for income taxes$(57,062)$2,932 $(59,994)(2,046)%

For the three months ended March 31, 2025, we recognized $57 million of income tax benefit, representing an effective tax rate of 265%, compared to an income tax expense of $3 million, representing an effective tax rate of less than 1% for the three months ended March 31, 2024. The effective tax rate for the three months ended March 31, 2025 represents the rate expected for the year applied to year to date earnings before tax and the impact of certain discrete items in the quarter. The effective tax rate is impacted by an increase in the valuation allowance due primarily to interest expense