Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 414

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1A
Chunk 414
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rolling interest is adjusted each reporting period for loss or income attributable to the noncontrolling interest. As of December 31, 2024 and 2023, the redeemable noncontrolling interest was $13 million and $14 million, respectively.The following table presents the changes in redeemable noncontrolling interest of a consolidated subsidiary in temporary equity during the year ended December 31, 2024 (in thousands):Year Ended December 31,20242023Redeemable noncontrolling interest, beginning of period$14,375 $— Proceeds from sale of redeemable noncontrolling interest— 16,000 Net loss attributable to redeemable noncontrolling interest(1,447)(1,625)Redeemable noncontrolling interest, end of period$12,928 $14,375 

5. 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. We do not expect additional restructuring charges associated with these activities to be significant as all activities associated with this plan are substantially complete as of December 31, 2024.Since the second quarter of 2023, we have incurred costs of $83 million in connection with this business plan. These restructuring costs are comprised of $77 million that has been or will be paid in cash for severance and related benefits costs and $6 million paid related to other restructuring costs. During the twelve months ended December 31, 2024, we recorded $19 million in additional severance and related benefits costs, of which $1 million is recorded within cost of revenue, excluding technology costs, $13 million is recorded within technology costs and $5 million is recorded within selling, general and administrative costs within our consolidated statement of operations. The majority of these additional costs is expected to be paid by the end of the first quarter of 2025. We also recorded a $10 million adjustment to the accrued liability for estimated amounts that are no longer expected to be paid. The following table summarizes the accrued liability for 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):Year Ended December 31, 2024Year Ended December