Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 325

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part II, Item 7
Chunk 325
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 restricted cash$(73,350)$(19,070)

Operating Activities

Cash used in operating activities totaled $81 million for the three months ended March 31, 2025. The $13 million decrease in operating cash flow from the same period in the prior year was primarily due to a decrease in revenue from a decline in volume and impacts of customer de-migrations and a contribution of $10 million to our defined benefit pension plan,  partially offset by a $3 million decrease in interest payments in connection with our debt.

Investing Activities

For the three months ended March 31, 2025, we used $18 million of cash for capital expenditures primarily related to software developed for internal use, partially offset by the proceeds received from the sale of assets of $10 million.

For the three months ended March 31, 2024, we used $28 million of cash for capital expenditures primarily related to software developed for internal use and acquired software licenses associated with our internal billing systems.

36

Financing Activities

For the three months ended March 31, 2025, financing activities provided $13 million. Significant highlights of our financing activities include:

•net proceeds of $19 million on borrowings on our AR Facility; 

•payments of $3 million on our 2021 Term Loan B-1, 2024 Term Loan B-1 and 2024 Term Loan B-2; and

•net payments of $2 million from the settlement of employee stock awards.

For the three months ended March 31, 2024, financing activities provided $78 million. Significant highlights of our financing activities include:

•proceeds of $150 million from the issuance of the 2026 Exchangeable Notes;

•payment of $150 million on our 2025 Exchangeable Notes;

•proceeds of $120 million from the issuance of the FILO Facility;

•proceeds of $50 million from the issuance of our June 2027 Notes;

•payment of $49 million for debt discount and issuance costs;

•payment of $36 million on our September 2025 Notes and $7 million on our April 2025 Notes;

•net proceeds of $2 million from borrowings on our AR Facility; and

•net payments of $2 million from the settlement of employee stock awards.

Contractual Obligations

There were no material changes to our future minimum contractual obligations since December 31, 2024, as previously disclosed