Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 900

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 900
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 that occurred in the fourth quarter of 2024, a $16 million increase primarily due to other non-operating gains recognized in the prior year and a $4 million increase due to realized and unrealized foreign currency exchange losses in the current period. This increase is partially offset by changes in realized and unrealized gains and losses from our investments in securities from a loss of $2 million in the prior year period to a 

35

gain of $3 million in the current year period. See Note 12. Fair Value Measurements for further details regarding our investments in securities and Note 10. Debt for further details regarding debt transactions.

(Benefit) provision for Income Taxes

 Year Ended December 31,   20242023Change (Amounts in thousands)  (Benefit) provision for income taxes$(1,777)$34,729 $(36,506)(105)%

For the year ended December 31, 2024, we recognized $2 million of income tax benefit, representing an effective tax rate of less than 1%, compared to an income tax expense of $35 million, also representing an effective tax rate of less than 1% for the year ended December 31, 2023. The effective tax rate decreased for the year ended December 31, 2024, as compared to the prior year primarily due to a decrease in valuation allowance recorded in the current period and various discrete items recorded in each of the respective years. The difference between our effective tax rates and the U.S. federal statutory income tax rate primarily results from valuation allowances, our geographic mix of taxable income in various tax jurisdictions, tax permanent differences and tax credits.

Years Ended December 31, 2023 and 2022 

Revenue

 Year Ended December 31, 20232022Change (Amounts in thousands)  Travel Solutions$2,642,077 $2,311,275 $330,802 14 %Hospitality Solutions304,169 254,620 49,549 19 %Total segment revenue2,946,246 2,565,895 380,351 15 %Eliminations(38,508)(28,880)(9,628)33 %Total revenue$2,907,738 $2,537,015 $370,723 15 %

Travel Solutions—Revenue increased $331 million, or 14%, for the year ended December 31, 2023 compared