Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions The following summaries relate to certain related party transactions entered into by the Company with certain of its shareholders, its shareholders' affiliates and the Company's affiliates. Commercial Agreements The Company has various commercial agreements with affiliates of American Express International, Inc. ("American Express"). In respect of such agreements, included in the operating costs are costs of approximately $10 million and $8 million for the three months ended March 31, 2025 and 2024, respectively, for charges from affiliates of American Express. Revenues also include revenue from affiliates of American Express of approximately $2 million and $2 million for the three months ended March 31, 2025 and 2024, respectively. Amounts payable to affiliates of American Express under these agreements, which include amounts collected by the Company on behalf of affiliates of American Express, as of March 31, 2025 and December 31, 2024, were $33 million and $12 million, respectively. Amounts receivable from affiliates of American Express under these agreements were $2 million and $2 million as of March 31, 2025 and December 31, 2024, respectively. In November 2021, the Company and an affiliate of EG Corporate Travel Holdings LLC (“Expedia") entered into a ten-year term marketing partner agreement to provide the Company’s business clients with access to Expedia and it's affiliates' hotel content. As a result of this agreement, the Company recognized revenue of $40 million and $40 million for the three months ended March 31, 2025 and 2024, respectively. The Company had $45 million and $44 million receivable from the affiliate of Expedia as of March 31, 2025 and December 31, 2024, respectively. The Company and an affiliate of Expedia, entered into a Transition Services Agreement in 2021 (as amended from time to time) pursuant to which the affiliate of Expedia provided certain transition services to the Company through April 30, 2024 to facilitate an orderly transfer of Egencia from the Expedia affiliate to the Company. On May 1, 2024, the parties entered into an Operating Agreement (as amended from time to time) whereby the affiliate of Expedia would continue to provide certain operational services in support of the Egencia business for up to eighteen months. The total cost charged to the Company under such agreements for the three months ended March 31, 2025 and 2024, was approximately $2 million and $4 million, respectively, which was included in the Company’s consolidated statements of operations. As of March 31, 2025 and December 31, 2024, the Company had a payable to an affiliate of Expedia of $1 million and $3 million, respectively. Further, as of March 31, 2025, Egencia had a net payable of $1 million to Expedia on account of net cash settled by Expedia on behalf of Egencia. As of December 31, 2024, the Company had $7 million payable to an affiliate of Expedia on account of a loss contingency recognized in 2022. During the three months ended March 31, 2025, the Company paid $3 million as the full and final amount towards this accrual and released the $4 million liability balance which is included in the Company's consolidated statements of operations.
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