Stock and Stockholders' Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Stock and Stockholders' Equity | Stock and Stockholders' Equity Liability-classified stock-based payment awards In the first quarter of 2026, we adopted a short-term incentive compensation program for non-executive team members. Under this program, participants are eligible to receive fully-vested shares of our common stock which would be issued in early 2027, contingent upon the achievement of specific performance metrics. We account for the potential issuance of these shares of common stock as stock-based payment awards granted under this program. Stock-based compensation expense associated with these awards for the three months ended June 30, 2026 was $10 million, of which approximately $1 million is included in cost of revenue, excluding technology costs and $5 million is included in both technology costs and selling, general and administrative expenses, respectively, in our consolidated statement of operations. Stock-based compensation expense associated with these awards for the six months ended June 30, 2026 was $13 million, of which approximately $1 million is included in cost of revenue, excluding technology costs and $6 million is included in both technology costs and selling, general and administrative expenses, respectively, in our consolidated statement of operations. Because the incentive compensation associated with these awards represents a fixed dollar amount that, if payable, will be settled in a variable number of shares of our common stock, we are currently accounting for these awards as liability-classified awards. Accordingly, the offset to the $13 million of stock-based compensation expense we have recognized in connection with these awards during the six months ended June 30, 2026 is included in accrued compensation and related benefits on our consolidated balance sheet. Exchangeable Notes On April 17, 2020, we issued $345 million aggregate principal amount of the 2025 Exchangeable Notes. On March 19, 2024, Sabre GLBL exchanged $150 million aggregate principal amount of our then-outstanding 2025 Exchangeable Notes for $150 million aggregate principal amount of the 2026 Exchangeable Notes and approximately $30 million of cash. On May 18, 2026, we issued $150 million aggregate principal amount of the 2031 Exchangeable Notes. Substantially concurrently with the issuance of the 2031 Exchangeable Notes, we used a portion of the net proceeds to fund the repurchase of $100 million in aggregate principal amount of the outstanding 2026 Exchangeable Notes. Under the terms of the Exchangeable Notes Indentures, the Exchangeable Notes are exchangeable into our common stock under specified circumstances, at our election. As of June 30, 2026, we had $50 million and $150 million of aggregate principal amount of 2026 Exchangeable Notes and 2031 Exchangeable Notes outstanding, respectively. The 2025 Exchangeable Notes and 2026 Exchangeable Notes matured on April 15, 2025 and August 1, 2026, respectively, and were settled with cash. Share Repurchase Program In February 2017, we announced the approval of a multi-year share repurchase program (the “Share Repurchase Program”) to purchase up to $500 million of Sabre's common stock outstanding. Repurchases under the Share Repurchase Program may take place in the open market or privately negotiated transactions. On March 16, 2020, we announced the suspension of share repurchases under the Share Repurchase Program in conjunction with certain cash management measures we undertook as a result of the market conditions caused by COVID-19. During the six months ended June 30, 2026, we did not repurchase any shares pursuant to the Share Repurchase Program. As of June 30, 2026, the Share Repurchase Program remains suspended and approximately $287 million remains authorized for repurchases.
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