For the quarter ending 2026-03-31, GBTG had $1M increase in cash & cash equivalents over the period. -$52M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 54 | 83 | -62 | 90 |
| Depreciation and amortization | 60 | 60 | 49 | 83 |
| Deferred tax (benefit) charge | -28 | -33 | 8 | 10 |
| Equity-based compensation | 17 | 18 | 19 | 39 |
| Allowance for credit losses | 2 | 1 | 1 | 3 |
| Loss on early extinguishment of debt | 0 | 0 | 0 | -2 |
| Fair value movement on earnout derivative liabilities | - | 96 | - | - |
| Proceeds from termination of interest rate swap contracts | - | - | 0 | 31 |
| Gain on remeasurement of previously held equity interest | - | 39 | - | - |
| Fair value movement on earnout derivative liabilities | -49 | - | -26 | 106 |
| Other, net | 1 | -15 | 1 | -18 |
| Accounts receivable | 151 | -81 | 6 | 123 |
| Prepaid expenses and other current assets | 47 | -35 | 12 | 3 |
| Due from affiliates | 3 | -3 | -5 | 13 |
| Due to affiliates | -2 | 6 | 3 | -6 |
| Accounts payable, accrued expenses and other current liabilities | 123 | -153 | 48 | 98 |
| Defined benefit pension funding | -8 | -9 | -7 | -13 |
| Proceeds from termination of interest rate swap contracts | 0 | 31 | - | - |
| Net cash (used in) from operating activities | -15 | 52 | 71 | 110 |
| Business acquisition, net of cash and restricted cash acquired | -10 | -34 | 138 | - |
| Purchase of property and equipment | 37 | 39 | 33 | 57 |
| Proceeds from foreign exchange forward contracts | 0 | 0 | 0 | 27 |
| Other | - | 0 | 0 | 0 |
| Net cash used in investing activities | -27 | -5 | -171 | -30 |
| Proceeds from senior secured term loans | 132 | 0 | 0 | 99 |
| Repayment of senior secured term loans | 36 | 3 | 4 | 106 |
| Repurchase of common shares | 38 | 39 | 33 | 1 |
| Contributions for espp | 4 | 0 | 4 | 4 |
| Payment of taxes withheld on vesting of equity awards | 14 | 1 | 1 | 41 |
| Payment of debt financing costs | - | 0 | 0 | - |
| Prepayment penalty and other costs related to early extinguishment of debt | - | 0 | 0 | - |
| Other | 1 | -4 | 1 | -3 |
| Net cash from (used in) financing activities | 49 | -47 | -33 | -48 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -6 | -2 | -4 | 25 |
| Net increase in cash, cash equivalents and restricted cash | 1 | -2 | -137 | 57 |
| Cash, cash equivalents and restricted cash, beginning of period | 479 | 481 | 561 | - |
| Cash, cash equivalents and restricted cash, end of period | 480 | 479 | 481 | - |
Global Business Travel Group, Inc. (GBTG)
Global Business Travel Group, Inc. (GBTG)