For the year ending 2025-12-31, GBTG had -$82M decrease in cash & cash equivalents over the period. $104M in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net income (loss) | 111 |
| Depreciation and amortization | 192 |
| Deferred tax (benefit) charge | -15 |
| Equity-based compensation | 76 |
| Allowance for credit losses | 5 |
| Loss on early extinguishment of debt | -2 |
| Fair value movement on earnout derivative liabilities | 96 |
| Gain on remeasurement of previously held equity interest | 39 |
| Other, net | -32 |
| Accounts receivable | 48 |
| Prepaid expenses and other current assets | -20 |
| Due from affiliates | 5 |
| Due to affiliates | 3 |
| Accounts payable, accrued expenses and other current liabilities | -7 |
| Defined benefit pension funding | -29 |
| Proceeds from (payment for) termination of interest rate swap contracts | 31 |
| Net cash from operating activities | 233 |
| Business acquisitions, net of cash and restricted cash acquired | 104 |
| Purchase of property and equipment | 129 |
| Proceeds from foreign exchange forward contracts | 27 |
| Other | 0 |
| Net cash used in investing activities | -206 |
| Proceeds from senior secured term loans, net of debt discount | 99 |
| Repayment of senior secured term loans | 113 |
| Repurchase of common shares | 73 |
| Contributions for espp and proceeds from exercise of stock options | 8 |
| Payment of taxes withheld on vesting of equity awards | 43 |
| Payment of debt financing costs | 0 |
| Prepayment penalty and other costs related to early extinguishment of debt | 0 |
| Other | -6 |
| Net cash (used in) from financing activities | -128 |
| Effect of exchange rates changes on cash, cash equivalents and restricted cash | 19 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -82 |
| Cash, cash equivalents and restricted cash, beginning of year | 561 |
| Cash, cash equivalents and restricted cash, end of year | 479 |
Global Business Travel Group, Inc. (GBTG)
Global Business Travel Group, Inc. (GBTG)