GBTG · As filed with the SEC
Global Business Travel Group cash flow statement, by fiscal year
The statement as Global Business Travel Group presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
CONSOLIDATED STATEMENTS OF CASH FLOWS · USD millions
| USD millions | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 |
|---|---|---|---|---|
| Operating activities: | ||||
| Net income (loss) | 111 | (134) | (136) | (229) |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | ||||
| Depreciation and amortization | 192 | 178 | 194 | 182 |
| Deferred tax (benefit) charge | (15) | 34 | (30) | (65) |
| Equity-based compensation | 76 | 77 | 75 | 39 |
| Allowance for credit losses | 5 | 9 | 9 | 19 |
| Loss on early extinguishment of debt | 2 | 38 | 0 | — |
| Impairment of operating lease ROU and other assets | — | — | — | 0 |
| Fair value movements on earnout and warrants derivative liabilities | — | 56 | (13) | (8) |
| Fair value movement on earnout derivative liabilities | (96) | — | — | — |
| Gain on remeasurement of previously held equity interest | (39) | — | — | — |
| Other, net | 32 | (23) | 17 | 22 |
| Changes in working capital: | ||||
| Accounts receivable | (48) | 123 | 49 | (427) |
| Prepaid expenses and other current assets | 20 | (28) | 9 | (29) |
| Due from affiliates | (5) | (5) | (4) | (18) |
| Due to affiliates | 3 | (17) | (5) | 7 |
| Accounts payable, accrued expenses and other current liabilities | (7) | (5) | 26 | 122 |
| Defined benefit pension funding | (29) | (27) | (29) | (32) |
| (Payment for) proceeds from termination of interest rate swap contracts | — | (4) | 0 | 23 |
| Proceeds from (payment for) termination of interest rate swap contracts | 31 | — | — | — |
| Net cash from operating activities | 233 | 272 | 162 | (394) |
| Investing activities: | ||||
| Business acquisitions, net of cash and restricted cash acquired | (104) | — | — | — |
| Ovation Group | — | — | 0 | — |
| Egencia | — | — | 0 | — |
| Purchase of property and equipment | (129) | (107) | (113) | (94) |
| Proceeds from foreign exchange forward contracts | 27 | — | — | — |
| Other | 0 | 5 | (6) | (1) |
| Net cash used in investing activities | (206) | (102) | (119) | (95) |
| Financing activities: | ||||
| Proceeds from senior secured term loans, net of debt discount | 99 | 1,397 | 131 | — |
| Senior secured tranche B-3 term loans | — | — | — | 200,000,000 |
| Repayment of senior secured term loans | (113) | (1,372) | (3) | (3) |
| Repayment of finance lease obligations | — | — | (2) | (2) |
| Payment of lender fees and issuance costs for senior secured term loans facilities | — | — | (2) | — |
| Repurchase of common shares | (73) | (55) | — | — |
| Proceeds from reverse recapitalization, net | — | 0 | 0 | 269 |
| Redemption of preference shares | — | 0 | 0 | (168) |
| Proceeds from issuance of preferred shares | — | — | 0 | — |
| Contributions for ESPP and proceeds from exercise of stock options | 8 | 29 | 7 | — |
| Payment of taxes withheld on vesting of equity awards | (43) | (28) | (14) | — |
| Payment of debt financing costs | 0 | (25) | — | — |
| Prepayment penalty and other costs related to early extinguishment of debt | 0 | (26) | 0 | — |
| Payment of deferred consideration | — | — | 0 | (4) |
| Payment of offering costs | — | — | 0 | — |
| Capital distributions to shareholders | — | — | 0 | — |
| Other | (6) | (5) | 3 | — |
| Net cash (used in) from financing activities | (128) | (85) | 120 | 292 |
| Effect of exchange rates changes on cash, cash equivalents and restricted cash | 19 | (13) | 10 | (12) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (82) | 72 | 173 | (209) |
| Cash, cash equivalents and restricted cash, beginning of year | 561 | 489 | 316 | 525 |
| Cash, cash equivalents and restricted cash, end of year | 479 | 561 | 489 | 316 |
| Supplemental cash flow information: | ||||
| Cash paid for income taxes (net of refunds) | 52 | 14 | 2 | (1) |
| Cash paid for interest (net of interest received) | 94 | 99 | 142 | 96 |
| Deferred offering costs accrued | — | — | 0 | — |
| Non-cash additions for finance lease | — | — | 4 | — |
| Issuance of shares to settle liability | 0 | 0 | 4 | — |
| Issuance of common shares pursuant to the CWT acquisition | 408 | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.