GBTG · As filed with the SEC

Global Business Travel Group cash flow statement, by quarter

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 (Unaudited) · USD millions

USD millions	Q2 2026^† 3 months ended Jun 30, 2026	Q1 2026 3 months ended Mar 31, 2026	Q4 2025^† 3 months ended Dec 31, 2025	Q3 2025^† 3 months ended Sep 30, 2025
Operating activities:
Net income	17^†	54	83^†	(62)^†
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	56^†	60	60^†	49^†
Deferred tax (benefit) charge	2^†	(28)	(33)^†	8^†
Equity-based compensation	19^†	17	18^†	19^†
Allowance for credit losses	4^†	2	1^†	1^†
Loss on early extinguishment of debt	0^†	0	0^†	0^†
Fair value movement on earnout derivative liabilities	(6)^†	(31)	—	26^†
Other, net	(5)^†	(1)	15^†	(1)^†
Changes in working capital:
Accounts receivable	36^†	(151)	81^†	(6)^†
Prepaid expenses and other current assets	19^†	(47)	35^†	(12)^†
Due from affiliates	(12)^†	(3)	3^†	5^†
Due to affiliates	13^†	(2)	6^†	3^†
Accounts payable, accrued expenses and other current liabilities	6^†	123	(153)^†	48^†
Defined benefit pension funding	(7)^†	(8)	(9)^†	(7)^†
Proceeds from termination of interest rate swap contracts	—	—	—	0^†
Proceeds from termination of interest rate swap contracts	0^†	0	—	—
Net cash from operating activities	142^†	(15)	52^†	71^†
Investing activities:
Business acquisition, net of cash and restricted cash acquired	0^†	10	34^†	(138)^†
Purchase of property and equipment	(39)^†	(37)	(39)^†	(33)^†
Proceeds from foreign exchange forward contracts	0^†	0	0^†	0^†
Other	—	—	0^†	0^†
Net cash used in investing activities	(39)^†	(27)	(5)^†	(171)^†
Financing activities:
Proceeds from senior secured term loans	0^†	132	0^†	0^†
Repayment of senior secured term loans	(4)^†	(36)	(3)^†	(4)^†
Repurchase of common shares	(9)^†	(38)	(39)^†	(33)^†
Contributions from ESPP	0^†	4	0^†	4^†
Payment of taxes withheld on vesting of equity awards	(14)^†	(14)	(1)^†	(1)^†
Payment of debt financing costs	—	—	0^†	—
Prepayment penalty and other costs related to early extinguishment of debt	—	—	0^†	—
Other	(2)^†	1	(4)^†	1^†
Net cash from (used in) financing activities	(29)^†	49	(47)^†	(33)^†
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(2)^†	(6)	(2)^†	(4)^†
Net increase in cash, cash equivalents and restricted cash	72^†	1	(2)^†	(137)^†
Cash, cash equivalents and restricted cash, beginning of period	480	479	481	618
Cash, cash equivalents and restricted cash, end of period	552	480	479	481
Supplemental cash flow information:
Cash paid for income taxes (net of refunds)	(3)^†	3	7^†	16^†
Cash paid for interest (net of interest received)	23^†	25	23^†	21^†
Issuance of common shares pursuant to the CWT acquisition	—	—	0^†	—
Non-cash additions for operating lease right-of-use assets	6^†	4	—	1^†
Non-cash additions for finance lease	0^†	0	—	0^†

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.