Global Business Travel (GBTG) 10-Q 5 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-39576
Entity Registrant Name	Global Business Travel Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0598290
Entity Address, Address Line One	666 3rd Avenue, 4th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	646
Local Phone Number	344-1290
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	GBTG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		470,502,288
Amendment Flag	false
Document Fiscal Year Focus	2024
Entity Central Index Key	0001820872
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 524	$ 476
Accounts receivable (net of allowance for credit losses of $15 and $12 as of September 30, 2024 and December 31, 2023, respectively)	691	726
Due from affiliates	44	42
Prepaid expenses and other current assets	135	116
Total current assets	1,394	1,360
Property and equipment, net	232	232
Equity method investments	14	14
Goodwill	1,236	1,212
Other intangible assets, net	500	552
Operating lease right-of-use assets	62	50
Deferred tax assets	253	281
Other non-current assets	61	50
Total assets	3,752	3,751
Current liabilities:
Accounts payable	330	302
Due to affiliates	28	39
Accrued expenses and other current liabilities	504	466
Current portion of operating lease liabilities	14	17
Current portion of long-term debt	16	7
Total current liabilities	892	831
Long-term debt, net of unamortized debt discount and debt issuance costs	1,368	1,355
Deferred tax liabilities	5	5
Pension liabilities	176	183
Long-term operating lease liabilities	67	55
Earnout derivative liabilities	91	77
Other non-current liabilities	47	33
Total liabilities	2,646	2,539
Commitments and Contingencies (see note 8)
Shareholders’ equity:
Class A common stock (par value $0.0001; 3,000,000,000 shares authorized; 477,996,198 and 467,092,817 shares issued, 469,996,198 and 467,092,817 shares outstanding as of September 30, 2024 and December 31, 2023, respectively)	0	0
Additional paid-in capital	2,809	2,748
Accumulated deficit	(1,559)	(1,437)
Accumulated other comprehensive loss	(94)	(103)
Treasury shares, at cost (8,000,000 shares and nil shares as of September 30, 2024 and December 31, 2023, respectively)	(55)	0
Total equity of the Company’s shareholders	1,101	1,208
Equity attributable to non-controlling interest in subsidiaries	5	4
Total shareholders’ equity	1,106	1,212
Total liabilities and shareholders’ equity	$ 3,752	$ 3,751
Treasury shares, at cost (in shares)	8,000,000	0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 15	$ 12
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	477,996,198	467,092,817
Common stock, shares outstanding (in shares)	469,996,198	467,092,817
Treasury shares, at cost (in shares)	8,000,000	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 597	$ 571	$ 1,832	$ 1,741
Costs and expenses:
Cost of revenue (excluding depreciation and amortization shown separately below)	237	238	729	723
Sales and marketing	99	95	297	300
Technology and content	112	103	332	307
General and administrative	75	77	241	235
Restructuring and other exit charges	4	12	10	42
Depreciation and amortization	43	50	138	145
Total operating expenses	570	575	1,747	1,752
Operating income (loss)	27	(4)	85	(11)
Interest income	2	0	4	0
Interest expense	(28)	(36)	(93)	(105)
Loss on early extinguishment of debt	(38)	0	(38)	0
Fair value movement on earnout derivative liabilities	(22)	39	(14)	23
Other loss, net	(15)	(9)	(9)	(9)
Loss before income taxes	(74)	(10)	(65)	(102)
(Provision for) benefit from income taxes	(54)	2	(55)	12
Net loss	(128)	(8)	(120)	(90)
Less: net income (loss) attributable to non-controlling interests in subsidiaries	1	(8)	2	(74)
Net loss attributable to the Company’s Class A common stockholders	$ (129)	$ 0	$ (122)	$ (16)
Basic loss per share attributable to the Company’s Class A common stockholders (in dollars per share)	$ (0.28)	$ 0	$ (0.26)	$ (0.09)
Weighted average number of shares outstanding - Basic (in shares)	462,291,043	419,154,778	462,763,170	181,775,461
Diluted loss per share attributable to the Company’s Class A common stockholders (in dollars per share)	$ (0.28)	$ (0.02)	$ (0.26)	$ (0.20)
Weighted average number of shares outstanding - Diluted (in shares)	462,291,043	457,742,129	462,763,170	456,300,045

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (128)	$ (8)	$ (120)	$ (90)
Other comprehensive income (loss), net of tax:
Change in currency translation adjustments, net of tax	46	(19)	20	(6)
Unrealized (losses) gains on cash flow hedge, net of tax:
Unrealized (losses) gains on cash flow hedges arising during the period	(10)	3	(5)	6
Unrealized gains on cash flow hedges reclassified to interest expense	(2)	(2)	(6)	(6)
Amortization of actuarial gain and prior service cost to net periodic pension cost, net of tax	0	0	0	(1)
Other comprehensive income (loss), net of tax	34	(18)	9	(7)
Comprehensive loss	(94)	(26)	(111)	(97)
Less: Comprehensive income (loss) attributable to non-controlling interests in subsidiaries	1	(3)	2	(60)
Comprehensive loss attributable to the Company’s Class A common stockholders	$ (95)	$ (23)	$ (113)	$ (37)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities:
Net loss	$ (120)	$ (90)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation and amortization	138	145
Deferred tax charge (benefit)	29	(16)
Equity-based compensation	58	60
Allowance for credit losses	7	11
Loss on early extinguishment of debt	38	0
Fair value movement on earnout derivative liabilities	14	(23)
Other	14	16
Changes in working capital:
Accounts receivable	24	(109)
Prepaid expenses and other current assets	(26)	(26)
Due from affiliates	(4)	(2)
Due to affiliates	(11)	18
Accounts payable, accrued expenses and other current liabilities	66	141
Defined benefit pension funding	(20)	(21)
Net cash from operating activities	207	104
Investing activities:
Purchase of property and equipment	(75)	(87)
Other	5	(6)
Net cash used in investing activities	(70)	(93)
Financing activities:
Proceeds from senior secured term loans	1,397	131
Repayment of senior secured term loans	(1,372)	(2)
Purchase of treasury shares	(55)	0
Contributions for ESPP and proceeds from exercise of stock options	27	7
Payment of taxes withheld on vesting of equity awards	(22)	(14)
Payment of debt financing costs	(25)	(2)
Prepayment penalty and other costs related to early extinguishment of debt	(26)	0
Other	(3)	1
Net cash (used in) from financing activities	(79)	121
Effect of exchange rate changes on cash, cash equivalents and restricted cash	3	(3)
Net increase in cash, cash equivalents and restricted cash	61	129
Cash, cash equivalents and restricted cash, beginning of period	489	316
Cash, cash equivalents and restricted cash, end of period	550	445
Supplemental cash flow information:
Cash paid for income taxes, net	13	1
Cash paid for interest (net of interest received)	75	107
Non-cash additions for operating lease right-of-use assets	26	10
Non-cash additions for finance lease	5	3
Issuance of shares to settle liability	$ 0	$ 4

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Cash, cash equivalents and restricted cash consist of:
Cash and cash equivalents	$ 524	$ 476
Restricted cash (included in other non-current assets)	26	13
Cash, cash equivalents and restricted cash	$ 550	$ 489

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL SHAREHOLDERS’ EQUITY - USD ($) $ in Millions	Total	Total equity of the Company’s shareholders	Common Stock Class A common stock	Common Stock Class B common stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive loss	Treasury Shares	Equity attributable to non-controlling interest in subsidiaries
Beginning balance (in shares) at Dec. 31, 2022			67,753,543	394,448,481
Beginning balance at Dec. 31, 2022	$ 1,371	$ 152	$ 0	$ 0	$ 334	$ (175)	$ (7)		$ 1,219
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	19	19			19
Shares issued, net, on vesting of / exercise of equity awards and pursuant to ESPP (see note 11) (in shares)			2,849,386
Shares issued, net, on vesting of equity awards and pursuant to ESPP (see note 11)	1	1			1
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11) (in shares)			(1,103,937)
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11)	(8)	(8)			(8)
Net (loss) income	(27)	(2)				(2)			(25)
Other comprehensive income (loss), net of tax	(4)								(4)
Ending balance (in shares) at Mar. 31, 2023			69,498,992	394,448,481
Ending balance at Mar. 31, 2023	1,352	162	$ 0	$ 0	346	(177)	(7)		1,190
Beginning balance (in shares) at Dec. 31, 2022			67,753,543	394,448,481
Beginning balance at Dec. 31, 2022	1,371	152	$ 0	$ 0	334	(175)	(7)		1,219
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(90)
Other comprehensive income (loss), net of tax	(7)
Ending balance (in shares) at Sep. 30, 2023			466,992,558	0
Ending balance at Sep. 30, 2023	1,255	1,252	$ 0	$ 0	2,733	(1,390)	(91)		3
Beginning balance (in shares) at Mar. 31, 2023			69,498,992	394,448,481
Beginning balance at Mar. 31, 2023	1,352	162	$ 0	$ 0	346	(177)	(7)		1,190
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	22	22			22
Shares issued, net, on vesting of / exercise of equity awards and pursuant to ESPP (see note 11) (in shares)			355,125
Shares issued, net, on vesting of equity awards and pursuant to ESPP (see note 11)	1	1			1
Shares issued to settle liability (in shares)			575,409
Shares issued to settle liability	4	4			4
Net (loss) income	(55)	(14)				(14)			(41)
Other comprehensive income (loss), net of tax	15	2					2		13
Ending balance (in shares) at Jun. 30, 2023			70,429,526	394,448,481
Ending balance at Jun. 30, 2023	1,339	177	$ 0	$ 0	373	(191)	(5)		1,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	19	19			19
Shares issued, net, on vesting of / exercise of equity awards and pursuant to ESPP (see note 11) (in shares)			2,947,937
Shares issued, net, on vesting of equity awards and pursuant to ESPP (see note 11)	5	5			5
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11) (in shares)			(833,386)
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11)	(6)	(6)			(6)
Exchange of Class B common stock for Class A common stock pursuant to the Exchange Agreement (in shares)			394,448,481	(394,448,481)
Exchange of Class B common stock for Class A common stock pursuant to the Exchange Agreement	0	1,156			2,418	(1,199)	(63)		(1,156)
Tax impact of corporate simplification	(76)	(76)			(76)
Net (loss) income	(8)								(8)
Other comprehensive income (loss), net of tax	(18)	(23)					(23)		5
Ending balance (in shares) at Sep. 30, 2023			466,992,558	0
Ending balance at Sep. 30, 2023	$ 1,255	1,252	$ 0	$ 0	2,733	(1,390)	(91)		3
Beginning balance (in shares) at Dec. 31, 2023			467,092,817
Treasury shares, beginning balance (in shares) at Dec. 31, 2023	0							0
Beginning balance at Dec. 31, 2023	$ 1,212	1,208	$ 0		2,748	(1,437)	(103)	$ 0	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	18	18			18
Shares issued, net, on vesting of / exercise of equity awards and pursuant to ESPP (see note 11) (in shares)			8,732,539
Shares issued, net, on vesting of equity awards and pursuant to ESPP (see note 11)	4	4			4
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11) (in shares)			(3,208,148)
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11)	(19)	(19)			(19)
Dividend distribution to non-controlling interest in subsidiaries	(1)								(1)
Net (loss) income	(19)	(19)				(19)
Other comprehensive income (loss), net of tax	(21)	(21)					(21)
Ending balance (in shares) at Mar. 31, 2024			472,617,208
Treasury shares, ending balance (in shares) at Mar. 31, 2024								0
Ending balance at Mar. 31, 2024	$ 1,174	1,171	$ 0		2,751	(1,456)	(124)	$ 0	3
Beginning balance (in shares) at Dec. 31, 2023			467,092,817
Treasury shares, beginning balance (in shares) at Dec. 31, 2023	0							0
Beginning balance at Dec. 31, 2023	$ 1,212	1,208	$ 0		2,748	(1,437)	(103)	$ 0	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(120)
Other comprehensive income (loss), net of tax	$ 9
Ending balance (in shares) at Sep. 30, 2024			477,996,198
Treasury shares, ending balance (in shares) at Sep. 30, 2024	8,000,000							8,000,000,000,000
Ending balance at Sep. 30, 2024	$ 1,106	1,101	$ 0		2,809	(1,559)	(94)	$ (55)	5
Beginning balance (in shares) at Mar. 31, 2024			472,617,208
Treasury shares, beginning balance (in shares) at Mar. 31, 2024								0
Beginning balance at Mar. 31, 2024	1,174	1,171	$ 0		2,751	(1,456)	(124)	$ 0	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	20	20			20
Shares issued, net, on vesting of / exercise of equity awards and pursuant to ESPP (see note 11) (in shares)			245,959
Shares issued, net, on vesting of equity awards and pursuant to ESPP (see note 11)	1	1			1
Net (loss) income	27	26				26			1
Other comprehensive income (loss), net of tax	(4)	(4)					(4)
Ending balance (in shares) at Jun. 30, 2024			472,863,167
Treasury shares, ending balance (in shares) at Jun. 30, 2024								0
Ending balance at Jun. 30, 2024	1,218	1,214	$ 0		2,772	(1,430)	(128)	$ 0	4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	21	21			21
Shares issued, net, on vesting of / exercise of equity awards and pursuant to ESPP (see note 11) (in shares)			6,066,028
Shares issued, net, on vesting of equity awards and pursuant to ESPP (see note 11)	22	22			22
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11) (in shares)			(932,997)
Shares withheld for taxes in relation to vesting of / exercise of equity awards (see note 11)	(6)	(6)			(6)
Purchase of treasury shares (see note 12) (in shares)								8,000,000,000,000
Purchase of treasury shares (see note 12)	(55)	55						$ (55)
Net (loss) income	(128)	(129)				(129)			1
Other comprehensive income (loss), net of tax	$ 34	34					34
Ending balance (in shares) at Sep. 30, 2024			477,996,198
Treasury shares, ending balance (in shares) at Sep. 30, 2024	8,000,000							8,000,000,000,000
Ending balance at Sep. 30, 2024	$ 1,106	$ 1,101	$ 0		$ 2,809	$ (1,559)	$ (94)	$ (55)	$ 5

Business Description and Basis

Business Description and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description and Basis of Presentation	Business Description and Basis of Presentation Global Business Travel Group, Inc. (“GBTG”), and its consolidated subsidiaries (GBTG together with its consolidated subsidiaries, the "Company"), including GBT JerseyCo Limited (“GBT JerseyCo”), is a leading software and services company in travel, expense and meetings & events. The Company provides a full suite of differentiated, technology-enabled solutions to business travelers and clients, suppliers of travel content (such as airlines, hotels, ground transportation providers and aggregators) and third-party travel agencies. The Company manages end-to-end logistics of business travel and provides a link between businesses and their employees, travel suppliers, and other industry participants. GBTG is a Delaware corporation and tax resident in the United States of America (“U.S.”). The Company has one reportable segment. Potential Acquisition of CWT On March 24, 2024, GBTG entered into an Agreement and Plan of Merger (the “Merger Agreement”) with CWT Holdings, LLC, a Delaware limited liability company (“CWT”), pursuant to which, among other things, GBTG will acquire CWT. The transaction values CWT at approximately $570 million on a cash-free and debt-free basis, subject to certain assumptions and purchase price adjustments. At the closing of the transaction, GBTG expects to fund the acquisition with a combination of cash and an aggregate of approximately 72 million shares of its Class A common stock, par value $0.0001 per share ("Class A common stock"), at a price of $6.00 per share as purchase consideration. The transaction is expected to be completed in the first quarter of 2025, subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals. Basis of Presentation The Company’s consolidated financial statements include the accounts of GBTG, its wholly-owned subsidiaries and entities controlled by GBTG. There are no entities that have been consolidated due to control through operating agreements, financing agreements or as the primary beneficiary of a variable interest entity. The Company reports the non-controlling ownership interests in subsidiaries that are held by third-party owners as equity attributable to non-controlling interests in subsidiaries on the consolidated balance sheets. The portion of income or loss attributable to third-party owners for the reporting period is reported as net income (loss) attributable to non-controlling interests in subsidiaries on the consolidated statements of operations. The Company has eliminated intercompany transactions and balances in its consolidated financial statements. The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) for interim financial reporting. As such, certain notes or other information that are normally required by U.S. GAAP have been omitted if they substantially duplicate the disclosures contained in the Company’s annual audited consolidated financial statements. These interim unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2023, included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission, United States (the “SEC”) on March 13, 2024 (the “Annual Report on Form 10-K”). The Company has included all normal recurring items and adjustments necessary for a fair presentation of the results of the interim period. The Company’s interim unaudited consolidated financial statements are not necessarily indicative of results that may be expected for any other interim period or for the full year. Certain prior period amounts within the consolidated balance sheets, consolidated statements of operations and consolidated statements of cash flows have been reclassified to conform to current year presentation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, supplier revenue, allowance for credit losses, depreciable lives of property and equipment, acquisition purchase price allocations including valuation of acquired intangible assets and goodwill and contingent consideration, valuation of operating lease right-of-use (“ROU”) assets, impairment of goodwill, other intangible assets, long-lived assets, capitalized client incentives and investments in equity method investments, valuation allowances on deferred income taxes, valuation of pensions, interest rate swaps, cross currency interest rate swaps, earnout shares and contingent liabilities. Actual results could differ materially from those estimates.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting Pronouncements - Adopted The Company did not adopt any new accounting pronouncements during the nine months ended September 30, 2024. Accounting Pronouncements - Not Yet Adopted There were no new accounting standards or pronouncements that were issued during the nine months ended September 30, 2024 that the Company expects to have a material impact on its consolidated financial statements. However, the Company has yet to adopt the following accounting standard updates ("ASU") issued by the Financial Accounting Standards Board (the "FASB"). Segment Reporting In November 2023, the FASB issued ASU No. 2023-07, " Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures " which expands the segment reporting disclosures and primarily requires disclosures on (i) significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and are included within each reported measure of segment operating results, (ii) the total amount of any other items included in segment operating results which were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items and (iii) CODM’s title and position and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing performance and deciding how to allocate resources. The update also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis, with early adoption permitted. While the update will require additional disclosures related to the Company’s segment, it is not expected to have any impact on the Company’s consolidated operating results, financial condition or cash flows. Income Taxes In December 2023, the FASB issued ASU No. 2023-09, " Income Taxes (Topic 740): Improvements to Income Tax Disclosures ". The update primarily requires the Company to provide (i) further disaggregation for specific categories on the effective tax rate reconciliation, as well as additional information about federal, state/local and foreign income taxes and (ii) annually disclose its income taxes paid (net of refunds received), disaggregated by jurisdiction. The update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The update is to be applied on a prospective basis, although optional retrospective application is permitted. While the update will require additional disclosures related to the Company’s income taxes, it is not expected to have any impact on the Company’s consolidated operating results, financial condition or cash flows. Climate rules In March 2024, the SEC adopted final rules under Release No. 33-11275, " The Enhancement and Standardization of Climate-Related Disclosures for Investors" (the “Climate Rules”). The Climate Rules require quantitative and qualitative disclosure of certain climate-related information in registration statements and annual reports filed. These disclosures include financial statement footnote disclosure related to the effects of certain severe weather events and other natural conditions. In April 2024, the SEC issued an order staying the Climate Rules pending completion of a judicial review of certain petitions challenging their validity. The Company is currently evaluating the impact of the Climate Rules on its consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company disaggregates revenue based on (i) Travel Revenue which includes all revenue relating to servicing a transaction, which can be an air, hotel, car rental, rail or other travel-related booking or reservation, and (ii) Product and Professional Services Revenue which includes all revenue relating to using the Company’s platform, products and value-added services. The following table presents the Company’s disaggregated revenue by nature of service. Sales and usage-based taxes are excluded from revenue. Three months ended September 30, Nine months ended September 30, (in $ millions) 2024 2023 2024 2023 Travel revenue $ 478 $ 455 $ 1,476 $ 1,401 Product and professional services revenue $ 119 116 356 340 Total revenue $ 597 $ 571 $ 1,832 $ 1,741 Payments from customers are generally received within 30-60 days of invoicing or from their contractual date agreed under the terms of contract. Contract Balances Contract assets represent the Company’s right to consideration in exchange for services transferred to a customer when that right is conditioned on the Company’s future performance obligations. Contract liabilities represent the Company’s obligation to transfer services to a customer for which the Company has received consideration (or the amount is due) from the customer. The opening and closing balances of the Company’s accounts receivable, net, and contract liabilities are as follows: Contract (in $ millions) Accounts receivable, net Client Deferred Balance as of September 30, 2024 $ 690 $ 19 $ 35 Balance as of December 31, 2023 $ 725 $ 9 $ 19 Accounts receivable, net, exclude balances not related to contracts with customers. Deferred revenue is recorded when a performance obligation has not been satisfied but an invoice has been raised. Cash payments received from customers in advance of the Company completing its performance obligations are included in deferred revenue in the Company’s consolidated balance sheets. The Company generally expects to complete its performance obligations under the contracts within one year. During the nine months ended September 30, 2024, the cash payments received or due in advance of the satisfaction of the Company’s performance obligations were offset by $14 million of revenue recognized that was included in the deferred revenue balance as of December 31, 2023. Remaining Performance Obligations The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less. The Company did not have any material transaction price allocated to performance obligations under the contracts over one year that remain unsatisfied as at September 30, 2024.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of: (in $ millions) September 30, December 31, Prepaid technology costs $ 44 $ 36 Prepaid travel expenses 35 13 Value added and similar taxes receivables 9 10 Income tax receivable 7 12 Other prepayments and receivables 40 45 Prepaid expenses and other current assets $ 135 $ 116

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of: (in $ millions) September 30, December 31, Accrued payroll and related costs $ 177 $ 184 Accrued operating expenses 172 160 Client deposits 63 53 Deferred revenue 35 19 Accrued interest payable 22 5 Accrued restructuring costs (see note 6) 18 30 Value added and similar taxes payable 10 12 Other payables 7 3 Accrued expenses and other current liabilities $ 504 $ 466

Restructuring, Exit and Related

Restructuring, Exit and Related Charges	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring, Exit and Related Charges	Restructuring, Exit and Related Charges Employee Severance Cost From time-to-time, the Company takes initiatives to reduce costs, exit from non-profitable business components and geographical regions and/or improve operational efficiency. During the three months ended September 30, 2024 and 2023, the Company has incurred costs related to employee severance of $2 million and $12 million, respectively. During the nine months ended September 30, 2024 and 2023, the Company has incurred costs related to employee severance of $8 million and $40 million, respectively. Such costs are included within restructuring charges in the consolidated statement of operations. Facilities Consolidation and Rationalization During the nine months ended September 30, 2024 and 2023, the Company undertook initiatives to consolidate and rationalize its office facilities at different geographical locations. The Company applied lease reassessment and modification guidance and evaluated the right-of-use assets for potential impairment. Where the Company plans to exit all or distinct portions of a facility and does not have the ability or intent to sublease, the Company accelerates the amortization of operating lease ROU asset and related leasehold improvements at those premises. Accelerated amortization is recognized from the date that the Company approves the plan to fully or partially vacate a facility, for which there is no intent or ability to enter into a sublease, through the final vacate date. Accelerated amortization of operating lease ROU assets, included within general and administrative expense on the consolidated statements of operations, was $4 million and $1 million for the three months ended September 30, 2024 and 2023, respectively, and was $4 million and $7 million for the nine months ended September 30, 2024 and 2023, respectively. Accelerated amortization of leasehold improvements related to abandoned leases , included within depreciation and amortization expense in the consolidated statements of operations, was $1 million and $0 million for the three months ended September 30, 2024 and 2023, respectively, and was $1 million and $3 million for the nine months ended September 30, 2024 and 2023, respectively. Estimated future costs related to other non-lease components (e.g., common area maintenance charges), accrued as part of restructuring expense and recorded as a liability on the facilities abandonment date, amounted to $2 million and $0 million for the three months ended September 30, 2024 and 2023, respectively and $2 million and $2 million for the nine months ended September 30, 2024 and 2023, respectively. The table below sets forth accrued restructuring, exit and related costs included in accrued expenses and other current liabilities, for the nine months ended September 30, 2024: (in $ millions) Employee Related Facility - Non-Lease Related Facility - Lease Related Total Balance as of December 31, 2023 $ 26 $ 4 $ — $ 30 Accruals 8 2 5 15 Non-cash items — — (5) (5) Cash settled (21) (1) — (22) Balance as of September 30, 2024 $ 13 $ 5 $ — $ 18

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2024
Long-Term Debt, Unclassified [Abstract]
Long-term Debt	Long-term Debt The outstanding amount of the Company’s long-term debt consists of: (in $ millions) September 30, December 31, Amended and Restated Senior Secured Credit Agreement Principal amount of senior secured term loans (Maturity - July 2031) $ 1,400 $ — Original Senior Secured Credit Agreement Principal amount of senior secured initial term loans — 237 Principal amount of senior secured tranche B-3 term loans — 1,000 Principal amount of senior secured tranche B-4 term loans — 135 Other borrowings 9 6 1,409 1,378 Less: Unamortized debt discount and debt issuance costs (25) (16) Total debt, net of unamortized debt discount and debt issuance costs 1,384 1,362 Less: Current portion of long-term debt (16) (7) Long-term debt, non-current, net of unamortized debt discount and debt issuance costs $ 1,368 $ 1,355 Amended and Restated Senior Secured Credit Agreement On July 26, 2024 (the “Refinancing Date”), GBTG and GBT US III LLC, a wholly-owned subsidiary of GBTG (the "Initial Borrower") entered into an amended and restated senior secured credit agreement (the “A&R Credit Agreement”) which provides for $1,400 million senior secured first lien term loan facility (the “Term Loan Facility”, and the loans thereunder, the “Term Loans”) and a $360 million senior secured first lien revolving credit facility (the “Revolving Credit Facility”, and the loans thereunder, the “Revolving Loans”). The Term Loans were drawn in full on the Refinancing Date and the proceeds therefrom were used to repay in full the outstanding principal amount of all tranches of term loans outstanding, including accrued interest and breakage fees, under its then existing senior secured credit agreement ("Original Credit Agreement"). The A&R Credit Agreement amended and restated the Original Credit Agreement. The repayment of term loans under the Original Credit Agreement resulted in a loss on early extinguishment of debt of $38 million. The Company incurred total costs of debt refinancing of $25 million, which has been capitalized as debt issuance cost and will be amortized to interest expense over the term of the Term Loan and Revolving Credit Facility, using the effective interest rate method. The Term Loans mature on July 26, 2031. Principal amounts outstanding under the Term Loans are required to be repaid on a quarterly basis, commencing March 31, 2025, at an amortization rate of 1.00% per annum, with the balance due at maturity. At the option of the Initial Borrower, amounts borrowed under one or more of the Term Loan Facility may be voluntarily prepaid, in whole or in part, at any time without premium or penalty (other than (i) a prepayment premium of 1% of the principal amount of the Term Loans subject to certain repricing transactions occurring prior to January 26, 2025 and (ii) customary breakage costs in connection with certain prepayments of loans). Further, subject to certain exceptions set forth in the A&R Credit Agreement, the Initial Borrower is required to prepay loans under the Term Loan Facility with (i) 50% (subject to leverage-based step-downs) of annual excess cash flow (calculated in a manner set forth in the A&R Credit Agreement) in excess of a threshold amount, (ii) 100% (subject to leverage-based step-downs) of the net cash proceeds from certain asset sales and casualty events, subject to customary reinvestment rights, (iii) 100% of the net cash proceeds from the incurrence of certain indebtedness. The Revolving Credit Facility has (i) a $150 million sublimit for extensions of credit denominated in certain currencies other than U.S. dollars, (ii) a $50 million sublimit for letters of credit, and (iii) a $50 million sublimit for swingline borrowings. Extensions of credit under the A&R Revolving Credit Facility are generally subject to customary borrowing conditions. The proceeds from borrowings under the Revolving Credit Facility may be used for working capital and other general corporate purposes. The Revolving Credit Facility matures on July 26, 2029. At the option of the Initial Borrower, amounts borrowed under the Revolving Credit Facility may be voluntarily prepaid, and/or the commitments thereunder may be voluntarily reduced or terminated, in each case, in whole or in part, at any time without premium or penalty (other than customary breakage costs in connection with certain prepayments of loans). As of September 30, 2024, the Company had $360 million of availability under the A&R Revolving Credit Facility. The Term Loans and the Revolving Loans (collectively, the “Loans”) bear interest based on secured overnight financing rate ("SOFR") (or an alternative reference rate for amounts denominated in a currency other than U.S. dollars), or, at the Initial Borrower’s option, in the case of amounts denominated in U.S. dollars,the Base Rate (as defined in the A&R Credit Agreement), plus, as applicable, a margin of (i) in the case of Term Loans, 3.00% per annum for SOFR-based Loans (or 2.00% per annum for Base Rate-based Loans) and (ii) in the case of the Revolving Loans, 2.75% per annum for SOFR-based Loans (or 1.75% per annum for Base Rate-based Loans). The Initial Borrower is required to pay, quarterly in arrears, a fee based on the average daily unused commitments under the Revolving Credit Facility of 0.375% per annum, with a single step-down to 0.25% per annum upon an upgrade of the Initial Borrower’s debt rating from at least one of the specified credit rating agencies on or prior to the first anniversary of the closing of the potential acquisition of CWT. The Initial Borrower is also obligated to pay a customary agency fee and other customary fees described in the A&R Credit Agreement. Security; Guarantees GBTG and certain of its direct and indirect subsidiaries, as guarantors (such guarantors, collectively with the Initial Borrower, the “Loan Parties”), provide an unconditional guarantee, on a joint and several basis, of all obligations under the A&R Credit Agreement and under cash management agreements and swap contracts with the lenders or their affiliates (with certain limited exceptions). Subject to certain cure rights, as of the end of each fiscal quarter, at least 70% of the Consolidated EBITDA (as defined in the A&R Credit Agreement) of the Loan Parties and their subsidiaries must be attributable, in the aggregate, to the Loan Parties for the four prior fiscal quarters. Further, the lenders have a first priority security interest in substantially all of the assets of the Loan Parties. Covenants The A&R Credit Agreement contains various affirmative and negative covenants, which are similar to those set forth in the Original Credit Agreement, including a financial covenant and limitations (subject to exceptions) on the ability of the Loan Parties and their subsidiaries to: (i) incur indebtedness or issue preferred stock; (ii) incur liens on their assets; (iii) consummate certain fundamental changes (such as acquisitions, mergers, liquidations or changes in the nature of the business); (iv) dispose of all or any part of their assets; (v) pay dividends or other distributions with respect to, or repurchase, any equity interests of any Loan Party or any equity interests of any direct or indirect parent company or subsidiary of any Loan Party; (vi) make investments, loans or advances; (vii) enter into transactions with affiliates and certain other permitted holders; (viii) modify the terms of, or prepay, any of their subordinated or junior lien indebtedness; and (ix) enter into certain burdensome agreements. The A&R Credit Agreement contains a financial covenant applicable solely to the Revolving Credit Facility that requires the first lien net leverage ratio (as defined under the A&R Credit Agreement) to be less than or equal to 3.50 to 1.00 as of the last day of any fiscal quarter on which the aggregate principal amount of outstanding loans and letters of credit under the Revolving Credit Facility exceeds 35% of the aggregate principal amount of the Revolving Credit Facility (subject to a $10 million exclusion for utilization of the letter of credit sublimit). The A&R Credit Agreement provides that such financial covenant is suspended for a limited period of time if an event that constitutes a “Travel MAC” (as defined in the A&R Credit Agreement) has occurred and the Loan Parties are unable to comply with such covenant as a result of such event. Such financial covenant did not apply for as of September 30, 2024. As of September 30, 2024, the Loan Parties and their subsidiaries were in compliance with all applicable covenants under the A&R Credit Agreement. Events of Default The A&R Credit Agreement contains default events (subject to certain materiality thresholds and grace periods), which could require early prepayment, termination of the A&R Credit Agreement or other enforcement actions customary for facilities of this type. As of September 30, 2024, no event of default existed under the A&R Credit Agreement. Original Credit Agreement As mentioned above, in connection with the effectiveness of the A&R Credit Agreement, the Company repaid in full the outstanding principal amounts under the Original Credit Agreement. Under the Original Credit Agreement, the tranche B-3 and B-4 term loans accrued interest at a variable interest rate based on SOFR plus 0.10% ("Adjusted SOFR") plus a leverage-based margin ranging from 5.25% to 6.75% per annum, and loans under the senior secured revolving credit facility accrued interest at a variable interest rate based on Adjusted SOFR plus a leverage-based margin ranging from 4.75% to 6.25% per annum. A 1.00% floor on Adjusted SOFR applied to the tranche B-3 and tranche B-4 term loans and borrowings under the revolving credit facility. Improvement in the Company's leverage ratio, computed in a manner as provided in the Original Credit Agreement, resulted in a decrease in its interest rate margins during 2024. As of December 31, 2023, (i) interest on each of tranche B-3 and tranche B-4 term loans was based on Adjusted SOFR plus 6.00%, and (ii) interest on the revolving credit facility was based on Adjusted SOFR plus 5.50%, respectively. As of December 31, 2023, interest on the initial term loans under the Original Credit Agreement was based on synthetic LIBOR plus 2.50%. Further, under the Original Credit Agreement, the Company was required to pay a fee of 0.375% per annum on the average daily unused commitments under the senior secured revolving credit facility, payable quarterly in arrears. As of December 31, 2023, the Company had utilized $7 million for letters of credit and had $43 million of availability under the revolving credit facility. Interest on the senior secured credit facilities under the Original Credit Agreement was payable quarterly in arrears (or, if earlier in the case of LIBOR and SOFR loans, at the end of the applicable interest period). The Company's effective interest rate on its term loan borrowings, excluding the impact of interest rate swaps and cross currency interest rate swaps, for the nine months ended September 30, 2024 was approximately 10.3%. Other borrowings primarily relate to finance leases and equipment sale and lease back transaction .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitment In the ordinary course of business, the Company makes various commitments to purchase goods and services from specific suppliers, including those related to capital expenditures. As of September 30, 2024, the Company had approximately $242 million of outstanding non-cancellable purchase commitments, primarily relating to service, hosting, licensing and other information technology contracts, of which $85 million relates to the twelve months ending September 30, 2025. These purchase commitments extend through 2031. Guarantees The Company has obtained bank guarantees in respect of certain travel suppliers and real estate lease agreements amounting to $28 million. Certain of these bank guarantees require the Company to maintain cash collateral which has been presented as restricted cash within other non-current assets in the Company’s consolidated balance sheet. Legal Contingencies The Company recognizes legal fees as expense when the legal services are provided. Based on its current knowledge, and taking into consideration its litigation-related liabilities, the Company believes it is not a party to any pending legal proceeding or governmental examination that would have a material adverse effect on the Company’s consolidated financial condition or liquidity. Commitment and/or Contingency Related to the Merger Agreement The Merger Agreement, as discussed in note 1 - Business Description and Basis of Presentation , contains certain termination rights for each of GBTG and CWT, including the failure of the merger to be consummated by January 24, 2025 (the “Drop Dead Date”), which may be extended at the option of GBTG or CWT to May 24, 2025 (the “Extended Drop Dead Date”) and subsequently extended to September 24, 2025 (the “Second Extended Drop Dead Date”), in each case, if all conditions to the closing, other than certain conditions relating to antitrust laws or foreign investment laws, have been satisfied or waived on or prior to such date. If the Merger Agreement is terminated in certain instances for failure to consummate the merger by the Drop Dead Date (as a result of certain conditions relating to antitrust laws or foreign investment laws failing to be satisfied or waived), GBTG will be required to pay CWT a termination fee of $32 million. If GBTG, but not CWT, extends the Drop Dead Date and the Merger Agreement is subsequently terminated in certain instances for failure to consummate the merger by the Extended Drop Dead Date (as a result of certain conditions relating to antitrust laws or foreign investment laws failing to be satisfied or waived), GBTG will be required to pay CWT a termination fee of $33.5 million. If GBTG, but not CWT, extends the Extended Drop Dead Date and the Merger Agreement is subsequently terminated in certain instances for failure to consummate the merger by the Second Extended Drop Dead Date (as a result of certain conditions relating to antitrust laws or foreign investment laws failing to be satisfied or waived), GBTG will be required to pay CWT a termination fee of $35 million.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2024, the Company’s provision for income tax expense was $54 million and $55 million, respectively. GBTG’s effective tax rate for the three and nine months ended September 30, 2024 is different than the U.S. federal statutory corporate income tax rate of 21% due to changes to the valuation allowance for deferred tax assets, non-deductible expenses, and certain U.S. minimum taxes.

Earnout Shares

Earnout Shares	9 Months Ended
	Sep. 30, 2024
Earnout Shares
Earnout Shares	Earnout Shares Certain stockholders and employees are entitled to additional consideration in the form of “earnout shares” of the Company’s Class A common stock, to be issued in tranches, when the Company’s Class A common stock’s price achieves certain market share price milestones within specified periods. The earnout shares held by stockholders are accounted under Accounting Standard Codification 815, “ Derivatives and Hedging ” (“ASC 815”). Such guidance provides that because the earnout shares do not meet the criteria for equity treatment thereunder, earnout shares must be recorded as a liability. This liability is subject to re-measurement at each balance sheet date. With each such re-measurement, the earnout shares liability is adjusted to its fair value, with the change in fair value recognized in the Company’s consolidated statements of operations. The fair value of the earnout shares is estimated using the Monte Carlo simulation of the stock prices based on historical and implied market volatility (see note 15 – Fair Value Measurements ).

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation Management Incentive Plan The table below presents the activity of the Company's stock options for the nine months ended September 30, 2024: Number of Weighted Weighted Aggregate Balance as of December 31, 2023 19,589,907 $ 6.99 Exercised (3,409,801) $ 5.77 Balance as of September 30, 2024 16,180,106 $ 7.25 Exercisable as of September 30, 2024 15,009,354 $ 7.01 2.4 $ 17 Expected to vest as of September 30, 2024 1,170,752 $ 10.27 7.1 — 2022 Equity Incentive Plan During the nine months ended September 30, 2024, as part of its annual grant program, the Company granted 12 million RSUs under the 2022 Equity Incentive Plan to certain of its key employees and directors. The RSUs generally vest one-third annually on the first three anniversaries of the grant date. The vesting is conditional upon continued employment of the grantee through the applicable vesting period and subject to such other terms and conditions as set forth in the applicable restricted stock unit award agreement. The RSUs do not accrue dividends or dividend equivalent rights associated with the underlying stock. The fair value of the RSUs is determined to be the market price of the Company’s Class A common stock at the date of grant. The table below presents the activity of the Company’s RSUs for the nine months ended September 30, 2024: Number of RSUs Weighted Balance as of December 31, 2023 24,435,324 $ 6.86 Granted 12,325,720 $ 5.54 Forfeited (883,634) $ 6.41 Vested (10,260,781) $ 7.04 Balance as of September 30, 2024 25,616,629 $ 6.17 During the nine months ended September 30, 2024, the vested RSUs were net-share settled such that the Company withheld shares with value equivalent to no more than the employee’s maximum statutory obligation for applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. A total of 4,141,145 shares were withheld and were based on the value of the RSUs on their respective vesting dates as determined by the Company’s closing stock price. Total employees’ tax obligations to taxing authorities was $25 million of which $22 million was paid during the nine months ended September 30, 2024 and is reflected as a financing activity within the consolidated statements of cash flows. Employee Stock Purchase Plan (“ESPP”) During the nine months ended September 30, 2024, 1,437,375 shares were issued under the ESPP. Total equity-based compensation expense recognized in the Company’s consolidated statements of operations (i) for the three months ended September 30, 2024 and 2023 amount to $20 million and $19 million, respectively ($16 million and $14 million, net of taxes, respectively), and (ii) for the nine months ended September 30, 2024 and 2023 amount to $58 million and $60 million, respectively ($45 million and $45 million, net of taxes, respectively) and were included as follows: (in $ millions) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of revenue (excluding depreciation and amortization) $ 1 $ 1 $ 3 $ 3 Sales and marketing 5 6 15 24 Technology and content 5 5 15 13 General and administrative 9 7 25 20 Total $ 20 $ 19 $ 58 $ 60 As of September 30, 2024, the Company expects compensation expense related to (i) unvested stock options of less than $1 million to be recognized over the remaining weighted average period of less than 1 year and (ii) unvested RSUs of approximately $110 million to be recognized over the remaining weighted average period of 2 years.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) represents certain components of revenues, expenses, gains and losses that are included in comprehensive income (loss) but are excluded from net income (loss). Other comprehensive income (loss) amounts are recorded directly as an adjustment to total equity, net of tax. The changes in the accumulated other comprehensive loss, net of tax, were as follows: (in $ millions) Currency Defined Unrealized gain on Total accumulated Balance as of December 31, 2023 $ (52) $ (63) $ 12 $ (103) Net changes during the period, net of tax benefit 20 — (11) 9 Balance as of September 30, 2024 $ (32) $ (63) $ 1 $ (94) (in $ millions) Currency Defined Unrealized gain on Total accumulated Balance as of December 31, 2022 $ (10) $ (1) $ 4 $ (7) Net changes during the period, net of tax benefit (6) (1) — (7) Allocated to non-controlling interest (16) 1 1 (14) Re-classed from non-controlling interest upon corporate simplification transaction (59) (27) 23 (63) Balance as of September 30, 2023 $ (91) $ (28) $ 28 $ (91) Amounts in accumulated other comprehensive loss are presented net of the related tax impact. Reclassifications out of accumulated other comprehensive losses related to amortization of (i) actuarial gains (losses) and prior service costs (component of net periodic pension benefit (cost)) is included within other income (loss), net, and (ii) gain (loss) on termination of cash flow hedges is included within interest expense, in the Company’s consolidated statements of operations. Share Repurchase In August 2024, pursuant to a share repurchase agreement, GBTG repurchased 8 million shares of Class A common stock from a shareholder, in a privately negotiated transaction, at a purchase price of approximately $6.85 per share, or $55 million in aggregate. The shares repurchased are held as treasury shares, measured at cost based on the amount paid to repurchase the shares and is presented as a reduction of equity on the Company's consolidated balance sheets.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share is based on the average number of shares of Class A common stock outstanding during the period. Diluted earnings (loss) per share is based on the average number of shares of Class A common stock used for the basic earnings per share calculation, adjusted for the dilutive effect of (i) stock options and RSUs using the “treasury stock” method, and (ii) GBTG’s Class B common stock, using the “if converted” method, for the period they were outstanding. The Company has issued and outstanding approximately 23 million earnout shares, which are subject to forfeiture if the achievement of certain stock price thresholds are not met. In accordance with ASC 260, “ Earnings Per Share ,” earnout shares are excluded from weighted-average shares outstanding to calculate basic earnings (loss) per share as they are considered contingently issuable shares due to their potential forfeiture. Earnout shares will be included in weighted-average shares outstanding to calculate basic earnings (loss) per share as of the date their stock price thresholds are met and they are no longer subject to forfeiture. Additionally, dividends accrued on earnout shares, if any, will be forfeited if the pricing thresholds for earnout shares are not met during the specified time period. The Company has excluded 16 million stock options for the three and nine months ended September 30, 2024 and 20 million stock options for three and nine months ended September 30, 2023, from the calculation of diluted earnings (loss) per share as their inclusion would have resulted in anti-dilutive effect on loss per share. The Company has excluded 26 million RSUs for the three and nine months ended September 30, 2024 and 24 million RSUs for three and nine months ended September 30, 2023, from the calculation of diluted earnings (loss) per share as their inclusion would have resulted in anti-dilutive effect on loss per share. The following table reconciles the numerators and denominators used in the computation of basic and diluted loss per share from continuing operations: (in $ millions, except share and per share data) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Numerator – Basic and diluted loss per share: Net loss attributable to the Company’s Class A common stockholders (A) $ (129) $ — $ (122) $ (16) Add: Net loss attributable to non-controlling interests in subsidiaries — (8) — (74) Net loss attributable to the Company’s Class A common stockholders - Diluted (B) $ (129) $ (8) $ (122) $ (90) Denominator – Basic and diluted weighted average number of shares outstanding: Weighted average number of Class A Common Stock outstanding – Basic (C) 462,291,043 419,154,778 462,763,170 181,775,461 Assumed conversion of Class B Common Stock — 38,587,351 — 274,524,584 Weighted average number of Class A Common Stock outstanding – Diluted (D) 462,291,043 457,742,129 462,763,170 456,300,045 Basic loss per share attributable to the Company’s Class A common stockholders: (A) / (C) $ (0.28) $ — $ (0.26) $ (0.09) Diluted loss per share attributable to the Company’s Class A common stockholders: (B) / (D) $ (0.28) $ (0.02) $ (0.26) $ (0.20)

Derivatives and Hedging

Derivatives and Hedging	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging Except as mentioned below, the Company does not use derivative instruments to hedge exposures to cash flow, market or foreign currency risks. The Company does not hold or issue financial instruments for speculative or trading purposes. The Company does not offset derivative assets and liabilities within the consolidated balance sheets. Interest Rate Swaps The Company is subject to market risk exposure arising from changes in interest rates on debt, which bears interest at variable rates. Until July 26, 2024, the Company had interest rate risk primarily related to its senior secured term loans under the Original Credit Agreement which bore interest at a variable rate that was based on synthetic LIBOR or SOFR (subject to certain benchmark replacement provisions and certain interest rate floors, as applicable). Upon refinancing in July 2024, the Company has interest rate risk primarily related to its Term Loans and Revolving Loans (see note 7 - Long-term Debt ) which bear interest at a variable rate based on SOFR (subject to certain benchmark replacement provisions and certain interest rate floors, as applicable). In order to protect against potential higher interest costs resulting from anticipated increases in the variable rates, the Company, from time-to-time, has entered into interest rate swap contracts (discussed below) that fixed the benchmark interest rate with respect to a portion of its variable rate debt. In June 2022, the Company entered into an interest rate swap contract (subsequently amended in March 2023) for a notional amount of $600 million and maturity in March 2025. The terms of this agreement required the Company to receive a variable rate of three months Adjusted SOFR, and pay fixed rate of 3.6800%. In February 2023, the Company entered into another interest rate swap contract for a notional amount of $300 million and maturity in March 2027. The terms of the agreement required the Company to receive a variable rate of three months SOFR, with a floor of 0.90%, and pay fixed rate of 4.295%. These interest rate swaps were designated as cash flow hedges that were highly effective at offsetting the increases in cash outflows resulting from increased variable rates over the fixed rates under the swap contracts. The Company terminated both the interest rate swap contracts in September 2024 and made a payment to the counter-party of $4 million, in cash, representing the fair value of the contracts on the termination date. The Company simultaneously entered into two new interest rate swap agreements with the following terms: Notional Amount Period Fixed Interest Rate $400 September 2024 to July 2028 3.242 % $500 September 2024 to July 2029 3.226 % Under ASC 815, Derivatives and Hedging , the fair value loss of the terminated interest rate swaps of $4 million recorded in accumulated other comprehensive loss will be proportionately included as interest expense, in the consolidated statement of operations until March 2027 as the interest payments are made over this period. Further, the Company has determined that the new interest rate swap contracts will be designated as cash flow hedges that are highly effective at offsetting the increases in cash outflows when three-month SOFR exceeds respective fixed rates under the contracts. Changes in the fair value of the interest rate swaps, net of tax, are recognized in other comprehensive income (loss) and are reclassified out of accumulated other comprehensive income (loss) and into interest expense when the hedged interest obligations affect earnings. Cross Currency Interest Rate Swaps and Net Investment Hedges In August 2024, the Company entered into a fixed-to-fixed cross currency interest rate swap ("CCS") contract. Under the CCS, the Company will receive fixed interest at 7.5% per annum on a USD notional amount of $263 million and will pay fixed interest of 6.527% per annum on Euro ("EUR") notional amount of €240 million. Notional amounts in the respective currencies are deemed to be exchanged at the beginning and end of the swap period. The swaps maturity date is July 26, 2029. Interest settlements under the CCS occur semi-annually in January and July of each year, commencing on January 26, 2025, and ending on July 26, 2029. The Company has designated these CCS contracts as a net investment hedge, hedging foreign exchange translation risk related to a portion of its investments in EUR functional currency denominated subsidiaries on an after-tax basis. The Company has elected the spot method for measuring hedge effectiveness. As a result, the change in the fair value of CCS attributable to the changes in the spot rates are recorded in the cumulative translation adjustment (CTA) section of other comprehensive income (loss). The initial value of the excluded components are recognized in interest expense under a systematic and rational method in accordance with ASC 815. Any difference between the change in fair value of the excluded components and the amounts recognized in earnings under the swap accrual process are also reported in the CTA section of other comprehensive income (loss). Amounts related to the CCS representing net periodic interest accruals are recognized in “Interest expenses,” on the Company's consolidated statements of operations. Earnout Shares The Company has issued and outstanding earnout shares (see note 10 – Earnout Shares ) which are accounted for as derivative instruments. As of September 30, 2024, the total number of earnout shares issued and outstanding were approximately 23 million. The following table presents the balance sheet location and fair value of the Company’s derivative instruments, on a gross basis, under ASC 815: (in $ millions) Balance sheet September 30, 2024 December 31, 2023 Derivatives designated as hedging instruments Interest rate swaps Other non-current assets $ 1 $ 7 Interest rate swaps Other non-current liabilities $ — $ (5) Cross currency interest rate swaps Other non-current liabilities $ (12) $ — Derivatives not designated as hedging instruments Earnout shares Earnout derivative liabilities $ (91) $ (77) The table below presents the impact of changes in fair values of derivatives on other comprehensive income (loss) and on net loss: Amount of gain/(loss) recognized in Statement of Amount of gain/(loss) recognized in Three months ended Nine months ended Three months ended Nine months ended 2024 2023 2024 2023 2024 2023 2024 2023 Derivatives designated as hedging instruments Interest rate swaps $ (10) $ 3 $ (5) $ 6 NA — — — — Interest rate swaps re-classed to consolidated statements of operations (2) (2) (6) (6) Interest expense $ 2 $ 2 $ 6 $ 6 Cross currency interest rate swap (12) — (12) — NA — — — — Derivatives not designated as hedging instruments Earnout Shares — — — — Fair value movement on earnout derivative liabilities (22) 39 (14) 23 $ (20) $ 41 $ (8) $ 29 The Company expects $4 million of gain on the interest rate swap contracts to be reclassified from accumulated other comprehensive loss to net earnings as a credit to interest expense within the next 12 months.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial instruments which are measured at fair value, or for which a fair value is disclosed, are classified in the fair value hierarchy, as outlined below, on the basis of the observability of the inputs used in the fair value measurement: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 — Valuations based on quoted prices in active markets for similar assets or liabilities, quoted prices in non-active markets or for which all significant inputs, other than quoted prices, are observable either directly or indirectly, or for which unobservable inputs are corroborated by market data. Level 3 — Valuations based on inputs that are unobservable and significant to overall fair value measurement. As of September 30, 2024, the Company’s financial assets and liabilities recorded at fair value on a recurring basis consist of its derivative instruments — interest rate swaps, cross currency interest rate swaps and non-employee earnout shares. The fair value of the Company’s interest rate swaps has been primarily calculated by using a discounted cash flow analysis by taking the present value of the fixed and floating rate cash flows utilizing the appropriate forward SOFR curves and the counterparty’s credit risk, which was determined to be not material. The fair value of the Company’s cross currency interest rate swaps has been calculated by using discounted cash flows of the contracts using market observable inputs including currency spot and forward rates of the underlying currencies. The fair value of non-employee earnout shares is determined using the Monte Carlo valuation method. Presented below is a summary of the gross carrying value and fair value of the Company’s assets and liabilities measured at a fair value on a recurring basis: Asset/ (Liability) (in $ millions) Fair Value September 30, December 31, Interest rate swaps asset Level 2 $ 1 $ 7 Interest rate swap liability Level 2 — (5) Cross currency interest rate swap liability Level 2 (12) — Non-employee earnout shares Level 3 (91) (77) Inherent in the Monte Carlo valuation method are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimated the volatility of the earnout shares based on weighted average of its own share price volatility and implied historical volatility of select peer companies’ common stock that matches the expected remaining life of the earnout shares. The risk-free interest rate was based on the U.S. Treasury zero-coupon yield curve for a maturity similar to the expected remaining life of the earnout shares. The expected life of the earnout shares was assumed to be equivalent to their remaining contractual term. The Company anticipated the dividend rate will remain at zero. The following table presents the assumptions used for the measurement of the fair value of outstanding earnout shares liabilities: September 30, December 31, Stock price ($) $ 7.69 $ 6.45 Risk-free interest rate 3.61% 3.98% Volatility 45.0% 47.5% Expected term (years) 2.7 3.4 Expected dividends 0.0% 0.0% Fair value ($) (per earnout share – Tranche 1) $ 4.46 $ 3.71 Fair value ($) (per earnout share – Tranche 2) $ 3.45 $ 3.02 The following table presents changes in Level 3 financial liabilities measured at fair value during the nine months September 30, 2024: (in $ millions) Earnout Shares (Amount) Balance as of December 31, 2023 $ 77 Change in fair value 14 Balance as of September 30, 2024 $ 91 The Company does not measure its debt at fair value in its consolidated balance sheets. Where the fair value of the Company’s long-term debt is determined based on quoted prices in inactive markets for identical debt instruments, or for similar debt instruments, when traded as assets, it is categorized within Level 2 of the fair value hierarchy. Where quoted prices are not available, fair value is estimated using discounted cash flows and market-based expectation of interest rates, credit risks and the contractual term of the debt instruments and is categorized within Level 3 of the fair value hierarchy. The fair values of the Company’s outstanding senior secured term loans are as follows: September 30, 2024 December 31, 2023 (in $ millions) Fair Carrying amount (1) Fair value Carrying amount (1) Fair value Senior secured term loans - amended and restated Level 2 $ 1,375 $ 1,397 $ — $ — Senior secured initial term loans - original Level 2 $ — $ — $ 234 $ 236 Senior secured tranche B-3 term loans Level 3 $ — $ — $ 990 $ 1,013 Senior secured tranche B-4 term loans Level 3 $ — $ — $ 132 $ 137 _____________________________________________________________ (1) Outstanding principal amount of the relevant class of senior secured term loans less unamortized debt discount and debt issuance costs with respect to such loans. The carrying amounts of cash and cash equivalents, accounts receivable, due from affiliates, other current assets, accounts payable, due to affiliates and accrued expenses and other current liabilities approximate fair value due to the short-term maturities of these assets and liabilities.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The following summaries relate to certain related party transactions entered into by the Company with certain of its shareholders, its shareholders' affiliates and the Company's affiliates. Commercial Agreements The Company has various commercial agreements with affiliates of American Express International, Inc. ("American Express"). In respect of such agreements, included in the operating costs are costs of approximately $9 million and $7 million for the three months ended September 30, 2024 and 2023, respectively, and costs of $28 million and $22 million for charges from affiliates of American Express for the nine months ended September 30, 2024 and 2023, respectively. Revenues also include revenue from affiliates of American Express of approximately $2 million and $7 million for the three months ended September 30, 2024 and 2023, respectively, and revenue of $6 million and $19 million for the nine months ended September 30, 2024 and 2023, respectively. Amounts payable to affiliates of American Express under these agreements, which include amounts collected by the Company on behalf of affiliates of American Express, as of September 30, 2024 and December 31, 2023, were $19 million and $25 million, respectively. Amounts receivable from affiliates of American Express under these agreements were $1 million and $15 million as of September 30, 2024 and December 31, 2023, respectively. In November 2021, the Company and an affiliate of EG Corporate Travel Holdings LLC (“Expedia") entered into a ten-year term marketing partner agreement to provide the Company’s corporate clients with access to Expedia and it's affiliates' hotel content. As a result of this agreement, the Company recognized revenue of $40 million and $40 million for the three months ended September 30, 2024 and 2023, respectively, and $138 million and $122 million for the nine months ended September 30, 2024 and 2023, respectively. The Company had $43 million and $20 million receivable from the affiliate of Expedia as of September 30, 2024 and December 31, 2023, respectively. In November 2021, the Company and an affiliate of Expedia entered into a Transition Services Agreement (as amended from time to time) pursuant to which the affiliate of Expedia provided certain transition services to the Company through April 30, 2024 to facilitate an orderly transfer of Egencia from the Expedia affiliate to the Company. On May 1, 2024, the parties entered into an Operating Agreement whereby the affiliate of Expedia would continue to provide certain operational services in support of the Egencia business for up to eighteen months. The total cost charged to the Company for the three months ended September 30, 2024 and 2023, was approximately $3 million and $6 million, respectively, and for the nine months ended September 30, 2024 and 2023, was $12 million and $20 million, respectively, which was included in the Company’s consolidated statements of operations. As of September 30, 2024 and December 31, 2023, the Company had a payable to an affiliate of Expedia of $2 million and $3 million, respectively. Further, as of September 30, 2024 and December 31, 2023, Egencia had a net receivable of $0 and $5 million, respectively, from affiliates of Expedia, primarily on account of net cash collected from customers by affiliates of Expedia on behalf of Egencia. As of September 30, 2024 and December 31, 2023, the Company had $7 million and $11 million payable to an affiliate of Expedia on account of a loss contingency recognized in 2022. License of American Express Trademarks In May 2022, the Company and an affiliate of American Express entered into a long-term, 11-year amended and restated trademark license agreement (unless earlier terminated or extended) pursuant to which the affiliate of GBTG was granted an exclusive, non-assignable, worldwide, royalty-free license to use, and the right to sublicense to all wholly-owned operating subsidiaries of GBTG and other permitted sublicensees the right to use, the American Express trademarks used in the American Express Global Business Travel and American Express GBT Meetings & Events brands for business travel, meetings and events, business consulting and other services related to business travel (“Business Travel Services”). The amended and restated trademark license agreement also provides GBTG the flexibility to operate non-Business Travel Services businesses under brands that do not use any trademarks owned by American Express, subject to certain permissibility and other requirements. Shareholders Agreement In 2022, GBTG, GBT JerseyCo, an affiliate of American Express, Expedia and Juweel Investors (SPC) Limited ("Juweel") entered into a shareholders agreement, dated as of May 27, 2022 (as further clarified by those certain letters dated November 17, 2022, and July 10, 2023, the “Original Shareholders Agreement”). In January 2024, Juweel distributed all of its equity interests in GBTG and GBT JerseyCo to its equityholders, including Q.H. Travel LP ("QIA"). On January 11, 2024, GBTG entered into an amended and restated Shareholders Agreement (as amended and restated, the "Shareholders Agreement") with GBT JerseyCo, American Express, Expedia and QIA, pursuant to which, among other things, Juweel was removed as a party to the Shareholders Agreement and QIA was made subject to certain obligations and provided with certain rights previously provided to Juweel. On January 11, 2024, GBTG also entered into a letter agreement with GBT JerseyCo, Juweel, American Express, Expedia, QIA and Juweel's other equityholders (the "Specified Juweel Investors"), pursuant to which the Specified Juweel Investors agreed to be bound by certain restrictive covenants in the Shareholders Agreement as if they were a party thereto. The Shareholders Agreement sets forth various restrictions, limitations and other terms concerning the transfer of equity securities of GBTG and GBT JerseyCo by the parties thereto (other than, in most circumstances, the GBT JerseyCo A Ordinary Shares). Among other matters, and subject to certain terms, conditions and exceptions, the Shareholders Agreement prohibits American Express, Expedia and QIA, severally and not jointly, from effecting transfers of such equity securities to certain specified restricted persons, as well as transfers that would violate applicable securities laws. The Shareholders Agreement also sets out the composition and appointment of the GBTG Board, and provides for various provisions for transfer of shares, shareholder rights and termination of such rights. Loan to equity affiliate As of December 31, 2023, the Company had a loan receivable of $5 million from one of its equity affiliates which was received in June 2024.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2024, the Company’s Board of Directors authorized the Company's management to repurchase shares of the Company’s Class A common stock through December 31, 2027 in an amount not to exceed $300 million. Under the share repurchase program, the Company is authorized to repurchase, on a discretionary basis and from time-to-time, outstanding shares of the Company's Class A common stock by means of open market transactions, privately negotiated transactions, and/or by other means deemed appropriate or advisable by Company management. The timing, manner, price and amount of any repurchases will be subject to the Company's discretion and depend on a variety of factors, including the market price of the Company’s Class A common stock, general market and economic conditions, regulatory requirements and other business considerations. The share repurchase program may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its Class A common stock under the program.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures in the consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, supplier revenue, allowance for credit losses, depreciable lives of property and equipment, acquisition purchase price allocations including valuation of acquired intangible assets and goodwill and contingent consideration, valuation of operating lease right-of-use (“ROU”) assets, impairment of goodwill, other intangible assets, long-lived assets, capitalized client incentives and investments in equity method investments, valuation allowances on deferred income taxes, valuation of pensions, interest rate swaps, cross currency interest rate swaps, earnout shares and contingent liabilities. Actual results could differ materially from those estimates.
Accounting Pronouncements - Adopted and Not Yet Adopted	Accounting Pronouncements - Adopted The Company did not adopt any new accounting pronouncements during the nine months ended September 30, 2024. Accounting Pronouncements - Not Yet Adopted
Segment Reporting	Segment Reporting In November 2023, the FASB issued ASU No. 2023-07, " Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures " which expands the segment reporting disclosures and primarily requires disclosures on (i) significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and are included within each reported measure of segment operating results, (ii) the total amount of any other items included in segment operating results which were not deemed to be significant expenses for separate disclosure, along with a qualitative description of the composition of these other items and (iii) CODM’s title and position and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing performance and deciding how to allocate resources. The update also aligns interim segment reporting disclosure requirements with annual segment reporting disclosure requirements. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis, with early adoption permitted. While the update will require additional disclosures related to the Company’s segment, it is not expected to have any impact on the Company’s consolidated operating results, financial condition or cash flows.
Income Taxes	Income Taxes In December 2023, the FASB issued ASU No. 2023-09, " Income Taxes (Topic 740): Improvements to Income Tax Disclosures ". The update primarily requires the Company to provide (i) further disaggregation for specific categories on the effective tax rate reconciliation, as well as additional information about federal, state/local and foreign income taxes and (ii) annually disclose its income taxes paid (net of refunds received), disaggregated by jurisdiction. The update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The update is to be applied on a prospective basis, although optional retrospective application is permitted. While the update will require additional disclosures related to the Company’s income taxes, it is not expected to have any impact on the Company’s consolidated operating results, financial condition or cash flows.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of disaggregation of revenue	The following table presents the Company’s disaggregated revenue by nature of service. Sales and usage-based taxes are excluded from revenue. Three months ended September 30, Nine months ended September 30, (in $ millions) 2024 2023 2024 2023 Travel revenue $ 478 $ 455 $ 1,476 $ 1,401 Product and professional services revenue $ 119 116 356 340 Total revenue $ 597 $ 571 $ 1,832 $ 1,741
Schedule of accounts receivable, net, and contract liabilities	The opening and closing balances of the Company’s accounts receivable, net, and contract liabilities are as follows: Contract (in $ millions) Accounts receivable, net Client Deferred Balance as of September 30, 2024 $ 690 $ 19 $ 35 Balance as of December 31, 2023 $ 725 $ 9 $ 19

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consist of: (in $ millions) September 30, December 31, Prepaid technology costs $ 44 $ 36 Prepaid travel expenses 35 13 Value added and similar taxes receivables 9 10 Income tax receivable 7 12 Other prepayments and receivables 40 45 Prepaid expenses and other current assets $ 135 $ 116

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consist of: (in $ millions) September 30, December 31, Accrued payroll and related costs $ 177 $ 184 Accrued operating expenses 172 160 Client deposits 63 53 Deferred revenue 35 19 Accrued interest payable 22 5 Accrued restructuring costs (see note 6) 18 30 Value added and similar taxes payable 10 12 Other payables 7 3 Accrued expenses and other current liabilities $ 504 $ 466

Restructuring, Exit and Relat_2

Restructuring, Exit and Related Charges (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of accrued restructuring and related cost	The table below sets forth accrued restructuring, exit and related costs included in accrued expenses and other current liabilities, for the nine months ended September 30, 2024: (in $ millions) Employee Related Facility - Non-Lease Related Facility - Lease Related Total Balance as of December 31, 2023 $ 26 $ 4 $ — $ 30 Accruals 8 2 5 15 Non-cash items — — (5) (5) Cash settled (21) (1) — (22) Balance as of September 30, 2024 $ 13 $ 5 $ — $ 18

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Long-Term Debt, Unclassified [Abstract]
Schedule of outstanding amount of long-term debt	The outstanding amount of the Company’s long-term debt consists of: (in $ millions) September 30, December 31, Amended and Restated Senior Secured Credit Agreement Principal amount of senior secured term loans (Maturity - July 2031) $ 1,400 $ — Original Senior Secured Credit Agreement Principal amount of senior secured initial term loans — 237 Principal amount of senior secured tranche B-3 term loans — 1,000 Principal amount of senior secured tranche B-4 term loans — 135 Other borrowings 9 6 1,409 1,378 Less: Unamortized debt discount and debt issuance costs (25) (16) Total debt, net of unamortized debt discount and debt issuance costs 1,384 1,362 Less: Current portion of long-term debt (16) (7) Long-term debt, non-current, net of unamortized debt discount and debt issuance costs $ 1,368 $ 1,355

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of activity of options granted under the Plan	The table below presents the activity of the Company's stock options for the nine months ended September 30, 2024: Number of Weighted Weighted Aggregate Balance as of December 31, 2023 19,589,907 $ 6.99 Exercised (3,409,801) $ 5.77 Balance as of September 30, 2024 16,180,106 $ 7.25 Exercisable as of September 30, 2024 15,009,354 $ 7.01 2.4 $ 17 Expected to vest as of September 30, 2024 1,170,752 $ 10.27 7.1 —
Schedule of activity of RSUs granted under the 2022 Plan	The table below presents the activity of the Company’s RSUs for the nine months ended September 30, 2024: Number of RSUs Weighted Balance as of December 31, 2023 24,435,324 $ 6.86 Granted 12,325,720 $ 5.54 Forfeited (883,634) $ 6.41 Vested (10,260,781) $ 7.04 Balance as of September 30, 2024 25,616,629 $ 6.17
Schedule of equity-based compensation expense recognized in consolidated statements of operations	Total equity-based compensation expense recognized in the Company’s consolidated statements of operations (i) for the three months ended September 30, 2024 and 2023 amount to $20 million and $19 million, respectively ($16 million and $14 million, net of taxes, respectively), and (ii) for the nine months ended September 30, 2024 and 2023 amount to $58 million and $60 million, respectively ($45 million and $45 million, net of taxes, respectively) and were included as follows: (in $ millions) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Cost of revenue (excluding depreciation and amortization) $ 1 $ 1 $ 3 $ 3 Sales and marketing 5 6 15 24 Technology and content 5 5 15 13 General and administrative 9 7 25 20 Total $ 20 $ 19 $ 58 $ 60

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of changes in the accumulated other comprehensive loss, net of tax	The changes in the accumulated other comprehensive loss, net of tax, were as follows: (in $ millions) Currency Defined Unrealized gain on Total accumulated Balance as of December 31, 2023 $ (52) $ (63) $ 12 $ (103) Net changes during the period, net of tax benefit 20 — (11) 9 Balance as of September 30, 2024 $ (32) $ (63) $ 1 $ (94) (in $ millions) Currency Defined Unrealized gain on Total accumulated Balance as of December 31, 2022 $ (10) $ (1) $ 4 $ (7) Net changes during the period, net of tax benefit (6) (1) — (7) Allocated to non-controlling interest (16) 1 1 (14) Re-classed from non-controlling interest upon corporate simplification transaction (59) (27) 23 (63) Balance as of September 30, 2023 $ (91) $ (28) $ 28 $ (91)

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of earnings (loss) per share basic and diluted	The following table reconciles the numerators and denominators used in the computation of basic and diluted loss per share from continuing operations: (in $ millions, except share and per share data) Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Numerator – Basic and diluted loss per share: Net loss attributable to the Company’s Class A common stockholders (A) $ (129) $ — $ (122) $ (16) Add: Net loss attributable to non-controlling interests in subsidiaries — (8) — (74) Net loss attributable to the Company’s Class A common stockholders - Diluted (B) $ (129) $ (8) $ (122) $ (90) Denominator – Basic and diluted weighted average number of shares outstanding: Weighted average number of Class A Common Stock outstanding – Basic (C) 462,291,043 419,154,778 462,763,170 181,775,461 Assumed conversion of Class B Common Stock — 38,587,351 — 274,524,584 Weighted average number of Class A Common Stock outstanding – Diluted (D) 462,291,043 457,742,129 462,763,170 456,300,045 Basic loss per share attributable to the Company’s Class A common stockholders: (A) / (C) $ (0.28) $ — $ (0.26) $ (0.09) Diluted loss per share attributable to the Company’s Class A common stockholders: (B) / (D) $ (0.28) $ (0.02) $ (0.26) $ (0.20)

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of interest rate swap agreements	The Company simultaneously entered into two new interest rate swap agreements with the following terms: Notional Amount Period Fixed Interest Rate $400 September 2024 to July 2028 3.242 % $500 September 2024 to July 2029 3.226 %
Schedule of balance sheet location and fair value of company's derivative instruments, on a gross basis, under ASC 815	The following table presents the balance sheet location and fair value of the Company’s derivative instruments, on a gross basis, under ASC 815: (in $ millions) Balance sheet September 30, 2024 December 31, 2023 Derivatives designated as hedging instruments Interest rate swaps Other non-current assets $ 1 $ 7 Interest rate swaps Other non-current liabilities $ — $ (5) Cross currency interest rate swaps Other non-current liabilities $ (12) $ — Derivatives not designated as hedging instruments Earnout shares Earnout derivative liabilities $ (91) $ (77)
Schedule of impact of changes in fair values of derivatives on other comprehensive income (loss) and on net income (loss)	The table below presents the impact of changes in fair values of derivatives on other comprehensive income (loss) and on net loss: Amount of gain/(loss) recognized in Statement of Amount of gain/(loss) recognized in Three months ended Nine months ended Three months ended Nine months ended 2024 2023 2024 2023 2024 2023 2024 2023 Derivatives designated as hedging instruments Interest rate swaps $ (10) $ 3 $ (5) $ 6 NA — — — — Interest rate swaps re-classed to consolidated statements of operations (2) (2) (6) (6) Interest expense $ 2 $ 2 $ 6 $ 6 Cross currency interest rate swap (12) — (12) — NA — — — — Derivatives not designated as hedging instruments Earnout Shares — — — — Fair value movement on earnout derivative liabilities (22) 39 (14) 23 $ (20) $ 41 $ (8) $ 29

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of gross carrying value and fair value of Company's assets and liabilities measured at fair value on recurring basis	Presented below is a summary of the gross carrying value and fair value of the Company’s assets and liabilities measured at a fair value on a recurring basis: Asset/ (Liability) (in $ millions) Fair Value September 30, December 31, Interest rate swaps asset Level 2 $ 1 $ 7 Interest rate swap liability Level 2 — (5) Cross currency interest rate swap liability Level 2 (12) — Non-employee earnout shares Level 3 (91) (77)
Schedule of assumptions used for the measurement of the fair value of outstanding earnout shares liabilities	The following table presents the assumptions used for the measurement of the fair value of outstanding earnout shares liabilities: September 30, December 31, Stock price ($) $ 7.69 $ 6.45 Risk-free interest rate 3.61% 3.98% Volatility 45.0% 47.5% Expected term (years) 2.7 3.4 Expected dividends 0.0% 0.0% Fair value ($) (per earnout share – Tranche 1) $ 4.46 $ 3.71 Fair value ($) (per earnout share – Tranche 2) $ 3.45 $ 3.02
Schedule of changes in Level 3 financial liabilities measured at fair value	The following table presents changes in Level 3 financial liabilities measured at fair value during the nine months September 30, 2024: (in $ millions) Earnout Shares (Amount) Balance as of December 31, 2023 $ 77 Change in fair value 14 Balance as of September 30, 2024 $ 91
Schedule of fair values of the company's outstanding senior secured term loans	The fair values of the Company’s outstanding senior secured term loans are as follows: September 30, 2024 December 31, 2023 (in $ millions) Fair Carrying amount (1) Fair value Carrying amount (1) Fair value Senior secured term loans - amended and restated Level 2 $ 1,375 $ 1,397 $ — $ — Senior secured initial term loans - original Level 2 $ — $ — $ 234 $ 236 Senior secured tranche B-3 term loans Level 3 $ — $ — $ 990 $ 1,013 Senior secured tranche B-4 term loans Level 3 $ — $ — $ 132 $ 137 _____________________________________________________________ (1) Outstanding principal amount of the relevant class of senior secured term loans less unamortized debt discount and debt issuance costs with respect to such loans.

Business Description and Basi_2

Business Description and Basis of Presentation (Details) $ / shares in Units, shares in Millions, $ in Millions		9 Months Ended
	Mar. 24, 2024 USD ($) $ / shares shares	Sep. 30, 2024 segment $ / shares	Dec. 31, 2023 $ / shares
Business Description and Basis of Presentation
Number of reportable segments | segment		1
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
CWT Holdings LLC
Business Description and Basis of Presentation
Consideration transferred | $	$ 570
CWT Holdings LLC | Class A common stock
Business Description and Basis of Presentation
Number of shares issued (in shares) | shares	72
Common stock, par value (in dollars per share)	$ 0.0001
Share price (in dollars per share)	$ 6

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregated Revenue by Nature of Service (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contracts with Customers
Total revenue	$ 597	$ 571	$ 1,832	$ 1,741
Travel revenue
Revenue from Contracts with Customers
Total revenue	478	455	1,476	1,401
Product and professional services revenue
Revenue from Contracts with Customers
Total revenue	$ 119	$ 116	$ 356	$ 340

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contracts with Customers
Revenue recognized		$ 14
Minimum
Revenue from Contracts with Customers
Invoice payment period (in days)	30 days
Maximum
Revenue from Contracts with Customers
Invoice payment period (in days)	60 days

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Opening and Closing Contract Balances (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 690	$ 725
Client incentives, net (non-current)	19	9
Deferred revenue (current)	$ 35	$ 19

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid technology costs	$ 44	$ 36
Prepaid travel expenses	35	13
Value added and similar taxes receivables	9	10
Income tax receivable	7	12
Other prepayments and receivables	40	45
Prepaid expenses and other current assets	$ 135	$ 116

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued payroll and related costs	$ 177	$ 184
Accrued operating expenses	172	160
Client deposits	63	53
Deferred revenue	35	19
Accrued interest payable	22	5
Accrued restructuring costs (see note 6)	18	30
Value added and similar taxes payable	10	12
Other payables	7	3
Accrued expenses and other current liabilities	$ 504	$ 466

Restructuring, Exit and Relat_3

Restructuring, Exit and Related Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 2	$ 12	$ 8	$ 40
Accruals			15
General and administrative | Facility - Lease Related
Restructuring Cost and Reserve [Line Items]
Accruals	4	1	4	7
Depreciation And Amortization Expenses | Facility - Lease Related
Restructuring Cost and Reserve [Line Items]
Accruals	1	0	1	3
Restructuring Charges | Facilities Consolidation, Non-Lease Components
Restructuring Cost and Reserve [Line Items]
Accruals	$ 2	$ 0	$ 2	$ 2

Restructuring, Exit and Relat_4

Restructuring, Exit and Related Charges - Accrued Restructuring and Related Costs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 30
Accruals	15
Non-cash items	(5)
Cash settled	(22)
Ending balance	18
Employee Related
Restructuring Reserve [Roll Forward]
Beginning balance	26
Accruals	8
Non-cash items	0
Cash settled	(21)
Ending balance	13
Facility - Non-Lease Related
Restructuring Reserve [Roll Forward]
Beginning balance	4
Accruals	2
Non-cash items	0
Cash settled	(1)
Ending balance	5
Facility - Lease Related
Restructuring Reserve [Roll Forward]
Beginning balance	0
Accruals	5
Non-cash items	(5)
Cash settled	0
Ending balance	$ 0

Long-term Debt - Summary of Out

Long-term Debt - Summary of Outstanding Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Long-term Debt
Long-term debt, gross	$ 1,409	$ 1,378
Less: Unamortized debt discount and debt issuance costs	(25)	(16)
Total debt, net of unamortized debt discount and debt issuance costs	1,384	1,362
Less: Current portion of long-term debt	(16)	(7)
Long-term debt, non-current, net of unamortized debt discount and debt issuance costs	1,368	1,355
Amended and Restated Senior Secured Credit Agreement | Line of Credit | Secured Debt
Long-term Debt
Long-term debt, gross	1,400	0
Senior secured initial term loans | Line of Credit | Secured Debt
Long-term Debt
Long-term debt, gross	0	237
Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Secured Debt
Long-term Debt
Long-term debt, gross	0	1,000
Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Secured Debt
Long-term Debt
Long-term debt, gross	0	135
Original Senior Secured Credit Agreement | Other borrowings
Long-term Debt
Long-term debt, gross	$ 9	$ 6

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 26, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Long-term Debt
Loss on early extinguishment of debt		$ (38)	$ 0	$ (38)	$ 0
Payments of debt issuance costs				$ 25	$ 2
Minimum
Long-term Debt
Unconditional guarantee, percentage of consolidated assets				70%
A&R Credit Agreement
Long-term Debt
Leverage ratio				0.0350
A&R Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate	3%
A&R Credit Agreement | Line of Credit | Base Rate
Long-term Debt
Applicable margin on interest rate	2%
Secured Debt | Senior secured initial term loans | Line of Credit
Long-term Debt
Unused commitment fee				0.375%
Effective interest rate		10.30%		10.30%
Secured Debt | Senior secured initial term loans | Line of Credit | Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate				0.10%
Secured Debt | A&R Credit Agreement | Line of Credit
Long-term Debt
Principal amount	$ 1,400
Percentage of amortization rate	1%
Percentage of prepayment premium	1%
Percentage of annual excess cash flow	50%
Percentage of net cash proceeds from certain asset sales and casualty events	100%
Percentage of net cash proceeds from the incurrence of certain indebtedness	100%
Remaining borrowing capacity		$ 360		$ 360
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Minimum
Long-term Debt
Applicable margin on interest rate				5.25%
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Maximum
Long-term Debt
Applicable margin on interest rate				6.75%
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate				0.10%
Basis floor				1%
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Minimum
Long-term Debt
Applicable margin on interest rate				4.75%
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Maximum
Long-term Debt
Applicable margin on interest rate				6.25%
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate						6%
Secured Debt | Senior Secured Tranche B-3 Credit Agreement | Line of Credit | Synthetic London Interbank Offered Rate 1 (LIBOR)
Long-term Debt
Applicable margin on interest rate						2.50%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Minimum
Long-term Debt
Applicable margin on interest rate				5.25%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Maximum
Long-term Debt
Applicable margin on interest rate				6.75%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate				0.10%
Basis floor				1%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Minimum
Long-term Debt
Applicable margin on interest rate				4.75%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Maximum
Long-term Debt
Applicable margin on interest rate				6.25%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate						6%
Secured Debt | Senior Secured Tranche B-4 Credit Agreement | Line of Credit | Synthetic London Interbank Offered Rate 1 (LIBOR)
Long-term Debt
Applicable margin on interest rate						2.50%
Senior secured revolving credit facility | Senior secured initial term loans | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate						5.50%
Senior secured revolving credit facility | A&R Credit Agreement | Line of Credit
Long-term Debt
Principal amount	$ 360
Unused commitments	0.375%
Debt instrument, covenant, percentage of average daily unused commitments after debt rating upgrade	0.25%
Senior secured revolving credit facility | A&R Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)
Long-term Debt
Applicable margin on interest rate	2.75%
Senior secured revolving credit facility | A&R Credit Agreement | Line of Credit | Base Rate
Long-term Debt
Applicable margin on interest rate	1.75%
Line of credit, foreign currencies | A&R Credit Agreement | Line of Credit
Long-term Debt
Line of credit facility, maximum borrowing capacity	$ 150
Letters of credit | Senior secured initial term loans | Line of Credit
Long-term Debt
Borrowing utilized						$ 7
Remaining borrowing capacity						$ 43
Letters of credit | A&R Credit Agreement
Long-term Debt
Debt instrument, covenant, letter of credit sublimit exclusion				$ 10
Letters of credit | A&R Credit Agreement | Minimum
Long-term Debt
Percentage of outstanding loans and letter of credit exceeds the aggregate principal amount				35%
Letters of credit | A&R Credit Agreement | Line of Credit
Long-term Debt
Line of credit facility, maximum borrowing capacity	50
Bridge Loan | A&R Credit Agreement | Line of Credit
Long-term Debt
Line of credit facility, maximum borrowing capacity	$ 50

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 24, 2024
Loss Contingencies [Line Items]
Outstanding non-cancellable purchase commitments	$ 242
Non-cancellable purchase commitments related to the next twelve months	85
Bank guarantees	$ 28
CWT Holdings LLC
Loss Contingencies [Line Items]
Failure to consummate, termination fee		$ 32
Failure to consummate, termination fee, first extension		33.5
Failure to consummate, termination fee, second extension		$ 35

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 54	$ (2)	$ 55	$ (12)

Earnout Shares (Details)

Earnout Shares (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnout Shares
Fair value of the earnout shares liability	$ 91		$ 91
Gain (loss) on fair value change in earnout shares liability	$ (22)	$ 39	$ (14)	$ 23

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Stock Options (Details) - Management Incentive Plan - Stock options - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024
Number of stock options
Beginning balance (in shares)	19,589,907
Exercised (in shares)	(3,409,801)
Ending balance (in shares)	16,180,106
Exercisable as of period end (in shares)	15,009,354
Expected to vest as of period end (in shares)	1,170,752
Weighted average exercise price per stock option
Beginning balance (in dollars per share)	$ 6.99
Exercised (in dollars per share)	5.77
Ending balance (in dollars per share)	7.25
Exercisable as of period end (in dollars per share)	7.01
Expected to vest as of period end (in dollars per share)	$ 10.27
Weighted average remaining contractual term (in years)
Exercisable as of period end	2 years 4 months 24 days
Expected to vest as of period end	7 years 1 month 6 days
Aggregate intrinsic value (in $ millions)
Exercisable as of period end	$ 17

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity-Based Compensation
Payment for employee's tax obligations			$ 22	$ 14
Equity-based compensation expense after tax	$ 16	$ 14	45	45
Employee Stock Purchase Plan
Equity-Based Compensation
Equity-based compensation expense	20	$ 19	$ 58	$ 60
Employee Stock Purchase Plan | Class A common stock
Equity-Based Compensation
Shares purchased (in shares)			1,437,375
RSU
Equity-Based Compensation
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition (in years)			2 years
Compensation expense related to unvested RSUs to be recognized	110		$ 110
RSU | Equity Incentive Plan 2022
Equity-Based Compensation
Awards granted (in shares)			12,000,000
Share-based compensation arrangement by share-based payment award anniversaries ratio			33.33%
Annual vesting percentage			33.33%
Number of shares withheld to cover the option costs and taxes (in shares)			4,141,145
Payment for employee's tax obligations			$ 25
RSU | Equity Incentive Plan 2022 | Class A common stock
Equity-Based Compensation
Awards granted (in shares)			12,325,720
Employee Stock Option
Equity-Based Compensation
Compensation expense related to unvested GBTG MIP options to be recognized	$ 1		$ 1
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition (in years)			1 year

Equity-Based Compensation - S_2

Equity-Based Compensation - Summary of RSU Activity (Details) - 2022 Plan - RSU	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of RSUs
Granted (in shares)	12,000,000
Class A common stock
Number of RSUs
Beginning balance (in shares)	24,435,324
Granted (in shares)	12,325,720
Forfeited (in shares)	(883,634)
Vested (in shares)	(10,260,781)
Ending balance (in shares)	25,616,629
Weighted average grant date fair value
Beginning balance (in dollars per share) | $ / shares	$ 6.86
Granted (in dollars per share) | $ / shares	5.54
Forfeited (in dollars per share) | $ / shares	6.41
Vested (in dollars per share) | $ / shares	7.04
Ending balance (in dollars per share) | $ / shares	$ 6.17

Equity-Based Compensation - S_3

Equity-Based Compensation - Summary of Equity-based Compensation Expense (Details) - Employee Stock Purchase Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Equity-Based Compensation
Equity-based compensation expense	$ 20	$ 19	$ 58	$ 60
Cost of revenue (excluding depreciation and amortization)
Equity-Based Compensation
Equity-based compensation expense	1	1	3	3
Sales and marketing
Equity-Based Compensation
Equity-based compensation expense	5	6	15	24
Technology and content
Equity-Based Compensation
Equity-based compensation expense	5	5	15	13
General and administrative
Equity-Based Compensation
Equity-based compensation expense	$ 9	$ 7	$ 25	$ 20

Shareholders' Equity - Changes

Shareholders' Equity - Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,212	$ 1,371
Ending balance	1,106	1,255
Currency translation adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(52)	(10)
Net changes during the period, net of tax benefit	20	(6)
Allocated to non-controlling interest		(16)
Re-classed from non-controlling interest upon corporate simplification transaction		(59)
Ending balance	(32)	(91)
Defined benefit plan related
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(63)	(1)
Net changes during the period, net of tax benefit	0	(1)
Allocated to non-controlling interest		1
Re-classed from non-controlling interest upon corporate simplification transaction		(27)
Ending balance	(63)	(28)
Unrealized gain on cash flow hedge
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	12	4
Net changes during the period, net of tax benefit	(11)	0
Allocated to non-controlling interest		1
Re-classed from non-controlling interest upon corporate simplification transaction		23
Ending balance	1	28
Total accumulated other comprehensive loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(103)	(7)
Net changes during the period, net of tax benefit	9	(7)
Allocated to non-controlling interest		(14)
Re-classed from non-controlling interest upon corporate simplification transaction		(63)
Ending balance	$ (94)	$ (91)

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Aug. 31, 2024	Sep. 30, 2024
Shareholders' Equity
Treasury stock acquired (in dollars per share)	$ 6.85
Treasury stock, value, acquired	$ 55	$ 55
Class A common stock
Shareholders' Equity
Treasury stock, shares, acquired (in shares)	8

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings (Loss) Per Share
Earnout shares subject to forfeiture if achievement of stock prices are not met (in shares)			23
Employee Stock Option
Earnings (Loss) Per Share
Shares excluded from the calculation of diluted loss per share as their inclusion would have resulted in anti-dilutive effect on loss per share (in shares)	16	20	16	20
RSU
Earnings (Loss) Per Share
Shares excluded from the calculation of diluted loss per share as their inclusion would have resulted in anti-dilutive effect on loss per share (in shares)	26	24	26	24

Earnings (Loss) Per Share- Reco

Earnings (Loss) Per Share- Reconciliation of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator – Basic and diluted loss per share:
Net loss attributable to the Company’s Class A common stockholders (A)	$ (129)	$ 0	$ (122)	$ (16)
Add: Net loss attributable to non-controlling interests in subsidiaries	0	(8)	0	(74)
Net loss attributable to the Company’s Class A common stockholders - Diluted (B)	$ (129)	$ (8)	$ (122)	$ (90)
Denominator – Basic and diluted weighted average number of shares outstanding:
Weighted average number of Class A Common Stock outstanding – Basic (in shares)	462,291,043	419,154,778	462,763,170	181,775,461
Assumed conversion of Class B Common Stock (in shares)	0	38,587,351	0	274,524,584
Weighted average number of Class A Common Stock outstanding – Diluted (in shares)	462,291,043	457,742,129	462,763,170	456,300,045
Basic loss per share attributable to the Company’s Class A common stockholders (in dollars per share)	$ (0.28)	$ 0	$ (0.26)	$ (0.09)
Diluted loss per share attributable to the Company’s Class A common stockholders (in dollars per share)	$ (0.28)	$ (0.02)	$ (0.26)	$ (0.20)

Derivatives and Hedging - Narra

Derivatives and Hedging - Narrative (Details) € in Millions, shares in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($) shares	Aug. 31, 2024 USD ($)	Aug. 31, 2024 EUR (€)	Mar. 31, 2023 USD ($)	Feb. 28, 2023 USD ($)
Derivatives and Hedging
Total expected gain	$ 4
Earnout shares
Derivatives and Hedging
Number of shares outstanding (in shares) | shares	23
Number of shares issued (in shares) | shares	23
Interest rate swaps
Derivatives and Hedging
Other comprehensive income (loss), cash Flow hedge, gain (loss)	$ 4
Interest rate swaps | Notional Amount of $600 million expiring on 2025
Derivatives and Hedging
Notional amount				$ 600
Derivative fixed interest rate				3.68%
Interest rate swaps | Notional Amount of $300 million expiring on 2027
Derivatives and Hedging
Notional amount					$ 300
Derivative fixed interest rate					4.295%
Derivative variable interest rate					0.90%
Cross currency interest rate swaps | USD
Derivatives and Hedging
Derivative fixed interest rate		7.50%	7.50%
Derivative, notional amount		$ 263
Cross currency interest rate swaps | EURO
Derivatives and Hedging
Derivative fixed interest rate		6.527%	6.527%
Derivative, notional amount | €			€ 240

Derivatives and Hedging - Inter

Derivatives and Hedging - Interest Rate Swap (Details) - Interest Rate Swap $ in Millions	Sep. 30, 2024 USD ($)
Notional Amount Of 600 Million Expiring On 2028
Derivatives and Hedging
Notional amount	$ 400
Fixed Interest Rate	3.242%
Notional Amount Of 500 Million Expiring On 2029
Derivatives and Hedging
Notional amount	$ 500
Fixed Interest Rate	3.226%

Derivatives and Hedging - Earno

Derivatives and Hedging - Earnout Shares (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivatives designated as hedging instruments | Interest rate swaps | Other non-current assets
Derivatives and Hedging
Gross fair value of derivatives assets	$ 1	$ 7
Derivatives designated as hedging instruments | Interest rate swaps | Other non-current liabilities
Derivatives and Hedging
Gross fair value of derivatives assets	0	(5)
Derivatives designated as hedging instruments | Cross currency interest rate swaps | Other non-current liabilities
Derivatives and Hedging
Gross fair value of derivatives assets	(12)	0
Derivatives not designated as hedging instruments | Earnout shares | Earnout derivative liabilities
Derivatives and Hedging
Gross fair value of derivatives liabilities	$ (91)	$ (77)

Derivatives and Hedging - Summa

Derivatives and Hedging - Summary of the Impact of Changes in Fair Values of Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives and Hedging
Amount of gain/(loss) recognized in statements of operations	$ (20)	$ 41	$ (8)	$ 29
Derivatives designated as hedging instruments
Derivatives and Hedging
Amount of gain/(loss) recognized in other comprehensive income (loss)	(2)	(2)	$ (6)	(6)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Interest Expense, Nonoperating
Amount of gain/(loss) recognized in statements of operations	2	2	$ 6	6
Derivatives designated as hedging instruments | Interest rate swaps
Derivatives and Hedging
Amount of gain/(loss) recognized in other comprehensive income (loss)	(10)	3	(5)	6
Amount of gain/(loss) recognized in statements of operations	0	0	0	0
Derivatives designated as hedging instruments | Cross currency interest rate swaps
Derivatives and Hedging
Amount of gain/(loss) recognized in other comprehensive income (loss)	(12)	0	(12)	0
Amount of gain/(loss) recognized in statements of operations	0	0	0	0
Derivatives not designated as hedging instruments | Earnout shares
Derivatives and Hedging
Amount of gain/(loss) recognized in other comprehensive income (loss)	0	0	$ 0	0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Fair value movement on earnout derivative liabilities
Amount of gain/(loss) recognized in statements of operations	$ (22)	$ 39	$ (14)	$ 23

Fair Value Measurements - Gross

Fair Value Measurements - Gross carrying value and fair value of the Company's assets and liabilities measured at a fair value on a recurring basis (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Level 2 | Interest rate swaps
Fair Value Measurements
Gross carrying value and fair value of derivative assets	$ 1	$ 7
Gross carrying value and fair value of derivative liabilities	0	(5)
Level 2 | Cross currency interest rate swap liability
Fair Value Measurements
Gross carrying value and fair value of derivative liabilities	(12)	0
Level 3 | Non-employee earnout shares
Fair Value Measurements
Gross carrying value and fair value of derivative liabilities	$ (91)	$ (77)

Fair Value Measurements - Assum

Fair Value Measurements - Assumptions used for the measurement of the fair value of outstanding earnout shares liabilities (Details) - Non-employee earnout shares	Sep. 30, 2024 yr $ / shares	Dec. 31, 2023 $ / shares yr
Tranche 1
Fair Value Measurements
Fair value per shares (in dollars per share)	$ 4.46	$ 3.71
Tranche 2
Fair Value Measurements
Fair value per shares (in dollars per share)	$ 3.45	$ 3.02
Stock price ($)
Fair Value Measurements
Fair value measurement input	7.69	6.45
Risk-free interest rate
Fair Value Measurements
Fair value measurement input	0.0361	0.0398
Volatility
Fair Value Measurements
Fair value measurement input	0.450	0.475
Expected term (years)
Fair Value Measurements
Fair value measurement input | yr	2.7	3.4
Expected dividends
Fair Value Measurements
Fair value measurement input	0	0

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Level 3 financial liabilities measured at fair value (Details) - Non-employee Earnout Shares - Level 3 $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning	$ 77
Change in fair value	14
Balance at the end	$ 91

Fair Value Measurements - Outst

Fair Value Measurements - Outstanding senior secured term loans (Details) - Secured Debt - Line of Credit - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Level 2 | Senior secured term loans - amended and restated | Carrying amount
Fair Value Measurements
Outstanding senior secured term loans	$ 1,375	$ 0
Level 2 | Senior secured term loans - amended and restated | Fair value
Fair Value Measurements
Outstanding senior secured term loans	1,397	0
Level 2 | Senior secured initial term loans - original | Carrying amount
Fair Value Measurements
Outstanding senior secured term loans	0	234
Level 2 | Senior secured initial term loans - original | Fair value
Fair Value Measurements
Outstanding senior secured term loans	0	236
Level 3 | Senior secured tranche B-3 term loans | Carrying amount
Fair Value Measurements
Outstanding senior secured term loans	0	990
Level 3 | Senior secured tranche B-3 term loans | Fair value
Fair Value Measurements
Outstanding senior secured term loans	0	1,013
Level 3 | Senior secured tranche B-4 term loans | Carrying amount
Fair Value Measurements
Outstanding senior secured term loans	0	132
Level 3 | Senior secured tranche B-4 term loans | Fair value
Fair Value Measurements
Outstanding senior secured term loans	$ 0	$ 137

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	May 01, 2024	May 31, 2022	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transactions
Total revenue			$ 597	$ 571	$ 1,832	$ 1,741
Accounts payable			330		330		$ 302
Accounts receivable (net of allowance for credit losses of $15 and $12 as of September 30, 2024 and December 31, 2023, respectively)			691		691		726
Class A common stock
Related Party Transactions
Loan to equity affiliate							5
Commercial Agreements | Affiliate
Related Party Transactions
Advisory services fees			9	7	28	22
Total revenue			2	7	6	19
Accounts payable			19		19		25
Accounts receivable (net of allowance for credit losses of $15 and $12 as of September 30, 2024 and December 31, 2023, respectively)			1		1		15
Commercial and Operating Agreements with Expedia | Affiliate
Related Party Transactions
Total revenue			40	40	138	122
Accounts receivable (net of allowance for credit losses of $15 and $12 as of September 30, 2024 and December 31, 2023, respectively)			43		$ 43		20
Term of agreement					10 years
Transition Services Agreement with Expedia, Inc | Affiliate
Related Party Transactions
Advisory services fees			3	$ 6	$ 12	$ 20
Accounts payable			2		2		3
Optional services, term	18 months
Payable remaining to expedia in respect of loss contingency			7		7		11
Transition Services Agreement with Expedia, Inc | Affiliate | Egencia
Related Party Transactions
Accounts receivable (net of allowance for credit losses of $15 and $12 as of September 30, 2024 and December 31, 2023, respectively)			$ 0		$ 0		$ 5
License of American Express Marks
Related Party Transactions
Term of agreement		11 years

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Oct. 31, 2024 USD ($)
Subsequent Events
Subsequent Events
Share repurchase program, authorized, amount	$ 300