Global Business Travel Group, Inc.GBTG

Global Business Travel Group, Inc. Segments Disclosure

10-KFiled Mar 7, 20253 min read
Segment Information
Reportable segments are determined based upon the Company’s internal organizational structure; the manner in which the Company’s operations are managed; the criteria used by the Company’s Chief Executive Officer, who is also the Company’s Chief Operating Decision Maker (“CODM”), to evaluate segment performance; the availability of separate financial information utilized on a regular basis by the CODM to assess financial performance and to allocate resources; and overall materiality considerations. All significant operating decisions are based on analysis of the Company as a single global business. For the year ended December 31, 2024, the Company has determined it has one operating and reporting segment.
The financial measures which the Company’s CODM uses to evaluate the performance of the Company are revenue and consolidated net income (loss). The CODM also regularly reviews revenue by transaction type – Travel Revenue and Products and Professional Services Revenue (see note 3 – Revenue from Contracts with Customers).
The table below sets forth information about reported segment revenue, significant segment expenses, other segment items and consolidated net loss.
Year ended December 31,
(in $ millions)202420232022
Revenue$2,423$2,290$1,851
Less: (a)
Adjusted cost of revenue (b)
$962 957 830 
Adjusted sales and marketing (b)
$378 363 320 
Adjusted technology and content (b)
$420 395 377 
Adjusted general and administrative (c)
$188 195 218 
Total adjusted cost and expenses $1,948 $1,910 $1,745 
Share of income (loss) from equity-method investments$3 $— $(3)
Less other segment items:
Interest income$61—
Interest expense$(115)(141)(98)
Loss on early extinguishment of debt(38)——
Depreciation and amortization$(178)(194)(182)
Other (d)
$(287)$(182)$(52)
Net loss$(134)$(136)$(229)

(a)The significant expense categories and amounts align with the information that is regularly provided to the CODM.
(b)Excludes primarily non-cash equity-based compensation and related employer taxes.
(c)Excludes primarily non-cash equity-based compensation and related employer taxes, restructuring costs related to facilities consolidation, integration costs, costs related to mergers and acquisitions, non-cash equity-based compensation and related employer taxes, certain corporate costs.
(d)Relates primarily to restructuring, exit and other related charges, integration costs, mergers and acquisitions, equity based compensation and related employer taxes, fair value movement of earnout and warrant derivative liabilities, provision for (benefit from) income taxes, foreign currency gains (losses) and non-service components of net periodic pension cost (benefit).
The table below presents the Company’s revenue and long-lived assets, comprising property and equipment, net, and operating lease ROU assets, by geographic location:
(in $ millions)United StatesUnited KingdomAll other countriesTotal
Revenue    
Year ended December 31, 2024$479$1,305$639$2,423
Year ended December 31, 2023$833$833$624$2,290
Year ended December 31, 2022$672$687$492$1,851
(in $ millions)United StatesUnited KingdomFranceAll other countriesTotal
Long-lived assets   
As of December 31, 2024$132$79$37$43$291
As of December 31, 2023$135$61$42$44$282
As of December 31, 2022$123$68$41$44$276
The geographical determination of revenue is based on the jurisdiction of the legal entity contracting with the customer. No single customer accounted for 10 percent or more of the Company’s revenue for the years ended December 31, 2024, 2023 and 2022. Similarly, no single customer accounted for 10 percent or more of the accounts receivable balance as of December 31, 2024 and 2023.

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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