Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 38

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 Businesses and the Corporate Office, as described above. None of these operating segments meet the quantitative thresholds for determining reportable segments.

23

The Company’s education division comprises the following operating segments:Three Months Ended September 30, 2025(in thousands)Kaplan InternationalHigher EducationSupplemental EducationKaplan Corporate and OtherIntersegment EliminationTotal EducationOperating Revenues$294,292 $92,162 $86,679 $280 $(751)$472,662 Less: Significant Expenses (1)Cost of Revenue (2)106,644 67,237 14,293 (689)187,485 Payroll and Fringe Benefits Expense (3)74,935 5,881 34,892 6,390 (42)122,056 Occupancy Expense25,772 183 213 328 (10)26,486 Advertising and Marketing Expense7,933 1,733 8,729 70 18,465 Other Segment Items (4)43,901 282 10,952 1,224 (48)56,311 EBITDAP$35,107 $16,846 $17,600 $(7,732)$38 $61,859 Pension Service Cost142 1,849 1,929 398 4,318 Depreciation Expense6,072 314 692 7 7,085 Income (Loss) from Operations before Amortization of Intangible Assets$28,893 $14,683 $14,979 $(8,137)$38 $50,456 Capital Expenditures$2,470 $163 $975 $16 $3,624 (1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.(2)Cost of revenue reflects the amounts reported and provided to the CODM and does not necessarily reconcile to the Company's Consolidated Statement of Operations or align across reportable segments. Cost of revenue excludes charges related to depreciation, which is shown separately above.(3)Excludes pension service cost, which is shown separately above. Excludes any payroll and related benefits costs captured in cost of revenue.(4)Other segment items for each reportable segment include:(a)Kaplan international - travel meals and entertainment expense, training and employment expense, operating fees and other G&A expenses.(b)Higher