Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 28

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 greater than twelve months at Kaplan Supplemental Education was $6.8 million. Kaplan Supplemental Education expects to recognize 65% of this revenue over the next twelve months and the remainder thereafter. Costs to Obtain a Contract.  The following table presents changes in the Company’s costs to obtain a contract asset: (in thousands)Balance at Beginning of PeriodCosts associated with new contractsLess: Costs amortized during the periodOtherBalance at End of Period2025$42,121 $84,293 $(72,775)$2,113 $55,752 The majority of other activity was related to currency translation adjustments for the nine months ended September 30, 2025.

10.    EARNINGS PER SHARE

The Company’s unvested restricted stock awards contain nonforfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The diluted earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the treasury stock method, resulting in the presentation of the lower amount in diluted earnings per 

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share. The computation of the earnings per share under the two-class method excludes the income attributable to the unvested restricted stock awards from the numerator and excludes the dilutive impact of those underlying shares from the denominator.The following reflects the Company’s net income and share data used in the basic and diluted earnings per share computations using the two-class method:Three Months Ended  September 30Nine Months Ended  September 30(in thousands, except per share amounts)2025202420252024Numerator:Numerator for basic earnings per share:        Net income attributable to Graham Holdings Company common stockholders$122,925 $72,503 $183,568 $175,843 Less: Dividends paid-common stock outstanding and unvested restricted shares(7,852)(7,444)(31,360)(30,370)Undistributed earnings115,073 65,059 152,208 145,473 Percent allocated to common stockholders99.39 %99.31 %99.39 %99.31 %114,372 64,612 151,280 144,473 Add: Dividends paid-common stock outstanding7,803 7,392 31,168 30,164 Numerator for basic earnings per share$122,175 $72,004 $182,448 $