Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 31

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 31
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 all unpaid interest and principal are due by May 2027. In April 2023, the Company entered into a term note agreement to loan Intersection $30.0 million at an interest rate of 9% per annum. The principal and interest on the note are payable in monthly installments over five years with the final payment due by May 2028. The outstanding balance on this loan was $25.7 million as of December 31, 2024.

Financing Activities.  The Company’s net cash flow used in financing activities were as follows:

 Year Ended December 31(In thousands)202420232022Common shares repurchased$(114,101)$(193,160)$(71,386)Net (payments) borrowing under revolving credit facilities(35,756)(104,244)3,000 (Repayments) issuance of borrowings, net(27,637)171,643 62,815 Net (repayments of) proceeds from vehicle floor plan payable(416)73,732 26,230 Dividends paid(30,347)(30,953)(30,712)Other(32,710)(16,853)(8,054)Net Cash Used in Financing Activities$(240,967)$(99,835)$(18,107)

Common Stock Repurchases.  During 2024, 2023, and 2022, the Company purchased a total of 152,948, 325,134, and 121,761 shares, respectively, of its Class B common stock at a cost of approximately $115.2 million, $195.0 million, and $71.4 million, respectively, including commissions and accrued excise tax of $1.1 million and $1.8 million for 2024 and 2023 purchases, respectively. On September 12, 2024, the Board of Directors authorized the Company to acquire up to 500,000 shares of its Class B common stock. The Company did not announce a ceiling 

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price or time limit for the purchases. At December 31, 2024, the Company had remaining authorization from the Board of Directors to purchase up to 466,460 shares of Class B common stock.

Borrowings and Vehicle Floor Plan Payable.  In 2024, the Company repaid amounts borrowed under the $300 million revolving credit facility, term loan and commercial notes at the automotive subsidiary. In September 2023, the Company’s automotive subsidiary entered