Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 26

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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1,000 contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition. The diluted (loss) earnings per share amounts for the three and six months ended June 30, 2024 exclude the effect of 27,742 stock options and contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition.In the three and six months ended June 30, 2025, the Company declared regular dividends totaling $1.80 and $5.40 per common share, respectively. In the three and six months ended June 30, 2024, the Company declared regular dividends totaling $1.72 and $5.16 per common share, respectively.

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11.    PENSION AND POSTRETIREMENT PLANS

Defined Benefit Plans.  The total benefit arising from the Company’s defined benefit pension plans consists of the following components:  Three Months Ended  June 30Six Months Ended  June 30(in thousands)2025202420252024Service cost$11,699 $14,071 $23,891 $28,105 Interest cost6,956 11,246 13,377 22,440 Expected return on assets(41,881)(41,239)(83,852)(82,929)Amortization of prior service credit(521)(482)(1,040)(976)Recognized actuarial gain— (11,263)— (23,781)Net Periodic Benefit(23,747)(27,667)(47,624)(57,141)Special separation benefit expense6,015 16,410 6,639 16,828 Total Benefit$(17,732)$(11,257)$(40,985)$(40,313)In the second quarter of 2025, the Company recorded $6.0 million in expenses related to Separation Incentive Programs (SIPs) for certain Kaplan, Graham Media Group (GMG), WGB, Saatchi Art, Society6, Code3 and Decile employees. In the first quarter of 2025, the Company recorded $0.6 million in expenses related to a SIP for certain WGB employees. These SIPs were funded from the assets of the Company’s pension plans. In the second quarter of 2024, the Company recorded $14.8 million in expenses related to a Voluntary Retirement Incentive Program (VR