Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 106

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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. There were no sales of marketable equity securities during the first six months of 2025. There were no purchases or sales of marketable equity securities during the first six months of 2024. 

Acquisitions.  In June 2025, Kaplan acquired one small business which is included in its supplemental education division. During 2024, the Company acquired two small businesses. In January 2024, the Company acquired one small business which is included in other businesses. In May 2024, Kaplan acquired one small business which is included in its international division.

On July 15, 2025, Hoover acquired Arconic Architectural Products, LLC, a wholly-owned subsidiary of Arconic Corporation, which manufactures aluminum cladding products and operates within the broader non-residential materials space from its facility in Eastman, GA. A significant portion of the purchase price was funded by the Company’s assumption of approximately $105 million in net pension obligations.

Loan to related party.  In May 2024, the Company entered into a convertible promissory note agreement to loan N2K Networks $2.0 million. The convertible promissory note bears interest at a rate of 12% per annum and, subject to conversion provisions, all unpaid interest and principal are due by May 2027. 

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

 Six Months Ended  June 30(In thousands)20252024Distributions paid to noncontrolling interests$(190,319)$(2,683)Net borrowing under revolving credit facility75,000 33,245 Net (repayments of) proceeds from vehicle floor plan payable(32,776)26,612 Repayments of borrowings(13,172)(9,883)Dividends paid(15,660)(15,352)Common shares repurchased(3,468)(49,514)Other(8,117)(3,686)Net Cash Used in Financing Activities$(188,512)$(21,261)

Distributions paid to noncontrolling interests.  On February 25, 2025, the Company and a group of minority shareholders entered into an agreement to settle a significant portion of the mandatorily redeemable noncontrolling interest related to GHC One, including CSI, for a total of $205 million, which consisted of approximately $186.25 million in cash and $18.75 million in Graham Holdings Company Class B common stock.

B