Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 91

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 91
---
The Company has established $52.6 million in U.S. Federal deferred tax assets with respect to these U.S. Federal income tax loss carryforwards as of December 31, 2024.

97

For U.S. Federal income tax purposes, the Company has established U.S. Federal deferred tax assets with respect to $0.5 million of foreign tax credits available to be credited against future U.S. Federal income tax liabilities that will start to expire in 2032 if unutilized. The Company has recorded $0.5 million in valuation allowances against these deferred tax assets since the Company determined that it is more likely than not that these foreign tax credit carryforwards may not be utilized in the future to reduce U.S. Federal income taxes. The Company has $84.1 million of non-U.S. income tax loss carryforwards as a result of operating losses and carryforwards that were obtained in part through prior stock acquisitions that are available to offset future non-U.S. taxable income and has recorded, with respect to these losses, $16.4 million in non-U.S. deferred income tax assets. The Company has established $12.0 million in valuation allowances against the deferred tax assets for the portion of non-U.S. tax losses that may not be utilized to reduce future non-U.S. taxable income. The $84.1 million of non-U.S. income tax loss carryforwards consist of $36.2 million in losses that may be carried forward indefinitely; $41.7 million of losses that, if unutilized, will expire in varying amounts through 2029; and $6.2 million of losses that, if unutilized, will start to expire after 2029.The Company has $20.0 million of non-U.S. capital loss carryforwards that may be carried forward indefinitely and are available to offset future non-U.S. capital gains. The Company recorded a $6.0 million non-U.S. deferred income tax asset for these non-U.S. capital loss carryforwards and has established a full valuation allowance against this non-U.S. deferred tax asset since the Company has determined that it is more likely than not that the capital loss carryforwards may not be utilized to reduce taxable income in the future.Deferred tax valuation allowances and changes in deferred tax valuation allowances were as follows:(in thousands)Balance at Beginning of PeriodTax Expense and RevaluationDeductionsBalance at End of PeriodYear Ended    December 31, 202