Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 18

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 18
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2024, Dekko offered SIPs to certain employees; $0.2 million in related non-operating pension expense was recorded.

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Healthcare

A summary of healthcare’s operating results is as follows:

  Year Ended December 31  (in thousands)20242023% ChangeRevenue$611,109 $459,481 33 Operating Income50,885 23,845 — 

GHG provides home health and hospice services in seven states. GHG also provides nursing care and prescription services for patients receiving in-home infusion treatments through its 87.5% interest in CSI, and other healthcare services through Clarus (provides call management SaaS-based solution for physician groups and hospitals), Impact Medical (an Allergy, Asthma and Immunology physician practice), Skin Clique (a concierge provider of aesthetics products and services) and Surpass Behavioral Health (provides therapy for autism patients). Healthcare revenues increased 33% in 2024, largely due to significant growth at CSI from an expansion of infusion treatment offerings and patient service areas; revenues also grew in home health and hospice services and at the other healthcare businesses.

The increase in GHG operating results in 2024 is due to substantially higher earnings at CSI from significant revenue growth, along with improved results in home health and at Surpass Behavioral Health, partly offset by increased pension expense. In January 2022, GHG implemented a pension credit retention program offering a pension credit up to $50,000 per employee, cliff vested after three years of continuous employment for certain existing employees and new employees. Effective April 1, 2024, this program is no longer being offered to new employees.

The Company also holds interests in four home health and hospice joint ventures managed by GHG, whose results are included in equity in earnings of affiliates in the Company’s Consolidated Statements of Operations. In 2024 and 2023, the Company recorded equity in earnings of $13.7 million and $9.9 million, respectively, from these joint ventures.

Automotive

A summary of automotive’s operating results is as follows:

  Year Ended December 31  (in thousands)20242023% ChangeRevenue$1,200,477 $1,079,893 11 Operating Income38,015 39,258 (3)

Automotive includes eight automotive dealerships in the Washington, D.C. metropolitan area and Richmond, VA: Ourisman Lexus of Rockville, Ourisman Honda of