Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 100

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 debt issuance costs as of September 30, 2025 and December 31, 2024, respectively.(3)     The carrying value is net of $0.1 million of unamortized debt issuance costs as of December 31, 2024.(4)     The carrying value is net of $0.5 million and $0.6 million of unamortized debt issuance costs as of September 30, 2025 and December 31, 2024, respectively.

13

At September 30, 2025 and December 31, 2024, the fair value of the Company’s 5.75% unsecured notes, based on quoted market prices (Level 2 fair value assessment), totaled $399.9 million and $398.9 million, respectively.The outstanding balance on the Company’s $300 million unsecured revolving credit facility was $67.2 million as of September 30, 2025, consisting of British Pound borrowings of £50 million with interest payable at Daily Sterling Overnight Index Average (SONIA) plus 1.375%.The fair value of the Company’s other debt, which is based on Level 2 inputs, approximates its carrying value as of September 30, 2025 and December 31, 2024. The Company is in compliance with all financial covenants of the revolving credit facility and term loans as of September 30, 2025.During the three months ended September 30, 2025 and 2024, the Company had average borrowings outstanding of approximately $856.8 million and $813.5 million, respectively, at average annual interest rates of approximately 6.0% and 6.3%, respectively. During the three months ended September 30, 2025 and 2024, the Company incurred net interest expense of $15.7 million and $23.6 million, respectively.During the nine months ended September 30, 2025 and 2024, the Company had average borrowings outstanding of approximately $835.2 million and $819.6 million, respectively, at average annual interest rates of approximately 6.0% and 6.4%, respectively. During the nine months ended September 30, 2025 and 2024, the Company incurred net interest expense of $111.3 million and $130.0 million, respectively.During the three and nine months ended September 30, 2025, the