Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 61

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 61
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0.6 million of unamortized debt issuance costs as of June 30, 2025 and December 31, 2024.

12

At June 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 $400.7 million and $398.9 million, respectively.The outstanding balance on the Company’s $300 million unsecured revolving credit facility was $143.6 million as of June 30, 2025, consisting of U.S. dollar borrowings of $75 million with interest payable at SOFR plus 1.375% or prime rate plus 0.375%, and 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 June 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 June 30, 2025.During the three months ended June 30, 2025 and 2024, the Company had average borrowings outstanding of approximately $886.4 million and $841.8 million, respectively, at average annual interest rates of approximately 6.0% and 6.4%, respectively. During the three months ended June 30, 2025 and 2024, the Company incurred net interest expense of $15.8 million and $89.3 million, respectively.During the six months ended June 30, 2025 and 2024, the Company had average borrowings outstanding of approximately $828.7 million and $826.9 million, respectively, at average annual interest rates of approximately 6.0% and 6.4%, respectively. During the six months ended June 30, 2025 and 2024, the Company incurred net interest expense of $95.6 million and $106.4 million, respectively.During the three and six months ended June 30, 2025, the Company recorded interest expense of $1.2 million and $67.6 million, respectively, to adjust the fair value of the mandatorily redeemable noncontrolling interest. During the three and six months ended June