Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 12

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 identified and separately recognized. The goodwill recorded due to these acquisitions is attributable to the assembled workforce of the acquired companies and expected synergies. The Company expects to deduct $1.3 million of goodwill for income tax purposes for the acquisitions completed in 2025.The acquired companies were consolidated into the Company’s financial statements starting on their respective acquisition dates. The Company’s Condensed Consolidated Statement of Operations for the three months ended September 30, 2025 includes aggregate revenues and operating losses for the companies acquired in 2025 of $25.7 million and $1.2 million, respectively. The Company’s Condensed Consolidated Statement of Operations includes aggregate revenues and operating losses of $25.7 million and $1.3 million, respectively, for the nine months ended September 30, 2025. The following unaudited pro forma financial information includes the 2025 acquisitions as if they occurred at the beginning of 2024:Three Months Ended  September 30Nine Months Ended  September 30(in thousands)2025202420252024Operating revenues$1,282,805 $1,231,970 $3,714,292 $3,619,085 Net income129,195 75,236 197,452 180,257 These pro forma results were based on estimates and assumptions, which the Company believes are reasonable, and include the historical results of operations of the acquired companies and adjustments for depreciation and amortization of identified assets and the effect of pre-acquisition transaction related expenses incurred by the Company and the acquired entities. The pro forma information does not include efficiencies, cost reductions and synergies expected to result from the acquisitions. They are not the results that would have been realized had these entities been part of the Company during the periods presented and are not necessarily indicative of the Company’s consolidated results of operations in future periods.Disposition of Businesses.  The Company recently decided to cease operations of the Ourisman Jeep of Bethesda dealership, which was closed in early September 2025.In April 2025, Kaplan completed the sale of a small business, BridgeU Limited, which was included in Kaplan International.In the first half of 2025, World of Good Brands (WGB) completed the sale of various websites and related businesses that made up the WGB operations, which were included in other businesses. All remaining WGB operations were substantially shut down by the end of the third quarter of 2025.In June and September 2024, WGB completed the sales of