Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 117

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 117
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105 (1)(1)90 days2023$509,647 $16,515 (1)(1)90 daysU.S. stock index fund2023$84,767 $— ImmediateNone1 day____________(1)Five percent of the NAV of the investment in the commingled fund may be redeemed annually starting at the 12-month anniversary of the investment, subject to certain limitations. Additionally, the investment in the commingled fund may be redeemed in part, or in full, at the 60-month anniversary of the investment, or at any subsequent 36-month anniversary date following the initial 60-month anniversary. The investment in the private investment fund is generally not redeemable until the dissolution of the fund. Other Postretirement Plans.  In 2023, the Company purchased a contract from an insurance company to settle its outstanding retiree life insurance obligation for $1.7 million. As a result, the Company recorded a settlement gain of $1.1 million. The following table sets forth obligation, asset and funding information for the Company’s other postretirement plans:Postretirement PlansAs of December 31(in thousands)20242023Change in Benefit Obligation  Benefit obligation at beginning of year$1,249 $3,400 Interest cost51 149 Actuarial gain(144)(414)Benefits paid, net of Medicare subsidy(87)(207)Settlement— (1,679)Benefit Obligation at End of Year$1,069 $1,249 Funded Status$(1,069)$(1,249)The change in the benefit obligation for the Company’s other postretirement plans in 2024 was due to updated claims experience based on actual premium rates, the recognition of an actuarial gain resulting from an increase to the discount rate used to measure the benefit obligation, and benefits paid during the year. The amounts recognized in the Company’s Consolidated Balance Sheets for its other postretirement plans are as follows:Postretirement PlansAs of December 31(in thousands)20242023Current liability$(180)$(256)Noncurrent liability(889)(993)Recognized Liability$(1,069)$(1,249)The discount rates utilized for determining the benefit obligation at December 31, 2024 and 2023, for the postretirement plans were 5.12% and 4.53%, respectively. The assumed healthcare cost trend rate used