Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 85

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 85
---
 below the quantitative thresholds are attributable to Other Businesses and the Corporate Office, as described above. None of these operating segments meet the quantitative thresholds for determining reportable segments.

28

The Company’s education division comprises the following operating segments:Six Months Ended June 30, 2024(in thousands)Kaplan InternationalHigher EducationSupplemental EducationKaplan Corporate and OtherIntersegment EliminationTotal EducationOperating Revenues$536,824 $161,163 $145,255 $5,581 $(3,326)$845,497 Less: Significant Expenses (1)Cost of Revenue (2)181,340 123,306 27,781 (3,487)328,940 Payroll and Fringe Benefits Expense (3)150,223 7,995 61,774 11,930 231,922 Occupancy Expense53,755 362 1,343 5,498 60,958 Advertising and Marketing Expense16,388 3,019 15,844 295 35,546 Other Segment Items (4)63,120 1,080 22,473 2,694 72 89,439 EBITDAP$71,998 $25,401 $16,040 $(14,836)$89 $98,692 Pension Service Cost329 3,826 3,912 755 8,822 Depreciation Expense14,533 1,702 1,876 49 18,160 Income (Loss) from Operations before Amortization of Intangible Assets$57,136 $19,873 $10,252 $(15,640)$89 $71,710 Capital Expenditures$11,520 $233 $904 $— $12,657 (1)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.(2)Cost of revenue reflects the amounts reported and provided to the CODM and does not necessarily reconcile to the Company's Consolidated Statement of Operations or align across reportable segments. Cost of revenue excludes charges related to depreciation, which is shown separately above.(3)Excludes pension service cost, which is shown separately above. Excludes any payroll and related benefits costs captured in cost of revenue.(4)Other segment items for each reportable segment include:(a)Kaplan international - travel meals and entertainment expense