Company: GHC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000104889-25-000032
Chunk: 11

Company: Graham Holdings Co
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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, subject to conversion provisions, all unpaid interest and principal are due by May 2027. The Company had $27.7 million and $38.0 million in its investment account that represents cumulative undistributed income in its investments in affiliates as of March 31, 2025 and December 31, 2024, respectively.Additionally, Kaplan International Holdings Limited (KIHL) held a 45% interest in a joint venture formed with University of York. KIHL loaned the joint venture £22 million, which is repayable over 25 years at an interest rate of 7% and guaranteed by the University of York. The outstanding balance on this loan was £19.3 million as of March 31, 2025. The loan is repayable by December 2041.Cost Method Investments.  The Company held investments without readily determinable fair values in a number of equity securities that are accounted for as cost method investments, which are recorded at cost, less impairment, and adjusted for observable price changes for identical or similar investments of the same issuer. The carrying value of these investments was $75.0 million and $74.8 million as of March 31, 2025 and December 31, 2024, respectively. During the three months ended March 31, 2024, the Company recorded impairment losses of $0.4 million to equity securities that are accounted for as cost method investments.

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4.    ACCOUNTS RECEIVABLE, ACCOUNTS PAYABLE, VEHICLE FLOOR PLAN PAYABLE AND ACCRUED LIABILITIES

Accounts receivable consist of the following:As ofMarch 31,2025December 31,2024(in thousands)Receivables from contracts with customers, less estimated credit losses of $24,071 and $23,719$459,648 $477,827 Other receivables40,020 36,599  $499,668 $514,426 Credit loss expense was $1.1 million and $1.7 million for the three months ended March 31, 2025 and 2024, respectively. Accounts payable, vehicle floor plan payable and accrued liabilities consist of the following:As ofMarch 31,2025December 31,2024(in thousands)Accounts payable$146,615 $160,384 Vehicle floor plan payable115,583 147,884 Accrued compensation and related benefits134,281 172,915 Other accrued liabilities