Company: GHC
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000104889-25-000032
Chunk: 58

Company: Graham Holdings Co
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 outstanding4,320 4,432 Add: Effect of dilutive stock options38 25 Denominator for diluted earnings per share4,358 4,457 Graham Holdings Company Common Stockholders:    Basic earnings per share$5.50 $27.87 Diluted earnings per share$5.45 $27.72  ____________Earnings per share amounts may not recalculate due to rounding.Diluted earnings per share excludes the following weighted average potential common shares, as the effect would be antidilutive, as computed under the treasury stock method:Three Months Ended  March 31(in thousands)20252024Weighted average restricted stock12 18 The diluted earnings per share amounts for the three months ended March 31, 2025 excludes the effect of 1,000 contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition. The diluted earnings per share amounts for the three months ended March 31, 2024 exclude the effect of 105,000 stock options and contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition.In the three months ended March 31, 2025 and 2024, the Company declared regular dividends totaling $3.60 and $3.44 per common share, respectively.

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11.    PENSION AND POSTRETIREMENT PLANS

Defined Benefit Plans.  The total benefit arising from the Company’s defined benefit pension plans consists of the following components:  Three Months Ended  March 31(in thousands)20252024Service cost$12,192 $14,034 Interest cost6,421 11,194 Expected return on assets(41,971)(41,690)Amortization of prior service credit(519)(494)Recognized actuarial gain— (12,518)Net Periodic Benefit(23,877)(29,474)Special separation benefit expense624 418 Total Benefit$(23,253)$(29,056)In the first quarter of 2025, the Company recorded $0.6 million in expenses related to a Separation Incentive Program (SIP) for certain WGB employees, which will be funded from the assets of the Company’s pension plans. In the first quarter of 2024, the Company recorded $0.4 million in expenses related to a SIP for certain Framebridge employees, which was funded from