Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 105

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 nine months ended September 30, 2024, the Company recorded an impairment charge of $14.4 million on one of its investments in affiliates (see Note 3). The Company used a market approach to determine the estimated fair value of its investment in the affiliate. 

9.    REVENUE FROM CONTRACTS WITH CUSTOMERS

The Company generated 79% and 78% of its revenue from U.S. domestic sales for the three and nine months ended September 30, 2025, respectively. The remaining 21% and 22% of revenue was generated from non-U.S. sales for the three and nine months ended September 30, 2025. For the three and nine months ended September 30, 2024, 80% and 78% of revenue, respectively, was from U.S. domestic sales and the remaining 20% and 22% of revenue was generated from non-U.S. sales.For the three and nine months ended September 30, 2025, the Company recognized 51% and 53%, respectively, of its revenue over time as control of the services and goods transferred to the customer, and the remaining 49% and 47% at a point in time, when the customer obtained control of the promised goods. For the three and nine months ended September 30, 2024, the Company recognized 54% of its revenue over time, and the remaining 46% at a point in time.Contract Assets.  As of September 30, 2025, the Company recognized a contract asset of $31.2 million related to a contract at a Kaplan International business, which is included in Deferred Charges and Other Assets. The Company expects to recognize an additional $244.4 million related to the remaining performance obligation in the contract over the next four years. As of December 31, 2024, the contract asset was $36.6 million, of which $1.9 million was included in Other current assets and $34.7 million was included in Deferred Charges and Other Assets. Additional contract assets of $3.0 million and $3.1 million are included in Other current assets on the Company’s Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024, respectively.Deferred Revenue.  The Company records deferred revenue when cash payments are received or due in advance of the Company’s performance which includes some payments that are refundable due to the contractual right of the customer