Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 84

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 84
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 and other facilities, that have not yet commenced and have minimum lease payments of $14.0 million. These operating leases will commence in fiscal year 2025 with contractual lease terms of 5 to 21 years.Finance Leases.  The components of financing lease expense were as follows:Year Ended December 31(in thousands)202420232022Finance lease cost:Amortization of right-of-use assets$8,431 $5,687 $2,351 Interest on lease liabilities1,456 989 317 Finance lease cost9,887 6,676 2,668 Variable lease cost216 133 85 Total net lease cost$10,103 $6,809 $2,753 

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Supplemental information related to finance leases was as follows:Year Ended December 31(in thousands)202420232022Cash Flow Information:Operating cash flows from finance leases$1,456 $989 $317 Financing cash flows from finance leases (payments)13,425 10,376 6,237 Right-of-use assets obtained in exchange for new finance lease liabilities (noncash)12,569 20,265 9,182 As of December 3120242023Balance Sheet Information:Property, plant and equipment, net$21,716 $22,831 Current lease liabilities$18,028 $17,357 Noncurrent lease liabilities5,049 6,571 Total lease liabilities$23,077 $23,928 Weighted average remaining lease term (years)1.51.8Weighted average discount rate6.8 %6.3 %At December 31, 2024, maturities of finance lease liabilities were as follows: (in thousands)December 31, 20242025$18,511 20263,966 20271,242 202818 20293 Total payments23,740 Less: Imputed interest(663)Total$23,077 

9.    GOODWILL AND OTHER INTANGIBLE ASSETS

In the fourth quarter of 2024, as a result of reduced enrollments at Mander Portman Woodward (MPW), due partly to the recent U.K. government elimination of the Value Added Tax (VAT) exemption on private school tuition, the Company recorded an intangible asset impairment charge of $22.9 million. The Company estimated the fair value of this indefinite