Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 11

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 the Ourisman Automotive Group family of dealerships. This acquisition expands the Company’s automotive business operations and will be included in automotive.During 2025, the Company acquired two businesses: one in education and one in manufacturing for $19.9 million in cash and the assumption of $107.4 million in net pension obligations. The assets and liabilities of the companies acquired were recorded at their estimated fair values at the date of acquisition.In July 2025, Hoover acquired 100% of Arconic Architectural Products, LLC, a wholly-owned subsidiary of Arconic Corporation, which manufactures aluminum cladding products and operates within the broader non-residential materials space from its facility in Eastman, GA. A significant portion of the purchase price was funded by the Company’s assumption of certain pension obligations. The acquisition expands Hoover’s product offerings and is included in manufacturing.In June 2025, Kaplan acquired one small business which is included in its supplemental education division.During 2024, the Company acquired two small businesses. In January 2024, the Company acquired one small business which is included in other businesses. In May 2024, Kaplan acquired one small business which is included in its international division.Acquisition-related costs for acquisitions that closed during the first nine months of 2025 were $2.0 million and were expensed as incurred. The aggregate purchase price of the 2025 acquisitions was allocated as follows, based on the acquisition date fair values to the following assets and liabilities:Purchase Price AllocationNine Months Ended(in thousands)September 30, 2025Accounts receivable$11,641 Inventory26,004 Property, plant and equipment14,014 Lease right-of-use assets2,540 Goodwill42,777 Amortized intangible assets41,300 Deferred income taxes9,716 Other assets202 Pension liabilities(107,365)Other liabilities(18,423)Current and noncurrent lease liabilities(2,540)Aggregate purchase price, net of cash acquired$19,866 The 2025 fair values recorded were based upon preliminary valuations and the estimates and assumptions in such valuations are subject to change within the measurement period (up to one year from the acquisition date). The recording of the amounts of residual goodwill, other intangibles and pension liabilities are not yet finalized. Goodwill 

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is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually