Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 16

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 of $14.4 million on its investment in N2K Networks as a result of the investee exiting a significant product offering following losses incurred. The Company had $26.8 million and $38.0 million in its investment account that represents cumulative undistributed income in its investments in affiliates as of September 30, 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 £18.8 million as of September 30, 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 $61.1 million and $74.8 million as of September 30, 2025 and December 31, 2024, respectively. During the three and nine months ended September 30, 2025, the Company recorded impairment losses of $1.5 million and $14.2 million, respectively, to equity securities that are accounted for as cost method investments. During the three and nine months ended September 30, 2024, the Company recorded gains of $0.2 million to equity securities that are accounted for as cost method investments based on observable transactions for identical or similar investments of the same issuer. During the nine months ended September 30, 2024, the Company recorded impairment losses of $0.7 million to those equity securities.

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

Accounts receivable consist of the following:As ofSeptember 30,2025December 31,2024(in thousands)Receivables from contracts with customers, less estimated credit losses of $24,329 and $23,719$494,460 $477,827 Other receivables49,535 36,599  $543,995 $514,426 Credit loss expense was $0.8 million