Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 108

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 30, 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 and nine months ended September 30, 2024 exclude the effect of 27,742 stock options and contingently issuable shares outstanding as their inclusion would have been antidilutive due to a market condition.In the three and nine months ended September 30, 2025, the Company declared regular dividends totaling $1.80 and $7.20 per common share, respectively. In the three and nine months ended September 30, 2024, the Company declared regular dividends totaling $1.72 and $6.88 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  September 30Nine Months Ended  September 30(in thousands)2025202420252024Service cost$11,772 $14,761 $35,663 $42,866 Interest cost8,012 11,220 21,389 33,660 Expected return on assets(41,915)(41,487)(125,767)(124,416)Amortization of prior service credit(520)(487)(1,560)(1,463)Recognized actuarial gain— (11,891)— (35,672)Net Periodic Benefit(22,651)(27,884)(70,275)(85,025)Special separation benefit expense2,546 3,665 9,185 20,493 Total Benefit$(20,105)$(24,219)$(61,090)$(64,532)In the third quarter of 2025, the Company recorded $2.5 million in expenses related to Separation Incentive Programs (SIPs) for certain Kaplan, Graham Media Group (GMG), Joyce, Society6, Saatchi Art, Code3 and Corporate employees. In the second quarter of 2025, the Company recorded $6.0 million in expenses related to SIPs for certain Kaplan, GMG, WGB, Saatchi Art, Society6, Code3 and Decile employees. In the first quarter of 2025, the Company recorded $0.6 million in expenses