Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 28

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 28
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Moody’sStandard & Poor’sLong-termBa1BBOutlookStableStable

The Company expects to fund its estimated capital needs primarily through existing cash balances and internally generated funds, and, as needed, from borrowings under its revolving credit facility. As of December 31, 2024, the Company had $62.8 million outstanding under the $300 million revolving credit facility. In management’s opinion, the Company will have sufficient financial resources to meet its business requirements in the next 12 months, including working capital requirements, capital expenditures, interest payments, potential acquisitions and strategic investments, dividends and stock repurchases.

In summary, the Company’s cash flows for each period were as follows:

 Year Ended December 31(In thousands)202420232022Net cash provided by operating activities$406,988 $259,875 $235,604 Net cash used in investing activities(62,330)(152,975)(184,066)Net cash used in financing activities(240,967)(99,835)(18,107)Effect of currency exchange rate change(7,729)4,394 (1,842)Net increase in cash and cash equivalents and restricted cash$95,962 $11,459 $31,589 

Operating Activities.  Cash provided by operating activities is net income adjusted for certain non-cash items and changes in assets and liabilities. The Company’s net cash flow provided by operating activities were as follows:

 Year Ended December 31(In thousands)202420232022Net Income$732,610 $211,704 $70,434 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation, amortization and goodwill and other long-lived asset impairments173,987 235,169 261,138 Amortization of lease right-of-use asset63,253 67,734 67,568 Net pension benefit, settlement gain and early retirement and separation program costs(740,152)(101,398)(166,611)Other non-cash activities65,949 (84,399)130,230 Change in operating assets and liabilities111,341 (68,935)(127,155)Net Cash Provided by Operating Activities$406,988 $259,875 $235,604 

Net cash provided by operating activities consists primarily of cash receipts from customers, less disbursements for costs, benefits, income taxes, interest and other expenses.

For