Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 77

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 77
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 2027. Following the redemption, the Company owned 86.7% of CSI.In November 2022, a CSI minority shareholder put some shares to the Company, which had a redemption value of $1.2 million. Following the redemption, the Company owned 76.5% of CSI.As of December 31, 2024, the Company holds a controlling financial interest in GHC One and GHC Two and therefore includes the assets, liabilities, results of operations and cash flows in its consolidated financial statements. GHC One acquired CSI and Clarus during 2019. GHC Two acquired Impact Medical during 2021 and Skin Clique and Surpass in 2022. The Company accounts for the minority ownership of the group of senior managers in GHC One and GHC Two as a mandatorily redeemable noncontrolling interest (see Note 2 and 12).Subsequent Event.  On February 25, 2025, the Company and a group of minority shareholders entered into an agreement to settle a significant portion of the mandatorily redeemable noncontrolling interest related to GHC One, including CSI, for a total of $205 million, which consists of approximately $186.25 million in cash and $18.75 million in Graham Holdings Company Class B common stock.The settlement agreement resulted in a $66.2 million increase to the mandatorily redeemable noncontrolling interest obligation, which the Company will record as interest expense in the first quarter of 2025. The transaction, which materialized subsequent to year-end, closed on February 25, 2025; the remaining mandatorily redeemable noncontrolling interest obligation related to GHC One and GHC Two was $20.7 million at December 31, 2024.

4.    INVESTMENTS

Money Market Investments.  As of December 31, 2024 and 2023, the Company had money market investments of $3.9 million and $5.6 million, respectively, that are classified as cash and cash equivalents in the Company’s Consolidated Balance Sheets.Investments in Marketable Equity Securities.  Investments in marketable equity securities consist of the following:As of December 31(in thousands)20242023Total cost$227,153 $225,971 Gross unrealized gains627,760 464,182 Gross unrealized losses(2,479)— Total Fair Value$852,434 $690,153 

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At December