Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 110

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 110
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11,263)Actuarial loss19,460 25,585 Benefits paid(49,963)(82,455)Special termination benefits20,998 9,886 Settlement(522,793)— Benefit Obligation at End of Year$456,650 $892,049 Change in Plan Assets  Fair value of assets at beginning of year$3,005,687 $2,528,344 Actual return on plan assets534,239 559,798 Benefits paid(49,963)(82,455)Settlement(522,793)— Fair Value of Assets at End of Year$2,967,170 $3,005,687 Funded Status$2,510,520 $2,113,638 SERPAs of December 31(in thousands)20242023Change in Benefit Obligation  Benefit obligation at beginning of year$89,876 $90,018 Service cost1,149 593 Interest cost4,514 4,659 Actuarial (gain) loss(1,886)909 Benefits paid(6,130)(6,303)Benefit Obligation at End of Year$87,523 $89,876 Funded Status$(87,523)$(89,876)

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The change in the Company’s benefit obligations for the pension plans in 2024 were primarily due to the settlement from the irrevocable group annuity contract and the benefits paid during the year offset by the recognition of an actuarial loss resulting from various experience variances and assumption changes used to measure the benefit obligation and special termination benefits provided to employees. The change in the Company’s benefit obligations for the SERP in 2024 were primarily due to the benefits paid during the year and the recognition of an actuarial gain resulting from an increase to the discount rate used to measure the benefit obligation.The accumulated benefit obligation for the Company’s pension plans at December 31, 2024 and 2023, was $448.7 million and $880.3 million, respectively. The accumulated benefit obligation for the Company’s SERP at December 31, 2024 and 2023, was $84.9 million and $89.4 million, respectively. The amounts recognized in the Company’s Consolidated Balance Sheets for its defined benefit pension plans are as follows:Pension PlansSERPAs of December 31As of December 31(in