Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 62

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 62
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30, 2024, the Company recorded interest expense of $73.5 million and $75.4 million, respectively, to adjust the fair value of the mandatorily redeemable noncontrolling interest. The fair value of the mandatorily redeemable noncontrolling interest was based on the fair value of the underlying subsidiaries owned by GHC One and GHC Two, after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined by reference to either a discounted cash flow or EBITDA multiple, which approximates fair value (Level 3 fair value assessment) (See Note 2 and 8).

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8.    FAIR VALUE MEASUREMENTS 

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows:As of June 30, 2025(in thousands)Level 1Level 2Level 3TotalAssets      Money market investments (1) $— $6,008 $— $6,008 Marketable equity securities (2)889,515 — — 889,515 Other current investments (3)— 8,633 — 8,633 Total Financial Assets$889,515 $14,641 $— $904,156 Liabilities      Contingent consideration liabilities (4)$— $— $1,349 $1,349 Interest rate swaps (5) — 2,475 — 2,475 Mandatorily redeemable noncontrolling interest (6)— — 21,516 21,516 Total Financial Liabilities$— $2,475 $22,865 $25,340 As of December 31, 2024(in thousands)Level 1Level 2Level 3TotalAssets      Money market investments (1) $— $3,908 $— $3,908 Marketable equity securities (2)852,434 — — 852,434 Other current investments (3)— 6,309 — 6,309 Foreign exchange swap (7)— 710 — 710 Total Financial Assets$852,434 $10,927 $— $863,361 Liabilities      Contingent consideration liabilities (4)$— $— $1,419 $1