Company: GHC
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000104889-25-000062
Chunk: 65

Company: Graham Holdings Co
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 senior managers as holders of the other common units. The mandatorily redeemable noncontrolling interest is reported as a current and noncurrent liability at June 30, 2025 and a noncurrent liability at December 31, 2024 in the Condensed Consolidated Balance Sheets.Other.  During the three and six months ended June 30, 2024, the Company recorded goodwill and intangible asset impairment charges of $26.3 million. The remeasurement of goodwill and other long-lived assets is classified as a Level 3 fair value assessment due to the significance of unobservable inputs developed in the determination of the fair value. The Company used a discounted cash flow model to determine the estimated fair value of the reporting unit and other long-lived assets. The Company made estimates and assumptions regarding future cash flows, discount rates and long-term growth rates.During the three and six months ended June 30, 2025, the Company recorded impairment losses of $12.7 million to equity securities that are accounted for as cost method investments. During the three and six months ended June 30, 2024, the Company recorded impairment losses of $0.3 million and $0.7 million, respectively, to those securities.

9.    REVENUE FROM CONTRACTS WITH CUSTOMERS

The Company generated 78% of its revenue from U.S. domestic sales for each of the three and six months ended June 30, 2025 and 2024. The remaining 22% of revenue was generated from non-U.S. sales for each of the three and six months ended June 30, 2025 and 2024. 

15

For each of the three and six months ended June 30, 2025 and 2024, the Company recognized 54% of its revenue over time as control of the services and goods transferred to the customer, and the remaining 46% at a point in time, when the customer obtained control of the promised goods. Contract Assets.  As of June 30, 2025, the Company recognized a contract asset of $36.9 million related to a contract at a Kaplan International business, of which $6.3 million is included in Other current assets and $30.6 million is included in Deferred Charges and Other Assets. The Company expects to recognize an additional $258.9 million related to the remaining performance obligation in the contract over the next four years. As of December 31, 2024, the contract asset was $36