Company: GHC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000104889-25-000022
Chunk: 93

Company: Graham Holdings Co
Filing Date: 2025-02-26
Form: 10-K
Item: Item 16
Chunk 93
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 to tax except to the extent non-U.S. withholding taxes are imposed. Approximately $2.8 million of deferred tax liabilities remain recorded on the books at December 31, 2024, with respect to future non-U.S. withholding taxes the Company estimated may be imposed on future cash distributions. U.S. Federal and state tax liabilities may be recorded if the investment in non-U.S. subsidiaries becomes held for sale instead of being held indefinitely, but the calculation of the tax due is not practicable.The 2021 U.S. Federal tax return and subsequent years remain open to Internal Revenue Service examination. The Company files income tax returns with the U.S. Federal government and in various state, local and non-U.S. 

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governmental jurisdictions, with the consolidated U.S. Federal tax return filing considered the only major tax jurisdiction.The Company endeavors to comply with tax laws and regulations where it does business, but cannot guarantee that, if challenged, the Company’s interpretation of all relevant tax laws and regulations will prevail and that all tax benefits recorded in the financial statements will ultimately be recognized in full. The following summarizes the Company’s unrecognized tax benefits, excluding interest and penalties, for the respective periods:Year Ended December 31(in thousands)202420232022Beginning unrecognized tax benefits$3,263 $3,897 $3,004 Increases related to current year tax positions235 135 300 Increases related to prior year tax positions990 — 778 Decreases related to prior year tax positions(43)(165)(185)Decreases related to settlement with tax authorities— — — Decreases due to lapse of applicable statutes of limitations(1,136)(604)— Ending unrecognized tax benefits$3,309 $3,263 $3,897 The unrecognized tax benefits relate to federal and state research and development tax credits applicable to the 2019 to 2024 tax periods, as well as state income tax filing positions applicable to the 2012 to 2020 tax periods. In making these determinations, the Company presumes that taxing authorities pursuing examinations of the Company’s compliance with tax law filing requirements will have full knowledge of all relevant information, and, if necessary, the Company will pursue resolution of disputed tax positions by appeals or litigation. Although the Company cannot predict the timing of resolution with tax authorities, the Company estimates that some of the unrecognized tax benefits may change in the next 12 months due to settlement with the tax authorities. The Company expects that a $1