Company: GHC
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-046925
Chunk: 178

Company: Graham Holdings Co
Filing Date: 2025-10-29
Form: 10-Q
Item: Part I, Item 2
Chunk 178
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 amount owed to the Company on the $30 million term loan extended in April 2023. In May 2024, the Company entered into a convertible promissory note agreement to loan N2K Networks $2.0 million. The convertible promissory note bears interest at a rate of 12% per annum and, subject to conversion provisions, all unpaid interest and principal are due by May 2027.

Disposition of Businesses.  In April 2025, Kaplan completed the sale of a small business, BridgeU Limited, which was included in Kaplan International. In the first half of 2025, WGB completed the sale of various websites and related businesses that made up the WGB operations. All remaining WGB operations were substantially shut down by the end of the third quarter of 2025. In June and September 2024, WGB completed the sales of small businesses. In July 2024, Kaplan completed the sale of a small business, Red Marker, which was included in Kaplan International.

Financing Activities.  The Company’s net cash flow used in financing activities were as follows:

 Nine Months Ended  September 30(In thousands)20252024Distributions paid to noncontrolling interests$(191,609)$(4,010)Net (repayments of) proceeds from vehicle floor plan payable(27,897)8,443 Dividends paid(23,508)(22,926)Repayments of borrowings(22,089)(16,053)Common shares repurchased(3,468)(98,170)Net borrowing under revolving credit facility600 (34,216)Other(22,846)(9,383)Net Cash Used in Financing Activities$(290,817)$(176,315)

Distributions paid to noncontrolling interests.  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 consisted of approximately $186.25 million in cash and $18.75 million in Graham Holdings Company Class B common stock.

Borrowings and Vehicle Floor Plan Payable.  In the first nine months of 2025, the Company repaid amounts borrowed under the term loan, commercial notes at the automotive subsidiary and other debt. In the first nine months of 2024, the Company repaid amounts borrowed under the $300 million