Graham holdings co (GHC)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash Flows from Operating Activities
Net (Loss) Income

-33,891

146,017

42,965

57,195

81,702

56,738

125,070

46,635

42,965

214,560

24,844

41,999

21,086

36,918

33,126

61,199

38,215

51,109

-230,556

58,427

21,800

334,666

76,439

749,850

132,305

156,528

30,424

45,134

5,259

-45,375

93,947

52,047

31,568

61,731

-5,966

45,763

15,629

78,989

61,076

92,127

45,828

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and goodwill and intangible asset impairment

47,270

38,313

29,295

27,457

26,583

28,175

34,026

25,018

25,026

28,959

27,238

35,625

21,488

24,831

22,717

22,323

23,023

24,993

267,563

72,567

63,314

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of lease right-of-use asset

23,749

22,388

20,926

20,518

20,353

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net pension benefit

-13,784

-

-

-

-13,653

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net pension benefit, settlement, early retirement and special separation benefit expense

-

-

-

-

-

-45,490

-18,590

-19,573

-17,295

-12,933

-14,764

-14,829

-14,688

-30,383

-12,389

-12,266

-12,059

-20,352

-22,209

-11,440

-11,432

-17,769

-17,204

-17,833

-16,600

-9,498

2,843

4,192

4,390

6,064

5,346

2,442

2,192

-1,490

-1,489

-1,458

-289

-

-

-

-435

Depreciation of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

53,095

52,698

54,124

59,874

61,540

63,875

65,973

79,881

63,835

63,022

63,254

64,040

62,962

65,059

63,914

64,006

62,818

62,837

62,796

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,406

3,360

3,081

3,731

2,837

3,313

3,717

7,611

5,095

4,460

4,278

6,819

9,299

7,407

6,808

6,550

6,521

7,604

6,516

Multiemployer pension plan withdrawal charge

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Goodwill impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

3,884

0

4,490

0

0

8,442

14,258

0

7,486

0

1,022

204

0

0

430

-

-

-

-

Loss (gain) on marketable equity securities and cost method investments, net

-102,970

49,407

21,073

7,911

25,357

-40,973

53,449

-2,554

-14,102

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss (gain) on sales and disposition of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,479

-4,351

358,963

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on disposition of businesses, property, plant and equipment and investments, net

-184

391

-110

-223

29,204

-13,231

781

3,859

8,739

304

-102

-67

-335

-92,581

-141

41,824

20,449

18,256

-26,674

2,525

4,515

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for doubtful trade receivables

2,400

-

-

-

200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense, net

1,568

1,526

1,525

1,616

1,611

1,240

1,910

1,151

2,111

2,641

2,324

2,338

2,866

3,099

3,167

3,898

3,254

9,610

24,580

8,826

5,017

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign exchange gain

4,290

-2,354

661

109

514

-1,639

-116

-2,266

177

-3,298

1,414

3,466

1,728

-6,566

-3,797

-24,084

-5,443

627

-12,972

3,608

-6,827

-8,511

-10,564

2,909

5,037

-4,032

7,886

-12,622

-4,614

-47

3,111

-2,592

2,660

412

-6,706

330

2,701

1,881

11,923

-3,844

-3,255

Write-down of cost method investments

2,600

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Marketable Securities, Realized Loss, Other than Temporary Impairments, Amount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,696

-

-

-

-

Net gain on sales and disposition of businesses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2,700

23,377

3,082

2,459

516

0

0

-

-

-

-

Gain on sale of an equity affiliate

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in earnings of affiliates, net of distributions

-1,547

-1,204

3,486

1,417

-1,021

312

7,349

830

2,115

-5,080

-532

1,317

649

-7,964

-1,008

-891

1,004

-265

95

-354

-594

202

-2,240

94,503

4,052

-14,829

5,891

3,869

3,408

-9,429

3,375

3,511

3,691

-10,873

-1,494

3,138

3,737

-

-

-

-8,109

(Benefit from) provision for deferred income taxes

-21,550

43,441

12,829

7,589

5,892

3,744

-6,727

3,296

-7,436

-162,758

1,936

6,927

7,443

27,351

-10,475

-8,843

2,037

33,212

-27,294

-1,744

-114

40,814

4,449

-780

4,660

20,397

-9,065

-1,614

1,877

-48,627

-4,058

12,046

-23,744

24,948

12,519

8,499

-3,701

58,447

-573

-12,246

-8,572

Net (gain) loss on sales or write-downs of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

241

72

-8,173

127,259

-3,270

-1,099

-50

-327

-2,441

-983

8,731

-7,203

-15,867

517

7,659

-2,021

3,473

2,944

8,642

35

Change in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,186

-5,705

7,340

-

2,512

-15,952

-31,734

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, net

-100,732

6,294

74,489

3,204

-30,385

-2,296

31,665

8,304

-87,311

128,974

15,892

483

-122,605

53,872

43,806

-8,037

-41,749

66,685

47,430

32,791

-59,741

83,977

45,296

-8,931

-23,498

49,272

62,325

-6,588

-23,020

2,862

44,720

3,980

-36,716

10,940

4,540

11,073

-54,448

-5,093

18,415

-1,569

-26,401

Inventories

8,512

-6,652

-9,909

13,071

8,807

-3,562

-3,196

8,680

5,429

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,561

-1,792

2,118

-2,016

-681

-890

3,762

-604

-654

-3,459

431

-4,889

Accounts payable and accrued liabilities

-97,476

13,639

-4,583

28,538

-84,663

50,208

-23,083

13,938

-85,955

82,635

399

-8,070

-55,584

96,246

-42,711

50,542

-45,930

-11,211

26,582

75,867

-28,337

7,474

23,243

20,329

-90,245

11,703

67,302

-15,228

-43,487

-2,646

-740

-1,317

-22,828

-38,128

-44,020

45,837

-90,460

38,060

24,595

37,197

-58,960

Deferred revenue

-12,790

5,567

91,462

-50,083

-16,459

-23,347

84,341

-37,410

-8,783

-13,351

56,960

-34,309

4,603

-11,462

47,765

-37,446

17,695

-39,945

33,339

-33,598

-11,621

-32,720

76,230

-31,958

25,739

-35,319

45,865

-29,509

15,529

4,412

35,772

-19,349

3,647

-10,957

29,987

-39,343

11,127

-52,235

52,382

-72,965

62,408

Income taxes receivable

-27,774

-3,698

-1,252

-11,186

17,964

-13,668

-3,250

7,605

18,718

10,262

8,103

12,864

-6,490

-22,091

-11,783

21,063

17,926

-14,836

-39,010

-3,028

-117,452

78,611

-2,499

-2,656

73,236

-40,236

7,454

12,157

2,273

47,277

-39,164

-7,196

11,019

25,293

-2,636

-3,134

-3,521

41,508

-16,551

42,868

-26,427

Other assets and other liabilities, net

47,483

25,339

22,662

28,924

45,327

14,129

-7,027

-15,886

35,757

15,674

2,370

-2,064

9,489

-4,227

1,033

6,272

9,187

-9,089

-7,195

5,631

22,625

6,509

-14,249

-11,249

10,198

-8,153

1,314

-17,489

20,837

-5,199

9,607

-17,109

14,817

-2,027

22,459

-5,936

35,041

8,006

-22,031

-4,106

-120

Other

-496

-354

-90

297

380

249

170

1,331

404

618

159

257

103

-66

169

333

169

169

222

607

272

3,681

-1,699

-34

145

2,757

350

477

513

4,949

-1,824

-685

-165

3,365

-510

-465

-132

63

1,108

-1,375

81

Net Cash Provided by (Used in) Operating Activities

12,403

92,880

88,959

21,247

-37,922

95,161

121,320

51,587

18,951

47,198

89,289

39,667

91,901

109,801

4,854

85,719

60,882

-45,456

38,817

123,161

-45,871

-33,371

138,892

108,357

99,621

-37,398

150,115

123,493

74,018

188,397

125,803

85,691

84,016

129,727

83,550

130,655

49,359

150,249

226,149

138,582

178,736

Cash Flows from Investing Activities
Investments in certain businesses, net of cash acquired

6,011

17,361

77,989

350

83,721

95

86,734

22,098

2,619

0

0

214,523

85,415

2,612

42,136

2,157

198,179

159,320

0

0

0

5,242

70,026

125,159

5,608

100

18,727

500

700

31,368

0

6,426

2,545

4,476

158

69,392

9,673

9,719

0

92

3,534

Purchases of property, plant and equipment

25,235

17,792

23,009

24,451

28,252

39,342

18,344

23,000

17,506

16,495

13,916

14,283

15,664

25,239

19,171

11,512

10,690

16,841

19,778

52,645

47,595

64,858

60,280

53,026

59,128

63,159

55,646

51,190

36,462

72,297

54,561

52,955

44,875

70,759

52,780

53,567

39,275

84,545

74,332

49,807

35,028

Net proceeds from disposition of businesses, property, plant and equipment and investments

218

710

371

18,696

34,718

3,139

-151

4,558

-17,890

593

912

12

1,748

2,713

6

15,486

21,285

42,490

-3,826

7,350

-4,331

395,404

84,872

6,752

157,314

242,305

459

1,705

3,636

1,757

1,147

66,257

7,702

20,315

20,929

4,046

3,867

23,589

3,075

619

11,724

Purchases of marketable equity securities

0

0

0

0

7,500

42,700

0

0

0

-

-

-

-

0

29,991

5,003

13,271

10,683

135,124

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advance Related To Kaplan University Transaction

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments in equity affiliates, cost method and other investments

7,427

1,693

1,494

20,941

3,401

1,023

4,369

1,758

4,552

16,847

55,570

9,662

865

1,723

2,163

1,998

389

6,229

2,204

15,929

905

1,895

5,823

-98,676

101,241

-

-

-

8,623

-

191

23,130

23,003

2,905

332

4,928

0

-

-

-

-

Net proceeds from sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from sales of marketable equity securities

48,000

1,700

400

0

17,200

0

0

17,065

49,635

0

0

0

0

6,865

0

18,445

4,392

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan to related party

0

-

-

-

3,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan to related party and advance related to Kaplan University transaction

-

-

-

-

-

-

0

8,061

20,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Return of investment in equity affiliates

0

134

148

23

615

278

2,465

654

1,402

1,200

0

3,327

200

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,310

-10,740

10,725

18

18

146

-52

-1,571

41

1,563

305

-269

-15,543

76

-1,351

570

Net Cash Provided by (Used in) Investing Activities

9,561

-34,285

-101,549

-27,023

-73,878

-79,702

-107,133

-32,599

-11,530

-31,549

-75,345

-235,129

-99,996

-26,510

-101,185

13,261

-196,852

-150,643

-160,872

-61,224

-52,831

323,273

-1,358

-84,237

-8,663

161,692

-75,203

-52,087

-42,167

-103,633

-53,751

-16,202

-61,150

-57,866

-33,904

-124,146

-44,812

-79,502

-75,510

-27,452

-27,408

Cash Flows from Financing Activities
Repayment of commercial paper, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

Common shares repurchased

33,610

2,103

0

0

0

7,182

16,756

15,091

79,001

15,376

34,999

0

395

18,620

1,266

7,716

81,346

22,979

0

0

0

-

-

-

-

0

0

0

4,196

5,651

23,073

74,336

136

68,601

47,934

10,125

121,395

127,763

233,571

15,654

27,828

Issuance of borrowings

1,023

-

-

-

30,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of borrowings

-

-

-

-

-

0

0

400,000

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from vehicle floor plan payable

2,478

-722

-9,512

15,089

9,529

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

7,703

7,386

7,388

7,388

7,391

7,053

7,111

7,134

7,319

7,025

7,103

7,099

7,102

6,793

6,796

6,798

6,938

6,715

15,690

15,671

15,645

14,983

14,983

19,097

19,051

214

212

215

222

91,092

18,460

18,886

18,889

18,367

18,864

18,872

19,390

19,235

20,858

20,930

21,067

Repayments of borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,000

-2,472

0

-39,343

-

-

-

-9

182

-182

0

-240,121

240,121

0

0

-109,671

-

-

-

-

-

-

-

-

Issuance of noncontrolling interest

0

-536

536

0

6,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

5,335

-

-

-

0

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred payments of acquisition

2,423

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

8,215

837

4,127

-3,379

-1,104

-5,138

6,147

3,809

-4,653

6,362

-1,633

-1,237

-2,092

-14,803

-3,288

6,469

13,427

-

-11,200

11,928

4,606

-1,176

-73

612

28

-2,219

-25,613

19,905

3,311

-21,333

8,123

-5,021

16,459

-24,170

-17,688

-8,949

25,247

-29,482

15,623

16,809

-7,216

Net Cash (Used in) Provided by Financing Activities

-26,685

-6,901

-14,682

3,283

37,034

-25,148

-40,329

-35,909

-90,973

-25,547

-55,420

-9,550

-9,589

-25,787

86,612

-29,045

-74,857

-31,611

-112,248

536,392

-50,382

-12,480

-14,293

-342,811

-19,032

4,115

-22,892

16,575

-241,228

122,045

-33,410

-98,243

-112,237

-1,467

-32,010

-37,946

-115,538

-176,480

-238,806

-19,775

-56,111

Effect Of Currency Exchange Rate Change

-7,684

4,943

-2,955

-998

1,776

-2,931

136

-8,523

4,171

1,052

2,742

2,816

4,210

-7,882

-1,305

-2,937

1,095

-227

-7,040

1,638

-5,535

-5,566

-5,005

881

1,188

-349

3,072

-2,066

-2,402

-32

2,893

-2,118

3,263

-454

-5,839

1,629

2,421

712

7,015

-1,312

-3,906

Net Decrease in Cash and Cash Equivalents and Restricted Cash

-12,405

56,637

-30,227

-3,491

-72,990

-12,620

-26,006

-25,444

-79,381

-8,846

-38,734

-202,196

-13,474

49,622

-11,024

66,998

-209,732

-227,937

-241,343

599,967

-154,619

271,856

118,236

-317,810

73,114

128,060

55,092

85,915

-211,779

206,777

41,535

-30,872

-86,108

69,940

11,797

-29,808

-108,570

-105,021

-81,152

90,043

91,311

Supplemental Cash Flow Information