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10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 05/03/2017
Entire Document
 


9. OTHER NON-OPERATING INCOME
A summary of non-operating income is as follows:
 
 
Three Months Ended 
 March 31
(in thousands)
 
2017
 
2016
Foreign currency gain (loss), net
 
1,728

 
(5,443
)
(Loss) gain on sales of businesses
 
(342
)
 
18,931

Gain on sales of marketable equity securities
 

 
1,754

Other, net
 
(537
)
 
(146
)
Total Other Non-Operating Income
 
$
849

 
$
15,096

In the first quarter of 2016, Kaplan sold Colloquy, which was a part of Kaplan corporate and other, for a gain of $18.9 million.
10. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The other comprehensive income consists of the following components:
 
  
Three Months Ended March 31
  
2017
 
2016
  
Before-Tax
 
Income
 
After-Tax
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
 
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
  
 
  
 
  
 
  
 
  
 
  
Translation adjustments arising during the period
$
13,668

 
$

 
$
13,668

 
$
3,845

 
$

 
$
3,845

Unrealized gains (losses) on available-for-sale securities:
 
 
  
 
  
 
 
 
  
 
  
Unrealized gains for the period, net
9,558

 
(3,823
)
 
5,735

 
343

 
(137
)
 
206

Reclassification of realized gain on sale of available-for-sale securities included in net income

 

 

 
(1,754
)
 
701

 
(1,053
)
  
9,558

 
(3,823
)
 
5,735

 
(1,411
)
 
564

 
(847
)
Pension and other postretirement plans:
  
 
  
 
  
 
  
 
  
 
  
Amortization of net prior service cost included in net income
120

 
(48
)
 
72

 
104

 
(41
)
 
63

Amortization of net actuarial (gain) loss included in net income
(1,823
)
 
729

 
(1,094
)
 
290

 
(116
)
 
174

  
(1,703
)
 
681

 
(1,022
)
 
394

 
(157
)
 
237

Cash flow hedge:
 
 
  
 
  
 
  
 
  
 
  
Loss for the period
(124
)
 
25

 
(99
)
 

 

 

Other Comprehensive Income
$
21,399

 
$
(3,117
)
 
$
18,282

 
$
2,828

 
$
407

 
$
3,235

The accumulated balances related to each component of other comprehensive income (loss) are as follows:
(in thousands, net of taxes)
Cumulative
Foreign
Currency
Translation
Adjustment
 
Unrealized Gain
on Available-for- Sale Securities
 
Unrealized Gain
on Pensions
and Other
Postretirement
Plans
 
Cash Flow
Hedge
 
Accumulated
Other
Comprehensive
Income
Balance as of December 31, 2016
$
(26,998
)
 
$
92,931

 
$
170,830

 
$
(277
)
 
$
236,486

Other comprehensive income (loss) before reclassifications
13,668

 
5,735

 

 
(124
)
 
19,279

Net amount reclassified from accumulated other comprehensive income (loss)

 

 
(1,022
)
 
25

 
(997
)
Other comprehensive income (loss), net of tax
13,668

 
5,735

 
(1,022
)
 
(99
)
 
18,282

Balance as of March 31, 2017
$
(13,330
)
 
$
98,666

 
$
169,808

 
$
(376
)
 
$
254,768


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