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SEC Filings

8-K
GRAHAM HOLDINGS CO filed this Form 8-K on 11/01/2017
Entire Document
 


  
Nine Months Ended September 30
 
2017
 
2016
(in thousands, except per share amounts)
Income before income taxes
 
Income Taxes
 
Net Income
 
Income before income taxes
 
Income Taxes
 
Net Income
Amounts attributable to Graham Holdings Company Common Stockholders
 
 
 
 
  
 
 
 
 
 
  
As reported
$
127,929

 
$
40,000

 
$
87,929

 
$
186,540

 
$
54,000

 
$
132,540

Attributable to noncontrolling interests
 
 
 
 
(63
)
 
 
 
 
 
(868
)
Attributable to Graham Holdings Company Stockholders
 
 
 
 
$
87,866

 
 
 
 
 
$
131,672

Adjustments:
 
 
 
 
  
 
 
 
 
 
  

Goodwill and other long-lived asset impairment charge
9,224

 
3,413

 
5,811

 

 

 

Foreign currency (gain) loss
(6,608
)
 
(2,445
)
 
(4,163
)
 
33,324

 
11,997

 
21,327

Gain from the sales of land and marketable equity securities

 

 

 
(40,328
)
 
(15,324
)
 
(25,004
)
Gain from the sale of a business and formation of a joint venture

 

 

 
(22,163
)
 
(8,582
)
 
(13,581
)
Write-down of a cost method investment

 

 

 
15,000

 
5,400

 
9,600

Tax benefit related to stock compensation

 
5,933

 
(5,933
)
 

 

 

Nonrecurring deferred tax benefit

 

 

 

 
8,286

 
(8,286
)
Favorable out of period deferred tax adjustment

 

 

 

 
5,631

 
(5,631
)
Net Income, adjusted (non-GAAP)
 
 
 
 
$
83,581

 
 
 
 
 
$
110,097

 
 
 
 
 
 
 
 
 
 
 
 
Per share information attributable to Graham Holdings Company Common Stockholders
 
 
 
 
  
 
 
 
 
 
  
Diluted income per common share, as reported
 
 
 
 
$
15.64

 
 
 
 
 
$
23.21

Adjustments:
 
 
 
 
  

 
 
 
 
 
  

Goodwill and other long-lived asset impairment charge
 
 
 
 
1.03

 
 
 
 
 

Foreign currency (gain) loss
 
 
 
 
(0.74
)
 
 
 
 
 
3.76

Gain from the sales of land and marketable equity securities
 
 
 
 

 
 
 
 
 
(4.42
)
Gain from the sale of a business and formation of a joint venture
 
 
 
 

 
 
 
 
 
(2.37
)
Write-down of a cost method investment
 
 
 
 

 
 
 
 
 
1.70

Tax benefit related to stock compensation
 
 
 
 
(1.06
)
 
 
 
 
 

Nonrecurring deferred tax benefit
 
 
 
 

 
 
 
 
 
(1.47
)
Favorable out of period deferred tax adjustment
 
 
 
 

 
 
 
 
 
(1.00
)
Diluted income per common share, adjusted (non-GAAP)
 
 
 
 
$
14.87

 
 
 
 
 
$
19.41

 
 
 
 
 
 
 
 
 
 
 
 
The adjusted diluted per share amounts may not compute due to rounding.


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