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SEC Filings

10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 11/01/2017
Entire Document
 


In November 2016, the FASB issued new guidance that clarifies how restricted cash and restricted cash equivalents should be presented in the statement of cash flows. The guidance requires the cash flow statement to show changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents, which eliminates the presentation of transfers between cash and cash equivalents and restricted cash and cash equivalents. The guidance is effective for interim and fiscal years beginning after December 15, 2017, with early adoption permitted. The Company adopted the new guidance retrospectively as of December 31, 2016. The prior period has been adjusted to reflect this adoption, as detailed below:
 
Nine Months Ended September 30, 2016
 
As
 
 
 
 
 
Previously
 
 
 
As
(in thousands)
Reported
 
Adjustment
 
Adopted
Cash Flows from Operating Activities
  
 
  
 
  
Increase in Restricted Cash
$
(7,266
)
 
$
7,266

 
$

Net Cash Provided by Operating Activities
144,189

 
7,266

 
151,455

 
 
 
 
 
 
Net Decrease in Cash and Cash Equivalents and Restricted Cash
(161,024
)
 
7,266

 
(153,758
)
Cash and Cash Equivalents and Restricted Cash at Beginning of Period
754,207

 
20,745

 
774,952

Cash and Cash Equivalents and Restricted Cash at End of Period
593,183

 
28,011

 
621,194

In January 2017, the FASB issued new guidance which simplifies the subsequent measurement of goodwill. The new guidance eliminates Step 2 from the goodwill impairment test, which required entities to determine the implied fair value of goodwill as of the test date to measure a goodwill impairment charge. Instead, an entity should continue to test goodwill for impairment by comparing the fair value of a reporting unit with its carrying amount (Step 1), and an impairment charge will be recognized for the amount by which the carrying amount exceeds the reporting units fair value. The guidance is effective for interim and fiscal years beginning after December 15, 2019, with early adoption permitted. The Company early adopted this guidance in the second quarter of 2017.

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