XML 72 R49.htm IDEA: XBRL DOCUMENT v2.4.1.9
Fair Value Measurements (Details 1) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2015
Dec. 31, 2014
Assets    
Marketable equity securities $ 184,915us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent $ 193,793us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
7.25% Unsecured Notes due February 1, 2019 [Member]    
Liabilities:    
7.25% unsecured notes 451,300us-gaap_DebtInstrumentFairValue
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
450,300us-gaap_DebtInstrumentFairValue
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
Fair Value, Measurements, Recurring [Member]    
Assets    
Money market investments 227,485us-gaap_MoneyMarketFundsAtCarryingValue
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[1] 368,131us-gaap_MoneyMarketFundsAtCarryingValue
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[1]
Commercial paper 221,962ghc_CommercialPaperTotal
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[2] 226,197ghc_CommercialPaperTotal
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[2]
Marketable equity securities 184,915us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[3] 193,793us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[3]
Other current investments 30,065us-gaap_OtherShortTermInvestments
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[4] 32,959us-gaap_OtherShortTermInvestments
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[4]
Total Financial Assets 664,427us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
821,080us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Deferred compensation plan liabilities 69,836us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[5] 70,661us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[5]
Interest rate swap   179us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[6]
Total Financial Liabilities 521,092us-gaap_FinancialLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
562,111us-gaap_FinancialLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Fair Value, Measurements, Recurring [Member] | 7.25% Unsecured Notes due February 1, 2019 [Member]    
Liabilities:    
7.25% unsecured notes 451,256us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
[7] 450,344us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
[7]
Fair Value, Measurements, Recurring [Member] | AUD $50 million portion of Revolver [Member]    
Liabilities:    
AUD Revolving credit borrowing   40,927us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_FiftyMillionAustralianDollarPortionOfRevolverMember
[7]
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]    
Assets    
Money market investments 0us-gaap_MoneyMarketFundsAtCarryingValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[1] 0us-gaap_MoneyMarketFundsAtCarryingValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[1]
Commercial paper 221,962ghc_CommercialPaperTotal
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[2] 226,197ghc_CommercialPaperTotal
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[2]
Marketable equity securities 184,915us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[3] 193,793us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[3]
Other current investments 9,917us-gaap_OtherShortTermInvestments
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[4] 11,788us-gaap_OtherShortTermInvestments
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[4]
Total Financial Assets 416,794us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
431,778us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Deferred compensation plan liabilities 0us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[5] 0us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[5]
Interest rate swap   0us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[6]
Total Financial Liabilities 0us-gaap_FinancialLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
0us-gaap_FinancialLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | 7.25% Unsecured Notes due February 1, 2019 [Member]    
Liabilities:    
7.25% unsecured notes 0us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
[7] 0us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
[7]
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | AUD $50 million portion of Revolver [Member]    
Liabilities:    
AUD Revolving credit borrowing   0us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_FiftyMillionAustralianDollarPortionOfRevolverMember
[7]
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]    
Assets    
Money market investments 227,485us-gaap_MoneyMarketFundsAtCarryingValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[1] 368,131us-gaap_MoneyMarketFundsAtCarryingValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[1]
Commercial paper 0ghc_CommercialPaperTotal
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[2] 0ghc_CommercialPaperTotal
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[2]
Marketable equity securities 0us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[3] 0us-gaap_AvailableForSaleSecuritiesEquitySecuritiesCurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[3]
Other current investments 20,148us-gaap_OtherShortTermInvestments
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[4] 21,171us-gaap_OtherShortTermInvestments
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[4]
Total Financial Assets 247,633us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
389,302us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Liabilities:    
Deferred compensation plan liabilities 69,836us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[5] 70,661us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[5]
Interest rate swap   179us-gaap_InterestRateCashFlowHedgeLiabilityAtFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
[6]
Total Financial Liabilities 521,092us-gaap_FinancialLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
562,111us-gaap_FinancialLiabilitiesFairValueDisclosure
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | 7.25% Unsecured Notes due February 1, 2019 [Member]    
Liabilities:    
7.25% unsecured notes 451,256us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
[7] 450,344us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_SevenPointTwoFivePercentUnsecuredNotesDueFebruaryOneTwoThousandAndNineteenMember
[7]
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | AUD $50 million portion of Revolver [Member]    
Liabilities:    
AUD Revolving credit borrowing   $ 40,927us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= ghc_FiftyMillionAustralianDollarPortionOfRevolverMember
[7]
[1] The Company’s money market investments are included in cash, cash equivalents and restricted cash.
[2] The Company's commercial paper investments with original maturities of 90 days or less are included in cash and cash equivalents.
[3] The Company’s investments in marketable equity securities are classified as available-for-sale.
[4] Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits.
[5] Includes Graham Holdings Company's Deferred Compensation Plan and supplemental savings plan benefits under the Graham Holdings Company's Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits. These plans measure the market value of a participant's balance in a notional investment account that is comprised primarily of mutual funds, which are based on observable market prices. However, since the deferred compensation obligations are not exchanged in an active market, they are classified as Level 2 in the fair value hierarchy. Realized and unrealized gains (losses) on deferred compensation are included in operating income.
[6] Included in Other liabilities. The Company utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.
[7] See Note 6 for carrying amount of these notes and borrowing. The fair value of long-term debt is determined based on a number of observable inputs, including the current market activity of the Company’s publicly traded notes, trends in investor demands and market values of comparable publicly traded debt.