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Fair Value Measurements (Details 1) - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Assets    
Money market investments $ 45,200 $ 75,500
Marketable equity securities 585,080 496,390
Fair Value, Recurring [Member]    
Assets    
Money market investments [1] 45,150 75,500
Marketable equity securities [2] 585,080 496,390
Other current investments [3] 14,887 18,191
Interest rate swap [4] 131 369
Total Financial Assets 645,248 590,450
Liabilities    
Deferred compensation plan liabilities [5] 34,674 36,080
Interest rate swap [6] 1,119  
Foreign exchange swap [7] 273  
Mandatorily redeemable noncontrolling interest [8] 829  
Total Financial Liabilities 36,895  
Level 1 [Member] | Fair Value, Recurring [Member]    
Assets    
Money market investments [1] 0 0
Marketable equity securities [2] 585,080 496,390
Other current investments [3] 8,843 11,203
Interest rate swap [4] 0 0
Total Financial Assets 593,923 507,593
Liabilities    
Deferred compensation plan liabilities [5] 0 0
Interest rate swap [6] 0  
Foreign exchange swap [7] 0  
Mandatorily redeemable noncontrolling interest [8] 0  
Total Financial Liabilities 0  
Level 2 [Member] | Fair Value, Recurring [Member]    
Assets    
Money market investments [1] 45,150 75,500
Marketable equity securities [2] 0 0
Other current investments [3] 6,044 6,988
Interest rate swap [4] 131 369
Total Financial Assets 51,325 82,857
Liabilities    
Deferred compensation plan liabilities [5] 34,674 $ 36,080
Interest rate swap [6] 1,119  
Foreign exchange swap [7] 273  
Mandatorily redeemable noncontrolling interest [8] 0  
Total Financial Liabilities 36,066  
Level 3 [Member] | Fair Value, Recurring [Member]    
Assets    
Money market investments [1] 0  
Marketable equity securities [2] 0  
Other current investments [3] 0  
Interest rate swap [4] 0  
Total Financial Assets 0  
Liabilities    
Deferred compensation plan liabilities [5] 0  
Interest rate swap [6] 0  
Foreign exchange swap [7] 0  
Mandatorily redeemable noncontrolling interest [8] 829  
Total Financial Liabilities $ 829  
[1]
The Company’s money market investments are included in cash and cash equivalents and the value considers the liquidity of the counterparty.
[2]
The Company’s investments in marketable equity securities are held in common shares of U.S. corporations that are actively traded on U.S. stock exchanges. Price quotes for these shares are readily available.
[3]
Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits. These investments are valued using a market approach based on the quoted market prices of the security or inputs that include quoted market prices for similar instruments and are classified as either Level 1 or Level 2 in the fair value hierarchy.
[4]
Included in Other current assets at December 31, 2019 and Deferred Charges and Other Assets at December 31, 2018. 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.
[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] Included in Accounts payable and accrued liabilities, and valued based on a valuation model that calculates the differential between the contract price and the market-based forward rate.
[8]
The fair value of the mandatorily redeemable noncontrolling interest is based on the fair value of the underlying subsidiaries owned by GHC One (see Note 3), after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined by reference to either a discounted cash flow or EBITDA multiple, which approximates fair value.