格雷厄姆控股 2026年季度报告

FORM 10-Q Quarterly Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended March31, 2026 or Transition Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number 001-06714 GRAHAM HOLDINGS COMPANY (Exact name of registrant as specified in its charter) Delaware (703) 345-6300(Registrant’s telephone number, including area code) Securities Registered Pursuant to Section12(b) of the Act: Name of each exchange on which registered New York Stock Exchange Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒.No☐. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes☒.No☐. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large AcceleratedFiler☒Acceleratedfiler☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerging growthcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐.No☒. Shares outstanding at April24, 2026: Class A Common Stock – 964,001 SharesClass B Common Stock – 3,343,083 Shares GRAHAM HOLDINGS COMPANYIndex to Form 10-Q PART I. FINANCIAL INFORMATION Item1.Financial StatementsCondensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive IncomeCondensed Consolidated Balance SheetsCondensed Consolidated Statements of Cash FlowsCondensed Consolidated Statements of Changes in Common Stockholders' EquityNotes to Condensed Consolidated Financial StatementsOrganization, Basis of Presentation and Recent Accounting PronouncementsAcquisitions and Dispositions of BusinessesInvestmentsAccounts Receivable, Accounts Payable, Vehicle Floor Plan Payable and Accrued LiabilitiesInventories and Contracts in ProgressGoodwill and Other Intangible AssetsDebtFair Value MeasurementsRevenue From Contracts With CustomersEarnings Per SharePension PlansOther Non-Operating ExpenseAccumulated Other Comprehensive Income (Loss)ContingenciesBusiness SegmentsItem2.Management’s Discussion and Analysis of Results of Operations and Financial ConditionItem3.Quantitative and Qualitative Disclosures about Market RiskItem4.Controls and ProceduresPART II. OTHER INFORMATIONItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem6.ExhibitsSignatures 40 PART I. FINANCIAL INFORMATION GRAHAM HOLDINGS COMPANYCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Operating Costs and Expenses See accompanying Notes to Condensed Consolidated Financial Statements. GRAHAM HOLDINGS COMPANYCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) AssetsCurrent AssetsCash and cash equivalentsRestricted cashInvestments in marketable equity securities and other investmentsAccounts receivable, netInventories and contracts in progressPrepaid expensesIncome taxes receivableOther current assetsCurrent assets held for sale (includes $28,801 of cash and $6,041 of restricted cash)Total Current AssetsProperty, Plant and Equipment, NetLease Right-of-Use AssetsInvestments in AffiliatesGoodwill, NetIndefinite-Lived Intangible AssetsAmortized Intangible Assets, NetPrepaid Pension CostDeferred Income TaxesDeferred Charges and Other AssetsNoncurrent Assets Held for SaleTotal AssetsLiabilities and EquityCurrent LiabilitiesAccounts payable, vehicle floor plan payable and accrued liabilitiesDeferred revenueIncome taxes payableMandatorily redeemable noncontrolling interestCurrent portion of lease liabilitiesCurrent portion of long-term debtDividends declaredCurrent liabilities held for saleTotal Current LiabilitiesAccrued Compensation and Related BenefitsOther LiabilitiesDeferred Income TaxesMandatorily Redeemable Noncontrolling InterestLease LiabilitiesLong-Term DebtNoncurrent Liabilities Held for SaleTotal LiabilitiesCommitments and Contingencies(Note 14)Redeemable Noncontrolling InterestsPreferred StockCommon Stockholders’ Equ