Graham (GHC) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	ghc
Entity Registrant Name	GRAHAM HOLDINGS CO
Entity Central Index Key	104,889
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		964,001
Class B Common Stock [Member]
Entity Common Stock, Shares Outstanding		4,876,353

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Operating Revenues [Abstract]
Education	$ 481,687	$ 543,918	$ 1,505,914	$ 1,609,036
Advertising	68,898	72,951	205,489	216,653
Other	90,847	86,336	258,344	183,718
Total Operating Revenues	641,432	703,205	1,969,747	2,009,407
Operating Costs and Expenses [Abstract]
Operating	302,029	326,395	922,373	944,066
Selling, general and administrative	285,563	309,583	864,380	862,379
Depreciation of property, plant and equipment	14,460	18,664	62,266	56,295
Amortization of intangible assets	4,512	7,354	13,897	12,972
Impairment of goodwill and other long-lived assets	248,591	0	255,467	0
Total Operating Costs and Expenses	855,155	661,996	2,118,383	1,875,712
(Loss) Income from Operations	(213,723)	41,209	(148,636)	133,695
Equity in earnings (losses) of affiliates, net	95	4,613	(662)	100,168
Interest income	481	529	1,363	1,769
Interest expense	(7,830)	(9,298)	(24,679)	(26,610)
Other (expense) income, net	(40,458)	(10,723)	(29,885)	390,664
(Loss) Income from Continuing Operations Before Income Taxes	(261,435)	26,330	(202,499)	599,686
(Benefit) Provision for Income Taxes	(30,500)	16,100	(10,000)	140,300
(Loss) Income from Continuing Operations	(230,935)	10,230	(192,499)	459,386
Income from Discontinued Operations, Net of Tax	379	66,209	42,170	499,208
Net (Loss) Income	(230,556)	76,439	(150,329)	958,594
Net (Income) Loss Attributable to Noncontrolling Interests	(287)	121	(1,495)	839
Net (Loss) Income Attributable to Graham Holdings Company	(230,843)	76,560	(151,824)	959,433
Redeemable Preferred Stock Dividends	0	(209)	(631)	(847)
Net (Loss) Income Attributable to Graham Holdings Company Common Stockholders	(230,843)	76,351	(152,455)	958,586
Amounts Attributable to Graham Holdings Company Common Stockholders
(Loss) income from continuing operations	(231,222)	10,142	(194,625)	459,378
Income from discontinued operations, net of tax	379	66,209	42,170	499,208
Net (Loss) Income Attributable to Graham Holdings Company Common Stockholders	$ (230,843)	$ 76,351	$ (152,455)	$ 958,586
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic (loss) income per common share from continuing operations in dollars per share	$ (40.32)	$ 1.73	$ (34.18)	$ 66.77
Basic income per common share from discontinued operations in dollars per share	0.07	11.45	7.99	72.53
Basic net (loss) income per common share in dollars per share	$ (40.25)	$ 13.18	$ (26.19)	$ 139.30
Basic average number of common shares outstanding in shares	5,738	5,671	5,721	6,737
Diluted (loss) income per common share from continuing operations in dollars per share	$ (40.32)	$ 1.73	$ (34.18)	$ 66.52
Diluted income per common share from discontinued operations in dollars per share	0.07	11.39	7.99	72.27
Diluted net (loss) income per common share in dollars per share	$ (40.25)	$ 13.12	$ (26.19)	$ 138.79
Diluted average number of common shares outstanding in shares	5,837	5,757	5,811	6,823

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net (Loss) Income	$ (230,556)	$ 76,439	$ (150,329)	$ 958,594
Foreign currency translation adjustments:
Translation adjustments arising during the period	(10,548)	(9,777)	(17,387)	(7,111)
Adjustment for sales of businesses with foreign operations	6,026	0	5,501	0
Total foreign currency translation adjustments, before tax	(4,522)	(9,777)	(11,886)	(7,111)
Unrealized gains (losses) on available-for-sale securities:
Unrealized gains (losses) for the period, net	3,836	9,734	(16,497)	46,139
Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income	0	0	0	(265,274)
Total unrealized gains (losses) on available-for-sale securities, before tax	3,836	9,734	(16,497)	(219,135)
Pension and other postretirement plans:
Amortization of net prior service cost (credit) included in net income	68	(101)	207	(305)
Amortization of net actuarial gain included in net income	(5,676)	(7,425)	(4,419)	(22,032)
Curtaliment gains included in net income	51	0	51	0
Curtailment and settlement included in distribution to Cable ONE	1,403	0	1,403	0
Total pension and other postretirement plans, before tax	(4,154)	(7,526)	(2,758)	(22,337)
Cash flow hedge gain	0	230	179	641
Other Comprehensive Loss, Before Tax	(4,840)	(7,339)	(30,962)	(247,942)
Income tax benefit (expense) related to items of other comprehensive loss	127	(975)	7,632	96,333
Other Comprehensive Loss, Net of Tax	(4,713)	(8,314)	(23,330)	(151,609)
Comprehensive (Loss) Income	(235,269)	68,125	(173,659)	806,985
Comprehensive (income) loss attributable to noncontrolling interests	(287)	121	(1,495)	839
Total Comprehensive (Loss) Income Attributable to Graham Holdings Company	$ (235,556)	$ 68,246	$ (175,154)	$ 807,824

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 977,991	$ 772,751
Restricted cash	25,347	24,898
Investments in marketable equity securities and other investments	343,076	226,752
Accounts receivable, net	498,710	571,357
Income taxes receivable	41,035	0
Deferred income taxes	4,595	934
Inventories and contracts in progress	12,206	11,309
Other current assets	53,171	81,462
Current assets held for sale ($1,235 of cash)	0	1,240
Total Current Assets	1,956,131	1,690,703
Property, Plant and Equipment, Net	203,113	860,829
Investments in Affiliates	53,198	19,811
Goodwill, Net	947,356	1,348,710
Indefinite-Lived Intangible Assets, Net	14,645	516,753
Amortized Intangible Assets, Net	81,814	96,947
Prepaid Pension Cost	1,189,181	1,152,488
Deferred Charges and Other Assets	78,891	65,258
Noncurrent Assets Held for Sale	0	820
Total Assets	4,524,329	5,752,319
Current Liabilities
Accounts payable and accrued liabilities	410,192	464,342
Income taxes payable	0	128,895
Deferred revenue	334,328	410,146
Dividends declared	6,715	0
Short-term borrowings	3,000	46,375
Redeemable preferred stock	10,510	0
Current liabilities held for sale	0	1,034
Total Current Liabilities	764,745	1,050,792
Postretirement Benefits Other Than Pensions	38,507	37,962
Accrued Compensation and Related Benefits	215,077	244,082
Other Liabilities	73,182	91,789
Deferred Income Taxes	447,158	754,960
Long-Term Debt	399,822	399,545
Total Liabilities	1,938,491	2,579,130
Redeemable Noncontrolling Interest	23,415	21,904
Redeemable Preferred Stock	0	10,510
Preferred Stock	0	0
Common Stockholders’ Equity
Common stock	20,000	20,000
Capital in excess of par value	345,074	303,789
Retained earnings	5,396,508	6,008,506
Accumulated other comprehensive income, net of tax
Cumulative foreign currency translation adjustment	(3,338)	8,548
Unrealized gain on available-for-sale securities	42,232	52,130
Unrealized gain on pensions and other postretirement plans	391,256	392,910
Cash flow hedge	0	(108)
Cost of Class B common stock held in treasury	(3,629,309)	(3,645,476)
Total Common Stockholders’ Equity	2,562,423	3,140,299
Noncontrolling Interests	0	476
Total Equity	2,562,423	3,140,775
Total Liabilities and Equity	$ 4,524,329	$ 5,752,319

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jul. 01, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Cash held for sale	$ 94,115	$ 1,235

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities
Net (Loss) Income	$ (150,329)	$ 958,594
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	134,019	159,917
Amortization of intangible assets	13,958	13,847
Goodwill and other long-lived assets impairment charges	255,467	7,774
Net pension benefit	(45,081)	(51,637)
Early retirement program expense	3,734	8,374
Stock-based compensation expense, net	38,423	13,123
Foreign exchange loss	16,191	2,618
Net loss (gain) on sales and disposition of businesses	18,095	(354,612)
Net loss (gain) on disposition or write-downs of marketable equity securities and cost method investments	1,364	(266,173)
Gain on sale of equity affiliate	(4,827)	0
Equity in losses (earnings) of affiliates, net of certain distributions	853	(96,315)
(Benefit) provision for deferred income taxes	(29,152)	8,329
Net loss (gain) on sale or write-down of property, plant and equipment	1,539	(119,158)
Net gain on sale of intangible assets	0	(75,249)
Change in assets and liabilities:
(Increase) decrease in restricted cash	(449)	45,174
Decrease in accounts receivable, net	(20,480)	(12,867)
Increase (decrease) in accounts payable and accrued liabilities	74,112	(46,673)
(Decrease) increase in deferred revenue	(11,880)	70,011
(Decrease) increase in income taxes payable	(159,490)	68,081
(Increase) decrease in other assets and other liabilities, net	(21,061)	15,300
Other	1,101	(1,588)
Net Cash Provided by Operating Activities	116,107	346,870
Cash Flows from Investing Activities
Purchases of marketable equity securities	(135,124)	(57)
Purchases of property, plant and equipment	(120,018)	(172,434)
Investments in equity affiliates and cost method investments	(19,038)	(8,388)
Net proceeds from sales of businesses, property, plant and equipment and other assets	(807)	248,938
Investments in commercial paper	0	(399,758)
Proceeds from maturities of commercial paper	0	349,793
Investments in certain businesses, net of cash acquired	0	(200,793)
Net distribution from equity affiliate	0	93,481
Other	60	(5,040)
Net Cash Used in Investing Activities	(274,927)	(94,258)
Cash Flows from Financing Activities
Issuance of borrowings	550,000	405
Net cash distributed to Cable ONE in spin-off	(94,115)	0
Dividends paid	(47,006)	(53,131)
Repayments of borrowings	(41,815)	(1,315)
Proceeds from exercise of stock options	11,308	5,056
Payments of financing costs	(9,944)	0
Common shares repurchased, including the Berkshire Exchange transaction	0	(327,718)
Other	5,334	567
Net Cash Provided by (Used in) Financing Activities	373,762	(376,136)
Effect of Currency Exchange Rate Change	(10,937)	(2,936)
Net Increase (Decrease) in Cash and Cash Equivalents	204,005	(126,460)
Beginning Cash and Cash Equivalents, Including Cash of Discontinued Operations	773,986
Beginning Cash and Cash Equivalents	772,751	569,719
Ending Cash and Cash Equivalents	$ 977,991	$ 443,259

Organization, Basis of Presenta

Organization, Basis of Presentation and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Basis of Presentation and Recent Accounting Pronouncements	ORGANIZATION, BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS Graham Holdings Company (the Company), is a diversified education and media company. The Company’s Kaplan subsidiary provides a wide variety of educational services, both domestically and outside the United States. The Company’s media operations comprise the ownership and operation of five television broadcasting stations. The Company's other business operations include home health and hospice services and manufacturing. On July 1, 2015, the Company completed the spin-off of its wholly owned subsidiary, Cable One, Inc. (Cable ONE), by way of a distribution of all the issued and outstanding shares of Cable ONE common stock, on a pro rata basis, to the Company's stockholders. The operating results of Cable ONE have been presented in income from discontinued operations, net of tax, for all periods presented. On September 3, 2015, Kaplan completed the sale of substantially all of the assets of its Kaplan Higher Education (KHE) Campuses business, consisting of 38 nationally accredited ground campuses and certain related assets, to Education Corporation of America (ECA) in exchange for a preferred equity interest in ECA. The loss on the sale of the KHE Campuses business is included in other (expense) income, net, in the Condensed Consolidated Statement of Operations. Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (GAAP) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair statement of the Company’s financial position, results of operations, and cash flows as of and for the periods presented herein. The Company’s results of operations for the three and nine months ended September 30, 2015 and 2014 may not be indicative of the Company’s future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 . The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain businesses as discontinued operations for all periods presented. Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates. Revision of Prior Period Amounts – During the preparation of the 2014 financial statements, the Company concluded that its Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2014 , that was previously included in the Company's quarterly reports, should be revised to correct the impact of accounts payable and accrued expenses related to capital expenditures. The Company revised its Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2014 to properly eliminate noncash capital expenditures. The result of this correction for the nine months ended September 30, 2014 , was an increase in net cash used in investing activities of $10.0 million , with an offsetting increase recorded to net cash provided by operating activities during the same period. Management has concluded that this error is not material to the previously issued Condensed Consolidated Financial Statements, and, as a result, the Company has revised the Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2014 . There was no impact on the previously reported total cash and cash equivalents, Condensed Consolidated Balance Sheet or Condensed Consolidated Statement of Operations. As detailed below, these revisions impacted the following consolidated cash flow items: Nine Months Ended September 30, 2014 As Previously As (in thousands) Reported Revision Revised Cash Flows from Operating Activities Increase (decrease) in Accounts Payable and Accrued Liabilities $ (56,666 ) $ 9,993 $ (46,673 ) Net Cash Provided by Operating Activities 336,877 9,993 346,870 Cash Flows from Investing Activities Purchases of Property, Plant and Equipment $ (162,441 ) $ (9,993 ) $ (172,434 ) Net Cash Used in Investing Activities (84,265 ) (9,993 ) (94,258 ) Recently Adopted and Issued Accounting Pronouncements – In September 2015, the Financial Accounting Standards Board (FASB) issued new guidance that simplifies the accounting for measurement period adjustments for an acquirer in a business combination. The new guidance requires an acquirer to recognize any adjustments to the provisional purchase accounting in the reporting period the adjustment amounts are determined, by eliminating the requirement to retrospectively account for those adjustments. The guidance requires that the acquirer records, in the financial statements of the same period the adjustment is determined, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change in the provisional amounts. The amount of the change is calculated as if the accounting has been completed at the acquisition date. The guidance is effective for interim and fiscal years beginning after December 15, 2015. Early adoption is permitted. The Company does not expect this guidance to have an impact on its Consolidated Financial Statements. In May 2014, the FASB issued comprehensive new guidance that supersedes all existing revenue recognition guidance. In August 2015, the FASB issued an amendment to the guidance that defers the effective date by one year. The new guidance requires revenue to be recognized when the Company transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The new guidance also significantly expands the disclosure requirements for revenue recognition. The guidance is effective for interim and fiscal years beginning after December 15, 2017. Early adoption is permitted only as of annual reporting periods beginning after December 15, 2016. The standard permits two implementation approaches, one requiring retrospective application of the new guidance with a restatement of prior years and one requiring prospective application of the new guidance with disclosure of results under the old guidance. The Company is in the process of evaluating the impact of this new guidance on its Consolidated Financial Statements and believes such evaluation will extend over several future periods because of the significance of the changes to the Company’s policies and business processes. In August 2014, the FASB issued new guidance that requires management to assess the Company’s ability to continue as a going concern and to provide related disclosures in certain circumstances. This guidance is effective for interim and fiscal years ending after December 15, 2016, with early adoption permitted. The Company does not expect this guidance to have an impact on its Consolidated Financial Statements.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS Cable ONE Spin-Off. On July 1, 2015 (the “Distribution Date”), the Company completed the spin-off of Cable ONE as an independent, publicly traded company. The transaction was structured as a tax-free spin-off of Cable ONE to the stockholders of the Company as one share of Cable ONE common stock was distributed for every share of Class A and Class B common stock of Graham Holdings outstanding on the June 15, 2015, record date. Cable ONE is now an independent public company trading on the New York Stock Exchange under the symbol “CABO”. After the spin, the Company does not beneficially own any shares of Cable ONE common stock. The results of operations of Cable ONE are included in the Company’s Condensed Consolidated Statements of Operations as Income from Discontinued Operations, Net of Tax, for all periods presented. The Company did not reclassify its Statements of Cash Flows or prior Condensed Consolidated Balance Sheets to reflect the various discontinued operations. In order to implement the Spin-Off, the Company entered into certain agreements with Cable ONE to give effect to the legal and structural separation and to allocate various assets, liabilities and obligations between the Company and Cable ONE. In addition to executing the Spin-Off in the manner provided in the agreements, in June 2015, Cable ONE distributed $450 million in cash to the Company using the proceeds from their issuance of unsecured notes of $450 million in June 2015. Also, in connection with the spin-off, the Company modified the terms of 10,830 restricted stock awards in the second quarter of 2015 affecting 21 Cable ONE employees. The modification resulted in the acceleration of the vesting period of 6,324 restricted stock awards and the forfeiture of 4,506 restricted stock awards. The Company recorded incremental stock compensation expense, net of forfeitures, in the second quarter of 2015 amounting to $3.7 million , which is reflected as discontinued operations in the Company’s condensed consolidated financial statements. The spin-off resulted in a modification of some of the Company’s outstanding restricted stock awards and stock options due to the equity restructuring on July 1, 2015. The holders of restricted stock awards received Cable ONE restricted common stock, on a pro rata basis, as part of the distribution, while the stock options were modified to add an antidilution provision. The modification of the restricted stock awards resulted in an estimated incremental stock compensation expense of $3.0 million that will be recognized over the remaining service periods of the unvested restricted stock awards through the end of 2018. The modification of some of the stock options resulted in an incremental stock compensation expense of $23.5 million , of which $18.8 million related to fully vested stock options was recognized as a one-time expense in the third quarter of 2015, with the remaining $4.7 million to be recognized over the remaining service periods of the unvested stock options through the end of 2018. The $18.8 million expense is included in the Company's corporate office segment results and in selling, general and administrative in the Condensed Consolidated Statements of Operations. As a result of the spin-off, Cable ONE assumed the liability related to their employees participating in the Company’s SERP, and the Company eliminated the accrual of pension benefits for all Cable ONE employees related to their future service. As a result, the Company remeasured the accumulated and projected benefit obligation of the pension and SERP as of July 1, 2015. A pension curtailment gain of $2.2 million was recorded in the third quarter of 2015 in discontinued operations, net of tax. On July 1, 2015, the Company divested the following assets and liabilities which net to $406.5 million , or $312.3 million net of cash retained by Cable ONE on the Distribution Date: As of (in thousands) July 1, 2015 Cash and cash equivalents $ 94,115 Accounts receivable, net 29,778 Other current assets 14,182 Total current assets 138,075 Property, plant and equipments, net 612,812 Goodwill, net 85,488 Indefinite-lived intangible assets, net 496,321 Amortized intangible assets, net 510 Deferred charges and other assets 22,541 Total Assets $ 1,355,747 Accounts payable and accrued liabilities $ 70,920 Income taxes payable 2,962 Deferred revenue 21,883 Short-term borrowings 2,500 Total current liabilities 98,265 Accrued compensation and related benefits 24,227 Other liabilities 57 Deferred income taxes 279,245 Long-term debt 547,500 Total Liabilities $ 949,294 Net assets divested in the Spin-Off $ 406,453 Cash flows from Cable ONE for the three and nine months ended September 30, 2015 and 2014 are combined with the cash flows from operations within each of the categories presented. Cash flows from Cable ONE are as follows: Three Months Ended Nine Months Ended September 30 September 30 (in thousands) 2015 2014 2015 2014 Net Cash (Used in) Provided by Operating Activities $ (4,468 ) $ 59,863 $ 111,665 $ 187,153 Net Cash Provided by (Used in) Investing Activities — 51,283 (74,416 ) (35,705 ) Spin-Off Costs: One-time Spin-Off transaction and financing and related costs of $7.4 million and $3.5 million in 2015 and 2014, respectively, are included in discontinued operations, net of tax. Other Discontinued Operations: In the third quarter of 2014, Kaplan completed the sale of three of its schools in China that were previously included as part of Kaplan International that resulted in a pre-tax loss of $4.4 million . An additional school in China was sold by Kaplan in January of 2015 that resulted in a pre-tax loss of $0.7 million . On June 30, 2014, the Company and Berkshire Hathaway Inc. completed a transaction, as described in Note 4, in which Berkshire acquired a wholly-owned subsidiary of the Company that included, among other things, WPLG, a Miami-based television station; a $375.0 million gain from the WPLG sale was recorded in the second quarter of 2014. The results of operations of the schools in China and WPLG are included in the Company’s Condensed Consolidated Statements of Operations as Income (Loss) from Discontinued Operations, Net of Tax, for all periods presented. The Company did not reclassify its Statements of Cash Flows or prior Condensed Consolidated Balance Sheets to reflect the various discontinued operations.In the first quarter of 2014, an after-tax adjustment of $3.0 million was made to reduce the $100.0 million after-tax gain on the sale of the Publishing Subsidiaries previously reported in the fourth quarter of 2013, as a result of changes in estimates related to liabilities retained as part of the sale. The summarized income (loss) from discontinued operations, net of tax, is presented below: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Operating revenues $ — $ 196,960 $ 397,404 $ 647,128 Operating costs and expenses 1,662 (157,819 ) (325,379 ) (511,981 ) Operating income 1,662 39,141 72,025 135,147 Non-operating income (expense) — 75,217 (1,288 ) 75,153 Income from discontinued operations 1,662 114,358 70,737 210,300 Provision for income taxes 1,283 42,331 27,783 77,271 Net Income from Discontinued Operations 379 72,027 42,954 133,029 (Loss) gain on sales of discontinued operations — (4,352 ) (732 ) 349,875 Expense (benefit) from income taxes on sales of discontinued operations — 1,466 52 (16,304 ) Income from Discontinued Operations, Net of Tax $ 379 $ 66,209 $ 42,170 $ 499,208 The following table summarizes the 2015 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations: March 31, June 30, (in thousands, except per share amounts) 2015 2015 Operating Revenues Education $ 500,602 $ 523,625 Advertising 66,454 70,137 Other 80,369 87,128 647,425 680,890 Operating Costs and Expenses Operating 309,223 311,121 Selling, general and administrative 302,405 276,412 Depreciation of property, plant and equipment 22,197 25,609 Amortization of intangible assets 4,738 4,647 Impairment of long-lived assets — 6,876 638,563 624,665 Income from Operations 8,862 56,225 Equity in losses of affiliates, net (404 ) (353 ) Interest income 559 323 Interest expense (8,501 ) (8,348 ) Other (expense) income, net (1,105 ) 11,678 (Loss) Income from Continuing Operations before Income Taxes (589 ) 59,525 Provision for Income Taxes 900 19,600 (Loss) Income from Continuing Operations (1,489 ) 39,925 Income from Discontinued Operations, Net of Tax 23,289 18,502 Net Income 21,800 58,427 Net Income Attributable to Noncontrolling Interests (774 ) (434 ) Net Income Attributable to Graham Holdings Company 21,026 57,993 Redeemable Preferred Stock Dividends (420 ) (211 ) Net Income Attributable to Graham Holdings Company Common Stockholders $ 20,606 $ 57,782 Amounts Attributable to Graham Holdings Company Common Stockholders (Loss) income from continuing operations $ (2,683 ) $ 39,280 Income from discontinued operations, net of tax 23,289 18,502 Net income attributable to Graham Holdings Company common stockholders $ 20,606 $ 57,782 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic (loss) income per common share from continuing operations $ (0.58 ) $ 6.74 Basic income per common share from discontinued operations 4.09 3.18 Basic net income per common share $ 3.51 $ 9.92 Diluted (loss) income per common share from continuing operations $ (0.58 ) $ 6.71 Diluted income per common share from discontinued operations 4.06 3.16 Diluted net income per common share $ 3.48 $ 9.87 The following table summarizes the 2014 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations: March 31, June 30, September 30, December 31, (in thousands, except per share amounts) 2014 2014 2014 2014 Operating Revenues Education $ 522,154 $ 542,964 $ 543,918 $ 551,381 Advertising 70,115 73,587 72,951 91,561 Other 40,351 57,031 86,336 84,683 632,620 673,582 703,205 727,625 Operating Costs and Expenses Operating 296,507 321,163 326,395 317,687 Selling, general and administrative 276,294 276,502 309,583 269,779 Depreciation of property, plant and equipment 19,430 18,201 18,664 18,618 Amortization of intangible assets 2,682 2,936 7,354 5,215 Impairment of intangible and other long-lived assets — — — 17,302 594,913 618,802 661,996 628,601 Income from Operations 37,707 54,780 41,209 99,024 Equity in earnings of affiliates, net 4,052 91,503 4,613 202 Interest income 599 641 529 367 Interest expense (8,788 ) (8,525 ) (9,298 ) (8,922 ) Other (expense) income, net 133,273 268,114 (10,723 ) 387,346 Income from Continuing Operations before Income Taxes 166,843 406,513 26,330 478,017 Provision for Income Taxes 62,300 61,900 16,100 172,000 Income from Continuing Operations 104,543 344,613 10,230 306,017 Income from Discontinued Operations, Net of Tax 27,762 405,237 66,209 28,649 Net Income 132,305 749,850 76,439 334,666 Net Loss (Income) Attributable to Noncontrolling Interests 219 499 121 (256 ) Net Income Attributable to Graham Holdings Company 132,524 750,349 76,560 334,410 Redeemable Preferred Stock Dividends (426 ) (212 ) (209 ) — Net Income Attributable to Graham Holdings Company Common Stockholders $ 132,098 $ 750,137 $ 76,351 $ 334,410 Amounts Attributable to Graham Holdings Company Common Stockholders Income from continuing operations $ 104,336 $ 344,900 $ 10,142 $ 305,761 Income from discontinued operations, net of tax 27,762 405,237 66,209 28,649 Net income attributable to Graham Holdings Company common stockholders $ 132,098 $ 750,137 $ 76,351 $ 334,410 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic income per common share from continuing operations $ 14.10 $ 46.35 $ 1.73 $ 52.76 Basic income per common share from discontinued operations 3.75 54.45 11.45 4.95 Basic net income per common share $ 17.85 $ 100.80 $ 13.18 $ 57.71 Diluted income per common share from continuing operations $ 14.05 $ 46.20 $ 1.73 $ 52.48 Diluted income per common share from discontinued operations 3.74 54.28 11.39 4.93 Diluted net income per common share $ 17.79 $ 100.48 $ 13.12 $ 57.41 The following table summarizes the annual operating results of the Company following the reclassification of operations discussed above as discontinued operations: (in thousands, except per share amounts) 2014 2013 Operating Revenues Education $ 2,160,417 $ 2,163,734 Advertising 308,214 275,024 Other 268,401 161,844 2,737,032 2,600,602 Operating Costs and Expenses Operating 1,261,753 1,210,863 Selling, general and administrative 1,132,157 1,123,965 Depreciation of property, plant and equipment 74,913 101,171 Amortization of intangible assets 18,187 11,919 Impairment of intangible and other long-lived assets 17,302 3,250 2,504,312 2,451,168 Income from Operations 232,720 149,434 Equity in earnings of affiliates, net 100,370 13,215 Interest income 2,136 2,264 Interest expense (35,533 ) (35,931 ) Other income (expense), net 778,010 (23,751 ) Income from Continuing Operations before Income Taxes 1,077,703 105,231 Provision for Income Taxes 312,300 40,500 Income from Continuing Operations 765,403 64,731 Income from Discontinued Operations, Net of Tax 527,857 172,614 Net Income 1,293,260 237,345 Net Loss (Income) Attributable to Noncontrolling Interests 583 (480 ) Net Income Attributable to Graham Holdings Company 1,293,843 236,865 Redeemable Preferred Stock Dividends (847 ) (855 ) Net Income Attributable to Graham Holdings Company Common Stockholders $ 1,292,996 $ 236,010 Amounts Attributable to Graham Holdings Company Common Stockholders Income from continuing operations $ 765,139 $ 63,396 Income from discontinued operations, net of tax 527,857 172,614 Net income attributable to Graham Holdings Company common stockholders $ 1,292,996 $ 236,010 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic income per common share from continuing operations $ 115.88 $ 8.62 Basic income per common share from discontinued operations 79.93 23.48 Basic net income per common share $ 195.81 $ 32.10 Diluted income per common share from continuing operations $ 115.40 $ 8.61 Diluted income per common share from discontinued operations 79.63 23.44 Diluted net income per common share $ 195.03 $ 32.05

Investments

Investments	9 Months Ended
	Sep. 30, 2015
Investments [Abstract]
Investments	INVESTMENTS As of September 30, 2015 and December 31, 2014 , the Company had commercial paper and money market investments of $804.7 million and $594.3 million , respectively, that are classified as cash, cash equivalents and restricted cash in the Company's Condensed Consolidated Balance Sheets. Investments in marketable equity securities comprised the following: As of September 30, December 31, (in thousands) Total cost $ 242,505 $ 106,909 Gross unrealized gains 74,263 86,884 Gross unrealized losses (3,876 ) — Total Fair Value $ 312,892 $ 193,793 The Company invested $135.6 million in marketable equity securities during the first nine months of 2015 . There were no new investments in marketable equity securities during the first nine months of 2014 . There were no sales of marketable equity securities in the first nine months of 2015 . In the first quarter of 2014, the Company recorded a $0.5 million write-down of the Company's investment in Corinthian Colleges, Inc., a publicly traded company. In the second quarter of 2014, the Company sold its remaining investment in Corinthian Colleges, Inc. During the first nine months of 2014 , the proceeds from sales of these marketable securities were $5.8 million and net realized losses were $2.6 million . On June 30, 2014, the Company completed a transaction with Berkshire Hathaway, as described in Note 4, that included the exchange of 2,107 Class A Berkshire shares and 1,278 Class B Berkshire shares owned by the Company; a $266.7 million gain was recorded. In the second quarter of 2015, the Company acquired an approximate 20% in HomeHero, a company that created and manages an online senior home care marketplace, which is accounted for as an investment in affiliate. As of September 30, 2015 , the Company also held a 40% interest in Residential Home Health Illinois, a 42.5% interest in Residential Hospice Illinois, a 40% interest in the joint venture formed between Celtic Healthcare and Allegheny Health Network (AHN) and interests in several other affiliates (see Note 4). On April 1, 2014, the Company received a gross cash distribution of $95.0 million from Classified Ventures' sale of apartments.com. In connection with this sale, the Company recorded a pre-tax gain of $90.9 million in the second quarter of 2014.

Acquisitions, Dispositions, Exc

Acquisitions, Dispositions, Exchanges and Other	9 Months Ended
	Sep. 30, 2015
Acqusitions and Dispositions [Abstract]
Acquisitions, Dispositions, Exchanges and Other	ACQUISITIONS, DISPOSITIONS, EXCHANGES AND OTHER Acquisitions. In the first nine months of 2015 , the Company did no t make any acquisitions. In the first nine months of 2014 , the Company acquired seven businesses totaling $204.9 million , comprised of four businesses in other businesses, two businesses in Kaplan Test Prep, and one business in Kaplan Higher Ed. The purchase price allocation mostly comprised goodwill, other intangible assets, and other current assets. On April 1, 2014, Celtic Healthcare acquired VNA-TIP Healthcare, a provider of home health and hospice services in Missouri and Illinois. On May 30, 2014, the Company completed its acquisition of Joyce/Dayton Corp., a Dayton, OH-based manufacturer of screw jacks and other linear motion systems. On July 3, 2014, the Company completed its acquisition of an 80% interest in Residential Healthcare Group, Inc., the parent company of Residential Home Health and Residential Hospice, providers of skilled home health care and hospice services in Michigan and Illinois. The operating results of these businesses are included in other businesses. Residential Healthcare Group, Inc. has a 40% ownership interest in Residential Home Health Illinois and a 42.5% ownership interest in Residential Hospice Illinois, which are accounted for as investments in affiliates. Dispositions. On July 1, 2015, the Company completed the spin-off of Cable ONE, by way of a distribution of all the issued and outstanding shares of Cable ONE common stock, on a pro rata basis, to the Company's stockholders (see Note 2). On September 3, 2015, Kaplan completed the sale of substantially all of the assets of its KHE Campuses business, consisting of 38 nationally accredited ground campuses and certain related assets, in exchange for a preferred equity interest in Education Corporation of America (ECA). KHE Campuses schools that have been closed or are in the process of closing are not included in the sale transaction. In connection with the sale agreement, if required by the ED in connection with its post-closing review of the transaction, Kaplan will provide a letter of credit or other credit support with the ED of up to approximately $45 million ; any such letter of credit or other credit support could be drawn by the ED in the event that ECA defaults on its obligations to students. If issued, such letter of credit or other credit support would have a term of two years , after which Kaplan would have no further obligations. The revenue and operating losses related to schools that are being sold as part of the ECA transaction are as follows: Three Months Ended Nine Months Ended September 30 September 30 (in thousands) 2015 2014 2015 2014 Revenue $ 43,121 $ 66,314 $ 167,244 $ 202,577 Operating loss 629 (2,474 ) (6,672 ) (9,981 ) In the second quarter of 2015, Kaplan recorded a $6.9 million long-lived assets impairment charge in connection with the KHE Campuses business. In the third quarter of 2015, Kaplan sold Franklyn Scholar, which was part of Kaplan International. In the second quarter of 2015, the Company sold The Root, a component of Slate, and Kaplan sold two small businesses, Structuralia, which was part of Kaplan International, and Fire and EMS Training, which was part of Kaplan Higher Education. As a result of these sales, the Company reported gains (losses) in other non-operating (expense) income (see Note 10). In the third quarter of 2014, Kaplan completed the sale of three of its schools in China that were previously included as part of Kaplan International. In January 2015, Kaplan completed the sale of an additional school in China. Exchanges. On June 30, 2014, the Company and Berkshire Hathaway Inc. completed a previously announced transaction in which Berkshire acquired a wholly-owned subsidiary of the Company that included, among other things, WPLG, a Miami-based television station, 2,107 Class A Berkshire shares and 1,278 Class B Berkshire shares owned by Graham Holdings and $327.7 million in cash, in exchange for 1,620,190 shares of Graham Holdings Class B common stock owned by Berkshire Hathaway (Berkshire exchange transaction). Other. In January 2015, Celtic and Allegheny Health Network closed on the formation of a joint venture to combine each other’s home health and hospice assets in the western Pennsylvania region. Although Celtic manages the operations of the joint venture, Celtic holds a 40% interest in the joint venture, so the operating results of the joint venture are not consolidated and the pro rata operating results are included in the Company’s equity in earnings of affiliates. Celtic’s revenues from the western Pennsylvania region that are now part of the joint venture made up 29% of total Celtic revenues in 2014. The Company’s income from continuing operations excludes Cable ONE, the sold Kaplan China schools and WPLG, which have been reclassified to discontinued operations, net of tax (see Note 2).

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS As a result of continued declines in student enrollments at KHE and the challenging industry operating environment, the Company performed an interim impairment review of its goodwill and long-lived assets at the KHE reporting unit. Due to the complexity and effort required to estimate the fair value of the KHE reporting unit in step one of the impairment test and the fair value of the assets and liabilities of the KHE reporting unit in the step two analysis, the Company derived the fair value estimates based on preliminary assumptions and analysis that are subject to change. The KHE reporting unit failed the preliminary step one goodwill test. As a result of the preliminary step two analysis, the Company recorded an estimated $248.6 million goodwill impairment charge. The Company estimated the fair value of the KHE reporting unit utilizing a discounted cash flow model, supported by a market approach. A substantial portion of the estimated impairment charge is due to the amount of unrecognized intangible assets identified in the preliminary step two analysis. Any adjustment to the estimated impairment charge will be recorded in the fourth quarter of 2015. In the second quarter of 2014, as a result of regulatory changes impacting Kaplan's operations in China, Kaplan recorded an intangible asset impairment charge of $7.8 million , reported in discontinued operations. The Company estimated the fair value of the student and customer relationships using an income approach. Amortization of intangible assets for the three months ended September 30, 2015 and 2014 was $4.5 million and $7.4 million , respectively. Amortization of intangible assets for the nine months ended September 30, 2015 and 2014 was $13.9 million and $13.0 million , respectively. Amortization of intangible assets is estimated to be approximately $4 million for the remainder of 2015 , $17 million in 2016 , $14 million in 2017 , $13 million in 2018 , $12 million in 2019 and $22 million thereafter. In July 2014, the cable division sold wireless spectrum licenses that were purchased in 2006; a pre-tax non-operating gain of $75.2 million was recorded in the third quarter of 2014 in connection with these sales. As a result of the Cable spin-off, this amount is now recorded in discontinued operations. The changes in the carrying amount of goodwill, by segment, were as follows: (in thousands) Education Cable Television Broadcasting Other Businesses Total Balance as of December 31, 2014 Goodwill $ 1,057,226 $ 85,488 $ 168,345 $ 145,992 $ 1,457,051 Accumulated impairment losses (102,259 ) — — (6,082 ) (108,341 ) 954,967 85,488 168,345 139,910 1,348,710 Measurement period adjustment — — — 4,570 4,570 Impairment (248,591 ) — — — (248,591 ) Dispositions (33,502 ) (85,488 ) — (7,819 ) (126,809 ) Foreign currency exchange rate changes (30,524 ) — — — (30,524 ) Balance as of September 30, 2015 Goodwill 993,200 — 168,345 142,743 1,304,288 Accumulated impairment losses (350,850 ) — — (6,082 ) (356,932 ) $ 642,350 $ — $ 168,345 $ 136,661 $ 947,356 The Company recorded a $4.6 million measurement period adjustment in the second quarter of 2015 upon the finalization of the purchase accounting related to deferred income taxes in connection with the acquisition of Residential Healthcare, Inc. The balance sheet as of December 31, 2014 has not been revised for the measurement period adjustment as the Company believes it is not material to the Company's financial position. The changes in carrying amount of goodwill at the Company’s education division were as follows: (in thousands) Higher Education Test Preparation Kaplan International Total Balance as of December 31, 2014 Goodwill $ 409,884 $ 166,098 $ 481,244 $ 1,057,226 Accumulated impairment losses — (102,259 ) — (102,259 ) 409,884 63,839 481,244 954,967 Impairment (248,591 ) — — (248,591 ) Dispositions (28,738 ) — (4,764 ) (33,502 ) Foreign currency exchange rate changes (280 ) — (30,244 ) (30,524 ) Balance as of September 30, 2015 Goodwill 380,866 166,098 446,236 993,200 Accumulated impairment losses (248,591 ) (102,259 ) — (350,850 ) $ 132,275 $ 63,839 $ 446,236 $ 642,350 Other intangible assets consist of the following: As of September 30, 2015 As of December 31, 2014 (in thousands) Useful Life Range Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Accumulated Net Amortized Intangible Assets Noncompete agreements 2–5 years $ 1,681 $ 1,232 $ 449 $ 2,500 $ 1,590 $ 910 Student and customer relationships 2–10 years 86,839 37,528 49,311 104,685 47,539 57,146 Databases and technology 3–5 years 10,518 9,367 1,151 10,501 8,827 1,674 Trade names and trademarks 2–10 years 53,140 22,709 30,431 55,452 19,724 35,728 Other 1–6 years (1) 2,184 1,712 472 8,969 7,480 1,489 $ 154,362 $ 72,548 $ 81,814 $ 182,107 $ 85,160 $ 96,947 Indefinite-Lived Intangible Assets Franchise agreements $ — $ 496,321 Licensure and accreditation 994 6,781 Other 13,651 13,651 $ 14,645 $ 516,753 ___________ _ (1) The Company’s other amortized intangible assets maximum useful life was 25 years as of December 31, 2014.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT The Company’s borrowings consist of the following: As of September 30, December 31, (in thousands) 7.25% unsecured notes due February 1, 2019 $ 398,619 $ 398,308 AUD Revolving credit borrowing — 40,927 Other indebtedness 4,203 6,685 Total Debt 402,822 445,920 Less: current portion (3,000 ) (46,375 ) Total Long-Term Debt $ 399,822 $ 399,545 The Company’s other indebtedness at September 30, 2015 is at an interest rate of 6% and matures from 2015 to 2017 . The Company’s other indebtedness at December 31, 2014 is at interest rates from 0% to 6% and matures from 2015 to 2017 . On June 30, 2015, the Company's debt included $550 million related to Cable ONE. With the Cable ONE spin-off effective on July 1, 2015, the Cable ONE debt is no longer an obligation of the Company. On June 17, 2015, the Company terminated its U.S. $450 million , AUD 50 million four-year revolving credit facility dated June 17, 2011. No borrowings were outstanding under the 2011 Credit Agreement at the time of termination. On June 29, 2015, the Company entered into a credit agreement (the Credit Agreement) providing for a new U.S. $200 million five-year revolving credit facility (the Facility) with each of the lenders party thereto, Wells Fargo Bank, National Association as Administrative Agent (Wells Fargo), JPMorgan Chase Bank, N.A., as Syndication Agent, and HSBC Bank USA, National Association, as Documentation Agent (the Credit Agreement). The Company is required to pay a commitment fee on a quarterly basis, based on the Company's leverage ratio, of between 0.15% and 0.25% of the amount of the Facility. Any borrowings are made on an unsecured basis and bear interest at the Company’s option, either at (a) a fluctuating interest rate equal to the highest of Wells Fargo’s prime rate, 0.50 percent above the Federal funds rate or the one-month Eurodollar rate plus 1% , or (b) the Eurodollar rate for the applicable interest period as defined in the Credit Agreement which is generally a periodic rate equal to LIBOR, in each case plus an applicable margin that depends on the Company’s consolidated debt to consolidated adjusted EBITDA (as determined pursuant to the Credit Agreement, “leverage ratio”). The Company may draw on the Facility for general corporate purposes. The Facility will expire on July 1, 2020, unless the Company and the banks agree to extend the term. Any outstanding borrowings must be repaid on or prior to the final termination date. The Credit Agreement contains terms and conditions, including remedies in the event of a default by the Company, typical of facilities of this type and requires the Company to maintain a leverage ratio of not greater than 3.5 to 1.0 and a consolidated interest coverage ratio of at least 3.5 to 1.0 based upon the ratio of consolidated adjusted EBITDA to consolidated interest expense as determined pursuant to the Credit Agreement. As of September 30, 2015 , the Company is in compliance with all financial covenants. On March 9, 2015, the Company repaid the AUD 50 million borrowed under its revolving credit facility. On the same day, the AUD 50 million interest rate swap agreements matured. During the three months ended September 30, 2015 and 2014 , the Company had average borrowings outstanding of approximately $404.2 million and $450.9 million , respectively, at average annual interest rates of approximately 7.2% and 7.0% , respectively. During the three months ended September 30, 2015 and 2014 , the Company incurred net interest expense of $7.3 million and $8.8 million , respectively. During the nine months ended September 30, 2015 and 2014 , the Company had average borrowings outstanding of approximately $436.3 million and $451.4 million , respectively, at average annual interest rates of approximately 7.0% . During the nine months ended September 30, 2015 and 2014 , the Company incurred net interest expense of $23.3 million and $24.8 million , respectively. At September 30, 2015 , the fair value of the Company’s 7.25% unsecured notes, based on quoted market prices, totaled $422.0 million , compared with the carrying amount of $398.6 million . At December 31, 2014 , the fair value of the Company’s 7.25% unsecured notes, based on quoted market prices, totaled $450.3 million , compared with the carrying amount of $398.3 million . The carrying value of the Company’s other unsecured debt at September 30, 2015 approximates fair value.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows: As of September 30, 2015 (in thousands) Level 1 Level 2 Total Assets Money market investments (1) $ — $ 554,913 $ 554,913 Commercial paper (2) 249,827 — 249,827 Marketable equity securities (3) 312,892 — 312,892 Other current investments (4) 16,031 14,153 30,184 Total Financial Assets $ 578,750 $ 569,066 $ 1,147,816 Liabilities Deferred compensation plan liabilities (5) $ — $ 48,765 $ 48,765 ___________ _ (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. As of December 31, 2014 (in thousands) Level 1 Level 2 Total Assets Money market investments (1) $ — $ 368,131 $ 368,131 Commercial paper (2) 226,197 — 226,197 Marketable equity securities (3) 193,793 — 193,793 Other current investments (4) 11,788 21,171 32,959 Total Financial Assets $ 431,778 $ 389,302 $ 821,080 Liabilities Deferred compensation plan liabilities (5) $ — $ 70,661 $ 70,661 Interest rate swap (6) — 179 179 Total Financial Liabilities $ — $ 70,840 $ 70,840 ____________ (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. In the third quarter of 2015, the Company recorded an estimated preliminary goodwill impairment charge of $248.6 million . In the second quarter of 2015, the Company recorded a long-lived asset impairment charge of $6.9 million . In the second quarter of 2014, the Company recorded an intangible asset impairment charge of $7.8 million , reported in discontinued operations (see Note 5). The remeasurements of the goodwill and other long-lived assets are classified as Level 3 fair value assessments due to the significance of unobservable inputs developed in the determination of the fair values. The Company used a discounted cash flow model to determine the estimated fair value of the reporting unit. A market value approach was also utilized to supplement the discounted cash flow model. The Company made estimates and assumptions regarding future cash flows, discount rates, long-term growth rates and market values to determine the reporting unit’s estimated fair value.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY Stock Awards. As a result of the Cable ONE spin-off, the number of Class B common stock authorized for issuance under the 2012 Incentive Compensation Plan (the 2012 Plan) was increased from 500,000 shares to 772,588 shares. The individual award limits under the 2012 Plan was also increased from 50,000 shares to 77,258 shares per calendar year. Redeemable Preferred Stock. In the third quarter of 2015, the Company notified the holders of the Series A preferred stock of its intention to redeem the shares. On October 1, 2015, the Company redeemed the remaining 10,510 Series A preferred stock, with a par value of $1.00 per share and a liquidation preference of $1,000 per share, for $10.5 million . The Company reclassified the Series A preferred stock to current liabilities in the third quarter of 2015. (Loss) Earnings Per Share . On June 30, 2014, the Company acquired 1,620,190 of its Class B common stock owned by Berkshire Hathaway, as described in Note 4. The Company's unvested restricted stock awards contain nonforfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The diluted earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the treasury stock method, resulting in the presentation of the lower amount in diluted earnings per share. The computation of the earnings per share under the two-class method excludes the income attributable to the unvested restricted stock awards from the numerator and excludes the dilutive impact of those underlying shares from the denominator. The following reflects the Company's income from continuing operations and share data used in the basic and diluted (loss) earnings per share computations using the two-class method: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Numerator for basic (loss) earnings per share: (Loss) income from continuing operations attributable to Graham Holdings Company common stockholders $ (231,222 ) $ 10,142 $ (194,625 ) $ 459,378 Less: Dividends-common stock outstanding and unvested restricted shares (6,736 ) (14,773 ) (53,090 ) (67,267 ) Undistributed (loss) earnings (237,958 ) (4,631 ) (247,715 ) 392,111 Percent allocated to common stockholders (1) 100.00 % 100.00 % 100.00 % 97.89 % (237,958 ) (4,631 ) (247,715 ) 383,842 Add: Dividends-common stock outstanding 6,621 14,462 52,180 66,021 Numerator for basic (loss) earnings per share $ (231,337 ) $ 9,831 $ (195,535 ) $ 449,863 Add: Additional undistributed earnings due to dilutive stock options — — — 36 Numerator for diluted (loss) earnings per share $ (231,337 ) $ 9,831 $ (195,535 ) $ 449,899 Denominator: Denominator for basic (loss) earnings per share: Weighted average shares outstanding 5,738 5,671 5,721 6,737 Add: Effect of dilutive stock options — 25 — 25 Denominator for diluted (loss) earnings per share 5,738 5,696 5,721 6,762 Graham Holdings Company Common Stockholders: Basic (loss) earnings per share from continuing operations $ (40.32 ) $ 1.73 $ (34.18 ) $ 66.77 Diluted (loss) earnings per share from continuing operations $ (40.32 ) $ 1.73 $ (34.18 ) $ 66.52 ____________ (1) Percent of undistributed losses allocated to common stockholders is 100% in the third quarter of 2015 and 2014 and first nine months of 2015 as participating securities are not contractually obligated to share in losses. Diluted (loss) earnings per share excludes the following weighted average potential common shares, as the effect would be antidilutive, as computed under the treasury stock method: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Weighted average restricted stock 50 61 53 61 Weighted average stock options 49 — 37 — The diluted loss per share amounts for the three and nine months ended September 30, 2015 exclude the effects of 77,258 stock options outstanding as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2014 exclude the effects of 5,000 stock options outstanding as their inclusion would have been antidilutive. The diluted loss per share amounts for the three and nine months ended September 30, 2015 exclude the effects of 5,050 restricted stock awards as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2014 exclude the effects of 6,075 restricted stock awards, as their inclusion would have been antidilutive. In the three and nine months ended September 30, 2015 the Company declared regular dividends totaling $1.15 and $9.10 , respectively. In the three and nine months ended September 30, 2014 , the Company declared regular dividends totaling $2.55 and $10.20 , respectively.

Pension and Postretirement Plan

Pension and Postretirement Plans	9 Months Ended
	Sep. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Pension and Postretirement Plans	PENSION AND POSTRETIREMENT PLANS Cable ONE Spin-Off. On July 1, 2015, as part of the spin-off, Cable ONE assumed the liability related to their employees participating in the Company's Supplemental Executive Retirement Plan (SERP). The Company also eliminated the accrual of pension benefits for all Cable ONE employees related to their future service. As a result of the spin-off of Cable ONE, the Company remeasured the accumulated and projected benefit obligation of the pension plan and SERP as of July 1, 2015, and recorded curtailment and settlement gains. The new measurement basis was used for the recognition of the SERP cost recorded in the third quarter of 2015 and the pension benefit recorded for the first two months of the third quarter of 2015. The curtailment gain on the spin-off of Cable ONE is included in (loss) income from discontinued operations, net of tax. The settlement gain on the spin-off of Cable ONE is included in the SERP liability distributed to Cable ONE (see Note 2). KHE Campuses Sale . On September 3, 2015, the Company eliminated the accrual of pension benefits for almost all of the KHE Campus employees related to their future service. As a result, the Company remeasured the accumulated and projected benefit obligation of the pension plan as of September 3, 2015, and the Company recorded a curtailment gain in the third quarter of 2015. The new measurement basis was used for the recognition of the Company's pension benefit beginning in September 2015. The curtailment gain on the sale of the KHE Campuses is included in the loss on the sale of the KHE Campuses and reported in Other (expense) income, net on the Condensed Consolidated Statement of Operations. Defined Benefit Plans. The total benefit arising from the Company’s defined benefit pension plans, including a portion included in discontinued operations, consists of the following components: Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2015 2014 2015 2014 Service cost $ 6,090 $ 6,976 $ 20,593 $ 21,489 Interest cost 13,516 12,894 39,077 38,870 Expected return on assets (33,673 ) (29,877 ) (96,771 ) (90,644 ) Amortization of prior service cost 79 83 241 247 Recognized actuarial gain (6,057 ) (7,280 ) (6,057 ) (21,599 ) Net Periodic Benefit (20,045 ) (17,204 ) (42,917 ) (51,637 ) Curtailment gains (3,267 ) — (3,267 ) — Early retirement programs and special separation benefit expense 3,734 3,884 3,734 8,374 Total Benefit $ (19,578 ) $ (13,320 ) $ (42,450 ) $ (43,263 ) For the three and nine months ended September 30, 2015 , the net periodic benefit for the Company's pension plans, as reported above, includes benefits of $0.1 million and costs of $1.9 million , respectively, reported in discontinued operations. For the three and nine months ended September 30, 2014 , the net periodic benefit for the Company's pension plans, as reported above, includes costs of $0.9 million and $2.8 million , respectively, reported in discontinued operations. The curtailment gain of $2.2 million related to the Cable spin-off is also included in discontinued operations for the three and nine months ended September 30, 2015 . The curtailment gain of $1.1 million related to the sale of the KHE Campuses business is included in Other (expense) income, net. In the third quarter of 2015, the Company recorded $3.7 million related to a Separation Incentive Program for certain Kaplan employees, which is being funded from the assets of the Company's pension plan. In the first quarter of 2014, the Company recorded $4.5 million related to a Separation Incentive Program for certain Corporate employees, which is being funded from the assets of the Company's pension plan. In the third quarter of 2014, the Company recorded $3.9 million related to a Voluntary Retirement Incentive Program (VRIP) for certain Corporate employees, which is being funded from the assets of the Company's pension plan. The total cost arising from the Company’s Supplemental Executive Retirement Plan (SERP), including a portion included in discontinued operations, consists of the following components: Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2015 2014 2015 2014 Service cost $ 464 $ 373 $ 1,482 $ 1,119 Interest cost 1,140 1,086 3,410 3,257 Amortization of prior service cost 115 12 343 35 Recognized actuarial loss 630 374 2,385 1,124 Net Periodic Cost 2,349 1,845 7,620 5,535 Special separation benefit expense — 2,422 — 2,422 Total Cost $ 2,349 $ 4,267 $ 7,620 $ 7,957 For the nine months ended September 30, 2015 , the net periodic cost for the Company's SERP, as reported above, includes costs of $0.2 million reported in discontinued operations. For the three and nine months ended September 30, 2014 , the net periodic cost for the Company's SERP, as reported above, includes costs of $0.1 million and $0.4 million , respectively, reported in discontinued operations. Defined Benefit Plan Assets. The Company’s defined benefit pension obligations are funded by a portfolio made up of a relatively small number of stocks and high-quality fixed-income securities that are held by a third-party trustee. The assets of the Company’s pension plan were allocated as follows: As of September 30, December 31, U.S. equities 54 % 59 % U.S. fixed income 13 % 13 % International equities 33 % 28 % 100 % 100 % Essentially all of the assets are actively managed by two investment companies. The goal of the investment managers is to produce moderate long-term growth in the value of these assets, while protecting them against large decreases in value. Both of these managers may invest in a combination of equity and fixed-income securities and cash. The managers are not permitted to invest in securities of the Company or in alternative investments. The investment managers cannot invest more than 20% of the assets at the time of purchase in the stock of Berkshire Hathaway or more than 10% of the assets in the securities of any other single issuer, except for obligations of the U.S. Government, without receiving prior approval by the Plan administrator. As of September 30, 2015 , the managers can invest no more than 24% of the assets in specified international exchanges, at the time the investment is made, and no less than 10% of the assets could be invested in fixed-income securities. None of the assets is managed internally by the Company. In determining the expected rate of return on plan assets, the Company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the Company may consult with and consider the input of financial and other professionals in developing appropriate return benchmarks. The Company evaluated its defined benefit pension plan asset portfolio for the existence of significant concentrations (defined as greater than 10% of plan assets) of credit risk as of September 30, 2015 . Types of concentrations that were evaluated include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country and individual fund. At September 30, 2015 , the pension plan held common stock in one investment that exceeded 10% of total plan assets, valued at $580.6 million , or 24% of total plan assets. At December 31, 2014 , the pension plan held common stock in two investments that exceeded 10% of total plan assets, valued at $730.6 million , or 30% of total plan assets. At September 30, 2015 and December 31, 2014 , the pension plan held investments in one foreign country that exceeded 10% of total plan assets. These investments were valued at $582.0 million and $468.0 million at September 30, 2015 and December 31, 2014 , respectively, or approximately 24% and 19% , respectively, of total plan assets. Other Postretirement Plans. The total cost arising from the Company’s other postretirement plans consists of the following components: Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2015 2014 2015 2014 Service cost $ 333 $ 375 $ 999 $ 1,125 Interest cost 325 362 974 1,086 Amortization of prior service credit (126 ) (196 ) (377 ) (587 ) Recognized actuarial gain (249 ) (519 ) (747 ) (1,557 ) Net Periodic Cost $ 283 $ 22 $ 849 $ 67

Other Non-Operating (Expense) I

Other Non-Operating (Expense) Income	9 Months Ended
	Sep. 30, 2015
Other Nonoperating Income (Expense) [Abstract]
Other Non-Operating Income (Expense)	OTHER NON-OPERATING (EXPENSE) INCOME A summary of non-operating (expense) income is as follows: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Net losses on sales of businesses $ (26,253 ) $ — $ (23,335 ) $ — Foreign currency loss, net (12,972 ) (10,564 ) (16,191 ) (2,618 ) Gain on formation of joint venture — — 5,972 — Additional gain on sale of Classified Ventures — — 4,827 — Gain on Berkshire marketable equity securities exchange — — — 266,733 Gain on sale of headquarters building — — — 127,670 Losses on sales or write-down of marketable equity securities — — — (3,044 ) Other, net (1,233 ) (159 ) (1,158 ) 1,923 Total Other Non-Operating (Expense) Income $ (40,458 ) $ (10,723 ) $ (29,885 ) $ 390,664 In the third quarter of 2015, Kaplan sold the KHEC Campuses business, and Franklyn Scholar, which was part of Kaplan International, for a loss of $26.3 million . In the second quarter of 2015, the Company sold The Root and Kaplan sold two small businesses for a total gain of $2.9 million . In the second quarter of 2015, the Company benefited from a favorable $4.8 million out of period adjustment to the gain on the sale of Classified Ventures related to the fourth quarter of 2014. With respect to this error, the Company has concluded that it was not material to the Company's financial position or results of operations for 2015 and 2014 and the related interim periods, based on its consideration of quantitative and qualitative factors. In January 2015, Celtic contributed assets to a joint venture entered into with AHN in exchange for a 40% equity interest, resulting in the Company recording a $6.0 million gain (see Note 4). The Company used an income and market approach to value the equity interest. The measurement of the equity interest in the joint venture is classified as a Level 3 fair value assessment due to the significance of unobservable inputs developed in the determination of the fair value. On June 30, 2014, the Company completed a transaction with Berkshire Hathaway, as described in Note 4 that included the exchange of 2,107 Class A Berkshire shares and 1,278 Class B Berkshire shares owned by the Company; a $266.7 million gain was recorded. On March 27, 2014, the Company completed the sale of its headquarters building for $158 million . In connection with the sale, the Company recorded a $127.7 million pre-tax gain.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The other comprehensive loss consists of the following components: Three Months Ended September 30 2015 2014 Before-Tax Income After-Tax Before-Tax Income After-Tax (in thousands) Amount Tax Amount Amount Tax Amount Foreign currency translation adjustments: Translation adjustments arising during the period $ (10,548 ) $ — $ (10,548 ) $ (9,777 ) $ — $ (9,777 ) Adjustment for sales of businesses with foreign operations 6,026 — 6,026 — — — (4,522 ) — (4,522 ) (9,777 ) — (9,777 ) Unrealized gains on available-for-sale securities: Unrealized gains for the period, net 3,836 (1,535 ) 2,301 9,734 (3,894 ) 5,840 Pension and other postretirement plans: Amortization of net prior service cost (credit) included in net income 68 (27 ) 41 (101 ) 41 (60 ) Amortization of net actuarial gain included in net income (5,676 ) 2,271 (3,405 ) (7,425 ) 2,970 (4,455 ) Curtailment gains included in net income 51 (21 ) 30 — — — Curtailment and settlement included in distribution to Cable ONE 1,403 (561 ) 842 — — — (4,154 ) 1,662 (2,492 ) (7,526 ) 3,011 (4,515 ) Cash flow hedge: Gain for the period — — — 230 (92 ) 138 Other Comprehensive Loss $ (4,840 ) $ 127 $ (4,713 ) $ (7,339 ) $ (975 ) $ (8,314 ) Nine Months Ended September 30 2015 2014 Before-Tax Income After-Tax Before-Tax Income After-Tax (in thousands) Amount Tax Amount Amount Tax Amount Foreign currency translation adjustments: Translation adjustments arising during the period $ (17,387 ) $ — $ (17,387 ) $ (7,111 ) $ — $ (7,111 ) Adjustment for sales of businesses with foreign operations 5,501 — 5,501 — — — (11,886 ) — (11,886 ) (7,111 ) — (7,111 ) Unrealized (losses) gains on available-for-sale securities: Unrealized (losses) gains for the period, net (16,497 ) 6,599 (9,898 ) 46,139 (18,456 ) 27,683 Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income — — — (265,274 ) 106,110 (159,164 ) (16,497 ) 6,599 (9,898 ) (219,135 ) 87,654 (131,481 ) Pension and other postretirement plans: Amortization of net prior service cost (credit) included in net income 207 (82 ) 125 (305 ) 122 (183 ) Amortization of net actuarial gain included in net income (4,419 ) 1,768 (2,651 ) (22,032 ) 8,813 (13,219 ) Curtailment gains included in net income 51 (21 ) 30 — — — Curtailment and settlement included in distribution to Cable ONE 1,403 (561 ) 842 — — — (2,758 ) 1,104 (1,654 ) (22,337 ) 8,935 (13,402 ) Cash flow hedge: Gain for the period 179 (71 ) 108 641 (256 ) 385 Other Comprehensive Loss $ (30,962 ) $ 7,632 $ (23,330 ) $ (247,942 ) $ 96,333 $ (151,609 ) The accumulated balances related to each component of other comprehensive (loss) income are as follows: (in thousands, net of taxes) Cumulative Foreign Currency Translation Adjustment Unrealized Gain on Available-for- Sale Securities Unrealized Gain on Pensions and Other Postretirement Plans Cash Flow Hedge Accumulated Other Comprehensive Income Balance as of December 31, 2014 $ 8,548 $ 52,130 $ 392,910 $ (108 ) $ 453,480 Other comprehensive (loss) income before reclassifications (17,387 ) (9,898 ) 842 29 (26,414 ) Net amount reclassified from accumulated other comprehensive income 5,501 — (2,496 ) 79 3,084 Other comprehensive (loss) income, net of tax (11,886 ) (9,898 ) (1,654 ) 108 (23,330 ) Balance as of September 30, 2015 $ (3,338 ) $ 42,232 $ 391,256 $ — $ 430,150 The amounts and line items of reclassifications out of Accumulated Other Comprehensive (Loss) Income are as follows: Three Months Ended Nine Months Ended Affected Line Item in the Condensed Consolidated Statement of Operations (in thousands) 2015 2014 2015 2014 Foreign Currency Translation Adjustments: Adjustment for sales of businesses with foreign operations $ 6,026 $ — $ 5,501 $ — Other (expense) income, net Unrealized Gains on Available-for-sale Securities: Realized gain for the period — — — (265,274 ) Other (expense) income, net — — — 106,110 (1) — — — (159,164 ) Net of Tax Pension and Other Postretirement Plans: Amortization of net prior service cost (credit) 68 (101 ) 207 (305 ) (2) Amortization of net actuarial gain (5,676 ) (7,425 ) (4,419 ) (22,032 ) (2) Curtailment gains 51 — 51 — (2) (5,557 ) (7,526 ) (4,161 ) (22,337 ) Before tax 2,223 3,011 1,665 8,935 (Benefit) Provision for Income Taxes (3,334 ) (4,515 ) (2,496 ) (13,402 ) Net of Tax Cash Flow Hedge — 217 132 645 Interest expense — (87 ) (53 ) (258 ) (Benefit) Provision for Income Taxes — 130 79 387 Net of Tax Total reclassification for the period $ 2,692 $ (4,385 ) $ 3,084 $ (172,179 ) Net of Tax ____________ (1) Benefits of $1.2 million were recorded in Provision for Income Taxes related to the realized loss for the nine months ended September 30, 2014. The remaining $107.3 million for the nine months ended September 30, 2014, relates to the reversal of income taxes previously recorded on the unrealized gain of the Company’s investment in Berkshire Hathaway Inc. marketable equity securities as part of the Berkshire exchange transaction (see Note 4). (2) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 9).

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES Litigation and Legal Matters. The Company and its subsidiaries are involved in various legal proceedings that arise in the ordinary course of its business. Although the outcomes of the legal claims and proceedings against the Company cannot be predicted with certainty, based on currently available information, management believes that there are no existing claims or proceedings that are likely to have a material effect on the Company's business, financial condition, results of operations or cash flows. Also, based on currently available information, management is of the opinion that the exposure to future material losses from existing legal proceedings is not reasonably possible, or that future material losses in excess of the amounts accrued are not reasonably possible. Certain Kaplan subsidiaries are subject to two unsealed cases filed by former employees that include, among other allegations, claims under the False Claims Act relating to eligibility for Title IV funding. The U.S. Government declined to intervene in all cases, and, as previously reported, court decisions either dismissed the cases in their entirety or narrowed the scope of their allegations. The two cases are captioned: United States of America ex rel. Carlos Urquilla-Diaz et al . v . Kaplan University et al. (unsealed March 25, 2008) and United States of America ex rel. Charles Jajdelski v . Kaplan Higher Education Corp . et al. (unsealed January 6, 2009). On August 17, 2011, the U.S. District Court for the Southern District of Florida issued a series of rulings in the Diaz case, which included three separate complaints: Diaz, Wilcox and Gillespie. The court dismissed the Wilcox complaint in its entirety; dismissed all False Claims Act allegations in the Diaz complaint, leaving only an individual employment claim; and dismissed in part the Gillespie complaint, thereby limiting the scope and time frame of its False Claims Act allegations regarding compliance with the U.S. Federal Rehabilitation Act. On October 31, 2012, the court entered summary judgment in favor of the Company as to the sole remaining employment claim in the Diaz complaint. On July 16, 2013, the court likewise entered summary judgment in favor of the Company on all remaining claims in the Gillespie complaint. Diaz and Gillespie each appealed to the U.S. Court of Appeals for the Eleventh Judicial Court. Arguments on both appeals were heard on February 3, 2015. On March 11, 2015, the court issued a decision affirming the lower court's dismissal of all of Gillespie's claims and three of the four Diaz claims but reversing and remanding on one remaining claim. In September 2015, Diaz filed an amended complaint and Kaplan filed a motion to dismiss. On July 7, 2011, the U.S. District Court for the District of Nevada dismissed the Jajdelski complaint in its entirety and entered a final judgment in favor of Kaplan. On February 13, 2013, the U.S. Circuit Court for the Ninth Judicial Circuit affirmed the dismissal in part and reversed the dismissal on one allegation under the False Claims Act relating to eligibility for Title IV funding based on claims of false attendance. The surviving claim was remanded to the District Court, where Kaplan has moved for summary judgment, which the court granted on March 9, 2015; the plaintiff filed a notice of appeal in the second quarter of 2015. ED Program Reviews. The U.S. Department of Education (ED) has undertaken program reviews at various KHE locations. Currently, there are five open program reviews, four of which are at campuses that were part of the KHE Campuses business, including the ED’s final reports on the program reviews at KHE’s Broomall, PA, and Pittsburgh, PA, locations. Kaplan retains responsibility for any financial obligation resulting from the ED program reviews at the KHE Campuses business. The ED conducted a program review at Kaplan University in the first quarter of 2015, covering all aspects of Kaplan University's financial aid systems and on the standards for determining student attendance in online programs. A failure to properly determine student attendance under the federal Title IV rules could result in a failure to refund the proper amount of Title IV aid to the ED when a student withdraws from the program. The Company does not expect the open program reviews to have a material impact on KHE; however, the results of open program reviews and their impact on Kaplan’s operations are uncertain. The 90/10 Rule . Under regulations referred to as the 90/10 rule, a KHE school would lose its eligibility to participate in Title IV programs for a period of at least two fiscal years if the institution derives more than 90% of its receipts from Title IV programs, as calculated on a cash basis in accordance with the Higher Education Act and applicable ED regulations, in each of two consecutive fiscal years. An institution with Title IV receipts exceeding 90% for a single fiscal year would be placed on provisional certification and may be subject to other enforcement measures. The 90/10 rule calculations are performed for each OPEID unit. KHE is taking various measures to reduce the percentage of its receipts attributable to Title IV funds, including modifying student payment options; emphasizing direct-pay and employer-paid education programs; encouraging students to carefully evaluate the amount of their Title IV borrowing; eliminating some programs; cash-matching; and developing and offering additional non-Title IV-eligible certificate preparation, professional development and continuing education programs. While there can be no guarantee that these measures will be adequate to prevent the 90/10 ratio at some of the schools from exceeding 90% in the future, management currently estimates that each of KHE's continuing operations campuses will be 90/10 compliant in 2015.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS The Company has five reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International, television broadcasting and other businesses. Cable. Due to the spin-off of Cable ONE on July 1, 2015, the cable division is no longer included as a separate segment as its results have been reclassified to discontinued operations, net of tax, for all periods presented. The following table summarizes the 2015 quarterly financial information related to each of the Company’s business segments: March 31, June 30, September 30, (in thousands) 2015 2015 2015 Operating Revenues Education $ 500,602 $ 523,625 $ 481,746 Television broadcasting 83,564 90,753 89,693 Other businesses 63,259 66,512 70,052 Corporate office — — — Intersegment elimination — — (59 ) $ 647,425 $ 680,890 $ 641,432 Income (Loss) From Operations Education $ (22,849 ) $ 15,848 $ (242,777 ) Television broadcasting 38,562 42,014 40,526 Other businesses (5,162 ) (2,161 ) (3,059 ) Corporate office (1,689 ) 524 (8,413 ) $ 8,862 $ 56,225 $ (213,723 ) Equity in (Losses) Earnings of Affiliates, Net (404 ) (353 ) 95 Interest Expense, Net (7,942 ) (8,025 ) (7,349 ) Other (Expense) Income, Net (1,105 ) 11,678 (40,458 ) (Loss) Income from Continuing Operations Before Income Taxes $ (589 ) $ 59,525 $ (261,435 ) Depreciation of Property, Plant and Equipment Education $ 18,528 $ 21,980 $ 10,637 Television broadcasting 2,109 2,125 2,237 Other businesses 1,302 1,254 1,335 Corporate office 258 250 251 $ 22,197 $ 25,609 $ 14,460 Amortization of Intangible Assets and Impairment of Goodwill and Other Long-lived Assets Education $ 1,507 $ 8,343 $ 249,930 Television broadcasting 63 63 63 Other businesses 3,168 3,117 3,110 Corporate office — — — $ 4,738 $ 11,523 $ 253,103 Net Pension (Credit) Expense Education $ 3,947 $ 3,947 $ 7,525 Television broadcasting 391 391 425 Other businesses 193 186 328 Corporate office (16,938 ) (16,939 ) (24,533 ) $ (12,407 ) $ (12,415 ) $ (16,255 ) The following table summarizes the 2014 quarterly financial information related to each of the Company’s business segments: March 31, June 30, September 30, December 31, (in thousands) 2014 2014 2014 2014 Operating Revenues Education $ 522,154 $ 542,964 $ 543,918 $ 551,381 Television broadcasting 85,651 88,297 87,442 102,446 Other businesses 24,913 42,351 71,845 73,798 Corporate office — — — — Intersegment elimination (98 ) (30 ) — — $ 632,620 $ 673,582 $ 703,205 $ 727,625 Income (Loss) from Operations Education $ 1,862 $ 17,637 $ 12,551 $ 33,413 Television broadcasting 44,386 44,088 44,979 54,380 Other businesses (10,747 ) (6,995 ) (9,292 ) 5,948 Corporate office 2,206 50 (7,029 ) 5,283 $ 37,707 $ 54,780 $ 41,209 $ 99,024 Equity in Earnings of Affiliates, Net 4,052 91,503 4,613 202 Interest Expense, Net (8,189 ) (7,884 ) (8,769 ) (8,555 ) Other Expense, Net 133,273 268,114 (10,723 ) 387,346 Income from Continuing Operations Before Income Taxes $ 166,843 $ 406,513 $ 26,330 $ 478,017 Depreciation of Property, Plant and Equipment Education $ 16,416 $ 15,372 $ 15,237 $ 14,713 Television broadcasting 1,994 2,039 2,148 2,228 Other businesses 520 780 1,201 1,430 Corporate office 500 10 78 247 $ 19,430 $ 18,201 $ 18,664 $ 18,618 Amortization of Intangible Assets and Impairment of Intangibles and Other Long-lived Assets Education $ 1,924 $ 1,798 $ 1,927 $ 19,292 Television broadcasting — — — 32 Other businesses 758 1,138 5,427 3,193 Corporate office — — — — $ 2,682 $ 2,936 $ 7,354 $ 22,517 Net Pension (Credit) Expense Education $ 4,143 $ 3,566 $ 3,854 $ 3,855 Television broadcasting 320 358 338 338 Other businesses 164 202 191 191 Corporate office (17,679 ) (22,933 ) (18,620 ) (23,070 ) $ (13,052 ) $ (18,807 ) $ (14,237 ) $ (18,686 ) The following table summarizes financial information related to each of the Company's business segments: Nine Months Ended September 30 Year Ended December 31 (in thousands) 2015 2014 2014 2013 Operating Revenues Education $ 1,505,973 $ 1,609,036 $ 2,160,417 $ 2,163,734 Television broadcasting 264,010 261,390 363,836 308,306 Other businesses 199,823 139,109 212,907 128,803 Corporate office — — — — Intersegment elimination (59 ) (128 ) (128 ) (241 ) $ 1,969,747 $ 2,009,407 $ 2,737,032 $ 2,600,602 (Loss) Income from Operations Education $ (249,778 ) $ 32,050 $ 65,463 $ 50,989 Television broadcasting 121,102 133,452 187,833 145,192 Other businesses (10,382 ) (27,034 ) (21,086 ) (23,468 ) Corporate office (9,578 ) (4,773 ) 510 (23,279 ) $ (148,636 ) $ 133,695 $ 232,720 $ 149,434 Equity in (Losses) Earnings of Affiliates, Net (662 ) 100,168 100,370 13,215 Interest Expense, Net (23,316 ) (24,841 ) (33,397 ) (33,667 ) Other (Expense) Income, Net (29,885 ) 390,664 778,010 (23,751 ) (Loss) Income from Continuing Operations Before Income Taxes $ (202,499 ) $ 599,686 $ 1,077,703 $ 105,231 Depreciation of Property, Plant and Equipment Education $ 51,145 $ 47,024 $ 61,737 $ 89,622 Television broadcasting 6,471 6,181 8,409 8,746 Other businesses 3,891 2,501 3,931 2,177 Corporate office 759 589 836 626 $ 62,266 $ 56,295 $ 74,913 $ 101,171 Amortization of Intangible Assets and Impairment of Goodwill and Other Long-lived Assets Education $ 259,780 $ 5,649 $ 24,941 $ 11,753 Television broadcasting 189 — 32 — Other businesses 9,395 7,323 10,516 3,416 Corporate office — — — — $ 269,364 $ 12,972 $ 35,489 $ 15,169 Net Pension (Credit) Expense Education $ 15,419 $ 11,563 $ 15,418 $ 16,538 Television broadcasting 1,207 1,016 1,355 3,961 Other businesses 707 557 748 610 Corporate office (58,410 ) (59,231 ) (82,301 ) (41,836 ) $ (41,077 ) $ (46,095 ) $ (64,780 ) $ (20,727 ) Asset information for the Company’s business segments are as follows: As of (in thousands) September 30, December 31, Identifiable Assets Education $ 1,249,359 $ 1,781,543 Television broadcasting 309,232 305,426 Other businesses 472,272 518,807 Corporate office 938,195 1,778,391 $ 2,969,058 $ 4,384,167 Investments in Marketable Equity Securities 312,892 193,793 Investments in Affiliates 53,198 19,811 Prepaid Pension Cost 1,189,181 1,152,488 Assets Held for Sale — 2,060 Total Assets $ 4,524,329 $ 5,752,319 The Company’s education division comprises the following operating segments: Three Months Ended Nine Months Ended September 30 September 30 (in thousands) 2015 2014 2015 2014 Operating Revenues Higher education $ 203,529 $ 249,882 $ 681,814 $ 755,597 Test preparation 83,706 85,108 233,313 234,010 Kaplan international 192,702 207,615 585,486 615,507 Kaplan corporate and other 1,905 1,492 5,723 4,891 Intersegment elimination (96 ) (179 ) (363 ) (969 ) $ 481,746 $ 543,918 $ 1,505,973 $ 1,609,036 Income (Loss) from Operations Higher education $ 3,153 $ 5,391 $ 28,510 $ 39,487 Test preparation 13,620 6,980 16,365 (3,552 ) Kaplan international 8,295 13,853 33,585 40,609 Kaplan corporate and other (267,882 ) (13,651 ) (328,333 ) (44,608 ) Intersegment elimination 37 (22 ) 95 114 $ (242,777 ) $ 12,551 $ (249,778 ) $ 32,050 Depreciation of Property, Plant and Equipment Higher education $ 4,066 $ 7,320 $ 13,688 $ 22,140 Test preparation 2,052 2,865 7,205 9,721 Kaplan international 4,277 4,951 14,004 14,546 Kaplan corporate and other 242 101 16,248 617 $ 10,637 $ 15,237 $ 51,145 $ 47,024 Amortization of Intangible Assets $ 1,339 $ 1,927 $ 4,313 $ 5,649 Impairment of Goodwill and Other Long-lived Assets $ 248,591 $ — $ 255,467 $ — Pension Expense Higher education $ 3,964 $ 2,628 $ 9,028 $ 7,885 Test preparation 775 722 2,325 2,166 Kaplan international 114 89 326 267 Kaplan corporate and other 2,672 415 3,740 1,245 $ 7,525 $ 3,854 $ 15,419 $ 11,563 In the third quarter of 2015, a favorable $3.0 million out of period revenue adjustment was included at the test preparation segment that related to prior periods from 2011 through the second quarter of 2015. With respect to this error, the Company has concluded that it was not material to the Company's financial position or results of operations for 2015 and prior years and the related interim periods, based on its consideration of quantitative and qualitative factors. Identifiable assets for the Company’s education division consist of the following: As of (in thousands) September 30, December 31, Identifiable assets Higher education $ 227,406 $ 749,421 Test preparation 147,998 167,055 Kaplan international 811,672 838,148 Kaplan corporate and other 62,283 26,919 $ 1,249,359 $ 1,781,543

Organization, Basis of Presen20

Organization, Basis of Presentation And Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (GAAP) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair statement of the Company’s financial position, results of operations, and cash flows as of and for the periods presented herein. The Company’s results of operations for the three and nine months ended September 30, 2015 and 2014 may not be indicative of the Company’s future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 . The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain businesses as discontinued operations for all periods presented.
Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements	Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates.

Organization, Basis of Presen21

Organization, Basis of Presentation and Recent Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2015
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Schedule of Error Corrections and Prior Period Adjustments	As detailed below, these revisions impacted the following consolidated cash flow items: Nine Months Ended September 30, 2014 As Previously As (in thousands) Reported Revision Revised Cash Flows from Operating Activities Increase (decrease) in Accounts Payable and Accrued Liabilities $ (56,666 ) $ 9,993 $ (46,673 ) Net Cash Provided by Operating Activities 336,877 9,993 346,870 Cash Flows from Investing Activities Purchases of Property, Plant and Equipment $ (162,441 ) $ (9,993 ) $ (172,434 ) Net Cash Used in Investing Activities (84,265 ) (9,993 ) (94,258 )

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Summarized Discontinued Operations Information	The summarized income (loss) from discontinued operations, net of tax, is presented below: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Operating revenues $ — $ 196,960 $ 397,404 $ 647,128 Operating costs and expenses 1,662 (157,819 ) (325,379 ) (511,981 ) Operating income 1,662 39,141 72,025 135,147 Non-operating income (expense) — 75,217 (1,288 ) 75,153 Income from discontinued operations 1,662 114,358 70,737 210,300 Provision for income taxes 1,283 42,331 27,783 77,271 Net Income from Discontinued Operations 379 72,027 42,954 133,029 (Loss) gain on sales of discontinued operations — (4,352 ) (732 ) 349,875 Expense (benefit) from income taxes on sales of discontinued operations — 1,466 52 (16,304 ) Income from Discontinued Operations, Net of Tax $ 379 $ 66,209 $ 42,170 $ 499,208
CY Quarterly Operating Results After Reclassifying Certain Operations As Discontinued Operations	The following table summarizes the 2015 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations: March 31, June 30, (in thousands, except per share amounts) 2015 2015 Operating Revenues Education $ 500,602 $ 523,625 Advertising 66,454 70,137 Other 80,369 87,128 647,425 680,890 Operating Costs and Expenses Operating 309,223 311,121 Selling, general and administrative 302,405 276,412 Depreciation of property, plant and equipment 22,197 25,609 Amortization of intangible assets 4,738 4,647 Impairment of long-lived assets — 6,876 638,563 624,665 Income from Operations 8,862 56,225 Equity in losses of affiliates, net (404 ) (353 ) Interest income 559 323 Interest expense (8,501 ) (8,348 ) Other (expense) income, net (1,105 ) 11,678 (Loss) Income from Continuing Operations before Income Taxes (589 ) 59,525 Provision for Income Taxes 900 19,600 (Loss) Income from Continuing Operations (1,489 ) 39,925 Income from Discontinued Operations, Net of Tax 23,289 18,502 Net Income 21,800 58,427 Net Income Attributable to Noncontrolling Interests (774 ) (434 ) Net Income Attributable to Graham Holdings Company 21,026 57,993 Redeemable Preferred Stock Dividends (420 ) (211 ) Net Income Attributable to Graham Holdings Company Common Stockholders $ 20,606 $ 57,782 Amounts Attributable to Graham Holdings Company Common Stockholders (Loss) income from continuing operations $ (2,683 ) $ 39,280 Income from discontinued operations, net of tax 23,289 18,502 Net income attributable to Graham Holdings Company common stockholders $ 20,606 $ 57,782 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic (loss) income per common share from continuing operations $ (0.58 ) $ 6.74 Basic income per common share from discontinued operations 4.09 3.18 Basic net income per common share $ 3.51 $ 9.92 Diluted (loss) income per common share from continuing operations $ (0.58 ) $ 6.71 Diluted income per common share from discontinued operations 4.06 3.16 Diluted net income per common share $ 3.48 $ 9.87
2014 Quarterly Operating Results After Reclassifying Certain Operations As Discontinued Operations	The following table summarizes the 2014 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations: March 31, June 30, September 30, December 31, (in thousands, except per share amounts) 2014 2014 2014 2014 Operating Revenues Education $ 522,154 $ 542,964 $ 543,918 $ 551,381 Advertising 70,115 73,587 72,951 91,561 Other 40,351 57,031 86,336 84,683 632,620 673,582 703,205 727,625 Operating Costs and Expenses Operating 296,507 321,163 326,395 317,687 Selling, general and administrative 276,294 276,502 309,583 269,779 Depreciation of property, plant and equipment 19,430 18,201 18,664 18,618 Amortization of intangible assets 2,682 2,936 7,354 5,215 Impairment of intangible and other long-lived assets — — — 17,302 594,913 618,802 661,996 628,601 Income from Operations 37,707 54,780 41,209 99,024 Equity in earnings of affiliates, net 4,052 91,503 4,613 202 Interest income 599 641 529 367 Interest expense (8,788 ) (8,525 ) (9,298 ) (8,922 ) Other (expense) income, net 133,273 268,114 (10,723 ) 387,346 Income from Continuing Operations before Income Taxes 166,843 406,513 26,330 478,017 Provision for Income Taxes 62,300 61,900 16,100 172,000 Income from Continuing Operations 104,543 344,613 10,230 306,017 Income from Discontinued Operations, Net of Tax 27,762 405,237 66,209 28,649 Net Income 132,305 749,850 76,439 334,666 Net Loss (Income) Attributable to Noncontrolling Interests 219 499 121 (256 ) Net Income Attributable to Graham Holdings Company 132,524 750,349 76,560 334,410 Redeemable Preferred Stock Dividends (426 ) (212 ) (209 ) — Net Income Attributable to Graham Holdings Company Common Stockholders $ 132,098 $ 750,137 $ 76,351 $ 334,410 Amounts Attributable to Graham Holdings Company Common Stockholders Income from continuing operations $ 104,336 $ 344,900 $ 10,142 $ 305,761 Income from discontinued operations, net of tax 27,762 405,237 66,209 28,649 Net income attributable to Graham Holdings Company common stockholders $ 132,098 $ 750,137 $ 76,351 $ 334,410 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic income per common share from continuing operations $ 14.10 $ 46.35 $ 1.73 $ 52.76 Basic income per common share from discontinued operations 3.75 54.45 11.45 4.95 Basic net income per common share $ 17.85 $ 100.80 $ 13.18 $ 57.71 Diluted income per common share from continuing operations $ 14.05 $ 46.20 $ 1.73 $ 52.48 Diluted income per common share from discontinued operations 3.74 54.28 11.39 4.93 Diluted net income per common share $ 17.79 $ 100.48 $ 13.12 $ 57.41
Yearly Operating Results After Reclassifying Certain Operations As Discontinued Operations	The following table summarizes the annual operating results of the Company following the reclassification of operations discussed above as discontinued operations: (in thousands, except per share amounts) 2014 2013 Operating Revenues Education $ 2,160,417 $ 2,163,734 Advertising 308,214 275,024 Other 268,401 161,844 2,737,032 2,600,602 Operating Costs and Expenses Operating 1,261,753 1,210,863 Selling, general and administrative 1,132,157 1,123,965 Depreciation of property, plant and equipment 74,913 101,171 Amortization of intangible assets 18,187 11,919 Impairment of intangible and other long-lived assets 17,302 3,250 2,504,312 2,451,168 Income from Operations 232,720 149,434 Equity in earnings of affiliates, net 100,370 13,215 Interest income 2,136 2,264 Interest expense (35,533 ) (35,931 ) Other income (expense), net 778,010 (23,751 ) Income from Continuing Operations before Income Taxes 1,077,703 105,231 Provision for Income Taxes 312,300 40,500 Income from Continuing Operations 765,403 64,731 Income from Discontinued Operations, Net of Tax 527,857 172,614 Net Income 1,293,260 237,345 Net Loss (Income) Attributable to Noncontrolling Interests 583 (480 ) Net Income Attributable to Graham Holdings Company 1,293,843 236,865 Redeemable Preferred Stock Dividends (847 ) (855 ) Net Income Attributable to Graham Holdings Company Common Stockholders $ 1,292,996 $ 236,010 Amounts Attributable to Graham Holdings Company Common Stockholders Income from continuing operations $ 765,139 $ 63,396 Income from discontinued operations, net of tax 527,857 172,614 Net income attributable to Graham Holdings Company common stockholders $ 1,292,996 $ 236,010 Per Share Information Attributable to Graham Holdings Company Common Stockholders Basic income per common share from continuing operations $ 115.88 $ 8.62 Basic income per common share from discontinued operations 79.93 23.48 Basic net income per common share $ 195.81 $ 32.10 Diluted income per common share from continuing operations $ 115.40 $ 8.61 Diluted income per common share from discontinued operations 79.63 23.44 Diluted net income per common share $ 195.03 $ 32.05
Cable Spin-Off [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Summarized Discontinued Operations Information	On July 1, 2015, the Company divested the following assets and liabilities which net to $406.5 million , or $312.3 million net of cash retained by Cable ONE on the Distribution Date: As of (in thousands) July 1, 2015 Cash and cash equivalents $ 94,115 Accounts receivable, net 29,778 Other current assets 14,182 Total current assets 138,075 Property, plant and equipments, net 612,812 Goodwill, net 85,488 Indefinite-lived intangible assets, net 496,321 Amortized intangible assets, net 510 Deferred charges and other assets 22,541 Total Assets $ 1,355,747 Accounts payable and accrued liabilities $ 70,920 Income taxes payable 2,962 Deferred revenue 21,883 Short-term borrowings 2,500 Total current liabilities 98,265 Accrued compensation and related benefits 24,227 Other liabilities 57 Deferred income taxes 279,245 Long-term debt 547,500 Total Liabilities $ 949,294 Net assets divested in the Spin-Off $ 406,453
Discontinued Operations Cash Flows	Cash flows from Cable ONE are as follows: Three Months Ended Nine Months Ended September 30 September 30 (in thousands) 2015 2014 2015 2014 Net Cash (Used in) Provided by Operating Activities $ (4,468 ) $ 59,863 $ 111,665 $ 187,153 Net Cash Provided by (Used in) Investing Activities — 51,283 (74,416 ) (35,705 )

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Investments [Abstract]
Investments in Marketable Equity Securities	Investments in marketable equity securities comprised the following: As of September 30, December 31, (in thousands) Total cost $ 242,505 $ 106,909 Gross unrealized gains 74,263 86,884 Gross unrealized losses (3,876 ) — Total Fair Value $ 312,892 $ 193,793

Acquisitions, Dispositions, E24

Acquisitions, Dispositions, Exchanges and Other (Tables)	9 Months Ended
	Sep. 30, 2015
Acqusitions and Dispositions [Abstract]
Information related to Disposal Group Held for Sale	The revenue and operating losses related to schools that are being sold as part of the ECA transaction are as follows: Three Months Ended Nine Months Ended September 30 September 30 (in thousands) 2015 2014 2015 2014 Revenue $ 43,121 $ 66,314 $ 167,244 $ 202,577 Operating loss 629 (2,474 ) (6,672 ) (9,981 )

Goodwill and Other Intangible25

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill, by segment, were as follows: (in thousands) Education Cable Television Broadcasting Other Businesses Total Balance as of December 31, 2014 Goodwill $ 1,057,226 $ 85,488 $ 168,345 $ 145,992 $ 1,457,051 Accumulated impairment losses (102,259 ) — — (6,082 ) (108,341 ) 954,967 85,488 168,345 139,910 1,348,710 Measurement period adjustment — — — 4,570 4,570 Impairment (248,591 ) — — — (248,591 ) Dispositions (33,502 ) (85,488 ) — (7,819 ) (126,809 ) Foreign currency exchange rate changes (30,524 ) — — — (30,524 ) Balance as of September 30, 2015 Goodwill 993,200 — 168,345 142,743 1,304,288 Accumulated impairment losses (350,850 ) — — (6,082 ) (356,932 ) $ 642,350 $ — $ 168,345 $ 136,661 $ 947,356
Other Intangible Assets	Other intangible assets consist of the following: As of September 30, 2015 As of December 31, 2014 (in thousands) Useful Life Range Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Accumulated Net Amortized Intangible Assets Noncompete agreements 2–5 years $ 1,681 $ 1,232 $ 449 $ 2,500 $ 1,590 $ 910 Student and customer relationships 2–10 years 86,839 37,528 49,311 104,685 47,539 57,146 Databases and technology 3–5 years 10,518 9,367 1,151 10,501 8,827 1,674 Trade names and trademarks 2–10 years 53,140 22,709 30,431 55,452 19,724 35,728 Other 1–6 years (1) 2,184 1,712 472 8,969 7,480 1,489 $ 154,362 $ 72,548 $ 81,814 $ 182,107 $ 85,160 $ 96,947 Indefinite-Lived Intangible Assets Franchise agreements $ — $ 496,321 Licensure and accreditation 994 6,781 Other 13,651 13,651 $ 14,645 $ 516,753 ___________ _ (1) The Company’s other amortized intangible assets maximum useful life was 25 years as of December 31, 2014.
Education [Member]
Changes in Carrying Amount of Goodwill	The changes in carrying amount of goodwill at the Company’s education division were as follows: (in thousands) Higher Education Test Preparation Kaplan International Total Balance as of December 31, 2014 Goodwill $ 409,884 $ 166,098 $ 481,244 $ 1,057,226 Accumulated impairment losses — (102,259 ) — (102,259 ) 409,884 63,839 481,244 954,967 Impairment (248,591 ) — — (248,591 ) Dispositions (28,738 ) — (4,764 ) (33,502 ) Foreign currency exchange rate changes (280 ) — (30,244 ) (30,524 ) Balance as of September 30, 2015 Goodwill 380,866 166,098 446,236 993,200 Accumulated impairment losses (248,591 ) (102,259 ) — (350,850 ) $ 132,275 $ 63,839 $ 446,236 $ 642,350

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Components of Debt	The Company’s borrowings consist of the following: As of September 30, December 31, (in thousands) 7.25% unsecured notes due February 1, 2019 $ 398,619 $ 398,308 AUD Revolving credit borrowing — 40,927 Other indebtedness 4,203 6,685 Total Debt 402,822 445,920 Less: current portion (3,000 ) (46,375 ) Total Long-Term Debt $ 399,822 $ 399,545

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows: As of September 30, 2015 (in thousands) Level 1 Level 2 Total Assets Money market investments (1) $ — $ 554,913 $ 554,913 Commercial paper (2) 249,827 — 249,827 Marketable equity securities (3) 312,892 — 312,892 Other current investments (4) 16,031 14,153 30,184 Total Financial Assets $ 578,750 $ 569,066 $ 1,147,816 Liabilities Deferred compensation plan liabilities (5) $ — $ 48,765 $ 48,765 ___________ _ (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. As of December 31, 2014 (in thousands) Level 1 Level 2 Total Assets Money market investments (1) $ — $ 368,131 $ 368,131 Commercial paper (2) 226,197 — 226,197 Marketable equity securities (3) 193,793 — 193,793 Other current investments (4) 11,788 21,171 32,959 Total Financial Assets $ 431,778 $ 389,302 $ 821,080 Liabilities Deferred compensation plan liabilities (5) $ — $ 70,661 $ 70,661 Interest rate swap (6) — 179 179 Total Financial Liabilities $ — $ 70,840 $ 70,840 ____________ (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.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Summary of Earnings Per Share from Continuing Operations, Basic and Diluted	The following reflects the Company's income from continuing operations and share data used in the basic and diluted (loss) earnings per share computations using the two-class method: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Numerator for basic (loss) earnings per share: (Loss) income from continuing operations attributable to Graham Holdings Company common stockholders $ (231,222 ) $ 10,142 $ (194,625 ) $ 459,378 Less: Dividends-common stock outstanding and unvested restricted shares (6,736 ) (14,773 ) (53,090 ) (67,267 ) Undistributed (loss) earnings (237,958 ) (4,631 ) (247,715 ) 392,111 Percent allocated to common stockholders (1) 100.00 % 100.00 % 100.00 % 97.89 % (237,958 ) (4,631 ) (247,715 ) 383,842 Add: Dividends-common stock outstanding 6,621 14,462 52,180 66,021 Numerator for basic (loss) earnings per share $ (231,337 ) $ 9,831 $ (195,535 ) $ 449,863 Add: Additional undistributed earnings due to dilutive stock options — — — 36 Numerator for diluted (loss) earnings per share $ (231,337 ) $ 9,831 $ (195,535 ) $ 449,899 Denominator: Denominator for basic (loss) earnings per share: Weighted average shares outstanding 5,738 5,671 5,721 6,737 Add: Effect of dilutive stock options — 25 — 25 Denominator for diluted (loss) earnings per share 5,738 5,696 5,721 6,762 Graham Holdings Company Common Stockholders: Basic (loss) earnings per share from continuing operations $ (40.32 ) $ 1.73 $ (34.18 ) $ 66.77 Diluted (loss) earnings per share from continuing operations $ (40.32 ) $ 1.73 $ (34.18 ) $ 66.52 ____________ (1) Percent of undistributed losses allocated to common stockholders is 100% in the third quarter of 2015 and 2014 and first nine months of 2015 as participating securities are not contractually obligated to share in losses.
Antidilutive Weighted Average Restricted Stock	Diluted (loss) earnings per share excludes the following weighted average potential common shares, as the effect would be antidilutive, as computed under the treasury stock method: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Weighted average restricted stock 50 61 53 61 Weighted average stock options 49 — 37 —

Pension and Postretirement Pl29

Pension and Postretirement Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Defined Benefit Pension Plan [Member]
Schedule of Net Benefit Costs	Defined Benefit Plans. The total benefit arising from the Company’s defined benefit pension plans, including a portion included in discontinued operations, consists of the following components: Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2015 2014 2015 2014 Service cost $ 6,090 $ 6,976 $ 20,593 $ 21,489 Interest cost 13,516 12,894 39,077 38,870 Expected return on assets (33,673 ) (29,877 ) (96,771 ) (90,644 ) Amortization of prior service cost 79 83 241 247 Recognized actuarial gain (6,057 ) (7,280 ) (6,057 ) (21,599 ) Net Periodic Benefit (20,045 ) (17,204 ) (42,917 ) (51,637 ) Curtailment gains (3,267 ) — (3,267 ) — Early retirement programs and special separation benefit expense 3,734 3,884 3,734 8,374 Total Benefit $ (19,578 ) $ (13,320 ) $ (42,450 ) $ (43,263 )
Schedule of Allocation of Plan Assets	The assets of the Company’s pension plan were allocated as follows: As of September 30, December 31, U.S. equities 54 % 59 % U.S. fixed income 13 % 13 % International equities 33 % 28 % 100 % 100 %
Supplemental Executive Retirement Plan (SERP) [Member]
Schedule of Net Benefit Costs	The total cost arising from the Company’s Supplemental Executive Retirement Plan (SERP), including a portion included in discontinued operations, consists of the following components: Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2015 2014 2015 2014 Service cost $ 464 $ 373 $ 1,482 $ 1,119 Interest cost 1,140 1,086 3,410 3,257 Amortization of prior service cost 115 12 343 35 Recognized actuarial loss 630 374 2,385 1,124 Net Periodic Cost 2,349 1,845 7,620 5,535 Special separation benefit expense — 2,422 — 2,422 Total Cost $ 2,349 $ 4,267 $ 7,620 $ 7,957
Other Postretirement Benefit Plan, Defined Benefit [Member]
Schedule of Net Benefit Costs	Other Postretirement Plans. The total cost arising from the Company’s other postretirement plans consists of the following components: Three Months Ended September 30 Nine Months Ended September 30 (in thousands) 2015 2014 2015 2014 Service cost $ 333 $ 375 $ 999 $ 1,125 Interest cost 325 362 974 1,086 Amortization of prior service credit (126 ) (196 ) (377 ) (587 ) Recognized actuarial gain (249 ) (519 ) (747 ) (1,557 ) Net Periodic Cost $ 283 $ 22 $ 849 $ 67

Other Non-Operating (Expense)30

Other Non-Operating (Expense) Income (Tables)	9 Months Ended
	Sep. 30, 2015
Other Nonoperating Income (Expense) [Abstract]
Summary of Other Non-Operating (Expense) Income	A summary of non-operating (expense) income is as follows: Three Months Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Net losses on sales of businesses $ (26,253 ) $ — $ (23,335 ) $ — Foreign currency loss, net (12,972 ) (10,564 ) (16,191 ) (2,618 ) Gain on formation of joint venture — — 5,972 — Additional gain on sale of Classified Ventures — — 4,827 — Gain on Berkshire marketable equity securities exchange — — — 266,733 Gain on sale of headquarters building — — — 127,670 Losses on sales or write-down of marketable equity securities — — — (3,044 ) Other, net (1,233 ) (159 ) (1,158 ) 1,923 Total Other Non-Operating (Expense) Income $ (40,458 ) $ (10,723 ) $ (29,885 ) $ 390,664

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of Other Comprehensive (Loss) Income	The other comprehensive loss consists of the following components: Three Months Ended September 30 2015 2014 Before-Tax Income After-Tax Before-Tax Income After-Tax (in thousands) Amount Tax Amount Amount Tax Amount Foreign currency translation adjustments: Translation adjustments arising during the period $ (10,548 ) $ — $ (10,548 ) $ (9,777 ) $ — $ (9,777 ) Adjustment for sales of businesses with foreign operations 6,026 — 6,026 — — — (4,522 ) — (4,522 ) (9,777 ) — (9,777 ) Unrealized gains on available-for-sale securities: Unrealized gains for the period, net 3,836 (1,535 ) 2,301 9,734 (3,894 ) 5,840 Pension and other postretirement plans: Amortization of net prior service cost (credit) included in net income 68 (27 ) 41 (101 ) 41 (60 ) Amortization of net actuarial gain included in net income (5,676 ) 2,271 (3,405 ) (7,425 ) 2,970 (4,455 ) Curtailment gains included in net income 51 (21 ) 30 — — — Curtailment and settlement included in distribution to Cable ONE 1,403 (561 ) 842 — — — (4,154 ) 1,662 (2,492 ) (7,526 ) 3,011 (4,515 ) Cash flow hedge: Gain for the period — — — 230 (92 ) 138 Other Comprehensive Loss $ (4,840 ) $ 127 $ (4,713 ) $ (7,339 ) $ (975 ) $ (8,314 ) Nine Months Ended September 30 2015 2014 Before-Tax Income After-Tax Before-Tax Income After-Tax (in thousands) Amount Tax Amount Amount Tax Amount Foreign currency translation adjustments: Translation adjustments arising during the period $ (17,387 ) $ — $ (17,387 ) $ (7,111 ) $ — $ (7,111 ) Adjustment for sales of businesses with foreign operations 5,501 — 5,501 — — — (11,886 ) — (11,886 ) (7,111 ) — (7,111 ) Unrealized (losses) gains on available-for-sale securities: Unrealized (losses) gains for the period, net (16,497 ) 6,599 (9,898 ) 46,139 (18,456 ) 27,683 Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income — — — (265,274 ) 106,110 (159,164 ) (16,497 ) 6,599 (9,898 ) (219,135 ) 87,654 (131,481 ) Pension and other postretirement plans: Amortization of net prior service cost (credit) included in net income 207 (82 ) 125 (305 ) 122 (183 ) Amortization of net actuarial gain included in net income (4,419 ) 1,768 (2,651 ) (22,032 ) 8,813 (13,219 ) Curtailment gains included in net income 51 (21 ) 30 — — — Curtailment and settlement included in distribution to Cable ONE 1,403 (561 ) 842 — — — (2,758 ) 1,104 (1,654 ) (22,337 ) 8,935 (13,402 ) Cash flow hedge: Gain for the period 179 (71 ) 108 641 (256 ) 385 Other Comprehensive Loss $ (30,962 ) $ 7,632 $ (23,330 ) $ (247,942 ) $ 96,333 $ (151,609 )
Summary of Changes in Accumulated Other Comprehensive (Loss) Income	The accumulated balances related to each component of other comprehensive (loss) income are as follows: (in thousands, net of taxes) Cumulative Foreign Currency Translation Adjustment Unrealized Gain on Available-for- Sale Securities Unrealized Gain on Pensions and Other Postretirement Plans Cash Flow Hedge Accumulated Other Comprehensive Income Balance as of December 31, 2014 $ 8,548 $ 52,130 $ 392,910 $ (108 ) $ 453,480 Other comprehensive (loss) income before reclassifications (17,387 ) (9,898 ) 842 29 (26,414 ) Net amount reclassified from accumulated other comprehensive income 5,501 — (2,496 ) 79 3,084 Other comprehensive (loss) income, net of tax (11,886 ) (9,898 ) (1,654 ) 108 (23,330 ) Balance as of September 30, 2015 $ (3,338 ) $ 42,232 $ 391,256 $ — $ 430,150
Summary of Amounts and Line Items of reclassifications Out of Accumulated Other Comprehensive (Loss) Income	The amounts and line items of reclassifications out of Accumulated Other Comprehensive (Loss) Income are as follows: Three Months Ended Nine Months Ended Affected Line Item in the Condensed Consolidated Statement of Operations (in thousands) 2015 2014 2015 2014 Foreign Currency Translation Adjustments: Adjustment for sales of businesses with foreign operations $ 6,026 $ — $ 5,501 $ — Other (expense) income, net Unrealized Gains on Available-for-sale Securities: Realized gain for the period — — — (265,274 ) Other (expense) income, net — — — 106,110 (1) — — — (159,164 ) Net of Tax Pension and Other Postretirement Plans: Amortization of net prior service cost (credit) 68 (101 ) 207 (305 ) (2) Amortization of net actuarial gain (5,676 ) (7,425 ) (4,419 ) (22,032 ) (2) Curtailment gains 51 — 51 — (2) (5,557 ) (7,526 ) (4,161 ) (22,337 ) Before tax 2,223 3,011 1,665 8,935 (Benefit) Provision for Income Taxes (3,334 ) (4,515 ) (2,496 ) (13,402 ) Net of Tax Cash Flow Hedge — 217 132 645 Interest expense — (87 ) (53 ) (258 ) (Benefit) Provision for Income Taxes — 130 79 387 Net of Tax Total reclassification for the period $ 2,692 $ (4,385 ) $ 3,084 $ (172,179 ) Net of Tax ____________ (1) Benefits of $1.2 million were recorded in Provision for Income Taxes related to the realized loss for the nine months ended September 30, 2014. The remaining $107.3 million for the nine months ended September 30, 2014, relates to the reversal of income taxes previously recorded on the unrealized gain of the Company’s investment in Berkshire Hathaway Inc. marketable equity securities as part of the Berkshire exchange transaction (see Note 4). (2) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 9).

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting Information [Line Items]
Summary of Segment Reporting Information, by Operating Segment	The following table summarizes the 2015 quarterly financial information related to each of the Company’s business segments: March 31, June 30, September 30, (in thousands) 2015 2015 2015 Operating Revenues Education $ 500,602 $ 523,625 $ 481,746 Television broadcasting 83,564 90,753 89,693 Other businesses 63,259 66,512 70,052 Corporate office — — — Intersegment elimination — — (59 ) $ 647,425 $ 680,890 $ 641,432 Income (Loss) From Operations Education $ (22,849 ) $ 15,848 $ (242,777 ) Television broadcasting 38,562 42,014 40,526 Other businesses (5,162 ) (2,161 ) (3,059 ) Corporate office (1,689 ) 524 (8,413 ) $ 8,862 $ 56,225 $ (213,723 ) Equity in (Losses) Earnings of Affiliates, Net (404 ) (353 ) 95 Interest Expense, Net (7,942 ) (8,025 ) (7,349 ) Other (Expense) Income, Net (1,105 ) 11,678 (40,458 ) (Loss) Income from Continuing Operations Before Income Taxes $ (589 ) $ 59,525 $ (261,435 ) Depreciation of Property, Plant and Equipment Education $ 18,528 $ 21,980 $ 10,637 Television broadcasting 2,109 2,125 2,237 Other businesses 1,302 1,254 1,335 Corporate office 258 250 251 $ 22,197 $ 25,609 $ 14,460 Amortization of Intangible Assets and Impairment of Goodwill and Other Long-lived Assets Education $ 1,507 $ 8,343 $ 249,930 Television broadcasting 63 63 63 Other businesses 3,168 3,117 3,110 Corporate office — — — $ 4,738 $ 11,523 $ 253,103 Net Pension (Credit) Expense Education $ 3,947 $ 3,947 $ 7,525 Television broadcasting 391 391 425 Other businesses 193 186 328 Corporate office (16,938 ) (16,939 ) (24,533 ) $ (12,407 ) $ (12,415 ) $ (16,255 ) The following table summarizes the 2014 quarterly financial information related to each of the Company’s business segments: March 31, June 30, September 30, December 31, (in thousands) 2014 2014 2014 2014 Operating Revenues Education $ 522,154 $ 542,964 $ 543,918 $ 551,381 Television broadcasting 85,651 88,297 87,442 102,446 Other businesses 24,913 42,351 71,845 73,798 Corporate office — — — — Intersegment elimination (98 ) (30 ) — — $ 632,620 $ 673,582 $ 703,205 $ 727,625 Income (Loss) from Operations Education $ 1,862 $ 17,637 $ 12,551 $ 33,413 Television broadcasting 44,386 44,088 44,979 54,380 Other businesses (10,747 ) (6,995 ) (9,292 ) 5,948 Corporate office 2,206 50 (7,029 ) 5,283 $ 37,707 $ 54,780 $ 41,209 $ 99,024 Equity in Earnings of Affiliates, Net 4,052 91,503 4,613 202 Interest Expense, Net (8,189 ) (7,884 ) (8,769 ) (8,555 ) Other Expense, Net 133,273 268,114 (10,723 ) 387,346 Income from Continuing Operations Before Income Taxes $ 166,843 $ 406,513 $ 26,330 $ 478,017 Depreciation of Property, Plant and Equipment Education $ 16,416 $ 15,372 $ 15,237 $ 14,713 Television broadcasting 1,994 2,039 2,148 2,228 Other businesses 520 780 1,201 1,430 Corporate office 500 10 78 247 $ 19,430 $ 18,201 $ 18,664 $ 18,618 Amortization of Intangible Assets and Impairment of Intangibles and Other Long-lived Assets Education $ 1,924 $ 1,798 $ 1,927 $ 19,292 Television broadcasting — — — 32 Other businesses 758 1,138 5,427 3,193 Corporate office — — — — $ 2,682 $ 2,936 $ 7,354 $ 22,517 Net Pension (Credit) Expense Education $ 4,143 $ 3,566 $ 3,854 $ 3,855 Television broadcasting 320 358 338 338 Other businesses 164 202 191 191 Corporate office (17,679 ) (22,933 ) (18,620 ) (23,070 ) $ (13,052 ) $ (18,807 ) $ (14,237 ) $ (18,686 ) The following table summarizes financial information related to each of the Company's business segments: Nine Months Ended September 30 Year Ended December 31 (in thousands) 2015 2014 2014 2013 Operating Revenues Education $ 1,505,973 $ 1,609,036 $ 2,160,417 $ 2,163,734 Television broadcasting 264,010 261,390 363,836 308,306 Other businesses 199,823 139,109 212,907 128,803 Corporate office — — — — Intersegment elimination (59 ) (128 ) (128 ) (241 ) $ 1,969,747 $ 2,009,407 $ 2,737,032 $ 2,600,602 (Loss) Income from Operations Education $ (249,778 ) $ 32,050 $ 65,463 $ 50,989 Television broadcasting 121,102 133,452 187,833 145,192 Other businesses (10,382 ) (27,034 ) (21,086 ) (23,468 ) Corporate office (9,578 ) (4,773 ) 510 (23,279 ) $ (148,636 ) $ 133,695 $ 232,720 $ 149,434 Equity in (Losses) Earnings of Affiliates, Net (662 ) 100,168 100,370 13,215 Interest Expense, Net (23,316 ) (24,841 ) (33,397 ) (33,667 ) Other (Expense) Income, Net (29,885 ) 390,664 778,010 (23,751 ) (Loss) Income from Continuing Operations Before Income Taxes $ (202,499 ) $ 599,686 $ 1,077,703 $ 105,231 Depreciation of Property, Plant and Equipment Education $ 51,145 $ 47,024 $ 61,737 $ 89,622 Television broadcasting 6,471 6,181 8,409 8,746 Other businesses 3,891 2,501 3,931 2,177 Corporate office 759 589 836 626 $ 62,266 $ 56,295 $ 74,913 $ 101,171 Amortization of Intangible Assets and Impairment of Goodwill and Other Long-lived Assets Education $ 259,780 $ 5,649 $ 24,941 $ 11,753 Television broadcasting 189 — 32 — Other businesses 9,395 7,323 10,516 3,416 Corporate office — — — — $ 269,364 $ 12,972 $ 35,489 $ 15,169 Net Pension (Credit) Expense Education $ 15,419 $ 11,563 $ 15,418 $ 16,538 Television broadcasting 1,207 1,016 1,355 3,961 Other businesses 707 557 748 610 Corporate office (58,410 ) (59,231 ) (82,301 ) (41,836 ) $ (41,077 ) $ (46,095 ) $ (64,780 ) $ (20,727 ) Asset information for the Company’s business segments are as follows: As of (in thousands) September 30, December 31, Identifiable Assets Education $ 1,249,359 $ 1,781,543 Television broadcasting 309,232 305,426 Other businesses 472,272 518,807 Corporate office 938,195 1,778,391 $ 2,969,058 $ 4,384,167 Investments in Marketable Equity Securities 312,892 193,793 Investments in Affiliates 53,198 19,811 Prepaid Pension Cost 1,189,181 1,152,488 Assets Held for Sale — 2,060 Total Assets $ 4,524,329 $ 5,752,319
Education [Member]
Segment Reporting Information [Line Items]
Summary of Segment Reporting Information, by Operating Segment	The Company’s education division comprises the following operating segments: Three Months Ended Nine Months Ended September 30 September 30 (in thousands) 2015 2014 2015 2014 Operating Revenues Higher education $ 203,529 $ 249,882 $ 681,814 $ 755,597 Test preparation 83,706 85,108 233,313 234,010 Kaplan international 192,702 207,615 585,486 615,507 Kaplan corporate and other 1,905 1,492 5,723 4,891 Intersegment elimination (96 ) (179 ) (363 ) (969 ) $ 481,746 $ 543,918 $ 1,505,973 $ 1,609,036 Income (Loss) from Operations Higher education $ 3,153 $ 5,391 $ 28,510 $ 39,487 Test preparation 13,620 6,980 16,365 (3,552 ) Kaplan international 8,295 13,853 33,585 40,609 Kaplan corporate and other (267,882 ) (13,651 ) (328,333 ) (44,608 ) Intersegment elimination 37 (22 ) 95 114 $ (242,777 ) $ 12,551 $ (249,778 ) $ 32,050 Depreciation of Property, Plant and Equipment Higher education $ 4,066 $ 7,320 $ 13,688 $ 22,140 Test preparation 2,052 2,865 7,205 9,721 Kaplan international 4,277 4,951 14,004 14,546 Kaplan corporate and other 242 101 16,248 617 $ 10,637 $ 15,237 $ 51,145 $ 47,024 Amortization of Intangible Assets $ 1,339 $ 1,927 $ 4,313 $ 5,649 Impairment of Goodwill and Other Long-lived Assets $ 248,591 $ — $ 255,467 $ — Pension Expense Higher education $ 3,964 $ 2,628 $ 9,028 $ 7,885 Test preparation 775 722 2,325 2,166 Kaplan international 114 89 326 267 Kaplan corporate and other 2,672 415 3,740 1,245 $ 7,525 $ 3,854 $ 15,419 $ 11,563 In the third quarter of 2015, a favorable $3.0 million out of period revenue adjustment was included at the test preparation segment that related to prior periods from 2011 through the second quarter of 2015. With respect to this error, the Company has concluded that it was not material to the Company's financial position or results of operations for 2015 and prior years and the related interim periods, based on its consideration of quantitative and qualitative factors. Identifiable assets for the Company’s education division consist of the following: As of (in thousands) September 30, December 31, Identifiable assets Higher education $ 227,406 $ 749,421 Test preparation 147,998 167,055 Kaplan international 811,672 838,148 Kaplan corporate and other 62,283 26,919 $ 1,249,359 $ 1,781,543

Organization, Basis of Presen33

Organization, Basis of Presentation and Recent Accounting Pronouncements (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)TelevisionStation	Sep. 30, 2014USD ($)	Sep. 03, 2015campus
Percentage of ownership indicating control for consolidation purposes	more than 50%
Net Cash Used in Investing Activities	$ (274,927)	$ (94,258)
Net Cash Provided by Operating Activities	$ 116,107	346,870
Television Broadcasting [Member]
Number of television broadcast stations | TelevisionStation	5
Revision Adjustment [Member]
Net Cash Used in Investing Activities		(9,993)
Net Cash Provided by Operating Activities		$ 9,993
KHE Campuses [Member] | Higher Education [Member]
Number of nationally accredited ground campuses sold | campus			38

Organization, Basis of Presen34

Organization, Basis of Presentation and Recent Accounting Pronouncements (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in Accounts Payable and Accrued Liabilities	$ 74,112	$ (46,673)
Net Cash Provided by Operating Activities	116,107	346,870
Purchases of Property, Plant and Equipment	(120,018)	(172,434)
Net Cash Used in Investing Activities	$ (274,927)	(94,258)
Scenario, Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in Accounts Payable and Accrued Liabilities		(56,666)
Net Cash Provided by Operating Activities		336,877
Purchases of Property, Plant and Equipment		(162,441)
Net Cash Used in Investing Activities		(84,265)
Revision Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Increase (decrease) in Accounts Payable and Accrued Liabilities		9,993
Net Cash Provided by Operating Activities		9,993
Purchases of Property, Plant and Equipment		(9,993)
Net Cash Used in Investing Activities		$ (9,993)

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details)

Jul. 01, 2015USD ($)

Jun. 30, 2015USD ($)

Jan. 31, 2015USD ($)school

Sep. 30, 2015USD ($)

Jun. 30, 2015USD ($)employeeshares

Sep. 30, 2014USD ($)school

Jun. 30, 2014USD ($)

Mar. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Sep. 30, 2015USD ($)

Sep. 30, 2014USD ($)

Dec. 31, 2014USD ($)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net assets divested

$ 406,453,000

Net assets divested, net of cash

312,300,000

Pre-tax gain (loss) on sale and/or disposition

$ 0

$ 4,352,000

$ 732,000

$ (349,875,000)

Sale of Publishing Subsidiaries [Member] | Revision Adjustment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

After-tax gain (loss) on sale and/or disposition

$ (3,000,000)

Sale of Publishing Subsidiaries [Member] | Scenario, Previously Reported [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

After-tax gain (loss) on sale and/or disposition

$ 100,000,000

Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

GHC dividend received from Cable ONE

$ 450,000,000

Cable ONE, unsecured notes

450,000,000

$ 450,000,000

Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Spin-off Costs

7,400,000

$ 3,500,000

Berkshire Exchange Transaction [Member] | WPLG [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

After-tax gain (loss) on sale and/or disposition

$ 375,000,000

Restricted Stock [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of shares modified | shares

10,830

Number of shares with accelerated vesting | shares

6,324

Number of shares forfeited | shares

4,506

Employee Stock Option [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Incremental stock compensation from modification

23,500,000

Cable [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cable ONE, unsecured notes

$ 550,000,000

$ 550,000,000

Cable [Member] | Restricted Stock [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of employees effected by modification | employee

21

Incremental stock compensation from modification

$ 3,700,000

Kaplan International [Member] | Kaplan China [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of schools sold | school

1

3

Pre-tax gain (loss) on sale and/or disposition

$ (700,000)

$ (4,400,000)

July 2015 through December 2018 [Member] | Restricted Stock [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Incremental stock compensation from modification

$ 3,000,000

July 2015 through December 2018 [Member] | Employee Stock Option [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Incremental stock compensation from modification

4,700,000

Q3 2015 [Member] | Corporate Office [Member] | Employee Stock Option [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Incremental stock compensation from modification

18,800,000

Defined Benefit Pension Plan [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Curtailment gain

3,267,000

$ 0

3,267,000

$ 0

Discontinued Operations [Member] | Defined Benefit Pension Plan [Member] | Cable Spin-Off [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Curtailment gain

$ 2,200,000

$ 2,200,000

Discontinued Operations (Carryi

Discontinued Operations (Carrying Amounts of Assets and Liabilities Included in Discontinued Operations) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Jul. 01, 2015	Dec. 31, 2014
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Cash and cash equivalents		$ 94,115	$ 1,235
Accounts receivable, net		29,778
Other current assets		14,182
Total current assets	$ 0	138,075	1,240
Property, plant and equipment, net		612,812
Goodwill, net		85,488
Indefinite-lived intangible assets, net		496,321
Amortized intangible assets, net		510
Deferred charges and other assets		22,541
Total Assets		1,355,747
Accounts payable and accrued liabilities		70,920
Income taxes payable		2,962
Deferred revenue		21,883
Short-term borrowings		2,500
Total current liabilities	$ 0	98,265	$ 1,034
Accrued compensation and related benefits		24,227
Other liabilities		57
Deferred income taxes		279,245
Long-term debt		547,500
Total Liabilities		949,294
Net assets divested in the Spin-Off		$ 406,453

Discontinued Operations Discont

Discontinued Operations Discontinued Operations (Cash Flows from Discontinued Operations) (Details 1) - Cable Spin-Off [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Cash (Used in) Provided by Operating Activities, Discontinued Operations	$ (4,468)	$ 59,863	$ 111,665	$ 187,153
Net Cash Provided by (Used in) Investing Activities, Discontinued Operations	$ 0	$ 51,283	$ (74,416)	$ (35,705)

Discontinued Operations (Summar

Discontinued Operations (Summarized Income (Loss) from Discontinued Operations, Net Of Tax) (Details 2) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]
Operating revenues	$ 0				$ 196,960			$ 397,404	$ 647,128
Operating costs and expenses	1,662				(157,819)			(325,379)	(511,981)
Operating income	1,662				39,141			72,025	135,147
Non-operating income (expense)	0				75,217			(1,288)	75,153
Income from discontinued operations	1,662				114,358			70,737	210,300
Provision for income taxes	1,283				42,331			27,783	77,271
Net Income from Discontinued Operations	379				72,027			42,954	133,029
(Loss) gain on sales of discontinued operations	0				(4,352)			(732)	349,875
Expense (benefit) from income taxes on sales of discontinued operations	0				1,466			52	(16,304)
Income from Discontinued Operations, Net of Tax	$ 379	$ 18,502	$ 23,289	$ 28,649	$ 66,209	$ 405,237	$ 27,762	$ 42,170	$ 499,208	$ 527,857	$ 172,614

Discontinued Operations (Operat

Discontinued Operations (Operating Results After Reclassifying Certain Operations As Discontinued Operations) (Details 3) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Operating Revenues [Abstract]
Education	$ 481,687	$ 523,625	$ 500,602	$ 551,381	$ 543,918	$ 542,964	$ 522,154	$ 1,505,914	$ 1,609,036	$ 2,160,417	$ 2,163,734
Advertising	68,898	70,137	66,454	91,561	72,951	73,587	70,115	205,489	216,653	308,214	275,024
Other	90,847	87,128	80,369	84,683	86,336	57,031	40,351	258,344	183,718	268,401	161,844
Total Operating Revenues	641,432	680,890	647,425	727,625	703,205	673,582	632,620	1,969,747	2,009,407	2,737,032	2,600,602
Operating Costs and Expenses [Abstract]
Operating	302,029	311,121	309,223	317,687	326,395	321,163	296,507	922,373	944,066	1,261,753	1,210,863
Selling, general and administrative	285,563	276,412	302,405	269,779	309,583	276,502	276,294	864,380	862,379	1,132,157	1,123,965
Depreciation of property, plant and equipment	14,460	25,609	22,197	18,618	18,664	18,201	19,430	62,266	56,295	74,913	101,171
Amortization of intangible assets	4,512	4,647	4,738	5,215	7,354	2,936	2,682	13,897	12,972	18,187	11,919
Impairment of long-lived assets		6,876	0
Impairment of intangible and other long-lived assets				17,302	0	0	0			17,302	3,250
Total Operating Costs and Expenses	855,155	624,665	638,563	628,601	661,996	618,802	594,913	2,118,383	1,875,712	2,504,312	2,451,168
Income from Operations	(213,723)	56,225	8,862	99,024	41,209	54,780	37,707	(148,636)	133,695	232,720	149,434
Equity in earnings (losses) of affiliates, net	95	(353)	(404)	202	4,613	91,503	4,052	(662)	100,168	100,370	13,215
Interest income	481	323	559	367	529	641	599	1,363	1,769	2,136	2,264
Interest expense	(7,830)	(8,348)	(8,501)	(8,922)	(9,298)	(8,525)	(8,788)	(24,679)	(26,610)	(35,533)	(35,931)
Other income (expense), net	(40,458)	11,678	(1,105)	387,346	(10,723)	268,114	133,273	(29,885)	390,664	778,010	(23,751)
Income (loss) from Continuing Operations Before Income Taxes	(261,435)	59,525	(589)	478,017	26,330	406,513	166,843	(202,499)	599,686	1,077,703	105,231
Provision (Benefit) for Income Taxes	(30,500)	19,600	900	172,000	16,100	61,900	62,300	(10,000)	140,300	312,300	40,500
Income (Loss) from Continuing Operations	(230,935)	39,925	(1,489)	306,017	10,230	344,613	104,543	(192,499)	459,386	765,403	64,731
Income (Loss) from Discontinued Operations, Net of Tax	379	18,502	23,289	28,649	66,209	405,237	27,762	42,170	499,208	527,857	172,614
Net Income (Loss)	(230,556)	58,427	21,800	334,666	76,439	749,850	132,305	(150,329)	958,594	1,293,260	237,345
Net (Income) Loss Attributable to Noncontrolling Interests	(287)	(434)	(774)	(256)	121	499	219	(1,495)	839	583	(480)
Net Income (Loss) Attributable to Graham Holdings Company	(230,843)	57,993	21,026	334,410	76,560	750,349	132,524	(151,824)	959,433	1,293,843	236,865
Redeemable Preferred Stock Dividends	0	(211)	(420)	0	(209)	(212)	(426)	(631)	(847)	(847)	(855)
Net income (loss) attributable to Graham Holdings Company common stockholders	(230,843)	57,782	20,606	334,410	76,351	750,137	132,098	(152,455)	958,586	1,292,996	236,010
Amounts Attributable to Graham Holdings Company Common Stockholders
Income (loss) from continuing operations	(231,222)	39,280	(2,683)	305,761	10,142	344,900	104,336	(194,625)	459,378	765,139	63,396
Income (Loss) from Discontinued Operations, Net of Tax	379	18,502	23,289	28,649	66,209	405,237	27,762	42,170	499,208	527,857	172,614
Net income (loss) attributable to Graham Holdings Company common stockholders	$ (230,843)	$ 57,782	$ 20,606	$ 334,410	$ 76,351	$ 750,137	$ 132,098	$ (152,455)	$ 958,586	$ 1,292,996	$ 236,010
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic income (loss) per common share from continuing operations in dollars per share	$ (40.32)	$ 6.74	$ (0.58)	$ 52.76	$ 1.73	$ 46.35	$ 14.10	$ (34.18)	$ 66.77	$ 115.88	$ 8.62
Basic income (loss) per common share from discontinued operations in dollars per share	0.07	3.18	4.09	4.95	11.45	54.45	3.75	7.99	72.53	79.93	23.48
Basic net income (loss) per common share in dollars per share	(40.25)	9.92	3.51	57.71	13.18	100.80	17.85	(26.19)	139.30	195.81	32.10
Diluted income (loss) per common share from continuing operations in dollars per share	(40.32)	6.71	(0.58)	52.48	1.73	46.20	14.05	(34.18)	66.52	115.40	8.61
Diluted income (loss) per common share from discontinued operations in dollars per share	0.07	3.16	4.06	4.93	11.39	54.28	3.74	7.99	72.27	79.63	23.44
Diluted net income (loss) per common share in dollars per share	$ (40.25)	$ 9.87	$ 3.48	$ 57.41	$ 13.12	$ 100.48	$ 17.79	$ (26.19)	$ 138.79	$ 195.03	$ 32.05

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($)	Jun. 30, 2014	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Apr. 01, 2014
Schedule of Investments [Line Items]
Commercial paper and money market investments		$ 804,700,000			$ 594,300,000				$ 804,700,000		$ 594,300,000
New investments in marketable equity securities									135,600,000	$ 0
Proceeds from sales of marketable equity securities									0	5,800,000
(Loss) gain on sales of marketable equity securities										(2,600,000)
Gain on Berkshire marketable equity securities exchange		0				$ 0			0	266,733,000
Pre-tax gain on equity method investments		$ 95,000	$ (353,000)	$ (404,000)	$ 202,000	$ 4,613,000	$ 91,503,000	$ 4,052,000	$ (662,000)	$ 100,168,000	$ 100,370,000	$ 13,215,000
Corinthian Colleges, Inc. [Member]
Schedule of Investments [Line Items]
Impairment write-down on a marketable equity security								$ 500,000
Berkshire Exchange Transaction [Member] | Berkshire Hathaway Inc [Member]
Schedule of Investments [Line Items]
Gain on Berkshire marketable equity securities exchange	$ 266,700,000
Berkshire Exchange Transaction [Member] | Berkshire Hathaway Inc [Member] | Common Class A [Member]
Schedule of Investments [Line Items]
Number of Shares Exchanged	2,107						2,107
Berkshire Exchange Transaction [Member] | Berkshire Hathaway Inc [Member] | Common Class B [Member]
Schedule of Investments [Line Items]
Number of Shares Exchanged	1,278						1,278
HomeHero [Member]
Schedule of Investments [Line Items]
Percentage of interest acquired			20.00%
Residential Home Health Illinois [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage		40.00%							40.00%
Residential Hospice Illinois [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage		42.50%							42.50%
Celtic Healthcare Allegheny Health Network Joint Venture [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage		40.00%							40.00%
Classified Ventures' sale of apartments.com [Member]
Schedule of Investments [Line Items]
Cash distribution from equity method investment													$ 95,000,000
Pre-tax gain on equity method investments							$ 90,900,000

Investments (Investments in Mar

Investments (Investments in Marketable Equity Securities) (Details 1) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments [Abstract]
Total cost	$ 242,505	$ 106,909
Gross unrealized gains	74,263	86,884
Gross unrealized losses	(3,876)	0
Total Fair Value	$ 312,892	$ 193,793

Acqusitions, Dispositions, Exch

Acqusitions, Dispositions, Exchanges and Other (Acquisitions) (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015business	Sep. 30, 2014USD ($)business	Jul. 03, 2014
Business Acquisition [Line Items]
Acqusition purchase price | $		$ 204.9
Number of businesses acquired	0	7
Other Businesses [Member]
Business Acquisition [Line Items]
Number of businesses acquired		4
Test Preparation [Member]
Business Acquisition [Line Items]
Number of businesses acquired		2
Higher Education [Member]
Business Acquisition [Line Items]
Number of businesses acquired		1
Residential Healthcare Group Inc [Member]
Business Acquisition [Line Items]
Percentage of interest acquired			80.00%
Residential Hospice Illinois [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage	42.50%
Residential Home Health Illinois [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage	40.00%
Residential Healthcare Group Inc [Member] | Residential Hospice Illinois [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage			42.50%
Residential Healthcare Group Inc [Member] | Residential Home Health Illinois [Member]
Business Acquisition [Line Items]
Equity Method Investment, Ownership Percentage			40.00%

Acquisitions, Dispositions, E43

Acquisitions, Dispositions, Exchanges and Other (Dispositions) (Narrative) (Details) $ in Thousands	Sep. 03, 2015USD ($)campus	Jan. 31, 2015school	Jun. 30, 2015USD ($)business	Mar. 31, 2015USD ($)	Sep. 30, 2014school
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets			$ 6,876	$ 0
Education [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets			$ 6,900
Number of businesses disposed | business			2
Education [Member] | Sale of KHE Campuses business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Maximum letter of credit or other credit support	$ 45,000
Term for letter of credit	2 years
KHE Campuses [Member] | Higher Education [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of nationally accredited ground campuses sold | campus	38
Kaplan China [Member] | Kaplan International [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of schools sold | school		1			3

Acquisitions, Dispositions, E44

Acquisitions, Dispositions, Exchanges and Other (Exchanges and Other) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2015	Jan. 31, 2015	Jun. 30, 2014
Berkshire Exchange Transaction [Member]
Exchange And Other [Line Items]
Amount of Cash Exchanged to Berkshire				$ 327.7
Berkshire Exchange Transaction [Member] | Common Class B [Member]
Exchange And Other [Line Items]
Number of shares received in Berkshire Hathaway agreement				1,620,190
Berkshire Exchange Transaction [Member] | Berkshire Hathaway Inc [Member] | Common Class A [Member]
Exchange And Other [Line Items]
Number of Shares Exchanged				2,107
Berkshire Exchange Transaction [Member] | Berkshire Hathaway Inc [Member] | Common Class B [Member]
Exchange And Other [Line Items]
Number of Shares Exchanged				1,278
Celtic Healthcare Allegheny Health Network Joint Venture [Member]
Exchange And Other [Line Items]
Equity Method Investment, Ownership Percentage		40.00%
Celtic Healthcare Allegheny Health Network Joint Venture [Member] | Celtic Healthcare Inc [Member]
Exchange And Other [Line Items]
Equity Method Investment, Ownership Percentage			40.00%
Percentage of revenue	29.00%

Acquisitions, Dispositions, E45

Acquisitions, Dispositions, Exchanges and Other (Significant Component) (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Acqusitions and Dispositions [Abstract]
Disposal Group, Not Discontinued Operation, Revenue	$ 43,121	$ 66,314	$ 167,244	$ 202,577
Disposal Group, Not Discontinued Operation, Operating Loss	$ 629	$ (2,474)	$ (6,672)	$ (9,981)

Acquisitions, Dispositions, E46

Acquisitions, Dispositions, Exchanges and Other (Assets Held for Sale) (Details 2) - USD ($) $ in Thousands	Sep. 30, 2015	Jul. 01, 2015	Dec. 31, 2014
Acqusitions and Dispositions [Abstract]
Accounts receivable, net		$ 29,778
Other current assets		14,182
Total current assets	$ 0	138,075	$ 1,240
Property, plant and equipment, net		612,812
Goodwill, net		85,488
Indefinite-lived intangible assets		496,321
Amortized intangible assets, net		510
Deferred charges and other assets		22,541
Noncurrent Assets Held for Sale	0		820
Accounts payable and accrued liabilities		70,920
Deferred revenue		21,883
Total current liabilities	$ 0	98,265	$ 1,034
Other liabilities		$ 57

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets (Intangible Assets) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Amortized Intangible Assets [Line Items]
Gain on sale of intangible asset								$ 0	$ 75,249
Amortization of Intangible Assets
Amortization of intangible assets	$ 4,512	$ 4,647	$ 4,738	$ 5,215	$ 7,354	$ 2,936	$ 2,682	13,897	$ 12,972	$ 18,187	$ 11,919
Estimated amortization of intangible assets, remainder of 2015	4,000							4,000
Estimated amortization of intangible assets, 2016	17,000							17,000
Estimated amortization of intangible assets, 2017	14,000							14,000
Estimated amortization of intangible assets, 2018	13,000							13,000
Estimated amortization of intangible assets, 2019	12,000							12,000
Estimated amortization of intangible assets, after 2019	$ 22,000							$ 22,000
Discontinued Operations [Member]
Amortized Intangible Assets [Line Items]
Impairment of intangible assets						7,800
Kaplan International [Member] | Kaplan China [Member] | Discontinued Operations [Member]
Amortized Intangible Assets [Line Items]
Impairment of intangible assets						$ 7,800
Wireless Licenses [Member] | Cable [Member] | Discontinued Operations [Member]
Amortized Intangible Assets [Line Items]
Gain on sale of intangible asset					$ 75,200

Goodwill and Other Intangible48

Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets (Goodwill) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2015
Goodwill [Line Items]
Goodwill impairment	$ (248,591)		$ 248,591
Measurement period adjustment			4,570
Education [Member]
Goodwill [Line Items]
Goodwill impairment			248,591
Measurement period adjustment			0
Higher Education [Member]
Goodwill [Line Items]
Goodwill impairment			248,591
Other Businesses [Member]
Goodwill [Line Items]
Goodwill impairment			0
Measurement period adjustment			$ 4,570
Other Businesses [Member] | Residential Healthcare Group Inc [Member]
Goodwill [Line Items]
Measurement period adjustment		$ 4,600

Goodwill and Other Intangible49

Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill) (Details 1) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Goodwill [Line Items]
Goodwill, beginning balance		$ 1,457,051
Accumulated impairment losses, beginning balance		(108,341)
Goodwill, net, beginning balance		1,348,710
Measurement period adjustment		4,570
Impairment	$ 248,591	(248,591)
Dispositions		(126,809)
Foreign currency exchange rate changes		(30,524)
Goodwill, ending balance	1,304,288	1,304,288
Accumulated impairment losses, ending balance	(356,932)	(356,932)
Goodwill, net, ending balance	947,356	947,356
Education [Member]
Goodwill [Line Items]
Goodwill, beginning balance		1,057,226
Accumulated impairment losses, beginning balance		(102,259)
Goodwill, net, beginning balance		954,967
Measurement period adjustment		0
Impairment		(248,591)
Dispositions		(33,502)
Foreign currency exchange rate changes		(30,524)
Goodwill, ending balance	993,200	993,200
Accumulated impairment losses, ending balance	(350,850)	(350,850)
Goodwill, net, ending balance	642,350	642,350
Higher Education [Member]
Goodwill [Line Items]
Goodwill, beginning balance		409,884
Accumulated impairment losses, beginning balance		0
Goodwill, net, beginning balance		409,884
Impairment		(248,591)
Dispositions		(28,738)
Foreign currency exchange rate changes		(280)
Goodwill, ending balance	380,866	380,866
Accumulated impairment losses, ending balance	(248,591)	(248,591)
Goodwill, net, ending balance	132,275	132,275
Test Preparation [Member]
Goodwill [Line Items]
Goodwill, beginning balance		166,098
Accumulated impairment losses, beginning balance		(102,259)
Goodwill, net, beginning balance		63,839
Impairment		0
Dispositions		0
Foreign currency exchange rate changes		0
Goodwill, ending balance	166,098	166,098
Accumulated impairment losses, ending balance	(102,259)	(102,259)
Goodwill, net, ending balance	63,839	63,839
Kaplan International [Member]
Goodwill [Line Items]
Goodwill, beginning balance		481,244
Accumulated impairment losses, beginning balance		0
Goodwill, net, beginning balance		481,244
Impairment		0
Dispositions		(4,764)
Foreign currency exchange rate changes		(30,244)
Goodwill, ending balance	446,236	446,236
Accumulated impairment losses, ending balance	0	0
Goodwill, net, ending balance	446,236	446,236
Cable [Member]
Goodwill [Line Items]
Goodwill, beginning balance		85,488
Accumulated impairment losses, beginning balance		0
Goodwill, net, beginning balance		85,488
Measurement period adjustment		0
Impairment		0
Dispositions		(85,488)
Foreign currency exchange rate changes		0
Goodwill, ending balance	0	0
Accumulated impairment losses, ending balance	0	0
Goodwill, net, ending balance	0	0
Television Broadcasting [Member]
Goodwill [Line Items]
Goodwill, beginning balance		168,345
Accumulated impairment losses, beginning balance		0
Goodwill, net, beginning balance		168,345
Measurement period adjustment		0
Impairment		0
Dispositions		0
Foreign currency exchange rate changes		0
Goodwill, ending balance	168,345	168,345
Accumulated impairment losses, ending balance	0	0
Goodwill, net, ending balance	168,345	168,345
Other Businesses [Member]
Goodwill [Line Items]
Goodwill, beginning balance		145,992
Accumulated impairment losses, beginning balance		(6,082)
Goodwill, net, beginning balance		139,910
Measurement period adjustment		4,570
Impairment		0
Dispositions		(7,819)
Foreign currency exchange rate changes		0
Goodwill, ending balance	142,743	142,743
Accumulated impairment losses, ending balance	(6,082)	(6,082)
Goodwill, net, ending balance	$ 136,661	$ 136,661

Goodwill and Other Intangible50

Goodwill and Other Intangible Assets (Other Intangible Assets) (Details 2) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Amortized Intangible Assets [Line Items]
Gross Carrying Amount		$ 154,362	$ 182,107
Accumulated Amortization		72,548	85,160
Net Carrying Amount		81,814	96,947
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets, Net		14,645	516,753
Franchise Agreements [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets, Net		0	496,321
Licensure and Accreditation [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets, Net		994	6,781
Other [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets, Net		13,651	13,651
Non-compete Agreements [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount		1,681	2,500
Accumulated Amortization		1,232	1,590
Net Carrying Amount		$ 449	$ 910
Non-compete Agreements [Member] | Minimum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		2 years	2 years
Non-compete Agreements [Member] | Maximum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		5 years	5 years
Student and Customer Relationships [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount		$ 86,839	$ 104,685
Accumulated Amortization		37,528	47,539
Net Carrying Amount		$ 49,311	$ 57,146
Student and Customer Relationships [Member] | Minimum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		2 years	2 years
Student and Customer Relationships [Member] | Maximum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		10 years	10 years
Databases and Technology [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount		$ 10,518	$ 10,501
Accumulated Amortization		9,367	8,827
Net Carrying Amount		$ 1,151	$ 1,674
Databases and Technology [Member] | Minimum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		3 years	3 years
Databases and Technology [Member] | Maximum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		5 years	5 years
Trade Names and Trademarks [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount		$ 53,140	$ 55,452
Accumulated Amortization		22,709	19,724
Net Carrying Amount		$ 30,431	$ 35,728
Trade Names and Trademarks [Member] | Minimum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		2 years	2 years
Trade Names and Trademarks [Member] | Maximum [Member]
Amortized Intangible Assets [Line Items]
Useful Life		10 years	10 years
Other [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount		$ 2,184	$ 8,969
Accumulated Amortization		1,712	7,480
Net Carrying Amount		$ 472	$ 1,489
Other [Member] | Minimum [Member]
Amortized Intangible Assets [Line Items]
Useful Life	[1]	1 year	1 year
Other [Member] | Maximum [Member]
Amortized Intangible Assets [Line Items]
Useful Life	[1]	6 years	25 years
[1]	The Company’s other amortized intangible assets maximum useful life was 25 years as of December 31, 2014.

Debt (Narrative) (Details)

Debt (Narrative) (Details)	Jun. 29, 2015USD ($)	Mar. 09, 2015AUD	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 17, 2015USD ($)	Jun. 17, 2015AUD	Jan. 31, 2009
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			7.25%		7.25%
Average borrowings outstanding			$ 404,200,000	$ 450,900,000	$ 436,300,000	$ 451,400,000
Weighted average interest rate of borrowings			7.20%	7.00%	7.00%	7.00%
Net interest expense incurred			$ 7,300,000	$ 8,800,000	$ 23,300,000	$ 24,800,000
Cable Spin-Off [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 450,000,000
7.25% Unsecured Notes due February 1, 2019 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage											7.25%
Fair value of debt instrument			422,000,000		422,000,000		$ 450,300,000
Carrying value of debt instrument			398,619,000		398,619,000		398,308,000
Four-Year Revolving Credit Agreement Dated, June 17, 2011 [Member]
Debt Instrument [Line Items]
Borrowings outstanding									$ 0
AUD $50 million portion of Revolver [Member]
Debt Instrument [Line Items]
Termination of credit agreement | AUD										AUD 50,000,000
Borrowings outstanding			$ 0		$ 0		$ 40,927,000
Repayments of Line of Credit | AUD		AUD 50,000,000
USD $450 million portion of Revolver [Member]
Debt Instrument [Line Items]
Termination of credit agreement									$ 450,000,000
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Notional amount of derivative that matured | AUD		AUD 50,000,000
Other Indebtedness [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			6.00%		6.00%
Minimum interest rate							0.00%
Maximum interest rate							6.00%
Debt Instrument, Maturity year, start					Oct. 1, 2015		Jan. 1, 2015
Debt Instrument, Maturity year, end					Dec. 31, 2017		Dec. 31, 2017
Five-Year Revolving Credit Agreement dated June 29, 2015 [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	$ 200,000,000
Debt Instrument, Covenant, Leverage Ratio, Maximum	3.5
Debt Instrument, Covenant, Interest Coverage Ratio, Minimum	3.5
Five-Year Revolving Credit Agreement dated June 29, 2015 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Five-Year Revolving Credit Agreement dated June 29, 2015 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Five-Year Revolving Credit Agreement dated June 29, 2015 [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Five-Year Revolving Credit Agreement dated June 29, 2015 [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Cable [Member] | Cable Spin-Off [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount								$ 550,000,000

Debt (Details 1)

Debt (Details 1) - USD ($)	Sep. 30, 2015	Jun. 17, 2015	Dec. 31, 2014	Jan. 31, 2009
Debt Instrument [Line Items]
Other indebtedness	$ 4,203,000		$ 6,685,000
Total Debt	402,822,000		445,920,000
Less: current portion	(3,000,000)		(46,375,000)
Total Long-Term Debt	$ 399,822,000		399,545,000
Debt Instrument, Interest Rate, Stated Percentage	7.25%
7.25% Unsecured Notes due February 1, 2019 [Member]
Debt Instrument [Line Items]
Unsecured notes	$ 398,619,000		398,308,000
Debt Instrument, Interest Rate, Stated Percentage				7.25%
Four Year Revolving Credit Agreement Dated June Seventeenth Two Thousand Eleven [Member]
Debt Instrument [Line Items]
Revolving credit borrowing		$ 0
AUD [Member]
Debt Instrument [Line Items]
Revolving credit borrowing	$ 0		$ 40,927,000

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of goodwill	$ 248,591			$ (248,591)
Impairment of long-lived assets		$ 6,876
Discontinued Operations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of intangible assets			$ 7,800

Fair Value Measurements (Detail

Fair Value Measurements (Details 1) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Assets
Marketable equity securities		$ 312,892	$ 193,793
7.25% Unsecured Notes due February 1, 2019 [Member]
Liabilities
Debt instrument		422,000	450,300
Fair Value, Measurements, Recurring [Member]
Assets
Money market investments	[1]	554,913	368,131
Commercial paper	[2]	249,827	226,197
Marketable equity securities	[3]	312,892	193,793
Other current investments	[4]	30,184	32,959
Total Financial Assets		1,147,816	821,080
Liabilities
Deferred compensation plan liabilities	[5]	48,765	70,661
Interest rate swap	[6]		179
Total Financial Liabilities			70,840
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets
Money market investments	[1]	0	0
Commercial paper	[2]	249,827	226,197
Marketable equity securities	[3]	312,892	193,793
Other current investments	[4]	16,031	11,788
Total Financial Assets		578,750	431,778
Liabilities
Deferred compensation plan liabilities	[5]	0	0
Interest rate swap	[6]		0
Total Financial Liabilities			0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Assets
Money market investments	[1]	554,913	368,131
Commercial paper	[2]	0	0
Marketable equity securities	[3]	0	0
Other current investments	[4]	14,153	21,171
Total Financial Assets		569,066	389,302
Liabilities
Deferred compensation plan liabilities	[5]	$ 48,765	70,661
Interest rate swap	[6]		179
Total Financial Liabilities			$ 70,840
[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.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 01, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized in plan		772,588		772,588		500,000
Number of shares authorized by individual in plan		77,258		77,258		50,000
Dividends declared per common share		$ 1.15	$ 2.55	$ 9.1	$ 10.2
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities, shares		77,258	5,000	77,258	5,000
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities, shares		5,050	6,075	5,050	6,075
Berkshire Exchange Transaction [Member] | Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Received in Exchange							1,620,190
Redemption of Redeemable Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Redeemable preferred shares outstanding	10,510
Redeemable preferred stock par value	$ 1
Redeemable preferred shares liquidation preference	$ 1,000
Redeemable preferred stock redemption amount	$ 10.5

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Schedule of Earnings Per Share, Basic and Diluted, Including Two Class Method [Line Items]
(Loss) income from continuing operations attributable to Graham Holdings Company common stockholders	$ (231,222)	$ 39,280	$ (2,683)	$ 305,761	$ 10,142	$ 344,900	$ 104,336	$ (194,625)	$ 459,378	$ 765,139	$ 63,396
Less: Dividends-common stock outstanding and unvested restricted shares	(6,736)				(14,773)			(53,090)	(67,267)
Undistributed (loss) earnings	$ (237,958)				$ (4,631)			$ (247,715)	$ 392,111
Percent allocated to common stockholders(1)	100.00%				100.00%			100.00%	97.89%
Undistributed Earnings Allocated To Common Stockholders	$ (237,958)				$ (4,631)			$ (247,715)	$ 383,842
Add: Dividends-common stock outstanding	6,621				14,462			52,180	66,021
Numerator for basic (loss) earnings per share	(231,337)				9,831			(195,535)	449,863
Add: Additional undistributed earnings due to dilutive stock options	0				0			0	36
Numerator for diluted (loss) earnings per share	$ (231,337)				$ 9,831			$ (195,535)	$ 449,899
Weighted average shares outstanding (shares)	5,738				5,671			5,721	6,737
Denominator for diluted (loss) earnings per share (shares)	5,738				5,696			5,721	6,762
Graham Holdings Company Common Stockholders:
Basic (loss) income per common share from continuing operations in dollars per share	$ (40.32)	$ 6.74	$ (0.58)	$ 52.76	$ 1.73	$ 46.35	$ 14.10	$ (34.18)	$ 66.77	$ 115.88	$ 8.62
Diluted (loss) income per common share from continuing operations in dollars per share	$ (40.32)	$ 6.71	$ (0.58)	$ 52.48	$ 1.73	$ 46.20	$ 14.05	$ (34.18)	$ 66.52	$ 115.40	$ 8.61
Stock Option Plan [Member]
Schedule of Earnings Per Share, Basic and Diluted, Including Two Class Method [Line Items]
Add: Effect of dilutive stock options (shares)	0				25			0	25

Stockholders' Equity Stockholde

Stockholders' Equity Stockholders' Equity (Details 2) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stockholders' Equity Note [Abstract]
Weighted average restricted stock	50	61	53	61
Weighted average stock options	49	0	37	0

Pension and Postretirement Pl58

Pension and Postretirement Plans (Narrative) (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2015USD ($)countryInvestmentcompanies	Sep. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Sep. 30, 2015USD ($)countryInvestmentcompanies	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)countryInvestment
Retirement Benefits Disclosure [Line Items]
Net Periodic Cost (Benefit)				$ (45,081,000)	$ (51,637,000)
Early retirement program expense				3,734,000	8,374,000
Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Net Periodic Cost (Benefit)	$ (20,045,000)	$ (17,204,000)		(42,917,000)	(51,637,000)
Curtailment gain	3,267,000	0		3,267,000	0
Early retirement program expense	$ 3,734,000	3,884,000		$ 3,734,000	8,374,000
Number of investment companies actively managing plan assets | companies	2			2
Amount of plan assets managed internally by company				$ 0
Percentage of total plan assets	100.00%			100.00%		100.00%
Defined Benefit Pension Plan [Member] | Sale of KHE Campuses business [Member]
Retirement Benefits Disclosure [Line Items]
Curtailment gain	$ 1,100,000			$ 1,100,000
Defined Benefit Pension Plan [Member] | Discontinued Operations [Member]
Retirement Benefits Disclosure [Line Items]
Net Periodic Cost (Benefit)	(100,000)	900,000		1,900,000	2,800,000
Defined Benefit Pension Plan [Member] | Discontinued Operations [Member] | Cable Spin-Off [Member]
Retirement Benefits Disclosure [Line Items]
Curtailment gain	2,200,000			2,200,000
Defined Benefit Pension Plan [Member] | Separation Incentive Program [Member] | Education [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense	3,700,000
Defined Benefit Pension Plan [Member] | Corporate Office [Member] | Voluntary Retirement Incentive Program [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense		3,900,000
Defined Benefit Pension Plan [Member] | Corporate Office [Member] | Separation Incentive Program [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense			$ 4,500,000
Supplemental Executive Retirement Plan (SERP) [Member]
Retirement Benefits Disclosure [Line Items]
Net Periodic Cost (Benefit)	2,349,000	1,845,000		7,620,000	5,535,000
Early retirement program expense	0	2,422,000		0	2,422,000
Supplemental Executive Retirement Plan (SERP) [Member] | Discontinued Operations [Member]
Retirement Benefits Disclosure [Line Items]
Net Periodic Cost (Benefit)		100,000		200,000	400,000
Other Postretirement Plans [Member]
Retirement Benefits Disclosure [Line Items]
Net Periodic Cost (Benefit)	283,000	$ 22,000		$ 849,000	$ 67,000
Berkshire Hathaway Common Stock [Member] | Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator				20.00%
Single Equity Concentration [Member] | Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator				10.00%
Value of investments	$ 580,600,000			$ 580,600,000		$ 730,600,000
Percentage of total plan assets	24.00%			24.00%		30.00%
Number of investments the company's pension plan held which individually exceed 10% of total plan assets | Investment	1			1		2
Foreign Investments [Member] | Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, equity securities				24.00%
Fixed income securities [Member] | Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation percentage of assets, fixed-income securities, range minimum				10.00%
Concentration In Single Entity, Type Of Industry, Foreign Country Or Individual Fund [Member] | Defined Benefit Plan Assets Total [Member] | Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Minimum percentage of plan assets considered as significant concentrations in pension plans				10.00%
Geographic Concentration [Member] | Foreign Investments [Member] | Defined Benefit Pension Plan [Member]
Retirement Benefits Disclosure [Line Items]
Value of investments	$ 582,000,000			$ 582,000,000		$ 468,000,000
Percentage of total plan assets	24.00%			24.00%		19.00%
Number of foreign countries for which the companys pension plan holds investments that exceed 10% of total plan assets | country	1			1		1

Pension and Postretirement Pl59

Pension and Postretirement Plans (Total Benefit/Cost) (Details 1) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Cost (Benefit)								$ (45,081)	$ (51,637)
Early retirement programs and special separation benefit expense								3,734	8,374
Total Cost (Benefit)	$ (16,255)	$ (12,415)	$ (12,407)	$ (18,686)	$ (14,237)	$ (18,807)	$ (13,052)	(41,077)	(46,095)	$ (64,780)	$ (20,727)
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	6,090				6,976			20,593	21,489
Interest cost	13,516				12,894			39,077	38,870
Expected return on assets	(33,673)				(29,877)			(96,771)	(90,644)
Amortization of prior service cost (credit)	79				83			241	247
Recognized actuarial loss (gain)	(6,057)				(7,280)			(6,057)	(21,599)
Net Periodic Cost (Benefit)	(20,045)				(17,204)			(42,917)	(51,637)
Curtailment gain	(3,267)				0			(3,267)	0
Early retirement programs and special separation benefit expense	3,734				3,884			3,734	8,374
Total Cost (Benefit)	(19,578)				(13,320)			(42,450)	(43,263)
Supplemental Executive Retirement Plan (SERP) [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	464				373			1,482	1,119
Interest cost	1,140				1,086			3,410	3,257
Amortization of prior service cost (credit)	115				12			343	35
Recognized actuarial loss (gain)	630				374			2,385	1,124
Net Periodic Cost (Benefit)	2,349				1,845			7,620	5,535
Early retirement programs and special separation benefit expense	0				2,422			0	2,422
Total Cost (Benefit)	2,349				4,267			7,620	7,957
Other Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	333				375			999	1,125
Interest cost	325				362			974	1,086
Amortization of prior service cost (credit)	(126)				(196)			(377)	(587)
Recognized actuarial loss (gain)	(249)				(519)			(747)	(1,557)
Net Periodic Cost (Benefit)	$ 283				$ 22			$ 849	$ 67

Pension and Postretirement Pl60

Pension and Postretirement Plans (Asset Allocation) (Details 2) - Defined Benefit Pension Plans [Member]	Sep. 30, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	100.00%	100.00%
UNITED STATES | U.S. equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	54.00%	59.00%
UNITED STATES | U.S. fixed income [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	13.00%	13.00%
International [Member] | International equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	33.00%	28.00%

Other Non-Operating Income (Nar

Other Non-Operating Income (Narrative) (Details) $ in Thousands	Jun. 30, 2014USD ($)shares	Mar. 27, 2014USD ($)	Jan. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)business	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on sales of businesses				$ (26,253)	$ 2,918	$ 0	$ (23,335)	$ 0
Gain on Celtic joint venture transaction				0		0	5,972	0
Gain on Berkshire marketable equity securities exchange				0		0	0	266,733
Proceeds from sale of building		$ 158,000
Gain on sale of headquarters building		$ 127,700		$ 0		$ 0	$ 0	$ 127,670
Celtic Healthcare Inc [Member] | Celtic Healthcare Allegheny Health Network Joint Venture [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on Celtic joint venture transaction			$ 6,000
Berkshire Hathaway Inc [Member] | Berkshire Exchange Transaction [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on Berkshire marketable equity securities exchange	$ 266,700
Berkshire Hathaway Inc [Member] | Common Class A [Member] | Berkshire Exchange Transaction [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Number of Shares Exchanged | shares	2,107
Berkshire Hathaway Inc [Member] | Common Class B [Member] | Berkshire Exchange Transaction [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Number of Shares Exchanged | shares	1,278
Classified Ventures LLC [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Favorable out of period adjustment					$ 4,800
Education [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Number of businesses disposed | business					2
Celtic Healthcare Allegheny Health Network Joint Venture [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Equity Method Investment, Ownership Percentage				40.00%			40.00%
Celtic Healthcare Allegheny Health Network Joint Venture [Member] | Celtic Healthcare Inc [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Equity Method Investment, Ownership Percentage			40.00%

Other Non-Operating Income (Det

Other Non-Operating Income (Details 1) - USD ($) $ in Thousands	Jun. 30, 2014	Mar. 27, 2014	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on sales of businesses			$ (26,253)	$ 2,918			$ 0			$ (23,335)	$ 0
Foreign currency (loss) gain, net			(12,972)				(10,564)			(16,191)	(2,618)
Gain on formation of joint venture			0				0			5,972	0
Additional gain on sale of Classified Ventures										4,827	0
Gain on Berkshire marketable equity securities exchange			0				0			0	266,733
Gain on sale of headquarters building		$ 127,700	0				0			0	127,670
Losses on sales or write-down of marketable equity securities			0				0			0	(3,044)
Other, net			(1,233)				(159)			(1,158)	1,923
Total Other Non-Operating (Expense) Income			(40,458)	$ 11,678	$ (1,105)	$ 387,346	(10,723)	$ 268,114	$ 133,273	(29,885)	390,664	$ 778,010	$ (23,751)
Classified Ventures LLC [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Additional gain on sale of Classified Ventures			$ 0				$ 0			$ 4,827	$ 0
Berkshire Exchange Transaction [Member] | Berkshire Hathaway Inc [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on Berkshire marketable equity securities exchange	$ 266,700

Accumulated Other Comprehensi63

Accumulated Other Comprehensive Income (Loss) (Components of OCI) (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign currency translation adjustments:
Translation adjustments arising during the period, before tax	$ (10,548)	$ (9,777)	$ (17,387)	$ (7,111)
Translation adjustments arising during the period, income tax	0	0	0	0
Translation adjustments arising during the period, after tax	(10,548)	(9,777)	(17,387)	(7,111)
Adjustment for sales of businesses with foreign operations, before tax	6,026	0	5,501	0
Adjustment for sales of businesses with foreign operations, income tax	0	0	0	0
Adjustment for sales of businesses with foreign operations, after tax	6,026	0	5,501	0
Total foreign currency translation adjustments, before tax	(4,522)	(9,777)	(11,886)	(7,111)
Total foreign currency translation adjustments, income tax	0	0	0	0
Total foreign currency translation adjustments, after tax	(4,522)	(9,777)	(11,886)	(7,111)
Unrealized (losses) gains on available-for-sale securities:
Unrealized (losses) gains for the period, before tax	3,836	9,734	(16,497)	46,139
Unrealized (losses) gains for the period, tax	(1,535)	(3,894)	6,599	(18,456)
Unrealized (losses) gains for the period, after tax	2,301	5,840	(9,898)	27,683
Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income, before tax	0	0	0	(265,274)
Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income, income tax			0	106,110
Reclassification adjustment for realization of (gain) loss on exchange, sale or write-down of available-for-sale securities included in net income, after tax			0	(159,164)
Total unrealized gains (losses) on available-for-sale securities, before tax	3,836	9,734	(16,497)	(219,135)
Total unrealized (losses) gains on available-for-sale securities, income tax			6,599	87,654
Total unrealized (losses) gains on available-for-sale securities, after tax			(9,898)	(131,481)
Pension and other postretirement plans:
Amortization of net prior service cost (credit) included in net income	68	(101)	207	(305)
Amortization of net prior service cost (credit) included in net income, income tax	(27)	41	(82)	122
Amortization of net prior service cost (credit) included in net income, after tax	41	(60)	125	(183)
Amortization of net actuarial gain included in net income, before tax	(5,676)	(7,425)	(4,419)	(22,032)
Amortization of net actuarial gain included in net income, income tax	2,271	2,970	1,768	8,813
Amortization of net actuarial gain included in net income, after tax	(3,405)	(4,455)	(2,651)	(13,219)
Curtailment gains included in net income, before tax	51	0	51	0
Curtailment gains included in net income, income tax	(21)	0	(21)	0
Curtailment gains included in net income, after tax	30	0	30	0
Curtailment and settlement included in distribution to Cable ONE, before tax	1,403	0	1,403	0
Curtailment and settlement included in distribution to Cable ONE, income tax	(561)	0	(561)	0
Curtailment and settlement included in distribution to Cable ONE, after tax	842	0	842	0
Total pension and other postretirement plans, before tax	(4,154)	(7,526)	(2,758)	(22,337)
Total pension and other postretirement plans, income tax	1,662	3,011	1,104	8,935
Total pension and other postretirement plans, after tax	(2,492)	(4,515)	(1,654)	(13,402)
Cash flow hedge:
Gain for the period, before tax	0	230	179	641
Gain for the period, income tax	0	(92)	(71)	(256)
Gain for the period, after tax	0	138	108	385
Other Comprehensive Loss, before tax	(4,840)	(7,339)	(30,962)	(247,942)
Other Comprehensive Loss, income tax	127	(975)	7,632	96,333
Other Comprehensive Loss, after tax	$ (4,713)	$ (8,314)	$ (23,330)	$ (151,609)

Accumulated Other Comprehensi64

Accumulated Other Comprehensive Income (Loss) (AOCI balances) (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income, beginning balance			$ 453,480
Other comprehensive (loss) income before reclassifications			(26,414)
Net amount reclassified from accumulated other comprehensive income			3,084
Other Comprehensive Loss, Net of Tax	$ (4,713)	$ (8,314)	(23,330)	$ (151,609)
Accumulated Other Comprehensive Income, ending balance	430,150		430,150
Cumulative Foreign Currency Translation Adjustment [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income, beginning balance			8,548
Other comprehensive (loss) income before reclassifications			(17,387)
Net amount reclassified from accumulated other comprehensive income			5,501
Other Comprehensive Loss, Net of Tax			(11,886)
Accumulated Other Comprehensive Income, ending balance	(3,338)		(3,338)
Unrealized Gain on Available-for-Sale Securities [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income, beginning balance			52,130
Other comprehensive (loss) income before reclassifications			(9,898)
Net amount reclassified from accumulated other comprehensive income			0
Other Comprehensive Loss, Net of Tax			(9,898)
Accumulated Other Comprehensive Income, ending balance	42,232		42,232
Unrealized Gain on Pensions and Other Postretirement Plans [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income, beginning balance			392,910
Other comprehensive (loss) income before reclassifications			842
Net amount reclassified from accumulated other comprehensive income			(2,496)
Other Comprehensive Loss, Net of Tax			(1,654)
Accumulated Other Comprehensive Income, ending balance	391,256		391,256
Cash Flow Hedge [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Accumulated Other Comprehensive Income, beginning balance			(108)
Other comprehensive (loss) income before reclassifications			29
Net amount reclassified from accumulated other comprehensive income			79
Other Comprehensive Loss, Net of Tax			108
Accumulated Other Comprehensive Income, ending balance	$ 0		$ 0

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Income (Loss) (Reclassifications out of AOCI) (Details 3) - USD ($) $ in Thousands		3 Months Ended							9 Months Ended		12 Months Ended
		Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Other (expense) income, net		$ 40,458	$ (11,678)	$ 1,105	$ (387,346)	$ 10,723	$ (268,114)	$ (133,273)	$ 29,885	$ (390,664)	$ (778,010)	$ 23,751
Income tax on unrealized gains on available-for-sale securities reclassified out of accumulated other comprehensive income									0	106,110
Amortization of net prior service cost (credit) included in net income		68				(101)			207	(305)
Amortization of net actuarial gain included in net income		(5,676)				(7,425)			(4,419)	(22,032)
Income Before Tax		261,435	(59,525)	589	(478,017)	(26,330)	(406,513)	(166,843)	202,499	(599,686)	(1,077,703)	(105,231)
(Benefit) Provision for Income Taxes		(30,500)	19,600	900	172,000	16,100	61,900	62,300	(10,000)	140,300	312,300	40,500
Interest expense		7,830	8,348	8,501	8,922	9,298	8,525	8,788	24,679	26,610	35,533	35,931
Curtailment gains		(51)				0			(51)	0
Income Net of Tax		230,935	$ (39,925)	$ 1,489	$ (306,017)	(10,230)	$ (344,613)	$ (104,543)	192,499	(459,386)	$ (765,403)	$ (64,731)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income Net of Tax		2,692				(4,385)			3,084	(172,179)
Foreign Currency Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Other (expense) income, net		6,026				0			5,501	0
Unrealized Gain on Available-for-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Other (expense) income, net		0				0			0	(265,274)
Income tax on unrealized gains on available-for-sale securities reclassified out of accumulated other comprehensive income	[1]	0				0			0	106,110
(Benefit) Provision for Income Taxes										1,200
Income Net of Tax		0				0			0	(159,164)
Unrealized Gain on Available-for-Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Berkshire Exchange Transaction [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income tax on unrealized gains on available-for-sale securities reclassified out of accumulated other comprehensive income										107,300
Pension and Other Postretirement Plans [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Amortization of net prior service cost (credit) included in net income	[2]	68				(101)			207	(305)
Amortization of net actuarial gain included in net income	[2]	(5,676)				(7,425)			(4,419)	(22,032)
Pension and Other Postretirement Plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Income Before Tax		(5,557)				(7,526)			(4,161)	(22,337)
(Benefit) Provision for Income Taxes		2,223				3,011			1,665	8,935
Curtailment gains	[2]	51				0			51	0
Income Net of Tax		(3,334)				(4,515)			(2,496)	(13,402)
Cash Flow Hedge [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
(Benefit) Provision for Income Taxes		0				(87)			(53)	(258)
Interest expense		0				217			132	645
Income Net of Tax		$ 0				$ 130			$ 79	$ 387
[1]	Benefits of $1.2 million were recorded in Provision for Income Taxes related to the realized loss for the nine months ended September 30, 2014. The remaining $107.3 million for the nine months ended September 30, 2014, relates to the reversal of income taxes previously recorded on the unrealized gain of the Company’s investment in Berkshire Hathaway Inc. marketable equity securities as part of the Berkshire exchange transaction (see Note 4).
[2]	These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 9).

Contingencies (Details)

Contingencies (Details)	9 Months Ended
	Sep. 30, 2015claimCaseprogram_review	Mar. 11, 2015claim	Feb. 13, 2013allegations	Aug. 17, 2011claimComplaint
Loss Contingencies [Line Items]
Number of existing legal claims or proceedings that are likely to have a material effect on the Company's business	0
Higher Education [Member]
Loss Contingencies [Line Items]
Percentage of receipts from Title IV programs	90.00%
Portion of regulations under 90/10 rule	a KHE school would lose its eligibility to participate in Title IV programs for a period of at least two fiscal years if the institution derives more than 90% of its receipts from Title IV programs, as calculated on a cash basis in accordance with the Higher Education Act and applicable ED regulations, in each of two consecutive fiscal years. An institution with Title IV receipts exceeding 90% for a single fiscal year would be placed on provisional certification and may be subject to other enforcement measures.
Title IV participating institutions including Broomall PA and Pittsburgh PA [Member] | Higher Education [Member]
Loss Contingencies [Line Items]
Number of pending program reviews | program_review	5
Title IV participating institutions including Broomall PA and Pittsburgh PA [Member] | Higher Education [Member] | Sale of KHE Campuses business [Member]
Loss Contingencies [Line Items]
Number of pending program reviews | program_review	4
Diaz Case [Member] | Education [Member]
Loss Contingencies [Line Items]
Separate Complaints Included In Diaz Case Received Rulings | Complaint				3
Number of allegations not dismissed				1
Diaz Claims [Member] | Education [Member]
Loss Contingencies [Line Items]
Number of claims appealed		4
Number of claims affirmed for dismissal by US Court of Appeal		3
Number of claims revered and remanded by US Court of Appeal		1
Urquilla-Diaz And Jajdelski Case [Member] | Education [Member]
Loss Contingencies [Line Items]
Number of unsealed cases filed by former employees under the U.S. Federal False Claims Act | Case	2
Jajdelski Case [Member] | Education [Member]
Loss Contingencies [Line Items]
Number of allegations not dismissed | allegations			1

Business Segments (Narrative) (

Business Segments (Narrative) (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015Segment
Business Segments [Line Items]
Number of reportable segments		5
Periods from 2011 to Q2 2015 [Member] | Test Preparation [Member] | Reportable Subsegments [Member] | Education [Member] | Operating Segments [Member]
Business Segments [Line Items]
Immaterial Error Correction Amount | $	$ 3

Business Segments (Information

Business Segments (Information by Operating Segment) (Details 1) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Operating Revenues	$ 641,432	$ 680,890	$ 647,425	$ 727,625	$ 703,205	$ 673,582	$ 632,620	$ 1,969,747	$ 2,009,407	$ 2,737,032	$ 2,600,602
Income (Loss) from Operations	(213,723)	56,225	8,862	99,024	41,209	54,780	37,707	(148,636)	133,695	232,720	149,434
Equity in earnings (losses) of affiliates, net	95	(353)	(404)	202	4,613	91,503	4,052	(662)	100,168	100,370	13,215
Interest Expense, Net	(7,349)	(8,025)	(7,942)	(8,555)	(8,769)	(7,884)	(8,189)	(23,316)	(24,841)	(33,397)	(33,667)
Other income (expense), net	(40,458)	11,678	(1,105)	387,346	(10,723)	268,114	133,273	(29,885)	390,664	778,010	(23,751)
Income (loss) from Continuing Operations Before Income Taxes	(261,435)	59,525	(589)	478,017	26,330	406,513	166,843	(202,499)	599,686	1,077,703	105,231
Depreciation of property, plant and equipment	14,460	25,609	22,197	18,618	18,664	18,201	19,430	62,266	56,295	74,913	101,171
Amortization Of Intangible Assets And Impairment Of Goodwill And Other Long-Lived Assets	253,103	11,523	4,738					269,364	12,972	35,489	15,169
Amortization Of Intangible Assets And Impairment Of Intangibles And Other Long-Lived Assets				22,517	7,354	2,936	2,682
Amortization of intangible assets	4,512	4,647	4,738	5,215	7,354	2,936	2,682	13,897	12,972	18,187	11,919
Impairment of Goodwill and Other Long-lived Assets	248,591				0			255,467	0
Net Pension (Credit) Expense	(16,255)	(12,415)	(12,407)	(18,686)	(14,237)	(18,807)	(13,052)	(41,077)	(46,095)	(64,780)	(20,727)
Identifiable Assets	2,969,058			4,384,167				2,969,058		4,384,167
Investments in Marketable Equity Securities	312,892			193,793				312,892		193,793
Investments in Affiliates	53,198			19,811				53,198		19,811
Prepaid Pension Cost	1,189,181			1,152,488				1,189,181		1,152,488
Assets Held for Sale	0			2,060				0		2,060
Total Assets	4,524,329			5,752,319				4,524,329		5,752,319
Operating Segments [Member] | Education [Member]
Segment Reporting Information [Line Items]
Operating Revenues	481,746	523,625	500,602	551,381	543,918	542,964	522,154	1,505,973	1,609,036	2,160,417	2,163,734
Income (Loss) from Operations	(242,777)	15,848	(22,849)	33,413	12,551	17,637	1,862	(249,778)	32,050	65,463	50,989
Depreciation of property, plant and equipment	10,637	21,980	18,528	14,713	15,237	15,372	16,416	51,145	47,024	61,737	89,622
Amortization Of Intangible Assets And Impairment Of Goodwill And Other Long-Lived Assets	249,930	8,343	1,507					259,780	5,649	24,941	11,753
Amortization Of Intangible Assets And Impairment Of Intangibles And Other Long-Lived Assets				19,292	1,927	1,798	1,924
Amortization of intangible assets	1,339				1,927			4,313	5,649
Impairment of Goodwill and Other Long-lived Assets	248,591				0			255,467	0
Net Pension (Credit) Expense	7,525	3,947	3,947	3,855	3,854	3,566	4,143	15,419	11,563	15,418	16,538
Identifiable Assets	1,249,359			1,781,543				1,249,359		1,781,543
Operating Segments [Member] | Education [Member] | Reportable Subsegments [Member] | Higher Education [Member]
Segment Reporting Information [Line Items]
Operating Revenues	203,529				249,882			681,814	755,597
Income (Loss) from Operations	3,153				5,391			28,510	39,487
Depreciation of property, plant and equipment	4,066				7,320			13,688	22,140
Net Pension (Credit) Expense	3,964				2,628			9,028	7,885
Identifiable Assets	227,406			749,421				227,406		749,421
Operating Segments [Member] | Education [Member] | Reportable Subsegments [Member] | Test Preparation [Member]
Segment Reporting Information [Line Items]
Operating Revenues	83,706				85,108			233,313	234,010
Income (Loss) from Operations	13,620				6,980			16,365	(3,552)
Depreciation of property, plant and equipment	2,052				2,865			7,205	9,721
Net Pension (Credit) Expense	775				722			2,325	2,166
Identifiable Assets	147,998			167,055				147,998		167,055
Operating Segments [Member] | Education [Member] | Reportable Subsegments [Member] | Kaplan International [Member]
Segment Reporting Information [Line Items]
Operating Revenues	192,702				207,615			585,486	615,507
Income (Loss) from Operations	8,295				13,853			33,585	40,609
Depreciation of property, plant and equipment	4,277				4,951			14,004	14,546
Net Pension (Credit) Expense	114				89			326	267
Identifiable Assets	811,672			838,148				811,672		838,148
Operating Segments [Member] | Education [Member] | Reportable Subsegments [Member] | Kaplan Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating Revenues	1,905				1,492			5,723	4,891
Income (Loss) from Operations	(267,882)				(13,651)			(328,333)	(44,608)
Depreciation of property, plant and equipment	242				101			16,248	617
Net Pension (Credit) Expense	2,672				415			3,740	1,245
Identifiable Assets	62,283			26,919				62,283		26,919
Operating Segments [Member] | Education [Member] | Intersubsegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating Revenues	(96)				(179)			(363)	(969)
Income (Loss) from Operations	37				(22)			95	114
Operating Segments [Member] | Television Broadcasting [Member]
Segment Reporting Information [Line Items]
Operating Revenues	89,693	90,753	83,564	102,446	87,442	88,297	85,651	264,010	261,390	363,836	308,306
Income (Loss) from Operations	40,526	42,014	38,562	54,380	44,979	44,088	44,386	121,102	133,452	187,833	145,192
Depreciation of property, plant and equipment	2,237	2,125	2,109	2,228	2,148	2,039	1,994	6,471	6,181	8,409	8,746
Amortization Of Intangible Assets And Impairment Of Goodwill And Other Long-Lived Assets	63	63	63					189	0	32	0
Amortization Of Intangible Assets And Impairment Of Intangibles And Other Long-Lived Assets				32	0	0	0
Net Pension (Credit) Expense	425	391	391	338	338	358	320	1,207	1,016	1,355	3,961
Identifiable Assets	309,232			305,426				309,232		305,426
Operating Segments [Member] | Other Businesses [Member]
Segment Reporting Information [Line Items]
Operating Revenues	70,052	66,512	63,259	73,798	71,845	42,351	24,913	199,823	139,109	212,907	128,803
Income (Loss) from Operations	(3,059)	(2,161)	(5,162)	5,948	(9,292)	(6,995)	(10,747)	(10,382)	(27,034)	(21,086)	(23,468)
Depreciation of property, plant and equipment	1,335	1,254	1,302	1,430	1,201	780	520	3,891	2,501	3,931	2,177
Amortization Of Intangible Assets And Impairment Of Goodwill And Other Long-Lived Assets	3,110	3,117	3,168					9,395	7,323	10,516	3,416
Amortization Of Intangible Assets And Impairment Of Intangibles And Other Long-Lived Assets				3,193	5,427	1,138	758
Net Pension (Credit) Expense	328	186	193	191	191	202	164	707	557	748	610
Identifiable Assets	472,272			518,807				472,272		518,807
Operating Segments [Member] | Corporate Office [Member]
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0	0	0	0	0	0	0	0	0
Income (Loss) from Operations	(8,413)	524	(1,689)	5,283	(7,029)	50	2,206	(9,578)	(4,773)	510	(23,279)
Depreciation of property, plant and equipment	251	250	258	247	78	10	500	759	589	836	626
Amortization Of Intangible Assets And Impairment Of Goodwill And Other Long-Lived Assets	0	0	0					0	0	0	0
Amortization Of Intangible Assets And Impairment Of Intangibles And Other Long-Lived Assets				0	0	0	0
Net Pension (Credit) Expense	(24,533)	(16,939)	(16,938)	(23,070)	(18,620)	(22,933)	(17,679)	(58,410)	(59,231)	(82,301)	(41,836)
Identifiable Assets	938,195			1,778,391				938,195		1,778,391
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Operating Revenues	$ (59)	$ 0	$ 0	$ 0	$ 0	$ (30)	$ (98)	$ (59)	$ (128)	$ (128)	$ (241)