Graham (GHC) 10-Q3 Nov 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2021	Oct. 29, 2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-06714
Entity Registrant Name	GRAHAM HOLDINGS CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	53-0182885
Entity Address, Address Line One	1300 North 17th Street
Entity Address, City or Town	Arlington
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22209
City Area Code	703
Local Phone Number	345-6300
Title of 12(b) Security	Class B Common Stock, par value $1.00 per share
Trading Symbol	GHC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000104889
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common Stock [Member]
Entity Common Stock, Shares Outstanding		964,001
Class B Common Stock [Member]
Entity Common Stock, Shares Outstanding		3,988,665

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating Revenues
Operating Revenues	$ 809,436	$ 716,982	$ 2,323,043	$ 2,102,110
Operating Costs and Expenses
Selling, general and administrative	215,891	166,207	587,181	506,199
Depreciation of property, plant and equipment	18,741	18,481	51,886	58,098
Amortization of intangible assets	15,981	14,150	43,807	42,642
Impairment of goodwill and other long-lived assets	26,753	1,916	31,568	29,828
Total Operating Costs and Expenses	826,043	676,738	2,268,215	2,047,904
(Loss) Income from Operations	(16,607)	40,244	54,828	54,206
Equity in earnings of affiliates, net	12,964	4,092	28,168	3,727
Interest income	(79)	890	2,687	2,995
Interest expense	(9,343)	(7,247)	(25,144)	(22,302)
Non-operating pension and postretirement benefit income, net	27,561	10,489	81,564	41,028
Gain (loss) on marketable equity securities, net	14,069	59,364	176,981	(1,139)
Other income, net	5,218	222	27,660	11,010
Income Before Income Taxes	33,783	108,054	346,744	89,525
(Benefit from) Provision for Income Taxes	(5,900)	30,000	78,500	26,500
Net Income	39,683	78,054	268,244	63,025
Net (Income) Loss Attributable to Noncontrolling Interests	(97)	(439)	(850)	199
Net Income Attributable to Graham Holdings Company Common Stockholders	$ 39,586	$ 77,615	$ 267,394	$ 63,224
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic net income per common share (in USD per share)	$ 7.93	$ 15.25	$ 53.49	$ 12.15
Basic average number of common shares outstanding (in shares)	4,961	5,060	4,966	5,176
Diluted net income per common share (in USD per share)	$ 7.90	$ 15.22	$ 53.33	$ 12.11
Diluted average number of common shares outstanding (in shares)	4,977	5,072	4,980	5,192
Services [Member]
Operating Revenues
Operating Revenues	$ 515,280	$ 492,399	$ 1,509,986	$ 1,492,631
Operating Costs and Expenses
Cost of services and goods	307,138	298,250	906,555	929,877
Goods [Member]
Operating Revenues
Operating Revenues	294,156	224,583	813,057	609,479
Operating Costs and Expenses
Cost of services and goods	$ 241,539	$ 177,734	$ 647,218	$ 481,260

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 39,683	$ 78,054	$ 268,244	$ 63,025
Foreign currency translation adjustments:
Translation adjustments arising during the period	(16,033)	20,430	(15,352)	(541)
Pension and other postretirement plans:
Amortization of net prior service cost included in net income	793	671	2,377	2,010
Amortization of net actuarial (gain) loss included in net income	(1,066)	304	(4,419)	914
Total pension and other postretirement plans, before tax	(273)	975	(2,042)	2,924
Cash flow hedges gain (loss)	169	157	803	(1,564)
Other Comprehensive (Loss) Income, Before Tax	(16,137)	21,562	(16,591)	819
Income tax benefit (expense) related to items of other comprehensive (loss) income	11	(299)	342	(431)
Other Comprehensive (Loss) Income, Net of Tax	(16,126)	21,263	(16,249)	388
Comprehensive Income	23,557	99,317	251,995	63,413
Comprehensive (income) loss attributable to noncontrolling interests	(97)	(439)	(850)	199
Total Comprehensive Income Attributable to Graham Holdings Company	$ 23,460	$ 98,878	$ 251,145	$ 63,612

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 133,882	$ 413,991
Restricted cash	14,272	9,063
Investments in marketable equity securities and other investments	779,073	587,582
Accounts receivable, net	578,592	537,156
Inventories and contracts in progress	100,258	120,622
Prepaid expenses	78,212	75,523
Income taxes receivable	15,654	29,313
Other current assets	1,641	942
Total Current Assets	1,701,584	1,774,192
Property, Plant and Equipment, Net	461,107	378,286
Lease Right-of-Use Assets	427,225	462,560
Investments in Affiliates	171,249	155,777
Goodwill, Net	1,612,343	1,484,750
Indefinite-Lived Intangible Assets	120,093	120,437
Amortized Intangible Assets, Net	248,246	204,646
Prepaid Pension Cost	1,772,859	1,708,305
Deferred Income Taxes	7,854	8,396
Deferred Charges and Other Assets (includes $782 and $0 of restricted cash)	156,912	146,770
Total Assets	6,679,472	6,444,119
Current Liabilities
Accounts payable and accrued liabilities	506,638	520,236
Deferred revenue	371,208	331,021
Income taxes payable	6,869	5,140
Current portion of lease liabilities	84,144	86,797
Current portion of long-term debt	44,254	6,452
Dividends declared	7,496	0
Total Current Liabilities	1,020,609	949,646
Accrued Compensation and Related Benefits	205,514	201,918
Other Liabilities	33,282	48,768
Deferred Income Taxes	522,923	521,274
Mandatorily Redeemable Noncontrolling Interest	11,921	9,240
Lease Liabilities	392,438	428,849
Long-Term Debt	511,635	506,103
Total Liabilities	2,698,322	2,665,798
Redeemable Noncontrolling Interests	7,412	11,928
Preferred Stock	0	0
Common Stockholders’ Equity
Common stock	20,000	20,000
Capital in excess of par value	388,386	388,159
Retained earnings	7,042,061	6,804,822
Accumulated other comprehensive income, net of taxes
Cumulative foreign currency translation adjustment	(5,598)	9,754
Unrealized gain on pensions and other postretirement plans	593,773	595,287
Cash flow hedges	(1,110)	(1,727)
Cost of Class B common stock held in treasury	(4,073,677)	(4,056,993)
Total Common Stockholders’ Equity	3,963,835	3,759,302
Noncontrolling Interests	9,903	7,091
Total Equity	3,973,738	3,766,393
Total Liabilities and Equity	$ 6,679,472	$ 6,444,119

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Restricted Cash, Noncurrent	$ 782	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities
Net Income	$ 268,244,000	$ 63,025,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and goodwill and other long-lived asset impairments	127,261,000	130,568,000
Amortization of lease right-of-use asset	55,246,000	70,214,000
Net pension benefit and special separation benefit expense	(68,644,000)	(27,669,000)
Gain on marketable equity securities and cost method investments, net	(179,737,000)	(493,000)
Gain on disposition and write-down of businesses, property, plant and equipment, investments and other assets, net	(14,406,000)	(5,918,000)
Provision for doubtful trade receivables	4,171,000	8,229,000
Stock-based compensation expense, net	4,686,000	4,758,000
Foreign exchange gain	(674,000)	(877,000)
Equity in (earnings) losses of affiliates, net of distributions	(11,364,000)	2,784,000
Provision for (benefit from) deferred income taxes	43,580,000	(733,000)
Accretion expense and change in fair value of contingent consideration liabilities	(4,325,000)	0
Change in operating assets and liabilities:
Accounts receivable, net	(27,350,000)	139,306,000
Inventories	21,117,000	51,000
Accounts payable and accrued liabilities	(7,979,000)	(65,708,000)
Deferred revenue	33,561,000	(26,094,000)
Income taxes receivable	10,724,000	(190,000)
Lease liabilitites	(61,775,000)	(67,299,000)
Other assets and other liabilities, net	3,192,000	16,791,000
Other	1,743,000	145,000
Net Cash Provided by Operating Activities	197,271,000	240,890,000
Cash Flows from Investing Activities
Investments in certain businesses, net of cash acquired	(272,428,000)	(20,080,000)
Purchases of property, plant and equipment	(140,935,000)	(56,121,000)
Purchases of marketable equity securities	(48,036,000)	0
Proceeds from sales of marketable equity securities	38,308,000	93,775,000
Investments in equity affiliates, cost method and other investments	(6,610,000)	(8,298,000)
Net proceeds from disposition of businesses, property, plant and equipment, investments and other assets	8,771,000	1,570,000
Return of investment in equity affiliates	474,000	314,000
Other	0	1,562,000
Net Cash (Used in) Provided by Investing Activities	(420,456,000)	12,722,000
Cash Flows from Financing Activities
Deferred payments of acquisition	(30,866,000)	(5,010,000)
Dividends paid	(22,659,000)	(22,870,000)
Net payments under revolving credit facilities	37,696,000	75,905,000
Repayments of borrowings	(16,878,000)	(75,841,000)
Issuance of borrowings	22,684,000	2,084,000
Common shares repurchased	(21,840,000)	(123,155,000)
Net payments on vehicle floor plan payable	(15,035,000)	(16,300,000)
Purchase of noncontrolling interest	(3,508,000)	0
Proceeds from bank overdrafts	1,137,000	6,454,000
Proceeds from exercise of stock options	0	5,335,000
Other	1,244,000	(276,000)
Net Cash Used in Financing Activities	(48,025,000)	(153,674,000)
Effect Of Currency Exchange Rate Change	(2,908,000)	(2,729,000)
Net (Decrease) Increase in Cash and Cash Equivalents and Restricted Cash	(274,118,000)	97,209,000
Beginning Cash and Cash Equivalents and Restricted Cash	423,054,000	214,044,000
Ending Cash and Cash Equivalents and Restricted Cash	$ 148,936,000	$ 311,253,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Common Stockholders' Equity Statement - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Noncontrolling Interest [Member]
As of at Dec. 31, 2019	$ 3,326,796	$ 20,000	$ 381,669	$ 6,534,427	$ 303,295	$ (3,920,152)	$ 7,557
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	(33,891)			(33,891)
Net (income) loss attributable to noncontrolling interest	0			772			(772)
Net income (loss) attributable to redeemable noncontrolling interests	(126)			(126)
Dividends on common stock	(15,289)			(15,289)
Repurchase of Class B Common Stock	(33,610)					(33,610)
Issuance of Class B common stock, net of restricted stock award forfeitures	5,335					5,335
Amortization of unearned stock compensation and stock option expense	1,568		1,568
Other comprehensive income (loss), net of income taxes	(37,943)				(37,943)
As of at Mar. 31, 2020	3,212,840	20,000	383,237	6,485,893	265,352	(3,948,427)	6,785
As of at Dec. 31, 2019	5,655
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss) attributable to redeemable noncontrolling interests	126
As of at Mar. 31, 2020	5,781
As of at Dec. 31, 2019	3,326,796	20,000	381,669	6,534,427	303,295	(3,920,152)	7,557
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	63,025
Other comprehensive income (loss), net of income taxes	388
As of at Sep. 30, 2020	3,246,658	20,000	386,506	6,567,676	303,683	(4,038,052)	6,845
As of at Dec. 31, 2019	5,655
As of at Sep. 30, 2020	11,897
As of at Mar. 31, 2020	3,212,840	20,000	383,237	6,485,893	265,352	(3,948,427)	6,785
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	18,862			18,862
Net (income) loss attributable to noncontrolling interest	0			37			(37)
Acquisition of redeemable noncontrolling interest	0
Net income (loss) attributable to redeemable noncontrolling interests	(45)			(45)
Dividends on common stock	(7,581)			(7,581)
Repurchase of Class B Common Stock	(29,295)					(29,295)
Amortization of unearned stock compensation and stock option expense	1,567		1,567
Other comprehensive income (loss), net of income taxes	17,068				17,068
As of at Jun. 30, 2020	3,213,416	20,000	384,804	6,497,166	282,420	(3,977,722)	6,748
As of at Mar. 31, 2020	5,781
Increase (Decrease) in Temporary Equity [Roll Forward]
Acquisition of redeemable noncontrolling interest	6,005
Net income (loss) attributable to redeemable noncontrolling interests	45
As of at Jun. 30, 2020	11,831
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	78,054			78,054
Net (income) loss attributable to noncontrolling interest	0			(373)			373
Net income (loss) attributable to redeemable noncontrolling interests	(66)			(66)
Distribution to noncontrolling interest	(276)						(276)
Dividends on common stock	(7,100)			(7,100)
Repurchase of Class B Common Stock	(60,250)					(60,250)
Issuance of Class B common stock, net of restricted stock award forfeitures	(146)		(66)			(80)
Amortization of unearned stock compensation and stock option expense	1,768		1,768
Other comprehensive income (loss), net of income taxes	21,263				21,263
Other	(5)			(5)
As of at Sep. 30, 2020	3,246,658	20,000	386,506	6,567,676	303,683	(4,038,052)	6,845
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss) attributable to redeemable noncontrolling interests	66
As of at Sep. 30, 2020	11,897
As of at Dec. 31, 2020	3,766,393	20,000	388,159	6,804,822	603,314	(4,056,993)	7,091
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	112,635			112,635
Net (income) loss attributable to noncontrolling interest	0			(185)			185
Change in redemption value of redeemable noncontrolling interest	761		697				64
Distribution to noncontrolling interest	(126)						(126)
Dividends on common stock	(15,106)			(15,106)
Issuance of Class B common stock, net of restricted stock award forfeitures	(104)		(5,188)			5,084
Amortization of unearned stock compensation and stock option expense	1,589		1,589
Other comprehensive income (loss), net of income taxes	(1,203)				(1,203)
Purchase of redeemable noncontrolling interest	0
As of at Mar. 31, 2021	3,864,839	20,000	385,257	6,902,166	602,111	(4,051,909)	7,214
As of at Dec. 31, 2020	11,928
Increase (Decrease) in Temporary Equity [Roll Forward]
Change in redemption value of redeemable noncontrolling interests	(634)
Purchase of redeemable noncontrolling interest	(3,508)
As of at Mar. 31, 2021	7,786
As of at Dec. 31, 2020	3,766,393	20,000	388,159	6,804,822	603,314	(4,056,993)	7,091
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	268,244
Other comprehensive income (loss), net of income taxes	(16,249)
As of at Sep. 30, 2021	3,973,738	20,000	388,386	7,042,061	587,065	(4,073,677)	9,903
As of at Dec. 31, 2020	11,928
As of at Sep. 30, 2021	7,412
As of at Mar. 31, 2021	3,864,839	20,000	385,257	6,902,166	602,111	(4,051,909)	7,214
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	115,926			115,926
Net (income) loss attributable to noncontrolling interest	0			(699)			699
Net income (loss) attributable to redeemable noncontrolling interests	131			131
Change in redemption value of redeemable noncontrolling interest	65						65
Distribution to noncontrolling interest	(152)						(152)
Dividends on common stock	(7,553)			(7,553)
Issuance of Class B common stock, net of restricted stock award forfeitures	(96)		(47)			(49)
Amortization of unearned stock compensation and stock option expense	1,672		1,672
Other comprehensive income (loss), net of income taxes	1,080				1,080
As of at Jun. 30, 2021	3,975,912	20,000	386,882	7,009,971	603,191	(4,051,958)	7,826
As of at Mar. 31, 2021	7,786
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss) attributable to redeemable noncontrolling interests	(131)
Change in redemption value of redeemable noncontrolling interests	65
As of at Jun. 30, 2021	7,720
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) for the period	39,683			39,683
Noncontrolling interest capital contribution	1,750						1,750
Net (income) loss attributable to noncontrolling interest	0			(469)			469
Net income (loss) attributable to redeemable noncontrolling interests	372			372
Change in redemption value of redeemable noncontrolling interest	64						64
Distribution to noncontrolling interest	(206)						(206)
Dividends on common stock	(7,496)			(7,496)
Repurchase of Class B Common Stock	(21,840)					(21,840)
Issuance of Class B common stock, net of restricted stock award forfeitures	(67)		(188)			121
Amortization of unearned stock compensation and stock option expense	1,692		1,692
Other comprehensive income (loss), net of income taxes	(16,126)				(16,126)
As of at Sep. 30, 2021	3,973,738	$ 20,000	$ 388,386	$ 7,042,061	$ 587,065	$ (4,073,677)	$ 9,903
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income (loss) attributable to redeemable noncontrolling interests	(372)
Change in redemption value of redeemable noncontrolling interests	64
As of at Sep. 30, 2021	$ 7,412

Organization, Basis of Presenta

Organization, Basis of Presentation and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
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 (U.S.). The Company’s media operations comprise the ownership and operation of seven television broadcasting stations, several websites and print publications, podcast content and a marketing solutions provider. The Company’s other business operations include manufacturing, automotive dealerships, consumer internet brands, restaurants and entertainment venues, custom framing services and home health and hospice services. 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, 2021 and 2020 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, 2020. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. 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. The Company assessed certain accounting matters that generally require consideration of forecasted financial information, in context with the information reasonably available to the Company and the unknown future impacts of the novel coronavirus (COVID-19) pandemic as of September 30, 2021 and through the date of this filing. The accounting matters assessed included, but were not limited to, the Company’s carrying value of goodwill and other long-lived assets, allowance for doubtful accounts, inventory valuation and related reserves, fair value of financial assets, valuation allowances for tax assets and revenue recognition. Other than the goodwill and other long-lived asset impairment charges (see Note 6 and Note 8), there were no other impacts to the Company’s condensed consolidated financial statements as of and for the nine months ended September 30, 2021 resulting from our assessments. The Company’s assessments as of and for the nine months ended September 30, 2020 resulted in goodwill, indefinite-lived asset and other long-lived asset impairment charges (see Note 6 and Note 8). The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to the Company’s condensed consolidated financial statements in future reporting periods.

Acquisitions and Dispositions o

Acquisitions and Dispositions of Businesses	9 Months Ended
Acquisitions and Dispositions of Businesses	Sep. 30, 2021
Acquisitions And Dispositions [Abstract]
Acquisitions and Dispositions of Businesses	ACQUISITIONS AND DISPOSITIONS OF BUSINESSES Acquisitions . On June 14, 2021, the Company acquired all of the outstanding common shares of Leaf Group Ltd. (Leaf) for $308.6 million in cash and the assumption of $9.2 million in liabilities related to their previous stock compensation plan, which will be paid in the future. Leaf is a consumer internet company that builds creator-driven brands in lifestyle and home and art design categories. The acquisition is expected to provide benefits in the future by diversifying the Company’s business operations and providing operating synergies with other business units. The Company includes Leaf in other businesses. During 2020, the Company acquired three businesses: two in education and one in other businesses for $96.8 million in cash and contingent consideration. The assets and liabilities of the companies acquired were recorded at their estimated fair values at the date of acquisition. In the first three months of 2020, Kaplan acquired two small businesses; one in its supplemental education division and one in its international division. In May 2020, the Company acquired an additional interest in Framebridge, Inc. for cash and contingent consideration that resulted in the Company obtaining control of the investee. Following the acquisition, the Company owns 93.4% of Framebridge. The Company previously accounted for Framebridge under the equity method, and included it in Investments in Affiliates on the Condensed Consolidated Balance Sheet (see Note 3). The contingent consideration is primarily based on Framebridge achieving revenue milestones within a specific time period. The fair value of the contingent consideration at the acquisition date was $50.6 million, determined using a Monte Carlo simulation. The fair value of the redeemable noncontrolling interest in Framebridge was $6.0 million as of the acquisition date, determined using a market approach. The minority shareholder has an option to put 20% of the minority shares annually starting in 2024. The acquisition is expected to provide benefits in the future by diversifying the Company’s business operations and is included in other businesses. Acquisition-related costs for acquisitions that closed during the first nine months of 2021 and 2020 were $1.6 million and $1.1 million, respectively, and were expensed as incurred. The aggregate purchase price of the 2021 and 2020 acquisitions was allocated as follows (2021 on a preliminary basis), based on acquisition date fair values to the following assets and liabilities: Purchase Price Allocation Nine Months Ended Year Ended (in thousands) September 30, 2021 December 31, 2020 Accounts receivable $ 16,080 $ 745 Inventory 777 3,496 Property, plant and equipment 6,019 3,346 Lease right-of-use assets 7,744 6,580 Goodwill 167,334 73,951 Amortized intangible assets 88,000 14,589 Other assets 4,507 975 Deferred income taxes 40,850 15,958 Other liabilities (49,823) (14,917) Current and noncurrent lease liabilities (7,742) (6,593) Redeemable noncontrolling interest — (6,005) Aggregate purchase price, net of cash acquired $ 273,746 $ 92,125 The 2021 fair values recorded were based upon preliminary valuations and the estimates and assumptions used in such valuations are subject to change within the measurement period (up to one year from the acquisition date). The recording of deferred tax assets and liabilities, and the amounts of residual goodwill and other intangibles are not yet finalized. Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. The goodwill recorded due to these acquisitions is attributable to the assembled workforces of the acquired companies and expected synergies. The Company expects to deduct $43.4 million and $3.2 million of goodwill for income tax purposes for the acquisitions completed in 2021 and 2020, respectively. The acquired companies were consolidated into the Company’s financial statements starting on their respective acquisition dates. The Company's Condensed Consolidated Statements of Operations for the third quarter of 2021 include aggregate revenues and operating losses for the company acquired in 2021 of $57.5 million and $7.2 million, respectively. The Company's Condensed Consolidated Statements of Operations include aggregate revenues and operating losses of $66.7 million and $9.1 million, respectively, for the first nine months of 2021. The following unaudited pro forma financial information presents the Company’s results as if the current year acquisitions had occurred at the beginning of 2020. The unaudited pro forma information also includes the 2020 acquisitions as if they occurred at the beginning of 2019: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Operating revenues $ 809,810 $ 780,302 $ 2,416,109 $ 2,255,760 Net income 40,066 75,328 257,887 38,627 These pro forma results were based on estimates and assumptions, which the Company believes are reasonable, and include the historical results of operations of the acquired companies and adjustments for depreciation and amortization of identified assets and the effect of pre-acquisition transaction related expenses incurred by the Company and the acquired entities. The pro forma information does not include efficiencies, cost reductions and synergies expected to result from the acquisitions. They are not the results that would have been realized had these entities been part of the Company during the periods presented and are not necessarily indicative of the Company’s consolidated results of operations in future periods. Sale of Businesses. In December 2020, the Company completed the sale of Megaphone which was included in other businesses. Other Transactions. In March 2021, Hoover’s minority shareholders put the remaining outstanding shares to the Company, which had a redemption value of $3.5 million. Following the redemption, the Company owns 100% of Hoover.

Investments

Investments	9 Months Ended
Investments	Sep. 30, 2021
Investments [Abstract]
Investments	INVESTMENTS Money Market Investments. As of September 30, 2021 the Company had no money market investments, compared to $268.8 million at December 31, 2020, that are classified as cash and cash equivalents in the Company’s Condensed Consolidated Balance Sheets. Investments in Marketable Equity Securities. Investments in marketable equity securities consist of the following: As of September 30, December 31, (in thousands) Total cost $ 275,825 $ 232,847 Gross unrealized gains 489,191 340,255 Gross unrealized losses (185) — Total Fair Value $ 764,831 $ 573,102 At September 30, 2021 and December 31, 2020, the Company owned 44,430 shares and 28,000 shares, respectively, in Markel Corporation (Markel) valued at $53.1 million and $28.9 million, respectively. The Co-Chief Executive Officer of Markel, Mr. Thomas S. Gayner, is a member of the Company’s Board of Directors. As of September 30, 2021, there was no marketable equity security holding that exceeded 5% of the Company’s total assets. The Company purchased $48.0 million of marketable equity securities during the first nine months of 2021. There were no purchases of marketable equity securities during the first nine months of 2020. During the first nine months of 2021, the gross cumulative realized gains from the sales of marketable equity securities were $27.7 million. The total proceeds from such sales were $38.3 million. During the first nine months of 2020, the gross cumulative realized gains from the sales of marketable equity securities were $23.0 million. The total proceeds from such sales were $93.8 million. The net gain (loss) on marketable equity securities comprised the following: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Gain (loss) on marketable equity securities, net $ 14,069 $ 59,364 $ 176,981 $ (1,139) Less: Net losses (gains) in earnings from marketable equity securities sold and donated 411 — (7,750) 13,382 Net unrealized gains in earnings from marketable equity securities still held at the end of the period $ 14,480 $ 59,364 $ 169,231 $ 12,243 Investments in Affiliates. As of September 30, 2021, the Company held an approximate 12% interest in Intersection Holdings, LLC, and in several other affiliates; Graham Healthcare Group (GHG) 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 GHG and a Michigan hospital, and a 40% interest in the joint venture formed between GHG and Allegheny Health Network (AHN). For the three and nine months ended September 30, 2021, the Company recorded $2.8 million and $8.0 million, respectively, in revenue for services provided to the affiliates of GHG. For the three and nine months ended September 30, 2020, the Company recorded $2.4 million and $7.1 million, respectively, in revenue for services provided to the affiliates of GHG. The Company had $51.3 million and $26.1 million in its investment account that represents cumulative undistributed income in its investments in affiliates as of September 30, 2021 and December 31, 2020, respectively. In the third quarter of 2021, the Company recorded an impairment charge of $6.6 million on one of its investments in affiliates as a result of the challenging economic environment for this business following an announcement by the Chinese government to reform the education sector for private education companies. In the first quarter of 2020, the Company recorded impairment charges of $3.6 million on two of its investments in affiliates as a result of the challenging economic environment for these businesses, of which $2.7 million related to the Company’s investment in Framebridge. It is reasonably possible that further COVID-19 disruptions could result in additional impairment charges related to the Company’s investments in affiliates should the impact of COVID-19 not dissipate or have a worsening adverse impact on our affiliates in future periods. The Company records its share of the earnings or losses of its affiliates from their most recent available financial statements. In some instances, the reporting period of the affiliates’ financial statements lags the Company’s financial reporting period, but such lag is never more than three months. It is possible that the Company’s results of operations for the nine months ended September 30, 2021 does not capture the impact of the COVID-19 pandemic on the earnings or losses of the affiliates whose financial results are recorded on a lag basis. In May 2020, the Company made an additional investment in Framebridge (se e Note 2) th at resulted in the Company obtaining control of the investee. The results of operations, cash flows, assets and liabilities of Framebridge are included in the condensed consolidated financial statements of the Company from the date of the acquisition. Timothy J. O’Shaughnessy, President and Chief Executive Officer of Graham Holdings Company, was a personal investor in Framebridge and served as Chairman of the Board prior to the acquisition of the additional interest. The Company acquired Mr. O’Shaughnessy’s interest under the same terms as the other Framebridge investors. Additionally, Kaplan International Holdings Limited (KIHL) held a 45% interest in a joint venture formed with York University. KIHL loaned the joint venture £22 million, which loan is repayable over 25 years at an interest rate of 7% and guaranteed by the University of York. The loan is repayable by December 2041.

Accounts Receivable, Accounts P

Accounts Receivable, Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2021
Accounts Receivable Accounts Payable And Accrued Liabilities [Abstract]
Accounts Receivable Accounts Payable And Accrued Liabilities	ACCOUNTS RECEIVABLE, ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts receivable consist of the following: As of September 30, December 31, (in thousands) Receivables from contracts with customers, less estimated credit losses of $21,866 and $21,494 $ 550,853 $ 519,577 Other receivables 27,739 17,579 $ 578,592 $ 537,156 Credit loss expense was $1.7 million and $1.0 million for the three months ended September 30, 2021 and 2020, respectively. Credit loss expense was $4.2 million and $8.2 million for the nine months ended September 30, 2021 and 2020, respectively. Accounts payable and accrued liabilities consist of the following: As of September 30, December 31, (in thousands) Accounts payable $ 105,143 $ 106,215 Accrued compensation and related benefits 160,062 135,493 Other accrued liabilities 241,433 278,528 $ 506,638 $ 520,236 Cash overdrafts of $3.3 million and $2.1 million are included in accounts payable as of September 30, 2021 and December 31, 2020, respectively.

Inventories, Contracts in Progr

Inventories, Contracts in Progress and Vehicle Floor Plan Payable	9 Months Ended
	Sep. 30, 2021
Inventory, Net of Allowances, Customer Advances and Progress Billings [Abstract]
Inventories, Contracts in Progress and Vehicle Floor Plan Payable	INVENTORIES, CONTRACTS IN PROGRESS AND VEHICLE FLOOR PLAN PAYABLE Inventories and contracts in progress consist of the following: As of September 30, December 31, (in thousands) Raw materials $ 43,045 $ 45,382 Work-in-process 10,873 10,402 Finished goods 45,311 64,061 Contracts in progress 1,029 777 $ 100,258 $ 120,622 The Company finances new and used vehicle inventory through a standardized floor plan facility (the “floor plan facility”) with Truist Bank. The vehicle floor plan facility bears interest at variable rates that are based on LIBOR plus 1.15% per annum. The weighted average interest rate for the floor plan facility was 0.9% and 1.2% for the three months ended September 30, 2021 and 2020, respectively. The weighted average interest rate for the floor plan facility was 1.1% and 1.9% for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, the aggregate capacity under the floor plan facility was $50 million, of which $10.9 million had been utilized, and is included in accounts payable and accrued liabilities in the Condensed Consolidated Balance Sheet. Changes in the vehicle floor plan payable are reported as cash flows from financing activities in the Condensed Consolidated Statements of Cash Flows. The floor plan facility is collateralized by vehicle inventory and other assets of the relevant dealership subsidiary, and contains a number of covenants, including, among others, covenants restricting the dealership subsidiary with respect to the creation of liens and changes in ownership, officers and key management personnel. The Company was in compliance with all of these restrictive covenants as of September 30, 2021. The floor plan interest expense related to the vehicle floor plan arrangements is offset by amounts received from manufacturers in the form of floor plan assistance capitalized in inventory and recorded against cost of goods sold in the Condensed Consolidated Statements of Operations when the associated inventory is sold. For the three months ended September 30, 2021 and 2020, the Company recognized a reduction in cost of goods sold of $0.7 million and $0.6 million, respectively, related to manufacturer floor plan assistance. For the nine months ended September 30, 2021 and 2020, the Company recognized a reduction in cost of goods sold of $2.1 million and $1.5 million, respectively, related to manufacturer floor plan assistance.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	GOODWILL AND OTHER INTANGIBLE ASSETS The Company changed the presentation of its segments in the third quarter of 2021 into the following seven segments: Kaplan International, Higher Education, Supplemental Education, Television Broadcasting, Manufacturing, Healthcare and Automotive (see Note 16). In the third quarter of 2021, as a result of the emergence of the COVID-19 Delta variant and continued weak product demand in the commercial office electrical products and hospitality sectors caused by the COVID-19 pandemic, the Company performed an interim review of the goodwill and indefinite-lived intangibles of the Dekko reporting unit. As a result of the impairment review, the Company recorded a $26.7 million goodwill impairment charge. The Company estimated the fair value of the reporting unit by utilizing a discounted cash flow model. The carrying value of the reporting unit exceeded the estimated fair value, resulting in a goodwill impairment charge for the amount by which the carrying value exceeded the estimated fair value after taking into account the effect of deferred income taxes. Dekko is included in manufacturing. In the first quarter of 2020, as a result of the uncertainty and challenging operating environment created by the COVID-19 pandemic, the Company performed an interim review of the goodwill, indefinite-lived intangibles and other long-lived assets of the Clyde’s Restaurant Group (CRG) and automotive dealership reporting units and asset groups. As a result of the impairment reviews, the Company recorded a $9.7 million goodwill and indefinite-lived intangible asset impairment charge at CRG and a $6.7 million indefinite-lived intangible asset impairment charge at the auto dealerships. The Company estimated the fair value of the reporting units and indefinite-lived intangible assets by utilizing a discounted cash flow model. The carrying value of the CRG reporting unit and the indefinite-lived intangible assets exceeded the estimated fair value, resulting in a goodwill and indefinite-lived intangible asset impairment charge for the amount by which the carrying value exceeded the estimated fair value. CRG is included in other businesses and the automotive dealerships are included in automotive. Additional COVID-19 disruptions could result in future adverse changes in projections for future operating results or other key assumptions, such as projected revenue, profit margin, capital expenditures or cash flows associated with fair value estimates and could lead to additional future impairments, which could be material. Amortization of intangible assets for the three months ended September 30, 2021 and 2020, was $16.0 million and $14.2 million, respectively. Amortization of intangible assets for the nine months ended September 30, 2021 and 2020, was $43.8 million and $42.6 million, respectively. Amortization of intangible assets is estimated to be approximately $16 million for the remainder of 2021, $60 million in 2022, $51 million in 2023, $40 million in 2024, $33 million in 2025 and $48 million thereafter. The changes in the carrying amount of goodwill, by segment, were as follows: (in thousands) Education Television Manufacturing Healthcare Automotive Other Total Balance as of December 31, 2020 Goodwill $ 1,183,379 $ 190,815 $ 234,993 $ 98,421 $ 39,121 $ 91,351 $ 1,838,080 Accumulated impairment losses (331,151) — (7,616) — — (14,563) (353,330) 852,228 190,815 227,377 98,421 39,121 76,788 1,484,750 Acquisitions — — — — — 167,334 167,334 Impairment — — (26,686) — — — (26,686) Foreign currency exchange rate changes (13,055) — — — — — (13,055) Balance as of September 30, 2021 Goodwill 1,170,324 190,815 234,993 98,421 39,121 258,685 1,992,359 Accumulated impairment losses (331,151) — (34,302) — — (14,563) (380,016) $ 839,173 $ 190,815 $ 200,691 $ 98,421 $ 39,121 $ 244,122 $ 1,612,343 The changes in carrying amount of goodwill at the Company’s education division were as follows: (in thousands) Kaplan Higher Supplemental Education Total Balance as of December 31, 2020 Goodwill $ 634,749 $ 174,564 $ 374,066 $ 1,183,379 Accumulated impairment losses — (111,324) (219,827) (331,151) 634,749 63,240 154,239 852,228 Foreign currency exchange rate changes (13,065) — 10 (13,055) Balance as of September 30, 2021 Goodwill 621,684 174,564 374,076 1,170,324 Accumulated impairment losses — (111,324) (219,827) (331,151) $ 621,684 $ 63,240 $ 154,249 $ 839,173 Other intangible assets consist of the following: As of September 30, 2021 As of December 31, 2020 (in thousands) Useful Life Gross Accumulated Net Carrying Gross Accumulated Net Amortized Intangible Assets Student and customer relationships 2–10 years $ 323,569 $ 201,297 $ 122,272 $ 294,077 $ 178,075 $ 116,002 Trade names and trademarks 2–10 years 160,411 65,551 94,860 109,809 54,766 55,043 Network affiliation agreements 10 years 17,400 8,193 9,207 17,400 6,888 10,512 Databases and technology 3–6 years 36,550 24,709 11,841 34,864 19,924 14,940 Noncompete agreements 2–5 years 1,000 990 10 1,000 937 63 Other 1–8 years 29,800 19,744 10,056 24,800 16,714 8,086 $ 568,730 $ 320,484 $ 248,246 $ 481,950 $ 277,304 $ 204,646 Indefinite-Lived Intangible Assets Trade names and trademarks $ 87,085 $ 87,429 Franchise agreements 21,858 21,858 FCC licenses 11,000 11,000 Licensure and accreditation 150 150 $ 120,093 $ 120,437

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	DEBT The Company’s borrowings consist of the following: As of September 30, December 31, (in thousands) 5.75% unsecured notes due June 1, 2026 (1) $ 396,649 $ 396,112 Revolving credit facility 122,251 74,686 Commercial note 23,000 25,250 Pinnacle Bank term loan 9,840 10,692 Pinnacle Bank line of credit — 2,295 Other indebtedness 4,149 3,520 Total Debt $ 555,889 $ 512,555 Less: current portion (44,254) (6,452) Total Long-Term Debt $ 511,635 $ 506,103 ___________ _ (1) The carrying value is net of $3.4 million and $3.9 million of unamortized debt issuance costs as of September 30, 2021 and December 31, 2020, respectively . The outstanding balance on the Company’s revolving credit facility was $122.3 million as of September 30, 2021. Borrowings under the Company’s revolving credit facility consisted of borrowings of $40 million and £61 million under its U.S. dollar and multicurrency tranches, respectively, with interest payable at 1 month USD and 3 month GBP LIBOR, respectively, plus 1.50%. The Company’s other indebtedness at September 30, 2021 and December 31, 2020 is at interest rates of 0% to 16% and matures between 2023 and 2030. The Company is in compliance with all financial covenants as of September 30, 2021. During the three months ended September 30, 2021 and 2020, the Company had average borrowings outstanding of approximately $545.9 million and $515.1 million, respectively, at average annual interest rates of approximately 4.8% and 5.0%, respectively. During the three months ended September 30, 2021 and 2020, the Company incurred net interest expense of $9.4 million and $6.4 million, respectively. During the nine months ended September 30, 2021 and 2020, the Company had average borrowings outstanding of approximately $531.3 million and $512.8 million, respectively, at average annual interest rates of approximately 4.9% and 5.1%, respectively. During the nine months ended September 30, 2021 and 2020, the Company incurred net interest expense of $22.5 million and $19.3 million, respectively. During the three and nine months ended September 30, 2021, the Company recorded net interest expense of $2.6 million and $2.7 million, respectively, to adjust the fair value of the mandatorily redeemable noncontrolling interest. Fair value adjustments are presented within interest expense and interest income in the Company’s Condensed Consolidated Statements of Operations and are reclassified to present the net change in fair value for each reporting period. The fair value of the mandatorily redeemable noncontrolling interest was based on the fair value of the underlying subsidiaries owned by GHC One, after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined by reference to either a discounted cash flow or EBITDA multiple, which approximates fair value (Level 3 fair value assessment). At September 30, 2021 and December 31, 2020, the fair value of the Company’s 5.75% unsecured notes, based on quoted market prices (Level 2 fair value assessment), totaled $417.7 million and $421.7 million, respectively, compared with the carrying amount of $396.6 million and $396.1 million, respectively. The carrying value of the Company’s other unsecured debt at September 30, 2021 and December 31, 2020 approximates fair value.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2021
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, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Marketable equity securities (1) $ 764,831 $ — $ — $ 764,831 Other current investments (2) 7,184 7,058 — 14,242 Total Financial Assets $ 772,015 $ 7,058 $ — $ 779,073 Liabilities Deferred compensation plan liabilities (3) $ — $ 29,950 $ — $ 29,950 Contingent consideration liabilities (4) — — 12,895 12,895 Interest rate swap (5) — 1,534 — 1,534 Mandatorily redeemable noncontrolling interest (6) — — 11,921 11,921 Total Financial Liabilities $ — $ 31,484 $ 24,816 $ 56,300 As of December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets Money market investments (7) $ — $ 268,841 $ — $ 268,841 Marketable equity securities (1) 573,102 — — 573,102 Other current investments (2) 10,397 4,083 — 14,480 Total Financial Assets $ 583,499 $ 272,924 $ — $ 856,423 Liabilities Deferred compensation plan liabilities (3) $ — $ 31,178 $ — $ 31,178 Contingent consideration liabilities (4) — — 37,174 37,174 Interest rate swap (5) — 2,342 — 2,342 Foreign exchange swap (8) — 259 — 259 Mandatorily redeemable noncontrolling interest (6) — — 9,240 9,240 Total Financial Liabilities $ — $ 33,779 $ 46,414 $ 80,193 ____________ (1) The Company’s investments in marketable equity securities are held in common shares of U.S. and Canadian corporations that are actively traded on U.S. and Canadian stock exchanges. Price quotes for these shares are readily available. (2) Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits. These investments are valued using a market approach based on the quoted market prices of the security or inputs that include quoted market prices for similar instruments and are classified as either Level 1 or Level 2 in the fair value hierarchy. (3) 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. (4) Included in Accounts payable and accrued liabilities and Other Liabilities. The Company determined the fair value of the contingent consideration liabilities using either a Monte Carlo simulation or probability-weighted analysis depending on the type of target included in the contingent consideration requirements (revenue, EBITDA, client retention). All analyses included estimated financial projections for the acquired businesses and acquisition-specific discount rates. (5) 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. (6) The fair value of the mandatorily redeemable noncontrolling interest is based on the fair value of the underlying subsidiaries owned by GHC One, after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined using enterprise value analyses which include an equal weighing between guideline public company and discounted cash flow analyses. (7) The Company’s money market investments are included in cash and cash equivalents and the value considers the liquidity of the counterparty. (8) Included in Accounts payable and accrued liabilities, and valued based on a valuation model that calculates the differential between the contract price and the market-based forward rate. The following table provides a reconciliation of changes in the Company’s financial liabilities measured at fair value on a recurring basis, using Level 3 inputs: (in thousands) Contingent consideration liabilities Mandatorily redeemable noncontrolling interest As of December 31, 2020 $ 37,174 $ 9,240 Changes in fair value (1) (5,482) 2,703 Capital contributions — 50 Accretion of value included in net income (1) 1,157 — Settlements or distributions (19,942) (72) Foreign currency exchange rate changes (12) — As of September 30, 2021 $ 12,895 $ 11,921 ____________ (1) Changes in fair value and accretion of value of contingent consideration liabilities are included in Selling, general and administrative expenses and the changes in fair value of mandatorily redeemable noncontrolling interest is included in Interest expense in the Company’s Condensed Consolidated Statements of Operations. During the three and nine months ended September 30, 2021, the Company recorded goodwill and other long-lived asset impairment charges of $26.8 million and $31.6 million, respectively. During the three and nine months ended September 30, 2020, the Company recorded goodwill and other long-lived asset impairment charges of $1.9 million and $29.8 million, respectively (see Note 16). The remeasurement of goodwill and other long-lived assets is classified as a Level 3 fair value assessment due to the significance of unobservable inputs developed in the determination of the fair value. The Company used a discounted cash flow model to determine the estimated fair value of the reporting unit, indefinite-lived intangible assets, and other long-lived assets. A market value approach was also utilized to supplement the discounted cash flow model. The Company made estimates and assumptions regarding future cash flows, royalty rates, discount rates, market values, and long-term growth rates. During the nine months ended September 30, 2021, the Company recorded gains of $10.5 million to equity securities that are accounted for as cost method investments based on observable transactions for identical or similar investments of the same issuer. During the three and nine months ended September 30, 2020, the Company recorded gains of $1.6 million and $4.2 million, respectively, to an equity security that is accounted for as a cost method investment based on observable transactions for identical or similar investments of the same issuer. During the nine months ended September 30, 2020, the Company recorded impairment losses of $2.6 million to equity securities that are accounted for as cost method investments. During the third quarter of 2021, the Company recorded an impairment charge of $6.6 million on one of its investments in affiliates. During the first quarter of 2020

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXESOn 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. Since July 1, 2015, Cable One has been an independent public company trading on the New York Stock Exchange under the symbol “CABO”. In connection with the Coronavirus Aid, Relief and Economic Security (CARES) Act, Cable One has the ability to carryback its 2019 taxable losses to the tax period from January 1, 2015 to June 30, 2015, the period in which Cable One was included in the Company’s 2015 tax return. As a result, the Company amended its 2015 tax returns in order to accommodate Cable One's request to carryback its 2019 taxable losses. The Company expects that this action will have no impact on the results or the financial position of the Company. To reflect the expected refund due to Cable One, the Company has included an estimated $15.9 million current income tax receivable and a corresponding current liability to Cable One on its balance sheet as of September 30, 2021.The Company's effective tax rate for the first nine months of 2021 and 2020 was 22.6% and 29.6%, respectively. The Company’s effective tax rate for 2021 was favorably impacted by a $15.7 million deferred tax adjustment arising from a change in the estimated deferred state income tax rate attributable to the apportionment formula used in the calculation of deferred taxes related to the Company’s pension and other postretirement plans.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
Revenue from Contracts with Customers	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	REVENUE FROM CONTRACTS WITH CUSTOMERSThe Company generated 82% and 79% of its revenue from U.S. domestic sales for the three and nine months ended September 30, 2021. The remaining 18% and 21% of revenue was generated from non-U.S. sales for the three and nine months ended September 30, 2021, respectively. For the three and nine months ended September 30, 2020, 83% and 78% of revenue was from U.S. domestic sales and the remaining 17% and 22% of revenue was generated from non-U.S. sales. For the three and nine months ended September 30, 2021, the Company recognized 66% and 67% of its revenue over time as control of the services and goods transferred to the customer, and the remaining 34% and 33% at a point in time, when the customer obtained control of the promised goods. For the three and nine months ended September 30, 2020, the Company recognized 71% and 73% of its revenue over time, and the remaining 29% and 27% at a point in time. In the second quarter of 2020, GHG received $7.4 million under the CARES Act as a general distribution from the Provider Relief Fund to provide relief for lost revenues and expenses incurred in connection with COVID-19. The healthcare revenue for the three and nine months ended September 30, 2020 includes $0.2 million and $5.7 million, respectively, for lost revenues related to COVID-19. Contract Assets. As of September 30, 2021, the Company recognized a contract asset of $13.4 million related to a contract at a Kaplan International business, which is included in Deferred Charges and Other Assets. The Company expects to recognize an additional $4.0 million related to this performance obligation within the next year. As of December 31, 2020, the contract asset was $8.7 million. Deferred Revenue. The Company records deferred revenue when cash payments are received or due in advance of the Company’s performance, including amounts which are refundable. The following table presents the change in the Company’s deferred revenue balance: As of September 30, December 31, % (in thousands) Change Deferred revenue $ 376,803 $ 343,322 10 In April 2020, GHG received $31.5 million under the expanded Medicare Accelerated and Advanced Payment Program modified by the CARES Act as a result of COVID-19. The Department of Health and Human Services started to recoup this advance 365 days after the payment was issued and for the three and nine months ended September 30, 2021, $6.6 million and $11.6 million of the balance was recognized in revenue for claims submitted for eligible services. The remaining amount is included in the current deferred revenue balance on the Condensed Consolidated Balance Sheet as of September 30, 2021. As of December 31, 2020, the $31.5 million balance was included in the current and noncurrent deferred revenue balances on the Condensed Consolidated Balance Sheet. The majority of the change in deferred revenue balance is related to the cyclical nature of services in the Kaplan international division. During the nine months ended September 30, 2021, the Company recognized $257.4 million related to the Company’s deferred revenue balance as of December 31, 2020. Revenue allocated to remaining performance obligations represents deferred revenue amounts that will be recognized as revenue in future periods. As of September 30, 2021, the deferred revenue balance related to certain medical and nursing qualifications with an original contract length greater than twelve months at Kaplan Supplemental Education was $9.4 million. Kaplan Supplemental Education expects to recognize 68% of this revenue over the next twelve months and the remainder thereafter. Costs to Obtain a Contract. The following table presents changes in the Company’s costs to obtain a contract asset: (in thousands) Balance at Costs associated with new contracts Less: Costs amortized during the period Other Balance 2021 $ 24,363 $ 23,907 $ (33,903) $ 978 $ 15,345 Other activity includes currency translation adjustments for the nine months ended September 30, 2021.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHAREThe 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 net income and share data used in the basic and diluted earnings per share computations using the two-class method: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator: Numerator for basic earnings per share: Net income attributable to Graham Holdings Company common stockholders $ 39,586 $ 77,615 $ 267,394 $ 63,224 Less: Dividends paid-common stock outstanding and unvested restricted shares (7,496) (7,100) (30,155) (29,970) Undistributed earnings 32,090 70,515 237,239 33,254 Percent allocated to common stockholders 99.32 % 99.43 % 99.32 % 99.43 % 31,872 70,116 235,633 33,066 Add: Dividends paid-common stock outstanding 7,447 7,059 29,953 29,806 Numerator for basic earnings per share $ 39,319 $ 77,175 $ 265,586 $ 62,872 Add: Additional undistributed earnings due to dilutive stock options 1 1 5 1 Numerator for diluted earnings per share $ 39,320 $ 77,176 $ 265,591 $ 62,873 Denominator: Denominator for basic earnings per share: Weighted average shares outstanding 4,961 5,060 4,966 5,176 Add: Effect of dilutive stock options 16 12 14 16 Denominator for diluted earnings per share 4,977 5,072 4,980 5,192 Graham Holdings Company Common Stockholders: Basic earnings per share $ 7.93 $ 15.25 $ 53.49 $ 12.15 Diluted earnings per share $ 7.90 $ 15.22 $ 53.33 $ 12.11 Diluted 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) 2021 2020 2021 2020 Weighted average restricted stock 14 12 11 11 The diluted earnings per share amounts for the three and nine months ended September 30, 2021 exclude the effects of 104,000 stock options outstanding, as their inclusion would have been antidilutive due to a market condition. The diluted earnings per share amounts for the three and nine months ended September 30, 2020 exclude the effects of 181,258 and 104,000 stock options outstanding, respectively, as their inclusion would have been antidilutive due to a market condition. In the three and nine months ended September 30, 2021, the Company declared regular dividends totaling $1.51 and $6.04 per common share, respectively. In the three and nine months ended September 30, 2020, the Company declared regular dividends totaling $1.45 and $5.80 per common share, respectively.

Pension and Postretirement Plan

Pension and Postretirement Plans	9 Months Ended
Pension and Postretirement Plans	Sep. 30, 2021
Retirement Benefits, Description [Abstract]
Pension and Postretirement Plans	PENSION AND POSTRETIREMENT PLANS Defined Benefit Plans. The total benefit arising from the Company’s defined benefit pension plans consists of the following components: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Service cost $ 5,775 $ 5,457 $ 17,254 $ 17,044 Interest cost 6,754 8,139 20,162 24,448 Expected return on assets (34,800) (28,347) (103,078) (85,081) Amortization of prior service cost 711 708 2,134 2,123 Recognized actuarial gain (1,671) — (6,234) — Net Periodic Benefit (23,231) (14,043) (69,762) (41,466) Special separation benefit expense — 7,783 1,118 13,797 Total Benefit $ (23,231) $ (6,260) $ (68,644) $ (27,669) In the second quarter of 2021, the Company recorded $1.1 million in expenses related to a Separation Incentive Program (SIP) for certain Dekko employees, which will be funded from the assets of the Company’s pension plan. In the third quarter of 2020, the Company recorded $7.8 million in expenses related to a SIP for certain Kaplan employees, which was funded from the assets of the Company’s pension plan. In the second quarter of 2020, the Company recorded $6.0 million in expenses related to a SIP for certain Kaplan, Code3 and Decile employees, which was funded from the assets of the Company’s pension plan. The total cost arising from the Company’s Supplemental Executive Retirement Plan (SERP) consists of the following components: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Service cost $ 256 $ 238 $ 767 $ 715 Interest cost 736 920 2,207 2,759 Amortization of prior service cost 83 83 248 248 Recognized actuarial loss 1,482 1,316 4,447 3,950 Net Periodic Cost $ 2,557 $ 2,557 $ 7,669 $ 7,672 Defined Benefit Plan Assets. The Company’s defined benefit pension obligations are funded by a portfolio made up of a private investment fund, a U.S. stock index fund, and 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 plans were allocated as follows: As of September 30, December 31, U.S. equities 60 % 58 % Private investment fund 18 % 18 % U.S. stock index fund 9 % 9 % International equities 9 % 8 % U.S. fixed income 4 % 7 % 100 % 100 % The Company manages approximately 40% of the pension assets internally, of which the majority is invested in a private investment fund with the remaining investments in Berkshire Hathaway stock, a U.S. stock index fund and short-term fixed-income securities. The remaining 60% of plan assets are 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 investment 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. One investment manager cannot invest more than 15% of the assets at the time of purchase in the stock of Alphabet and Berkshire Hathaway, and no more than 30% of the assets it manages in specified international exchanges at the time the investment is made. The other investment manager cannot invest more than 20% of the assets at the time of purchase in the stock of Berkshire Hathaway, and no more than 15% of the assets it manages 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. Excluding the exceptions noted above, the investment managers cannot invest 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 from the Plan administrator. 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, 2021. 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, 2021, the pension plan held investments in one common stock and one private investment fund that exceeded 10% of total plan assets, valued at $967.0 million, or approximately 30% of total plan assets. At December 31, 2020, the pension plan held investments in one common stock and one private investment fund that exceeded 10% of total plan assets, valued at $850.6 million, or approximately 30% 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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Interest cost $ 23 $ 41 $ 69 $ 125 Amortization of prior service credit (1) (120) (5) (361) Recognized actuarial gain (877) (1,012) (2,632) (3,036) Net Periodic Benefit $ (855) $ (1,091) $ (2,568) $ (3,272)

Other Non-Operating Income

Other Non-Operating Income	9 Months Ended
Other Non-Operating Income	Sep. 30, 2021
Other Nonoperating Income (Expense) [Abstract]
Other Non-Operating Income	OTHER NON-OPERATING INCOME A summary of non-operating income is as follows: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Gain on cost method investments $ — $ 1,638 $ 10,506 $ 4,209 Gain on sale of cost method investments — 521 6,793 1,039 Gain on sale of businesses 1,303 755 2,749 2,515 Foreign currency (loss) gain, net (6) (2,343) 674 877 Gain on acquiring a controlling interest in an equity affiliate — — — 3,708 Impairment of cost method investments — — — (2,577) Gain on sale of equity affiliates — — — 1,370 Other gain (loss), net 3,921 (349) 6,938 (131) Total Other Non-Operating Income $ 5,218 $ 222 $ 27,660 $ 11,010 The gains on cost method investments result from observable price changes in the fair value of the underlying equity securities accounted for under the cost method (see Notes 3 and 8). During the three and nine months ended September 30, 2021, the Company recorded contingent consideration gains of $1.3 million and $2.8 million, respectively, related to the disposition of Kaplan University (KU) in 2018. During the three and nine months ended September 30, 2020, the Company recorded contingent consideration gains of $0.8 million and $2.5 million, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The other comprehensive (loss) income consists of the following components: Three Months Ended September 30 2021 2020 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 $ (16,033) $ — $ (16,033) $ 20,430 $ — $ 20,430 Pension and other postretirement plans: Amortization of net prior service cost included in net income 793 (188) 605 671 (180) 491 Amortization of net actuarial (gain) loss included in net income (1,066) 238 (828) 304 (83) 221 (273) 50 (223) 975 (263) 712 Cash flow hedges: Gain for the period 169 (39) 130 157 (36) 121 Other Comprehensive (Loss) Income $ (16,137) $ 11 $ (16,126) $ 21,562 $ (299) $ 21,263 Nine Months Ended September 30 2021 2020 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 $ (15,352) $ — $ (15,352) $ (541) $ — $ (541) Pension and other postretirement plans: Amortization of net prior service cost included in net income 2,377 (615) 1,762 2,010 (542) 1,468 Amortization of net actuarial (gain) loss included in net income (4,419) 1,143 (3,276) 914 (247) 667 (2,042) 528 (1,514) 2,924 (789) 2,135 Cash flow hedges: Gain (loss) for the period 803 (186) 617 (1,564) 358 (1,206) Other Comprehensive (Loss) Income $ (16,591) $ 342 $ (16,249) $ 819 $ (431) $ 388 The accumulated balances related to each component of other comprehensive income (loss) are as follows: (in thousands, net of taxes) Cumulative Unrealized Gain Cash Flow Accumulated Balance as of December 31, 2020 $ 9,754 $ 595,287 $ (1,727) $ 603,314 Other comprehensive (loss) income before reclassifications (15,352) — 161 (15,191) Net amount reclassified from accumulated other comprehensive income (loss) — (1,514) 456 (1,058) Other comprehensive (loss) income, net of tax (15,352) (1,514) 617 (16,249) Balance as of September 30, 2021 $ (5,598) $ 593,773 $ (1,110) $ 587,065 The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income (Loss) are as follows: Three Months Ended Nine Months Ended Affected Line Item in the Condensed Consolidated Statements of Operations (in thousands) 2021 2020 2021 2020 Pension and Other Postretirement Plans: Amortization of net prior service cost $ 793 $ 671 $ 2,377 $ 2,010 (1) Amortization of net actuarial (gain) loss (1,066) 304 (4,419) 914 (1) (273) 975 (2,042) 2,924 Before tax 50 (263) 528 (789) (Benefit from) Provision for Income Taxes (223) 712 (1,514) 2,135 Net of Tax Cash Flow Hedges 149 166 456 313 Interest expense — — — 13 (Benefit from) Provision for Income Taxes 149 166 456 326 Net of Tax Total reclassification for the period $ (74) $ 878 $ (1,058) $ 2,461 Net of Tax ____________ (1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 12) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.

Contingencies

Contingencies	9 Months Ended
Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES Litigation, Legal and Other Matters . The Company and its subsidiaries are subject to complaints and administrative proceedings and are defendants in various civil lawsuits that have arisen in the ordinary course of their businesses, including contract disputes; actions alleging negligence, libel, defamation and invasion of privacy; trademark, copyright and patent infringement; violations of employment laws and applicable wage and hour laws; and statutory or common law claims involving current and former students and employees. 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. However, based on currently available information, management believes it is reasonably possible that future losses from existing and threatened legal, regulatory and other proceedings in excess of the amounts recorded could reach approximately $15 million. In 2015, Kaplan sold substantially all of the assets of the Kaplan Higher Education Campuses (KHEC) business to Education Corporation of America. In 2018, certain subsidiaries of Kaplan contributed the institutional assets and operations of KU to a new university: an Indiana nonprofit, public-benefit corporation affiliated with Purdue University, known as Purdue University Global. Kaplan could be held liable to the current owners of KU and the KHEC schools related to the pre-sale conduct of the schools, and the pre-sale conduct of the schools has been and could be the subject of future compliance reviews, regulatory proceedings or lawsuits that could result in monetary liabilities or fines or other sanctions. In May 2021, Kaplan received a Notice from the U.S. Department of Education (ED) that the department would be requiring a fact-finding process pursuant to the borrower defense to repayment regulations to determine the validity of more than 800 borrower defense to repayment claims and a request for documents related to several of Kaplan’s previously-owned schools. In July 2021, Kaplan received information requests from the ED related to over 1,400 student claims for the ED to grant debt relief. If the ED grants any student claims, it is possible that the ED would seek reimbursement from Kaplan. Based on Kaplan’s review of the information received from the ED, Kaplan believes it has legal claims that would bar any student discharge or school liability and expects to vigorously defend any attempt by the ED to hold Kaplan liable for any ultimate student discharges. At this time, Kaplan is uncertain as to the total number of possible claims or the amount of potential liability. In June 2021, the Committee for Private Education (CPE) in Singapore instructed Kaplan Singapore to cease new enrollments for three marketing diploma programs due to non-compliance with minimum entry level requirements for admission and to teach out existing students in these programs. On August 23, 2021, CPE issued the same instructions in respect of the Kaplan Foundation diploma and four information technology diploma programs. In September 2021, CPE requested additional information related to admissions on a number of other awards. Kaplan Singapore has responded, and no additional instruction has been received from CPE to date. The impact from possible regulatory actions by the CPE could have a material adverse impact on Kaplan Singapore’s revenues, operating results and cash flows in the future.

Business Segments

Business Segments	9 Months Ended
Business Segments	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS To meet the quantitative threshold related to revenue required for separate disclosure, the Company changed the presentation of its segments in the third quarter of 2021 into the following seven reportable segments: Kaplan International, Kaplan Higher Education, Kaplan Supplemental Education, Television Broadcasting, Manufacturing, Healthcare and Automotive. Segment operating results have been restated to reflect this change. Restructuring related costs across all businesses in 2020 were recorded as follows: Three Months Ended September 30, 2020 (in thousands) Kaplan International Higher Education Supplemental Education Kaplan Corporate Total Education Other Businesses Total Severance (1) $ 959 $ — $ 913 $ — $ 1,872 $ — $ 1,872 Impairment of other long-lived assets: Lease right-of-use assets — — 1,710 — 1,710 — 1,710 Property, plant and equipment — — 206 — 206 — 206 Non-operating pension and postretirement benefit income, net — 802 6,287 694 7,783 — 7,783 Total Restructuring Related Costs $ 959 $ 802 $ 9,116 $ 694 $ 11,571 $ — $ 11,571 Nine Months Ended September 30, 2020 (in thousands) Kaplan International Higher Education Supplemental Education Kaplan Corporate Total Education Other Businesses Total Severance $ 2,183 $ — $ 913 $ — $ 3,096 $ — $ 3,096 Facility related costs: Operating lease cost 2,418 3,442 3,296 — 9,156 — 9,156 Accelerated depreciation of property, plant and equipment 1,472 95 1,801 — 3,368 — 3,368 Total Restructuring Costs Included in Segment Income (Loss) from Operations (1) $ 6,073 $ 3,537 $ 6,010 $ — $ 15,620 $ — $ 15,620 Impairment of other long-lived assets: Lease right-of-use assets 3,790 2,062 3,908 — 9,760 1,405 11,165 Property, plant and equipment 1,199 174 803 — 2,176 86 2,262 Non-operating pension and postretirement benefit income, net 1,100 2,233 8,582 883 12,798 999 13,797 Total Restructuring Related Costs $ 12,162 $ 8,006 $ 19,303 $ 883 $ 40,354 $ 2,490 $ 42,844 ____________ (1) These amounts are included in the segments’ Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets. In June 2020, CRG made the decision to close its restaurant and entertainment venue in Columbia, MD effective July 19, 2020 and recorded accelerated depreciation of property, plant and equipment totaling $2.8 million and $5.7 million for the three and nine months ended September 30, 2020, respectively. The following tables summarize the financial information related to each of the Company’s business segments: Three months ended Nine months ended September 30 September 30 (in thousands) 2021 2020 2021 2020 Operating Revenues Education $ 335,999 $ 302,467 $ 1,005,300 $ 992,020 Television broadcasting 126,498 133,828 360,089 350,038 Manufacturing 99,766 106,690 356,849 303,387 Healthcare 55,445 51,426 160,184 146,601 Automotive 84,702 76,790 242,702 182,288 Other businesses 107,539 46,306 199,477 128,953 Corporate office — — — — Intersegment elimination (513) (525) (1,558) (1,177) $ 809,436 $ 716,982 $ 2,323,043 $ 2,102,110 Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets Education $ 13,869 $ 9,584 $ 57,238 $ 45,022 Television broadcasting 41,911 54,105 113,212 116,229 Manufacturing (6,942) 11,838 27,990 30,982 Healthcare 6,016 8,965 23,312 23,569 Automotive 4,506 1,986 8,815 69 Other businesses (19,752) (17,429) (57,533) (54,864) Corporate office (13,481) (12,739) (42,831) (34,331) $ 26,127 $ 56,310 $ 130,203 $ 126,676 Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets Education $ 3,955 $ 6,251 $ 15,240 $ 24,743 Television broadcasting 1,361 1,360 4,081 4,081 Manufacturing 32,541 6,987 46,138 21,112 Healthcare 756 823 2,317 3,440 Automotive — — — 6,698 Other businesses 4,121 645 7,599 12,396 Corporate office — — — — $ 42,734 $ 16,066 $ 75,375 $ 72,470 Income (Loss) from Operations Education $ 9,914 $ 3,333 $ 41,998 $ 20,279 Television broadcasting 40,550 52,745 109,131 112,148 Manufacturing (39,483) 4,851 (18,148) 9,870 Healthcare 5,260 8,142 20,995 20,129 Automotive 4,506 1,986 8,815 (6,629) Other businesses (23,873) (18,074) (65,132) (67,260) Corporate office (13,481) (12,739) (42,831) (34,331) $ (16,607) $ 40,244 $ 54,828 $ 54,206 Equity in Earnings of Affiliates, Net 12,964 4,092 28,168 3,727 Interest Expense, Net (9,422) (6,357) (22,457) (19,307) Non-Operating Pension and Postretirement Benefit Income, Net 27,561 10,489 81,564 41,028 Gain (Loss) on Marketable Equity Securities, Net 14,069 59,364 176,981 (1,139) Other Income, Net 5,218 222 27,660 11,010 Income Before Income Taxes $ 33,783 $ 108,054 $ 346,744 $ 89,525 Depreciation of Property, Plant and Equipment Education $ 8,217 $ 6,822 $ 23,479 $ 24,475 Television broadcasting 3,462 3,399 10,478 10,188 Manufacturing 2,402 2,557 7,346 7,610 Healthcare 322 318 970 1,351 Automotive 535 619 1,555 1,735 Other businesses 3,649 4,589 7,578 12,211 Corporate office 154 177 480 528 $ 18,741 $ 18,481 $ 51,886 $ 58,098 Three months ended Nine months ended September 30 September 30 (in thousands) 2021 2020 2021 2020 Pension Service Cost Education $ 2,339 $ 2,350 $ 7,020 $ 7,527 Television broadcasting 901 817 2,692 2,449 Manufacturing 321 318 962 1,107 Healthcare 141 136 421 407 Automotive — — — — Other businesses 458 410 1,314 1,276 Corporate office 1,615 1,426 4,845 4,278 $ 5,775 $ 5,457 $ 17,254 $ 17,044 Asset information for the Company’s business segments is as follows: As of (in thousands) September 30, 2021 December 31, 2020 Identifiable Assets Education $ 1,975,302 $ 1,975,104 Television broadcasting 441,098 453,988 Manufacturing 486,241 551,611 Healthcare 163,286 160,654 Automotive 160,025 151,789 Other businesses 660,385 365,744 Corporate office 84,196 348,045 $ 3,970,533 $ 4,006,935 Investments in Marketable Equity Securities 764,831 573,102 Investments in Affiliates 171,249 155,777 Prepaid Pension Cost 1,772,859 1,708,305 Total Assets $ 6,679,472 $ 6,444,119 The Company’s education division comprises the following operating segments: Three Months Ended Nine months ended September 30 September 30 (in thousands) 2021 2020 2021 2020 Operating Revenues Kaplan international $ 168,143 $ 123,768 $ 521,314 $ 488,096 Higher education 85,518 83,841 239,944 243,831 Supplemental education 80,489 92,568 238,055 253,641 Kaplan corporate and other 3,761 3,194 10,739 9,438 Intersegment elimination (1,912) (904) (4,752) (2,986) $ 335,999 $ 302,467 $ 1,005,300 $ 992,020 Income (Loss) From Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets Kaplan international $ (999) $ (13,759) $ 23,285 $ 21,256 Higher education 9,525 6,853 18,152 21,883 Supplemental education 11,769 19,069 33,079 12,849 Kaplan corporate and other (6,426) (2,579) (17,375) (10,971) Intersegment elimination — — 97 5 $ 13,869 $ 9,584 $ 57,238 $ 45,022 Amortization of Intangible Assets $ 3,888 $ 4,335 $ 11,967 $ 12,807 Impairment of Long-Lived Assets $ 67 $ 1,916 $ 3,273 $ 11,936 Income (Loss) from Operations Kaplan international $ (999) $ (13,759) $ 23,285 $ 21,256 Higher education 9,525 6,853 18,152 21,883 Supplemental education 11,769 19,069 33,079 12,849 Kaplan corporate and other (10,381) (8,830) (32,615) (35,714) Intersegment elimination — — 97 5 $ 9,914 $ 3,333 $ 41,998 $ 20,279 Depreciation of Property, Plant and Equipment Kaplan international $ 5,516 $ 4,585 $ 15,603 $ 14,782 Higher education 923 682 2,648 2,237 Supplemental education 1,658 1,454 4,904 7,165 Kaplan corporate and other 120 101 324 291 $ 8,217 $ 6,822 $ 23,479 $ 24,475 Pension Service Cost Kaplan international $ 73 $ 102 $ 221 $ 334 Higher education 1,109 973 3,329 3,113 Supplemental education 954 986 2,861 3,155 Kaplan corporate and other 203 289 609 925 $ 2,339 $ 2,350 $ 7,020 $ 7,527 Asset information for the Company’s education division is as follows: As of (in thousands) September 30, 2021 December 31, 2020 Identifiable Assets Kaplan international $ 1,445,125 $ 1,455,722 Higher education 207,834 187,123 Supplemental education 263,169 274,687 Kaplan corporate and other 59,174 57,572 $ 1,975,302 $ 1,975,104

Organization, Basis of Presen_2

Organization, Basis of Presentation And Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2021
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, 2021 and 2020 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, 2020. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.
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.

Acquisitions and Dispositions_2

Acquisitions and Dispositions of Businesses (Tables)	9 Months Ended
Acquisitions and Dispositions of Businesses (Tables)	Sep. 30, 2021
Acquisitions And Dispositions [Abstract]
Schedule of assets acquired and liabilities assumed	The aggregate purchase price of the 2021 and 2020 acquisitions was allocated as follows (2021 on a preliminary basis), based on acquisition date fair values to the following assets and liabilities: Purchase Price Allocation Nine Months Ended Year Ended (in thousands) September 30, 2021 December 31, 2020 Accounts receivable $ 16,080 $ 745 Inventory 777 3,496 Property, plant and equipment 6,019 3,346 Lease right-of-use assets 7,744 6,580 Goodwill 167,334 73,951 Amortized intangible assets 88,000 14,589 Other assets 4,507 975 Deferred income taxes 40,850 15,958 Other liabilities (49,823) (14,917) Current and noncurrent lease liabilities (7,742) (6,593) Redeemable noncontrolling interest — (6,005) Aggregate purchase price, net of cash acquired $ 273,746 $ 92,125
Acquisition Pro Forma Financial Information	The following unaudited pro forma financial information presents the Company’s results as if the current year acquisitions had occurred at the beginning of 2020. The unaudited pro forma information also includes the 2020 acquisitions as if they occurred at the beginning of 2019: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Operating revenues $ 809,810 $ 780,302 $ 2,416,109 $ 2,255,760 Net income 40,066 75,328 257,887 38,627

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Sep. 30, 2021
Investments [Abstract]
Investments in Marketable Equity Securities	Investments in marketable equity securities consist of the following: As of September 30, December 31, (in thousands) Total cost $ 275,825 $ 232,847 Gross unrealized gains 489,191 340,255 Gross unrealized losses (185) — Total Fair Value $ 764,831 $ 573,102
Gain (Loss) on Marketable Equity Securities	The net gain (loss) on marketable equity securities comprised the following: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Gain (loss) on marketable equity securities, net $ 14,069 $ 59,364 $ 176,981 $ (1,139) Less: Net losses (gains) in earnings from marketable equity securities sold and donated 411 — (7,750) 13,382 Net unrealized gains in earnings from marketable equity securities still held at the end of the period $ 14,480 $ 59,364 $ 169,231 $ 12,243

Accounts Receivable, Accounts_2

Accounts Receivable, Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Accounts Receivable Accounts Payable And Accrued Liabilities [Abstract]
Schedule of Accounts Receivable	Accounts receivable consist of the following: As of September 30, December 31, (in thousands) Receivables from contracts with customers, less estimated credit losses of $21,866 and $21,494 $ 550,853 $ 519,577 Other receivables 27,739 17,579 $ 578,592 $ 537,156
Schedule of Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities consist of the following: As of September 30, December 31, (in thousands) Accounts payable $ 105,143 $ 106,215 Accrued compensation and related benefits 160,062 135,493 Other accrued liabilities 241,433 278,528 $ 506,638 $ 520,236

Inventories, Contracts in Pro_2

Inventories, Contracts in Progress and Vehicle Floor Plan Payable (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory, Net of Allowances, Customer Advances and Progress Billings [Abstract]
Schedule of Inventories and Contracts in Progress	Inventories and contracts in progress consist of the following: As of September 30, December 31, (in thousands) Raw materials $ 43,045 $ 45,382 Work-in-process 10,873 10,402 Finished goods 45,311 64,061 Contracts in progress 1,029 777 $ 100,258 $ 120,622

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	Sep. 30, 2021
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill, by segment, were as follows: (in thousands) Education Television Manufacturing Healthcare Automotive Other Total Balance as of December 31, 2020 Goodwill $ 1,183,379 $ 190,815 $ 234,993 $ 98,421 $ 39,121 $ 91,351 $ 1,838,080 Accumulated impairment losses (331,151) — (7,616) — — (14,563) (353,330) 852,228 190,815 227,377 98,421 39,121 76,788 1,484,750 Acquisitions — — — — — 167,334 167,334 Impairment — — (26,686) — — — (26,686) Foreign currency exchange rate changes (13,055) — — — — — (13,055) Balance as of September 30, 2021 Goodwill 1,170,324 190,815 234,993 98,421 39,121 258,685 1,992,359 Accumulated impairment losses (331,151) — (34,302) — — (14,563) (380,016) $ 839,173 $ 190,815 $ 200,691 $ 98,421 $ 39,121 $ 244,122 $ 1,612,343
Other Intangible Assets	Other intangible assets consist of the following: As of September 30, 2021 As of December 31, 2020 (in thousands) Useful Life Gross Accumulated Net Carrying Gross Accumulated Net Amortized Intangible Assets Student and customer relationships 2–10 years $ 323,569 $ 201,297 $ 122,272 $ 294,077 $ 178,075 $ 116,002 Trade names and trademarks 2–10 years 160,411 65,551 94,860 109,809 54,766 55,043 Network affiliation agreements 10 years 17,400 8,193 9,207 17,400 6,888 10,512 Databases and technology 3–6 years 36,550 24,709 11,841 34,864 19,924 14,940 Noncompete agreements 2–5 years 1,000 990 10 1,000 937 63 Other 1–8 years 29,800 19,744 10,056 24,800 16,714 8,086 $ 568,730 $ 320,484 $ 248,246 $ 481,950 $ 277,304 $ 204,646 Indefinite-Lived Intangible Assets Trade names and trademarks $ 87,085 $ 87,429 Franchise agreements 21,858 21,858 FCC licenses 11,000 11,000 Licensure and accreditation 150 150 $ 120,093 $ 120,437
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) Kaplan Higher Supplemental Education Total Balance as of December 31, 2020 Goodwill $ 634,749 $ 174,564 $ 374,066 $ 1,183,379 Accumulated impairment losses — (111,324) (219,827) (331,151) 634,749 63,240 154,239 852,228 Foreign currency exchange rate changes (13,065) — 10 (13,055) Balance as of September 30, 2021 Goodwill 621,684 174,564 374,076 1,170,324 Accumulated impairment losses — (111,324) (219,827) (331,151) $ 621,684 $ 63,240 $ 154,249 $ 839,173

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2021
Debt Disclosure [Abstract]
Components of Debt	The Company’s borrowings consist of the following: As of September 30, December 31, (in thousands) 5.75% unsecured notes due June 1, 2026 (1) $ 396,649 $ 396,112 Revolving credit facility 122,251 74,686 Commercial note 23,000 25,250 Pinnacle Bank term loan 9,840 10,692 Pinnacle Bank line of credit — 2,295 Other indebtedness 4,149 3,520 Total Debt $ 555,889 $ 512,555 Less: current portion (44,254) (6,452) Total Long-Term Debt $ 511,635 $ 506,103 ___________ _ (1) The carrying value is net of $3.4 million and $3.9 million of unamortized debt issuance costs as of September 30, 2021 and December 31, 2020, respectively .

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2021
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, 2021 (in thousands) Level 1 Level 2 Level 3 Total Assets Marketable equity securities (1) $ 764,831 $ — $ — $ 764,831 Other current investments (2) 7,184 7,058 — 14,242 Total Financial Assets $ 772,015 $ 7,058 $ — $ 779,073 Liabilities Deferred compensation plan liabilities (3) $ — $ 29,950 $ — $ 29,950 Contingent consideration liabilities (4) — — 12,895 12,895 Interest rate swap (5) — 1,534 — 1,534 Mandatorily redeemable noncontrolling interest (6) — — 11,921 11,921 Total Financial Liabilities $ — $ 31,484 $ 24,816 $ 56,300 As of December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets Money market investments (7) $ — $ 268,841 $ — $ 268,841 Marketable equity securities (1) 573,102 — — 573,102 Other current investments (2) 10,397 4,083 — 14,480 Total Financial Assets $ 583,499 $ 272,924 $ — $ 856,423 Liabilities Deferred compensation plan liabilities (3) $ — $ 31,178 $ — $ 31,178 Contingent consideration liabilities (4) — — 37,174 37,174 Interest rate swap (5) — 2,342 — 2,342 Foreign exchange swap (8) — 259 — 259 Mandatorily redeemable noncontrolling interest (6) — — 9,240 9,240 Total Financial Liabilities $ — $ 33,779 $ 46,414 $ 80,193 ____________ (1) The Company’s investments in marketable equity securities are held in common shares of U.S. and Canadian corporations that are actively traded on U.S. and Canadian stock exchanges. Price quotes for these shares are readily available. (2) Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits. These investments are valued using a market approach based on the quoted market prices of the security or inputs that include quoted market prices for similar instruments and are classified as either Level 1 or Level 2 in the fair value hierarchy. (3) 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. (4) Included in Accounts payable and accrued liabilities and Other Liabilities. The Company determined the fair value of the contingent consideration liabilities using either a Monte Carlo simulation or probability-weighted analysis depending on the type of target included in the contingent consideration requirements (revenue, EBITDA, client retention). All analyses included estimated financial projections for the acquired businesses and acquisition-specific discount rates. (5) 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. (6) The fair value of the mandatorily redeemable noncontrolling interest is based on the fair value of the underlying subsidiaries owned by GHC One, after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined using enterprise value analyses which include an equal weighing between guideline public company and discounted cash flow analyses. (7) The Company’s money market investments are included in cash and cash equivalents and the value considers the liquidity of the counterparty. (8) Included in Accounts payable and accrued liabilities, and valued based on a valuation model that calculates the differential between the contract price and the market-based forward rate.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a reconciliation of changes in the Company’s financial liabilities measured at fair value on a recurring basis, using Level 3 inputs: (in thousands) Contingent consideration liabilities Mandatorily redeemable noncontrolling interest As of December 31, 2020 $ 37,174 $ 9,240 Changes in fair value (1) (5,482) 2,703 Capital contributions — 50 Accretion of value included in net income (1) 1,157 — Settlements or distributions (19,942) (72) Foreign currency exchange rate changes (12) — As of September 30, 2021 $ 12,895 $ 11,921 ____________ (1) Changes in fair value and accretion of value of contingent consideration liabilities are included in Selling, general and administrative expenses and the changes in fair value of mandatorily redeemable noncontrolling interest is included in Interest expense in the Company’s Condensed Consolidated Statements of Operations.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
Revenue from Contracts with Customers (Tables)	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability	The following table presents the change in the Company’s deferred revenue balance: As of September 30, December 31, % (in thousands) Change Deferred revenue $ 376,803 $ 343,322 10
Capitalized Contract Cost	The following table presents changes in the Company’s costs to obtain a contract asset: (in thousands) Balance at Costs associated with new contracts Less: Costs amortized during the period Other Balance 2021 $ 24,363 $ 23,907 $ (33,903) $ 978 $ 15,345

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Earnings Per Share, Basic and Diluted	The following reflects the Company’s net income and share data used in the basic and diluted earnings per share computations using the two-class method: Three Months Ended Nine Months Ended (in thousands, except per share amounts) 2021 2020 2021 2020 Numerator: Numerator for basic earnings per share: Net income attributable to Graham Holdings Company common stockholders $ 39,586 $ 77,615 $ 267,394 $ 63,224 Less: Dividends paid-common stock outstanding and unvested restricted shares (7,496) (7,100) (30,155) (29,970) Undistributed earnings 32,090 70,515 237,239 33,254 Percent allocated to common stockholders 99.32 % 99.43 % 99.32 % 99.43 % 31,872 70,116 235,633 33,066 Add: Dividends paid-common stock outstanding 7,447 7,059 29,953 29,806 Numerator for basic earnings per share $ 39,319 $ 77,175 $ 265,586 $ 62,872 Add: Additional undistributed earnings due to dilutive stock options 1 1 5 1 Numerator for diluted earnings per share $ 39,320 $ 77,176 $ 265,591 $ 62,873 Denominator: Denominator for basic earnings per share: Weighted average shares outstanding 4,961 5,060 4,966 5,176 Add: Effect of dilutive stock options 16 12 14 16 Denominator for diluted earnings per share 4,977 5,072 4,980 5,192 Graham Holdings Company Common Stockholders: Basic earnings per share $ 7.93 $ 15.25 $ 53.49 $ 12.15 Diluted earnings per share $ 7.90 $ 15.22 $ 53.33 $ 12.11
Antidilutive Weighted Average Restricted Stock and Options	Diluted 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) 2021 2020 2021 2020 Weighted average restricted stock 14 12 11 11

Pension and Postretirement Pl_2

Pension and Postretirement Plans (Tables)	9 Months Ended
Pension and Postretirement Plans (Tables)	Sep. 30, 2021
Defined Benefit Pension Plan [Member]
Schedule of Net Benefit Costs	The total benefit arising from the Company’s defined benefit pension plans consists of the following components: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Service cost $ 5,775 $ 5,457 $ 17,254 $ 17,044 Interest cost 6,754 8,139 20,162 24,448 Expected return on assets (34,800) (28,347) (103,078) (85,081) Amortization of prior service cost 711 708 2,134 2,123 Recognized actuarial gain (1,671) — (6,234) — Net Periodic Benefit (23,231) (14,043) (69,762) (41,466) Special separation benefit expense — 7,783 1,118 13,797 Total Benefit $ (23,231) $ (6,260) $ (68,644) $ (27,669)
Schedule of Allocation of Plan Assets	The assets of the Company’s pension plans were allocated as follows: As of September 30, December 31, U.S. equities 60 % 58 % Private investment fund 18 % 18 % U.S. stock index fund 9 % 9 % International equities 9 % 8 % U.S. fixed income 4 % 7 % 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) consists of the following components: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Service cost $ 256 $ 238 $ 767 $ 715 Interest cost 736 920 2,207 2,759 Amortization of prior service cost 83 83 248 248 Recognized actuarial loss 1,482 1,316 4,447 3,950 Net Periodic Cost $ 2,557 $ 2,557 $ 7,669 $ 7,672
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 Nine Months Ended (in thousands) 2021 2020 2021 2020 Interest cost $ 23 $ 41 $ 69 $ 125 Amortization of prior service credit (1) (120) (5) (361) Recognized actuarial gain (877) (1,012) (2,632) (3,036) Net Periodic Benefit $ (855) $ (1,091) $ (2,568) $ (3,272)

Other Non-Operating Income (Tab

Other Non-Operating Income (Tables)	9 Months Ended
Other Non-Operating Income (Tables)	Sep. 30, 2021
Other Nonoperating Income (Expense) [Abstract]
Summary of other non-operating income	A summary of non-operating income is as follows: Three Months Ended Nine Months Ended (in thousands) 2021 2020 2021 2020 Gain on cost method investments $ — $ 1,638 $ 10,506 $ 4,209 Gain on sale of cost method investments — 521 6,793 1,039 Gain on sale of businesses 1,303 755 2,749 2,515 Foreign currency (loss) gain, net (6) (2,343) 674 877 Gain on acquiring a controlling interest in an equity affiliate — — — 3,708 Impairment of cost method investments — — — (2,577) Gain on sale of equity affiliates — — — 1,370 Other gain (loss), net 3,921 (349) 6,938 (131) Total Other Non-Operating Income $ 5,218 $ 222 $ 27,660 $ 11,010

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of Other Comprehensive Income (Loss)	The other comprehensive (loss) income consists of the following components: Three Months Ended September 30 2021 2020 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 $ (16,033) $ — $ (16,033) $ 20,430 $ — $ 20,430 Pension and other postretirement plans: Amortization of net prior service cost included in net income 793 (188) 605 671 (180) 491 Amortization of net actuarial (gain) loss included in net income (1,066) 238 (828) 304 (83) 221 (273) 50 (223) 975 (263) 712 Cash flow hedges: Gain for the period 169 (39) 130 157 (36) 121 Other Comprehensive (Loss) Income $ (16,137) $ 11 $ (16,126) $ 21,562 $ (299) $ 21,263 Nine Months Ended September 30 2021 2020 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 $ (15,352) $ — $ (15,352) $ (541) $ — $ (541) Pension and other postretirement plans: Amortization of net prior service cost included in net income 2,377 (615) 1,762 2,010 (542) 1,468 Amortization of net actuarial (gain) loss included in net income (4,419) 1,143 (3,276) 914 (247) 667 (2,042) 528 (1,514) 2,924 (789) 2,135 Cash flow hedges: Gain (loss) for the period 803 (186) 617 (1,564) 358 (1,206) Other Comprehensive (Loss) Income $ (16,591) $ 342 $ (16,249) $ 819 $ (431) $ 388
Summary of Changes in Accumulated Other Comprehensive Income (Loss)	The accumulated balances related to each component of other comprehensive income (loss) are as follows: (in thousands, net of taxes) Cumulative Unrealized Gain Cash Flow Accumulated Balance as of December 31, 2020 $ 9,754 $ 595,287 $ (1,727) $ 603,314 Other comprehensive (loss) income before reclassifications (15,352) — 161 (15,191) Net amount reclassified from accumulated other comprehensive income (loss) — (1,514) 456 (1,058) Other comprehensive (loss) income, net of tax (15,352) (1,514) 617 (16,249) Balance as of September 30, 2021 $ (5,598) $ 593,773 $ (1,110) $ 587,065
Summary of Amounts and Line Items of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income (Loss) are as follows: Three Months Ended Nine Months Ended Affected Line Item in the Condensed Consolidated Statements of Operations (in thousands) 2021 2020 2021 2020 Pension and Other Postretirement Plans: Amortization of net prior service cost $ 793 $ 671 $ 2,377 $ 2,010 (1) Amortization of net actuarial (gain) loss (1,066) 304 (4,419) 914 (1) (273) 975 (2,042) 2,924 Before tax 50 (263) 528 (789) (Benefit from) Provision for Income Taxes (223) 712 (1,514) 2,135 Net of Tax Cash Flow Hedges 149 166 456 313 Interest expense — — — 13 (Benefit from) Provision for Income Taxes 149 166 456 326 Net of Tax Total reclassification for the period $ (74) $ 878 $ (1,058) $ 2,461 Net of Tax ____________ (1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 12) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	Sep. 30, 2021
Segment Reporting Information [Line Items]
Schedule of Restructuring and Related Costs	Restructuring related costs across all businesses in 2020 were recorded as follows: Three Months Ended September 30, 2020 (in thousands) Kaplan International Higher Education Supplemental Education Kaplan Corporate Total Education Other Businesses Total Severance (1) $ 959 $ — $ 913 $ — $ 1,872 $ — $ 1,872 Impairment of other long-lived assets: Lease right-of-use assets — — 1,710 — 1,710 — 1,710 Property, plant and equipment — — 206 — 206 — 206 Non-operating pension and postretirement benefit income, net — 802 6,287 694 7,783 — 7,783 Total Restructuring Related Costs $ 959 $ 802 $ 9,116 $ 694 $ 11,571 $ — $ 11,571 Nine Months Ended September 30, 2020 (in thousands) Kaplan International Higher Education Supplemental Education Kaplan Corporate Total Education Other Businesses Total Severance $ 2,183 $ — $ 913 $ — $ 3,096 $ — $ 3,096 Facility related costs: Operating lease cost 2,418 3,442 3,296 — 9,156 — 9,156 Accelerated depreciation of property, plant and equipment 1,472 95 1,801 — 3,368 — 3,368 Total Restructuring Costs Included in Segment Income (Loss) from Operations (1) $ 6,073 $ 3,537 $ 6,010 $ — $ 15,620 $ — $ 15,620 Impairment of other long-lived assets: Lease right-of-use assets 3,790 2,062 3,908 — 9,760 1,405 11,165 Property, plant and equipment 1,199 174 803 — 2,176 86 2,262 Non-operating pension and postretirement benefit income, net 1,100 2,233 8,582 883 12,798 999 13,797 Total Restructuring Related Costs $ 12,162 $ 8,006 $ 19,303 $ 883 $ 40,354 $ 2,490 $ 42,844 ____________ (1) These amounts are included in the segments’ Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets.
Summary of Segment Reporting Information, by Operating Segment	The following tables summarize the financial information related to each of the Company’s business segments: Three months ended Nine months ended September 30 September 30 (in thousands) 2021 2020 2021 2020 Operating Revenues Education $ 335,999 $ 302,467 $ 1,005,300 $ 992,020 Television broadcasting 126,498 133,828 360,089 350,038 Manufacturing 99,766 106,690 356,849 303,387 Healthcare 55,445 51,426 160,184 146,601 Automotive 84,702 76,790 242,702 182,288 Other businesses 107,539 46,306 199,477 128,953 Corporate office — — — — Intersegment elimination (513) (525) (1,558) (1,177) $ 809,436 $ 716,982 $ 2,323,043 $ 2,102,110 Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets Education $ 13,869 $ 9,584 $ 57,238 $ 45,022 Television broadcasting 41,911 54,105 113,212 116,229 Manufacturing (6,942) 11,838 27,990 30,982 Healthcare 6,016 8,965 23,312 23,569 Automotive 4,506 1,986 8,815 69 Other businesses (19,752) (17,429) (57,533) (54,864) Corporate office (13,481) (12,739) (42,831) (34,331) $ 26,127 $ 56,310 $ 130,203 $ 126,676 Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets Education $ 3,955 $ 6,251 $ 15,240 $ 24,743 Television broadcasting 1,361 1,360 4,081 4,081 Manufacturing 32,541 6,987 46,138 21,112 Healthcare 756 823 2,317 3,440 Automotive — — — 6,698 Other businesses 4,121 645 7,599 12,396 Corporate office — — — — $ 42,734 $ 16,066 $ 75,375 $ 72,470 Income (Loss) from Operations Education $ 9,914 $ 3,333 $ 41,998 $ 20,279 Television broadcasting 40,550 52,745 109,131 112,148 Manufacturing (39,483) 4,851 (18,148) 9,870 Healthcare 5,260 8,142 20,995 20,129 Automotive 4,506 1,986 8,815 (6,629) Other businesses (23,873) (18,074) (65,132) (67,260) Corporate office (13,481) (12,739) (42,831) (34,331) $ (16,607) $ 40,244 $ 54,828 $ 54,206 Equity in Earnings of Affiliates, Net 12,964 4,092 28,168 3,727 Interest Expense, Net (9,422) (6,357) (22,457) (19,307) Non-Operating Pension and Postretirement Benefit Income, Net 27,561 10,489 81,564 41,028 Gain (Loss) on Marketable Equity Securities, Net 14,069 59,364 176,981 (1,139) Other Income, Net 5,218 222 27,660 11,010 Income Before Income Taxes $ 33,783 $ 108,054 $ 346,744 $ 89,525 Depreciation of Property, Plant and Equipment Education $ 8,217 $ 6,822 $ 23,479 $ 24,475 Television broadcasting 3,462 3,399 10,478 10,188 Manufacturing 2,402 2,557 7,346 7,610 Healthcare 322 318 970 1,351 Automotive 535 619 1,555 1,735 Other businesses 3,649 4,589 7,578 12,211 Corporate office 154 177 480 528 $ 18,741 $ 18,481 $ 51,886 $ 58,098 Three months ended Nine months ended September 30 September 30 (in thousands) 2021 2020 2021 2020 Pension Service Cost Education $ 2,339 $ 2,350 $ 7,020 $ 7,527 Television broadcasting 901 817 2,692 2,449 Manufacturing 321 318 962 1,107 Healthcare 141 136 421 407 Automotive — — — — Other businesses 458 410 1,314 1,276 Corporate office 1,615 1,426 4,845 4,278 $ 5,775 $ 5,457 $ 17,254 $ 17,044 Asset information for the Company’s business segments is as follows: As of (in thousands) September 30, 2021 December 31, 2020 Identifiable Assets Education $ 1,975,302 $ 1,975,104 Television broadcasting 441,098 453,988 Manufacturing 486,241 551,611 Healthcare 163,286 160,654 Automotive 160,025 151,789 Other businesses 660,385 365,744 Corporate office 84,196 348,045 $ 3,970,533 $ 4,006,935 Investments in Marketable Equity Securities 764,831 573,102 Investments in Affiliates 171,249 155,777 Prepaid Pension Cost 1,772,859 1,708,305 Total Assets $ 6,679,472 $ 6,444,119
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) 2021 2020 2021 2020 Operating Revenues Kaplan international $ 168,143 $ 123,768 $ 521,314 $ 488,096 Higher education 85,518 83,841 239,944 243,831 Supplemental education 80,489 92,568 238,055 253,641 Kaplan corporate and other 3,761 3,194 10,739 9,438 Intersegment elimination (1,912) (904) (4,752) (2,986) $ 335,999 $ 302,467 $ 1,005,300 $ 992,020 Income (Loss) From Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets Kaplan international $ (999) $ (13,759) $ 23,285 $ 21,256 Higher education 9,525 6,853 18,152 21,883 Supplemental education 11,769 19,069 33,079 12,849 Kaplan corporate and other (6,426) (2,579) (17,375) (10,971) Intersegment elimination — — 97 5 $ 13,869 $ 9,584 $ 57,238 $ 45,022 Amortization of Intangible Assets $ 3,888 $ 4,335 $ 11,967 $ 12,807 Impairment of Long-Lived Assets $ 67 $ 1,916 $ 3,273 $ 11,936 Income (Loss) from Operations Kaplan international $ (999) $ (13,759) $ 23,285 $ 21,256 Higher education 9,525 6,853 18,152 21,883 Supplemental education 11,769 19,069 33,079 12,849 Kaplan corporate and other (10,381) (8,830) (32,615) (35,714) Intersegment elimination — — 97 5 $ 9,914 $ 3,333 $ 41,998 $ 20,279 Depreciation of Property, Plant and Equipment Kaplan international $ 5,516 $ 4,585 $ 15,603 $ 14,782 Higher education 923 682 2,648 2,237 Supplemental education 1,658 1,454 4,904 7,165 Kaplan corporate and other 120 101 324 291 $ 8,217 $ 6,822 $ 23,479 $ 24,475 Pension Service Cost Kaplan international $ 73 $ 102 $ 221 $ 334 Higher education 1,109 973 3,329 3,113 Supplemental education 954 986 2,861 3,155 Kaplan corporate and other 203 289 609 925 $ 2,339 $ 2,350 $ 7,020 $ 7,527 Asset information for the Company’s education division is as follows: As of (in thousands) September 30, 2021 December 31, 2020 Identifiable Assets Kaplan international $ 1,445,125 $ 1,455,722 Higher education 207,834 187,123 Supplemental education 263,169 274,687 Kaplan corporate and other 59,174 57,572 $ 1,975,302 $ 1,975,104

Organization, Basis of Presen_3

Organization, Basis of Presentation and Recent Accounting Pronouncements (Organization and Basis of Presentation) (Narrative) (Details)	Sep. 30, 2021televisionStation
Television Broadcasting [Member]
Number of television broadcast stations	7

Acquisitions and Dispositions_3

Acquisitions and Dispositions of Businesses (Acquisitions) (Narrative) (Details) $ in Thousands	Jun. 14, 2021USD ($)	Sep. 30, 2021USD ($)	Mar. 31, 2020business	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)business	May 31, 2020USD ($)
Business Acquisition [Line Items]
Number of businesses acquired \| business						3
Acquisition purchase price						$ 96,800
Purchase Price Net of Cash				$ 272,428	$ 20,080
Business Acquisition, Transaction Costs		$ 1,600		1,600	$ 1,100
Goodwill expected to be deductible for income tax purposes		43,400		43,400		$ 3,200
Revenues of acquired companies since acquisition date		57,500		66,700
Operating loss of acquired companies since acquisition date		(7,200)		(9,100)
Education [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business			2			2
Education [Member] \| Kaplan International [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business			1
Education [Member] \| Supplemental Education [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business			1
Other Businesses [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business						1
Other Businesses [Member] \| Framebridge [Member]
Business Acquisition [Line Items]
Business Combination, Contingent Consideration, Liability							$ 50,600
Percentage of Shares Eligible to be Redeemed							20.00%
Redeemable noncontrolling interest							$ 6,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage							93.40%
Other Businesses [Member] \| Leaf
Business Acquisition [Line Items]
Acquisition purchase price	$ 308,600
Stock Compensation Liabilities Assumed	$ 9,200
Pinnacle Bank Term Loan [Member]
Business Acquisition [Line Items]
Loans Payable to Bank		$ 9,840		$ 9,840		$ 10,692

Acquisitions and Dispositions_4

Acquisitions and Dispositions of Businesses (Dispositions and Other) (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended				9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Change in redemption value of redeemable noncontrolling interest		$ 64	$ 65	$ 761
Purchase of redeemable noncontrolling interest				$ 0
Education [Member] \| Higher Education [Member] \| Kaplan University Transaction [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain related to contingent consideration		$ 1,300			$ 800	$ 2,800	$ 2,500
Hoover Treated Wood Products [Member] \| Manufacturing [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase of redeemable noncontrolling interest	$ 3,500
Ownership percentage by parent		100.00%				100.00%

Acquisitions and Dispositions_5

Acquisitions and Dispositions of Businesses (Assets Acquired and Liabilities Assumed) (Details 1) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 1,612,343	$ 1,484,750
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Accounts receivable	16,080	745
Inventory	777	3,496
Property, plant and equipment	6,019	3,346
Lease right-of-use assets	7,744	6,580
Goodwill	167,334	73,951
Amortized intangible assets	88,000	14,589
Other assets	4,507	975
Deferred income tax asset	40,850	15,958
Other liabilities	(49,823)	(14,917)
Current and noncurrent lease liabilities	(7,742)	(6,593)
Redeemable noncontrolling interest	0	(6,005)
Aggregate purchase price, net of cash acquired	$ 273,746	$ 92,125

Acquisitions and Dispositions_6

Acquisitions and Dispositions of Businesses (Pro Forma Financials) (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Document Fiscal Year Focus			2021
Pro forma operating revenues	$ 809,810	$ 780,302	$ 2,416,109	$ 2,255,760
Pro forma net income	$ 40,066	$ 75,328	$ 257,887	$ 38,627

Investments (Narrative) (Detail

Investments (Narrative) (Details) £ in Millions	3 Months Ended			9 Months Ended
Investments (Narrative) (Details) £ in Millions	Sep. 30, 2021USD ($)investmentshares	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)investment	Sep. 30, 2021USD ($)investmentshares	Sep. 30, 2020USD ($)	Sep. 30, 2021GBP (£)investmentshares	Dec. 31, 2020USD ($)shares
Schedule of Investments [Line Items]
Money Market Investments	$ 0			$ 0			$ 268,800,000
Marketable equity securities	764,831,000			764,831,000			573,102,000
Payments to Acquire Marketable Securities				48,036,000	$ 0
Cumulative realized gain on marketable securities				27,700,000	23,000,000
Proceeds from sales of marketable equity securities				38,308,000	93,775,000
Cumulative undistributed income in investments in affiliates	51,300,000			51,300,000			26,100,000
Equity Method Investment Impairment	$ 6,600,000		$ 3,600,000
Number of Equity Method Investments Impaired \| investment	1		2
Cost method investments	$ 48,500,000			48,500,000			$ 35,700,000
Gain on cost method investments	0	$ 1,638,000		10,506,000	4,209,000
Impairment of cost method investments	$ 0	0		$ 0	2,577,000
Concentration in single marketable equity security [Member]
Schedule of Investments [Line Items]
Number of marketable equity securities greater than 5% of total assets \| investment	0			0		0
Equity Securities [Member] \| Concentration in single marketable equity security [Member] \| Assets, Total [Member]
Schedule of Investments [Line Items]
Minimum percentage of total assets considered as significant concentrations				5.00%
Markel Corporation [Member]
Schedule of Investments [Line Items]
Number of Shares Held in Investment \| shares	44,430			44,430		44,430	28,000
Marketable equity securities	$ 53,100,000			$ 53,100,000			$ 28,900,000
Intersection Holdings [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	12.00%			12.00%		12.00%
Framebridge [Member]
Schedule of Investments [Line Items]
Equity Method Investment Impairment			$ 2,700,000
Graham Healthcare Group [Member]
Schedule of Investments [Line Items]
Revenue from Related Parties	$ 2,800,000	$ 2,400,000		$ 8,000,000	$ 7,100,000
Graham Healthcare Group [Member] \| Residential Home Health Illinois [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	40.00%			40.00%		40.00%
Graham Healthcare Group [Member] \| Residential Hospice Illinois [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	42.50%			42.50%		42.50%
Graham Healthcare Group [Member] \| Residential And Michigan Hospital Joint Venture [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	40.00%			40.00%		40.00%
Graham Healthcare Group [Member] \| Celtic Healthcare Allegheny Health Network Joint Venture [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	40.00%			40.00%		40.00%
KIHL [Member] \| York Joint Venture [Member]
Schedule of Investments [Line Items]
Equity Method Investment, Ownership Percentage	45.00%			45.00%		45.00%
Advances to Affiliate \| £						£ 22
Loan Receivable, Payment Terms				25 years
Loan Receivable Fixed Interest Rate				7.00%

Investments (Investments in Mar

Investments (Investments in Marketable Equity Securities) (Details 1) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Investments [Abstract]
Total Cost	$ 275,825	$ 232,847
Gross unrealized gains	489,191	340,255
Gross unrealized losses	(185)	0
Total Fair Value	$ 764,831	$ 573,102

Investments (Gain (Loss) on Mar

Investments (Gain (Loss) on Marketable Equity Securities) (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments [Abstract]
Gain (loss) on marketable equity securities, net	$ 14,069	$ 59,364	$ 176,981	$ (1,139)
Less: Net losses (gains) in earnings from marketable equity securities sold and donated	411	0	(7,750)	13,382
Net unrealized gains in earnings from marketable equity securities still held at the end of the period	$ 14,480	$ 59,364	$ 169,231	$ 12,243

Accounts Receivable, Accounts_3

Accounts Receivable, Accounts Payable and Accrued Liabilities (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accounts Receivable Accounts Payable And Accrued Liabilities [Abstract]
Credit loss expense	$ 1,700	$ 1,000	$ 4,171	$ 8,229
Cash overdrafts	$ 3,300		$ 3,300		$ 2,100

Accounts Receivable, Accounts_4

Accounts Receivable, Accounts Payable and Accrued Liabilities (Details 1) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract]
Receivable from contracts with customers, less estimated credit losses	$ 550,853	$ 519,577
Other receivables	27,739	17,579
Accounts receivable, net	578,592	537,156
Estimated credit losses	21,866	21,494
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable	105,143	106,215
Accrued compensation and related benefits	160,062	135,493
Other accrued liabilities	241,433	278,528
Total Accounts payable and Accrued liabilities	$ 506,638	$ 520,236

Inventories, Contracts in Pro_3

Inventories, Contracts in Progress and Vehicle Floor Plan Payable (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory, Net of Allowances, Customer Advances and Progress Billings [Abstract]
Raw materials	$ 43,045	$ 45,382
Work-in-process	10,873	10,402
Finished goods	45,311	64,061
Contracts in progress	1,029	777
Inventories and contracts in progress	$ 100,258	$ 120,622

Inventories, Contracts in Pro_4

Inventories, Contracts in Progress and Vehicle Floor Plan Payable (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Inventory [Line Items]
Weighted average interest rate	4.80%	5.00%	4.90%	5.10%
Automotive [Member]
Inventory [Line Items]
Borrowing capacity	$ 50,000,000		$ 50,000,000
Vehicle floor plan payable	10,900,000		10,900,000
Floor plan assistance	$ 700,000	$ 600,000	$ 2,100,000	$ 1,500,000
Automotive [Member] \| Vehicle Floor Plan Facility [Member]
Inventory [Line Items]
Weighted average interest rate	0.90%	1.20%	1.10%	1.90%
London Interbank Offered Rate (LIBOR) [Member] \| Automotive [Member] \| Vehicle Floor Plan Facility [Member]
Inventory [Line Items]
Applicable interest rate margin			1.15%

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Goodwill) (Narrative) (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Goodwill [Line Items]
Number of reportable segments \| segment	7
Impairment of goodwill				$ 26,686
Impairment of goodwill and other long-lived assets	$ 26,753	$ 1,916		31,568	$ 29,828
Manufacturing [Member]
Goodwill [Line Items]
Impairment of goodwill				26,686
Education [Member]
Goodwill [Line Items]
Impairment of goodwill				0
Other Businesses [Member]
Goodwill [Line Items]
Impairment of goodwill				0
Automotive [Member]
Goodwill [Line Items]
Impairment of goodwill				$ 0
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 6,700
Dekko [Member] \| Manufacturing [Member]
Goodwill [Line Items]
Impairment of goodwill	$ 26,700
Clyde's Restaurant Group [Member] \| Other Businesses [Member]
Goodwill [Line Items]
Impairment of goodwill and other intangible assets			$ 9,700

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Other Intangible Assets) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Amortized Intangible Assets [Line Items]
Goodwill and intangible asset impairment charge	$ 26,753	$ 1,916	$ 31,568	$ 29,828
Amortization of Intangible Assets
Amortization of intangible assets	15,981	$ 14,150	43,807	$ 42,642
Estimated amortization of intangible assets, remainder of 2021	16,000		16,000
Estimated amortization of intangible assets, 2022	60,000		60,000
Estimated amortization of intangible assets, 2023	51,000		51,000
Estimated amortization of intangible assets, 2024	40,000		40,000
Estimated amortization of intangible assets, 2025	33,000		33,000
Estimated amortization of intangible assets, after 2025	$ 48,000		$ 48,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill) (Details 1) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,838,080
Accumulated impairment losses, beginning balance	(353,330)
Goodwill, net, beginning balance	1,484,750
Acquisitions	167,334
Impairment	(26,686)
Foreign currency exchange rate changes	(13,055)
Goodwill, ending balance	1,992,359
Accumulated impairment losses, ending balance	(380,016)
Goodwill, net, ending balance	1,612,343
Education [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	1,183,379
Accumulated impairment losses, beginning balance	(331,151)
Goodwill, net, beginning balance	852,228
Acquisitions	0
Impairment	0
Foreign currency exchange rate changes	(13,055)
Goodwill, ending balance	1,170,324
Accumulated impairment losses, ending balance	(331,151)
Goodwill, net, ending balance	839,173
Education [Member] \| Kaplan International [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	634,749
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	634,749
Foreign currency exchange rate changes	(13,065)
Goodwill, ending balance	621,684
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	621,684
Education [Member] \| Higher Education [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	174,564
Accumulated impairment losses, beginning balance	(111,324)
Goodwill, net, beginning balance	63,240
Foreign currency exchange rate changes	0
Goodwill, ending balance	174,564
Accumulated impairment losses, ending balance	(111,324)
Goodwill, net, ending balance	63,240
Education [Member] \| Supplemental Education [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	374,066
Accumulated impairment losses, beginning balance	(219,827)
Goodwill, net, beginning balance	154,239
Foreign currency exchange rate changes	10
Goodwill, ending balance	374,076
Accumulated impairment losses, ending balance	(219,827)
Goodwill, net, ending balance	154,249
Television Broadcasting [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	190,815
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	190,815
Acquisitions	0
Impairment	0
Foreign currency exchange rate changes	0
Goodwill, ending balance	190,815
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	190,815
Manufacturing [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	234,993
Accumulated impairment losses, beginning balance	(7,616)
Goodwill, net, beginning balance	227,377
Acquisitions	0
Impairment	(26,686)
Foreign currency exchange rate changes	0
Goodwill, ending balance	234,993
Accumulated impairment losses, ending balance	(34,302)
Goodwill, net, ending balance	200,691
Healthcare [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	98,421
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	98,421
Acquisitions	0
Impairment	0
Foreign currency exchange rate changes	0
Goodwill, ending balance	98,421
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	98,421
Automotive [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	39,121
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	39,121
Acquisitions	0
Impairment	0
Foreign currency exchange rate changes	0
Goodwill, ending balance	39,121
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	39,121
Other Businesses [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	91,351
Accumulated impairment losses, beginning balance	(14,563)
Goodwill, net, beginning balance	76,788
Acquisitions	167,334
Impairment	0
Foreign currency exchange rate changes	0
Goodwill, ending balance	258,685
Accumulated impairment losses, ending balance	(14,563)
Goodwill, net, ending balance	$ 244,122

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Other Intangible Assets) (Details 2) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Amortized Intangible Assets [Line Items]
Gross Carrying Amount	$ 568,730	$ 481,950
Accumulated Amortization	320,484	277,304
Net Carrying Amount	248,246	204,646
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	120,093	120,437
Trade Names and Trademarks [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	87,085	87,429
Franchise Agreements [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	21,858	21,858
FCC licenses [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	11,000	11,000
Licensure and Accreditation [Member]
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets	150	150
Student and Customer Relationships [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount	323,569	294,077
Accumulated Amortization	201,297	178,075
Net Carrying Amount	$ 122,272	$ 116,002
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
Trade Names and Trademarks [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount	$ 160,411	$ 109,809
Accumulated Amortization	65,551	54,766
Net Carrying Amount	$ 94,860	$ 55,043
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
Network Affiliation Agreements [Member]
Amortized Intangible Assets [Line Items]
Useful Life	10 years	10 years
Gross Carrying Amount	$ 17,400	$ 17,400
Accumulated Amortization	8,193	6,888
Net Carrying Amount	9,207	10,512
Databases and Technology [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount	36,550	34,864
Accumulated Amortization	24,709	19,924
Net Carrying Amount	$ 11,841	$ 14,940
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	6 years	6 years
Non-compete Agreements [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,000	$ 1,000
Accumulated Amortization	990	937
Net Carrying Amount	$ 10	$ 63
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
Other [Member]
Amortized Intangible Assets [Line Items]
Gross Carrying Amount	$ 29,800	$ 24,800
Accumulated Amortization	19,744	16,714
Net Carrying Amount	$ 10,056	$ 8,086
Other [Member] \| Minimum [Member]
Amortized Intangible Assets [Line Items]
Useful Life	1 year	1 year
Other [Member] \| Maximum [Member]
Amortized Intangible Assets [Line Items]
Useful Life	8 years	8 years

Debt (Narrative) (Details)

Debt (Narrative) (Details)		Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021GBP (£)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Average borrowings outstanding			$ 545,900,000	$ 515,100,000	$ 531,300,000	$ 512,800,000
Weighted average interest rate			4.80%	5.00%	4.90%	5.10%
Interest Expense, Net			$ (9,422,000)	$ (6,357,000)	$ (22,457,000)	$ (19,307,000)
Interest expense			9,343,000	7,247,000	25,144,000	22,302,000
Interest income			(79,000)	$ 890,000	2,687,000	$ 2,995,000
5.75% Unsecured Notes due June 1, 2026 [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 3,400,000	$ 3,400,000		$ 3,400,000			$ 3,900,000
Interest rate		5.75%	5.75%		5.75%		5.75%	5.75%
Fair value of debt instrument		$ 417,700,000	$ 417,700,000		$ 417,700,000			$ 421,700,000
Carrying value of debt instrument	[1]	396,649,000	396,649,000		396,649,000			396,112,000
Five-Year Credit Agreement dated May 30, 2018 [Member]
Debt Instrument [Line Items]
Line of credit facility outstanding		122,251,000	122,251,000		122,251,000			74,686,000
USD $200 million portion of revolver [Member]
Debt Instrument [Line Items]
Line of credit facility outstanding		40,000,000	40,000,000		40,000,000
Multicurrency $100 million portion of revolver [Member]
Debt Instrument [Line Items]
Line of credit facility outstanding \| £							£ 61,000,000
Commercial note with Truist Bank [Member]
Debt Instrument [Line Items]
Notes Payable to Bank		23,000,000	23,000,000		23,000,000			25,250,000
Pinnacle Bank Term Loan [Member]
Debt Instrument [Line Items]
Loans Payable to Bank		9,840,000	9,840,000		9,840,000			10,692,000
Pinnacle Bank Line Of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility outstanding		$ 0	$ 0		$ 0			$ 2,295,000
Minimum [Member] \| Other Indebtedness [Member]
Debt Instrument [Line Items]
Interest rate		0.00%	0.00%		0.00%		0.00%	0.00%
Maximum [Member] \| Other Indebtedness [Member]
Debt Instrument [Line Items]
Interest rate		16.00%	16.00%		16.00%		16.00%	16.00%
London Interbank Offered Rate (LIBOR) [Member] \| Five-Year Credit Agreement dated May 30, 2018 [Member]
Debt Instrument [Line Items]
Applicable interest rate margin		1.50%
Securities Subject to Mandatory Redemption [Member] \| Graham Healthcare Group [Member]
Debt Instrument [Line Items]
Interest Expense, Net			$ (2,600,000)		$ (2,700,000)

[1]	The carrying value is net of $3.4 million and $3.9 million of unamortized debt issuance costs as of September 30, 2021 and December 31, 2020, respectively .

Debt (Details 1)

Debt (Details 1) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Other indebtedness		$ 4,149	$ 3,520
Total Debt		555,889	512,555
Less: current portion		(44,254)	(6,452)
Total Long-Term Debt		511,635	506,103
5.75% Unsecured Notes due June 1, 2026 [Member]
Debt Instrument [Line Items]
Unsecured notes	[1]	396,649	396,112
Unamortized debt issuance costs		$ 3,400	$ 3,900
Interest rate		5.75%	5.75%
Five-Year Credit Agreement dated May 30, 2018 [Member]
Debt Instrument [Line Items]
Credit facility		$ 122,251	$ 74,686
Commercial note with Truist Bank [Member]
Debt Instrument [Line Items]
Commercial note		23,000	25,250
Pinnacle Bank Term Loan [Member]
Debt Instrument [Line Items]
Loans Payable to Bank		9,840	10,692
Pinnacle Bank Line Of Credit [Member]
Debt Instrument [Line Items]
Credit facility		$ 0	$ 2,295

[1]	The carrying value is net of $3.4 million and $3.9 million of unamortized debt issuance costs as of September 30, 2021 and December 31, 2020, respectively .

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021USD ($)investment	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)investment	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Fair Value Measurements [Abstract]
Impairment of goodwill and other long-lived assets	$ 26,753	$ 1,916		$ 31,568	$ 29,828
Gain on cost method investments	0	1,638		10,506	4,209
Impairment of cost method investments	0	$ 0		$ 0	$ 2,577
Equity Method Investment Impairment	$ 6,600		$ 3,600
Number of Equity Method Investments Impaired \| investment	1		2

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value of Financial Assets and Liabilities) (Details 1) - USD ($)		Sep. 30, 2021	Dec. 31, 2020
Assets
Money Market Investments		$ 0	$ 268,800,000
Marketable equity securities		764,831,000	573,102,000
Fair Value, Recurring [Member]
Assets
Money Market Investments	[1]		268,841,000
Marketable equity securities	[2]	764,831,000	573,102,000
Other current investments	[3]	14,242,000	14,480,000
Total Financial Assets		779,073,000	856,423,000
Liabilities
Deferred compensation plan liabilities	[4]	29,950,000	31,178,000
Contingent consideration liabilities	[5]	12,895,000	37,174,000
Interest rate swap	[6]	1,534,000	2,342,000
Foreign exchange swap	[7]		259,000
Mandatorily redeemable noncontrolling interest	[8]	11,921,000	9,240,000
Total Financial Liabilities		56,300,000	80,193,000
Level 1 \| Fair Value, Recurring [Member]
Assets
Money Market Investments	[1]		0
Marketable equity securities	[2]	764,831,000	573,102,000
Other current investments	[3]	7,184,000	10,397,000
Total Financial Assets		772,015,000	583,499,000
Liabilities
Deferred compensation plan liabilities	[4]	0	0
Contingent consideration liabilities	[5]	0	0
Interest rate swap	[6]	0	0
Foreign exchange swap	[7]		0
Mandatorily redeemable noncontrolling interest	[8]	0	0
Total Financial Liabilities		0	0
Level 2 \| Fair Value, Recurring [Member]
Assets
Money Market Investments	[1]		268,841,000
Marketable equity securities	[2]	0	0
Other current investments	[3]	7,058,000	4,083,000
Total Financial Assets		7,058,000	272,924,000
Liabilities
Deferred compensation plan liabilities	[4]	29,950,000	31,178,000
Contingent consideration liabilities	[5]	0	0
Interest rate swap	[6]	1,534,000	2,342,000
Foreign exchange swap	[7]		259,000
Mandatorily redeemable noncontrolling interest	[8]	0	0
Total Financial Liabilities		31,484,000	33,779,000
Level 3 \| Fair Value, Recurring [Member]
Assets
Money Market Investments	[1]		0
Marketable equity securities	[2]	0	0
Other current investments	[3]	0	0
Total Financial Assets		0	0
Liabilities
Deferred compensation plan liabilities	[4]	0	0
Contingent consideration liabilities	[5]	12,895,000	37,174,000
Interest rate swap	[6]	0	0
Foreign exchange swap	[7]		0
Mandatorily redeemable noncontrolling interest	[8]	11,921,000	9,240,000
Total Financial Liabilities		$ 24,816,000	$ 46,414,000

[1]	The Company’s money market investments are included in cash and cash equivalents and the value considers the liquidity of the counterparty.
[2]	The Company’s investments in marketable equity securities are held in common shares of U.S. and Canadian corporations that are actively traded on U.S. and Canadian stock exchanges. Price quotes for these shares are readily available.
[3]	Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits. These investments are valued using a market approach based on the quoted market prices of the security or inputs that include quoted market prices for similar instruments and are classified as either Level 1 or Level 2 in the fair value hierarchy.
[4]	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.
[5]	Included in Accounts payable and accrued liabilities and Other Liabilities. The Company determined the fair value of the contingent consideration liabilities using either a Monte Carlo simulation or probability-weighted analysis depending on the type of target included in the contingent consideration requirements (revenue, EBITDA, client retention). All analyses included estimated financial projections for the acquired businesses and acquisition-specific discount rates.
[6]	Included in Other Liabilities. The Company utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.
[7]	Included in Accounts payable and accrued liabilities, and valued based on a valuation model that calculates the differential between the contract price and the market-based forward rate.
[8]	The fair value of the mandatorily redeemable noncontrolling interest is based on the fair value of the underlying subsidiaries owned by GHC One, after taking into account any debt and other noncontrolling interests of its subsidiary investments. The fair value of the owned subsidiaries is determined using enterprise value analyses which include an equal weighing between guideline public company and discounted cash flow analyses.

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Changes in Financial Liabilities Fair Value Using Level 3 Inputs) (Details 2) - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Contingent consideration liabilities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Beginning Balance	$ 37,174
Changes in fair value	(5,482)	[1]
Capital contributions	0
Accretion of value included in net income	1,157	[1]
Settlements or distributions	(19,942)
Foreign currency exchange rate changes	(12)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	12,895
Mandatorily redeemable noncontrolling interest [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Beginning Balance	9,240
Changes in fair value	2,703	[1]
Capital contributions	50
Accretion of value included in net income	0	[1]
Settlements or distributions	(72)
Foreign currency exchange rate changes	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value, Ending Balance	$ 11,921

[1]	Changes in fair value and accretion of value of contingent consideration liabilities are included in Selling, general and administrative expenses and the changes in fair value of mandatorily redeemable noncontrolling interest is included in Interest expense in the Company’s Condensed Consolidated Statements of Operations.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Taxes [Line Items]
Income Taxes Receivable	$ 15,654		$ 29,313
Accounts payable and accrued liabilities	$ 506,638		$ 520,236
Effective Income Tax Rate	22.60%	29.60%
Income Tax Benefit,, Adjustment of Deferred Tax	$ 15,700
CableONE [Member]
Income Taxes [Line Items]
Income Taxes Receivable	15,900
Accounts payable and accrued liabilities	$ 15,900

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Apr. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Deferred revenue recognized in period related to beginning balance					$ 257.4
CARES Act relief from COVID-19 [Member] \| Medicare Accelerated Advanced Payment Program Relief Fund [Member] \| Graham Healthcare Group [Member]
Disaggregation of Revenue [Line Items]
Government Relief, CARES Act	$ 31.5
Deferred revenue recognized		$ 6.6			$ 11.6
CARES Act relief from COVID-19 [Member] \| Provider Relief Fund [Member] \| Graham Healthcare Group [Member]
Disaggregation of Revenue [Line Items]
Government Relief, CARES Act				$ 7.4
Amount of Revenue Recognized From Provider Relief Fund			$ 0.2			$ 5.7
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Percentage of Revenue		66.00%	71.00%		67.00%	73.00%
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Percentage of Revenue		34.00%	29.00%		33.00%	27.00%
U.S. [Member]
Disaggregation of Revenue [Line Items]
Percentage of Revenue		82.00%	83.00%		79.00%	78.00%
Non-US [Member]
Disaggregation of Revenue [Line Items]
Percentage of Revenue		18.00%	17.00%		21.00%	22.00%
Kaplan International [Member]
Disaggregation of Revenue [Line Items]
Contract with Customer, Asset, Net, Noncurrent		$ 13.4			$ 13.4		$ 8.7
Kaplan International [Member] \| Long-term Contract with Customer [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 year			1 year
Supplemental Education [Member] \| Long-term Contract with Customer [Member]
Disaggregation of Revenue [Line Items]
Minimum Term of Contract					12 months
Revenue Remaining Performance Obligation Percentage of Revenue Expected to be Recognized Over Next 12 Months		68.00%			68.00%
Supplemental Education [Member] \| Long-term Contract with Customer [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Disaggregation of Revenue [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		12 months			12 months

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Narrative 2) (Details) - Long-term Contract with Customer [Member] - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 $ in Millions	Sep. 30, 2021USD ($)
Kaplan International [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Supplemental Education [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 9.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Contract Liability) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Deferred Revenue	$ 376,803	$ 343,322
Deferred Revenue, Period Decrease Percentage	10.00%

Revenue from Contracts with C_6

Revenue from Contracts with Customers (Capitalized Contract Cost) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract costs capitalized during the period	$ 23,907
Costs amortized during the period	(33,903)
Change in capitalized contract cost, other	978
Balance of costs to obtain a contract	$ 15,345	$ 24,363

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - $ / shares	3 Months Ended		9 Months Ended
Earnings Per Share (Narrative) (Details) - $ / shares	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared per common share	$ 1.51	$ 1.45	$ 6.04	$ 5.80
Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities, shares	104,000	181,258	104,000	104,000

Earnings Per Share (Details 1)

Earnings Per Share (Details 1) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Earnings Per Share, Basic and Diluted, Including Two Class Method [Line Items]
Net income attributable to Graham Holdings Company common stockholders	$ 39,586	$ 77,615	$ 267,394	$ 63,224
Less: Dividends paid-common stock outstanding and unvested restricted shares	(7,496)	(7,100)	(30,155)	(29,970)
Undistributed earnings	$ 32,090	$ 70,515	$ 237,239	$ 33,254
Percent allocated to common stockholders	99.32%	99.43%	99.32%	99.43%
Undistributed Earnings Allocated To Common Stockholders	$ 31,872	$ 70,116	$ 235,633	$ 33,066
Add: Dividends paid-common stock outstanding	7,447	7,059	29,953	29,806
Numerator for basic earnings per share	39,319	77,175	265,586	62,872
Add: Additional undistributed earnings due to dilutive stock options	1	1	5	1
Numerator for diluted earnings per share	$ 39,320	$ 77,176	$ 265,591	$ 62,873
Weighted average shares outstanding (shares)	4,961	5,060	4,966	5,176
Denominator for diluted earnings per share (shares)	4,977	5,072	4,980	5,192
Graham Holdings Company Common Stockholders:
Basic income per common share (in usd per share)	$ 7.93	$ 15.25	$ 53.49	$ 12.15
Diluted income per common share (in usd per share)	$ 7.90	$ 15.22	$ 53.33	$ 12.11
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)	16	12	14	16

Earnings Per Share (Details 2)

Earnings Per Share (Details 2) - shares shares in Thousands	3 Months Ended		9 Months Ended
Earnings Per Share (Details 2) - shares shares in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive securities, shares	14	12	11	11

Pension and Postretirement Pl_3

Pension and Postretirement Plans (Narrative) (Details) $ in Thousands	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)investmentcountry	Jun. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2021USD ($)investmentcountry	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)investment
Defined Benefit Plan Disclosure [Line Items]
Special separation benefit expense			$ 7,783			$ 13,797
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Special separation benefit expense	$ 0		7,783		$ 1,118	$ 13,797
Percent of plan assets managed internally by the company					40.00%
Percent of plan assets managed by investment companies					60.00%
Number of investment companies actively managing plan assets \| country	2				2
Percentage of total plan assets	100.00%				100.00%		100.00%
Berkshire Hathaway Common Stock [Member] \| Defined Benefit Pension Plan [Member] \| Investment Manager 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator					20.00%
Alphabet and Berkshire Hathaway Common Stock [Member] \| Defined Benefit Pension Plan [Member] \| Investment Manager 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator					15.00%
Foreign Investments [Member] \| Defined Benefit Pension Plan [Member] \| Maximum [Member] \| Investment Manager 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target allocation percentage of assets	30.00%				30.00%
Foreign Investments [Member] \| Defined Benefit Pension Plan [Member] \| Maximum [Member] \| Investment Manager 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target allocation percentage of assets	15.00%				15.00%
Fixed income securities [Member] \| Defined Benefit Pension Plan [Member] \| Minimum [Member] \| Investment Manager 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target allocation percentage of assets	10.00%				10.00%
Private investment fund [Member] \| Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of total plan assets	18.00%				18.00%		18.00%
Single Equity Concentration [Member] \| Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator					10.00%		10.00%
Value of investments	$ 967,000				$ 967,000		$ 850,600
Percentage of total plan assets	30.00%				30.00%		30.00%
Single Equity Concentration [Member] \| Equity Securities [Member] \| Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of investments the company's pension plan held which individually exceed 10% of total plan assets \| investment	1				1		1
Single Equity Concentration [Member] \| Private investment fund [Member] \| Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of investments the company's pension plan held which individually exceed 10% of total plan assets \| investment	1				1		1
Concentration In Single Entity, Type Of Industry, Foreign Country Or Individual Fund [Member] \| Defined Benefit Plan Assets Total [Member] \| Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Minimum percentage of plan assets considered as significant concentrations in pension plans					10.00%
Education [Member] \| Defined Benefit Pension Plan [Member] \| Separation Incentive Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Special separation benefit expense			$ 7,800
Education, Code3 and Decile [Member] \| Defined Benefit Pension Plan [Member] \| Separation Incentive Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Special separation benefit expense				$ 6,000
Dekko [Member] \| Defined Benefit Pension Plan [Member] \| Separation Incentive Program [Member]
Defined Benefit Plan Disclosure [Line Items]
Special separation benefit expense		$ 1,100

Pension and Postretirement Pl_4

Pension and Postretirement Plans (Total Benefit/Cost) (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,775	$ 5,457	$ 17,254	$ 17,044
Special separation benefit expense		7,783		13,797
Net Periodic Cost (Benefit)			(68,644)	(27,669)
Defined Benefit Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	5,775	5,457	17,254	17,044
Interest cost	6,754	8,139	20,162	24,448
Expected return on assets	(34,800)	(28,347)	(103,078)	(85,081)
Amortization of prior service cost (credit)	711	708	2,134	2,123
Recognized actuarial loss (gain)	(1,671)	0	(6,234)	0
Net Periodic Cost (Benefit)	(23,231)	(14,043)	(69,762)	(41,466)
Special separation benefit expense	0	7,783	1,118	13,797
Net Periodic Cost (Benefit)	(23,231)	(6,260)	(68,644)	(27,669)
Supplemental Executive Retirement Plan (SERP) [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	256	238	767	715
Interest cost	736	920	2,207	2,759
Amortization of prior service cost (credit)	83	83	248	248
Recognized actuarial loss (gain)	1,482	1,316	4,447	3,950
Net Periodic Cost (Benefit)	2,557	2,557	7,669	7,672
Other Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	23	41	69	125
Amortization of prior service cost (credit)	(1)	(120)	(5)	(361)
Recognized actuarial loss (gain)	(877)	(1,012)	(2,632)	(3,036)
Net Periodic Cost (Benefit)	$ (855)	$ (1,091)	$ (2,568)	$ (3,272)

Pension and Postretirement Pl_5

Pension and Postretirement Plans (Asset Allocation) (Details 2) - Defined Benefit Pension Plans [Member]	Sep. 30, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	100.00%	100.00%
U.S. equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	60.00%	58.00%
Private investment fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	18.00%	18.00%
U.S. stock index fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	9.00%	9.00%
International equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	9.00%	8.00%
U.S. fixed income [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan Assets Allocation (Percent)	4.00%	7.00%

Other Non-Operating Income (Nar

Other Non-Operating Income (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on acquiring a controlling interest in an equity affiliate	$ 0	$ 0		$ 0	$ 3,708
Gain on cost method investments	0	1,638		10,506	4,209
Gain on sale of cost method investments	0	521		6,793	1,039
Impairment of cost method investments	0	0		0	2,577
Gain on sale of equity affiliates	0	0		0	1,370
Framebridge [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Gain on acquiring a controlling interest in an equity affiliate			$ 3,700
Education [Member] \| Higher Education [Member] \| Kaplan University Transaction [Member]
Schedule of Non-Operating Income (Expense) [Line Items]
Gain related to contingent consideration	$ 1,300	$ 800		$ 2,800	$ 2,500

Other Non-Operating Income (Det

Other Non-Operating Income (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Nonoperating Income (Expense) [Abstract]
Gain on cost method investments	$ 0	$ 1,638	$ 10,506	$ 4,209
Gain on sale of cost method investments	0	521	6,793	1,039
Gain on sale of businesses	1,303	755	2,749	2,515
Foreign currency (loss) gain, net	(6)	(2,343)	674	877
Gain on acquiring a controlling interest in an equity affiliate	0	0	0	3,708
Impairment of cost method investments	0	0	0	(2,577)
Gain on sale of equity affiliates	0	0	0	1,370
Other gain (loss), net	3,921	(349)	6,938	(131)
Total Other Non-Operating Income	$ 5,218	$ 222	$ 27,660	$ 11,010

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Components of OCI) (Details 1) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before tax		$ (16,137)			$ 21,562			$ (16,591)	$ 819
Other Comprehensive Income (Loss), income tax		11			(299)			342	(431)
Other Comprehensive Income (Loss), Net of Tax		(16,126)	$ 1,080	$ (1,203)	21,263	$ 17,068	$ (37,943)	(16,249)	388
Foreign Currency Translation Adjustment [Member]
Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax								(15,352)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax								0
Other Comprehensive Income (Loss), before tax		(16,033)			20,430			(15,352)	(541)
Other Comprehensive Income (Loss), income tax		0			0			0	0
Other Comprehensive Income (Loss), Net of Tax		(16,033)			20,430			(15,352)	(541)
Pension and Other Postretirement Plans [Member]
Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax								0
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		(273)			975			(2,042)	2,924
Reclassification from AOCI, Current Period, Tax		50			(263)			528	(789)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(223)			712			(1,514)	2,135
Other Comprehensive Income (Loss), before tax		(273)			975			(2,042)	2,924
Other Comprehensive Income (Loss), income tax		50			(263)			528	(789)
Other Comprehensive Income (Loss), Net of Tax		(223)			712			(1,514)	2,135
Net Prior Service (Credit) Cost [Member]
Other Comprehensive Income (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[1]	793			671			2,377	2,010
Reclassification from AOCI, Current Period, Tax		(188)			(180)			(615)	(542)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		605			491			1,762	1,468
Net Actuarial Gain [Member]
Other Comprehensive Income (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[1]	(1,066)			304			(4,419)	914
Reclassification from AOCI, Current Period, Tax		238			(83)			1,143	(247)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(828)			221			(3,276)	667
Cash Flow Hedges [Member]
Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax								161
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax								456
Other Comprehensive Income (Loss), before tax		169			157			803	(1,564)
Other Comprehensive Income (Loss), income tax		(39)			(36)			(186)	358
Other Comprehensive Income (Loss), Net of Tax		$ 130			$ 121			$ 617	$ (1,206)

[1]	These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 12) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) (AOCI balances) (Details 2) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
As of	$ 3,975,912	$ 3,864,839	$ 3,766,393	$ 3,213,416	$ 3,212,840	$ 3,326,796	$ 3,766,393	$ 3,326,796
Other Comprehensive (Loss) Income, Net of Tax	(16,126)	1,080	(1,203)	21,263	17,068	(37,943)	(16,249)	388
As of	3,973,738	$ 3,975,912	3,864,839	3,246,658	$ 3,213,416	$ 3,212,840	3,973,738	3,246,658
AOCI Including Portion Attributable to Noncontrolling Interest [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
As of			603,314				603,314
Other comprehensive (loss) income before reclassifications							(15,191)
Net amount reclassified from accumulated other comprehensive income (loss)							(1,058)
Other Comprehensive (Loss) Income, Net of Tax							(16,249)
As of	587,065						587,065
Cumulative Foreign Currency Translation Adjustment [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
As of			9,754				9,754
Other comprehensive (loss) income before reclassifications							(15,352)
Net amount reclassified from accumulated other comprehensive income (loss)							0
Other Comprehensive (Loss) Income, Net of Tax	(16,033)			20,430			(15,352)	(541)
As of	(5,598)						(5,598)
Unrealized Gain on Pensions and Other Postretirement Plans [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
As of			595,287				595,287
Other comprehensive (loss) income before reclassifications							0
Net amount reclassified from accumulated other comprehensive income (loss)	(223)			712			(1,514)	2,135
Other Comprehensive (Loss) Income, Net of Tax	(223)			712			(1,514)	2,135
As of	593,773						593,773
Cash Flow Hedges [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
As of			$ (1,727)				(1,727)
Other comprehensive (loss) income before reclassifications							161
Net amount reclassified from accumulated other comprehensive income (loss)							456
Other Comprehensive (Loss) Income, Net of Tax	130			$ 121			617	$ (1,206)
As of	$ (1,110)						$ (1,110)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) (Reclassifications out of AOCI) (Details 3) - USD ($) $ in Thousands		3 Months Ended						9 Months Ended
		Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense		$ 9,343			$ 7,247			$ 25,144	$ 22,302
(Benefit from) Provision for Income Taxes		(5,900)			30,000			78,500	26,500
Net of Tax		(39,683)	$ (115,926)	$ (112,635)	(78,054)	$ (18,862)	$ 33,891	(268,244)	(63,025)
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net of Tax		(74)			878			(1,058)	2,461
Foreign Currency Translation Adjustment [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, net of tax								0
Pension and Other Postretirement Plans [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax		(273)			975			(2,042)	2,924
Provision for (Benefit from) Income Tax		50			(263)			528	(789)
Reclassifications, net of tax		(223)			712			(1,514)	2,135
Net Prior Service (Credit) Cost [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1]	793			671			2,377	2,010
Provision for (Benefit from) Income Tax		(188)			(180)			(615)	(542)
Reclassifications, net of tax		605			491			1,762	1,468
Net Actuarial Gain [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, before tax	[1]	(1,066)			304			(4,419)	914
Provision for (Benefit from) Income Tax		238			(83)			1,143	(247)
Reclassifications, net of tax		(828)			221			(3,276)	667
Cash Flow Hedges [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Reclassifications, net of tax								456
Cash Flow Hedges [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense		149			166			456	313
(Benefit from) Provision for Income Taxes		0			0			0	13
Net of Tax		$ 149			$ 166			$ 456	$ 326

[1]	These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 12) and are included in non-operating pension and postretirement benefit income in the Company’s Condensed Consolidated Statements of Operations.

Contingencies (Details)

Contingencies (Details) $ in Thousands	1 Months Ended
Contingencies (Details) $ in Thousands	Jul. 31, 2021claim	May 31, 2021claim	Sep. 30, 2021USD ($)claim	Dec. 31, 2020USD ($)
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
Deferred Charges and Other Assets (includes $782 and $0 of restricted cash) \| $			$ 156,912	$ 146,770
Maximum [Member]
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss \| $			$ 15,000
Education [Member] \| Minimum [Member]
Loss Contingencies [Line Items]
Potential claims Per ED		800
Claims received	1,400

Business Segments (Narrative) (

Business Segments (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
Business Segments (Narrative) (Details) $ in Thousands	Sep. 30, 2021segment	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)
Business Segments [Line Items]
Number of reportable segments \| segment	7
Restructuring, Settlement and Impairment Provisions		$ 11,571	$ 42,844
Operating lease cost			9,156
Clyde's Restaurant Group [Member]
Business Segments [Line Items]
Accelerated Depreciation		2,800	5,700
Education [Member] \| Operating Segments [Member]
Business Segments [Line Items]
Restructuring, Settlement and Impairment Provisions		11,571	40,354
Operating lease cost			9,156
Other Businesses [Member] \| Operating Segments [Member]
Business Segments [Line Items]
Restructuring, Settlement and Impairment Provisions		0	2,490
Operating lease cost			0
Kaplan International [Member] \| Reportable Subsegments [Member] \| Education [Member] \| Operating Segments [Member]
Business Segments [Line Items]
Restructuring, Settlement and Impairment Provisions		959	12,162
Operating lease cost			2,418
Higher Education [Member] \| Reportable Subsegments [Member] \| Education [Member] \| Operating Segments [Member]
Business Segments [Line Items]
Restructuring, Settlement and Impairment Provisions		$ 802	8,006
Operating lease cost			$ 3,442

Business Segments (Restructurin

Business Segments (Restructuring) (Details 1) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2020		Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Severance		$ 1,872	[1]	$ 3,096
Operating lease cost				9,156
Accelerated depreciation of property, plant and equipment				3,368
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			15,620
Lease right-of-use assets		1,710		11,165
Property, plant and equipment		206		2,262
Non-operating pensions and postretirement benefit income, net		7,783		13,797
Total Restructuring Related Costs		11,571		42,844
Operating Segments [Member] \| Education [Member]
Restructuring Cost and Reserve [Line Items]
Severance		1,872	[1]	3,096
Operating lease cost				9,156
Accelerated depreciation of property, plant and equipment				3,368
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			15,620
Lease right-of-use assets		1,710		9,760
Property, plant and equipment		206		2,176
Non-operating pensions and postretirement benefit income, net		7,783		12,798
Total Restructuring Related Costs		11,571		40,354
Operating Segments [Member] \| Education [Member] \| Reportable Subsegments [Member] \| Kaplan International [Member]
Restructuring Cost and Reserve [Line Items]
Severance		959	[1]	2,183
Operating lease cost				2,418
Accelerated depreciation of property, plant and equipment				1,472
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			6,073
Lease right-of-use assets		0		3,790
Property, plant and equipment		0		1,199
Non-operating pensions and postretirement benefit income, net		0		1,100
Total Restructuring Related Costs		959		12,162
Operating Segments [Member] \| Education [Member] \| Reportable Subsegments [Member] \| Higher Education [Member]
Restructuring Cost and Reserve [Line Items]
Severance		0	[1]	0
Operating lease cost				3,442
Accelerated depreciation of property, plant and equipment				95
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			3,537
Lease right-of-use assets		0		2,062
Property, plant and equipment		0		174
Non-operating pensions and postretirement benefit income, net		802		2,233
Total Restructuring Related Costs		802		8,006
Operating Segments [Member] \| Education [Member] \| Reportable Subsegments [Member] \| Supplemental Education [Member]
Restructuring Cost and Reserve [Line Items]
Severance		913	[1]	913
Operating lease cost				3,296
Accelerated depreciation of property, plant and equipment				1,801
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			6,010
Lease right-of-use assets		1,710		3,908
Property, plant and equipment		206		803
Non-operating pensions and postretirement benefit income, net		6,287		8,582
Total Restructuring Related Costs		9,116		19,303
Operating Segments [Member] \| Education [Member] \| Kaplan Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Severance		0	[1]	0
Operating lease cost				0
Accelerated depreciation of property, plant and equipment				0
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			0
Lease right-of-use assets		0		0
Property, plant and equipment		0		0
Non-operating pensions and postretirement benefit income, net		694		883
Total Restructuring Related Costs		694		883
Operating Segments [Member] \| Other Businesses [Member]
Restructuring Cost and Reserve [Line Items]
Severance		0	[1]	0
Operating lease cost				0
Accelerated depreciation of property, plant and equipment				0
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	[1]			0
Lease right-of-use assets		0		1,405
Property, plant and equipment		0		86
Non-operating pensions and postretirement benefit income, net		0		999
Total Restructuring Related Costs		$ 0		$ 2,490

[1]	These amounts are included in the segments’ Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets

Business Segments (Information

Business Segments (Information by Operating Segment) (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Operating Revenues	$ 809,436	$ 716,982	$ 2,323,043	$ 2,102,110
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	26,127	56,310	130,203	126,676
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	42,734	16,066	75,375	72,470
Income (Loss) from Operations	(16,607)	40,244	54,828	54,206
Equity in earnings of affiliates, net	12,964	4,092	28,168	3,727
Interest Expense, Net	(9,422)	(6,357)	(22,457)	(19,307)
Non-operating pension and postretirement benefit income, net	27,561	10,489	81,564	41,028
Gain (loss) on marketable equity securities, net	14,069	59,364	176,981	(1,139)
Other Income, Net	5,218	222	27,660	11,010
Income Before Income Taxes	33,783	108,054	346,744	89,525
Depreciation of property, plant and equipment	18,741	18,481	51,886	58,098
Pension Service Cost	5,775	5,457	17,254	17,044
Identifiable Assets	3,970,533		3,970,533		$ 4,006,935
Marketable equity securities	764,831		764,831		573,102
Investments in Affiliates	171,249		171,249		155,777
Prepaid Pension Cost	1,772,859		1,772,859		1,708,305
Total Assets	6,679,472		6,679,472		6,444,119
Amortization of Intangible Assets	15,981	14,150	43,807	42,642
Impairment of goodwill and other long-lived assets	26,753	1,916	31,568	29,828
Operating Segments [Member] \| Education [Member]
Segment Reporting Information [Line Items]
Operating Revenues	335,999	302,467	1,005,300	992,020
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	13,869	9,584	57,238	45,022
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	3,955	6,251	15,240	24,743
Income (Loss) from Operations	9,914	3,333	41,998	20,279
Depreciation of property, plant and equipment	8,217	6,822	23,479	24,475
Pension Service Cost	2,339	2,350	7,020	7,527
Identifiable Assets	1,975,302		1,975,302		1,975,104
Amortization of Intangible Assets	3,888	4,335	11,967	12,807
Impairment of goodwill and other long-lived assets	67	1,916	3,273	11,936
Operating Segments [Member] \| Education [Member] \| Reportable Subsegments [Member] \| Kaplan International [Member]
Segment Reporting Information [Line Items]
Operating Revenues	168,143	123,768	521,314	488,096
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	(999)	(13,759)	23,285	21,256
Income (Loss) from Operations	(999)	(13,759)	23,285	21,256
Depreciation of property, plant and equipment	5,516	4,585	15,603	14,782
Pension Service Cost	73	102	221	334
Identifiable Assets	1,445,125		1,445,125		1,455,722
Operating Segments [Member] \| Education [Member] \| Reportable Subsegments [Member] \| Higher Education [Member]
Segment Reporting Information [Line Items]
Operating Revenues	85,518	83,841	239,944	243,831
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	9,525	6,853	18,152	21,883
Income (Loss) from Operations	9,525	6,853	18,152	21,883
Depreciation of property, plant and equipment	923	682	2,648	2,237
Pension Service Cost	1,109	973	3,329	3,113
Identifiable Assets	207,834		207,834		187,123
Operating Segments [Member] \| Education [Member] \| Reportable Subsegments [Member] \| Supplemental Education [Member]
Segment Reporting Information [Line Items]
Operating Revenues	80,489	92,568	238,055	253,641
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	11,769	19,069	33,079	12,849
Income (Loss) from Operations	11,769	19,069	33,079	12,849
Depreciation of property, plant and equipment	1,658	1,454	4,904	7,165
Pension Service Cost	954	986	2,861	3,155
Identifiable Assets	263,169		263,169		274,687
Operating Segments [Member] \| Education [Member] \| Kaplan Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operating Revenues	3,761	3,194	10,739	9,438
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	(6,426)	(2,579)	(17,375)	(10,971)
Income (Loss) from Operations	(10,381)	(8,830)	(32,615)	(35,714)
Depreciation of property, plant and equipment	120	101	324	291
Pension Service Cost	203	289	609	925
Identifiable Assets	59,174		59,174		57,572
Operating Segments [Member] \| Education [Member] \| Intersubsegment Eliminations [Member]
Segment Reporting Information [Line Items]
Operating Revenues	(1,912)	(904)	(4,752)	(2,986)
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	0	0	97	5
Income (Loss) from Operations	0	0	97	5
Operating Segments [Member] \| Television Broadcasting [Member]
Segment Reporting Information [Line Items]
Operating Revenues	126,498	133,828	360,089	350,038
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	41,911	54,105	113,212	116,229
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	1,361	1,360	4,081	4,081
Income (Loss) from Operations	40,550	52,745	109,131	112,148
Depreciation of property, plant and equipment	3,462	3,399	10,478	10,188
Pension Service Cost	901	817	2,692	2,449
Identifiable Assets	441,098		441,098		453,988
Operating Segments [Member] \| Manufacturing [Member]
Segment Reporting Information [Line Items]
Operating Revenues	99,766	106,690	356,849	303,387
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	(6,942)	11,838	27,990	30,982
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	32,541	6,987	46,138	21,112
Income (Loss) from Operations	(39,483)	4,851	(18,148)	9,870
Depreciation of property, plant and equipment	2,402	2,557	7,346	7,610
Pension Service Cost	321	318	962	1,107
Identifiable Assets	486,241		486,241		551,611
Operating Segments [Member] \| Healthcare [Member]
Segment Reporting Information [Line Items]
Operating Revenues	55,445	51,426	160,184	146,601
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	6,016	8,965	23,312	23,569
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	756	823	2,317	3,440
Income (Loss) from Operations	5,260	8,142	20,995	20,129
Depreciation of property, plant and equipment	322	318	970	1,351
Pension Service Cost	141	136	421	407
Identifiable Assets	163,286		163,286		160,654
Operating Segments [Member] \| Automotive [Member]
Segment Reporting Information [Line Items]
Operating Revenues	84,702	76,790	242,702	182,288
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	4,506	1,986	8,815	69
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	0	0	0	6,698
Income (Loss) from Operations	4,506	1,986	8,815	(6,629)
Depreciation of property, plant and equipment	535	619	1,555	1,735
Pension Service Cost	0	0	0	0
Identifiable Assets	160,025		160,025		151,789
Operating Segments [Member] \| Other Businesses [Member]
Segment Reporting Information [Line Items]
Operating Revenues	107,539	46,306	199,477	128,953
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	(19,752)	(17,429)	(57,533)	(54,864)
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	4,121	645	7,599	12,396
Income (Loss) from Operations	(23,873)	(18,074)	(65,132)	(67,260)
Depreciation of property, plant and equipment	3,649	4,589	7,578	12,211
Pension Service Cost	458	410	1,314	1,276
Identifiable Assets	660,385		660,385		365,744
Corporate Office [Member]
Segment Reporting Information [Line Items]
Operating Revenues	0	0	0	0
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	(13,481)	(12,739)	(42,831)	(34,331)
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets	0	0	0	0
Income (Loss) from Operations	(13,481)	(12,739)	(42,831)	(34,331)
Depreciation of property, plant and equipment	154	177	480	528
Pension Service Cost	1,615	1,426	4,845	4,278
Identifiable Assets	84,196		84,196		$ 348,045
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Operating Revenues	$ (513)	$ (525)	$ (1,558)	$ (1,177)