GRAHAM HOLDINGS CO (GHC) FY2026 Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-04-01 to 2026-06-30

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GRAHAM HOLDINGS CO cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Calculated remaining financing cash flows are purple; remaining operating and investing bundles are gray. Their underlying inflows and outflows are not separately identified. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net Income → Net cash from operating activities: $52,678,000.00Net Income → Operating adjustments reconciliation: $229,698,000.00Accounts receivable, net → Operating adjustments reconciliation: $32,365,000.00Equity in (earnings) losses of affiliates, net of distributions → Operating adjustments reconciliation: $28,494,000.00Depreciation, amortization and goodwill and other asset impairments → Operating adjustments reconciliation: $24,259,000.00Provision for deferred income taxes → Operating adjustments reconciliation: $14,699,000.00Amortization of lease right-of-use asset → Operating adjustments reconciliation: $14,529,000.00Other assets and other liabilities, net → Operating adjustments reconciliation: $13,887,000.00Accounts payable and accrued liabilities → Operating adjustments reconciliation: $8,586,000.00Loss on disposition of businesses, property, plant and equipment and investments, net → Operating adjustments reconciliation: $5,187,000.00Stock-based compensation expense, net of forfeitures → Operating adjustments reconciliation: $1,617,000.00Credit loss expense → Operating adjustments reconciliation: $1,413,000.00Other → Operating adjustments reconciliation: $819,000.00Operating adjustments reconciliation → Net pension benefit, settlement gain and early retirement and special separation benefit expense: $158,634,000.00Operating adjustments reconciliation → Gain on marketable equity securities and cost method investments, net of impairment: $101,879,000.00Operating adjustments reconciliation → Deferred revenue: $76,654,000.00Operating adjustments reconciliation → Inventories: $25,043,000.00Operating adjustments reconciliation → Lease liabilities: $9,756,000.00Operating adjustments reconciliation → Income taxes receivable/payable: $2,924,000.00Operating adjustments reconciliation → Foreign exchange loss: $663,000.00Other → investing reconciliation: $239,000.00investing reconciliation → Remaining investing cash flows, net (calculated): $24,444,000.00investing reconciliation → Purchases of property, plant and equipment: $20,062,000.00investing reconciliation → Purchases of marketable equity securities: $14,998,000.00investing reconciliation → Investments in certain businesses, net of cash acquired: $75,000.00Net cash used in financing activities → financing reconciliation: $20,367,000.00Net borrowings under revolving credit facilities → financing reconciliation: $81,302,000.00Net repayments of vehicle floor plan payable → financing reconciliation: $2,428,000.00financing reconciliation → Common shares repurchased: $87,842,000.00financing reconciliation → Dividends paid: $8,111,000.00financing reconciliation → Principal payments of finance leases: $3,706,000.00financing reconciliation → Repayments of borrowings: $3,222,000.00financing reconciliation → Distributions paid to noncontrolling interests: $1,120,000.00financing reconciliation → Other: $96,000.00Net cash used in investing activities → investing reconciliation: $59,340,000.00Exchange-rate effect → Cash sources and uses: $1,180,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $233,957,000.00Net cash from operating activities → Cash sources and uses: $52,678,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $208,108,000.00Cash sources and uses → Net cash used in investing activities: $59,340,000.00Cash sources and uses → Net cash used in financing activities: $20,367,000.00Net Income: $282,376,000.00Net Income+$282.38 MDepreciation, amortization and goodwill and other asset impairments: $24,259,000.00Depreciation, amort. & impairments+$24.26 MAmortization of lease right-of-use asset: $14,529,000.00Operating lease amortization+$14.53 MNet pension benefit, settlement gain and early retirement and special separation benefit expense: -$158,634,000.00Pension benefit cost, net−$158.63 MGain on marketable equity securities and cost method investments, net of impairment: -$101,879,000.00Investment value change−$101.88 MLoss on disposition of businesses, property, plant and equipment and investments, net: $5,187,000.00Asset disposal gain & loss+$5.19 MStock-based compensation expense, net of forfeitures: $1,617,000.00Stock-based compensation+$1.62 MForeign exchange loss: -$663,000.00FX transaction gain & loss−$663.00 KEquity in (earnings) losses of affiliates, net of distributions: $28,494,000.00Equity-method income, net+$28.49 MProvision for deferred income taxes: $14,699,000.00Deferred income taxes+$14.70 MAccounts receivable, net: $32,365,000.00Accounts receivable+$32.37 MInventories: -$25,043,000.00Inventories−$25.04 MAccounts payable and accrued liabilities: $8,586,000.00Payables & accrued liabilities+$8.59 MDeferred revenue: -$76,654,000.00Unearned revenue−$76.65 MIncome taxes receivable/payable: -$2,924,000.00Income tax balances−$2.92 MLease liabilities: -$9,756,000.00Operating lease liabilities−$9.76 MOther assets and other liabilities, net: $13,887,000.00Other working capital, net+$13.89 MOther: $819,000.00Other operating, net+$819.00 KCredit loss expense: $1,413,000.00Credit loss provision+$1.41 MNet cash from operating activities: $52,678,000.00Operating cash+$52.68 MOperating adjustments reconciliation: $375,553,000.00Repayments of borrowings: -$3,222,000.00Long-term debt repaid−$3.22 MCommon shares repurchased: -$87,842,000.00Common stock repurchases−$87.84 MNet repayments of vehicle floor plan payable: $2,428,000.00Vehicle floor plan payable, net+$2.43 MDividends paid: -$8,111,000.00Ordinary dividends paid−$8.11 MOther: -$96,000.00Other financing, net−$96.00 KNet borrowings under revolving credit facilities: $81,302,000.00Credit lines, net+$81.30 MPurchase of noncontrolling interest: $0.00Principal payments of finance leases: -$3,706,000.00Finance lease payments−$3.71 MDistributions paid to noncontrolling interests: -$1,120,000.00Paid to noncontrolling interests−$1.12 MNet cash used in financing activities: -$20,367,000.00. Cash required to fund net payments.Financing cash−$20.37 Mfinancing reconciliation: $104,097,000.00Proceeds from sales of marketable equity securities: $0.00Purchases of property, plant and equipment: -$20,062,000.00PP&E purchases−$20.06 MInvestments in certain businesses, net of cash acquired: -$75,000.00Acquisitions, net of cash−$75.00 KPurchases of marketable equity securities: -$14,998,000.00Marketable securities purchases−$15.00 MOther: $239,000.00Other investing, net+$239.00 KRemaining investing cash flows, net (calculated): -$24,444,000.00Remaining investing (calculated)−$24.44 MNet cash used in investing activities: -$59,340,000.00. Cash required to fund net payments.Investing cash−$59.34 Minvesting reconciliation: $59,579,000.00Cash sources and uses: $287,815,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $233,957,000.00Beginning cash$233.96 MEnding cash: Cash, cash equivalents, and restricted cash: $208,108,000.00Ending cash$208.11 MExchange-rate effect: $1,180,000.00FX effect+$1.18 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$32.62 MOperating cash − cash spent on PP&ECash flow / Net income0.19×Operating cash flow ÷ net incomeNet cash change−$25.85 MEnding cash − beginning cash
Chart details

GRAHAM HOLDINGS CO cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026

Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Mar 31, 2026
233,957,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
52,678,000 US dollars. Net cash provided.
Net Income
282,376,000 US dollars
Depreciation, amortization and goodwill and other asset impairments
24,259,000 US dollars
Amortization of lease right-of-use asset
14,529,000 US dollars
Net pension benefit, settlement gain and early retirement and special separation benefit expense
negative 158,634,000 US dollars
Gain on marketable equity securities and cost method investments, net of impairment
negative 101,879,000 US dollars
Loss on disposition of businesses, property, plant and equipment and investments, net
5,187,000 US dollars
Stock-based compensation expense, net of forfeitures
1,617,000 US dollars
Foreign exchange loss
negative 663,000 US dollars
Equity in (earnings) losses of affiliates, net of distributions
28,494,000 US dollars
Provision for deferred income taxes
14,699,000 US dollars
Accounts receivable, net
32,365,000 US dollars
Inventories
negative 25,043,000 US dollars
Accounts payable and accrued liabilities
8,586,000 US dollars
Deferred revenue
negative 76,654,000 US dollars
Income taxes receivable/payable
negative 2,924,000 US dollars
Lease liabilities
negative 9,756,000 US dollars
Other assets and other liabilities, net
13,887,000 US dollars
Other
819,000 US dollars
Credit loss expense
1,413,000 US dollars
Investing activities
negative 59,340,000 US dollars. Net cash used. The remaining amount is calculated by subtracting the other displayed items from the investing total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Net proceeds from disposition of businesses, property, plant and equipment and investments), so Net (payment on) proceeds from disposition of businesses, property, plant and equipment and investments and Proceeds from repayment of related party loan cannot be separated for this quarter. It may combine inflows and outflows.
Proceeds from sales of marketable equity securities
0 US dollars
Purchases of property, plant and equipment
negative 20,062,000 US dollars
Investments in certain businesses, net of cash acquired
negative 75,000 US dollars
Purchases of marketable equity securities
negative 14,998,000 US dollars
Other
239,000 US dollars
Remaining investing cash flows, net (calculated)
negative 24,444,000 US dollars
Financing activities
negative 20,367,000 US dollars. Net cash used.
Repayments of borrowings
negative 3,222,000 US dollars
Common shares repurchased
negative 87,842,000 US dollars
Net repayments of vehicle floor plan payable
2,428,000 US dollars
Dividends paid
negative 8,111,000 US dollars
Other
negative 96,000 US dollars
Net borrowings under revolving credit facilities
81,302,000 US dollars
Purchase of noncontrolling interest
0 US dollars
Principal payments of finance leases
negative 3,706,000 US dollars
Distributions paid to noncontrolling interests
negative 1,120,000 US dollars
Operating adjustment reconciliation
375,553,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
104,097,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing displayed reconciliation
59,579,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
Exchange-rate effect
1,180,000 US dollars
Ending cash on Jun 30, 2026
208,108,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
287,815,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 25,849,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.19×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
52,678,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
20,062,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
32,616,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $52.68M of net income directly to operating cash and $229.70M to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 52,678,000 US dollars minus 20,062,000 US dollars equals 32,616,000 US dollars.
GRAHAM HOLDINGS CO (GHC) FY2026 Q2 Statement of Cash Flows Sankey chart
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