Other Non-Operating Income (Expense)

9 Months Ended

Sep. 30, 2025

Other Nonoperating Income (Expense) [Abstract]

OTHER NON-OPERATING INCOME (EXPENSE)

A summary of non-operating income (expense) is as follows:


	Three Months Ended September 30				Nine Months Ended September 30
(in thousands)	2025		2024		2025		2024
Impairment of cost method investments	$	(1,486)	$	—	$	(14,165)	$	(744)
Foreign currency gain (loss), net	1,147		(4,559)		(7,707)		(5,642)
Gain on sale of businesses	—		3,763		371		8,121

Gain on cost method investments	—		191		—		191
Gain on sale of investment in affiliate	—		—		—		15



Other gain, net	346		140		987		1,032
Total Other Non-Operating Income (Expense)	$	7	$	(465)	$	(20,514)	$	2,973

The gain on cost method investments results 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 nine months ended September 30, 2024, the Company recorded contingent consideration gains of $0.9 million related to the disposition of Kaplan University (KU) in 2018.

In the third quarter of 2024, the Company recorded a $3.7 million gain related to Kaplan’s sale of a small business (see Note 2).

In the second quarter of 2024, the Company recorded a $3.5 million gain related to the sale of a small business by WGB, which included five websites (see Note 2).

Graham Holdings Co 10-Q