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10-K
GRAHAM HOLDINGS CO filed this Form 10-K on 02/23/2018
Entire Document
 


GRAHAM HOLDINGS COMPANY
CONSOLIDATED STATEMENTS OF CHANGES IN COMMON STOCKHOLDERS’ EQUITY
(in thousands)
Class A
Common
Stock
Class B
Common
Stock
Capital in
Excess of
Par Value
Retained
Earnings
Accumulated Other Comprehensive Income
Treasury
Stock
Noncontrolling
Interest
Total Equity
 
Redeemable Noncontrolling Interest
As of December 31, 2014
$
975

$
19,025

$
303,789

$
6,008,506

$
453,480

$
(3,645,476
)
$
476

$
3,140,775

 
$
21,904

Net loss for the year


 

(99,220
)
 
 
 
(99,220
)
 
 
Contribution of noncontrolling interest to a joint venture
 
 
 



 
 
(476
)
(476
)
 
 
Net income attributable to redeemable noncontrolling interests
 
 
 
(1,435
)
 
 
 
(1,435
)
 
1,435

Change in redemption value of redeemable noncontrolling interests
 
 
(2,601
)
 
 
 

(2,601
)
 
2,601

Dividends paid on common stock
 
 
 
(53,090
)
 
 
 
(53,090
)
 
 
Dividends paid on redeemable preferred stock
 
 
 
(631
)
 
 
 
(631
)
 
 
Repurchase of Class B common stock
 
 
 
 
 
(22,979
)
 
(22,979
)
 
 
Issuance of Class B common stock, net of restricted stock award forfeitures
 
 
(13,244
)
 
 
19,909

 
6,665

 
 
Amortization of unearned stock compensation and stock option expense
 
 
57,115

 
 
 
 
57,115

 
 
Other comprehensive loss, net of income taxes
 
 
 
 
(139,658
)
 
 
(139,658
)
 
 
Conversion of Class A common stock to Class B common stock
(11
)
11

 
 
 
 
 

 
 
Spin-Off of Cable ONE
 
 
7,285

(406,453
)
858

 
 
(398,310
)
 
 
Taxes arising from employee stock plans
 
 
4,543

 
 
 
 
4,543

 
 
Other
 
 
 
 
 
 
 

 
17

As of December 31, 2015
964

19,036

356,887

5,447,677

314,680

(3,648,546
)

2,490,698

 
25,957

Net income for the year
 
  
 
169,458

 
 
 
169,458

 
 
Net income attributable to redeemable noncontrolling interests
 
 
 
(868
)
 
 
 
(868
)
 
868

Change in redemption value of redeemable noncontrolling interests
 
 
(3,026
)
 
 
 
 
(3,026
)
 
3,026

Dividends paid on common stock
 
 
 
(27,325
)
 
 
 
(27,325
)
 
 
Repurchase of Class B common stock
 
  
 
 
 
(108,948
)
 
(108,948
)
 
 
Issuance of Class B common stock, net of restricted stock award forfeitures
 
 
(697
)
 
 
644

 
(53
)
 
 
Amortization of unearned stock compensation and stock option expense
 
 
14,717

 
 
 
 
14,717

 
 
Other comprehensive loss, net of income taxes
 
 
 
 
(78,194
)
 
 
(78,194
)
 
 
Taxes arising from employee stock plans
 

 

558

 
 
 
 
558

 
 
Purchase of redeemable noncontrolling interest




 
 
 
 
 

 
(24,031
)
Exchange of redeemable noncontrolling interest
 
 
(4,076
)




 
 
(4,076
)
 
(5,770
)
As of December 31, 2016
964

19,036

364,363

5,588,942

236,486

(3,756,850
)

2,452,941

 
50

Net income for the year
 
 
 
302,489

 
 
 
302,489

 
 
Acquisition of redeemable noncontrolling interest
 
 
 
 
 
 
 

 
3,666

Net income attributable to redeemable noncontrolling interests
 
 
 
(445
)
 
 
 
(445
)
 
445

Change in redemption value of redeemable noncontrolling interests
 
 
(446
)
 
 
 
 
(446
)
 
446

Dividends paid on common stock
 
  
 
(28,329
)
 
 
 
(28,329
)
 
 
Repurchase of Class B common stock
 
  
  
 
 
(50,770
)
 
(50,770
)
 
 
Issuance of Class B common stock, net of restricted stock award forfeitures
 
 
(4,401
)
 
 
4,786

 
385

 
 
Amortization of unearned stock compensation and stock option expense
 
 
11,184

 
 
 
 
11,184

 
 
Other comprehensive income, net of income taxes
 
 
 
 
228,136

 
 
228,136

 
 
Reclassification of stranded tax effects as a result of tax reform




 

(70,933
)
70,933

 
 

 
 
As of December 31, 2017
$
964

$
19,036

$
370,700

$
5,791,724

$
535,555

$
(3,802,834
)
$

$
2,915,145

 
$
4,607

See accompanying Notes to Consolidated Financial Statements.

75