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Fair Value Measurements (Details 1) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets    
Money Market Investments $ 93,700 $ 45,200
Marketable equity securities 436,204 585,080
Fair Value, Recurring [Member]    
Assets    
Money Market Investments [1] 93,685 45,150
Marketable equity securities [2] 436,204 585,080
Other current investments [3] 15,176 14,887
Interest Rate Swap [4] 32 131
Total Financial Assets 545,097 645,248
Liabilities    
Deferred compensation plan liabilities [5] 24,313 34,674
Interest rate swap [6] 2,619 1,119
Foreign Currency Contracts, Liability, Fair Value Disclosure [7]   273
Mandatorily Redeemable Noncontrolling Interest Fair Value Disclosure [8] 829 829
Total Financial Liabilities 27,761 36,895
Fair Value, Recurring [Member] | Level 1 [Member]    
Assets    
Money Market Investments [1] 0 0
Marketable equity securities [2] 436,204 585,080
Other current investments [3] 11,129 8,843
Interest Rate Swap [4] 0 0
Total Financial Assets 447,333 593,923
Liabilities    
Deferred compensation plan liabilities [5] 0 0
Interest rate swap [6] 0 0
Foreign Currency Contracts, Liability, Fair Value Disclosure [7]   0
Mandatorily Redeemable Noncontrolling Interest Fair Value Disclosure [8] 0 0
Total Financial Liabilities 0 0
Fair Value, Recurring [Member] | Level 2 [Member]    
Assets    
Money Market Investments [1] 93,685 45,150
Marketable equity securities [2] 0 0
Other current investments [3] 4,047 6,044
Interest Rate Swap [4] 32 131
Total Financial Assets 97,764 51,325
Liabilities    
Deferred compensation plan liabilities [5] 24,313 34,674
Interest rate swap [6] 2,619 1,119
Foreign Currency Contracts, Liability, Fair Value Disclosure [7]   273
Mandatorily Redeemable Noncontrolling Interest Fair Value Disclosure [8] 0 0
Total Financial Liabilities 26,932 36,066
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]    
Assets    
Money Market Investments [1] 0 0
Marketable equity securities [2] 0 0
Other current investments [3] 0 0
Interest Rate Swap [4] 0 0
Total Financial Assets 0 0
Liabilities    
Deferred compensation plan liabilities [5] 0 0
Interest rate swap [6] 0 0
Foreign Currency Contracts, Liability, Fair Value Disclosure [7]   0
Mandatorily Redeemable Noncontrolling Interest Fair Value Disclosure [8] 829 829
Total Financial Liabilities $ 829 $ 829
[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. corporations that are actively traded on U.S. 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]
Included in Other current assets. 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.
[5]
Includes Graham Holdings Company’s Deferred Compensation Plan and supplemental savings plan benefits under the Graham Holdings Company’s Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits. These plans measure the market value of a participant’s balance in a notional investment account that is comprised primarily of mutual funds, which are based on observable market prices. However, since the deferred compensation obligations are not exchanged in an active market, they are classified as Level 2 in the fair value hierarchy. Realized and unrealized gains (losses) on deferred compensation are included in operating income.
[6]
Included in Other Liabilities. The Company utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.
[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 (see Note 2), 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.