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v3.23.1

Fair Value Measurements (Fair Value of Financial Assets and Liabilities) (Details 1) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022
--- | --- | ---
Assets |  |  |
Money Market Investments |  | $ 2,200 | $ 7,700
Marketable equity securities |  | 603,543 | 609,921
Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 2,249 | 7,686
Marketable equity securities | [2] | 603,543 | 609,921
Other current investments | [3] | 12,836 | 12,487
Interest Rate Swap | [4] | 1,682 | 2,636
Total Financial Assets |  | 620,310 | 632,730
Liabilities |  |  |
Contingent consideration liabilities | [5] | 8,206 | 8,423
Foreign exchange swap | [6] |  | 333
Mandatorily redeemable noncontrolling interest | [7] | 32,309 | 30,845
Total Financial Liabilities |  | 40,515 | 39,601
Level 1 | Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 0 | 0
Marketable equity securities | [2] | 603,543 | 609,921
Other current investments | [3] | 8,020 | 7,471
Interest Rate Swap | [4] | 0 | 0
Total Financial Assets |  | 611,563 | 617,392
Liabilities |  |  |
Contingent consideration liabilities | [5] | 0 | 0
Foreign exchange swap | [6] |  | 0
Mandatorily redeemable noncontrolling interest | [7] | 0 | 0
Total Financial Liabilities |  | 0 | 0
Level 2 | Fair Value, Recurring [Member] |  |  |
Assets |  |  |
Money Market Investments | [1] | 2,249 | 7,686
Marketable equity securities | [2] | 0 | 0
Other current investments | [3] | 4,816 | 5,016
Interest Rate Swap | [4] | 1,682 | 2,636
Total Financial Assets |  | 8,747 | 15,338
Liabilities |  |  |
Contingent consideration liabilities | [5] | 0 | 0
Foreign exchange swap | [6] |  | 333
Mandatorily redeemable noncontrolling interest | [7] | 0 | 0
Total Financial Liabilities |  | 0 | 333
Level 3 | Fair Value, Recurring [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 |  |  |
Contingent consideration liabilities | [5] | 8,206 | 8,423
Foreign exchange swap | [6] |  | 0
Mandatorily redeemable noncontrolling interest | [7] | 32,309 | 30,845
Total Financial Liabilities |  | $ 40,515 | $ 39,268
[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 Deferred Charges and Other 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] | 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, Black-Scholes model, 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 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.
[7] | The fair value of the mandatorily redeemable noncontrolling interest is based on the fair value of the underlying subsidiaries owned by GHC One and GHC Two, 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.

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- Definition Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify as cash equivalents by definition. Original maturity means an original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. + References No definition available. + Details
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